Terms and Conditions

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Effective Date: [4/20/2024]

RackSavant Terms and Conditions

Welcome to RackSavant.com! These Terms and Conditions ("Terms") govern your use of our website and services. By accessing or using www.racksavant.com (the "Site"), you agree to be bound by these Terms. Please read them carefully.

These Terms constitute a contract between you and RackSavant LLC ("RackSavant," "we," "our," or "us") and govern your use of our Site and services. By using our Site, you accept these Terms. If you do not agree, please do not use our Site.

• “Service”: Refers to the products and services provided by RackSavant through our Site.
• “User”: Any individual or entity accessing or using our Site.
• “Content”: Includes all information, materials, and media provided by RackSavant or created by users on our Site.
• “Approved Items”: Items that are approved for submission to RackSavant.

You must be at least 18 years old or the age of majority in your jurisdiction to use our Site. Certain features may require you to create an account, for which you are responsible for maintaining confidentiality. You agree not to engage in illegal activities, including fraud, harassment, or the transmission of malicious software. Hate speech, bullying, and spamming are prohibited.

You agree to provide accurate and current information for account registration and other interactions with our Site. You are responsible for the security of your account and any content you create or upload to our Site, ensuring it does not infringe on intellectual property rights or violate any laws.

RackSavant retains all rights to our Site and related intellectual property. Your use of our Site grants you no ownership of intellectual property. By submitting content to RackSavant, you grant us a worldwide, royalty-free, non-exclusive license to use, reproduce, modify, and distribute your content in connection with our Site.

Any fees associated with our services, including the $30 fee for becoming a RackSavanteur, will be clearly disclosed on our Site. As a RackSavanteur (a consignor under the company), you are entitled to a 50% commission on sales of your approved items. 

Shipping and Packing Policy:
Upon payment of the $30 fee, you will receive a RackSack, a large shipping box measuring 18 x 12 x 8" Lightweight 32 ECT Corrugated Boxes. You are responsible for securely packing and shipping your approved items to RackSavant. Additional charges may apply based on the weight of the items and other unforeseen factors. Our appraisers will determine which items will be displayed, and there is no guarantee that all submitted items will be accepted. **In-person pickup or drop-off may be considered on a case-by-case basis and does not exempt you from any applicable rules or conditions.

Storage and Shipping Policy:
Items will be stored in our facility for a period of 6 months. If an item does not sell within this 6-month period, you may pay a $30 fee to extend storage for an additional 6 months to 1 year. If you choose not to extend the storage period, we will return the items to you and charge a 3% commission on the sale price.

Once your items are received, RackSavant will process, style, and list them on the Platform. Each item will have a reservation price that is binding once agreed upon. The item will remain in the auction unless the RackSavanteur chooses to withdraw it before the item is sold at the reservation price.

Certain items may be selected for upcycling and will be displayed as "upcycle eligible." These items are subject to alterations based on the highest bidder's request. Once labeled for upcycling, the item cannot be withdrawn from the auction.

If you withdraw an item from the Platform after it has been listed but before it is sold, a 25% restocking fee will apply, calculated based on the item's reservation price.

We may terminate or suspend your account if you violate these Terms or at our discretion. You may terminate your account by following the instructions on our Site or contacting us directly. Upon termination, your access to the Site will be revoked, and any content you've submitted may be removed.

Our Site and services are provided "as is" and "as available." We disclaim all warranties to the fullest extent permitted by law. RackSavant is not liable for any indirect, incidental, or consequential damages arising from your use of our Site or services.

You agree to indemnify and hold RackSavant harmless from any claims, damages, or losses arising from your use of our Site or violation of these Terms.

We may update these Terms from time to time. Any changes will be posted on this page with an updated effective date. Continued use of our Site after changes constitutes acceptance of the revised Terms.

These Terms are governed by and construed in accordance with the laws of the State of California. Any disputes will be subject to the exclusive jurisdiction of the courts located in San Francisco, CA.

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect. These Terms constitute the entire agreement between you and RackSavant regarding your use of our Site and services.

NFT Authentication and Circular Economy

For the first 1,000 items hand-selected by our team, each will be accompanied by a minted NFT from the GitLit Collection via OpenSea. This NFT acts as a digital certificate of authenticity, verifying the garment’s origin and enabling traceability throughout its resale journey.

Ongoing Artist Compensation
This NFT-based model ensures that every resale of the authenticated item generates ongoing revenue for the original RackSavanteur (the artist), provided the NFT remains paired with the item. If the NFT is separated from the garment, the item is no longer recognized as authenticated under RackSavant.

Circular Economy Impact
By leveraging NFTs, RackSavant fosters a sustainable circular economy, enabling artists to continuously earn from their creations. This model not only promotes environmental responsibility but also secures creators' financial stability without dependence on constant new production.

For questions or concerns regarding these Terms, please contact us at consign@racksavant.com.