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Your Reservation becomes effective when (1) you place your Reservation and (2) we receive your Reservation Payment.
While this Reservation secures the approximate delivery priority within your region, it does not constitute the purchase or order of a vehicle. When the start of production for your Reservation nears, we will ask you to confirm your Venice. Vanderhall will create an order for your vehicle and you will receive a Purchase Agreement from the nearest Authorized Vanderhall Dealer indicating the purchase price of the vehicle, plus estimates of any applicable taxes, duties, transport and delivery charges, and any other applicable fees. If you proceed with the order, we will apply your Reservation Payment towards our authorized dealer’s order payment. Until you enter into a Purchase Agreement, your Reservation may be cancelled at any time, in which case you will receive a full refund of your Reservation Payment.
You understand that we will not hold your Reservation Payment separately or in an escrow or trust fund or pay any interest on your Reservation Payment. Your Reservation is not transferable or assignable to another party without the prior written approval of Vanderhall.