Rental is a sales transaction that offers a low up front price on certain books in exchange for selling that book back to Bookbyte. When you sell a book back to Bookbyte, Bookbyte will pay you 10% of the price you paid for the book and pay shipping charges. If you do not sell the book back to Bookbyte by a stated due date, you will be charged the full price for the book plus a fee.
For example, you buy a book from Bookbyte for $50.00, which is $25.00 less than the list price, because you agree to sell the book back to Bookbyte no more than 150 days later for $5.00. You ship the book back to us using our prepaid shipping (no cost to you), so your actual cost of buying and selling back the book is $50.00 less the $5.00 you get paid when you sell the book back. If you do not sell the book back to Bookbyte, you will pay Bookbyte the previously provided $25.00 discount and a $10.00 fee.
List Price: the publisher’s list price for a textbook at the time of sale.
Rental Program: The program described in this Rental Agreement, summarized above.
Rental Purchase Price: Price - Rental Discount.
Rental Discount: the discount from List Price given to the customer for entering into a Rental Agreement.
Rental Agreement: this legal document, which states the terms and conditions of the Rental Program.
Rental Sell Date (Return by Date): that date by which the customer agrees to sell Bookbyte back the book(s) or notify us of their intent to pay full price for the book(s), thereby avoiding a default of this Agreement. Bookbyte must receive the book(s) by this date.
Grace Period: The time in calendar days after the Rental Sell Date (Return by Date) at which time a default of this Agreement occurs.
Default Fee: The fee charged to a customer for a Default of the Rental Agreement.
Buyback Price: The amount Bookbyte will pay its customer to repurchase a book under the Rental Program.
Upon your purchase of a book at the Rental Price, we will sell you a textbook at a reduced price. You agree that you pay this price in consideration for performing certain obligations. Specifically, you will:
Purchase the book(s) with the Rental Discount given you by Bookbyte.
Select a term of this agreement, setting a Rental Sell Date(Return by Date).
Authorize Bookbyte to make future charges to your credit card should you default on this Agreement.
By the Rental Sell Date (Return by Date) either sell Bookbyte the book(s) for the Buyback Price or notify Bookbyte of your intent to keep the book(s).
Sell us back the book(s) in a resalable condition.
Be subject to Default Conditions of the agreement should you default on your obligations under this agreement.
Transfer of Ownership
Once you purchase the book(s), Bookbyte confirms your order and ships the book(s) to you, the ownership of the book(s) transfers completely and wholly to you. Bookbyte makes no property right claims upon the book(s). Bookbyte does hold rights under this Agreement to hold you accountable to meet the obligations of this Agreement, which are wholly separate from the ownership of the book(s). You must bear the risk of loss or damage to the book(s), which may make the book(s) unsellable to Bookbyte.
Once the book(s) have been sold back to Bookbyte, which is defined as received by Bookbyte, and we have paid you the Buyback Price for the book(s), ownership of the book(s) shall be transferred wholly to Bookbyte.
You agree that the book(s) you sell back to Bookbyte shall be in resalable condition as defined by Bookbyte Buyback Guidelines described on our website. You also agree that if you attempt to sell us back a book in non-resalable condition we may treat this as a default and require you to pay the Rental Discount and the Default Fee.
The contract term shall be stated on the purchase confirmation/order. The term of this agreement shall end on the Rental Sell Date (Return by Date), and when the customer has fulfilled the obligations of this Agreement.
Customer Actions at Rental Sell Date (Return by Date)
In order not to be in Default of this agreement you must take action by your Rental Sell Date.
If you are choosing to sell back the book(s) to Bookbyte for the Buyback Price, you must:
Ship the book(s) to Bookbyte with the provided label back to Bookbyte. Bookbyte must receive the book(s) by the Rental Sell Date. You MUST use the provided label to ensure that your book(s) are properly received and accounted for to meet the obligations of this Agreement. Bookbyte cannot be responsible for your agreement being in default if you fail to use our provided label.
Once the book(s) are received, we will purchase them from you at the Buyback Price for your book(s).
If you are choosing to keep the book(s), you must:
Notify customer service at email@example.com no later than 4:00 Pacific Time of your intent to keep the book(s). Include in the email:
Your Order Number
ISBN of the title(s) you are keeping
Bookbyte will notify you that we have received your email. If you do not receive notification within 24 hours you should contact us via Live Chat to ensure that your email was received.
We will charge your credit card the Rental Discount provided to you at the time of your purchase of the book(s), plus a $10 per book processing fee.
If you do neither of the above two actions, you will be in default of this Agreement and Bookbyte may take action against you for such default, as described in this Agreement or allowed by law.
Default and Grace Period
If you have not informed us of your intent to keep the book(s) or have sold us your book(s) as of the Rental Sell Date (Return by Date) you will be considered in default of this Agreement and Bookbyte may take any action against you permitted by this Agreement or applicable law.
If we have not received your book(s) or notification of your intent to keep the book(s) and repay the Rental Discount by the Rental Sell Date (Return by Date), you will be provided a Grace Period of 20 calendar days to ship the book to Bookbyte. Bookbyte must receive the book(s) within the Grace Period in order for you to avoid default. The Grace period only applies to selling back the book(s). There is no grace period on notification of retention of the book(s).
At the end of the Grace Period, if Bookbyte has not received the book(s), then the Agreement is in default and Bookbyte will charge your credit card the Rental Discount provided upon your purchase of the book(s) plus a Default Fee of $10 per book.
Authorization for Use of Credit Card
You hereby acknowledge that you have provided Bookbyte with your credit card information and authorize Bookbyte to make future charges on your credit card should you 1) notify Bookbyte that you have chosen to keep the book(s) purchased under this Agreement, or 2) you default on this Agreement. In these cases, you agree that Bookbyte may charge to your credit card all associated charges and fees delineated by this Agreement.
If Bookbyte is unable to charge your card for any reason, and you have not made alternative payment to Bookbyte, Bookbyte may collect funds due from you by any other lawful means, including a third party collection service. Bookbyte may add interest at a rate of 18.5% per annum, compounded monthly, plus any collection fees and attorney fees that may be incurred in the course of collecting owed funds from you to the amount due.
Entering into Agreement through Electronic Means
By purchasing a book or books at the Rental Purchase Price, you agree that you have read, understood and have entered into this Agreement. You have accepted the terms of this Agreement by means of a check box or entering your name in provided spaces. Such acceptance is the same as your written signature and you are bound by this Agreement.