Terms & Conditions
IF YOU ARE UNCLEAR OR HAVE ANY QUESTIONS OR ANY QUERIES ABOUT THESE TERMS AND CONDITIONS, YOUR RIGHTS, THE ACTIONS REQUIRED BY YOU AND THE BENEFITS OF THIS OFFER, IMMEDIATELY CONSULT WITH YOUR SALES AGENT AND/OR PERSONAL ADVISORS AND/OR VISIT THE ‘FREQUENTLY ASKED QUESTIONS’ SECTION OF OUR WEBSITE AT www.timelessprotect.com/faq. IN THE CASE THERE IS INCONSISTENCY IN A STATEMENT OR COMMENT BETWEEN ANY OTHER DOCUMENT AND THESE TERMS AND CONDITIONS, THE STATEMENTS MADE ON THESE TERMS AND CONDITIONS SHALL PREVAIL.
THIS BUY BACK PROGRAM USES A TRUST TO PROTECT THE POOL OF FUNDS AND THIS TRUST CARRIES AN INSURANCE POLICY ISSUED BY LLOYDS OF LONDON WITH POLICY #B0621PCLAR003318. YOUR PROGRAM IS DEEMED TO BE ACTIVE UPON THE SIGNING OF YOUR ENROLLMENT FORM AND THE RECEIPT OF THE FUNDS FOR THE PROGRAM BEING PAID IN FULL. THIS PROGRAM WILL NOT START IF NO PAYMENT OR PARTIAL PAYMENTS ARE MADE. IN THE CASE WHERE THE FEE IS FINANCED WITH TIMELESS PROTECT, THE PROGRAM OFFICIALLY BEGINS ONCE THE FINAL PAYMENT IS MADE AND THE FEE HAS BEEN COLLECTED IN FULL.
THERE IS NO PROCEDURE FOR THE RECOVERY OF YOUR RIGHT TO EXERCISE THE OPTION AFTER IT IS DEEMED FORFEITED BY YOU. FOR THE AVOIDANCE OF DOUBT, YOU MAY FORFEIT YOUR RIGHT TO EXERCISE THE OPTION OR BE DECLINED BENEFITS OF AN EXERCISED OPTION ON THE OCCURRENCES SET OUT BELOW. OF THESE TERMS AND CONDITIONS. IN THE CASE OF ANY AMBIGUITY OF ANY TERM OR CONDITION OR DEFINITION CONTAINED HEREIN, YOU UNDERSTAND AND AGREE THAT THE TEST OF “A REASONABLE MAN” SHALL BE APPLIED TO INTERPRET THE MEANING BY CONSIDERING ALTOGETHER THE TERMS AND CONDITIONS AND DEFINITIONS CONTAINED HEREIN.
Timeless Protect LLC (“TPI”, “Provider”) herein offers to You, the Beneficiary, the right to participate in our Buy Back Option Program (the “Program” or “Buy Back Program” to exercise the “Option”) that unequivocally obligates TPI to pay You for the Buy Back Amount subject to these Terms and Conditions. By accepting the right to participate in the Program, you understand, acknowledge and agree to be bound by the Terms and Conditions of this offer in its entirety, as contained in these Terms and Conditions, which may be amended by the Provider from time to time without notice to You.
THE RIGHT TO PARTICIPATE IN THE PROGRAM IS OFFERED IN CONJUNCTION WITH A COMPLETED PURCHASE AGREEMENT. THE RIGHT TO PARTICIPATE IN THE PROGRAM AND THE TPI BUY BACK OPTION ITSELF CARRIES NO SEPARATE MONETARY VALUE. TO BE ELIGIBLE TO EXERCISE YOUR RIGHT TO THIS PROGRAM, YOU UNDERSTAND AND AGREE THAT YOU ARE INDIVIDUALLY AND SEVERALLY RESPONSIBLE TO STRICTLY COMPLY WITH ALL TERMS AND CONDITIONS IN A TIMELY MANNER. YOU ALSO UNDERSTAND AND AGREE THAT ANY ACTIONS BY YOU THAT CONSTITUTE, IN THE SOLE DISCRETION OF THE PROVIDER, NON-COMPLIANCE WITH THESE TERMS OR CONDITIONS MAY RESULT IN (a) YOUR FORFEITURE OF YOUR RIGHT TO PARTICIPATE IN THE PROGRAM; (b) THE EXPIRATION OF YOUR RIGHT TO EXERCISE THE BUY BACK OPTION; OR (c) PROVIDER DECLINING BENEFITS OF AN EXERCISED OPTION.
It is advisable to maintain in your possession a record of dates of your correspondence with TPI and a copy of all materials submitted together with receipts for certified or registered mail communications with TPI. Your submission of Your Exercise My Option form during the Exercise Period will preserve Your right to exercise Your Option in accordance with these Terms and Conditions. However, You can always choose not to participate or to keep Your Ownership, as applicable, by confirming that You wish to do so at the time the Notice to Payout is sent to You.
If you do exercise Your Option, TPI will contact You by letter or email, within thirty (30) days of receipt of Your Exercise My Option form to explain and/or confirm with You the steps required to complete the buy back, and to advise You of the documentation You will be required to provide to complete the transaction including without limitation:
1. Documentation sufficient to establish that in the sole discretion of TPI You are the original owner or a Permitted Transferee.
2. Written confirmation from the original sales company, if possible, that:
a. All arrearages, if any, charged to You from Your original Purchase Date up to the date of Your filing Your Exercise My Option form have been paid in full as applicable;
b. You have good, clean title to the program or product;
c. The company has not received notice and/or has no knowledge of any Lien, unpaid taxes, or other assessment or encumbrance registered or pending against your owned product or program; and
d. Your authorization to TPI as required that permits TPI to independently verify Your settlement of all arrearages.
QUALIFYING FOR THE RIGHT TO EXERCISE THE BUY BACK OPTION
Your registration is initiated with TPI when You purchase Your program or product with the sales company using the TPI Program and the appropriate fee has been paid in full to TPI.
FORFEITURE OF YOUR TPI BUY BACK OPTION
You are subject to forfeiture and loss of Your right to exercise Your Option if (as applicable):
1. You transfer ownership and title to a person or entity other than a Permitted Transferee (being an heir or family member);
2. You have not submitted, and have proof of mailed by date, Your “Exercise My Option Form” to TPI during the Exercise Period; and/ or
3. You are, at any time during Your ownership, ninety-one (91) or more calendar days past due on payments related to Your ownership and fail to settle in full all said amounts that are in arrears within ninety-one (91) days from the date first due; and/ or
4. You are prevented from or unable to transfer, at the Closing Date, ownership of and good, clean and clear title to Your Ownership to TPI or its Assigns, free and clear of any and all Liens and/or other encumbrances, litigation, and/or taxes or other assessments due and payable as of the Closing Date as applicable; and/ or
5. You do not respond in a timely manner to all requests from TPI and/or the company utilized by TPI for the summary documentation required for the execution of the transfer of Your Ownership to TPI or its Assigns as applicable. A request for information may include but is not limited to providing notarized signatures on deeds, copies of Your personal identification, postal and registered mail fees to return such information; and/ or
6. You do not comply, do not cooperate or offer no cooperation to TPI or its assigns to expedite the transfer of Your Ownership to TPI or its assigns.
BUY BACK AND CLOSING
TPI shall compile and maintain a file of all documents received from You, and information received from third parties as TPI may request from time to time. Within thirty (30) days of the end of your final year of the term you are enrolled in (for example after the end of the 12th year anniversary date of your purchase on a 12-year program) TPI will send to You a Confirmation of Payout form. You will then have a final option to retain Your Ownership if applicable. You have one full calendar year to make this decision. If You confirm that You wish to proceed with getting the full cash back amount, TPI will arrange for any applicable transfer documents to be sent directly to You for Your execution and transfer of good, clean and clear title to TPI or an assigned company. Within 30 days of receipt of confirmation of all documents as required, You will be advised of the Closing Date for the settlement of the TPI Buy Back Amount that would be determined to be the amount due to You by reference to the terms, conditions and definitions.
GENERAL TERMS AND CONDITIONS
Transferability. Your TPI Buy Back Option IS NON-TRANSFERRABLE TO ANY OTHER PARTY, except to a Permitted Transferee.
Automatic Termination. Your TPI Buy Back Option will automatically terminate:
1. if You default on any applicable payments for your asset and do not complete the purchase nor pay the applicable TPI fee;
2. on Your sale or transfer or assignment of any interest in Your Ownership to any person or third party except a Permitted Transferee.; or
3. if You do not exercise Your right to this Option as permitted within the Option Period, being the term of one year halfway through your ownership term.
Permitted Transferee. In order for the Permitted Transferee to receive all the rights and privileges to the TPI Buy Back Option, it is Your obligation and responsibility to notify TPI within ninety-one (91) days of the effective date of closing of the sale or transfer of Your interest in Your Ownership to a Permitted Transferee. If Your notice to TPI of transfer and registration of Your Ownership is not sent within 91 days of the effective date of transfer and registration, Your right to this Option shall be deemed to have expired and Your Permitted Transferee will not be entitled to the right to exercise this Buy Back Option.
Tax Implications. You may be subject to federal, provincial, state, or local tax on any payment made to You by TPI or it assigns. You are solely responsible for making the appropriate tax declarations. TPI retains no liability whatsoever to make or administer or submit deductions and/or remittances and/or filings on Your behalf.
Any document or payment filed with TPI shall be sent by registered mail to:
Timeless Protect LLC
618 E South Street Suite 500
Orlando, FL 32801
or to such other address that TPI may, from time to time, designate by written notice to You.
Governing Law. These Terms and Conditions shall be governed by and construed in accordance with the laws of Florida exclusively, without regard to its conflict of law or rules.
This Buy Back Option is provided by TPI as an independent service provider that is solely responsible for the administration of your Option. Unless otherwise expressly stated by TPI, the Developer/Marketer does not act either as an Agent or an assign of TPI.
TIMELESS PROTECT INC’S RIGHT TO AMEND THE PROGRAM
Timeless Protect LLC reserves the right, in its sole discretion and without consultation with any other party, to amend, modify, append and/or change the provisions, wording, content, actions required, benefits (altogether the “Amendments”) of the Buy Back Option Program. This clause exists to allow TPI to expand the program and to make refinements and improvements to the overall use and benefits of the program, however Your right to participate in and the benefits to You of the Program shall be interpreted by these Terms and Conditions inclusive of any Amendments existing at the date You qualify for the right to Exercise the Buy Back Option. This means any refinements or changes will never impact your Buy Back Option as signed and agreed to herein.
The TPI Program has 3 options for receiving a cash payout:
End of Year 3 – 25% of the total amount paid for the program
End of Year 6 – 50% of the total amount paid for the program
End of Year 12 – 100% of the total amount paid for the program
BINDING INDIVIDUAL ARBITRATION
Purpose. The term "Dispute" means any dispute, claim or controversy between You and TPI or any of its officers, directors, employees and agents and Assigns, or any other person or entity that has or had a contract or arrangement with TPI, regarding your Buy Back or Cash Back Option (the “TPI Buy Back Option Program”), whether based in contract, statute, regulation, ordinance, tort (including, but not limited to, fraud, misrepresentation, fraudulent inducement, or negligence), or any other legal or equitable theory, and includes the validity, enforceability or scope of this section (with the exception of the enforceability of the Class Action Waiver clause below). "Dispute" is to be given the broadest possible meaning that will be enforced. If You have a Dispute that cannot be resolved through negotiation within the time frame described in the "Notice of Dispute" clause below, other than those matters listed in the Exclusions from Arbitration clause, You and the person or party that You have a Dispute with will seek resolution of the Dispute only through arbitration of that Dispute in accordance with the terms of this section and not litigate any Dispute in court. Arbitration means that a neutral arbitrator instead of a lawsuit filed in court and tried by a judge or jury will resolve the Dispute.
Exclusions from Arbitration. IT IS AGREED THAT ANY CLAIM FILED IN SMALL CLAIMS COURT IS NOT SUBJECT TO THE ARBITRATION TERMS CONTAINED HEREIN.
Notice of Dispute. IF YOU HAVE A DISPUTE, YOU MUST SEND WRITTEN NOTICE TO Timeless Protect LLC 618 E South Street Suite 500
Orlando, FL 32801 ATTN: LEGAL DEPARTMENT/ARBITRATION, DISPUTE RESOLUTION TO GIVE THE PERSON OR ENTITY YOU HAVE A DISPUTE WITH THE OPPORTUNITY TO RESOLVE THE DISPUTE INFORMALLY THROUGH NEGOTIATION. You agree to negotiate resolution of the Dispute in good faith for no less than 60 days after You provide notice of the Dispute. If the Dispute is not resolved within such 60-day period, You or the person or entity You have a Dispute with may pursue the Dispute in arbitration pursuant to the terms in this agreement.
Class Action Waiver. ANY DISPUTE RESOLUTION PROCEEDINGS, WHETHER IN ARBITRATION OR COURT, WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS OR REPRESENTATIVE ACTION OR AS A NAMED OR UNNAMED MEMBER IN A CLASS, CONSOLIDATED, REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION, UNLESS BOTH YOU AND THE PERSON OR ENTITY WITH WHICH YOU HAVE THE DISPUTE SPECIFICALLY AGREE TO DO SO IN WRITING FOLLOWING INITIATION OF THE ARBITRATION. THIS PROVISION IS NOT APPLICABLE TO THE EXTENT SUCH WAIVER IS PROHIBITED BY LAW.
Arbitration Procedures. Except as provided in this agreement, any Dispute shall be settled by binding arbitration heard by three (3) arbitrators, in accordance with the Commercial Arbitration Rules (“Rules”). The arbitrators shall be appointed in accordance with the Rules. The arbitrators shall be bound by the terms and conditions of this agreement and shall have no power, in rendering the award, to alter or depart from any express provision of the terms and conditions document, and their failure to observe this limitation shall constitute grounds for vacating their award. Any award of the arbitrators shall be final and binding upon the parties and judgment may be entered in any court of competent jurisdiction. The award and judgment thereon may include injunctive relief, shall include interest at the legal rate from the date that the sum awarded to the prevailing party was originally due and payable, and reasonable attorneys’ fees and other arbitration costs, including, without limitation, reasonable costs associated with expert witnesses.
Severability. If any clause within this agreement (other than the Class Action Waiver clause above) is found to be illegal or unenforceable, that clause will be severed from this section, and the remainder of this agreement will be given full force and effect. If the Class Action Waiver clause is found to be illegal or unenforceable, this entire section will be unenforceable, and the Dispute will be decided by a court and You and the person or entity You have a dispute with each agree to waive in that instance, to the fullest extent allowed by law, any trial by jury.
Continuation. This section shall survive any termination of Your TPI Buy Back Option.
JURISDICTION AND GOVERNING LAW. FLORIDA LAW WILL ALWAYS BE THE GOVERNING LAW AND ANY DISPUTE NOT SUBJECT TO ARBITRATION AND NOT INITIATED IN SMALL CLAIMS COURT SHALL BE LITIGATED IN A COURT OF COMPETENT JURISDICTION IN FLORIDA USA.