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How it works

Here you can find an overview of the functionality and fundamentals of the Release site. To understand your legal rights and obligations in connection with your use of the Release site.

Release is a brand of Consecution, a company with over fifteen years of experience in the car rental and fleet management industry.

 

The information provided below is an overview of the functionality and fundamentals of the Release site. To understand your legal rights and obligations in connection with your use of the Release site, please see our Terms and Conditions document at this link.

 

What is RELEASE?

Release is a platform that was born from the experience gained by Consecution over years of service in the long-term rental sector and allows the publication of rental contract assignment announcements and is designed to facilitate B2B turnaround of Long-Term Rental Contracts. Release is an online platform through which users can assign to other users or take over from other users in certain long-term rental contracts. Release does not assign or take over any of the contracts/announcements displayed on the site and is not a party to any transaction between users. Release's goal is to simplify the subrogation process for legal entities and provide an efficient way to transfer long-term rental contracts between interested parties.

Who can use the RELEASE website?

Only users, vat holders based in Italy, registered to the Release platform. A registered user can upload assignment announcements or request takeover.

What kind of vehicles and contracts can be assign on RELEASE?

It is only possible to propose the assignment of rental contracts that have at least 12 months remaining. In order to proceed with the takeover, the rental company must also endorse the request depending on the outcome of the financial and risk analysis performed on the subrecipient to determine whether or not the subrecipient can sustain the monthly lease payment. In the event of financial approval and successful verification of documentation, the subrecipient will be able to take over the contract by activating the rental agreement, on the same terms and conditions as the assignor previously entered into it.

How to propose long-term rental contract assignments on RELEASE?

In order to upload an assignment announcement on the Release platform, the assignor must comply with the requirements mentioned in the previous point and the legal obligations stated in the Terms and Conditions document at this link. When uploading a transfer ad, you must fill out the application with all the information regarding both the subject vehicle and the rental agreement. You may not use photographs found on the Internet and/or photos of similar vehicles. The description and photographs of the vehicle must reflect the actual quality and exterior appearance of the item, as well as any defects or alterations affecting it.

What must a RELEASE advertisement look like?

  1. It must refer to motor vehicles in good standing with the provisions and contractual obligations with the Supplier and with the Italian regulations;
  2. The Transferor must have the legal right to be able to transfer the Motor Vehicle and the Rental;
  3. The Motor Vehicle subject to Assignment as well as the Long-Term Rental contract must not violate the rights of third parties, in particular of the Supplier, including intellectual property rights, and must not violate any applicable local, national or international law or regulation;
  4. The photos, text, images and any content must be made by the Transferor or the Transferor must have the rights of use. The description and photographs of the Motor Vehicle and the Long Term Rental Agreement must accurately represent the actual quality and external appearance, including any defects or alterations, as well as the characteristics of the Long Term Rental;
  5. The photographs and contents of the Listing must not contain personal information of third parties (e.g., pictures, faces, license plates, people, names, etc.).

How are ADS sorted on RELEASE?

By default, ads uploaded to Release are sorted by "relevance" taking into account the following criteria, listed below in order of importance:

  • Relevance to the search query
  • User preferences (spending budget, timing, brand and model)
  • The date on which a particular ad was uploaded

Is there a charge for RELEASE service?

For use of the site and service, Release charges a fees

For those who transfer a contract:

  • A price per uploaded ad
  • 25% of the total residual value (monthly * monthly fee)*
  • The payment of any additional services required*

For those who take over:

  • 5% of the total residual value (monthly * monthly fee)*
  • The payment of any additional services required*

*Payment can be made by credit card, debit card or other methods and Payment Systems available on the Site.

Upon request for Assignment by the Assignee, the commission due to Release will be held in an escrow account. Upon completion of the Assignment, Release will acquire the deposit related to the commission. If Release fails to complete the Assignment, the deposit will be returned to the Assignee without interest or other charges. At the time of the Subentrant's request for Takeover, the commission due to Release will be held in an escrow account. Upon completion of the Assignment, Release will acquire the deposit related to the commission. If Release fails to complete the Assignment activity, the deposit will be returned to the Subrecipient without interest or other charges.

The amounts provided for the Service and Additional Services are in Euros (EUR), including applicable VAT and any other charges, fees or commissions, unless otherwise indicated on the dedicated page of the Site.

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What is Release

Release is the platform that will let you find the car you wanted at the price you didn't expect and, for you who need to get out of your long-term rental contract early, to find someone who can take over and thus avoid paying early termination penalties.

2023-07-11

How it works

Here you can find an overview of the functionality and fundamentals of the Release site. To understand your legal rights and obligations in connection with your use of the Release site.

2023-07-11