Definitions

“Lister” means the current lessee listing a lease for takeover. “Taker” means the person applying to take over a listed lease. “Board” means Frank’s lease-transfer board. “Transfer” means the assignment of a lease from Lister to Taker, approved by the leasing company/OEM.

Part A — Lister (current lessee) terms

By listing your lease, you agree:

A.1 Eligibility & authority. You are the current lessee (or authorized to act for the lessee) of the vehicle you list, the lease is in good standing, and you are permitted to seek a transfer of it.

A.2 Accurate lease information + payoff. The lease details you provide (remaining term, payment, mileage allowance, payoff/buyout) are accurate. You authorize Frank to use the lease document you upload to read and confirm the payoff and terms. Until your payoff is confirmed from that document, any “equity” figure shown is an estimate, labelled as such, not a promise.

A.3 Transfer needs approval you don’t control. A lease transfer is an assignment of your existing lease that must be approved by the leasing company/OEM under your lease’s own rules — some captives restrict or prohibit assignment, and some keep the original lessee partly liable after transfer. Frank does not grant that approval and does not change your lease. The dealer and leasing company run the assignment.

A.4 Consent to list, match, and reveal. You consent to Frank: displaying your listing on the dealer/group board anonymously (no name or contact information) until a match; verifying your identity; and, on a match, revealing your identity and full lease details to the dealer so they can work the transfer as a lead. Reveal happens only on that accept event.

A.5 What Frank does and doesn’t do. Frank provides the listing and pairing interface and hands your dealer a qualified lead. Frank does not guarantee a Taker will be found, does not approve anyone’s credit, is not a party to the transfer, and is not responsible for the buyout, the OEM assignment, the vehicle, or the other consumer.

A.6 Free to list. Listing is free — Frank does not charge you to list or to be matched. Any dealer transfer/admin fee shown on a listing is the dealer’s fee, on the dealer’s terms; Frank just surfaces it.

A.7 Withdraw / expiry. You may withdraw a listing at any time before a match. A listing typically expires after 30 days if not matched, and you’ll be nudged to re-list.

A.8 Fraudulent or inaccurate listings. Frank may remove a listing, without notice, that it reasonably believes is fraudulent, materially inaccurate, or made without authority to list the lease.

Part B — Taker (incoming lessee) terms

By taking over a lease, you agree:

B.1 Pre-qualification is a filter, not approval. Any eligibility or pre-qualification step is a soft filter, not a credit approval. The leasing company/OEM approves the transfer and your credit; you complete their application through the dealer.

B.2 You assume the lease as-is. On transfer you take on the remaining lease terms — payments, mileage allowance, and end-of-lease obligations including excess wear and mileage, even if incurred before your takeover. The listing shows the terms you would inherit; review them.

B.3 Inspect the vehicle. Frank offers no protection or guarantee on the vehicle’s condition or history. Treat a takeover with the same care as buying a used vehicle — inspect it and get anything material in writing before you commit.

B.4 Identity + reveal. You are identity-verified, and on accept your match is revealed to the dealer, who runs the assignment. Frank is not a party to it.

Part C — Common terms (both parties)

C.1 Facilitator only — no liability for the transaction. Frank is a listing and pairing interface. It is not the lessor, dealer, or a party to any lease or transfer, and is not liable for the transfer, the vehicle, the lessor’s or dealer’s decisions, credit approval, or either party’s conduct. Frank provides no warranty on outcomes and offers no protections or guarantees on the transaction.

C.2 Scope. Frank’s role here is a consumer pairing and lead interface for the assignment of an existing retail lease between consumers. Frank does not originate leases, run rentals, or offer subscriptions.

C.3 Privacy. Frank handles your information under our Privacy Policy. Listings are anonymized on the board until a match; on a match, the Lister’s identity and lease details, and the Taker’s match, are shared with the dealer to work the transfer. Both parties are identity-verified. Frank does not sell your personal information.

C.4 Indemnification. You agree to indemnify and hold Frank harmless from claims arising from your breach of these terms or the accuracy of information you submitted to the Board.

C.5 Governing law. Ontario and the federal laws of Canada applicable there.

C.6 Changes to these terms. We may update these terms from time to time. Material changes will be posted here with an updated date.