PSL Source User Agreement

As a condition of the use of this Website (www.pslsource.com) as a Buyer or Seller, You hereby agree to the terms of this User Agreement: 

1. Definitions

PSL:  Means a "Personal Seat License" - also known as a Permanent Seat License, Charter Seat License (CSL), Charter Ownership Agreement (COA), Stadium Builders License (SBL) or Seat Option. The owner of the PSL is provided the exclusive right and obligation to purchase season tickets every year for a particular seat within a Teams Stadium.

Buyer: Means any person who would like to purchase or who has purchased a PSL through PSL Source.

Seller: Means any person who likes to sell or who has already sold a PSL through PSL Source.

Team: Means the NFL franchise for which the PSL is valid.

Stadium: Means the venue in which the Team plays their home games and for which the PSL is valid.

Website: Means this website, www.pslsource.com.

You/Your: Means the user of the Website.

We/Our: Means PSL Source, LLC

Buyers Fees: Refers to the fees paid to PSL Source by the Buyer for our services in bringing the Buyer and Seller together to conduct a PSL transaction. Currently, we charge NO BUYERS FEES!

Sellers Fees: Refers to the fees paid by the Seller to PSL Source upon the completion of the PSL sale for our services in bringing the Buyer and Seller together to conduct a PSL transaction. Seller Fees may encompass PSL Commission and/or Associated Tickets and Parking Commission. 

PSL Transfer Fees: Means the fees charged by the Team to execute the transfer of PSLs from Seller to Buyer. The Buyer is responsible for paying the PSL Transfer Fees for transactions conducted through the Website. PSL Transfer Fees are described in greater detail in Section 4.10 of this User Agreement.

Offer: Also known as a "Bid" - Refers to a binding Offer submitted by a Buyer to a Seller through the Website interface.

Counter Offer: Refers to a binding Counter Offer submitted by a Seller to a Buyer or a Buyer to a Seller in response to an Offer or Counter Offer submitted by the other party through the Website interface.

Offer Acceptance: Occurs once an Offer or Counter Offer has been accepted by the other party. Offer Acceptance is defined in further details in Section 4.4 of this User Agreement

Final PSL Sales Price: Means the total PSL sales price negotiated between Buyer and Seller through the Website interface. The Final PSL Sales Price does not include the cost of any season or single tickets, parking passes, PSL Transfer Fees, Sellers Fees or other consideration.

Transaction Completion: Transaction Completion occurs once We receive confirmation from the Team that the PSL has been fully executed. Transaction Completion is further defined in Section 4.15 of this User Agreement.

Transfer Period: Refers to the period of time during the year in which the Team will process PSL transfers and thus allow Transaction Completion to occur. Transfer Periods are discussed in greater details in Section 4.12 of this User Agreement.

Transfer Restrictions: Refers to any impediment other than the Transfer Period which restricts the transfer of Seat Licenses. Transfer Restrictions are discussed in greater detail Section 4.13 of this User Agreement.

 

2. Our Rights and Duties

2.1 Your use of this Website: If You comply with this User Agreement, PSL Source will allow You to list Your PSLs for sale on the Website and submit Offers on PSLs listed for sale on the Website by other Sellers. We may, in our sole discretion, prohibit You or any other person from use of this Website.

2.2 Our Guarantees: PSL Source guarantees the following:

Seller Guarantee: We guarantee that after Transaction Completion has occurred, we will pay to the Seller the Final Sales Price minus the Sellers Fees.

Buyer Guarantee: We guarantee that if We receive Buyer's payment and Transfer Completion does not occur for any reason other than fault of the Buyer, We will refund Buyers payment in full.

Note: The PSL Source Buyer Guarantee does not apply to any loss or modification of the PSL after Transaction Completion has occurred, nor to any claim concerning the purchase or sale of any associated tickets, parking passes or playoff tickets. Likewise, we withhold the right to delay any payments to Seller pending any investigation permitted under the terms of this User Agreement.

2.3 Modification or Deletion of Listings: PSL Source may modify or delete any listing on the Website at Our sole discretion.

2.4 Website Interruption: PSL Source does not warrant continuous, uninterrupted or secure access to the Website.

2.5 Agency Reports: We may report to any government agency or authority or to any Team any activity that We believe may violate any law or regulation.

2.6 Release of Rights to Interest:  You agree that PSL Source may earn interest on any money held by PSL Source in conjunction with any transaction under this User Agreement, and You release any claim that You may have, now or in the future, to any such earned interest.

 

3. Your Duties & Conditions of Your Use of the Website

3.1 Registration and Protection of Username and Password: You must register through the Website and provide Us all required information for registration as a prerequisite for using the services of this Website. You shall not register a false name or use any other false information. You assume all obligations for any transaction relating to Your registered account and shall be responsible for protecting the security of your user name and password at all times.

3.2 Sales Must be through the Website:  You shall not complete any transaction begun on the Website without paying to PSL Source the required Sellers Fees. 

3.3 Accurate Information: You shall provide only accurate and complete information for any transaction occurring through the Website.  You shall not provide any information to PSL Source or list any information on the Website that is false, inaccurate, misleading, fraudulent, obscene or defamatory. You shall promptly provide to PSL Source all information required on the Website or as requested by PSL Source. You shall promptly remove, correct or modify all information that becomes incorrect, incomplete, or misleading and We may remove any such information from the Website at Our sole discretion

 

4. The Chronology of a PSL Transaction

4.1 Seller List a PSL For Sale: Members of this Website may, subject to the discretion of PSL Source, list PSLs for sale on the Website. You shall not list any PSLs for sale on the Website unless you have full authority to assign the rights to the PSLs to another party. PSL listings may be terminated or suspended by Seller through the online interface at this Website anytime prior to accepting an Offer.

4.2 Buyer Submits an Offer to Seller: Members of the Website may, subject to the discretion of PSL Source, submit binding Offers to PSL Sellers through the Website interface. As of 11/01/2011, members may submit a Buy Now offer on a PSL listing which is the equivalent of a full price offer.

4.3 Seller Responds to Buyers Offer: All Buyer Offers are automatically presented to Seller through the Sellers Account Center on the Website. In response to Buyer's Offer, Seller may:

a) Accept Offer - at which point Binding Acceptance is deemed to have occurred. All Buy Now offers are automatically accepted by the Seller.

b) Decline Offer - at which point the Offer is no longer valid and the negotiation ends. To restart negotiations, the Buyer would be required to submit a new Offer to the Seller.

c) Ignore Offer - all Offers not acted upon within 72 hours from time of Offer submission are deemed Expired and no longer binding on either party.

d) Counter Offer - at which point Seller submits a binding Counter Offer to Buyer. Once Seller submits a Counter Offer to Buyer, Buyers original Offer is no longer binding. This Counter Offer is presented to Buyer and Buyer may Accept, Decline, Ignore or Counter. Counter Offers are then exchanged until an Offer is Accepted, Declined or Ignored, thus ending the negotiation.

4.4 Binding Acceptance: Binding Acceptance occurs when an Offer or Counter Offer is accepted through the Website interface. Binding Acceptance is a binding commitment which obligates the Buyer and Seller to complete the transaction and to use reasonable efforts in the execution of the transaction.

4.5 Binding Ticket Agreement: After Binding Acceptance has occurred, Buyer and Seller shall agree on the terms of the sale of any single game tickets or parking passes associated with the PSLs being sold.

4.6 Agency Agreement: Once Binding Acceptance has occurred and a Binding Ticket Agreement has been reached, an Agency Agreement will be entered into between PSL Source and Seller, authorizing PSL Source to sell Your seat licenses on Your behalf.

4.7 Sales Agreement: Once Binding Acceptance has occurred, a Binding Ticket Agreement has been reached, and an Agency Agreement is in place with the Seller, PSL Source will enter into a Sales Agreement with the Buyer, acting as Seller's Agent, detailing the terms of the sale.

4.8 Buyers Payment:  Once a Sales Agreement is entered into between Buyer and PSL Source, Buyer will be responsible for submitting to PSL Source the Final PSL Sales Price. Buyer shall make every effort to submit payment of the Final PSL Sales Price to PSL Source within 7 business days from the date the Sales Agreement was entered into.

4.9 Cooperation to Complete Transfer: After Buyer has submitted the Final PSL Sales Price to PSL Source, We will provide detailed PSL transfer instructions to Buyer and Seller. Buyer and Seller each agree to cooperate with PSL Source, The Team as well as the other party (Buyer or Seller) to execute the transfer of the PSLs from Seller to Buyer.

4.10 PSL Transfer Fees: Unless otherwise agreed to by the Seller, the Buyer shall be responsible for paying the PSL Transfer Fee charged by the Team. The Transfer Fees for Teams represented on PSL Source may be viewed here: http://www.pslsource.com/transfer_periods

4.11 PSL Transfer Documentation:  Buyer and Seller shall each be responsible for reviewing all materials and information in regards to the PSL transfer to ensure that all transfer documents are correct and complete. PSL Source shall not be held liable for incomplete or incorrect information provided by Buyer or Seller.

4.12 Transfer Periods: Some Teams restrict the transfer of PSLs during certain predefined periods throughout the year. The periods during which the Team will process PSL transfers are referred to as the Transfer Periods. These periods vary by team and can change year to year at the determination of the Team. For successful negotiations occurring of the prescribed Transfer Periods, a Delayed Closing Addendum will be attached to the Sales Agreement entered into by the Buyer and the Agency Agreement entered into by the Seller calling for the closing of the transaction to be executed at the opening of the next Transfer Period. Buyer's Payment will be held in a trust account by PSL Source until Transaction Completion occurs. The Transfer Periods for the various Teams represented on the Website may be viewed on the following page: http://www.pslsource.com/transfer_periods

4.13 Transfer Restrictions: Some Teams place additional Transfer Restrictions on the transfer of PSLs. These Transfer Restrictions are imposed by the Team and are not controlled by PSL Source. These Transfer Restrictions include, but are not limited to: a limit on the number of times a PSL may be transferred within a certain time frame, or a requirement that any past due payments that may exist on the PSL account with the Team be settled prior to the Team processing the PSL Transfer. Should a Transfer Restriction impede the ability to reach Transaction Completion, then PSL Source shall hold Buyers Payment in a trust account until the Transfer Restriction ceases to exist, at which time the sale will proceed to Transaction Completion.

4.14 Transaction Termination: At any time before Transaction Completion, for reasons relating to misconduct, breach, or fraud, PSL Source may in its sole discretion, terminate the transaction by providing electronic notification to Buyer and Seller.

4.15 Transaction Completion:  Transaction Completion shall be deemed to have occurred once PSL Source receives electronic confirmation from the Buyer and/or Team that the transfer of PSLs from Seller to Buyer has been completed.

4.16 Payment to Seller Upon Transaction Completion: Within 7 (Seven) business days after Transaction Completion has occurred, PSL Source will pay to Seller the Final PSL Sales Price minus the Sellers Fees. Payment will be made to Seller via PSL Source company check made payable to the owner of record of the PSLs with the Team. 

4.17 Transaction Commissions: Our fee(s) for processing PSL transfers and any associated tickets and parking. Unless otherwise agreed to, the Buyer will not be charged any Transaction Commission fees. Unless otherwise noted, the Seller is will be responsible for any and all transaction commission fees. Two kinds of fees may be applicable:

a) PSL Commission: The commission charged for services provided for the PSL transfer.  Unless noted otherwise, the PSL Commission is either 10% of the Final PSL Sales Price or $200-$250 (depending on the Team), whichever is greater. See below for each team's minimum commission amount.  You can also vie more info on the minimum commision explaination page.

  •  
    • Baltimore Ravens: $200
    • Carolina Panthers: $200
    • Chicago Bears: $200
    • Cincinnati Bengals: $250
    • Cleveland Browns: $250
    • Dallas Cowboys: $200
    • Houston Texans: $200
    • Pittsburgh Steelers: $200
    • Philadelphia Eagles: $200
    • New York Giants: $200
    • New York Jets: $200
    • San Francisco 49ers: $200
    • Seattle Seahawks: $200
    • St. Louis Rams: $200
    • Tennessee Titans: $200

b) Associated Tickets and Parking commission:  Should tickets and/or parking passes be associated with the PSL transfer, a commission fee will be applied to the entire ticket and/or parking package value.  The commission amount will be either 2.5% of the package value or $100, whichever is greater.

Unless otherwise agreed upon, separate sales agreements will be put in place for the PSLs and any associated tickets and parking.

 

5. Indemnity, Exclusion, Release

5.1 Indemnity of PSL Source: As a term of the use of the Website, You shall indemnify, defend, and hold harmless PSL Source and its owners, officers, agents and employees from all damages and expenses relating to any claim by a third party resulting from Your use of the Website or to any taxes of any kind due for any purchase or sale of PSLs through the Website.

5.2 Exclusion of Damages: PSL Source shall not be held liable for any lost profits or damages relating to any PSLs, the sale of any PSLs, the failed sale of any PSLs, the Website or any services relating to the Website. PSL Sources liability to You or anyone else in any circumstance is limited to the payments described in the Buyer Guarantee and Seller Guarantees.

5.3 Intellectual Property Protection and Enforcement: This User Agreement does not in any way confer to You any right or interest to any PSL Source intellectual property. All intellectual property shall remain the sole property of PSL Source. In addition to any other rights and remedies, PSL Source withholds the right to seek an injunction against any violation or infringement of its intellectual property. You consent that any such injunctive action will be carried out under the jurisdiction and venue of the federal and state courts in Charlotte, North Carolina.

 

6. General Terms

6.1 Illegal Activities:  You shall not use the Website in any way that would involve the sale of counterfeit or stolen items or that would involve any illegal activities.

6.2 Viruses: You shall not provide any communication to the Website, directly or indirectly, that contains any programming intended to damage, interfere with, intercept or expropriate any system, data or personal information.

6.3 Investigations: You shall cooperate with any investigation by PSL Source or the Team concerning any activities related to the Website and shall promptly provide any and all requested information to PSL Source or the Team in conjunction with any investigation.

6.4 User Agreement Amendments:  PSL Source may amend this User Agreement by posting the amended User Agreement on the Website. The amended User Agreement will become effective once posted on the Website for any transactions beginning after the amended User Agreement has been posted. The amended User Agreement shall be effective for any ongoing transactions if You continue to use the Website after the amended User Agreement has been posted.

6.5 Notices: All notices to PSL Source must be submitted electronically to a registered PSL Source email address as provided on the Website or via certified mail to the address below:

PSL Source, LLC
6135 Park South Drive
Suite 110
Charlotte, NC 28210

We shall provide notice to You by posting on the Website or via email to the email address You provided at registration.

6.7 Assignability: You may not assign or transfer this User Agreement or any of Your rights or obligations under this User Agreement without the prior written consent of PSL Source. We may refuse any assignment at Our sole discretion.

6.8 Governing Law and Venue: This User Agreement shall be governed by and interpreted in accordance with the laws of the State of North Carolina. All disputes relating to this User Agreement, including disputes related to any transactions conducted using the Website, shall be resolved in the state or federal courts in Mecklenburg County, North Carolina, unless the parties to the dispute agree otherwise.

6.9 Severability: If any provision of this User Agreement is held to be invalid or unenforceable, the remaining provisions shall not be affected.

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