The company uses Stripe as a means to accept credit card payments from
customers making refundable reservations for Monarch's products.
Reservations are governed under the company's Bookings Policy.
Customers can make a reservation for future delivery of a tractor by
completing the established reservation process which includes executing a
confirmation form and remittance of the deposit amount. The reservation
amount will be applied to the final sales order when the customer buys a
tractor, or the reservation is refundable at the customer’s request. A
reservation is not considered a sales or purchase order for a vehicle or service
since it is non-binding and therefore the potential booking is “at-risk”. Any
request for a product that is subject to final transaction pricing, financing
arrangements and/or delivery details to complete the purchase is not
considered a booking.
Reservation Holder – A person or entity who completed the Reservation
process for a Monarch Product. A Reservation Holder is a Customer, and the
Reservation is a conditional sale of a product with partial payment by the
Reservation Holder, subject to refund at Reservation Holder request. Upon
entry into a sales order with Monarch, the Reservation will be credited against
the fees due thereunder, and the conditional sale will be cancelled in favor of
the unconditional sales order.