Membership Agreement

This membership Application and Agreement (“Membership Agreement”) is between AU Card, LLC, 3300 N. Ashton Blvd, Suite 200, Lehi, UT 84043 (“Aurae”) and the applicant (“Applicant”) for the purpose of applying for Membership in the Aurae Lifestyle Membership (“Aurae Lifestyle”) which provides personal concierge, VIP procurement, and Bespoke services. 

NOW THEREFORE, in consideration of the promises and covenants hereinafter contained, and other good and valuable consideration, the receipt and legal adequacy of which is hereby acknowledged, the Parties hereby agree as follows:

Aurae Lifestyle is an exclusive personal concierge, VIP procurement and bespoke services membership. The membership, after acceptance of the applicant, offers the opportunity to apply for an exclusive financial product through a regulated financial institution.  The financial product is subject to all applicable laws, regulations and requirements of such financial institution and is contingent upon independent approval by such financial institution, (the “Issuer”).

Upon independent Applicant approval by Issuer you will be provided the financial product agreement, (the “Cardholder Agreement”). The Cardholder Agreement is a separate agreement from this Membership Agreement and will not become effective until Issuer provides independent approval of Applicant. 

The date of Aurae’s acceptance of this Membership Agreement shall be the Start Date. Issuer is not bound by the terms and conditions of this Agreement nor obligated to approve Applicant based upon Aurae’s acceptance this Membership Agreement.

Contact.Applicant expressly agrees to be contacted at the phone number provided within the application and receive email at the email address provided therein by Aurae.  Aurae has the right, but not the obligation, to periodically contact Applicant with information, updates, and special offers via email, direct message, or SMS when their card is launched. If there are any inaccuracies in such correspondences, Aurae will not be held responsible.

Services.  The Services provided through Aurae are provided by Aurae and trusted independent third-party services.  The level, detail and costs of Services is determined by the membership level Applicant elects to purchase.  (See Aurae website for further details). Applicant is responsible for the payment of all account fees, membership dues, and services contracted through the VIP concierge service and

Applicant hereby authorizes Aurae to directly debit your account and/or credit/debit card on file with us for cost and fees of the account, membership dues, and services purchased through the concierge service. 

Card Insurance.In the event you are approved for the financial product, the physical gold card, not the financial services, are covered under this Agreement.  The 14k and 18k Card is insured through Lloyds of London. In the event the card is lost or stolen, call your Aurae Relationship Manager and we will initiate the manufacturing of a gold replacement card. The gold replacement card will take approximately twenty-five (25) to forty-five (45) business days to arrive, depending upon the level of card customization. The first replacement of your card is covered, subsequent replacement cards will incur a replacement cost of not less than 15,000.00, depending upon the current gold price and shall be deducted directly from your Card Account. 

Card Recasting.Your card will be recast every five (5) years at no cost to you. Contact your Aurae Relationship Manager for details.

Membership & Payment.The Applicant is hereby applying for a specific classification and category of membership (“Membership”) as indicated in the Schedule below.

Payment. Payment shall be submitted with this Membership Agreement. Applicant will be liable for payment from the Start Date and is committing to a minimum one-year membership from the Start Date. All payments, membership costs and fees under this Membership Agreement are non-refundable unless this Membership Agreement is not accepted

Late payments shall accrue interest at 1.5% interest or the maximum amount allowed under applicable law. Applicant shall be responsible for all costs associated with payment collection, including but not limited to attorney fees and court costs.

Membership Rules and Regulations.The Applicant has received, read, understood, and agreed to this Membership Agreement. The Applicant agrees fully to be bound by the terms and conditions of this Membership Agreement as changed from time to time.  Applicant is encouraged to check the website often for any changes to this Agreement.

No Ownership or Right to Participate in Management.In all membership categories the Applicant acknowledges and agrees that Membership in Aurae does not include (i) any ownership or other proprietary interest in Aurae or any of its assets, (ii) any right to receive or participate in the earnings of Aurae, or (iii) any voting rights or any right to participate in the management or operation of the Aurae Lifestyle Membership program.

Authorization to Contact References.The Applicant authorizes Aurae to contact and obtain information from the Applicant’s personal references if provided. The Applicant also authorizes Aurae to inquire of the Applicant’s creditors concerning the Applicant’s credit worthiness, promptness of payments, or other data to review the Applicant’s credit rating and to conduct any other check of the Applicant’s personal history. Aurae shall keep any information obtained confidential with respect to persons not authorized by Aurae to evaluate the Applicant’s application.

Indemnification and Assumption of Risk.By agreeing to this Membership Agreement, the Applicant, upon becoming a Aurae Member agrees to indemnify, defend and hold Aurae and its owners, officers, employees, partners, affiliates, subsidiaries and other agents (collectively “Aurae”) harmless from and against any and all liabilities, costs (including reasonable attorneys’ fees), claims, demands or damages incident to or arising out of the acts or omissions of the Applicant, his or her Family members, employees, partner, staff or anyone given permission or acting under the direction of Applicant to use Applicant’s Membership and services (“Guest”). In addition, Applicant agrees to indemnify and hold Aurae harmless from any and all damage to the Applicant’s person or property, and the person or property of the Applicant’s Family and Guest arising out of or relating to the use of the Membership. Applicant agrees that Applicant will reimburse Aurae for any and all transactions which are made by Guest. Applicant agree to fully cooperate in the civil and criminal prosecution of anyone engaged in unauthorized use of Applicant’s Membership, and Applicant’s failure to cooperate will be deemed as the claimed unauthorized transaction as being authorized by Applicant as valid and Applicant shall be responsible to indemnify Aurae for all expenses incurred during the investigation and resolution of any such claim. Applicant hereby authorizes Aurae to deduct indemnification amounts from Applicant’s account.

Limitation of Liability. AURAE TO THE FULLEST EXTENT PERMITTED BY LAW, AURAE’S TOTAL LIABILITY (INCLUDING ATTORNEY FEES AWARDED UNDER THE AGREEMENT) TO APPLICANT FOR ANY CLAIM BY APPLICANT WILL BE LIMITED TO USD 10,000. IN NO EVENT WILL AURAE BE LIABLE TO APPLICANT FOR ANY INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF BUSINESS, REVENUE, PROFITS, STAFF TIME, GOODWILL, USE OR OTHER ECONOMIC DAMAGE) WHETHER BASED ON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE WHETHER AURAE HAS BEEN PREVIOUSLY BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  DOES HEREBY DISCLAIM ANY WARRANTY AND/OR REPRESENTATION, EXPRESS OR IMPLIED, REGARDING ALL GOODS AND SERVICES PURCHASES MADE WITH THE CARD.    

NO CLAIM ARISING OUT OF THE AGREEMENT, REGARDLESS OF FORM, MAY BE BROUGHT MORE THAN THE SHORTER OF TWO YEARS OR THE MINIMUM PERIOD ALLOWED BY LAW AFTER THE CAUSE OF ACTION HAS OCCURRED. 

THIS SECTION SHALL SURVIVE FAILURE OF ANY EXCLUSIVE REMEDY.

The signing of this Membership Agreement constitutes an acceptance by the Applicant of the terms and conditions of Membership in Aurae in accordance with the provisions of this Membership Agreement.

The submission of this Membership Agreement to Aurae does not constitute approval of Applicant of the Membership Agreement, as an Aurae Member nor of the financial product until Applicant has received written notice from Aurae of acceptance and the payment in full of the fees.  Upon acceptance of this application by Aurae and payment in full by the Applicant, the Applicant will become an Aurae Lifestyle Member.

Force Majeure. Aurae shall not be held liable or responsible to you nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent, and for so long as, such failure or delay is caused by or results from causes beyond the reasonable control of the affected party including but not limited to fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority or the other party.

Amendment. This Agreement may only be amended, modified, or supplemented by Aurae.

Termination. Aurae may terminate this Agreement at any time for breach of this Agreement by You or at its sole discretion at any time by providing a written notice to You.You hereby hold Aurae harmless against any loss or damage resulting from or in connection with the termination of this Agreement or cessation of the services provided herein.

Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.

Assignment.This Agreement is assignable by Aurae.  This Agreement and Membership are personal to the Applicant and are not assignable by the Applicant to any other entity or individual.

Acceptance of Agreement. Your payment and/or use of the Membership is conclusive evidence of Your agreement to be bound by the terms and conditions of this Agreement.

Governing Law, Jurisdiction, and Venue. This Agreement and all related documents including all schedules attached, and all matters arising out of or relating to this Agreement, whether sounding in contract, tort, or statute are governed by, and construed in accordance with, the laws of the State of Utah, without giving effect to any conflicts of law’s provisions to the extent such principles or rules would require or permit the application of the laws of any other jurisdiction other than those of the State of Utah. The parties of this Agreement agree to exclusive bidding arbitration for any dispute arising out of this Agreement, its breach or its termination (whichever occurs first). The number of arbitrators shall be one. The place of arbitration shall be Salt Lake City, Utah. Parties agreed that this is the proper and convenient forum for any action brought under this Agreement. The parties hereby agree that there shall be a one-year statute of limitations for the filing of any request for arbitration or any lawsuit relating to this Agreement after its termination. Either party agree to provide to the other a 30-day written notice of dispute.

Waiver. You hereby release the company from any and all known and unknown rights that you may have under this Agreement following its 30-day termination. 

Schedule 1: MEMBERSHIP DUES and FEES

Approved Members will have their accounts debited by Aurae for all Membership Fees and Dues per the below schedule. Aurae Membership Dues and Account Fee Schedule:

Type

Description

Notes

Membership Fee

$37,500 USD.

One-time payment.

Membership Fee is subject to change by Aurae. Additional fees may apply.

Annual Membership Dues

 

Includes your Lloyd’s of London annual insurance coverage; complimentary card recasting upon card expiration date; and VIP concierge 24/7 access

Annual Dues will be billed on the same schedule beginning on the anniversary date of account funding each calendar year for a total of $5,000 USD annually.

 

*** Annual dues are waived provided you spend a minimum of $2 million USD through your account.

Initial Minimum Deposit

 

Upon Issuer approval, You will have 30 days from the opening of your account to fund a minimum of $250,000 USD.  

Should you not meet the minimum account funding within the first 30 days as outlined, you will be assessed a monthly custodial account maintenance fee of $497 per month until the minimum funding amount is attained. 

 

*** Should account minimum be achieved, there will be no monthly maintenance fee assessed.

Deposit Administration Fee

 

All approved deposits will be assessed a 5% administration fee

Deposit administration fee is assessed and debited at the time of initial and ongoing deposits are approved and credited to your account.

Annual Minimum Spend

 

Annual minimum spend of $1 million USD to be spent through the account each year.

If the $1 million USD minimum spend is not achieved, your account will be assessed a $7,500 custodial maintenance fee.  Accounts are evaluated on an annual basis and fees will be assessed on an individual basis.

Aurae Solid Gold MasterCard Fee Schedule:

Please refer to the Cardholder Agreement containing the complete Terms and Conditions of card usage and fees.  By using Aurae’s services, you automatically agree to this Membership Agreement, and all corresponding Terms and Conditions.

*Membership service and benefits are subject to change without notice; AU reserves the right to make substitutions.  Any change to Membership fees and dues will be provided with a 60-day notice.

CERTIFICATION AND DECLARATION:

I certify and declare with full individual authority that I agree to this Membership Agreement and  corresponding Terms and Conditions.

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