Ever dreamt of sipping espresso at 30,000 feet while reclining in a plush leather seat? Welcome to the glitzy world of private jet leasing for corporate use! It’s like upgrading from a bicycle to a Ferrari but with wings and a better view of the clouds. Leasing a private jet isn’t just about flying high; it’s about redefining the way businesses travel, and let’s face it—who wouldn’t want to skip the TSA lines and fly like a boss?
In this guide, we’ll navigate the skies of jet leasing, exploring why businesses are ditching commercial flights for their very own airborne chariots. From types of leases to financial considerations, we’ll arm you with everything you need to know to make your corporate travel as smooth as a well-mixed martini.
Introduction to Leasing a Private Jet for Corporate Use
In the fast-paced world of business, time is money—and nothing screams “I’m important” quite like arriving at your meeting in a private jet. Leasing a private jet for corporate travel has become a significant strategy for businesses aiming to maximize efficiency and impress stakeholders. By trading in long lines and cramped seats for plush leather and personalized service, companies weave luxury into their travel plans, transforming the mundane into the magnificent.The advantages of using a private jet over commercial flights are vast and compelling.
For starters, corporate travelers can bypass the hassle of airport security checks and long boarding lines, enjoying a seamless experience that allows them to maximize their productivity on the go. Imagine holding a conference call mid-air while sipping on artisanal coffee, rather than being squished between a toddler and a person with a questionable scent. Additionally, private jets offer unparalleled flexibility—companies can dictate their own schedules and flight paths, landing closer to their destinations and avoiding the chaos of commercial hubs.
Key Reasons for Leasing Instead of Ownership
Leasing a private jet provides myriad benefits over outright ownership, allowing businesses to enjoy the luxuries of private aviation without the burdens that come with owning a flying behemoth. Here are several reasons why companies prefer leasing:
- Cost-Effectiveness: Leasing avoids the hefty upfront cost associated with purchasing a jet, which can soar into the millions. Instead, businesses can allocate funds towards growth initiatives rather than parking a plane on a runway.
- Tax Benefits: Many businesses enjoy tax advantages by leasing jets, including deductions for depreciation and operating expenses. This financial strategy can lighten the load on company budgets.
- Access to a Variety of Aircraft: Leasing allows businesses to select from a diverse fleet of aircraft tailored to their specific travel needs—whether it’s a nimble jet for quick hops or a larger model for cross-country endeavors.
- Maintenance-Free Travel: When leasing, the responsibility for maintenance, repairs, and inspections rests with the leasing company, freeing businesses from the logistical nightmares of ownership.
- Flexibility and Scalability: As corporate travel needs evolve, leasing provides the ability to adjust aircraft choices based on company growth or changes in travel patterns, keeping businesses nimble in a competitive landscape.
Leasing a jet is akin to renting a tuxedo—stylish for the occasion without the commitment of ownership.
Types of Private Jet Leasing Options
When it comes to soaring through the skies in style, businesses have a buffet of private jet leasing options available. Each type serves its own unique purpose, catering to various corporate needs and budget considerations. Whether you’re looking to impress a client or whisk your team away for a strategic retreat, understanding the ins and outs of leasing can make all the difference.
Let’s dive into the aerial world of dry leases, wet leases, and beyond, and see which one suits your corporate jet-setting aspirations best.
Dry Lease
A dry lease is akin to renting an apartment without any furniture. In this arrangement, you lease the aircraft but are responsible for hiring the crew, covering maintenance, and managing other operational aspects. This type is preferred by companies that want more control over their flight operations and don’t mind taking on the responsibilities that come with it.
- Cost Efficiency: Dry leases often come with lower base costs than wet leases, making them appealing for businesses that fly frequently and want to save on overall expenses.
- Customization: Since the lessee controls the crew and operations, you can select a flight staff that meets your company’s specific needs.
- Long-Term Commitment: Ideal for companies that need a dedicated aircraft for regular use, providing predictability in scheduling and costs.
For instance, a tech firm employing a dry lease might schedule regular flights to connect with clients and partners without the hassle of negotiating new terms each time a trip arises.
Wet Lease
A wet lease is the all-inclusive vacation package of the aviation world. In this scenario, the aircraft comes fully furnished with a crew, maintenance, and operational services included. It offers convenience and is perfect for those who want to focus on business rather than logistics.
- Turnkey Solution: Everything is managed for you, which is perfect for companies with less experience in aviation management.
- Flexibility: Many businesses can choose this option for short-term needs or special projects without long-term commitments.
- Immediate Availability: Businesses can utilize the aircraft almost immediately, which is essential for last-minute travel plans.
Imagine a marketing agency needing to fly a team to a pitch meeting across the country with very little notice—opting for a wet lease means they can hop on board without worrying about hiring flight crews or handling logistics.
Other Leasing Options
Besides dry and wet leases, there are other creative leasing arrangements that can fit specific corporate needs. These include fractional ownership and jet card programs, each with its unique flavor.
- Fractional Ownership: This model allows companies to own a share of a jet, providing access without the full ownership price tag. It’s like owning a slice of pizza instead of the whole pie.
- Jet Card Programs: Offering pre-purchased flight hours, these programs provide flexibility and convenience for companies that fly irregularly but still need access to private jets.
A company that opts for fractional ownership can easily share the costs with other businesses, ensuring they’re not the only ones biting into that pizza!
“Choosing the right leasing option is like finding the perfect pair of shoes—comfort and fit matter!”
Steps to Lease a Private Jet
Leasing a private jet for corporate travel can feel like navigating a maze designed by a committee of cats and lawyers. However, with the right roadmap, you can ensure a smooth flight from inquiry to agreement. Buckle up as we take you through the steps required to lease a private jet, complete with all the necessary paperwork and timeframes. The process of leasing a private jet involves several key steps that require careful attention to detail and preparation.
From initial inquiries to signing the dotted line, here’s how to ensure you get to your destination in style, sans turbulence.
Process Involved in Leasing a Private Jet
The leasing journey starts with understanding your travel needs and ends with the final signing of the lease agreement. Here’s a step-by-step breakdown:
1. Initial Inquiry
Begin by reaching out to a reputable jet leasing company. You’ll want to articulate your requirements clearly, including the number of passengers, destinations, and travel dates. Think of this as providing a flight plan to your pilot—get it right, and you’ll be soaring in no time!
2. Jet Selection
Based on your needs, the leasing company will present options. You may want to tour the jets in person or virtually, ensuring that the cabin amenities meet your corporate standards. After all, you wouldn’t want to show up to a meeting with less legroom than a sardine can.
3. Proposal and Negotiation
Once you’ve chosen a jet, the leasing company will provide a proposal. This is where the fine print comes into play. Negotiating terms may take a little back-and-forth, like haggling over the last slice of pizza at a corporate retreat.
4. Document Preparation
After agreeing on terms, you’ll need to gather and submit the required documents for the leasing negotiations.
5. Final Agreement
Upon reviewing all documents and settling on terms, both parties will sign the lease agreement. Congratulations! You are now officially a private jet lessee. Just remember to keep the snacks stocked for your fellow passengers.
Checklist of Documents Needed for Leasing Negotiations
Having the right documents is crucial for a swift leasing process. Here are the essentials to have on hand, ensuring you don’t end up scrambling like a cat on a hot tin roof:
- Company registration documents
- Proof of insurance coverage
- Business financial statements (the less fun part, but necessary)
- Letter of authorization from your company’s decision-maker
- Identification documents for all signatories
- Tax identification number
Timeline for Each Step from Initial Inquiry to Final Agreement
Timing is everything, especially in the fast-paced world of corporate travel. Here’s a handy timeline to keep you on track:
| Step | Estimated Timeframe |
|---|---|
| Initial Inquiry | 1-2 days |
| Jet Selection | 3-5 days |
| Proposal and Negotiation | 1-2 weeks |
| Document Preparation | 1 week |
| Final Agreement | 3-5 days |
“Time flies when you’re having fun, but so do jets when you have the right lease agreement!”
Factors to Consider When Leasing a Private Jet
Leasing a private jet is not just about showing off your high-flying lifestyle; it’s about making smart choices that ensure your corporate needs are met while still looking like a rock star. When it comes to selecting the right jet, there are several factors to consider that can make or break your flying experience. Think of it as a game of chess; every piece matters, and planning is key!
Key Elements of Jet Evaluation
When choosing a jet for lease, you’ll want to assess several critical elements to ensure that your airborne adventures are comfortable, efficient, and, of course, stylish. The primary factors include the size of the jet, its range, and the amenities available.
- Size: The size of the jet should accommodate your crew and any guests comfortably. Remember, cramming too many people into a small space might make your team feel more like sardines than executives.
- Range: Consider the jet’s range, which determines how far it can fly without refueling. If your meetings are frequent and global, you’ll want a jet that can get you there without pit stops.
- Amenities: Modern jets come equipped with luxurious amenities—from plush seating to onboard Wi-Fi. Assessing these can mean the difference between a productive flight and a four-hour session of “who can sit in the most awkward position?”
Maintenance and Safety Records
One cannot overstate the importance of examining the aircraft’s maintenance history and safety records. A jet that’s been pampered and cared for is a jet you can trust to whisk you away safely without any unexpected detours—like an emergency landing in a cornfield.
“A well-maintained aircraft is not just a luxury; it’s a necessity in ensuring safety and reliability.”
A thorough check of these records will give you insight into how well the aircraft has been looked after. You want a jet with a spotless record, not one that has had so many repairs it might as well be a subject of a medical drama!
Questions to Ask Leasing Providers
Before you dive into a leasing agreement, it’s crucial to gather as much information as possible. Here’s a handy list of inquiries to consider, ensuring you don’t end up with a lemon of a jet:
- What is the aircraft’s age and total flight hours?
- Can you provide documentation of past maintenance and inspections?
- What are the qualifications of the flight crew?
- How often is the aircraft used, and for what purposes?
- What happens if I need to cancel or reschedule my flight?
- Are there any additional fees for fuel, landing, or other services?
Asking these questions can save you from future headaches, and ensure that your jet leasing experience is smoother than your favorite jazz playlist at a cocktail party.
Cost Analysis of Private Jet Leasing
Leasing a private jet is often viewed as a more flexible and financially savvy alternative to owning one, but it’s vital to understand the numbers behind this luxurious mode of travel. Spoiler alert: it’s not just about the fancy snacks on board. Here, we’ll break down the typical costs associated with leasing a private jet, how these costs stack up against ownership, and cover some hidden expenses that might just sneak up on you like an unexpected turbulence.
Typical Costs Associated with Leasing a Private Jet
When leasing a private jet, the costs can feel as high as the altitude you’ll be cruising at. Here’s a breakdown of the typical expenses you can expect:
- Lease Payments: Monthly payments that vary based on the type of jet, duration of the lease, and usage. Think of it as your fancy rent payment, but for clouds.
- Insurance: Just like you wouldn’t drive a car without coverage, you’ll need insurance for your jet. Costs can vary, but generally, it’s around 1-2% of the aircraft’s value annually.
- Fuel Costs: You’ll want that jet to stay airborne, and that means filling the tank! Prices can fluctuate significantly based on market conditions, but expect to budget several thousand dollars per flight hour.
- Maintenance: Regular maintenance is a must for safety and performance. Depending on the aircraft, this can range from $1,000 to $5,000 per flight hour.
- Crew Salaries: Pilots and cabin crew are essential for a smooth flight. Their salaries can range from $80,000 to over $200,000 annually, depending on experience and the type of jet.
- Landing Fees: These are fees airports charge for allowing your jet to touch down—think of it as a toll for flying high.
Leasing Costs versus Owning an Aircraft
When weighing the decision between leasing and owning, it’s crucial to do a side-by-side comparison. While ownership can sound like the ultimate status symbol, leasing often proves to be more cost-effective for many businesses. Here’s a detailed breakdown to consider:
| Cost Factor | Leasing | Owning |
|---|---|---|
| Initial Investment | Low to none, just the first lease payment | High, typically millions |
| Monthly Payments | Fixed lease + variable operational costs | Mortgage + operational costs |
| Depreciation | Minimal impact on lessee | Significant loss in aircraft value over time |
| Flexibility | High – switch jets or terms easily | Low – stuck with one aircraft |
| Maintenance Responsibility | Usually covered by the leasing company | Entirely the owner’s responsibility |
In the world of private jets, leasing can mean flying high without the weight of ownership.
Additional Expenses to Consider
When budgeting for leasing a private jet, it’s essential to factor in costs that often hide in the clouds. Here are some sneaky extra expenses you should keep in mind:
These costs, while often overlooked, can turn a seemingly reasonable budget into a financial storm:
- Catering: Those gourmet meals and cocktails don’t come free! Depending on the menu, catering can range from $50 to $500 per passenger.
- De-icing Costs: If you’re flying in wintry weather, be prepared for additional fees for de-icing services, which can cost upwards of $1,000.
- Charter Fees: If you need to reposition the jet for your trip, you’ll incur additional charter costs that can add thousands to your total expense.
- Ground Transportation: Whether it’s a limousine or a simple ride to the airport, don’t forget to include costs for ground transport.
- Miscellaneous Fees: Think of everything from Wi-Fi, satellite phone use, to last-minute changes—these can all add up faster than you can say “jet-setter!”
Legal Considerations in Private Jet Leasing
Leasing a private jet is no small feat, and while the prospect of soaring through the skies in style is thrilling, the legal intricacies can feel like trying to navigate a hurricane on a paper plane. Understanding the legal documents, contracts, and best practices is essential to ensure your corporate interests are safeguarded. So, buckle up as we take you through the legal landscape of private jet leasing!
Legal Documents Required for Leasing a Jet
When it comes to leasing a private jet, a variety of legal documents play crucial roles in keeping everything above board—no one wants a surprise turbulence! The primary documents typically include:
- Lease Agreement: The cornerstone of your leasing arrangement. This document Artikels the terms and conditions, including duration, costs, and aircraft specifications. Think of it as your jet’s birth certificate—essential for ensuring a smooth flight.
- Aircraft Registration: A vital piece confirming the aircraft’s legal status and ownership. Ensure it’s up-to-date, or you could become the proud owner of a highly mobile piece of airspace furniture.
- Insurance Certificates: Proof of insurance coverage is essential. You wouldn’t want to find yourself in a situation where your dream jet is grounded due to the lack of a safety net.
- Maintenance Records: These documents provide a history of the aircraft’s upkeep. Think of them as its health records, ensuring that your jet is fit for flight and not in need of an urgent visit to the mechanic.
Implications of Contracts and Terms of Service for Corporate Leasing
Contracts and terms of service are like the rulebook for your leasing adventure. Ignoring them could lead to a literal crash landing in your corporate plans. The lease agreement will stipulate the dos and don’ts of your flying experience, including fuel responsibilities, maintenance obligations, and the dreaded cancellation policies. Understanding the implications of these terms is crucial. For example, if you decide to cancel your lease, you might face hefty fees that could put a dent in your corporate budget.
Always read the fine print with the seriousness of a high-stakes poker game—because one wrong move could cost you big time!
“The fine print is where the real story is written; ignore it at your peril.”
Best Practices for Negotiating Lease Agreements
Negotiating lease agreements is an art form, akin to mastering the perfect soufflé—one misstep and it could all fall flat. To protect your corporate interests, consider the following best practices:
- Consult a Lawyer: Engage a legal expert who specializes in aviation law. They’ll arm you with the knowledge needed to navigate through the complexities and ensure your lease agreement doesn’t open a Pandora’s box of issues.
- Clarify Terms: Don’t hesitate to ask for clarity on terms that seem ambiguous. Clear communication can prevent misunderstandings that could lead to corporate chaos in the skies.
- Negotiate Maintenance Responsibilities: Ensure the agreement clearly Artikels maintenance obligations. The last thing you want is to be responsible for an aircraft that hasn’t seen a wrench in years!
- Flexible Cancellation Terms: Aim for terms that allow for flexibility should your corporate needs change. A little wiggle room can save you from a potential financial nosedive.
Choosing the Right Leasing Company
When it comes to leasing a private jet for corporate use, the choice of leasing company can make all the difference between a smooth ride and a turbulent experience—both literally and metaphorically. Picking the right leasing company is like choosing the perfect cup of coffee; it requires careful consideration of quality, service, and a sprinkle of that elusive “je ne sais quoi” that keeps you coming back for more (without the caffeine jitters, of course).To ensure you’re flying high with the right leasing company, you need to keep an eye on several key criteria.
It’s not simply about who has the fanciest jets or the best Instagram feed; you want a company that combines reliability, transparency, and a dash of humor to lighten the mood during those serious business trips.
Criteria for Selecting a Reputable Private Jet Leasing Company
Finding a leasing company that meets your needs requires a discerning eye. The following criteria should guide your selection process:
- Reputation: Look for companies with positive reviews and recommendations. A good reputation is like a well-manicured lawn—it shows that the company cares about its image and its clients.
- Experience: Opt for companies with years of experience in the industry. You wouldn’t trust a rookie pilot with your life, so why trust a newbie leasing company with your travel plans?
- Fleet Quality: Assess the condition and variety of jets available. A diverse fleet ensures that you have options that suit your specific needs—like choosing between a sleek sports car or a spacious SUV for your corporate outing.
- Transparency: A reputable company should provide clear pricing models and terms without any hidden fees. Think of it as reading the fine print; if it feels like a horror story, run in the opposite direction.
- Safety Record: Safety should be non-negotiable. Ensure the company adheres to all regulatory requirements and possesses a stellar safety record; after all, you don’t want your jet experience to include any unexpected “surprises.”
Importance of Customer Service and Support
Customer service in the leasing process can be the difference between enjoying your luxurious flight and dealing with a headache that could rival a Friday afternoon traffic jam. Excellent customer support means the company is ready and willing to assist you with any queries or issues, making your leasing experience as smooth as your jet’s takeoff.Good customer service is not just about being polite; it’s about providing timely assistance, understanding your unique needs, and being proactive in resolving issues.
Just imagine having a dedicated team available 24/7, ready to answer your questions faster than you can say, “I need a jet!” This level of support ensures that your corporate travel is efficient, and stress-free, allowing you to focus on closing that big deal rather than wondering where your jet is.
Comparison of Top Leasing Companies
When it comes to the best private jet leasing companies, a quick comparison based on customer reviews and service offerings can help you make an informed decision. Here are a few notable players in the market:| Company Name | Customer Rating | Fleet Options | Pricing Transparency ||———————-|—————–|———————–|———————-|| JetSetters Inc.
| 4.8 out of 5 | Light to Heavy Jets | Clear, No Hidden Fees || FlyHigh Jets | 4.6 out of 5 | Mid-size and Large Jets| Competitive Pricing || SkyLux Aviation | 4.5 out of 5 | Vintage to Modern Jets | Transparent Contracts || ExecuJet | 4.7 out of 5 | Customizable Options | Itemized Pricing |This table illustrates how various companies stack up against each other.
Analyzing customer ratings and service offerings can help you identify which company not only meets your needs but also provides an extra layer of comfort knowing that you’re in good hands. Choosing the right leasing company is all about finding that perfect match—one that understands your corporate needs and provides a service that feels like a VIP experience every time you step on board.
Tax Implications of Leasing a Private Jet
When it comes to the luxurious skies of private jet leasing, the financial benefits can soar just as high as the aircraft itself. Understanding the tax implications may not be as glamorous as sipping champagne at 30,000 feet, but it’s crucial for corporations looking to take full advantage of leasing a private jet. Let’s dive into the financial clouds, uncovering the potential tax advantages that come with this high-flying decision.The world of corporate jet leasing is not just about convenience and comfort; it also comes with a treasure trove of tax benefits that can lighten the financial load.
By structuring a lease correctly, businesses can enjoy various deductible expenses associated with their aviation needs. These deductions can significantly reduce taxable income, ultimately enhancing the bottom line. But be cautious, for tax regulations can sometimes feel like navigating through turbulence.
Deductible Expenses Associated with Leasing
Leasing a private jet opens the door to a variety of deductible expenses that can make your accountant smile—if they have a flair for the luxurious. Understanding these deductions is essential for maximizing the financial advantages of leasing. Here’s a breakdown of the main deductible expenses you can expect when leasing a private jet:
- Lease Payments: Monthly payments made for the lease can often be deducted as a business expense, reducing your taxable income while you enjoy the jet-set lifestyle.
- Operating Costs: Expenses related to fuel, maintenance, and crew salaries can be deductible if they are incurred in connection with the business use of the jet.
- Depreciation: Although you don’t own the aircraft, the IRS allows some depreciation deductions on the leased asset, which can aid in reducing taxable income.
- Insurance Premiums: Protecting your flying investment comes with a cost, but those insurance premiums can often be written off as operational expenses.
“By leveraging these deductions, companies can turn the costs of luxury travel into a strategic financial advantage.”
Compliance with tax regulations is essential when engaging in private jet leasing. The IRS has specific guidelines that dictate the proper documentation and substantiation required to support these deductions. Businesses must maintain detailed records of usage for both business and personal flights to ensure they’re not caught in a legal storm. Additionally, misclassification of personal use can lead to audits and penalties, making it essential to keep meticulous logs of travel.In the world of corporate travel, understanding the tax implications of leasing a private jet is akin to knowing your aircraft’s emergency exit procedures.
It ensures that while you aim for the clouds, you don’t get caught in a financial nosedive!
Future Trends in Private Jet Leasing
The future of private jet leasing is as bright as a freshly polished fuselage—full of potential and ready to soar. With an industry that has always catered to the elite, emerging trends are set to redefine the landscape of private aviation. As businesses recover from the pandemic, the demand for corporate travel is projected to skyrocket, creating a fascinating environment ripe for innovation and change.Technological advancements are driving this evolution, with new tools and platforms reshaping how companies approach jet leasing.
The rise of digital solutions, such as online booking systems and apps that mimic the ease of hailing a ride-share, are making private jet travel more accessible and user-friendly. These innovations are not just enhancing the customer experience; they’re also streamlining operations for leasing companies.
Emerging Trends in Private Aviation
The private aviation market is witnessing several trends that could significantly impact jet leasing. Understanding these trends can provide valuable insights for companies looking to navigate this evolving landscape effectively:
- Sustainability Initiatives: As environmental concerns grow, private jet leasing companies are investing in greener technologies and sustainable aviation fuels. Innovations like electric jets and carbon offset programs are becoming more common, allowing corporations to fly with a lighter footprint on the planet.
- Fractional Ownership Models: The fractional ownership model is gaining traction, enabling companies to own a share of a jet rather than the whole aircraft. This option allows businesses to enjoy the benefits of private flying without the hefty price tag, making it a popular choice among small and medium enterprises.
- Increased Demand for On-Demand Services: The instant gratification culture is spilling into private aviation. Companies are increasingly turning to on-demand jet services, which allow for last-minute bookings and tailored travel arrangements, catering to the fast-paced corporate environment.
- Integration of Artificial Intelligence: AI is revolutionizing the jet leasing process, from predictive maintenance to personalized customer service. By analyzing data trends, AI can enhance operational efficiencies and improve decision-making for both operators and clients.
- Enhanced Safety Protocols: Post-pandemic, safety has become a top priority. Leasing companies are implementing strict health and safety measures, utilizing advanced technology for sanitation and contactless services to reassure travelers.
The expected growth of corporate private jet travel is reminiscent of a phoenix rising from the ashes. As businesses adapt to a new normal, the flexibility and convenience offered by private aviation will likely attract many corporations looking to recover lost time and opportunities.
“In the face of adversity, the innovative spirit of private aviation continues to soar, ensuring that the sky is not the limit, but merely the beginning.”
Ultimately, these trends indicate a dynamic shift within the private jet leasing market, shaped by technological advancements and evolving corporate needs. Companies that can embrace these changes will find themselves not just keeping pace, but soaring ahead in the competitive landscape of corporate jet travel.
Closing Notes
So there you have it—leasing a private jet isn’t just a dream reserved for the ultra-rich; it’s a savvy business move that could elevate your corporate game. With the right leasing company, understanding of costs, and a sprinkle of legal know-how, you can transform air travel from mundane to magnificent. Now go forth and conquer the skies, one luxurious flight at a time!
Questions Often Asked
What is the difference between a dry lease and a wet lease?
A dry lease typically includes just the aircraft without any crew, while a wet lease comes with the aircraft, crew, maintenance, and insurance. Think of it as the difference between renting a car and getting a chauffeur.
How long does the leasing process usually take?
The leasing process can take anywhere from a few days to several weeks, depending on paperwork and negotiations. Patience, grasshopper; good things come to those who wait in the lounge!
Are there any hidden costs with leasing a private jet?
Yes, be on the lookout for hidden costs like fuel, crew, maintenance, and airport fees. It’s like ordering a fancy dish and realizing sides aren’t included!
Can I customize the jet interior while leasing?
Customization options may vary by leasing company and jet type, but many offer some degree of flexibility. Just think of it as decorating your office, but in the sky!
What happens if my flight is canceled?
Cancellation policies differ, so check your contract! Depending on the terms, you might get a refund, a credit, or just a sad face emoji.
