Buyback

1. Program Description

Secured Tech’s Buyback programs, including the Community Buyback option, (collectively referred to as “Program”) enable school districts to maximize the residual value of their devices. Clients may receive a payment or an account credit for Buyback devices with value.

Expected Buyback payouts will be established in a formal quote, and eligible devices will be assigned a payout value according to Secured Tech’s evaluation criteria as detailed in the Buyback Device Evaluation Guide. Devices without value may be processed and recycled at Secured Tech’s discretion.This Program promotes sustainable reuse of educational technology assets while ensuring secure data disposition and compliance with all applicable regulations.

2. Ownership Transfer and Chain of Custody

1. Ownership Transfer. All devices sold to Secured Tech become the property of Secured Tech upon physical pickup.
   
2. Chain of Custody: Documentation will be provided prior to or at pickup to be signed by an authorized representative of the Client and Secured Tech. The signed pickup documentation constitutes proof of devices sold, transfer of ownership, and release of risk of loss.
   
3. Insurance Coverage. Once devices are in Secured Tech’s possession, coverage under Secured Tech’s general insurance policy will begin.
   

3. Device Preparation and Client Responsibilities

The Client shall:

1. Provide an accurate list of device models and quantities to be included in the buyback. 
   • Sample serial numbers must be provided to Secured Tech for each model before a quote may be provided. 
   • Engraved, etched, or otherwise modified devices must be disclosed before a buyback offer may be provided.

Changes in quantities must be communicated to Secured Tech 3 business days prior to a scheduled pickup.

2. Remove all devices from any software or systems that may restrict access to or usage of the device, including but not limited to the the following:

• MDM systems (e.g., Google Admin);
  
• Apple School Manager (ASM);
  
• BIOS locks or firmware passwords; and/or
  
• Any other system, security, or management software restrictions.

Devices not properly released will incur delays or fees, as described below:

• Devices should be unlocked prior to the buyback.
• Secured Tech will provide a list of all devices to be processed after the devices are received. 
• After devices are processed, a list of any locked devices will be provided to the Client to be released within 15 business days.
• After the initial 15-day deadline, 25% of the payout value is lost and an additional 5 business days will be provided to unlock all devices.
• Any devices still locked after these next 5 business days will be paid out at $0.

3. Coordinate with Secured Tech to arrange the pickup of the agreed up devices. Ensure devices are boxed, palletized, and accessible at the agreed pickup location and time unless otherwise approved in writing by Secured Tech.

4. Designate an on-site Client representative authorized to sign the pickup documentation and approve documentation, such as device counts.

5. Provide a minimum of 10 business days notice when scheduling any onsite service that requires overnight stay for Secured Tech employees.

4. Condition and Grading Criteria

Device values are determined using the criteria on Secured Tech’s Buyback Device Evaluation Guide, incorporated by reference into this Addendum. These criteria are used to evaluate the cosmetic and functional conditions of devices.

Engraved, etched, or otherwise permanently marked devices will be subject to a reduced payout as detailed on the current Buyback Device Evaluation Guide.

The applicable version of Secured Tech’s Buyback Device Evaluation Guide shall be determined as of the date the applicable quote is executed by the Customer. In the event that a quote is not executed, or if devices are collected without a fully executed quote, the applicable version of the Buyback Device Evaluation Guide shall instead be the version in effect on the date of device pickup. All device evaluations shall be performed in accordance with the determined version of the Buyback Device Evaluation Guide.

5. Payment and Reconciliation

1. Secured Tech will issue payment within fifteen (15) business days of the final Buyback report being sent to the Client. Any concerns with the details of the report must be reported to Secured Tech within five (5) business days of receipt.
   
2. A final Buyback report will be provided to the Client after all devices are processed.
   
3. Secured Tech can issue check, ACH, or account credit payments. If the Client’s preferred payment method is unknown, Secured Tech may issue an account credit that may be used for any future purchase or a check that will be sent to the Client’s address as listed on the executed quote.
   
4. Devices found to be activation-locked, stolen, or unreleased from MDM may be excluded from payment and, after notice, recycled.
   

6. Delays and Force Majeure

Secured Tech’s pickup, processing, and payment timelines are targets and may be extended due to:

• Transportation or carrier issues;
  
• Weather or natural disasters;
  
• Labor shortages or facility closures; and/or
  
• Tariffs, customs, or supply-chain constraints.
  

Such delays will not constitute breach of contract, provided Secured Tech communicates material delays and acts in good faith to complete performance.

7. Environmental and Data Security Compliance

Secured Tech adheres to applicable federal and state standards for device handling and disposal.

All data is wiped to NIST 800-88 Rev. 1 or equivalent standards, and documentation of data sanitization will be provided upon request.

8. Client Audit and Reporting

Upon request, Secured Tech will supply a detailed Buyback report listing all serial numbers processed, condition grades, and final disposition categories.

This report fulfills all audit documentation requirements for the Program.

9. Limitation of Liability

Secured Tech’s total liability under this Addendum shall not exceed the total amount paid or payable to the Client under the applicable executed formal quote.

In no event shall Secured Tech be liable for indirect, consequential, or punitive damages.