Best Land Auction prohibits sellers from including excessive fees on their auctions. This includes, but is not limited to, closing costs, deed transfer and recording fees, documentation fees, and seller fees. Best Land Auction reserves the right to determine if excessive fees are included on an auction.
I. Basic Account and Use Information
If you are applying as an individual, you expressly represent and warrant that you have the capacity under applicable law to enter into a legally binding contract; for example, if you are a minor, you may only use Best Land Auction’ services in conjunction with your parent(s) or guardian(s). If you are applying as a legal entity, you expressly represent and warrant that you have been duly authorized by your company, partnership, or other legal entity to enter into agreements on behalf of that entity.
1.2 DESCRIPTION OF BEST LAND AUCTION USE
Best Land Auction provides an online venue for Sellers to list assets for sale and for Buyers to locate assets for sale in order to facilitate the transfer of ownership of assets (“Assets”). Unless specifically stated otherwise in any asset listing, assets available through the Site are offered by Sellers and not by Best Land Auction. Best Land Auction is not a party to the offer or sale of these Assets, does not own the Assets listed on the Site, and only provides the technical means for the offer and sale of the Assets. Best Land Auction does not ensure that a Seller and Buyer will complete a transaction. Best Land Auction is not responsible for fulfillment of any Asset sale or for facilitating the delivery of said Asset(s). Although Best Land Auction may supervise the content of information of the Site (see “Supervision of Content” below), Best Land Auction does not assume responsibility for verifying the material, content and information on its Site and is not responsible for any damages, losses, expenses or other injuries incurred by any Member as a result of relying on any material, content and information posted on the Site.
1.3 MEMBER SIGN UP AND INFORMATION
(b) Username and Password. Once a party becomes a Member of the Site, the Member will select a username and a password. Members are entirely responsible for maintaining the confidentiality of their usernames and passwords. Furthermore, Members are entirely responsible for any and all activities which occur under a Member’s username and password. Member agrees to immediately notify Best Land Auction of any unauthorized use of Member’s username or any other breach of security known to Member. Best Land Auction may terminate the membership of any Member due to the misuse, improper use or unauthorized use of their username, password or this Site. Best Land Auction shall not be responsible, and the Member shall hold harmless Best Land Auction for any actual, special, consequential or incidental losses or damages arising from the misuse, improper use or unauthorized use of their username, password or this Site.
II. Conduct Of Auctions On The Site
2.1 PROCEDURE FOR CONDUCTING AUCTIONS
2.2 EXTRAORDINARY CIRCUMSTANCES; LIMITED RIGHTS TO RE-OPEN AUCTION
Notwithstanding anything herein to the contrary, in the rare event of a documented interruption in service, technical error or other exceptional circumstance of a similar nature (defined by and determined at the sole discretion of Best Land Auction and its affiliates), with respect to the services provided by Best Land Auction or its affiliates (excluding technical errors with the Member’s own equipment or Internet connection), the Seller for any adversely affected auction shall have the right, within two (2) business days after such auction has closed, or a “Sold Notice” issued, to direct Best Land Auction to re-open such auction. In such a case, the affected “Sold Notice” shall immediately become void and of no force and effect. Best Land Auction shall promptly send an email to all documented Bidders, including any Bidder that received a “Sold Notice”, specifying the details pursuant to which the affected auction shall be re-opened. At the direction of the Seller, participation in the re-opened auction may be restricted to only those who participated in the original auction. Bidders must make claims of interruption in service or technical error with respect to the services provided by Best Land Auction within one (1) business day after an auction has closed. Best Land Auction will make final determination that there has been a documented interruption in service or technical error on the Best Land Auction Site that has impacted the Member’s ability to place a bid. However, the decision to re-open any auction shall continue to be at the sole discretion of the Seller.
2.3 SETTLEMENT OF TRANSACTIONS GENERALLY
(a) Settlement between Seller and Buyer. The settlement of a purchase and sale of an Asset following a completed bidding process shall be conducted pursuant to this Section, unless otherwise provided in the Seller’s conditions of sale or in a written agreement executed by the Buyer and Seller. Unless otherwise provided in the Seller’s conditions of sale or otherwise agreed upon by the Seller and Buyer in writing, final settlement shall take place no later than five (5) business days after Buyer is given a Sold Notice. Sellers shall provide unsigned copies of any documents of transfer or other necessary settlement documents to the Buyer within two (2) business days of receiving the Sold Notice. In order to conduct settlement, the Buyer shall send the full purchase price (including any Buyer’s Premium, minus any deposit previously paid) to the Seller pursuant to payment information provided no later than two (2) business days after a Sold Notice is issued. Upon receipt of the full purchase price, the Seller shall send the fully executed settlement documents, as appropriate, to Buyer by overnight mail at Seller’s expense. In some real estate transactions, the delivery of an Asset may take longer if there is an administrative delay in the transfer of ownership at no fault of the Seller. However, to ensure a timely transfer of the real estate title, the Seller is required to submit all necessary transfer documents to the appropriate jurisdiction within five (5) business days after the Seller receives payment in full of the Buyer. If the Seller is unable to convey title to the property as described in the listing, or clear title to the property if not otherwise described in the listing, the winning bidder will not be considered a non-performer, if the winning bidder does not complete the transaction.
(b) Return and Refund Policy. Best Land Auction requires all Sellers in certain asset categories (for example, jewelry, coins, and artwork) to provide a return and refund policy that meets Best Land Auction’ minimum standards. The Best Land Auction policy states that a 100% return/refund policy is required for any auction in these categories that includes an appraisal, certification, or stated/estimated retail value.
If the asset listing does not include an appraisal, certification, or stated/retail value, the seller may charge a restocking fee (not to exceed 15% of the total transaction price) to offset the cost the seller incurs for accepting a return and issuing a refund. Refunds will not include the Seller’s original shipping and insurance charges.
To ensure fairness for both parties, the Buyer must contact the Seller within ten (10) calendar days from receipt of the item and return the item within fifteen (15) calendar days to the Seller. The cost of return shipment will be the responsibility of the Buyer. Best Land Auction recommends that the returned item be shipped return receipt and be insured. The item must be in its original condition, not worn or altered, any identifying tags must not be removed, and all original documents must accompany the item return. The Seller must have possession of the item within fifteen (15) calendar days from the day the Buyer received the item; otherwise it is at the Seller’s discretion whether to provide a refund. Best Land Auction requires that the Seller promptly send the refund within ten (10) calendar days after receiving the returned item.
All returns and refunds must be handled directly by the Buyer and Seller. Please review the Best Land Auction, Inc. Seller Guide for more information. Abuse of our return policy will not be tolerated. Best Land Auction has the right to suspend any Buyer with frequent and excessive returns.
(c) Appraisal and Certification Policy. Best Land Auction does not require a Seller to provide an appraisal, grading card or certification of authenticity for auctions listed on the Best Land Auction site. However, if such documentation is used, it must identify the item, and specify the qualifications and contact information of the appraiser/grader/certifying entity. Documents showing valuation or grading that are internally generated by the Seller or by an affiliate of the Seller must be noted as an “In-house appraisal” and include the appraiser’s name and contact information. Any asset listing not clearly displaying the source of the appraisal or contact information may be removed from the Web site.
Independent and third-party appraisals must be clearly indicated and include the company name and contact information. An independent appraiser/third party appraiser must have no other revenue relationship with the Seller except for the services related to determining value.
2.4 Seller Rating System
After the close of the auction, the Buyer can rate the Seller on the following categories: Product Quality/Value, Communication, and Ease of Transaction. The Seller is rated on a score of 1-5 stars, with 1 star being very dissatisfied and 5 stars being very satisfied. This rating system will provide prospective Bidders with useful feedback from past transactions with the Seller. The requirements and restrictions include the following: Only the winning Bidder may submit feedback for each auction, no comments can be entered or posted and only winning Bidders with an active account can submit a rating. Sellers are restricted from marketing this feedback rating on any other online or offline venue. The overall star rating system will be posted on each of the Seller’s auction listings. This can be found by the Seller’s name with the number of feedback ratings in parenthesis.
2.5 Seller Identity Verification
In order to protect the reputation of its Sellers and to provide an added measure of security for its Buyers, Best Land Auction maintains an Identity Verification procedure. The Identity Verification procedure is one tool in enhancing the Internet buying experience. However, this Identity Verification process should be used in conjunction with other buyer protection tools, such as the Best Land Auction Seller Rating System and the Jewelry Refund Policy. We also encourage Bidders to communicate directly with potential trading partners through the tools available on the Site. Bidders may also wish to consider using a reputable third-party escrow service. Ultimately, the Seller and Buyer are responsible for successful completion of a transaction. Despite the tools offered to its Members, Best Land Auction cannot guarantee the completion of a transaction between a Seller and a Buyer. See Section V. for an explanation of Best Land Auction’ responsibilities and limitation of liabilities, as well as available dispute resolution alternatives.
III. Responsibilities Of Buyers And Sellers
3.1 WHO CAN BID?
Bidders must sign up with Best Land Auction as a Member and be capable of forming legally binding relations under applicable law. The services provided by Best Land Auction are not available to individuals under the age of 18 years old and any other individuals who are legally prohibited from, or otherwise incapable of, entering binding contracts. Sellers are restricted from bidding on their own auctions. Sellers may not manipulate prices of auctions by having others bid on their assets for them. First time Bidders must successfully go through an ID Verification process.
3.2 WHO CAN SELL?
Sellers must be the rightful owners, or authorized by the owners of such property, a court of law, or through power of attorney to sell an Asset. Upon request by Best Land Auction, Sellers must produce evidence of ownership and/or authorization to sell on Best Land Auction. Sellers may be required to complete an Identity Verification process prior to listing an Asset for sale on the Best Land Auction site. Sellers may be requested to provide certain personal information to confirm his or her identity through a third-party processor or other means.
3.3 CONTRACTUAL OBLIGATIONS OF BUYERS AND SELLERS
(c) Completing a Settlement. The Seller and the Buyer are jointly and equally responsible for completing the sale of an Asset. After the online bidding is complete, unless otherwise indicated/engaged, the Seller is responsible for taking all necessary actions to complete the sale once a winning Bidder is identified to the Seller. Best Land Auction retains the rights to asses a fee and/or terminate a Seller’s rights to use the Site in the event a Seller fails to perform its obligations to settle on a completed auction. Similarly, the Buyer is responsible for taking all necessary actions to complete the sale. Best Land Auction retains the rights to terminate a Buyer’s rights to use the Site in the event a Buyer fails to perform its obligations to settle on a completed auction. If an Asset is located in the U.S. and the seller requests that you send funds outside the U.S., do not send funds before contacting Client Services at [email protected].
(d) Material Change in Description of Asset. Best Land Auction may allow Sellers to change their asset listing prior to acceptance of the first bid; however, the date of the change will be noted on the listing after bidding commences. In the event a Seller materially changes the description of an Asset after the commencement of the bidding process, then all Bidders who have previously made a bid on such Asset will be notified by e-mail that the description of the Asset has been materially changed. Such Bidders will then have three (3) business days (or another period provided in a notice to such Bidders) to amend or retract his/her/its bid, after which time all bids will remain irrevocable.
(e) Other Conditions of Purchase and Sale. All purchases and sales of Assets and use of the Site by Members shall be conducted in compliance with applicable law. Purchases made on the Site are entirely without recourse to Best Land Auction. All Members acknowledge and agree that closing of all sales of Assets may be subject to final approval of a court (including a bankruptcy court) or other agency and that if such approval is not obtained, the Seller may withdraw such Asset after a completed bidding process without any recourse or liability on the part of Seller. In the case of a sale of any Assets from a bankruptcy estate, a sale is not final until a bankruptcy court gives final approval of the sale.
(g) Conducting Due Diligence. Bidders are required to conduct any research or due diligence of an Asset that they wish to conduct prior to making a bid. Bidders wishing to physically inspect Assets seen on the Site may make arrangements to do so at Seller’s discretion. The Asset description may contain information regarding inspections and other due diligence opportunities available. However, in the case of an Asset such as a promissory note, mortgage, or other Asset that involves a payer or debtor or other third party that is not a Seller and not part of the purchase and sale transaction on this Site, then Bidders are strictly prohibited from contacting such payers, debtors, or other third parties until the bidding is complete, the winning Bidder has paid for the Asset in full, and the purchase and sale of the Asset is settled. Permitted due diligence includes reviewing the Seller’s description of an Asset, as well as reviewing land records, tax records, appraisals, and other publicly available sources.
(h) Electronic Signature. You understand and acknowledge that in various places on the Site it may require the Bidder or Seller to input a password or their name, and to then click a button labeled “accept,” “agree,” “Bid,” “acknowledge,” or some such similar phrasing, in which case the Bidder or Seller (as the case may be) is agreeing to the specified terms, and by entering the password or your name (including where your name is linked to your password and auto-fill inserted) and clicking the button you are providing your “Electronic Signature” which shall be as binding, enforceable and valid as a written “pen and paper” signature in accordance with the provisions of the Electronic Signature in Global and National Commerce Act (15 USC 7001, et seq.), as amended or revised from time to time. You understand and agree that certain transactions may also require additional electronic documents, contracts, agreements, signatures, or acceptances and your providing your Electronic Signature shall also be as binding, enforceable and valid as a written “pen and paper” signature in accordance with the provisions of the Electronic Signature in Global and National Commerce Act (15 USC 7001, et seq.), as amended or revised from time to time.
3.4 OTHER RESPONSIBILITIES OF THE SELLER
(b) Compliance with All Applicable Laws. Sellers are also responsible for complying with all applicable local, state, federal, or foreign laws, rules, regulations and legal approvals regarding the sale of any Assets, including without limitation, bankruptcy court approvals, federal and state securities laws regarding the sale of any Assets that may be deemed a “security,” Seller disclosure laws for any real estate Asset, including environmental and broker licensure laws, export licensing and laws governing the sale, packaging, shipment, distribution and labeling of products, published materials or information, and all other applicable local, state, federal, or foreign laws, rules and regulations pertaining to the sale of any Assets. Sellers are solely responsible for ensuring that all items offered for sale are offered in full compliance with any applicable legal limitations or restrictions.
(c) Linking with Other Web Sites or Information. No listing shall establish a link to (i) any Web address not pertaining directly to the asset listing, (ii) any private Web page with site navigation enabled, (iii) any promotion of email alerts for items not listed on Best Land Auction, (iv) any reference to auctions listed on sites other than Best Land Auction, or (v) any advertisement or statement for any business, individual, organization, concept or entity. If prohibited links are found after the auction is live, Best Land Auction has the right to cancel auction.
(d) Accepting Risk of Buyer’s Ability to Complete a Transaction. Sellers acknowledge and agree Best Land Auction does not provide any representations regarding the ability of Bidders to pay Sellers the bid price for the Asset being sold.
(e) Payment of Fees to Best Land Auction. Best Land Auction’ fees are posted on the Site. Seller agrees to pay applicable fees without offset. Unless otherwise agreed to by Best Land Auction, payment of the Listing Fee and Premium Services fees (if selected) are due when the Seller completes the listing (“Sell an Asset”) process. Auction Completion Fees related to a completed auction are due to Best Land Auction at the time an auction ends and is marked as Sold, unless other payment terms are agreed to by Best Land Auction. If the Seller does not notify Best Land Auction in writing of a winning Bidder’s failure to complete the transaction (“Non-Performing Bidder”) within 30 days of the close of the auction, the Auction Completion Fee is due in full and is not refundable. Unless otherwise agreed to by Best Land Auction, all fees will be charged to the Seller’s credit card account that is provided during the listing process. By completing the listing process, Seller authorizes Best Land Auction to charge the Seller’s credit card account, unless otherwise agreed to in writing by Best Land Auction. If the Seller’s card is no longer valid at the time the auction ends and the Asset is marked as Sold, Best Land Auction reserves the right to invalidate the auction unless the Seller has made alternate payment arrangements. Any fees or charges not paid by the Seller within 30 days of provision of service will be subject to a late fee equivalent to the rate of 1.5% per month from the date of provision of service. See the Bid4Asset Fee Schedule for additional information regarding fees.
Members may request that Best Land Auction refund charges to a Member’s charge, credit or debit cards. Best Land Auction will review such request and respond within two (2) business days. However, chargebacks requested through Member’s issuing bank are an unacceptable charge dispute resolution method. Member agrees to immediately pay to Best Land Auction any chargebacks of amounts originally charged to such Member’s charge, credit or debit cards, as well as for fees incurred by Best Land Auction for such chargebacks. Member’s responsibility for chargebacks and related fees will continue even if Member has received the funds, and/or closed the Best Land Auction account.
(f) Buyer’s Premium. Seller may elect to charge a “Buyer’s Premium”. The Buyer’s Premium is added to the bid price to determine the total amount due from the Buyer. Such Buyer’s Premium must be disclosed in the Asset listing information and may not exceed the completion fee that a seller is paying Best Land Auction. The Seller is responsible for collection of the Buyer’s Premium from the Buyer. Failure to collect the Buyer’s Premium does not offset the Seller’s responsibility to pay fees to Best Land Auction.
(g) Including Fees in Auction Listings Sellers may add reasonable fees to their auction to be reimbursed for services they provide, such as shipping and handling or deed transfer fees. All fees that a Buyer is expected to pay in addition to the Minimum Bid and the Buyer’s Premium must be clearly stated in the auction. Sellers are prohibited from including excessive fees in their auctions. Fees are defined as any fee that the winning bidder is expected to pay beyond the bid amount and the Buyer’s Premium. Best Land Auction may, at any time, request that a Seller provide documentation to justify the fees listed on an auction. If Best Land Auction determines, in its sole discretion, that the fees listed on an auction are excessive, Best Land Auction will charge the Seller 10% of all fees listed on the auction. Repeated offenses of a Seller listing auctions with excessive fees may result in the Seller’s suspension from the Site.
(h) Exclusivity. Unless otherwise agreed to by Best Land Auction in writing, Seller agrees that Best Land Auction will be the sole venue for each listed Asset for the term of the listing online or otherwise. Seller may not duplicate any listed Asset on any other online site or through any offline sales method. If a Buyer makes an offer outside of the Best Land Auction venue, it is the Seller’s obligation to have that Bidder sign up and have that bid submitted on the Best Land Auction Site for the Asset in question. Once an Asset is listed on the Site, if a Seller sells the Asset outside the Best Land Auction venue, then Best Land Auction shall be entitled to receive the full Auction Completion Fee that it would have received if the Asset were sold on the Site.
3.5 OTHER RESPONSIBILITIES OF THE BUYER
- If a deposit was required to bid, your deposit will be forfeited.
- If the auction does not require a deposit, bidders are required to have a credit card number on file. Non-performing bidders will be charged a fee of $250 for real estate auction and $100 for all other auctions.
- For the first “non-performing,” offense: You will be automatically suspended from buying or selling on Best Land Auction for 60 days. You must request re-instatement in writing via email to [email protected]. Suspension may be lifted 60 days after we receive your request for reinstatement.
- For the second “non-performing,” offense: You will be permanently suspended from the Best Land Auction site.
IV. Rights and Responsibilities of Best Land Auction
4.2 SUPERVISION OF CONTENT
4.3 TERMINATION OF MEMBER’S RIGHTS TO USE SITE
4.4 COMMUNICATION WITH MEMBERS
Members may elect to receive notification of new Asset listings and other opportunities available to Sellers or Buyers. Best Land Auction also relies on electronic messaging to keep its Members informed of events on its Site and the Member agrees to allow Best Land Auction to so communicate. Member may “Opt Out” of such communications by contacting [email protected] Land Auction.co.
4.5 NATURE OF BEST LAND AUCTION RESPONSIBILITIES
4.6 BidDeposit™ Services
(a) Service Description. For certain auctions, a Seller may require that Bidders deposit a specified dollar amount to qualify to place a bid. The BidDeposit service helps ensure (but is not a guarantee) that the Bidder is willing to purchase the Asset if he or she is the winning Bidder.
(b) Authorization to Hold and Release Funds. By submitting a BidDeposit or settlement funds (see Section 4.7), you authorize Best Land Auction to keep possession of all funds deposited, including any additions to those funds (together the “Deposited Amounts”), and to deliver and dispose of the Deposited Amounts, according to the terms and conditions of this Agreement.
Except when expressly provided in this Agreement, this Agreement and Best Land Auction’ disbursement rights and obligations under this Agreement are not affected by the terms of your auction, or purchase or sale contract with a Bidder or Seller to which the Deposited Amounts relate, even if Best Land Auction becomes aware of the terms of that contract and even if that contract does not expressly provide for a deposit or forfeiture.
Best Land Auction will acknowledge receipt of all Deposited Amounts by posting the amount and the date of transfer for view by Member in the Member’s “My Account” page of the Best Land Auction Site. Best Land Auction will also provide email notification whenever funds are redelivered to the Member or sent to a Seller, either as a forfeited deposit or as a purchase deposit. Data in the Member’s My Account page, as well as email notices, shall be conclusive proof of the delivery and receipt of funds, absent manifest error.
Member acknowledges that Best Land Auction is not FDIC-insured, but that Best Land Auction may maintain Deposited Amounts in escrow trust accounts (the “Escrow Account”) at one or more FDIC-insured financial institution(s). Best Land Auction may commingle the Deposited Amounts of more than one Member in its Escrow Accounts but shall maintain individual account records for all Members. Best Land Auction shall not be obliged to credit Members with interest on Deposited Amounts.
(c) Availability and Return of Funds. Deposited Amounts will initially become available, depending on the method of deposit, after the time periods specified on the Best Land Auction Site. Generally, deposits made by personal or business check will incur a delay of seven (7) business days, or the maximum period permitted by law, from the date of receipt by Best Land Auction. Deposits made by certified check will incur a delay of three (3) business days. Deposits authorized by Automated Clearinghouse (“ACH”) transfer or electronic check may incur a delay of up to four (4) business days at the option of the Seller. THE MEMBER HEREBY WAIVES ANY RIGHT TO: (i) PLACE A STOP PAYMENT ON ANY DEPOSIT VIA ANY FORM OF ELECTRONIC CHECK SUBMITTED, OR; (ii) REVERSE ANY ACH TRANSFER MADE FOR ANY DEPOSIT OR DEPOSIT SERVICES. The Member hereby agrees to make immediate cash payment to Best Land Auction for any funds not received by Best Land Auction due to a stop payment or insufficient funds (NSF) and for any funds transferred by charge, credit or debit cards which are later made subject to a chargeback.
Deposited Amounts, once available, remain available to Member until designated as a BidDeposit, as payment, or as refund processed to Member.
Upon notice from Member delivered to Best Land Auction by email, or at Best Land Auction’ election at any time, Member’s account may be closed. Closing an account cancels access to all Best Land Auction services immediately. When an account is closed, Best Land Auction shall return to Member all available funds as they become available and/or are released upon Member’s request from BidDeposit, minus any payments, fees and charges due from Member, in accordance with the procedures set forth in the preceding paragraph. Member waives advance notice of discontinuing access to the services under New Jersey Code, Commercial Law Section 22-814.
(d) Release of Funds – Winning Bid. If a Member is the winning Bidder in an Auction requiring a BidDeposit, Best Land Auction will forward the entire BidDeposit from available funds (less any Seller fees for this service that may apply) to the Seller to apply to the final purchase price. In the case of a storefront deposit, if all winning bids in total are less than the required storefront BidDeposit amount, Best Land Auction will send the total of the winning BidDeposits to the Seller and upon request, release the balance of the BidDeposit to the Member. The BidDeposit funds from the winning Bidder will be used as a downpayment for the purchase of the Asset(s). Should the winning Bidder fail to complete the purchase of the Asset(s), the BidDeposit will be forfeited, and the Seller is free to relist the Asset(s) or otherwise dispose of the property.
(e) Release of BidDeposit – No Winning Bids. If the member fails to win the auction, Best Land Auction will make all reasonable efforts to return available funds no later than ten (10) business days from the business day upon which the Member’s withdrawal request is received, or after funds become available, whichever is later. Best Land Auction may solicit backup bids from non-winning Bidders (the “Backup Bidder”) should any winning bidder fail to perform. Backup Bidders are under no obligation to purchase an Asset after the close of an auction. However, upon written agreement from the Backup Bidder, the Backup Bidder will be considered the winning bidder and Best Land Auction will transfer the BidDeposit to the Seller.
(f) NON-LIABILITY FOR COMPLIANCE WITH ATTACHMENTS OR FINANCIAL DISCLOSURES REQUIRED BY LAW. If any Deposited Amounts shall be attached, garnished or levied upon by any order of court; or if the delivery of any Deposited Amounts shall be stayed or enjoined by any order of court or by any other order of any governmental agency; or if any judgment or decree shall be made or entered by any court or arbitral tribunal affecting such property or any part thereof or requiring any action by Best Land Auction, Member expressly authorizes Best Land Auction to obey and comply with all such writs, orders, judgments or decrees; and Best Land Auction shall not be liable to Member, nor to any successor or assign, nor to any other person or other legal entity, by reason of such compliance, notwithstanding that such writ, order, judgment or decree may be subsequently reversed, modified, annulled, set aside or vacated. Best Land Auction may be required to disclose, or may voluntarily disclose, to one or more governmental agencies information concerning Member’s Deposited Funds, payments or withdrawals of funds, in order to comply with one or more laws of the United States or of other governments. Best Land Auction shall not be liable to Member, nor to any successor or assign, nor to any other person or other legal entity, by reason of its compliance with any such law.
4.7 DIRECTPAY SETTLEMENT SERVICES.
(a) Services Description. Best Land Auction may offer DirectPay settlement service. Through this service, Best Land Auction may facilitate the sale and purchase of an Asset by collecting the sale proceeds from the Buyer and forwarding the proceeds to the Seller. This settlement service is usually offered in conjunction with the BidDeposit service but may be offered as a standalone service.
(b) Obligations of Sellers
- Seller shall post on the Best Land Auction Site the terms of sale for the Asset.
- Seller shall deliver the Asset directly to the successful Bidder following notification that the Bidder has made full payment through DirectPay.
- Seller shall use a delivery service, if shipping is required, that provides a confirmation of delivery, and Seller shall provide Bidder with a tracking or reference number for the shipment of the items when shipped.
- In the event of a dispute by the Bidder of delivery, Best Land Auction may require proof of delivery prior to releasing funds to the Seller. If proof of delivery cannot be made, Seller agrees that Best Land Auction may return the funds (less Best Land Auction fees due) to the successful Bidder.
(c) Obligations of Successful Bidder: The successful Bidder shall send funds to Best Land Auction within five (5) calendar days of notification by the Seller that the successful Bidder’s offer has been accepted (or shorter period if required by the Seller in the Asset listing), including identification of the auction for which funds apply.
(d) Best Land Auction’ Responsibilities
- Best Land Auction will deposit funds received from successful Bidder into an Escrow Account.
- Best Land Auction will release settlement funds to the Seller (less Best Land Auction fees) within three (3) business days following verification of the receipt of funds. In the case of multiple auctions, Best Land Auction may hold settlement funds until all funds are submitted by the Bidders and submit such combined funds to the Seller, together with a detailed accounting of the funds and Assets being settled.
(e) Additional Conditions
- Best Land Auction will define the acceptable form of funding for settlement services and will hold funds for a period enough to verify receipt of funds. Best Land Auction reserves the right to restrict the maximum amount accepted through any payment method. Seller agrees that it bears all risk of credit card chargeback or ACH dispute, which may occur several months following settlement.
- The availability of funds received through an Online Check (ACH) deposit may be delayed until the availability of funds can be confirmed.
- Bidders may be required to pay funding fees, depending on the form of funding selected. Fees for the services provided by Best Land Auction, if any, will be paid first from the funds submitted by the Bidder before Best Land Auction submits funds to the Seller for the transaction price paid by the successful Bidder.
- Best Land Auction is not responsible for payment of any sales, use, personal property or other governmental tax or levy imposed on any Assets purchased or sold using the settlement service or otherwise arising from the transaction.
- All notifications required of the successful Bidder or Seller shall be sent to and from the email addresses the member signed up with Best Land Auction. Notifications and correspondence to Best Land Auction shall be sent to [email protected].
V. Other Provisions
5.1 DISCLAIMER OF WARRANTIES
MEMBERS EXPRESSLY AGREE THAT USE OF THE SITE IS AT A MEMBER’S SOLE RISK. THE SITE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. Best Land Auction EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Best Land Auction MAKES NO WARRANTY THAT THE SERVICES PROVIDED ON THE SITE WILL MEET A MEMBER’S REQUIREMENTS, OR THAT SUCH SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE; NOR DOES Best Land Auction MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SITE OR AS TO THE ACCURACY OR RELIABILITY OF ANY INFORMATION OBTAINED THROUGH THE SITE OR THAT DEFECTS IN ANY SOFTWARE WILL BE CORRECTED. Best Land Auction MAKES NO WARRANTY REGARDING ANY GOODS OR SERVICES PURCHASED OR OBTAINED THROUGH THE SITE OR ANY TRANSACTIONS ENTERED INTO THROUGH THE SITE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY MEMBER FROM Best Land Auction OR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES OR THROUGH THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN.
5.2 LIMITATION OF LIABILITY
IN NO EVENT SHALL Best Land Auction OR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES BE LIABLE TO A MEMBER OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THIS AGREEMENT FOR ANY ACTUAL, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR RELIANCE DAMAGES (OR ANY LOSS OF REVENUE, PROFITS OR DATA), HOWEVER CAUSED, WHETHER FOR BREACH OF CONTRACT, NEGLIGENCE OR UNDER ANY OTHER LEGAL THEORY, WHETHER FORESEEABLE OR NOT AND WHETHER OR NOT A MEMBER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE, AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. BOTH PARTIES AGREE THAT THESE LIMITATIONS OF LIABILITY ARE AGREED ALLOCATIONS OF RISK AND ARE REFLECTED IN THE FEES AGREED UPON BY THE PARTIES. FURTHER, Best Land Auction’ AGGREGATE LIABILITY ARISING WITH RESPECT TO MEMBER’S USE OF THIS SITE SHALL NOT EXCEED THE GREATER OF (A) $100 or (B) THE TOTAL AMOUNTS PAID BY THE MEMBER TO Best Land Auction UNDER ANY AUCTION COMPLETION FEE AGREEMENT IN THE 6 MONTHS PRIOR TO THE ACTION GIVING RISE TO LIABILITY. ADDITIONALLY, BOTH BUYER AND SELLER, RESPECTIVELY AGREE TO INDEMNIFY Best Land Auction AGAINST ANY AND ALL CLAIMS ARISING OUT OF THE LIMITATION OF LIABILITY CONTAINED HEREIN AND DESCRIBED MORE FULLY IN RELEASE AND INDEMNIFICATIONS CONTAINED HEREIN.
5.3 NO RESALE OR COMMERCIAL USE OF THE SERVICES PROVIDED ON THE SITE
Member’s right to use the Site is personal to Member. Member agrees not to resell or make any commercial use of the services provided on the Site, without the express written consent of Best Land Auction. Member acknowledges that content appearing on the Site may be protected by copyrights, trademarks or other proprietary or personal rights and that applicable laws will govern the Member’s use of such content. Member agrees that without the prior written consent of Best Land Auction, Member shall not resell the Site, or the services provided on the Site, or use the Site for the transmission of commercial solicitations (other than an offer by Seller of Assets for sale) or for the receipt of responses to commercial solicitations (other than a Buyer’s interest in purchasing Assets offered for sale through the Site) without the express written consent of Best Land Auction. Member agrees not to, for a commercial purpose, upload, transmit, reproduce, distribute or participate in the transfer or sale, or in any way exploit, any content obtained through the Site. Member agrees not to use the Site for the transmission of (or receipt of responses to) chain letters, lotteries, gambling or pyramid schemes of any kind. Member agrees not to use the Site to disseminate any message in a broad-based mailing without the prior written permission of Best Land Auction. Member agrees not to forge communications or take any other action that would disguise the origin of communications Member transmits through the Site. Member agrees not to permit another person to transmit communications that falsely identifies the Member’s account as the origin of such communication.
5.4 MEMBER CONDUCT
Member is solely responsible for the contents of his/her/its transmissions through the Site. Member’s use of the Site is subject to all applicable local, state, national and international laws and regulations. Member agrees: (1) to comply with US law regarding the transmission of technical data exported from the United States through the Site; (2) not to use the Site for illegal purposes; (3) not to interfere or disrupt networks connected to the Site; (4) to comply with all regulations, policies and procedures of networks connected to the Site; (5) not to post any information which is meant to be deceptive or knowingly inaccurate; and (6) to refrain from infringement on any material posted on the Best Land Auction Site, including information posted by other Members, that is copyrighted, patented, trademarked or similarly protected under proprietary rights or rights of privacy. Member agrees not to transmit through the Site any unlawful, harassing, libelous, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable material of any kind or nature. Member further agrees not to transmit any material that encourages conduct that could constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international law or regulation. Attempts to gain unauthorized access to other computer systems are prohibited. Member further agrees not to use the Site in a manner that violates any Federal, state or local laws or statute, including but not limited to the sale of any regulated substances.
Best Land Auction may terminate any Member’s account immediately, in our sole discretion, if we believe that the Member’s conduct fails to conform to this Section of this Agreement. Without limiting the foregoing, if Member uses, or attempts to use, the services for any purposes other than our intended purposes, including but not limited to tampering, hacking, modifying or otherwise corrupting the security or functionality of the services, Member’s account will be terminated and you may also be subject to civil and criminal liability.
5.5 NOTICES – DEFINITIONS
Sold Notices and other notices given by Best Land Auction shall be valid when sent by e-mail to the e-mail address the member signed up with Best Land Auction. The term “Buyer”, “Bidder”, “Seller”, and “Member” includes corporations, partnerships, persons, agents, representatives and any legal entity entitled to participate in the Site.
5.6 RELEASE AND INDEMNIFICATION
5.7 RESOLUTION OF DISPUTES
(a) Resolution of Disputes Generally. MEMBER ACKNOWLEDGES AND AGREES THAT ANY DISPUTE INVOLVING Best Land Auction SHALL BE RESOLVED SOLELY IN ANY COURT OF COMPETENT JURISDICTION LOCATED IN MONTGOMERY COUNTY, STATE OF NEW JERSEY. MEMBER FURTHER ACKNOWLEDGES AND AGREES THAT THEY SHALL BE RESPONSIBLE FOR ALL COSTS TO ENFORCE THIS AGREEMENT, INCLUDING REASONABLE ATTORNEY’S FEES AND COURT COSTS. MEMBER ADDITIONALLY ACKNOWLEDGES AND AGREES THAT THEY SHALL BE RESPONSIBLE FOR ALL COSTS ASSOCIATED WITH THE COLLECTION OF FEES DUE TO Best Land Auction, INCLUDING BUT NOT LIMITED TO ATTORNEY’S FEES IN THE AMOUNT OF THIRTY THREE PERCENT (33%) OF THE TOTAL AMOUNT DUE, COURT COSTS PLUS AND OTHER FEES.
Should Best Land Auction be notified in writing, or otherwise determine, that a dispute has arisen between a Bidder and Seller, or should Best Land Auction suspect, detect or be notified of potential credit card or other fraud related to the transaction, Best Land Auction is authorized, in its sole and absolute discretion, to hold the funds at issue until notified in writing by all parties that the dispute has been resolved, or until the absence of fraud shall have been confirmed to its satisfaction, or until the dispute is resolved by mutual agreement. Best Land Auction is also authorized, in its sole and absolute discretion, to commence an action to interplead the funds in dispute, either in the state or federal courts in New Jersey, in the jurisdiction of which a Member irrevocably consents, or in a court located where one or more of the parties to the dispute resides. The Member agrees that the decision of the courts in the interpleader action shall be final and binding upon the parties. Member further agrees that Best Land Auction shall be entitled to recover its reasonable costs of bringing the interpleader action, including its reasonable attorneys’ fees, from the disputed funds.
5.8 NO AGENCY
5.9 Best Land Auction, Inc.
5.10 APPLICABLE LAW AND OTHER TERMS