TERMS & CONDITIONS FOR THE USE OF EQUIBID FOR AUCTION SALES & PURCHASES
Welcome
Please read these Terms and Conditions carefully, as they will govern your use of the Equibid website for the purpose of auction sales. Those who consign and bid are bound by these Terms and Conditions, as amended by any posted notices, which together form the contract of sale between the successful bidder (“Buyer”), and the consignor (“Seller”). When consigning or bidding on any horse/goods offered by the Equibid website, the Buyer and Seller indicate acceptance of the following Terms and Conditions. Any participation in the auction binds you to agreement of these Terms and Conditions, whether or not you read or understand said Terms and Conditions. If you do not wish to be bound by these Terms and Conditions, you may
not want to use the Equibid website auction services. All horses/goods sold are subject to the following Terms and Conditions.
For Buyers
GENERAL TERMS & CONDITIONS
Equibid
1. PURPOSE. The purpose of these Terms and Conditions is to: a) establish sale procedures; b) facilitate informed bidding; c) provide for orderly settlement of finances in completion of purchases; d) allocate rights, responsibilities, and risks; and e) provide for orderly dispute resolution.
2. AUCTION SITE USER AGREEMENT: Buyer and Seller agree to these Terms and Conditions and affirm under penalties of perjury that all information furnished is true and correct. Buyer and Seller represent and agree that he/she is of legal age and is competent to form a binding contract.
3. RESERVE AUCTION: This is a Reserve Auction. The right of the Seller to bid on his/her own auction is expressly reserved.
4. REFUSAL OF SERVICE: Equibid reserve the right to reject or refuse any bid to anyone for any reason.
Transaction Fee to Equibid is the amount of 8% of the total price of any auction completed.The Transaction Fee is deducted from the winning, final bid. This fee covers costs for electronic financial transactions and providing services for Seller accounts.
6. BUYER’S UNDERSTANDING: By placing a bid in this auction, Buyer agrees: a) to be responsible for any purchase made or actions taken by an Agent authorized by Buyer to act on Buyer’s behalf; b) that registration to bid is not assignable without the express written approval of Equibid c) to make any sale transaction for this entry through Equibid d) that if he/she has the winning, final bid, or accepted bid in auction subject to Seller Confirmation, Buyer has entered into a binding contract to purchase the horse/goods
7. BUYER’S RESPONSIBILITY: HORSES/ GOODS By placing a bid in this auction, Buyer is indicating he/she has examined or researched a horse/goods to their satisfaction. Prior to Bidding, Buyer may: a) ask Seller for additional information; b) make an appointment with Seller to examine the horse/goods at Seller’s facility; c) in the case of a horse arrange with Seller to have a licensed veterinarian perform a pre-purchase examination; or d) hire an agent or equine professional to inspect and evaluate the horse.
8. SELLER’S REPRESENTATION OF HORSE/GOODS : Seller is solely responsible for the correct, accurate and honest representation of the horse/goods in the entry form, including the description, condition disclosure form.
In the case of a horses information, riding and training sections of this submission, as well as in communication with potential or eventual buyers. Some representations on disposition and handling are the opinion of the Seller and given only as an indication of the horse’s capability.
Buyer should inspect, examine and research horse/goods to their satisfaction. Seller is solely responsible for the accuracy of all information that appears in the online sale catalog and previews. Seller and Buyer agree to hold Equibid harmless from any claims arising out of any such inaccuracies or omissions.
In the case of horses the Seller is responsible for disclosing the following conditions, which must be stated in the online sale catalog: If the entry is a cribber, weaver, windsucker,box walker is unsound of eyes or wind, has a parrot mouth, is a cryptorchid or ridgling, has had major surgery or a serious illness, has been denerved or has a lameness due to navicular disorder, ringbone, osteoarthritis, founder prior to the sale, bone abnormality prior to sale, or neurological disorder prior to the sale. Seller is solely responsible for the accuracy of all information that appears in the online sale catalog and previews. Buyer agrees to hold Equibid harmless from any claims arising out of any such inaccuracies or omissions.
In the event that a horse/goods is rejected due to Seller’s failure to disclose conditions as required by Paragraph 8, Seller shall be responsible for arranging and paying for return transportation of the horse/goods. Additionally, Seller shall be responsible for paying Equibid the commission on the sale of the horse/goods
Buyer agrees to hold Equibid harmless from any claims arising out of any such inaccuracies or omissions.
9.NO IMPLIED WARRANTIES/ HORSES : There is no warranty expressed or implied by Equibid or Seller, as to the performing soundness, merchantability or fitness for any particular purpose of any horse offered in this sale, other than those made specifically by Seller. ALL HORSES ARE SOLD “AS IS” WITH ALL EXISTING CONDITIONS AND DEFECTS. ALL RESPONSIBILITY FOR REPRESENTATIONS LIES BETWEEN THE SELLER AND THE BUYER. A PRE PURCHASE VETERINARY INSPECTION IS RECOMMENDED THIS CAN BE CARRIED OUT BY SELLERS CHOICE OF VETS BUT MUST HAVE BEEN COMPLETED NO MORE THAN 5 DAYS PRIOR TO THE END OF THE AUCTION
10 .TRANSPORTATION FROM SELLER TO BUYER/HORSES :Buyer is responsible for the cost and arrangements for transportation of the horse from Seller to Buyer. Immediately after the end of the auction, Buyer shall contact Seller to schedule transportation for the horse.
11.RELEASE OF HORSE/GOODS TO BUYER: Seller shall not release horse/goods to a Buyer until Buyer has made full payment for the horse/goods and funds have been verified. Once bidding concludes, and Equibid has collected payment from the Buyer, Equibid will send confirmation to the Seller.
12.RISK AND RESPONSIBILITY FOR HORSE: Buyer assumes all risk, responsibility and expense for the horse at the end of bidding or, if sold pending confirmation by Seller, upon confirmation of selling price by Seller. Seller agrees to provide basic board and care for up to 5 days at no additional charge. Beyond 5 days, Buyer will be responsible to pay for board, at a cost determined by Seller, plus any other expenses that may be required to maintain the horse until Buyer takes possession or has the horse picked up from Seller. Equibid recommends Buyer obtain Full Mortality Insurance on horses immediately after purchase, however, this decision and risk rest solely with Buyer.
13.BIDDING ERRORS: Buyer should make sure to review all bids before and after submitting. If Buyer mistakenly increases his/her own bid, or makes a gross error, Buyer must immediately contact the Equibid office by email with a written request to reverse the bid and the reasons for the request. Please be advised that Equibid may not be able to reverse a Buyer’s bid in which case Buyer will remain the high bidder. Be aware of increasing your own bids…. some bidders increase their own bid to price a horse/goods out of reach of other bidders. Equibid will not reverse bids that have caused another bidder to be outbid. If Buyer bids on the wrong horse/goods, Equibid will not reverse that bid. Please make sure to immediately review all bids. Equibid will not reverse bids after the auction has begun to close. There will be NO exceptions.
14.PAYMENT BY BUYER: Once bidding is closed, an invoice will be emailed to Buyer. Payment in full must be made within three (3) business days after the sale is closed. Payment must be made to Equibid for all sales. ALL SALES ARE FINAL. Payment may be made in the form of MasterCard, Visa, debit or credit cards, PayPal , or bank transfer.
In no case may any part of the purchase price be paid directly to the Seller by the Buyer, as such payment shall not be valid or entitle the buyer to obtain the horse/goods .
15.DEFAULT ON PURCHASE: If Buyer fails to pay for the horse /goods in accordance with the terms of Paragraph 17 above, Equibid or Seller shall have the right to re-sell the horse/goods or bring legal action, in which event Buyer agrees to pay all cost of such suit together with reasonable fees as awarded by the court. N
16.PROHIBITED CONDUCT: Equibid at its sole discretion, may ban from further use, any Buyer or Seller who Equibid believes to have in any way misrepresented itself or any horse/goods , failed to abide by the Terms and Conditions, or engaged in any improper auction conduct as determined solely by Equibid . Any Seller who misrepresents their horse/goods and any Buyer who improperly fails to carry through with a purchase will be banned from any further use and may be subject to additional legal actions.
17. WITHHOLDING FUNDS: Buyer agrees that Equibid shall not be required to remit to Seller or Buyer, the net proceeds of the sale of any entry which is the subject of a dispute or claim by the Buyer, for misrepresentation, fraud, or breach of warranty, until such dispute or claim is resolved and the proceeds of the sale have been received by Equibid The responsibility to resolve such a dispute or claim lies between the Seller and the Buyer. Notwithstanding any other provision hereof, should a dispute arise between the Seller and the Buyer, Equibid may retain its fees and costs and may hold in escrow the balance of any proceeds of sale in its possession, pending a resolution of the dispute. Any and all legal fees and costs incurred by Equibid may be deducted by Equibid from the net proceeds of sale still in their possession. Otherwise, the Seller and Buyer shall be jointly and severally liable for the same upon demand.
18. REFUNDS: In the event that a refund or partial refund is made to Buyer for the purchase price of an entry, the refund shall be made in the same manner that payment was made.
19. INDEMNITY: In the event Seller misrepresents or fails to disclose any fault, defect or condition of a horse/goods sold or offered for sale, or in the event any of Seller’s representations or warranties are incomplete or inaccurate in any way, Seller shall INDEMNIFY AND HOLD HARMLESS Equibid from any and all liability, debt, claims, suits, losses, damages, causes of action, judgments, costs and expenses, including court fees, incurred by Equibid as a result of Seller’s misrepresentation(s) and/or failure(s) to disclose.
20. LIMITS OF LIABILITY: Equibid shall not be liable for lost profits or any incidental, special or consequential damages whatsoever arising out of or in connection with any sale or transaction. The total liability of Equibid for all claims, damages, or losses resulting from Buyer’s or Seller’s use of the Equibid website or auction services, shall not exceed the amount of funds held by Equibid for the sale of a horse. Equibid reserves the right to reject or void bids, whether winning or not, that Equibid deems not to have been made in good faith, or that are restricted, prohibited. Equibid is the one and only judge regarding the determination of winning bidders, is the single deciding authority if a dispute should arise, and accepts no liability for any errors or omissions. Equibid reserves the right to reopen bidding on any disputed bids or ties. Equibid reserves the right to postpone or cancel a sale without notice, if determined in our discretion that such action is appropriate. Equibid will neither have the liability nor obligation to the intended bidders as a result of any withdrawal, cancellation, or postponement of sale.
21. PUBLICATION OF SALE RESULTS: Buyer and Seller agree that Equibid may publish sale results.
22. ADDITIONAL TERMS AND CONDITIONS: The Terms and Conditions for the use of Equibid Conditions of Sale for Buyers and Sellers as stated on the auction website, are hereby incorporated by reference and made part hereof as though fully set forth herein.
23. INTERFERENCE: Buyer and Seller agree not to use any device, software or routine to interfere with or attempt to interfere with the functioning of or any transaction being conducted on and during the online auction sale. Buyer and Seller acknowledge that this auction is conducted electronically and Equibid Seller and Buyer rely on hardware and software that may malfunction without warning.
24. NO AGENCY: Buyer, Seller and Equibid are all independent contractors, and no agency, partnership, joint venture, employee-employer, or franchiser-franchisee relationship is intended or created by these Terms and Conditions.
25. PRIVACY POLICY: By registering as a bidder or a seller for this auction, Buyer and Seller agree to the use of Buyer’s and Seller’s information by Equibid Buyer’s and Seller’s information will be used by Equibid to contact Buyer and Seller and for record keeping. Equibid will not sell or give Buyer’s or Seller’s information to any entity, except for a sponsor or company that provides special services to Buyer or Seller. Buyer and Seller grant permission for Equibid to share contact information with it’s sponsors. In the future, Equibid may use email lists to contact Buyers and Sellers. Equibid may do custom email promotions for customers, advertisers or organizations. If Buyer or Seller wishes to discontinue receiving these emails, please contact our office.
26. SEVERABILITY: If any provision or portion of a provision of this agreement is held to be invalid or unenforceable for any reason, such provision or portion of a provision shall be struck and the remaining provisions shall be enforced.