ProAuction.net ™ Virtual Storefront Terms & Conditions

NOTICE: Please read this document carefully. All applicants must sign this agreement to be eligible to open a Virtual Storefront.

I understand that auctions of real and personal property have always been an influential part of marketing throughout the world, and recently online auctions and fixed price sales on the Internet have become an advantageous way of driving sales prices higher by enlarging customer bases to a worldwide scale.

I understand that ProAuction LLC (hereinafter "ProAuction") has established a Website specializing in online sales of real and personal property by auction and fixed price sales.

I understand that ProAuction offers reasonably priced advertising on its Website for established businesses, and that advertisers in good standing will be offered the privilege to list items for sale on the ProAuction site by auction and/or fixed price sales.

I understand that ProAuction is owned, managed, and operated by professional auctioneers, and as such, they owe a fiduciary duty to the sellers on their Website and a duty of full disclosure to the buyers visiting the site.

I understand that my continued ability to sell items on ProAuction’s Website is contingent upon accurately representing every item that I list for sale, disclosing any and all known flaws, defects, malfunctions, or other damage so that ProAuction may accurately represent the items to the buyers.

I understand that ProAuction agrees to use its professional skill, knowledge, experience, and marketing to the best advantage of both parties in preparing for and conducting the sale.

I hereby agree to turn over and deliver to any and all winning bidders at the conclusion of each public Internet auction each item I list on the ProAuction Website.

I pledge that no item listed on ProAuction shall be sold or withdrawn from the sale prior to the close of the auction except by mutual agreement between ProAuction and me. If item is sold or withdrawn, auctioneer shall receive full commission on the item.

I understand that I am responsible for setting the opening and closing dates/times of the sale, as allowed by the ProAuction software. In case of postponement due to technical or other difficulties involving the ProAuction Website, said sale will take place on later date agreeable to both parties.

It is mutually agreed that all goods be sold by (a) auction to the highest bidder, with exception of items specified as "reserve items" and the reserve price is not met, or (b) fixed price sale to any buyer meeting the fixed price amount.

I hereby covenant and agree that I have good title to and the right to sell all items I list on the ProAuction Website, and said goods are free from all encumbrances. I agree to provide merchantable title to all items sold and deliver title to purchasers.

I agree to hold harmless ProAuction, its subsidiaries, owners, employees, and sales representatives against any claims of the nature referred to in this contract.

I agree that ProAuction will hold payment from buyer once funds have been secured in a trust account until buyer receives item and is satisfied and releases the payment to me, or five (5) business days pass.

I understand that ProAuction will deduct a commission at ProAuction’s established rate from the gross sales price of every item sold through ProAuction’s Website. I agree that the commission rate(s) may be adjusted from time to time, and my continued participation in online sales through ProAuction constitutes my acceptance of any or all such adjustments.

I agree that I am responsible for the real and actual cost of all credit card and electronic check fees and discount rates charged to ProAuction to complete the sales of my buyers using credit cards or electronic checks. Such costs will be deducted from my net income as they are received by ProAuction.

I understand that some "premium" services and features may be available to me for an additional fee through ProAuction that are not included in my monthly advertising fees, and I agree to pay for any such service I subscribe to or contract for. Nonpayment of recurring fees for said service will prevent me from receiving the service until I resume payment, but will not affect my advertising or sales status.

I agree that any unresolvable disputes will be settled by the American Arbitration Association under the rules and laws of the State of California.

THESE TERMS AND AGREEMENTS ARE A KEY PART OF THE VIRTUAL STOREFRONT AGREEMENT AND ARE INCLUDED THEREIN BY REFERENCE.

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