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Article # 20 URL: http://aquabid.com/faq/index.php?a=20 Category: Policies Breach of Sale Policy In an effort to protect registered Buyers and Sellers on AquaBid.com and preserve the business practice standards that we uphold, we have implemented a Breach of Sale Policy. A Breach of Sale is when a Buyer or Seller fails to complete an agreed upon transaction with another Buyer or Seller. Not only does this action break down the trust involved in trading on the AquaBid.com website, but it is also in violation of our User Agreement , where with regard to Buyers it states, "If your bid is accepted by the Seller at the end of an auction (and your bid meets the minimum acceptable bid listed by the Seller), you are obligated to complete the transaction with the Seller, unless the transaction is prohibited by law or by this Agreement." and with regard to Sellers it states, "You ARE obligated to complete the auction transaction when you have accepted a bid price from a Buyer, unless there is an exceptional circumstance...". This policy works along with our Feedback System. Our Feedback System is a system which we developed in order to assist our users on rating the performance of AquaBid.com�s registered Buyers and Sellers. A Buyer or Seller would have the right to post negative feedback regarding any breach of sale on the offender�s rating profile. At AquaBid.com, we want the online, live auction experience to be a pleasant and exciting one. By instituting this policy, we are attempting to avoid abuse or exploitation of the privileges given to Buyers and Sellers as users of our site. Additionally, when a user fails to complete an agreed upon transaction, the other user involved in the transaction has the right to file a complaint against the offender with AquaBid.com. When a complaint has been filed against a user, the following minimum procedures will be implemented: * First Offense: Written warning and thirty (30) day suspension of user privileges. * Second Offense: Written warning and sixty (60) day suspension of user privileges. * Third Offense: Written warning and one hundred twenty (120) day suspension of user privileges. * Fourth Offense: Permanent Bidding or selling privileges revoked. How the Breach of Sale Policy Operates Transaction Follow-up The Buyer is responsible for contacting the Seller once a transaction has ended and an agreed upon price for an item has been reached. This must be completed within seven days from the date and time of the completed auction. The Buyer is notified of this requirement by AquaBid.com when they receive the notification on how to complete the transaction with the Seller. Once the Buyer has contacted the Seller, both will review the agreed upon payment and shipping terms and complete the transaction. If the Seller does not hear from the Buyer within the seven day time period, this is considered a Breach of Sale. Please keep in mind that if you do not hear from a Buyer within the allotted time frame, the Buyer may have already tried to contact you, but was unable to, or there may have been a miscommunication between the two users involved in the transaction. If the Buyer does indeed contact the Seller, and the Seller does not complete the transaction�s shipping and payment processing as agreed upon, this is also considered a Breach of Sale. Buyer Breach of Sale If the accepted Buyer for your transaction has not contacted you within the allowed seven (7) day time frame following the end of your auction, or the Buyer seems like they may not complete the purchase, you have the option to file a Buyer Breach of Sale Complaint with AquaBid.com. We provide you with a Breach of Sale Form. Once you have submitted your complaint to AquaBid.com, we will contact the Buyer for you, requesting that they contact you within 24 hours to complete the transaction. If the transaction is not completed within the 24 hour time frame, you have the option to re-list the item. You will need to contact AquaBid.com if you never received a response from the Buyer, so that their actions may be recorded as an offense and their record marked accordingly. Seller Breach of Sale If you have contacted the Seller for your transaction within the allowed seven (7) day time frame following the end of your auction, and the Seller will not complete payment processing or shipping as agreed upon, or the Seller seems like they may not complete the transaction, you have the option to file a Seller Breach of Sale Complaint with AquaBid.com. We provide you with a Breach of Sale Form. Once you have submitted your complaint to AquaBid.com, we will contact the Seller for you, requesting that they contact you within 24 hours to resolve the issue. If the Seller does not contact you within the 24 hour time frame, you may either decide to not pursue the issue or contact an outside third party to help you arbitrate the matter. At this point, you will need to contact AquaBid.com, so that the Seller�s actions may be recorded as an offense and their record marked accordingly; however, please note that AquaBid.com does not involve itself directly in either disputes or arbitration between users, as stated in the User Agreement. |