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DOMAIN NAME MARKETPLACE AGREEMENT
These terms and conditions apply if you purchase domain name auction services from Sav, LLC (“Sav”). This Domain Name Marketplace Agreement ("Agreement") sets forth the terms and conditions for the use of this website (the “Site”) and of your domain name auction, fixed price sale, and related services (individually and collectively, the “Services”).
"You", "your", and “user” any individual or entity who accepts this Agreement, has access to your account or uses the Services. "We", "us" and "our" refer collectively to Sav.
YOUR AGREEMENT
By using the Site and Services, you agree to all terms and conditions of this Agreement, which incorporates by reference Sav’s Universal Terms of Service Agreement ("UTOS").
CHANGES TO THIS AGREEMENT
We reserve the right, upon notice to you, to modify any provisions of this Agreement at any time at our discretion and without liability to you. Modifications by us are effective thirty (30) days after notifying you via email to the address you have supplied us, or immediately via notice and acceptance through our Site. After such changes or modifications have been made, your continued use of the Site or Services constitutes your agreement to be bound by this Agreement as last revised. If you do not agree to the modifications or to any applicable policies or guidelines on the Services, then you must stop using the Site or Services. If you have purchased Services from us, the terms and conditions of this Agreement shall continue in full force and effect, including any changes made to this Agreement, as long as you take advantage of and use the Services.
If you do not agree to the modifications, you may terminate this Agreement at any time by providing us with notice by email. Notice of your termination will be effective on receipt and processing by us, but is subject to your having paid in full any and all fees or other expenses due and payable by you to us. Any fees paid by you if you terminate the Agreement are nonrefundable, but you will not incur any additional fees unless they are owed to us for any services you ordered that are in unpaid status.
DESCRIPTION OF THE SERVICES
The Sav domain name marketplace service includes the buying and selling of registered domain names via auction or fixed price transactions. This service does not include the buying and selling of any website content. Sav is not an auctioneer or an escrow agent, nor is Sav the owner of the domain names listed on the website. Sav acts here neither as a buyer nor seller, neither as a lessee nor lessor, nor as the representative of any party, and assumes no responsibility for the contents of a seller’s domain listing or a buyer’s offer for a domain. Sav has no control over the quality, safety or legality of the domain names listed, nor the accuracy of any statements made by any buyer or seller.
Our auction rules are subject to change from time to time, and are incorporated herein by reference. Domain names listed for a fixed price may be withdrawn at any time by Seller or by Sav. Domain names listed for auction may be withdrawn at any time by Sav; the Seller may withdraw the domain name only before a Buyer purchases the domain via the “buy now” option, or a bid is placed that meets or exceeds the minimum bid or reserve price.
General. You authorize Sav to perform tasks on your behalf in order to complete the transaction. Sav is not a bank, and any transactions constitute a payment processing service rather than a banking service. You further acknowledge and agree that Sav is not acting as a trustee, fiduciary, or escrow agent with respect to your funds.
Sav is not responsible and disclaims all liability in the event that the domain name transaction fails to complete due to breach by the Buyer or Seller or failure of the Buyer or Seller to complete the transaction. Buyer does not obtain any rights in the registration of a domain name until completion of the transaction.
Sav may screen domain names prior to listing and may exclude, in our sole discretion, any domain name for any reason, including, but not limited to: a) violation of this Agreement or the UTOS b) violation of any of Sav’s other policies and/or agreements; or c) infringement, or potential infringement, of any third party right, law or regulation.
Designated Agent. . FOR THE PURPOSE OF FACILITATING THE CHANGE OF REGISTRANT INFORMATION DURING AND AFTER THE SALE OF ANY DOMAIN NAME, WHETHER AS BUYER OR SELLER, AND IN ACCORDANCE WITH ICANN'S CHANGE OF REGISTRANT POLICY. YOU EXPLICITLY AGREE TO APPOINT SAV AS YOUR DESIGNATED AGENT FOR THE SOLE PURPOSE OF EXPLICITLY CONSENTING TO MATERIAL CHANGES OF REGISTRATION CONTACT INFORMATION ON YOUR BEHALF. “DESIGNATED AGENT” MEANS AN INDIVIDUAL OR ENTITY THAT THE PRIOR REGISTRANT AND/OR NEW REGISTRANT EXPLICITLY AUTHORIZES TO APPROVE A CHANGE OF REGISTRANT REQUEST ON ITS BEHALF.
Auction Run Times. You understand and agree that if a bid is placed within five (5) minutes of the auction closing, then the time on the auction will automatically be increased by five minutes from the time of the bid. Accordingly, an auction will not close until the last five (5) minutes of an auction run without any bids being placed.
Payment Methods. Sav reserves the right to require any payment method for any transaction, in its sole discretion. Transactions with a selling price exceeding one thousand dollars ($1,000.00) may require, at Sav’s option, immediate and irreversible method of payment such as by wire.
Escrow. At Sav’s option, your transaction may be handled by a third-party escrow service of Sav’s designation. Accordingly, in order to complete the transaction you will be required to read, understand, acknowledge and agree to the terms of service of that escrow service, which are incorporated herein by reference. Sav may disclose personally identifiable information to said third party escrow service to facilitate the transaction. Sav will remit payment of the purchase price, less the applicable commission and fees, to the Seller no sooner than 10 days, and no later than 14 days, after receiving funds from the Buyer, except in the event of a dispute or where the payment is suspected to be fraudulent.
OBLIGATIONS OF BUYER AND SELLER
You agree to provide accurate, current, and complete information on any and all forms and requests for information provided by Sav as part of this Service. Sav will not be responsible for any false or misleading information provided to it, whether intentionally or unintentionally.
You agree to notify Sav within two (2) business days if any of the information you provided as part of this Service changes. It is your responsibility to keep this information current, accurate, and complete. Your failure to provide Sav with current, accurate, and complete information , shall be considered a material breach of this Agreement. Your failure to respond within five (5) business days to any inquiries made by Sav to determine the validity of information provided by you, shall also be considered a material breach of this Agreement.
SELLING AND LISTING DOMAIN NAMES
By using the Services to list domains in our marketplace, you represent and warrant that:
You have all rights, title and interests in the domain name necessary to complete the transaction;
You have the ability to transfer the domain name free and clear of any obligations, liabilities, liens or encumbrances;
The domain name does not infringe on any rights of anyone else;
The domain name is not currently and will not in the foreseeable future be involved in a Uniform Dispute Resolution Policy dispute, litigation or other legal proceeding; and,
You have the full and unfettered right to transfer the domain name in accordance with your obligations under this Agreement.
If you find a Buyer by using the Services, then the transaction must be completed within the Services. For each transaction completed within the Services, you agree to pay Sav a transaction fee according to our published fee schedule. Such transaction fee will be payable directly to Sav unless the transaction is processed using a third-party escrow service, in which case all fees will be paid to such third-party escrow service. In addition to any transaction fees, you agree to pay Sav or the third-party escrow service, as the case may be, any intermediary or other banking fees charged by Buyer’s banking institution in connection with the transaction.
You are prohibited from selling any domain name to any Buyer found through the Services, without using the Services to complete the transaction. In such event, Sav reserves the right to terminate your marketplace account, cancel all of your listings, and pursue any other remedies against you at law or in equity.
Sellers are prohibited from placing a bid on or buying any domain names they have listed. Additionally, bidding by individuals who have knowledge of or access to Seller’s item information, in order to raise the price at which your item will eventually sell, is also prohibited. If you bid or have someone else bid on a domain name that you have listed, then all of your listings will be removed from the site, and administration fees will be assessed per listing. Your User Account will be locked while we investigate your actions. Sav, in its sole discretion, will take all actions it deems appropriate to redress such conduct.
Sellers are obligated to complete the transaction if Buyer commits to purchase the domain name through a fixed price, “buy now” option, or if Buyer meets or exceeds the minimum bid or reserve price. If the domain name is not registered with Sav, then Seller has five calendar days to provide a transfer authorization code from its registrar. In instances where the Seller is not the registrant, and the domain name is not registered with Sav, Sav reserves the right in its sole discretion to verify the ownership via the use of verified nameservers, a meta tag and/or a DNS TXT entry.
Should you fail to complete the transaction for any reason, Sav reserves the right to (i) charge you a fee, (ii) terminate your User Account with Sav (as determined by Sav in our sole and absolute discretion), and/or (iii) pursue any other available remedies against you..
By receiving payments through the Services, you appoint Sav as your agent to receive and deposit funds on your behalf. The amount initiated and posted to the deposit account(s) will represent payment for domain names sold using the Services, less any applicable fees and/or chargebacks. Payments can be cancelled or suspended at any time due to chargebacks or suspicion of fraud. In order to receive payments, you will need to set up a payee and assign it to your Sav User Account. You may be required to provide personal information, including without limitation that which relates to tax or confirms your identity, in order to comply with all applicable laws.
You hereby authorize Sav to initiate and post entries to the deposit account(s) that you designate, both (i) credit entries for payments and (ii) debit entries to reverse erroneous payments and/or make adjustments to incorrect payments. The authority granted to us by you or the deposit account owner(s) will remain in full force and effect until we have received written notification from you or the deposit account owner(s) that such authority has been revoked, or until the termination of your Sav User Account.
Payments may take 1-5 business days to be posted to the deposit account once they are initiated, depending on the payment method and currency selected. The issuer of your payment method or an intermediary may charge you additional fees to receive funds.
If the domain name sold is registered with Sav, then Sav will initiate payment of proceeds into Seller’s deposit account five business days after receipt by Sav of verified funds from Buyer. If the domain name sold is not registered with Sav, then Sav will initiate payment of proceeds into Seller’s deposit account five business days after transfer of the domain name to Buyer’s account at Sav is complete. In either event, you acknowledge and agree that there may be a delay of several days or longer between the time that Sav initiates the payment of proceeds and the time that the proceeds are actually posted to your deposit account.
The authority granted to Sav by the deposit account owner herein will remain in full force and effect until Sav has received written notification from the deposit account owner that such authority has been revoked, but in any event, such writing shall be provided in such a manner as to afford Sav a reasonable opportunity to act on such revocation, or until Sav has sent notice to terminate this Agreement.
In the event of a payment chargeback, Sav will deduct the amount of the Payment from Seller’s Payment Method on file. In the event that chargeback frequency is high, as determined by Sav, Sav reserves the right to hold back twenty percent (20%) of all Seller’s Payments for one hundred and twenty (120) days from the date the Payment was to be paid.
Sav will not release the domain name to Buyer until receipt of confirmation that the funds have been verified.
ccTLDs. You acknowledge and agree that country code top level domain names (“ccTLDs”) may have unique eligibility requirements. It is your responsibility to review the applicable registry rules, policies, and agreements for the ccTLD in question to ensure that you are in compliance with all eligibility requirements.
PURCHASING AND BIDDING ON DOMAIN NAMES
Buyers are obligated to complete the transaction if you purchase the domain name through a fixed price, “buy now”, or if you are the highest bidder at the end of an auction and your bid meets or exceeds the minimum bid or reserve price. If the purchased domain name is not registered with Sav, then Sav will initiate transfer into Buyer’s account, which may take up to fifteen (15) days, or may fail. In the event you fail to complete the transaction for any reason, Sav reserves the right to (i) charge you a fee and/or (ii) terminate your membership with Sav (as determined by Sav in its sole and absolute discretion).
Some listed domain names may be subject to an additional renewal fee. In the case of fixed price purchases, the renewal fee will be added at the time of checkout. You agree by completing the transaction, you are responsible for payment of the renewal fee. Once you send payment, Sav will hold those funds for a prescribed period of time based on the type of transaction, at which time Sav will remit the payment to Seller. You will not be able to withdraw those funds or send the funds to another recipient unless the initial transaction is cancelled. Should Seller refuse payment, the funds, minus the administration fee as outlined in the pricing structure, will be returned to you. Sav is not responsible for payments refused by Seller.
Sav will obtain the funds first by the Payment Method you have designated. If there are insufficient funds or invalid credit card information, Sav may obtain the remaining funds by charging any Payment Method you have on file. In the event of a charge reversal or chargeback by a credit card company or other payment provider, or if we determine in our sole discretion that we are unable or unlikely to collect payment, any associated domain registration will immediately terminate and/or the domain name registration will be transferred to Sav as the paying entity for the registration. In the case of domains purchased via auction (i.e. “buy it now” or via bid) Sav may, in our sole discretion, offer the reclaimed domain name to the next highest bidder in the relevant auction and charge such bidder their highest bid amount, or make the domain name subject to a new auction among bidders determined by Sav, or otherwise dispose of the name.
Sav reserves the right to publish your unique username once an auction in which you have participated has been closed or ended. As a Buyer, you are responsible for ensuring that your use of the domain name does not infringe on third-party rights or any relevant laws or regulations.
You agree not to purchase any domain name found through the Services without using the Services to complete the transaction. Should Sav determine (which determination shall be made by Sav in its sole and absolute discretion) that you are circumventing the Services, Sav reserves the right to terminate your account and cancel all of your User Account.
You understand and agree that for every bid you place, your Payment Method may be preauthorized for the bid amount you designate.
Proxy Bidding. You understand and agree that Sav will automatically proxy bid on your behalf when a bid more than the minimum required bid is submitted.
ccTLDs. You acknowledge and agree that country code top level domain names (“ccTLDs”) may have unique eligibility requirements. It is your responsibility to review the applicable registry rules, policies, and agreements for the ccTLD in question to ensure that you are in compliance with all eligibility requirements.
SAV EXPIRED DOMAIN NAMES
Sav may list domain names which have entered into an expiration period for their original registration (“Expired Domain Names”). These Expired Domain Names may be listed on the Site on the date of their expiration, however, no sale will be final until thirty (30) days after the date of expiration. As described in the Domain Name Registration Agreement, , the original registrant has the right to reclaim the Expired Domain Name for the duration of the redemption period. By bidding on the Expired Domain Name, Buyer acknowledges and agrees that if Buyer has the winning bid, the transfer of the Expired Domain Name will not be completed until after the redemption period is complete. Sav shall not be obligated to offer a third-party escrow service to facilitate transactions involving Expired Domain Names. If the Expired Domain Name is reclaimed by the original registrant, Sav will refund the full purchase price.
Expired Domain Name prices include a one (1) year renewal fee, and payment is due immediately upon auction close. The domain name will be renewed from the original date of expiration, not the date of purchase. Your payment method stored in your User Account will be charged prior to the second day following the auction close, and may be charged immediately upon close of the auction. If the winning bidder does not complete their purchase, then Sav may offer the Expired Domain Name to others for purchase.
CHANGE OF OWNERSHIP
Sav is not the owner of the domain names listed on the Site and, accordingly, cannot guarantee immediate change of ownership upon completion of a transaction. If the domain name sold is registered with Sav, then change of ownership will begin upon completion of the check-out process and receipt of buyer’s funds. For domain names that are registered with Sav but designated as Expired Domain Names and listed using the Auction format, change of ownership will not be completed until thirty (30) days after the original date of expiration.
Designated Agent. To facilitate the change of registrant information associated with the listed domain names, and in accordance with ICANN’s Transfer Policy, seller, at the time of listing the domain names, explicitly agrees and directs Sav to act as its Designated Agent. As Designated Agent, Sav will facilitate the transfer and change of domain name contact information for the sold domain names. As such, Seller grants Sav the power to explicitly consent to the material change of registrant contact information to facilitate transfer of the sold domain names. Additionally, Buyer specifically authorizes and directs Sav to act as its Designated Agent. As Designated Agent, Sav will facilitate the transfer and change of domain name contact information for purchased domain names. As such, Buyer explicitly grants Sav the power to consent to the material change of registrant contact information, so as to facilitate transfer of the purchased domain name(s).
While Seller may use the Services to facilitate the selling of domain names that are not registered with Sav, Sav requires the Seller to transfer any domain names that are not registered with Sav to Sav upon receipt of a final/successful bid, so the registrar of record for the domain name in question will be Sav.
If, for any reason, the change of ownership from Seller to Buyer is not able to be completed, then Buyer and Seller acknowledge and agree that Sav shall have no liability or responsibility regarding the same. In all cases, whether the domain name in question is registered with Sav or with another registrar, the change of ownership from seller to Sav is done without representation or warranty of any kind (including, but not limited to, any representation or warranty that a domain name does not infringe upon the intellectual property or other rights of a third party), and Sav expressly disclaims any liability or responsibility regarding the same.
Please note that any domain name registered through the Sav marketplace may not be transferred away from Sav to another registrar for a period of sixty (60) days following the change of ownership date.
TRANSFERS
All domain name transfers shall be governed by ICANN's transfer policy, which is incorporated herein by reference and which may be modified from time to time. All domain names transferred to Sav will be locked against transfer out, for a period of one hundred and twenty (120) days.
SAV’S RIGHT TO MONITOR
Sav may, but is under no obligation to, monitor the Services. Sav reserves the right to edit the descriptions and comments on listings. Sav reserves the right to make public and share with third parties certain information in connection with the sale or purchase of domain names on the website, including but not limited to (a) the name of the domain name sold or purchased, (b) the sale or purchase price of the domain name sold or purchased, and (c) information relating to the timing of the sale or purchase.
DISPUTES
In the event you are involved with a dispute, you release Sav, its affiliates, officers, directors, agents, subsidiaries, joint ventures and employees from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such dispute.
Sav reserves the right to charge an administration fee to cover the costs associated with investigation of a dispute as described in the UTOS. Should Sav receive multiple complaints regarding transactions in which you are involved, Sav, in its sole discretion, may cancel your account, terminate all listings you have, and pursue any other available remedies against you..
REMEDIES AND RIGHT TO CANCEL
In the event you breach this Agreement or any document incorporated by reference, or Sav determines that your actions may pose a risk to Sav or its members, or that your use of the Services infringes on the intellectual property or other legal rights of any third party, Sav may immediately:
Warn its members of your actions;
Place a hold on any pending transactions associated with your account(s);
Limit funding sources and payments;
Limit your access to your account(s) or to any functionality of your account(s);
Indefinitely suspend or close your account(s) and refuse to provide our Services to you; and/or,
Pursue any other available remedies against you.
Sav also reserves the right to place on hold any funds for transactions it deems suspicious, or account(s) conducting high transaction volumes, in order to ensure integrity of the funds. If Sav closes your account(s), then Sav will provide notice and pay you any available funds in your account(s) due to you, less any amounts owed to us.
If Sav determines that you owe it money for any reason, then Sav reserves the right to offset any payments into your Account until Sav is made whole.
TITLES AND HEADINGS; INDEPENDENT COVENANTS; SEVERABILITY
The titles and headings of this Agreement are for convenience and ease of reference only and shall not be utilized in any way to construe or interpret the agreement of the parties as otherwise set forth herein. Each covenant and agreement in this Agreement shall be construed for all purposes to be a separate and independent covenant or agreement. If a court of competent jurisdiction holds any provision (or portion of a provision) of this Agreement to be illegal, invalid, or otherwise unenforceable, then the remaining provisions (or portions of provisions) of this Agreement shall not be affected thereby and shall be found to be valid and enforceable to the fullest extent permitted by law.
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