Global Resale Liquidation Auctions TERMS OF PURCHASE
Terms and Conditions:
This Agreement contains the terms and conditions regarding the purchase of products, goods, merchandise, or services by customer from Global Resale. Customer agrees to be bound by the terms and conditions set forth below.
Governing Law. This agreement, as well as the parties’ rights and obligations hereunder, shall be in all respects interpreted, enforced and governed by and under the laws of the State of Texas without regard to Conflict of Laws Rules. Any arbitration that may occur as a result of any controversy or claim shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq. and the Texas Arbitration Act, Chapter 171, Texas Practice and Remedies Code, as applicable. The parties further agree that this agreement shall not be denied validity on the ground that it is electronic and shall be deemed admissible as evidence by the parties in any proceeding.
Mediation/Binding Arbitration. Any dispute, cause, or claim of any nature, including but not limited to contract, tort, common law, or equity brought against Global Resale, its agents, employees, successors, assigns or affiliates which cannot be settled through direct negotiations, shall be submitted by the parties to mediation administered by the American Arbitration Association under its Commercial Mediation Rules before resorting to arbitration. Any unresolved controversy or claim arising from or relating to this contract or breach thereof shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and a judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. If the parties agree, a mediator involved in the parties’ mediation may be asked to serve as the arbitrator. The arbitrator shall have no authority to award punitive or other damages not measured by the prevailing party’s actual damages, except as may be required by statute. Except as may be required by law, neither party nor mediator and/or arbitrator shall disclose the existence, content, or results of any mediation and/or arbitration without the prior consent of both parties. The location of the mediation and/or arbitration shall take place in Austin, Texas, U.S.A. Each party shall bear its own cost and expenses and an equal share of the mediator’s and/or arbitrator’s fees and costs of administration.
Attorneys Fees. In any judicial determination in which a favorable ruling is obtained by Global Resale, Global Resale shall be entitled to the reimbursement of attorney's fees and costs incurred.
Limitation of Liability. Global Resale shall not be responsible or liable for any amount of damages above the purchase price paid by the customer under this agreement including but not limited to lost data or software, lost profits, consequential, or punitive damages.
Governing Law Regarding International Agreements. Any arbitration that may occur as a result of any controversy or claim shall be governed by Chapter 2 of the Federal Arbitration Act, which comprises the Convention on the Recognition and Enforcement of Foreign Arbitral Awards; 9 U.S.C. § 201 et seq. The parties hereby opt out of the Convention on Contracts for the International Sale of Goods and agree that this agreement, as well as the parties’ rights and obligations hereunder, shall be in all respects interpreted, enforced and governed by and under the laws of the State of Texas.
Binding Arbitration. Any controversy or claim arising out of or relating to this contract shall be determined by arbitration administered by the American Arbitration Association under its International Arbitration Rules. The location of the mediation and/or arbitration shall take place in Austin, Texas, U.S.A. The language of the arbitration shall be English. Except as may be required by law, neither party nor arbitrator shall disclose the existence, content, or results of any arbitration without the prior consent of both parties.
If your bid is deemed the winning bid at the end of an Auction for Inventory Products, you agree to promptly purchase such Inventory Products pursuant to the terms and instructions set forth in the Terms of Purchase and Email Notification. If you fail to register a Completed Purchase within two (2) business days of when the Email Notification is sent by Global Resale, you forfeit any right to purchase such Inventory Products and Global Resale may deactivate your account and password so you can no longer access the Site and, Global Resale, at its sole discretion, may choose to (i) contact the next highest bidder in the Auction for such Inventory Products and offer to sell such Inventory Products to such bidder at such bidder's bid price or (ii) post such Inventory Products on the Site for sale in a new Auction. In addition, Global Resale may restrict you from bidding in any further auctions at the Site. Penalties for your failure to complete the purchase of Products that are the subject of your winning bid are as set forth below.
In the event that you do not pay for any given winning bid, you may be given the chance to pay a reinstatement fee, in order to prevent the deactivation of your account. The fee amounts are as follows, within any 12-month period:
1st Offense: $0-$10,000 Purchase Price: $100 Fee
1st Offense: $10,000+ Purchase Price: $500 Fee
2nd Offense: $0-$10,000 Purchase Price: $500 Fee
2nd Offense: $10,000+ Purchase Price: $1,000 Fee
3rd Offense: $1,000 Fee
Global Resale reserves the right, in its sole discretion at any time and for any reason, to deactivate your Site account, reject any offer to purchase Products or suspend or cancel any auction or purchase of Products, including fulfillment of a purchase after completion of an auction and payment for the Products. If Global Resale cancels any purchase of Products after you have submitted payment for such Products, Global Resale will direct B-Stock to issue a refund to the designated payment method that you used to make such payment or other method selected by Global Resale or B-Stock.
These Terms of Purchase were last updated on 3/31/2017. Please check our Terms of Purchase periodically for changes.