7.14 - Both Buyers and Sellers will be fully responsible for their use of the Platform.
7.14.1 Sellers - if you subscribe as a Seller you agree to the following additional terms which do not apply to Social Users you warrant that they are 18 years old or over.
7.14.2 Identification Requirements for Consumers (both Buyers and Sellers): Engine Notes requires proof of identification when using our platform. Engine Notes may require Buyers and Sellers to provide the following documents to verify their identity:
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- Copy of Passport or National ID Card
- Proof of address (utility bill, bank statement, etc.)
- Buyers Only: A valid Credit Card / Bank Account
- Sellers Only: Valid documents proving ownership of the vehicle for sale (Vehicle Logbook, Purchase Receipts, History Files etc.)
Additional Verification for customers who are identified as high-risk due to the size or cross-border nature of the transaction, Engine Notes may require additional verification, such as:
- Verification of the source of funds used.
- Verification of the beneficial owner of the account used.
- Verification of the consumer's employment status and/or income
Engine Notes reserves the right to decline access to the platform or terminate services for any customer who is identified as high-risk and who fails to provide the required information or documents. We will report any suspicious activity to the relevant authorities in accordance with our legal and regulatory obligations.
7.14.3 Business User Verification (Sellers & Buyers): We require companies to provide the following documents to verify their identity:
- Certificate of Incorporation
- Articles of Association
- Memorandum of Association
- List of all Directors and Shareholders
- Proof of address of the company
- Valid documents proving ownership of the vehicle for sale (Vehicle Logbook, Purchase Receipts, History Files etc.)
Director Verification: We require each director of the company to provide the following documents:
- Copy of Passport or National ID Card
- Proof of address (utility bill, bank statement, etc.)
Shareholder Verification:
We require each shareholder who holds more than 25% of the company to provide the following documents:
- Copy of Passport or National ID Card
- Proof of address (utility bill, bank statement, etc.)
Details of their shareholding Additional Verification for individuals identified as ''higher-risk'': For customers who are identified as higher-risk, Engine Notes may require additional verification, such as:
- Verification of the source of funds used to purchase items on the marketplace.
- Verification of the beneficial owner of the company
- Verification of the business activities of the company
We reserve the right to decline access to the platform or terminate services for any customer who is identified as high-risk and who fails to provide the required information or documents.
7.14.4 you must provide the following information: name, address, date of birth, email, phone number, bank account details and such other information required by our third-party payments’ processor may require whom we use for handling all card payments and credit checks. Any information you provide must be accurate, correct, up to date and not misleading.
7.14.5 you are the legal owner of any Lot and the Lot is free from any legal encumbrance, equitable encumbrance or otherwise. If any item listed in the Lot is subject to any third party encumbrance, such as finance or is listed as one of the car insurance write-off categories, the full nature of that third party encumbrance and/ or car insurance write-off category information must be obtained and clearly identified ad detailed as part of the listing and you must confirm in writing that you have legal ownership of the Lot
7.14.6 you will provide us with the Reserve
7.14.7 once a price has been agreed for any Lot then you will be obliged to sell the Vehicle for said price
7.14.8 By subscribing to the Platform you agree to the provision of this information to be used in accordance with our Privacy Policy https://www.enginenotes.com/legal/policies/
7.14.9 you cannot bid on either your own Lot or that of someone connected to you, nor can you have a friend or someone connected to the Seller’s bid on the Seller’s Lot. You will be liable to us and indemnify us for all losses, claims, liability, costs, damages, fines or expenses (including all legal costs) we suffer as a result of your breach of this clause.
7.14.10 you must agree to allow the sale of the Lot to proceed through the Platform and remove the Vehicle from sale via any other channel or medium whatsoever throughout the duration of the Sale. Failure to do so will incur liability for the Charge (10% of the reserve value subject to a minimum of £550). If you do sell your Lot prior to concluding a sale through the Platform, you must immediately remove the Lot from the Platform. Any Lot sold within 72 hours of the listing of the Lot being removed from the Platform will result in a liability on the Seller to pay us the Charge.
7.14.11 you must keep confidential any communications with us, Buyers, and our payment partner(s). If you feel that your details have been compromised in any way, you must promptly notify us in writing.
7.14.12 you acknowledge that we shall use the information provided by the Sellers to identify and match the vehicle required by a Buyer.
7.14.13 you agree it is their individual responsibility to keep both your personal information and vehicle information up to date at all times and to respond to all requests from either the Buyers or us within a reasonable time.
7.14.14 you may amend or update both your information and/or the information corresponding to any Lot, including contact details, at any time.
7.14.15 you are not permitted to engage in any Direct Sales that are not transacted through the Site, and we reserve the right to charge you the Charge (10% of the reserve value subject to both a minimum of £550) due to us.
7.14.16 If the Lot does not sell when the Sale period is finished, you will be given the option to continue listing the Lot on the Platform. The “Buy Now” price will be determined on the last reserve the Seller had agreed with us. Any Buyer that agrees to pay the Buy Now price on any Lot will immediately pay to us the Charge (5% +VAT when the Lot Value <=£120,000 subject to both a minimum of £550 and maximum of £6000; where the lot value is => £120,000 subject to 10% +VAT).