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 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.
7.14.3 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 and detailed as part of the listing and you must confirm in writing that you have legal ownership of the Lot
7.14.4 You will provide us with the Reserve
7.14.5 Once a price has been agreed for any Lot then you will be obliged to sell the Vehicle for said price
7.14.7 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.
7.14.8 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 A Failure to do so will incur liability for the Charge (4.5% of the reserve value subject to both a minimum of £550 and maximum of £6000). If you so sell your Lot prior to concluding a sale through the Platform, you must immediately remove the Lot from the Platform. Any Lot sold within 24 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.
7.14.9 You must keep confidential any communications with us, Buyers and our payment partner. If you feel that your details have been compromised in any way, you must promptly notify us in writing.
7.14.10 You acknowledge that we shall use the information provided by the Sellers to identify and match the vehicle required by a Buyer.
7.14.11 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.
7.14.12 You may amend or update both your information and/or the information corresponding to any Lot, including contact details, at any time.
7.14.13 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 (4.5% of the reserve value subject to both a minimum of £550 and maximum of £6000) due to us.
7.14.14 If the Lot does not sell when the Auction period is finished, you will be given the option to continue listing the Lot on the Platform for a period of 7 calendar days. 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 (4.5% of the reserve value subject to both a minimum of £550 and maximum of £6000).