Terms of Service
Bidlease has recently updated its Terms of Service (Terms)
LAST UPDATED: April 11, 2021
Welcome to Bidlease.com, an online marketplace that allows third-party sellers to list an asset for sale; and to connect, communicate, and transact with buyers.
Bidlease.com is operated by Banking Technologies Asia MSC Sdn Bhd (602443-A) and its affiliates (Bidlease) provide website features and other products and services to you when you visit Bidlease.com (the Website) and use Bidlease products or services (collectively Bidlease Services). Bidlease Services include the information, content, materials, products, and software included on or otherwise made available to you by Bidlease and references to the Bidlease Services in these Terms include any or all of these. Bidlease provides the Bidlease Services to you subject to these Terms and accessing the Website and using the Bidlease Services, you agree to be bound by them. Please read them carefully before using Bidlease Services.
2. ELECTRONIC COMMUNICATION
When you use the Bidlease Services or send e-mails, text messages, or other communication from your desktop or mobile device to us, you are communicating with us electronically. We will communicate with you electronically in a variety of ways, such as by e-mail, text, or communication via our discussion forum. You consent to receive communications from us electronically and agree that communications that we provide to you electronically satisfy any legal requirement that such communication be in writing.
3. COPYRIGHT AND OTHER RIGHTS
All content included in or made available by Bidlease, such as text, graphics, logos, button icons, images, video and audio clips, digital downloads and data compilations is the property of Bidlease and is protected by international copyright and authors’ rights laws and (where applicable) database right laws.
Other than to the extent necessary to use the Bidlease Services for their permitted purposes and in accordance with these Terms, you may not copy, extract and/or re-utilize any content of Bidlease without our express written consent, including, without limitation, any listings, descriptions, prices and account information. In particular, you may not utilize any data mining, robots, or similar data gathering and extraction tools to extract (whether once or many times) for re-utilization any substantial parts of the Bidlease Services or their content, without our express written consent. You may also not create and/or publish your own database that features substantial parts of the Bidlease Services or their content without our express written consent.
Graphics, logos, page headers, button icons, scripts, and service names included in or made available through the Bidlease Services are trademarks of Bidlease. Bidlease’s trademarks may not be used in connection with any product or service that is not Bidlease’s, in any manner that is likely to cause confusion among customers or in any manner that disparages or discredits Bidlease. All other trademarks not owned by Bidlease that appear in the Bidlease Services are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by Bidlease. You may not frame or use framing techniques to enclose any trademark or logo (including images and text) of Bidlease without our express written consent. You may not use any meta tags or any other “hidden text” utilizing Bidlease’s names or trademarks without our express written consent.
5. YOUR ACCOUNT
By registering and creating an account with Bidlease, you represent and warrant that you over 18 years of age and you can form legally binding agreements under applicable law. If you are registering an account for a business, organization or other legal entity, you represent and warrant that you have the authority to legally bind that entity. Unless authorized by Bidlease in writing, you may have only one account, unless authorized by Bidlease in writing.
You are responsible for maintaining the confidentiality of your account and password. Except to the extent caused by our breach of these Terms, you are responsible for all activities that occur under your account regardless of whether the activities are authorized by you or undertaken by you. Bidlease is not responsible for unauthorized access to or use of your password or account. You should take all necessary steps to ensure that your password is kept confidential and secure and should inform us immediately if you have any reason to believe that your password has become known to anyone else, or if your password is being, or is likely to be used in an unauthorized manner. You must ensure that the details you provide to us are correct and complete and inform us of any changes. You can access and update certain information you have provided to us via your account dashboard.
If we have concerns with your account, or activity relating to your account, or if you are in breach of applicable laws or these Terms, we reserve the right to take action on your account in accordance with these Terms, including without limitation by (i) refusing service, (ii) suspending or restricting access to your account, (iii) terminating your account, or (iv) removing or editing content you post using your account. The action we elect to take and any notice you may receive will vary depending on the Bidlease Services, the circumstances, and our assessment of relevant factors.
6. ID VERIFICATION
Any reference to a buyer or seller being “verified” indicates only that the buyer or seller has completed a relevant verification or identification process and nothing else. Any such description is not an endorsement, certification or guarantee by Bidlease about any buyer or seller, including their identity, background or whether they are trustworthy, safe or suitable.
To access or use some of the Bidlease Services, you may be asked to provide proof of identity or other methods of identity verification. You agree to provide Bidlease or any third party which provides goods or services to Bidlease with all identification documents (including but not limited to, copies of passports and/or government-issued driver’s license) which Bidlease requests from you from time to time for the purposes of verifying your identity.
7. Bidlease ROLE
Bidlease allows third-party sellers to list and sell their assets using the Bidlease Services. Bidlease does not own, create, sell, resell, provide, control, offer or deliver listings or the assets contained therein. The relevant seller is indicated on the respective listing page. While Bidlease helps facilitate transactions that are carried out on the Website, Bidlease is neither the buyer nor the seller on the seller’s assets.
Bidlease provides an avenue for sellers and buyers to negotiate and complete transactions. Accordingly, the contract formed at the completion of the sale for these third-party assets is solely between the buyer and seller. Bidlease is not a party to this contract nor assumes any responsibility arising out of or in connection with it nor it is the seller’s agent. The seller is responsible for the sale of their assets and for dealing with any buyer claims or any other issue arising out of or in connection with the contract between the buyer and seller.
Bidlease is not responsible for:
(a) the existence, quality, suitability of legality of a listed asset;
(b) the truth, accuracy or completeness of the information contained in a listing;
(c) the future performance of a listed asset;
(d) the performance or conduct of a buyer or seller or third-party on the Website; and/or
(e) the quality, suitability or ability of a third party which provides goods or services to Bidlease or to a buyer or seller.
Your decision to purchase a listed asset shall be based solely on your own investigation and that of your legal, tax and other advisors. You accept sole responsibility for examining and investigating an asset and all information in a listing. This includes, but is not limited to, associated liabilities, financial statements, tax returns and any other facts or information which may impact your decision to purchase that listed asset and the price you are willing to pay. You understand that Bidlease may display only a summary description of a listed asset.
To help facilitate a safe, secure transaction and to preserve the integrity of the Bidlease Services, we make available a template letter of intent and sale contract for use by buyers and sellers. You acknowledge that you use these documents at your own risk. You agree that Bidlease has not in any way provided legal or financial advice by providing these documents or made representations or warranties that they are suitable for your requirements or needs and may not be appropriate or suitable to the sale or purchase of a particular asset. Bidlease recommends all parties seek their own independent legal advice in relation to the documents.
8. LISTING RULES
The following assets may be listed for sale on Bidlease:
(a) all detail and reference to files contained in a website or an application, including but not limited to, the HTML, the code base, other source code, logos, images, music, animation, films and other media, licenses and other works associated with the website or the application;
(b) any rights and obligations under or in relation to an agreement with a third party relating to assets which may include, but is not limited to hosting agreements, payment provider agreements, affiliate agreements and seller agreements;
(c) a brand name relating to a business, including any registered trademarks specified in the listing;
(d) any records;
(e) all rights to a domain name;
(f) any other documented asset including inventory or other agreement critical to the sale and
ongoing concern of a business, including legal agreements, employment agreement, leasing agreements and other agreements; and
(g) any other particulars specified as being sold as part of a listing.
For the avoidance of doubt, Bidlease does not promote, encourage or facilitate the sale of securities using Bidlease Services.
When you create a listing, you will be asked to provide complete and accurate information about your asset, including, but not limited to a business description and current and historical financial data. You are responsible for your listing and keeping your listing information up to date at all times. You will also be asked to set an asking price for your asset/s, either a set price in the case of a fixed-price listing or a starting price, reserve price, and optional buy it now price, in the case of an auction-format listing. Please be aware that Bidlease may, in its sole discretion, prevent you from listing your asset for sale, or suspend an existing listing, if it considers that a price set is unreasonable or not aligned with market value.
You warrant and represent to Bidlease and to each buyer that:
(a) you own the asset or are entitled to sell the asset;
(b) you are the owner of all intellectual property rights, including but not limited to copyright, patent, trademark, designs whether registered or not and throughout the world and all other rights, title and interest in the asset,
(c) the asset is transferable to a buyer; and
(d) any and all agreements with third parties are transferable to the Buyer.
You must not create a listing for an asset which is:
(a) is obscene, vulgar and/or deemed by Bidlease to be offensive;
(b) contains material which infringes the rights of a third party or which assists others to infringe the rights of a third party;
(c) is engaged in activities which contravenes law of any territory; or
(d) Bidlease deems inappropriate or in breach of these Terms.
9. LISTING TYPES
Bidlease enables two kinds of listings — make offer listings and fixed-price listings.
With a fixed price-listing, any buyer can offer to purchase the asset contained in a listing. An offer must be placed on the listing. A seller can accept, reject or counter any offer. If you are a buyer and have placed an offer, you acknowledge and agree that should the seller accept that offer, you are committing to purchase the asset and may be required to pay for it. If you are a seller and have accepted an offer, you acknowledge and agree that you are committing to sell the listed asset to the buyer.
With an make offer listing, a seller will accept bids from buyers for a predetermined amount of time — generally 30 days. For a bid to be valid, it must be higher than the starting price or then-current bid. At the end, the asset subject to the offer is at the sole decision of the seller, whether to accept such an offer or not.
For the avoidance of doubt, Bidlease is simply a listing service.
A listing may also show a ‘buy it now’ button with a price listed next to it. A buyer may purchase a listed asset simply by clicking the ‘buy it now’ button, provided it is accepted by the seller. By clicking ‘buy it now,’ a buyer commits to buying the listed asset.
There is no exclusivity of listing at Bidlease.com
12. OUR FEES
You will be charged a listing fee when you list an asset for sale. For current fees, please see Bidlease Pricing. You will only be charged a fee for creating a listing; there is no fee for editing a listing. You will be charged a fee whether or not the listed asset sells. Listing fees are non-refundable.
You may cancel your listing or account at any time by emailing info@Bidlease.com and then following the specific instructions indicated to you in Bidlease’s response.
13. CREDITS AND REFUNDS
If Bidlease issues you a refund, that refund will be paid to you using the same payment method you used to pay Bidlease. Bidlease may refund an amount of paid by you if you are entitled to a refund in accordance with these Terms or Bidlease is required by law or considers that it is required by law to do so. Bidlease’s determination as to whether a refund is required is final and conclusive and may not be challenged by you.
14. PAYMENT PROCESSING
Bidlease is not an escrow service and does not hold property on behalf of any person, unless otherwise specified. Bidlease is not a payment provider. For the purposes of facilitating a transaction, any and all payment processing services through or in connection with your use of the Bidlease Services are provided to you by one or more independent third-party service provider, as appropriate. You hereby consent and authorize Bidlease to share any information and payment instructions you provide with any third-party service provider(s).
All information is provided solely for educational purposes and you are encouraged to seek independent advice from a competent professional person if legal, financial, tax, or other expert assistance is required.
15. REVIEWS AND COMMENTS AND COMMUNICATION
You may post reviews, comments, and other content; send communications; and submit questions or other material, as long as the content is not:
(a) of a personal or solicitous nature,
(b) unrelated to a listing,
(c) an attempt to transact outside the Website,
(d) illegal, obscene, abusive, threatening, defamatory or an invasion of privacy,
(e) infringing of intellectual property rights, or
(f) injurious to third parties or objectionable.
You must not post or send any content that contains software viruses, or that comprises political campaigning, commercial solicitation, chain letters, mass mailings or any form of “spam”. You may not use a false e-mail address, impersonate any person or entity, or otherwise mislead as to the origin of any such content or communication. We reserve the right (but not the obligation) to remove or edit any content at any time and for any reason in its sole and absolute discretion.
While comments and reviews are visible to other users, interactions and exchanges via the discussion forum are private as between individuals and accessible to Bidlease.
16. INTELLECTUAL PROPERTY RIGHTS
You are responsible for your content and you represent and warrant that you own or otherwise control all of the rights to the content and material that you post and that, as at the date that the content or material is posted it: (i) is accurate; (ii) complies with these Terms and (iii) does not breach any applicable laws.
If you post content or submit material, and unless we indicate otherwise, you grant Bidlease a non-exclusive, royalty-free and fully sublicensable and transferable rights to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such content throughout the world in any media;
You agree that the rights you grant above are irrevocable during the entire period of protection of your intellectual property rights associated with such content and material. To the extent permitted by law, as applicable, you: (i) consent to any infringement of; and (ii) agree to waive, any right you have to be identified as the author of such content and any right you have to object to derogatory treatment of such content. You agree to perform all further acts necessary to perfect any of the above rights granted by you to Bidlease, at our request.
You agree to indemnify Bidlease for all claims brought by a third party against Bidlease arising out of or in connection with the content and material you supply except to the extent that any liability arises from our failure to remove the content or material.
17. THIRD-PARTY LINKS
20. PROHIBITED ACTIVITIES
You may not use the Bidlease Services:
(a) in any way that causes, or is likely to cause, any Bidlease Service, or any access to it to be interrupted, damaged or impaired in any way
(b) in any way that may interfere with or harm any other user of the Bidlease Services;
(c) for fraudulent purposes, or in connection with a criminal or other unlawful activity,
(d) in any manner that is not permitted under these Terms.
18. DISCLAIMER AND LIABILITY
Unless otherwise specified in writing, Bidlease disclaims, and does not make, any representation or warranty of any kind in respect of the Bidlease Services including without limitation any representation or warranty,
(a) that they are free of viruses or other harmful components;
(b) that your use of the Bidlease Services will be uninterrupted or error-free; or
(c) as to the suitability or availability of the Bidlease Services.
Bidlease will not be responsible for:
(a) losses arising from the unavailability of, or your inability to use the Bidlease Services
(b) losses that are not directly caused by any breach on our part;
(c) any business loss, loss of sales, profits, revenue, contracts, anticipated savings, data, goodwill or wasted expenditure;
(d) any indirect or consequential losses;
(e) any delay or failure to comply with our obligations under these conditions if the delay or failure arises from any cause which is beyond our reasonable control.
For any other loss relating to the Bidlease Services, we limit our liability to the amount you have paid to us for the relevant Bidlease Services.
Nothing in these conditions is intended to:
(a) override any express commitments Bidlease gives to you with respect to the Bidlease Services (for example, the provision of a refund in certain circumstances) or
(b) exclude, restrict or modify any right or remedy you have in statute including under the Australian Consumer Law or otherwise to the extent that that right or remedy cannot be excluded, restricted or modified under law. Any disclaimer, exclusion, or limitation in these conditions applies as provided for in these conditions to the full extent permitted by law and subject to any such non-excludable right or remedy.
You agree to indemnify and hold Bidlease and its affiliates and their officers, directors, employees, and agents harmless from any and all claims, demands, losses, liabilities, and expenses (including legal fees) arising out of or in connection with:
(a) your use of the Website, Bidlease Services or assets obtained as a result;
(b) your breach or violation of any of these Terms;
(c) Bidlease’s use of your content;
(d) your violation of the rights of any third party, including another seller or buyer.
You agree to hold Bidlease, its principals, officers, directors, brokers, agents, servants, employees and assigns harmless from any misrepresentations made by you.
20. ENTIRE AGREEMENT
These Terms supersedes all prior representations, arrangements, understandings, and agreements between the parties relating to the subject matter and sets forth the entire and exclusive agreement and understanding between the parties.