Terms and Conditions for Users of Auction Platform
The User as defined below ("You") intend to use the web platform of the TelcoSource.net Website, TelecomMarketplace.net Website or PurchasingAuctions.co.uk Website; in accessing and using the web platform, You agree to the Terms and Conditions set out in this Document. These Terms and Conditions are a legally binding contract and You represent that You are authorized by Your firm to execute a legally binding contract.
In the event that You personally are not authorized to represent Your firm in any of the Terms of this agreement, You may print this contract, obtain the signature of an authorized officer of Your firm and provide it to Us. Executed agreements may be faxed to Us at +1.646.843.0462 or scanned and emailed to sales@TelcoSource.net. Upon Our receipt of an authorized agreement from Your firm, We may approve Your application. Your firm via an authorized signature and submittal is authorizing You to participate in and commit to auction results on its behalf.
In these Terms and Conditions, unless inconsistent with the context or otherwise specified, the following definitions will apply to words and expressions:
- "Terms and Conditions" means these terms and conditions as may be varied or amended from time to time and any additional terms and conditions or disclaimers with reference to or displayed on the Website whether by hypertext link or otherwise;
- "Website" means this Virtual Auctions online auction website, located at http://www.TelcoSource.net, http://www.purchasingauctions.co.uk or http://www.TelecomMarketplace.net and any subsequent URL used by Us from time to time;
- "We"/"Us"/"Our" means SR Holdings, LLC dba TelecomMarketplace.net and its partner Horizon Supply Chain Associates Ltd.
- "You"/"Your" means the person, firm of the person, company of the person or other organization of any nature accessing and using this Website whether as agent or principal.
- "The Services" means any specific goods and services offered in connection with an auction (including an electronic RFQ) on this Website as detailed in the "Nature of Service" section of the SOR. An auction item shall be included in "The Services" at the time a Purchaser incorporates it into an auction event and invites the Purchaser. The Services shall include but not be limited to Telecom and Information Technology services, one time purchases, equipment, recurring and non-recurring products, RFQs, network builds and any other items brought to market by Our platform in the future.
- "Agency Program" means the sales distribution program operated by the Seller of services that will track, manage and pay all commissions to Us.
- "Reserve Price" the price set by the Purchaser and displayed in the auction details that indicates the price that when reached or bettered shall indicate the Purchaserís good faith obligation to contract for The Services. The Reserve Price shall be calculated based on Total Contract Value (calculated by multiplying the MRC by the number of months in the term and then adding the NRC). The sole criteria for meeting the Reserve Price shall be Total Contract Value. All sellers who meet or better the Reserve Price in a Reverse Auction shall be deemed "Qualified Sellers" for contracting purposes.
- "Purchaser" shall mean the registered Purchaser of The Services who is authorized by their firm to create an Auction (Reverse Auction or e-RFQ) and purchase The Services and who creates the auction and invites participants to bid. The term "Buyer" shall have the same meaning in this document.
- "Invited Seller" shall mean a Seller who registers for the auction as a result of a direct invitation by the Purchaser (wherein the Purchaser input the Sellerís email address manually into the invitation template), typically though not exclusively due to some prior relationship.
- "Selected Seller" shall mean a Seller who registers for general participation in the auction service and agrees to make their services available to interested Purchasers. The Selected Seller may receive an invitation from Us, specifically when a Purchaser "selects" the Seller from a list of registered providers that We may propose to Purchaser. Typically, Selected Sellers enjoy new opportunities through the platform when they were not originally invited directly by the Purchaser.
- "Sellers" on its own shall mean collectively Invited Sellers and Selected Sellers. The term "Supplier" shall have the same meaning as "Seller".
- "Qualified (Qualifying) Bidder" shall mean one or more General or Invited Sellers who have met or improved upon the Reserve Price in a "Reverse Auction" event.
- "Commission" shall mean the fee paid to Us (typically by Sellers).
- "Statement of Requirements" or "SOR" shall refer to the web page approved by Purchasers and provided to Sellers that contains the details of the Auction and The Services being auctioned, including all attachments, links, commentary in "Open Chat" or reference documents.
- "MRC" shall mean any Monthly Recurring Charge for The Services.
- "NRC" shall mean any one time or Non-Recurring Charge for The Services.
- "Platform" shall mean the websites, processes, software, systems, intellectual property, hardware, management expertise, data, agreements and additional items added now or in the future that support the Auction tool and allow for the auction.
- "Auction" shall in general mean any event designed and run by a Purchaser on this site. For general purposes, the term Auction shall include events designed as Reverse Auctions or e-RFQís with or without a Reserve Price.
- "Electronic Request For Quote or e-RFQ" shall mean an event akin to a Reverse Auction in which the Purchaser does not communicate a Reserve Price nor do they make a commitment to Purchase services from any Seller.
- "Reverse Auction" shall mean an event in which the bidders typically bid the price of the service down. The Purchaser is making a commitment to contract with one of a subset of Suppliers who have met or improved upon the Reserve Price set by the Purchaser.
- "Open Chat" a feature on the Platform that allows Purchasers and Suppliers to communicate openly before or during an Auction. All Suppliers are able to view correspondence and benefit from information clarified or shared.
- "Auction Credits" shall be awarded to new and existing Purchasers at Our sole discretion. Each Auction shall utilize one credit. We shall award additional free credits to Purchasers who effectively utilize the platform, thereby enabling them to continue to Use the Platform without charge. Purchasers who do not use the Platform as intended or whose activity repeatedly fails to result in contracted services, may see their Auction Credits depleted or removed. Suppliers do not need "Auction Credits" to receive invitations or participate in Auctions.
NATURE OF THE SERVICE
2. Through this Website, We provide a real time Auction service to enable registered Purchasers to obtain competitive bids for a range of products/services from a number of Suppliers. Purchasers may choose to launch events as either a "Reverse Auction" or an "e-RFQ". Registered Purchasers will typically not be charged for use of the auction tool except under certain circumstances. Namely, in the event that the Purchaser completes a successful "Reverse Auction" that results in one of more Qualifying bids that meet or exceed the Reserve Price requirement and subsequently the Purchaser fails to in "good faith" contract, accept and pay for such service with the Qualified Bidder. In such event the Purchaser shall be liable for a fee equal to the commission that would have been due from the Seller. The Purchaser shall have no obligation to purchase services when launching an e-RFQ.
3. We are not Auctioneers. You acknowledge and accept that We merely offer a tool; the use of which seeks to produce a best lowest bid from suppliers who have been invited by or selected by a Purchaser to participate in their Auction. The Purchaser may select the supplier with the lowest bid at Auction. The final selection of supplier is a matter for the Purchaser and their decision is final. They may elect not to proceed with the procurement at all but in such circumstances may be liable for the Commission having launched a "Reverse Auction" that yielded Qualified Bidders. Winning bidders will be contacted by Purchaser upon completion of each event.
4. We make no warranties or representations about The Services, nor do We give assurances whatsoever that any supplier will bid at auction or provide You with The Services. Suppliers will need to be validated in the customary way to satisfy a Purchaser that they are suitable for their needs. We take no responsibility for any pre or post Auction documentation or supply contracts relating to the procurement activity; this is a matter strictly between the Purchaser and their winning supplier.
GENERAL RULES GOVERNING THE AUCTION
5. You can only use the Auction (create an auction or make a bid) if:
- You meet all of the Representations of Your registration type stated in the section below entitled "Purchaser Representations" and\or "Seller Representations".
- Are invited to participate by the Purchaser.
- Are registered to participate in an Auction.
- Have accepted and agreed to be bound by these "Terms and Conditions on behalf of Your firm or have obtained the signed authorization for Your firm from an Authorized Signatory and submitted it to Us.
6. All auctions will:
- Be conducted at a specific date and time and for a specific duration.
- Be conducted in US Dollars ("$").
- Have a start time, duration and bid decrement set in advance
- Show all bids to all Auction participants as they occur except that in some auctions, bidders may not be able to see bid results until after they have placed a valid initial bid. Only the Purchaser will see the identity of each bidder; suppliers may see the actual bids but the bidderís identity will remain anonymous to each Supplier.
7. Bids: Any bid that You make via this Website constitutes an offer to supply The Services as set out in the Statement of Requirements provided by and approved by the Purchaser upon invitation. You may not cancel a bid submitted to the Auction after the Auction is complete. By bidding to supply The Services You agree that You will meet the product specification as set out in the SOR. Any bid You make will remain valid for 90 days from the day of the Auction and will be the price established for future contractual action for that purchase. In order to become a valid competitive bid, it must be lower than Your previous bid by the decrement set for the Auction and disclosed in the SOR. We reserve the right to cancel or stop an auction at any time or reject a bid that We deem unacceptable for any reason. We reserve the right to delay, cancel or reject an Auction for any reason, including if We believe in Our sole discretion that the "Reserve Price" set by the Purchaser is unrealistic or misaligned by 20% or more from the Market.
8. Extensions: We reserve the right to automatically extend the duration of the Auction to ten (10) minutes or a timeframe We choose when a new bid is submitted within 10 minutes or a timeframe We choose, before the close of an auction, to allow time for further responses. Sellers are encouraged to make arrangements to ensure they are available for the Auction for the indicated timeframe and any extensions thereof. Purchasers and Suppliers shall track the event progress inside the platform and should not rely on any currently available or new alerts that may or may not be generated by the platform.
9. Reserve Price:
The winning bid in any "Reverse Auction" shall be chosen by the Purchaser from the subset of Supplier Bids that meet or improve upon the disclosed Reserve Price. The Bid and Reserve Price shall be expressed as Total Contract Value (Calculated by multiplying the MRC by the number of months in the term and then adding the NRC). The sole criteria for meeting the Reserve Price shall be Total Contract Value. The Seller is not required to satisfy both the NRC and MRC in cases where the winning bid satisfies the Total Contract Value as calculated above.
Purchasers shall have the option of running an auction event as either a "Reverse Auction with a Reserve Price" or as an "Electronic Request For Quote (e-RFQ) without a Reserve Price". Purchasers can typically maximize their savings by using a Reserve Price. By utilizing the e-RFQ format the buyer can use the platform to solicit and collect bids without indicating a commitment to purchase The Services. However, We shall be due the commission (typically from the seller) on all events that yield a contract between "Purchaser" and "Seller" within (180) one hundred-eighty days of any event.
10. Selection of Winning Bid
The Purchaser makes final selection of the supplier. If Your bid is successful You will be contacted by the Purchaser to confirm acceptance of Your bid. For Reverse Auctions Purchasers are encouraged to negotiate in good faith to contract with a supplier from the subset of bidders who haves have met or bettered the Reserve Price. For Request For Quotes, Purchasers are encouraged but not obligated to contract with a participating supplier. In either case, a transaction only becomes complete upon an authorized and executed contract for services being completed. In situations wherein Purchaser and Seller have previously entered into a Master Service Agreement (MSA), the completion of the transaction may take the form as outlined in the MSA (ex. Purchase Order, electronic order entry etc). Purchasers who fail to in "good faith" contract for services within 90 days with a qualifying bidder in a "Reverse Auction" that terminates with the Reserve Price having been met or bettered may be temporarily or permanently suspended by Us or lose privileges, solely at Our discretion.
11. Registration. You are required to register as a member by completing the online "User Registration Facility" on the Website and submitting it to Us. You agree to ensure that Your registration details are true and accurate and to update any details when necessary via the Website.
12. Security. You are solely responsible for keeping Your personal username and password secure and confidential. You should not disclose Your username or password to any other party. Once logged on using Your username and password whether authorized or unauthorized, You take full responsibility for the ensuing transactions once access to the site is obtained. If You believe that Your user name and/or password has been compromised or You are aware of any other breach of security regarding the Site, then You are obligated to notify Us immediately.
13. Consumer Surveys & Promotion: We may from time to time invite You to give feedback on Our service and the Website. You acknowledge that We may publish such feedback provided by You on this Website and as such, You agree that We shall own all intellectual property rights in any feedback You choose to provide. We agree not to publish Your personal details on this Website without Your consent.
14. Purchaser Representations
As Purchaser You represent the following:
- a. You are a duly authorized Purchaser for Your firm. You have the authority to manage the purchasing process, agree to price and terms and commit Your firm to abide by the contract terms.
- b. You are authorized to execute contracts, which commit Your firm for the intended Services.
- c. You will negotiate in good faith to contract with a qualified bidder in all cases wherein the Reserve Price has been met or bettered. Note: a transaction only becomes complete upon an authorized and executed contract for services being completed. In situations where Purchaser and Seller have previously entered into a Master Service Agreement (MSA), the completion of the transaction may take the form as outlined in the MSA (ex. Purchase Order, electronic order entry etc). Purchasers who fail to contract for services within 90 days with a qualified bidder in a "Reverse Auction" that completes with a bid equal to or below the Reserve Price, may be temporarily or permanently suspended by Us, solely at Our discretion and will be liable for the Commission.
- d. You are authorized to pay any commission that becomes due to Us due to Your failure to enter a contract with a qualified bidder in instances wherein at least one bidder has met the Reserve Price requirement. The Auction service is typically free to Purchasers, except in situations wherein the Purchaser fails to "in good faith" enter a contract with a qualified bidder. Purchasers are advised that this auction process is a valid part of the contracting process and invitations should not be sent directly or using the "Selected Vendor" option to parties with whom the Purchaser is not prepared to "in good faith" enter into an agreement or accept services from. The commission due shall be calculated as per the commission rates applicable to the winning bidder and detailed in the section "Commission Schedule" of this agreement. To the extent that You are not prepared to commit to a purchase for The Services during the event, You are advised to choose the e-RFQ format for Your event to avoid liability or disruption to the marketplace.
- e. You agree to cooperate, timely communicate and disclose to Us the outcome of all events, negotiations, discussions, contract talks, contracts and outcomes for all events\Auctions that You launch through Our platform. In the event that We are unable to discern the contractual outcome of an event due to either the lack of or erroneous information received from You or Your firm or Your failure to cooperate, then You shall be liable for the Commission typically due from the Supplier. You may Appeal such fees within 15 days of billing by providing to Us all documentation and information necessary for Us to bill the Supplier accurately.
You as Purchaser have read the agreement and specifically Purchaser Representations and agree to such terms and acknowledge that You are duly authorized by Your firm to commit to these obligations, including any fees associated with You or Your firmís failure to abide by the auction rules and obligations (typically fees are due from successful Sellers). See beginning of this document if You are not authorized for authorization process for directions for manual authorization process.
15. Seller Representations:
As Seller You represent the following:
- a. You are a duly authorized to provide pricing, amend pricing and participate in an auction for Your firm. You have the authority to sell services, negotiate terms and execute contracts committing Your firm to provide the service being auctioned.
- b. You represent that Your firmís services meet the minimum product requirements set forth by the Purchaser. In the event that Your product approaches but does not meet all technical Purchaser requirements You represent that You will communicate in writing all deficiencies to the Purchaser using the Supplier Upload feature or "Open Chat". Suppliers are forbidden to enter bids that do not satisfy all of the products requested, as disclosed in the "Nature of Service" section of the "Statement of Requirements". Bidders shall not enter bids for partial solutions, individual products etc. You must bid on the full SOR.
- c. You will negotiate in good faith to contract with the Purchaser in all cases wherein Your bid has been selected by the Purchaser. Note: a transaction only becomes complete upon an authorized and executed contract for services being completed. In situations where Purchaser and Seller have previously entered into a Master Service Agreement (MSA), the completion of the transaction may take the form as outlined in the MSA (ex. Purchase Order, electronic order entry etc). Awarded Sellers who fail to contract for services with Purchaser may be temporarily or permanently suspended by Us, solely at Our discretion. Awarded Sellers who fail to contract for services with a willing Purchaser on the terms specified in the auction process shall be liable to Us for the Commission for the intended term of the contract between Purchaser and Seller.
- d. You represent that Your firm has an agency program or similar program or capability or will institute such capability that is capable of:
- managing indirect sales;
- tracking agent sales;
- tracking agent commissions;
- reporting on product delivery status; and,
- paying agent commissions. You represent that You will use such program to track, report on and pay commissions due in connection with Your participation in the auction or in any contract derived from an auction run using Our platform. Further You represent that You will commit Your firm to pay the agreed upon minimum monthly recurring commission on all sales derived from an Auction regardless of any previous relationship between Your firm and the Purchaserís firm or Your firm and Us. You acknowledge that You shall incur and pay Us the commission on all events that result in a contract for like services between You and the Purchaser. This includes:
- Auctions wherein You are selected as the winner.
- Auctions that fail to meet the Reserve Price requirements and You are selected by Purchaser to provide The Services.
- Any e-RFQ in which You participate that results in Your being selected by Purchaser to provide The Services.
- Any revenues You derive for The Services that were revealed to You through this Auction site or through correspondence between You and Purchaser via this site or between You and Us. This includes contracts executed between Purchaser and Seller for The Services at any time after the Seller accepts the invitation for the Auction from Purchaser delivered from this site.
- For the avoidance of doubt, You are prohibited from transacting with the Purchaser or Seller for The Services in a manner that attempts to or succeeds in denying Us Our commission.
- You acknowledge that You have read the agreement and specifically the "Seller Representations" and agree to such terms and acknowledge that You are duly authorized by Your firm to commit to these Representations, including any fees or commissions associated with Your participation or Your firmís participation in the auction.
- In the event that You personally are not authorized to represent Your firm in any of the Terms of this agreement, You may print this contract, obtain the signature of an authorized officer of Your firm and provide it to Us. Executed agreements may be faxed to Us at 646 843 0462 or scanned and emailed to sales@TelcoSource.net. Upon Our receipt of an authorized agreement from Your firm, We may approve Your application. In such cases, Your firm is Authorizing You to participate in and commit Your firm to auction results.
16. Commission Schedule:
- For each successful Auction that yields a contract for service for You as an "Invited Seller", You will pay Us a commission equal to 5% of the monthly recurring and non-recurring revenue for the life of The Services, net of all taxes or government fees. An "invited Seller" is defined as one who registers for the auction as a direct result of an invitation sent by the Purchaser (simply: Sellers that the Purchaser selects and invites to auction by providing their contact information).
- For each successful auction that yields a contract for service for You as a Selected Seller, You will pay Us a commission equal to 7.5% of the monthly recurring and non-recurring revenue for the life of The Services, net of all taxes or government fees. A Selected Seller is defined as one who registers for participation in the site as a generally available supplier or who receives an invitation from Us to bid in an event due to an invitation to the auction generated due to the Purchaser selecting the supplier from a list of available suppliers generated by Us and offered to the Purchaser (simply: Sellers for whom the Purchaser did not provide contact information).
- Evergreen: You agree to pay Us the commission each month for the life of the contract for The Services, including any renewals of contract for The Services auctioned. You will make payment monthly to Us within 30 days of You receiving payment from the Purchaser or within 30 days of the completion of the monthly service period, whichever is sooner.
- In instances of default by either a Purchaser or Seller in their "good faith" responsibilities to enter into a contract or provide services, for a Reverse Auction that completes with the Reserve Price being met or bettered, the defaulting party shall immediately pay Us the commission.
17. Indemnification: You agree to keep Us fully indemnified, and defend and hold Us harmless immediately upon demand from and against all actions, liability, claims, losses, damages, costs and expenses (including legal fees) We incur arising directly or indirectly as a result of Your use of the auction tool.
18. We retain no ongoing operating responsibilities beyond the auction process and are not principals to the transaction. Our role is one of a facilitator to provide You with the opportunity to participate in an Auction. For the avoidance of doubt, We are not auctioneers.
19. If a Purchaser agrees to accept a bid provided and to engage a supplier to provide The Services in respect to that bid, the contract for the provision of those Services is a private one between Purchaser and Supplier and We will have no responsibility or liability in that regard. It is the Parties responsibility to negotiate contractual terms. Purchasers are encouraged to attach sample purchase contracts, SLAs, designs, specifications, detailed RFQs and other relevant documents to the SOR to avoid disputes. Such attached documents shall be deemed inclusive portions of the SOR.
DISPUTE RESOLUTION PROCEDURE
20. Representatives from TelecomMarketplace.net will attempt to act as an impartial third party and, having examined the facts will "recommend" actions to resolve the dispute. Such "Recommendations" will be such and We do not have authority to enforce such resolutions other than Our right to suspend or terminate a registration or enforce Our right to the Commission. The following procedures apply to disputes:
- You will notify Us of the nature of this dispute as soon as possible at complaints@TelcoSource.net;
- We will try to resolve the complaint directly or between the Parties;
- If the dispute remains unresolved We reserve the right to immediately discontinue any current auction activity and suspend use of the Website to either or both parties; and,
- Our maximum obligation due to a dispute that We determine was caused by a software error, auction process error or platform derived error or omission shall be to re-run the Auction at no additional cost to either party beyond the original Commission.
DATA PROTECTION & PRIVACY
21. Your privacy is important to us. You agree that any and all personal information and data collected from You via this Website may be used in accordance with Our current Data Protection and Privacy Statement.
You are advised that following an Auction, We can and will collect data for Our own purposes and to assist in improving the platform. We may use that data (stripped of personal or firm identifying fields) as desired.
INTELLECTUAL PROPERTY RIGHTS
22. This Website and the materials provided to You through it are protected by copyright, trade mark and other intellectual property rights and laws throughout the world. You may access and use this Website solely for the purposes of use connected with the services.
23. All contents of this Website including, but not limited to, the text, graphics, links and sounds are owned by TelecomMarketplace.net and Horizon Supply Chain Associates Ltd and may not be copied, downloaded, distributed or published in any way without their prior written consent, except that You may print, copy, download or temporarily store extracts for Your personal information or when You use the services.
24. You are not permitted to use any trademarks or service marks whether registered or unregistered of any TelecomMarketplace.net and Horizon Supply Chain Associates Ltd organizations without their prior written consent.
25. In relation to any information, materials or other content that You submit to Us via this Website, You grant Us a non-exclusive, royalty-free, perpetual, irrevocable and fully sub-licensable right to use and reproduce such information, ideas, know-how, concepts, techniques and materials for the purpose of operating the platform and tracking, including without limitation, the copying, transmission, distribution and publication unless restricted by applicable law. You represent and warrant that You own or otherwise control all of the intellectual property rights and information, materials or other content that You submit or post via this Website. You shall stamp any Uploaded Documents to the SOR with the words "Confidential" should You desire that said document be treated as such. In such case, attached documents stamped "Confidential" shall only be shared with the sellers/purchasers for that auction. We assume no liability in the management or protection of such data by participating parties.
- We are not responsible for and have no liability for the actions or failure to act of Purchasers or Suppliers who register for and use this Website service or other third parties. You should make any complaints or claims You may have relating to any of their activities directly to the person/company concerned and copy Our firm at complaints@TelcoSource.net.
- Horizon Supply Chain Associates Ltd and TelecomMarketplace.net, shall have no liability to You as a Seller or Purchaser save in respect of any statutory liability for which liability cannot be excluded.
- Use of the Website and its related services are at Your sole risk. We will not be liable for any direct, indirect or consequential loss or damage however arising as a result of use of The services.
- Any software downloaded from this Website or as part of the service is at Your own risk and We do not accept liability for any direct or indirect loss or damage caused as a result of any computer virus, bugs, Trojan horses, worms, software bombs or other similar programs arising from Your use of the Website. Whilst We will do Our best to ensure that the Website is free from such destructive programs, it is Your responsibility to take precautions to scan for such destructive programs. Our platform allows either party to Upload and share documents between participants. It does not screen, clean or qualify that such documents are free from the items listed above. Participants should screen files appropriately before opening.
- Any hyperlinks to third party sites provided via the Website exist for information purposes and Your convenience only and We do not endorse the content of such sites. We are do not accept any liability arising directly or indirectly from the content of such sites.
27. Intercepts. Internet transmissions are never completely private or secure and there is a risk, therefore, that any message or information You send to Us from this Website may be intercepted and potentially read by others. We will have no liability in respect to any transmissions You send to Us and You do so entirely at Your own risk.
28. Availability of the Website. You acknowledge that due to the nature of the Internet, We cannot guarantee that access to the Website will be uninterrupted or that e-mails or other electronic transmissions will be sent to You or received by Us. Troubles should be reported to Us at support@TelcoSource.net.
29. Except as otherwise stated, any notices that You wish to send to Us should be emailed to sales@TelcoSource.net. Any notices that We may wish to draw to Your attention will be displayed on the Website or sent to Your email address as provided on Your profile.
TERMINATION OF SERVICES
30. We reserve the right at Our sole discretion to:
- Discontinue, delay, or reject any auction or bid and\or exclude You from using the Platform;
- Suspend or discontinue the service at any time;
- Modify or withdraw the Website at any time without notice;
- Refuse any application to register and access the services and to temporarily or indefinitely suspend any registered member;
- Withdraw user names and passwords at any time without notice should We have reason to believe that Your user name and password have been discovered and/or used by any person or organization other than You;
- We reserve the right to review, delay, reject or approve any auction up to during after the auction. We reserve the right to require You to amend auction specifications before proceeding with an auction; and,
- Limit or moderate Your use of the service; including the use of and awarding of event credits. For example, Purchaserís who choose to predominantly use the e-RFQ format and infrequently contract for The Services with Suppliers may see their usage moderated. Sellerís who register for Auctions but rarely submit realistic bids, may also see their privileges reduced or transferred to more responsive sales representation.
31. These Terms and Conditions will be construed in accordance with and governed by the laws of the State of New Jersey and each party agrees to submit to the exclusive jurisdiction of the courts of the State of New Jersey.
32. WE RESERVE THE RIGHT TO AMEND THESE TERMS AND CONDITIONS AT ANY TIME. THE AMENDED VERSION WILL BE POSTED ON THIS WEBSITE AND WILL TAKE AFFECT IMMEDIATELY UPON POSTING. IF YOU USE THE WEBSITE AFTER THE NEW TERMS AND CONDITIONS HAVE COME INTO EFFECT, YOU WILL BE INDICATING YOUR AGREEMENT TO BE BOUND BY THE NEW TERMS AND CONDITIONS