DROPCATCH.COM MARKETPLACE FOR SELLERS (DCMFS) TERMS
Overview: DropCatch Marketplace for Sellers (DCMFS) is an online service which allows registered users of DropCatch to place their own Internet domain names for sale on the DropCatch Marketplace by listing domains in an auction style format. Customers who wish to list their domain names for auction must first be approved for the program. Once approved, customers may list their domains by logging into their DropCatch account and placing their domain names into an auction.
Beta: Currently, DCMFS is a closed beta program available by invitation only. If you are interested in selling domain names through DCMFS please contact DropCatch directly. Any user listing a domain name for sale on the DropCatch Marketplace through the DCMFS program is herein referred as the "Seller" or "Selling Party". The Seller will be solely responsible and liable for all domain names in which the Selling Party has listed for auction through the system. By listing a domain for sale on DropCatch Marketplace through DCMFS, a Selling Party expressly acknowledges that they have fully read, understood and agree to the following Terms & Conditions set forth hereinbelow for the DropCatch Marketplace and specifically for DCMFS.
Listing Domains: A Selling Party must provide DropCatch with a domain name or list of domain names that the Seller wishes to list for auction, along with the authorization code (or EPP code) for those domain names. Seller must further designate the desired starting price for the domain auction as well as the length of time the Seller wishes the auction to run in the DropCatch Marketplace. The Selling Party will not be required to provide an authorization code if the listed domain is registered to the Seller and located in the Seller's NameBright.com account. If the domain name is not registered with NameBright, the Selling Party will be required to unlock the domain name and provide DropCatch with a valid authorization code(s) for the domain(s).
DCMFS Seller Guarantees:
Seller Must Hold Ownership Rights: All domain name(s) listed at auction through DCMFS must belong to the Selling Party and the Selling Party must have full legal rights to own and sell the domain. The Seller agrees and affirms that it is the current Registrant of the domain name(s) being listed for sale. All domains listed at auction must be free and clear of any liens, disputes, or other issues that prohibit full sale, transfer, or legal ownership of the domain.
Prohibited Sales: Selling Parties are strictly prohibited from listing any domain for auction if that domain name is subject to any official investigation, legal proceeding, or other process that would prohibit the sale and transfer of the domain. This includes but is not limited to: civil or criminal subpoena; police or similar authority investigation; civil lawsuit; criminal legal proceeding; mediation; arbitration; Uniform Domain Name Dispute Resolution Policy (UDRP); or any other dispute, either threatened or pending, that would potentially affect the legal ownership of a domain and/or ability to sell such a domain name. By listing a domain for auction, the Selling Party expressly acknowledges that the listed domain is not subject to ANY dispute over the use or ownership of the domain. Selling Parties are prohibited from listing any domain names that would prohibit the sale and transfer of such domain(s).
Third Party Rights: By listing a domain name for auction, the Selling Party acknowledges that the domain name does not knowingly infringe on any third-party's legal rights, such as listing domain names that have clear trademark violations or anything similar in nature.
Auction Terms Are Final: All terms of the auction, chosen by the Selling Party when the domain is listed for auction, will be strictly adhered to. This includes, but is not limited to, the original minimum starting price, the reserve, and the time frame for the auction. The Selling Party may not alter, extend, or cancel any auction once an auction has an active bid.
All Auctions with Bids Are Final: Once a Selling Party has listed a domain name for auction, and that auction has a bid by a buyer which meets or exceeds any reserve price set on the domain, Seller will be prohibited from cancelling, terminating, or suspending the auction for the listed domain name. All sales resulting from auctions that have such bids are final, and Seller wholly agrees to sell all domain names that have a buyer's bid or a reserve that has been met.
Seller Waives Rights: Seller agrees that DropCatch, in its sole discretion, may suspend, interrupt, cancel, delete, terminate and/or undo an auction or completed domain sale. DropCatch has the sole authority to reverse payment for a domain or take any action on a Seller's auction as deemed necessary. In the event DropCatch receives notice and information that a domain listed for auction is subject to any type of valid dispute, third-party claim of fraud, abuse, mistake, technical error or glitch, or any other situation which requires intervention, DropCatch has the sole right and discretion to take whatever actions deemed necessary to uphold all rules, regulations, policies, and laws.
Termination of Listings: DropCatch reserves the right to terminate any auction for which it believes do not meet the DCMFS terms or violates the spirit of the DropCatch platform and/or the terms of the DCMFS contract.
Domain Escrow / Transfer of Ownership: In the event a domain name sells on the DropCatch Marketplace, DropCatch will manage the escrow and domain name transfer fulfillment process. Seller will be prohibited from using any third-party service for transferring ownership to Buyer and will be required to complete all transactions through DropCatch.com.
DropCatch Marketplace For Sellers Definitions:
Private Seller Listing: This is a domain name placed in auction by a Selling Party. The domain name ownership has been verified using the authorization code or registration through NameBright.
Dropped Auction Listing: This is a domain name placed in auction after DropCatch successfully acquires a backordered domain that has multiple backorders placed on it by DropCatch users.
Seller / Selling Party: The person or entity that is listing domain names for sale through this DCMFS agreement.
Buyer / Purchasing Party: The end user who is the highest bidder in a DCMFS auction.
Winning Bidder: The person who wins an auction by being the final and highest bidder in an auction.
Fraud / Chargebacks / Other Non-Payment Issues: In the event payment cannot be collected from the purchasing party, the auction will be voided, and the purchasing party's account will be suspended indefinitely from DropCatch.com and NameBright.com. By participating in an auction, all parties expressly agree that no sale is deemed final until funds are received from the Purchasing party and dispersed to the Selling Party, and the domain is successfully transferred to the Purchasing party. Should any party file a chargeback related to an auction on the Marketplace, the filing party will be immediately suspended from DropCatch and NameBright and banned from using any services. The domain will be transferred back to the Seller in the Seller's NameBright account and if any amount has been paid out for the sale, it will be reversed and immediately due and owing to DropCatch.
Auction Fulfillment / "Escrow":
Seller Non-Interference in Escrow: Once a listed domain has met the requisite reserve amount and at least a single bid is placed on a no-reserve auction, or an auction is completed, the Selling Party authorizes DropCatch and NameBright to immediately start the domain transfer process to the Buyer at NameBright and initiate the payment process through the DropCatch escrow account. Seller agrees that they will not interfere with the domain transfer process and Seller is strictly prohibited from engaging in behaviors that would impede the transfer of a domain, including but not limited to: changing the authorization code; locking the domain name; transferring the domain to another register; selling the domain via another venue; or any other behavior that might prevent the purchasing party from receiving the domain. Seller must act in good faith to facilitate the transfer within 5-days of closing of the auction and should issues arise, account suspension may occur due to the Suspension section listed in this agreement.
Approval of FOA: Selling Party agrees to approve any FOA emails that may be sent to the registrant email address listed on the Whois contact records once the transfer has been initiated. The FOA email must be approved immediately.
60-Day Lock: All parties agree that all domains bought and sold through auction on DropCatch Marketplace will be subject to a 60-day transfer lock at NameBright. This means that after the successful sale and transfer of a domain name to a Purchasing Party, the domain name cannot be transferred away from NameBright.com for any reason for 60 days. After the 60-day lock has expired, the Purchasing Party is permitted to transfer the domain(s) to another registrar if they wish.
Payments: DropCatch will disperse payments made by Purchasing Parties to Selling Parties of successful sales once a month and provide a list of all domains sold along with the commission breakdown, including the "Seller Fees" (transfer or renewal fees if applicable) which were applied to each auction. Calculation of payments will not occur until the auctioned domain has been fully paid for by the Buyer and the escrow process has been successfully completed.
Pricing, Transfers and Listing Fees: DropCatch will charge the Selling Party a 15.0% commission on all sold domains. This amount will be deducted directly from the Selling Party's monthly proceeds for their respective sold auctions. The Seller will further be charged any requisite transfer or renewal fees which will similarly be deducted from the Selling Party's monthly proceeds. An additional 5.0% fee will apply if the Selling Party elects to place a reserve on an auction. Additional fees might apply and charged to the Selling Party based on:
Transfer Fees: A transfer fee will only apply if the listed domain is registered at an external registrar (any ICANN accredited registrar other than NameBright.) Upon completion of an auction, the listed domain will be automatically transferred to NameBright. The associated transfer-in fee will automatically be deducted from the Seller's proceeds from the auction and the transfer will automatically add 365 days to the registration term of the domain. NameBright currently charges a transfer-in fee of $8.53 USD on a .COM domain.
Example: A .COM domain at an external registrar is placed into a no-reserve auction. The auction closes with one bid at $15.00, you will receive $5.50. Calculation is as follows ($15.00 - $8.53 x 85% = $5.50)
Renewal Fees: A renewal fee will only be applied if the listed domain is registered at NameBright and has 90-days or less remaining on the registration term at time of the closing date of the auction. NameBright currently charges $8.53 USD for renewal of a .COM domain name.
Example: A .COM domain at NameBright is placed into a no-reserve auction and it has 91 or more registration days remaining based on the end/closing date of the auction. The auction closes with one bid at $15.00, you will receive $12.75. Calculation is as follows ($15.00 - $0.00 x 85% = $12.75)
Example: A .COM domain at NameBright is placed into a no-reserve auction and has 90 or less days remaining on its registration (as determined by the end date of the auction.) The auction closes with one bid at $15.00, you will receive $5.50. Calculation is as follows ($15.00 - $8.53 x 85% = $5.50)
Transfer and Renewal Fees: All transfer and renewal fees (when applicable) are paid by the Selling Party and will be taken out of the Selling Party's proceeds for the auction prior to the proceeds being released to the Selling Party. Keep this in mind when selecting the minimum bid amount (see below.) The DCMFS Transfer and Renewal Fees are as follows:
.com … $8.53
.net … $10.50
.org … $11.97
.cc … $10.20
.tv … $26.00
Minimum Bid Amounts: All auctions on DropCatch Marketplace have minimum bid amounts that a Seller can list domain name(s) for sale starting at. The minimum prices are based on each different domain name extension as follows:
.com … $15.00
.net … $15.00
.org … $15.00
.cc … $15.00
.tv … $25.00
Account Suspension: Any and all violations of these terms of services will result in the immediate and indefinite suspension of the violating user's DropCatch.com and NameBright.com account(s). If DropCatch identifies user behavior deemed to violate the Marketplace Terms and Conditions or behaviors that abuse or otherwise misuse the auction process, DropCatch reserves the right to take any necessary action to protect the validity and integrity of DropCatch.com and the Marketplace. Possible infringements include, but are in no way limited to: a Selling Party lists a domain for which it is not the full and valid owner; a Selling Party lists a domain that is subject to a threatened or pending dispute or other legal proceeding; a Selling Party found to be engaging in unethical domain sales practices including but not limited to Shill Bidding, non-delivery of an auction with an End User bid, creating auctions with no intent to actually sell listed domains, or purposefully creating delays in the delivery of a completed auction on a sold or in-progress auction. It is also a violation to abuse the DropCatch system in any way to try and check and/or validate authorization codes. Such behaviors are stored for analysis by DropCatch. Depending on the severity of infraction, at DropCatch's sole discretion, the relevant NameBright account(s) can and will be suspended as well as with the DropCatch account. If for any reason, DropCatch deems action of any party to be harmful to the domain name marketplace, said user(s) will immediately be banned from DropCatch, DCMFS and NameBright.com.
Third Party Audit: From time to time, DropCatch may consult with third parties to examine the integrity of the auction platform. By using DropCatch.com and the Marketplace a user expressly consents to and agrees that DropCatch may share and disclose any personal information, bidding history, all platform behavior, and any other information you provide, including IP address, browsing behavior, etc. with a third-party to audit or periodically review operations.
Casing: DropCatch reserves the right to change the casing of the listed domain name at any time.
DCMFS Terms Modifications: DropCatch reserves the right to change the terms of the DCMFS program at any time. If and when done so such terms will be effective immediately and will be posted at https://www.dropcatch.com/OtherInfo/MarketplaceForSellers
Last Revised: October 24, 2018
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