Terms of Service

1Acceptance of Terms

These Terms of Service ("Terms") govern your access to and use of the HeavyBid website located at www.heavybid.com, including any related mobile applications, APIs, and services (collectively, the "Platform"). The Platform is operated by HeavyBid Inc., a Delaware corporation ("HeavyBid", "we", "us", or "our").

By accessing the Platform, registering an account, placing a bid, or listing equipment for sale, you agree to be legally bound by these Terms, our Privacy Policy, and any additional terms applicable to specific features of the Platform. These Terms constitute a binding legal agreement between you and HeavyBid.

2Eligibility

To use HeavyBid you must meet the following requirements:

• You must be at least 18 years of age.
• You must have the legal capacity to enter into a binding contract.
• You must not be subject to any legal prohibition on participating in online auctions in your jurisdiction.
• If registering on behalf of a company, you must have the authority to bind that company to these Terms.
• Your account must not have been previously suspended or terminated by HeavyBid.

HeavyBid reserves the right to deny access or terminate accounts that do not meet these eligibility criteria, at any time and for any reason, without prior notice.

3User Accounts

To access bidding features, you must create an account by providing accurate and complete information. You are responsible for:

• Maintaining the confidentiality of your login credentials.
• All activity that occurs under your account.
• Promptly notifying HeavyBid of any unauthorized use of your account.
• Keeping your account information accurate and up to date.

HeavyBid will not be liable for any loss or damage arising from your failure to protect your account credentials. You may not share, transfer, or sell your account to any third party.

4Auctions and Bidding

All bids placed on HeavyBid constitute a legally binding offer to purchase the listed item at the bid amount, subject to the auction's terms and conditions.

• Bids are irrevocable once submitted.
• The highest bidder at the close of an auction is obligated to complete the purchase.
• A buyer's premium, as stated on each listing, will be added to the winning bid amount.
• HeavyBid may cancel auctions or bids in cases of suspected fraud, technical errors, or seller withdrawal.
• HeavyBid reserves the right to set minimum bid increments for any auction.
• The use of automated bidding software or bots not provided by HeavyBid is strictly prohibited.

5Payments and Fees

Upon winning an auction, the buyer is required to complete payment within the timeframe specified in the listing (typically 3 business days). Payments are processed through HeavyBid's escrow system.

• Accepted payment methods include wire transfer and other methods listed at checkout.
• Funds are held in escrow until the buyer confirms satisfactory receipt of the equipment.
• Failure to complete payment within the required timeframe may result in forfeiture of the win, account suspension, and liability for any difference in resale price.
• A buyer's premium of 5% (capped at $15,000 per transaction) applies to all purchases.
• HeavyBid charges sellers a listing fee and/or seller's commission as set forth in the Seller Agreement.

6Seller Obligations

Sellers using the HeavyBid platform agree to the following obligations:

• All listings must accurately describe the equipment, including its condition, operating hours, serial number, and any known defects.
• Sellers must have legal title to all equipment they list and the right to sell it.
• Sellers must make the equipment available for third-party inspection upon request.
• Sellers are responsible for accurate export documentation and compliance with all applicable laws.
• HeavyBid may reject, remove, or modify listings that violate these terms or platform policies.

7Prohibited Uses

The following activities are strictly prohibited on the HeavyBid platform:

• Bid manipulation, shill bidding, or collusion with other bidders or sellers.
• Creating false or misleading listings or providing inaccurate equipment information.
• Attempting to circumvent escrow or conducting transactions outside of the platform.
• Using the platform for money laundering or any illegal financial activity.
• Interfering with the platform's technical infrastructure or security systems.
• Harassing, threatening, or abusing other users or HeavyBid staff.
• Scraping, data mining, or automated collection of content without written permission.

8Limitation of Liability

HeavyBid acts as a marketplace facilitator and is not a party to the underlying transaction between buyers and sellers. To the maximum extent permitted by applicable law:

• HeavyBid is not responsible for the condition, quality, or description accuracy of any listed equipment.
• HeavyBid's total liability to any user shall not exceed the fees paid by that user to HeavyBid in the six months preceding the claim.
• HeavyBid shall not be liable for indirect, incidental, consequential, or punitive damages.
• HeavyBid does not guarantee continuous, uninterrupted access to the platform.

9Termination

HeavyBid may suspend or terminate your account at any time, with or without cause, including for violations of these Terms. You may terminate your account at any time by contacting support. Upon termination, your right to use the platform ceases immediately, and any pending bids you have placed may be cancelled. Outstanding payment obligations remain in effect after termination.

10Dispute Resolution

All disputes arising from use of the HeavyBid platform shall be resolved as follows:

• First, through HeavyBid's internal dispute resolution process, which must be initiated within 14 days of the issue arising.
• If unresolved, disputes shall be submitted to binding arbitration under the rules of the American Arbitration Association.
• Arbitration shall take place in Houston, Texas, USA, in the English language.
• You waive any right to participate in a class action lawsuit against HeavyBid.

Notwithstanding the above, HeavyBid reserves the right to seek injunctive or other equitable relief in any court of competent jurisdiction.

11Changes to Terms

HeavyBid reserves the right to modify these Terms at any time. Changes will be communicated via email and/or a notice on the Platform at least 14 days before they take effect. Continued use of the Platform after the effective date of any changes constitutes your acceptance of the updated Terms. If you do not agree to the revised Terms, you must stop using the Platform before the effective date.

12Contact Information

For questions about these Terms, please contact us: