Marketplace Agreement


Last Revised: 22nd March 2021

PLEASE READ THIS AGREEMENT CAREFULLY, AS IT CONTAINS IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS AND REMEDIES.

1. OVERVIEW

This iNET Marketplace Agreement (this “Agreement”) is entered into by and between iNET B.V., a Dutch limited liability company, its affiliates and subsidiaries ("INET") and you, and is made effective as of the date of electronic acceptance. This Agreement sets forth the terms and conditions of your use of INET’s Marketplace services (“INET Marketplace” or the “Services”).

Your electronic acceptance of this Agreement signifies that you have read, understand, acknowledge and agree to be bound by this Agreement, along with INET’s Universal Terms of Service Agreement, which is incorporated herein by reference.

The terms “we”, “us” or “our” shall refer to INET. The terms “you”, “your”, “User” or “customer” shall refer to any individual or entity who accepts this Agreement. Nothing in this Agreement shall be deemed to confer any third-party rights or benefits.

INET, in its sole and absolute discretion, may change or modify this Agreement, and any policies or agreements which are incorporated herein, at any time, and such changes or modifications shall be effective immediately upon posting to the INET website (this “Site”). You acknowledge and agree that (i) INET may notify you of such changes or modifications by posting them to this Site and (ii) your use of this Site or the Services found at this Site after such changes or modifications have been made (as indicated by the “Last Revised” date at the top of this page) shall constitute your acceptance of this Agreement as last revised. If you do not agree to be bound by this Agreement as last revised, do not use (or continue to use) this Site or the Services found at this Site. In addition, INET may occasionally notify you of changes or modifications to this Agreement by email. It is therefore very important that you keep your account (“Account”) information, including your email address, current. INET assumes no liability or responsibility for your failure to receive an email notification if such failure results from an inaccurate or out-of-date email address.

2. DESCRIPTION OF SERVICES

The Services are provided to facilitate the buying and selling of currently registered domain names only, and not the purchase or sale of associated website content. INET provides a venue and a transaction facilitation process. INET is not an auctioneer or an escrow agent. INET is not the owner of the domain names listed on the website. As result, INET has no control over the quality, safety or legality of the domain names listed. Domain names listed may be withdrawn at any time by Seller or by INET.

You acknowledge and agree that your transaction will be handled by INET’s “Transaction Assurance” process. INET will remit payment of the purchase price, less the applicable commission and fees, to the Seller approximately 20 days after receiving funds from the Buyer, except in the event of a dispute or where the payment is suspected to be fraudulent.

For Domain Broker Service transactions, as part of INET’s “Transaction Assurance” process, INET will remit payment of the full agreed upon purchase price to the Seller within approximately 20 days after receiving funds from the Buyer, except in the event of a dispute or where the payment is suspected to be fraudulent, as determined by INET in its sole and absolute discretion.

By using INET's “Transaction Assurance” process, you authorize INET to perform tasks on your behalf in order to complete the transaction. INET will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make funds available to its creditors in the event of bankruptcy or for any other purpose. You acknowledge and agree that INET is not a bank, and the “Transaction Assurance” process is a payment processing service rather than a banking service. You further acknowledge and agree that INET is not acting as a trustee, fiduciary, or escrow agent with respect to your funds.

INET is not responsible and disclaims all liability in the event that the domain name transaction fails to complete due to breach by the Buyer or Seller or failure of the Buyer or Seller to complete the transaction. Buyer does not obtain any rights in the registration of a domain name until completion of the transaction.

You acknowledge and agree that we may, in our sole discretion, extend the length of the auction if bids are submitted in the final moments of the auction, to allow potential buyers the opportunity to bid prior to the end of the auction.

We reserve the right to screen domain names prior to listing and we may exclude, in our sole discretion, any domain name for any reason, including, but not limited to: a) violation of this Agreement or the Universal Terms of Service; or b) infringement, or potential infringement, of a third party intellectual property right.

Gift cards may not be used to purchase auctions or marketplace items.

FOR THE PURPOSE OF FACILITATING THE CHANGE OF REGISTRANT INFORMATION DURING AND AFTER THE SALE OF ANY DOMAIN NAME, WHETHER AS BUYER OR SELLER, AND IN ACCORDANCE WITH ICANN'S CHANGE OF REGISTRANT POLICY, YOU AGREE TO APPOINT INET AS YOUR DESIGNATED AGENT FOR THE SOLE PURPOSE OF EXPLICITLY CONSENTING TO MATERIAL CHANGES OF REGISTRATION CONTACT INFORMATION ON YOUR BEHALF. “DESIGNATED AGENT” MEANS AN INDIVIDUAL OR ENTITY THAT THE PRIOR REGISTRANT OR NEW REGISTRANT EXPLICITLY AUTHORIZES TO APPROVE A CHANGE OF REGISTRANT REQUEST ON ITS BEHALF.

3. YOUR OBLIGATIONS (SELLER AND BUYER)

You agree to thoroughly, accurately and honestly complete all forms and requests for information provided by INET throughout the process. You agree INET will not be responsible for any false or misleading information you provide, whether intentionally or unintentionally.

You agree to notify INET within five (5) business days when any of the information you provided as part of the listing/buying process changes. It is your responsibility to keep this information in a current and accurate status. Failure by you, for whatever reason, to provide INET with accurate and reliable information on an initial and continual basis, shall be considered a material breach of this Agreement. Failure by you, for whatever reason, to respond within five (5) business days to any inquiries made by INET to determine the validity of information provided by you, shall also be considered a material breach of this Agreement.

4. PROVISIONS SPECIFIC TO SELLING/LISTING DOMAIN NAMES

You may use the Services to list domain names to which you have ownership rights for sale and are able to transfer in accordance with your obligations under this Agreement. By using the Services for such purposes, you represent and warrant that:

  1. You have all rights, titles and interests in the domain name necessary to complete the transaction;
  2. You have the ability to transfer the domain name free and clear of any obligations, liabilities, liens or encumbrances;
  3. The domain name does not infringe on the intellectual property rights of anyone else; and
  4. You have the right to transfer the domain name in accordance with your obligations under this Agreement.

You further agree the domain name is not currently or will not in the foreseeable future be associated with a Uniform Dispute Resolution Policy dispute or other such litigation. In the event you are unable to comply or fail to comply with your obligations under this Agreement, INET expressly reserves the right to delist any or all of your domain names immediately upon INET becoming aware of your failure to comply.

You may list your domain name for any duration offered on the site. You agree to pay the listing fee associated with the duration period you choose at the time of the listing. You may choose to supplement the listing with various additional services such as Additional Category listings, Featured Category listings, or Buy Now options. By using the additional services, you agree to pay any additional charges that INET may associate with the additional services. INET reserves the right to modify its pricing structure at any time. If you find a Buyer using the Services, the transaction must be completed within the Services. For each transaction completed within the Services, you agree to pay INET a transaction fee. Such transaction fee will be payable directly to INET unless the transaction is processed using a third-party escrow service, in which case all fees will be paid to such third-party escrow service. In addition to any transaction fees, you agree to pay INET or the third-party escrow service, as the case may be any intermediary or other banking fees charged by Buyer’s banking institution in connection with the transaction in question.

You agree not to sell any domain name to any Buyer found through the Services without using the Services to complete the transaction. Should INET find that you are circumventing the Services, INET reserves the right to terminate your account and cancel all of your listings.

You acknowledge and agree that country code top level domain names (“ccTLDs”) may have unique eligibility requirements. Accordingly, before you sell or list any ccTLD via INET Marketplace, you should review the applicable registry rules, policies, and agreements for the ccTLD in question to ensure that you are in compliance with all eligibility requirements (including those listed in the Domain Name Registration Agreement, if any) and will be able to transfer the domain name upon a successful purchase or bid on INET Marketplace.

As a Seller, you are not allowed to bid on any domain names you have listed. If you bid or have someone else bid on a domain name that you have listed, your listing will be removed from the site and administration fees may be assessed per listing. Your account will be locked while we investigate you for “Inappropriate Bidding”, which is defined as the act of bidding on your own listing against other bidders, or bidding by individuals who have knowledge of or access to Seller’s item information, in order to raise the price at which your item will eventually sell. Inappropriate Bidding is strictly forbidden and INET will take all actions INET deems appropriate in the event INET detects Inappropriate Bidding.

As a Seller, you are obligated to complete the transaction if Buyer commits to purchase the domain name through a fixed price, Buy Now format, or if Buyer meets or exceeds the minimum bid or reserve price. Should you fail to complete the transaction for any reason (including, but not limited to, failing to move the domain name to INET’s account if Buyer commits to purchase the domain name through a fixed price, Buy Now format, or if Buyer meets or exceeds the minimum bid or reserve price), INET reserves the right to (i) charge you a fee or (ii) terminate your account with INET (as determined by INET in its sole and absolute discretion). Should you elect to use the “Push to Auction” feature you will be unable to cancel the sale of your domain name, and must accept the initial “offer” if no other bids are made once the domain name is listed on Auction. By receiving payments through the Services, you appoint INET as your agent to receive and deposit funds on your behalf.

The amount initiated and posted to the deposit account(s) will represent payment for domain names sold using the Services, less any applicable fees and/or chargebacks. Payments can be cancelled or suspended at any time due to chargebacks or suspicion of fraud. In order to receive Payments you will need to set up a payee and assign it to your INET account.

You may be required to provide information including, but not limited to, that which relates to tax or confirms your identity in order to comply with all applicable laws based on the country indicated in either the contact or payment sections of your payee account during setup.

You hereby authorize INET to initiate and post entries to the deposit account(s) that you designate, both (i) credit (positive) entries for payments and (ii) debit (negative) entries to reverse erroneous payments and/or make adjustments to incorrect payments. The authority granted to us by you or the deposit account owner(s) will remain in full force and effect until we or the depository institution have received written notification from you or the deposit account owner(s) that such authority has been revoked or until the termination of your INET account.

You acknowledge and agree that payments may take 1-5 business days to be posted to the deposit account once they are initiated, depending on the payment method and currency selected. INET expressly disclaims any liability or responsibility regarding the same. The issuer of your payment method or an intermediary may charge you additional fees to receive funds. Please check with the issuer of your payment method for details.

If the domain name sold is not registered with INET, INET will initiate the payment of proceeds approximately twenty (20) days after receipt of Buyer’s funds. In either event, you acknowledge and agree that there may be a delay of several days between the time that INET initiates the payment of proceeds and the time that the proceeds are actually posted to the deposit account, and INET expressly disclaims any liability or responsibility regarding the same.

The authority granted to INET by the deposit account owner herein will remain in full force and effect until INET has received written notification from the deposit account owner that such authority has been revoked, but in any event, such writing shall be provided in such a manner as to afford INET a reasonable opportunity to act on such revocation, or until INET has sent notice to terminate this Agreement.

In the event of a payment chargeback, INET will deduct the amount of the Payment from Seller’s Payment Method on file. In the event that chargeback experience is high, as determined by INET, INET reserves the right to hold back twenty percent (20%) of all Seller’s Payments for ninety (90) days from the date the Payment was to be paid.

INET will not release the domain name to Buyer until receipt of confirmation that the funds have been verified.

5. PROVISIONS SPECIFIC TO PURCHASING/BIDDING ON DOMAIN NAMES

All bids and purchases are subject to the Bid/Buy/Offer Agreement, which is hereby incorporated by reference. As a Buyer, you are obligated to complete the transaction if you purchase the domain name through a fixed price, Buy Now format, or if you are the highest bidder at the end of an auction and your bid meets or exceeds the minimum bid or reserve price. Should you fail to complete the transaction for any reason (including, but not limited to, failing to pay the purchase price if you purchase the domain name through a fixed price, Buy Now format, or if you are the highest bidder at the end of an auction and your bid meets or exceeds the minimum bid or reserve price), INET reserves the right to (i) charge you a fee or (ii) terminate your account with INET (as determined by INET in its sole and absolute discretion).

Sellers who list their domain name as an “Offer/Counter Offer” may, once an offer is made, use the “Push to Auction” feature, to convert their domain name listing to an Auction listing. If Seller utilizes that feature on your offer, your offer will become the first bid on that listing. If no other (higher) offer is made, you will be deemed to be the purchaser of that domain name. If your offer is not “accepted” for the “Push to Auction” feature, you will be notified and have the option of bidding on that domain name on the Marketplace site. You acknowledge some listed domain names may be subject to an additional renewal fee. For those domain names, the renewal fee will be added to your bid or Buy Now price to form the purchase price. You agree by completing the transaction, you are responsible for payment of the renewal fee. INET may in our sole discretion require you to tender payment to us in a manner of our choosing, including but not limited to credit card or wire transfer. Once you send payment, INET will hold those funds for a prescribed period of time based on the type of transaction, at which time INET will remit the payment to Seller. At no time will you be able to withdraw those funds or send the funds to another recipient unless the initial transaction is cancelled. Should Seller refuse payment, the funds, minus the administration fee as outlined in the pricing structure, will be returned to you. You agree INET is not responsible for payments refused by Seller. For Expired Auctions, INET will obtain the funds first by the Payment Method you have designated. If there are insufficient funds or invalid credit card information, INET may obtain the remaining funds by charging any Payment Method you have on file. In the event of a charge reversal or chargeback by a credit card company or other payment provider, or if we determine in our sole discretion that we are unable or unlikely to collect payment, any associated domain registration will immediately terminate and/or the domain name registration will be transferred to INET as the paying entity for the registration. INET may, in our sole discretion, award the reclaimed domain name to the next highest bidder in the relevant auction and charge such bidder their highest bid amount, or make the domain name subject to a new auction among bidders determined by INET, or otherwise dispose of the name.

You acknowledge and agree that INET may publish your unique bidder number once an auction in which you have participated has been closed or ended. As a Buyer, you are responsible for ensuring that your use of the domain name does not infringe on third-party rights or any relevant laws or regulations.

Some domain name listings may include traffic data (“Traffic Data”) and a valuation amount ("Valuation"). The Traffic Data and Valuation are provided “AS IS” and are for informational purposes only. The Traffic Data and Valuation both reflect internally calculated data and do not represent a guarantee of continued traffic or actual value of the domain name.

You agree not to purchase any domain name found through the Services without using the Services to complete the transaction. Should INET determine (which determination shall be made by INET in its sole and absolute discretion) that you are circumventing the Services, INET reserves the right to terminate your account and cancel all of your listings.

You acknowledge and agree that ccTLDs may have unique eligibility requirements. Accordingly, before you purchase or bid on any ccTLD via INET Marketplace, you should review the applicable registry rules, policies, and agreements for the ccTLD in question to ensure that you are in compliance with all eligibility requirements (including those listed in the Domain Name Registration Agreement, if any) and will be able to register the domain name upon a successful purchase or bid on INET Marketplace.

Under all circumstances, a Seller is prohibited from bidding on his or her own listing. Additionally, “Shill bidding” is strictly prohibited. Shill bidding is bidding by anyone—including the Seller, family, friends, roommates, employees, or online connections—that artificially increases a domain name’s price or apparent desirability. Violations of the above policy may result in the following actions being taken by INET, including: * Listing cancellation * Account suspension * Referral to Law Enforcement.

6. INET EXPIRED DOMAIN NAMES

From time to time, INET may list domain names which have entered into an expiration period for their original registration (“Expired Domain Names”). Expired Domain Names will be clearly marked on the site. These Expired Domain Names may be listed on the Site on the date of their expiration, however, no sale will be final until forty-five (45) days after the date of expiration. During the redemption period, as described in the Domain Name Registration Agreement, the original registrant has the right to reclaim the Expired Domain Name. By bidding on the Expired Domain Name, Buyer acknowledges and agrees that if Buyer has the winning bid, the transfer of the Expired Domain Name will not be completed until after the expiration period is complete. Buyer further acknowledges and agrees INET shall not be obligated to offer a third-party escrow service to facilitate transactions involving Expired Domain Names. If the Expired Domain Name is reclaimed by the original registrant, INET will refund the full purchase price. Buyer acknowledges Expired Domain Names must be renewed upon purchase. A one (1) year renewal or transfer fee will be added to the purchase price for each Expired Domain Name purchased. The successful bid amount plus the one (1) year renewal or transfer fee (from the end of the domain name’s previous registration period), plus ICANN fee, if applicable, is due within forty-eight (48) hours of auction close any valid payment method associated with the account, will be charged on the third day following the auction close. If the winning bidder does not complete their purchase, you may be offered the Expired Domain Name for purchase. You must complete the purchase of the Expired Domain Name within twenty-four (24) hours of notification of the Expired Domain Name being offered to you. If you elect to purchase the Expired Domain Name, you acknowledge the Expired Domain Name must be renewed upon purchase. A one (1) year renewal fee will be added to the purchase price for each Expired Domain Name purchased. Your bid amount plus the one (1) year renewal or transfer fee (from the end of the domain name’s previous registration period), plus ICANN fee, if applicable, is due within twenty-four (24) hours of the notification of option to purchase the Expired Domain Name and if payment is not received within twenty-four (24) hours, INET may offer the Expired Domain Name to others for purchase. If the Expired Domain Name is reclaimed by the original registrant, INET will refund the full purchase price.

7. CHANGE OF OWNERSHIP

INET is not the owner of the domain names listed on the website and, accordingly, cannot guarantee immediate change of ownership from Seller to Buyer. If the domain name sold is registered with INET and eligible for transfer via INET’s COA process, change of ownership will begin upon completion of the check-out process and receipt of Buyer’s funds. For domain names that are registered with INET but designated as Expired Domain Names and listed using the Auction format, change of ownership will not be completed until forty five (45) days after the original date of expiration (approximately ten (10) days after the close of the Auction). For all Users to Marketplace and Auctions, payment is due within two (2) days from the close of the listing. For all Expired Domain Name auctions, payment is due within forty-eight (48) hours from the close of the auction.

To facilitate the change of registrant information associated with the listed domain names, and in accordance with ICANN’s Change of Registrant policy, Seller, at the time of listing the domain names, specifically authorizes and directs INET to act as its Designated Agent. As Designated Agent, INET will facilitate the transfer and change of domain name contact information for the sold domain names. As such, Seller grants INET the power to explicitly consent to the material change of registrant contact information to facilitate transfer of the sold domain names. Additionally, Buyer specifically authorizes and directs INET to act as its Designated Agent. As Designated Agent, INET will facilitate the transfer and change of domain name contact information for purchased domain names. As such, Buyer grants INET the power to explicitly consent to the material change of registrant contact information to facilitate transfer of the purchased domain names.

While Seller may use the Services to facilitate the selling of domain names that are not registered with INET, INET requires the Seller to transfer any domain names that are not registered with INET to INET upon receipt of a final/successful bid so the registrar of record for the domain name in question will be INET.

If the change of ownership from Seller to Buyer is not able to be completed (i) due to either party’s fraudulent activity or (ii) for any other reason, Buyer and Seller acknowledge and agree that INET shall have no liability or responsibility regarding the same. In all cases, whether the domain name in question is registered with INET or with another registrar, the change of ownership from Seller to INET is done without representation or warranty of any kind (including, but not limited to, any representation or warranty that a domain name does not infringe upon the intellectual property or other rights of a third party), and INET expressly disclaims any liability or responsibility regarding the same.

Please note that any domain name registered with INET may not be transferred away from INET to another registrar for a period of sixty (60) days following the change of ownership date.

8. INET’S RIGHT TO MONITOR

INET has no obligation to monitor the Services, but reserves the right to do so. INET reserves the right to edit the descriptions and comments on listings. You acknowledge and agree that INET shall have the right to make public and share with third parties certain information in connection with the sale or purchase of domain names on the website, including but not limited to (a) the name of the domain name sold or purchased, (b) the sale or purchase price of the domain name sold or purchased, and (c) information relating to the timing of the sale or purchase.

9. DISPUTE POLICY

Occasionally, a dispute might arise regarding a transaction begun or completed through the Services. In such instance, you agree to be bound by INET’s Dispute Policy. INET reserves the right to modify the Dispute Policy at any time, without notice.

Filing a Dispute

To file a dispute, you must submit an email to disputes@inetsystems.com. The email must include:

  • Your account number;
  • Your name and contact information;
  • The order number associated with the transaction;
  • The domain name over which the dispute arises; and
  • A detailed description of the dispute.

Such email must be received within two (2) days from the sale date.

Once a dispute has been received, INET will place the transaction into a “Hold” status while it investigates the dispute. INET reserves the right, in its sole discretion, to close any dispute it deems invalid or resolved. After investigation, INET will notify Buyer and Seller of the outcome of the investigation and complete or terminate the transaction as INET, in its sole discretion, deems appropriate.

INET reserves the right to charge an administration fee to cover the costs associated with investigation of a dispute. As such, you agree INET may charge an Administration fee to the Payment Method it has on file for you if a dispute is filed involving a domain name which you have listed or purchased through the Services. Should INET receive multiple complaints regarding transactions in which you are involved, INET, in its sole discretion, may cancel your account and terminate all listings you have.

In the event you have a dispute with one (1) or more users, you release INET, its affiliates, officers, directors, agents, subsidiaries, joint ventures and employees from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such dispute.

10. REMEDIES AND RIGHT TO CANCEL

Without limiting other remedies, if:

  1. You breach this Agreement or any document incorporated by reference;
  2. INET determines your actions may pose a risk to INET or its users; or
  3. INET determines your use of the Services infringes on the intellectual property or legal rights of others.

INET may immediately:

  1. Warn its users of your actions;
  2. Place a hold on any pending transactions associated with your account(s);
  3. Limit funding sources and Payments;
  4. Limit your access to your account(s) or to any functionality of your account(s); or
  5. Indefinitely suspend or close your account(s) and refuse to provide our Services to you.

In addition, INET reserves the right to hold funds beyond normal distribution periods for transactions it deems suspicious or for account(s) conducting high transaction volumes to ensure integrity of the funds. If INET closes your account(s), INET will provide notice and pay you all of the unrestricted funds in your account(s) due to you.

Also, where in INET's estimation, it believes you owe it money for any reason, INET reserves the right to offset any payments into your Account until INET is made whole.

11. TITLES AND HEADINGS; INDEPENDENT COVENANTS; SEVERABILITY

The titles and headings of this Agreement are for convenience and ease of reference only and shall not be utilized in any way to construe or interpret the agreement of the parties as otherwise set forth herein. Each covenant and agreement in this Agreement shall be construed for all purposes to be a separate and independent covenant or agreement. If a court of competent jurisdiction holds any provision (or portion of a provision) of this Agreement to be illegal, invalid, or otherwise unenforceable, the remaining provisions (or portions of provisions) of this Agreement shall not be affected thereby and shall be found to be valid and enforceable to the fullest extent permitted by law.

12. DEFINITIONS; CONFLICTS

Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Universal Terms of Service Agreement. In the event there is a conflict between the provisions of this Agreement and the provisions of the Universal Terms of Service Agreement, the provisions of this Agreement shall control.