§ 1 General provisions

  1. These Terms and Conditions define the rules and conditions under which the Service is provided by the Operator for the price specified in the Price List, the rules and conditions of Purchass, Auctions and reverse auctions as well the conditions of the auctions of items offered by the Seller.
  2. These Terms and Conditions are an integral part of the Agreement mentioned in § 2 point 5, in particular of agreements for the purchase and sale of rights and items within the Service. The current revision of these Terms and Conditions is always available on the Main Page.
  3. Logging into the Service indicates your acceptance of the current revision of these Terms and Conditions pursuant to the rules specified in § 11 points 1-4 of these Terms and Conditions.
  4. When used in these Terms and Conditions the following terms shall have the following meanings:
    1. Terms and Conditions – this document;
    2. Operator – ICTBid Incorporated (the “Company”), a private company with limited liability.
    3. Seller – a private individual, a legal entity or an organizational entity without legal personality which, after going through the verification process and signing relevant agreements with the Operator, received the status of account holder from the Operator;
    4. Authorisation – the process of agreement verification and signing with the Operator ended in that the Operator has granted the status of the account holder pursuant to the procedure specified in § 3 below;
    5. Service – the on-line transaction services rendered by the Operator, under the www.ictbid.com domain, where the Operator organizes an Auction software and enables account holders to use it.
    6. Auction – the sale of items conducted under these Terms and Conditions, fully specified in §5;
    7. Bid – using the option of the Service enabling the indication of a wish to purchase or sell a particular item for a particular price offered on an Auction and offering a higher price by the Incremental Bid Amount than the Current Price, enabling the conclusion of a sale agreement for the item being the object of the Auction;
    8. System – the computer system providing the Service activity;
    9. User – a private individual or company with a full legal capacity who has reached the age of majority and registered with the Service who has correctly registered with the Service and has access to his/her Account. A person is identified by the first company name, surname, and other information available on the signup page.
    10. Remaining Time to the End of the Auction – time left to the end of the Auction excluding time essential for System maintenance and recesses in System operations;
    11. End of Auction – the moment when the Remaining Time to the End of the Auction has ended as marked by the System displaying the word “Finished” on the Auction Page;
    12. Account – a data managed by the Operator for the User under a unique name (Username), such data comprising the User’s personal data and his/her Account history within the Service. The data is displayed in the "MY ACCOUNT" tab;
    13. Auction Parameters – a set of individual data and features of a given type of Auction;
    14. Incremental Bid Amount – high offer made by a User at an Auction in progress;
    15. Confirmation – a notification sent via the internal messaging system accessible from the User Account, confirming the End of Auction and sent to the Auction Winner by the Operator according to the procedure defined in § 5 point 6 of these Terms and Conditions;
    16. Buy It Now or Auction Page – the page where the Buy It Now or the Auction of a particular item takes place. It includes the name of the item, its technical description, the price of the item for the Buy It Now Purchase given by the Seller in advance, as well as shipping fees and other costs typical of a given kind of purchase at the Buy It Now or an Auction;
    17. Starting Price – the initial price of the item offered by the Seller at the beginning of the Auction;
    18. Best Price – the price offered by the Current Winner. Where no User has placed a Bid yet and no Bid has been made by the Autobid, the Current Price equals the Starting Price;
    19. Purchase Price – the price defined by the Seller at which the User may purchase the item with the Choose Winner option or the price that the Auction Winner has placed as an offer for which he/she purchases or sells the auctioned item;
    20. Buyer of the Buy It Now – the User who has purchased an item with the Buy It Now option, pursuant to the rules specified in §4;
    21. Current Winner – the User who will become the Auction Winner as long as no other User has made a Bid or Autobid before the Auction finishes, pursuant to the rules in §5;
    22. Auction Winner – the User who has won the Auction pursuant to the rules in §5;
    23. Cookies – a piece of information stored by the server on the User's computer or other data terminal equipment in the text file. The computer’s server may read the cookie again while establishing connection as appropriate from that computer or other data terminal equipment.

§ 2 Registration

  1. Registration in the Service is free of charge with promocode and 100 USD a month via monthly payment option, 250 USD for the three-month package and 900 USD a year for the one year package. All done via paypal.
    1. The registration in the Service requires the acceptance of these Terms and Conditions. By registering, the User declares that he/she has read and accepted the content of the most recent version of these Terms and Conditions and all the rights and responsibilities resulting from these Terms and Conditions;
    2. Only private individuals with a full legal capacity who have reached the age of majority or legal companies have the right to register, provided that their agreement for the use of the Service was not previously terminated by the Operator because of the violation by them of law, the established custom, good practice and these Terms and Conditions;
    3. If the User whose agreement was previously terminated due to any of the reasons mentioned in 1.2. above is found to register again, the Operator shall block his/her Account immediately and Account will be forfeited as a penalty for repeated gross breach of the Terms and Conditions.
  2. In order to register it is necessary to complete the registration form, following the instructions posted on the Service pages.
  3. All the personal data given must pertain to the person or company ordering the service and be true. In particular, the company name, VAT, and address must match that shown on the identity card or another identity document. The Operator takes no liability for invalid data provided by Users in their Accounts. Amending the data after registration is only possible in justified cases and requires prior contact with the Operator. This restriction does not include shipping addresses, which can be modified directly by the User.
  4. Upon registration of an Account in the Service, an agreement is concluded between the entity being registered and the Operator, where the subject matter are the services provided by the Operator in the Service in accordance with the Terms and Conditions.
  5. The User may withdraw from the agreement mentioned in point 5 within the first 14 days without stating a reason by sending a relevant statement either by e-mail or letter. If the User has already taken part in promotions and any actions within the Service, he/she is not entitled to terminate the agreement.
  6. The Username must be unique to each Account.
  7. The User can have only one Account. Under special circumstances the Operator may allow an exception to this rule only upon written request of the User.
  8. The User is not allowed to use other Users' Accounts or let other persons use his/her Account. The Users of Related Accounts cannot participate in the same Auction.
  9. Accounts are non-transferable.
  10. In the Service there is no limit defining how many times the User may participate in the auction.
  11. The Operator reserves the right to verify and check User information during and after registration. If any inaccuracy is found, the Operator reserves the right to block the User's Account. This may take place, in particular, when any inaccuracy of the data of the entity being registered with the actual data is found.
  12. In the event of a change in the User's data, the User is obliged to update such information immediately, otherwise the Account may be blocked by the Operator.
  13. All and any actions of the User using the Service shall be in compliance with all applicable law, and in accordance with these Terms and Conditions as well as the established custom and good practice. In particular, the User may not use the Service to provide any content that infringes the law or recognized moral standards, or act in cooperation with other Auction participants or a third party in a way that influences the result of an Auction. In particular, the Users of Related Accounts are not allowed to participate in the same Auctions. The Operator shall notify the User in the event of behaviours considered to violate established custom and good practice. User actions contrary to these provisions can result in the blocking of the Account and cause termination of the agreement regarding the use of the Service, refusal of Confirmation and the penalty shall be imposed specified in § 5 point 14.
  14. The User should archive any information about transactions made through the Service on a data storage device for possible use in filing complaints. The failure to fulfil this obligation by the User constitutes that he/she accepts the archived transaction data provided by the Service.
  15. The User has the right to participate in competitions organized by the Operator whose rules will be defined in the Terms and Conditions of Competitions published on special sub-pages of the Service Website. The competitions are not games of chance as defined by relevant Cypriot gaming laws.
  16. The technical requirements necessary to use the Service include any graphical web browser with JavaScript enabled and encrypted connection using SSL protocol.

§ 3 Authorization. The Seller

  1. Only Sellers are authorized to list items for Buy It Now or Auctions held by the Service.
  2. The status of the Seller is granted to a private individual, legal entity, or organizational unit without legal personality that has received the Operator’s Authorization in accordance with the procedure specified below.
  3. The rules of selection and Authorization of the Seller:
    1. Filing of the Authorization application by sending it to the e-mail address: company@welmory.com;
    2. Verification of the application by the Operator;
    3. Acceptance or refusal of the application;
    4. Conclusion of the cooperation agreement in the case when the application has been approved.
  4. For private individuals, the application specified in point 3.1. above shall include the same information required to create an Account in the Service. For legal entities or organizational units without legal personality, it shall include their business registration information. The Operator reserves the right to request additional information or documentation in response to an application.
  5. The Operator reserves the right to decline the Authorization application from a private individual, legal entity, or organizational unit without legal personality without providing an explanation.
  6. Upon conclusion of the cooperation agreement between the Operator and a private individual, legal entity, or organizational unit without legal personality, the individual, entity, or unit in question is granted the status of a Seller and the right to list items for Buy It Now or Auctions in accordance with the rules specified in the agreement.

§ 5 Auctions

  1. Each Auction is conducted on the basis of the conditions specified in the Auction Parameters.
  2. An Auction begins when the Operator makes the Bid function for that Auction available on the Auction Page.
  3. The Starting Price is defined in the Auction Parameters.
  4. Bid placement rules:
    1. The User places Bids using the Pool of BIDs available on his/her Account by choosing the “Make an Offer” button located on the Auction Page or another page of the Service concerning the particular Auction;
    2. Placing Bids is possible any time
    3. After the beginning of the Auction the Service updates the Remaining Time to the End of the Auction with accuracy to one second;
    4. The Current Price is displayed on the Auction Page;
  5. The Auction Winner concludes with the Seller a sale agreement for the item Auction as specified in the Auction Parameters, upon Confirmation, for the Purchase Price. The agreement is not concluded when the Auction is cancelled in accordance with point 14 of this section.
  6. The conditions concerning the sales agreement, delivery, warranty and payment for the item as defined in point 7 of this section are included in § 7 of these Terms and Conditions.
  7. A User who has participated in the Auction is not entitled to retract Bids already placed. Participation in an Auction does not guarantee winning which depends solely on the participants taking part in the Auction.
  8. It is forbidden to use any software unauthorized by the Operator in order to participate in the Auction, place Bids or Autobids.
  9. The User can participate in an unlimited number of Auctions
  10. The number of Auctions won by the User as well as of all Auctions in which the User placed a Bid can be reviewed at the User's Account via the "MY ACCOUNT" tab.
  11. After the Auction finishes the Operator immediately verifies the Auction for technical regularity and compliance with the Terms and Conditions.
  12. The Operator reserves the right to invalidate the Auction if the User is found to have used software unauthorized by the Operator, or has violated the law, good practice (in particular through the cooperation with other Users or third parties that may manipulate the outcome of an Auction) or these Terms and Conditions, also in case of the breakdown of the System or of a technical error, which may also influence the result of the Auction. If this occurs, the Operator immediately informs all participants about the cancellation of the Auction via the internal messaging system accessible from the User Account, and returns all BIDs ,with the exception of the User referred to in the preceding sentence. Moreover, the Operator is entitled to block the Account of such a User, refuse Confirmation or inflict sanctions: forfeiture of all BIDs on the User's Account as a contractual penalty for the violation of the Terms and Conditions.
  13. In the case the Operator confirms the violation of law, good practice or the Terms and Conditions by a participant in the Auction while it is being conducted, the Operator also reserves the right to exclude such a User from the Auction by blocking this User's Account, the refusal of Confirmation, the application of a contractual penalty in the form of the forfeiture of the Pool of BIDs on this User's Account and the possible introduction of sanctions mentioned in § 10 points 1.1. and 1.2.
  14. If a breakdown or error mentioned above is found, and can be removed in a short time, the Operator will stop the Auction and eliminate the breakdown or error.
  15. The Operator may introduce special types of Auctions. Users will be informed about any such Auctions on the Auction Page and the Sign-in Page, or through other announcement. Any Auction features and rules differing from those defined in this section will be specified in the Help or FAQ pages.
  16. Operator and Seller employees and their family members of are strictly forbidden to participate in Auctions.

§ 7 Sale conditions

  1. The sale agreement is concluded between the User and the Seller. The Operator is not a Party to that sale agreement and only enables the Users to make sale agreements with the Seller on the basis of the rules described in these Terms and Conditions.
  2. The package with the purchased item can be sent by an entity acting in understanding with the auctioneer on the basis of a relevant agreement, which does not affect the rights and obligations of the User.
  3. The User after receiving the item must confirm the delivery.
  4. The Seller is not liable for any damage of items incurred during delivery or for the actions of the courier/postal service.

§ 8 Complaints

  1. If any service or other actions of the Operator are inconsistent with those defined in these Terms and Conditions, the User has the right to make a complaint.
  2. The Operator shall make every effort to maintain the proper and uninterrupted operation of the Service.
  3. All information concerning technical breaks, errors and breakdowns and the consequences resulting from such for each User shall be published on the Main Page, and in the way detailed in § 5 points 14 and 16.
  4. The User's Account may be blocked in cases specified in theses Terms and Conditions for the time necessary to verify the User's actions in compliance with the Terms and Conditions, to prevent any possible damage to other Users, third parties and to the Operator and to apply sanctions described in these Terms and Conditions.
  5. A complaint can be submitted by e-mail to the Operator's address at info@ictbid.com.
  6. The Operator s required to respond to the claim within 14 days via the internal messaging system, accessible from the User Account, or via e-mail.
  7. If the complaint requires additional information, the Operator sends the complaint back to the Seller to provide such information, and the time mentioned in the point above is extended as appropriate.

§ 9 Confidentiality. Privacy policy. Use of the Service data

  1. The Operator collects and processes Users' personal information in accordance with the law, the provisions of these Terms and Conditions, as well as the Privacy and Cookies Policy, as necessary for the purposes of performance and settlement of services under the agreement.
  2. The Operator will not reveal any personal data of the User to a third party without the User's express consent subject to the exceptions in points 3 and 4 below.
  3. The Operator may reveal personal data of the User to entities authorized to receive such data on the basis of the mandatory provisions of law.
  4. The Operator will provide the Seller with the Users’ personal data in order to implement and perform the provisions of these Terms and Conditions.
  5. All Users have the right to access their personal information. In particular, they can demand that it be amended, corrected, or removed.
  6. The Operator reserves the right to retain the User's data until such time that any debt towards the Operator is paid by the User or until all circumstances connected with the violation of the Terms and Conditions are explained and the User’s liability established.
  7. The Operator declares that Cookies are saved in the User’s computer when the Service is used. Cookies will be saved with the User’s consent. If the User does not accept this process, the User must not use the Service.
  8. Cookies do not change any configurations on the User’s computer, other data terminal equipment or software installed in that equipment.
  9. The content of Cookies does not allow the identification of the User. With the help of Cookies the personal data is not stored. The identification is conducted impersonally and impartially which concerns only the data on how the Service is used.
  10. The Operator stores Cookies on the Users' computers to:
    1. Maintain the User's connection (after logging-in);
    2. Verify the User’s identity;
    3. Adjust the Services to the needs of the Users better;
    4. Save the User's individual set-up and preferences;
    5. Verify the correctness of the Buy It Now and Auction processes.
  11. The Operator does not take liability for the contents of Cookies send by other websites to which the links are located at the Service Website.

§ 10 Termination of the Agreement

  1. Termination of the agreement
    1. The Operator is entitled to terminate the agreement for important reasons at any time, or, without stating a reason, with 14 days notice. The User is entitled to terminate the agreement at any time;
    2. The termination of the agreement by the Operator shall be executed by notifying the User via the internal messaging system. If the termination occurs without notice, for important reasons, the Account is immediately blocked, but the User may still send a complaint. If the agreement is terminated with notice, the Account is blocked and closed after the last day of notice;
    3. A User can terminate the agreement by filling out an appropriate form available from the Service website and sending it to the Operator's e-mail address, thereby starting the Account closure process; by clicking the "Close account" button in the “MY INFORMATION” tab of “MY ACCOUNT” and following the instructions provided therein; or by following the Account removal procedure described in the Help or FAQ pages.
  2. After the User has completed the process in accordance with point 1, the Operator sends to the User's e-mail address a notification of the receipt of Account removal request, containing a link to a Username and password verification page. After the confirmation of this information the agreement is terminated effective immediately, except:
    1. The User continues to participate in Auctions that began prior to the termination of the agreement, in accordance with the rules effective at the time those Auctions began;
    2. The User retains access only to those functions of the Account that enable the conclusion of the agreements with the Seller entered as a result of Buy It Now purchases and winning of Auctions that ended prior to the termination of the agreement, or Auctions that were in progress at the time of closing the Account, as specified in point 2.1.
  3. Terminating the agreement does not relieve both parties from the settlement of mutual obligations.

§ 11 Final Provisions

  1. The Operator has the right to introduce changes into these Terms and Conditions at any time. Updates will be posted on the Home Page, and the Users have the right and obligation to read these updated Terms and Conditions before the first log in after the changes. First logging-in constitutes the acceptance of changes in the updated Terms and Conditions.
  2. All and any changes herein are implemented in the time specified by the Operator on the Home Page and the login page.
  3. The User may indicate refusal to accept the new Terms and Conditions within 7 days from being notified of the changes at the first time logging in by sending an e-mail message to info@ictbid.com, which is equivalent to the termination of the agreement for the use of the Operator’s services.
  4. If the User wants to refuse to accept these Terms and Conditions as specified in point 3, has to refrain from participation in the Buy It Now or Auctions. Otherwise, the refusal to accept these Terms and Conditions becomes binding upon receipt by the Operator of the e-mail message with the refusal statement, subject to point 2.
  5. The matters not provided herein shall be governed by the provisions of the Cypriot Civil Code relevant provisions of current law.
  6. Any disputes between the parties shall be settled by a competent civilian court of law.
  7. In the case of any disputes or occurrence of the language variations between English and other languages, the English version shall prevail.