TERMS & CONDITIONS
Please Review this document (“Terms and Conditions”) carefully. In order to qualify and be eligible to bid on the Vessel, a Bidder must accept the terms and conditions their Acknowledgment and Acceptance of these General Terms and Conditions of Sale.
- AUCTION DATE / PLACE / TIME:
The Auction (“Auction”) shall be held as stated on Auction Page. The Auction will commence by the starting of the clock and will be performed by William Webb P.A. Company (Auctioneer”) in Partnership with Zwaans International Yachting Division (Yacht Brokerage).
- MANDATORY BIDDER PRE-REGISTRATION:
Pre-registration is required to become a qualified and eligible bidder (“Bidder”) at the Auction. To pre-register, a prospective Bidder must:
- Complete the Bidder Registration Form providing Bidder’s full name, company name, if any, residence/business addresses with telephone numbers, cellular telephone number, email address, the name(s) and/or entity in which the Bidder will take title to the Property, and other qualifying information listed on the form
- Submit an electronic acknowledgment that the Bidder has read and agrees to be bound by these General Terms and Conditions
- SUCCESSFUL BID, TOTAL PURCHASE PRICE (BUYER’S PREMIUM), ESCROW DEPOSITS:
- If the Seller, by and through the Yacht Broker/Auctioneer, accepts a bid (“Successful Bid”) for the Vessel, then the successful Bidder will be required to purchase the vessel at the Hammer Price.
- An Escrow Deposit in the amount 10% of the Total Purchase Price is to be paid to the auction company escrow account, via wire transfer. Said wire transfer to be initiated no later than 24 hours after the Hammer.
- The amount of (i) the Successful Bid AND (ii) 5% of the Successful Bid (“Buyer’s Premium”), added together, will be the Total Purchase Price (“Total Purchase Price”) for the Vessel to be purchased by the Buyer under the
- CLOSING AND PAYMENT OF TOTAL PURCHASE PRICE:
- The Closing (“Closing”) will be on or before the date in auction advertisement. The Closing will be coordinated through the offices of the participating Yacht Brokerage or our partners Zwaans International.
- The Total Purchase Price will be due and payable by Buyer at Closing by Wire Transfer of immediately available funds, pursuant to written instructions from the Escrow Agent/Settlement Agent. Buyer shall receive credit for the Initial Escrow Deposit, upon clearance, which shall be released from escrow and applied by the Escrow Agent/Settlement Agent towards the Total Purchase Price.
- Time shall be of the essence as to Buyer’s obligations in these General Terms and Conditions
- The vessel to be auctioned is described as stated on Auction Page.
- Survey and Sea Trials
Seller will furnish a Survey by a well known and competent Marine Surveyor to assist the Bidder in making an educated Bid in the Auction Process. William Webb P.A. makes no warranties or guarantees to the condition of the vessel. Bidder is encouraged to perform their own due diligence in the form of Surveys and Sea Trials at their expense. All vessel are sold AS IS, WHERE IS.
- BUYER’S ACKNOWLEDGEMENTS:
- The sale of the Vessel is an “All Cash” transaction and shall not be subject to any financing, other contingencies, or post due
- The Seller, William Webb P.A and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other vessel listing or advertising or promotional/publicity statements and materials. The Seller, William Webb P.A. and their representatives, attorneys, agents and sub-agents, make no representation or guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and materials. Neither William Webb P.A., nor the Seller has any obligation to update this information. William Webb P.A., nor the Seller, their Agents and Sub-Agents, attorneys, Escrow Agent/Settlement Agent, representatives, members, managers or affiliates has any liability whatsoever for any oral or written representations, warranties, or agreements relating to the Vessel except as is expressly set forth in these terms and Conditions
- The Vessel is sold in its “AS IS AND WHERE IS” condition and with all faults and defects, with no representations or warranties, express or implied. All Bidders are encouraged to inspect the vessel prior to placing any bid at the Auction and the Successful Bidder, as Buyer, acknowledges that it has had a reasonable opportunity to inspect and examine all aspects of the vessel and make inquiries of applicable governmental authorities pertaining to such matters in connection with the Property as Buyer has deemed necessary or desirable prior to the Auction.
- Competitive bidding is an essential element of an Auction sale, and such a sale should be conducted fairly and openly with full and free opportunity for competition among bidders. Any conduct, artifice, agreement, or combination the purpose and effect of which is to stifle fair competition and chill the bidding, is against public policy and will cause the sale to be set aside. Collusion / Bid Rigging is a Federal Felony punishable by imprisonment and William Webb P.A. will report all illegal conduct to the F.B.I. and cooperate with any prosecution.
- The Property may be withdrawn from the Auction at any time without notice and is subject to prior offers
- Seller, in its absolute sole discretion, reserves the right to amend, negotiate, modify, or add any terms and conditions to these General Terms and Conditions of Sale, the Contract and to announce such amendments, modifications, or additional terms and conditions at any time, including from the Auction
- The highest bid shall be the Successful Bid only if same is acceptable to and accepted by Seller, by and through the Yacht Broker/Auctioneer at the Auction, and as evidenced by Seller and the Successful Bidder, as Buyer, each executing the
- Back-up bids will be recorded and received by Seller in Seller’s absolute discretion. Should the Property not close with the Buyer or should the Buyer not comply with any term or condition of any document executed by Buyer in connection with the Property, the Seller will have the option, but not the obligation, to pursue back-up
- If you are unsure about the condition of the vessel, do not place a bid or participate in the Auction. Review of the survey and conducting your own survey and sea trial is recommended all of the terms and conditions as well as a review of the vessel before making any bids is strongly recommended and you will be deemed to have done so on execution of these General Terms and Conditions of
- The fall of the hammer and/or the term “Sold” as stated by the Broker/Auctioneer upon the acceptance of the Purchaser’s bid at the close of the Auction is an acknowledgment that such bid is the highest bid, at which time it became a binding agreement to purchase the Vessel. Whether such bid is accepted is subject to this Agreement, including any announcements made by the Broker/Auctioneer. Thereafter, you may not withdraw your bid and you are obligated to execute the Purchase.
All announcements from the Auction Block at the Auction shall supersede and take precedence over all previously written or printed material and any other oral statements made; provided however that the Broker/Auctioneer shall not be authorized to make any representation or warranty (express or implied) with respect to the Property. The Broker/Auctioneer has the sole and absolute discretion to make any announcements at the Auction, including but not limited to any announcements that may amend or alter the auction terms, conditions, or procedures that were previously set forth in written materials. In the event of a dispute over the bidding process, the Broker/Auctioneer shall make the sole and final decision and will have the right either to accept or reject the final bid or re-open the bidding. Bidding increments shall be at the sole discretion of the Broker/Auctioneer.
- ONLINE BIDDING:
Real Time Online Bidding will be accepted, subject to all terms and conditions of the Auction.
- DEFAULT: If the Bidder doesn’t buy the vessel for whatever reason after winning the auction they shall pay 10% of the hammer price to Auctioneer. If this amount is not received within one week of auction close Buyer will be in Default. In the event of litigation to enforce this agreement buyer agrees to Treble damages based off 10% of the Hammer Price.
All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the vessel survey and sea trials and records. Neither the Seller, nor William Webb P.A. nor, it’s Agents and Sub-Agents makes any representation or warranties as to the accuracy or completeness of any information provided.
- BROKER PARTICIPATION:
Five Percent (5%) of the Difference Between the Hammer Price and Auction Fees will be paid to a qualified Licensed Yacht Broker who brings a seller to auction their vessel. Five Percent (5%) of the Difference Between the Hammer Price and Auction Fees will be paid to a qualified Licensed Yacht Broker (“Broker”) whose registered Buyer’s offer is accepted by the Seller and closes on the Vessel, provided the Broker is not prohibited by law from being paid such commission. To qualify for a commission, the Broker must first register their prospect on the MANDATORY YACHT BUYER BROKER PARTICIPATION REGISTRATION form. The form must be received by the office of William Webb P.A. no later than 48 hours before auction close. This registration MUST be sent to William Webb P.A, 2234 North Federal Hwy #2006 Boca Raton Fl,33431 Brokers may email to firstname.lastname@example.org NO LATE REGISTRATIONS WILL BE ACCEPTED. Commissions will be paid only after closing and after William Webb P.A. have been paid in full. Brokers are not required to attend the Closing. If a Broker has not met all of these requirements, no commission will be paid to the Broker, even if the Broker’s prospect purchases the Vessel. No oral registrations will be accepted. Under no circumstances whatsoever will any commission be paid if the sale does not close for any reason.
- FINAL BID PRICE:
The final bid price for the Vessel shall be determined by competitive bidding at the Auction. The Property is being sold to the Highest and Successful Bidder.
- ACKNOWLEDGMENT AND ACCEPTANCE:
The Undersigned Bidder acknowledges receipt of a copy of these General Terms and Conditions of Sale, and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby. The opt-in and from submission will be treated and considered as an original signature.
- INDEMNIFICATION: Buyer shall defend, indemnify, and hold harmless Seller, William Webb P.A., its officers, directors, employees, and agents, from and against any and all claims, demands, causes of action, costs, liabilities, losses, damages, and expenses (including reasonable attorneys and expert witness fees and expenses) (collectively, “Claims”), and by whomever brought, to the extent arising out of or in any way related to (i) the sale of the Property, (ii) the performance of the parties’ obligations under this Agreement; (iii) the physical condition and quality (and express or implied representations regarding such condition and quality) of the Property or any portion thereof, (iv) any breach of these General Terms and Conditions of Sale, Governing Documents, or the Contract; (v) any claim arising from the sale of the Property; (vi) any claim arising from Buyer’s participation in the Auction; or (vii) any other act, omission or representation by Buyer.
- GOVERNING LAW /JURISDICTION/VENUE:
This Agreement shall be construed, enforced and governed by the laws of the State of Ohio, without regard to choice of law and similar doctrines. The parties consent to jurisdiction in the State of Ohio and venue, for any litigation arising out of this Agreement, shall lie exclusively in the courts of Franklin County, Ohio.
- WAIVER OF JURY TRIAL:
EACH PARTY TO THIS AGREEMENT HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED UPON THIS AGREEMENT OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER AGREEMENT CONTEMPLATED AND EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF DEALING, COURSE OF CONDUCT, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANYPARTY HERETO.
- ATTORNEY’S FEES:
If any action at law or in equity, including an action for declaratory relief, is brought to enforce or interpret any provision or provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees and costs, whether at the trial court and appellate level, in addition to all other costs associated with the action whether or not the action advances to judgment, in addition to any other relief to which that party may be entitled.
- ENTIRE AGREEMENT:
This Agreement embodies the entire agreement between the parties relative to the subject matter, and there are no oral or written agreements between the parties, or any representations made by either party relative to the subject matter, which are not expressly set forth herein. To the extent that any of the terms or provisions contained herein differs or conflicts with those contained within the Contract, the Contract shall control.
THE BIDDER ACKNOWLEDGES AND AGREES THAT THE BIDDER HAS READ ALL OF THE TERMS AND CONDITIONS AND EACH OF THE TERMS AND CONDITIONS CONTAINED IN THE GOVERNING DOCUMENTS AND AGREES TO BE BOUND TO SAME BY BIDDER’S OPT IN AND FORM SUBMISSION
AGREEMENT TO TERMS
The information provided on the Site is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Accordingly, those persons who choose to access the Site from other locations do so on their own initiative and are solely responsible for compliance with local laws, if and to the extent local laws are applicable.
The Site is not tailored to comply with industry-specific regulations (Health Insurance Portability and Accountability Act (HIPAA), Federal Information Security Management Act (FISMA), etc.), so if your interactions would be subjected to such laws, you may not use this Site. You may not use the Site in a way that would violate the Gramm-Leach-Bliley Act (GLBA).
The Site is intended for users who are at least 18 years old. Persons under the age of 18 are not permitted to use or register for the Site.
INTELLECTUAL PROPERTY RIGHTS
Unless otherwise indicated, the Site is our proprietary
property and all source code, databases, functionality, software, website
designs, audio, video, text, photographs, and graphics on the Site
(collectively, the “Content”) and the trademarks, service marks, and logos
contained therein (the “Marks”) are owned or controlled by us or licensed to
us, and are protected by copyright and trademark laws and various other
intellectual property rights and unfair competition laws of the United States, international copyright laws, and international conventions. The Content and the Marks are provided on the
Site “AS IS” for your information and personal use only. Except as expressly provided in these Terms
of Use, no part of the Site and no Content or Marks may be copied, reproduced,
aggregated, republished, uploaded, posted, publicly displayed, encoded,
translated, transmitted, distributed, sold, licensed, or otherwise exploited
for any commercial purpose whatsoever, without our express prior written
Provided that you are eligible to use the Site, you are
granted a limited license to access and use the Site and to download or print a
copy of any portion of the Content to which you have properly gained access
solely for your personal, non-commercial use. We reserve all rights not
expressly granted to you in and to the Site, the Content and the Marks.
If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof).
You may not access or use the Site for any purpose other than that for which we make the Site available. The Site may not be used in connection with any commercial endeavors except those that are specifically endorsed or approved by us.
As a user of the Site, you agree not to:
- 1. Systematically retrieve data or other content from the Site to create or compile, directly or indirectly, a collection, compilation, database, or directory without written permission from us.
- 2. Trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive account information such as user passwords.
- 3. Circumvent, disable, or otherwise interfere with security-related features of the Site, including features that prevent or restrict the use or copying of any Content or enforce limitations on the use of the Site and/or the Content contained therein.
- 4. Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Site.
- 5. Use any information obtained from the Site in order to harass, abuse, or harm another person.
- 6. Make improper use of our support services or submit false reports of abuse or misconduct.
- 7. Use the Site in a manner inconsistent with any applicable laws or regulations.
- 8. Use the Site to advertise or offer to sell goods and services.
- 9. Engage in unauthorized framing of or linking to the Site.
- 10. Upload or transmit (or attempt to upload or to transmit) viruses, Trojan horses, or other material, including excessive use of capital letters and spamming (continuous posting of repetitive text), that interferes with any party’s uninterrupted use and enjoyment of the Site or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Site.
- 11. Engage in any automated use of the system, such as using scripts to send comments or messages, or using any data mining, robots, or similar data gathering and extraction tools.
- 12. Delete the copyright or other proprietary rights notice from any Content.
- 13. Attempt to impersonate another user or person or use the username of another user.
- 14. Sell or otherwise transfer your profile.
- 15. Upload or transmit (or attempt to upload or to transmit) any material that acts as a passive or active information collection or transmission mechanism, including without limitation, clear graphics interchange formats (“gifs”), 1×1 pixels, web bugs, cookies, or other similar devices (sometimes referred to as “spyware” or “passive collection mechanisms” or “pcms”).
- 16. Interfere with, disrupt, or create an undue burden on the Site or the networks or services connected to the Site.
- 17. Harass, annoy, intimidate, or threaten any of our employees or agents engaged in providing any portion of the Site to you.
- 18. Attempt to bypass any measures of the Site designed to prevent or restrict access to the Site, or any portion of the Site.
- 20. Decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Site.
- 21. Except as may be the result of standard search engine or Internet browser usage, use, launch, develop, or distribute any automated system, including without limitation, any spider, robot, cheat utility, scraper, or offline reader that accesses the Site, or using or launching any unauthorized script or other software.
- 22. Use a buying agent or purchasing agent to make purchases on the Site