THIS SELLER SERVICE AGREEMENT (the “Agreement”) is made and entered into between Exclusive Racing, Inc. (“The Company”), and the owner of the Listing as registered on The Company Platform as Seller (the “Seller”). The Company and Seller agree as follows:
- Exclusive Listing and Exclusive Right to Sell Agreement. Seller hereby grants to The Company and The Company hereby accepts the exclusive and irrevocable right and privilege on behalf of the Seller to offer for sale the property listed and described on The Company website platform by Seller (the “Listing”). The term of this Agreement (the “Term”) shall begin on the date of execution hereof by Seller upon Listing creation and shall continue as per the listing period selected by Seller during creation of the Listing. The exclusive right granted herein shall include the exclusive right to list and sell the Listing by online auction and/or classifieds through the website platform found at: https://ExclusiveRacing.com/ (the “Website”).
- The “How It Works” Process, Services and FAQ Page(s) of the Website found at: https://ExclusiveRacing.com/ are incorporated herein by reference and are hereby made a part of this Agreement.
- Listings for Sale With or Without Reserve.
- Listings for Sale with Reserve (Including Hybrid Auctions). Should Seller choose a form of auction in which a minimum price at which the Listing may be sold (the “Reserve Price”) is established between the Seller and The Company, Seller hereby agrees that in the event the Listing receives a high bid or other offer at, or exceeding the Reserve Price, Seller shall be deemed to have accepted such offer and shall execute a sales contract with the high bidder or other offeror (the “Buyer”) relating thereto. In some rare cases, at the sole discretion of The Company, the Sales Success Fee may be adjusted by The Company should a bid fall short of the Reserve Price to facilitate the sale of the Listing. The Reserve Price shall be established between Seller and The Company prior to the commencement of the auction.
- Listing for Sale Without Reserve. In the event that Seller chooses a form of auction without a Reserve Price, Seller hereby agrees that the Listing shall be auctioned “absolute, without reserve,” so that Seller shall be deemed to have accepted the highest bid from a qualified bidder or other offeror without limiting condition as to the amount of the high bid or other offer or the nature of the Buyer and shall execute a sales contract with the Buyer relating thereto.
- Listings for Sale with a Buy Now price (Including Hybrid Auctions). Should Seller choose a form of auction and/or classifieds in which a buy now price at which the Listing may be sold (the “Buy Now Price”) is established between the Seller and The Company, Seller hereby agrees that in the event the Listing receives an offer at, or exceeding the Buy Now Price, Seller shall be deemed to have accepted such offer and shall execute a sales contract with the offeror (the “Buyer”) relating thereto. In some rare cases at the sole discretion of The Company, a portion of the proceeds may be paid to the buyer by The Company should an offer fall short of the Buy Now Price. The Buy Now Price shall be established between Seller and The Company prior to the commencement of the auction.
- Seller may choose between the following forms of auctions to list Seller’s Listing for sale on the Website: Reserve Auction, No-Reserve Auction, Classifieds with Buy Now/Make Offer and Hybrid Auction. Seller agrees to pay to The Company, as compensation, as per the Process and FAQ pages in the “How It Works” section of the Website found at: https://ExclusiveRacing.com/ are incorporated herein by reference and are hereby made a part of this Agreement, and per the selections made by Seller during Listing creation. Said amounts will be retained by The Company as part of The Company’s compensation. Seller acknowledges that any amount mentioned therein as compensation shall not be returned to Seller in the event the Listing fails to sell on the Website.
- Seller’s Obligations. Seller agrees to provide to The Company all information requested by The Company with respect to the Listing prior to the approval of the Listing being listed for sale on the Website. Seller understands that upon the Listing’s approval by The Company, the Listing will be listed on the Website for a period as selected by Seller during Listing creation. Seller agrees that Seller will not interfere with the sale of the Listing during the listing period and will not enter into any other transaction concerning the Listing after the approval for sale on the Website. Seller is prohibited from having their Listing listed for sale on any other digital or print format during the listing period. Seller agrees to not interfere with, prevent or prohibit The Company in any manner prior to or during the listing period, from carrying out its duties and obligations under this Agreement. The Company reserves the right to accept offers on the Sellers behalf if the offer is equal to or greater than the Reserve Price or Buy Now Price as set by Seller. Seller has seventy-two (72) hours to respond to submitted offers.
- THE COMPANY’S OBLIGATIONS; DISCLAIMERS. THE WEBSITE IS A PUBLIC VENUE WHERE PERSONS CAN SELL AND BUY PROPERTY. UNLESS OTHERWISE EXPRESSLY STATED BY THE COMPANY, THE COMPANY IS INVOLVED ONLY AS A FACILITATOR IN THE TRANSACTION BETWEEN BUYERS AND SELLERS. AS A RESULT, THE COMPANY HAS LIMITED CONTROL OVER THE ITEMS LISTED FOR AUCTION, INCLUDING, WITHOUT LIMITATION, CONTROL WITH RESPECT TO QUALITY, SAFETY OR LEGALITY OF ITEMS FOR SALE, TRUTH OR ACCURACY OF LISTING FOR SALE ITEMS, OR THE ABILITY OF BUYER(S) TO ENGAGE IN ANY TRANSACTION OVER THE WEBSITE. THE COMPANY CANNOT AND DOES NOT CONTROL WHETHER BUYERS WILL COMPLETE THE PURCHASE OR SALE OF ITEMS UPON WHICH THEY HAVE BID. BECAUSE USER AUTHENTICATION ON THE INTERNET IS DIFFICULT AND MANY TIMES IMPOSSIBLE, THE COMPANY CANNOT AND DOES NOT CONFIRM THAT EACH USER IS WHO HE OR SHE CLAIMS TO BE. UNLESS OTHERWISE EXPRESSLY SET FORTH HEREIN, THE COMPANY’S SOLE DUTY SHALL BE TO USE COMMERCIALLY REASONABLE EFFORTS TO EFFECT A SALE OF THE LISTING DURING THE TERM OF THIS AGREEMENT, WITH THE UNDERSTANDING THAT THE COMPANY MAKES NO WARRANTY OR GUARANTY IN CONNECTION WITH