Vendor and Affiliate Terms and Conditions - EAMA Group

Welcome to EAMA Group (hereinafter referred to as "EAMA Group," a trading name of European Asset Management and Auction Group LTD). These Vendor and Affiliate Terms and Conditions (hereinafter referred to as "Terms") constitute a legally binding agreement between you, being either a vendor or affiliate, and EAMA Group concerning the sale of assets through our online auction events and participation in our affiliate program. Please carefully review these Terms before proceeding, as they govern your participation in our platform.

1. Sale of Assets
By listing assets for sale, you, as the vendor, affirm that you hold legal ownership of the stock or possess the necessary authority to conduct the sale. EAMA Group disclaims any liability for any misrepresentation regarding ownership or authority to sell.

2. Lot Descriptions and Photographs
Lot descriptions will be prepared based on the information provided by you, the vendor. It is your responsibility to ensure the accuracy of these descriptions.

3. Offer Acceptance
Upon the conclusion of the bidding process, payment requests will be issued to the winning bidders. Acceptance of these offers is confirmed upon the issuance of an invoice. A binding contract is formed between you, the vendor, and the successful bidder upon invoice issuance.

4. Buyer Default
In the event of buyer default, EAMA Group reserves the right to pursue various options, including extension of payment terms, sale cancellation, or legal recourse against the defaulter.

5. Collection by Purchasers
Buyers are responsible for collecting purchased items within the specified period, either through self-arranged pickup or delivery services provided by EAMA Group.

6. Information Provided
You, as the vendor, are responsible for providing complete, accurate, and reliable information regarding the assets offered for sale.

7. Terms of Sale
Sales conducted through our auctions are considered final, with no returns accepted. However, EAMA Group may require the return of items in cases of misrepresentation, with vendors expected to comply.

8. Non-Circumvention, Non-Disclosure, and Non-Competition
During and following the term of this agreement, both parties agree not to disclose financial information obtained through this agreement or engage in activities that circumvent or compete with the business interests of EAMA Group.

9. Vendor Fees
Vendor fees for utilising our marketplace services are charged at up to 20% of the hammer price plus VAT. The exact fee will be communicated in writing by your account manager.

10. Bid Acceptance Within 10% of Reserve Price
Unless otherwise agreed, the auctioneer reserves the right to accept any bid that falls within 10% of the reserve price set for the item being auctioned. This discretion allows the auctioneer to facilitate the sale in the best interest of both the seller and potential buyers.

11. Payment to You
EAMA Group endeavors to process vendor payments promptly, typically within 24 hours of receipt of payment from the winning bidder, provided the goods have been released.

12. Inspection and Condition of Assets
Vendors are responsible for ensuring that assets offered for sale are accurately described and in the stated condition. Potential buyers may request inspections prior to bidding.

13. Indemnification
Vendors agree to indemnify and hold EAMA Group harmless from any claims, damages, liabilities, or expenses arising from the sale of their assets.

14. Withdrawal of Assets
Assets may not be withdrawn from the auction once listed without prior written consent from EAMA Group, except under exceptional circumstances.

15. Dispute Resolution
In the event of a dispute, both parties agree to engage in good faith negotiations. If resolution cannot be reached, legal remedies may be pursued.

16. Amendments
EAMA Group reserves the right to modify these terms and conditions at any time. Vendors and affiliates will be notified of any changes, and continued participation constitutes acceptance of the modified terms.

Affiliate Terms and Conditions:

17. Affiliate Participation
By participating in our affiliate program, you, as the affiliate, agree to promote EAMA Group's services and refer potential vendors to our platform. Affiliates must adhere to strict brand guidelines and refrain from using misleading or deceptive marketing tactics that could tarnish the reputation of the business.

18. Commission Structure
Affiliates will earn commissions based on the sales generated by the vendors they refer. If a vendor joins without incurring any commission charges, affiliates will receive a 1% commission on subsequent sales. If a commission rate is agreed upon with the vendor, affiliates will receive 50% of that commission rate on sales generated.

19. Commission Adjustment
Should we find a vendor is not selling products, EAMA Group reserves the right to adjust vendor commissions to help push sales. Any adjustments will also affect the affiliate commission rates accordingly.

20. Termination of Affiliate Program
EAMA Group reserves the right to terminate the affiliate program at any time without prior notice.

21. Compliance
Affiliates are expected to comply with all applicable laws and regulations governing affiliate marketing activities and taxes.

22. Indemnification
Affiliates agree to indemnify and hold harmless the business from any claims, damages, or liabilities arising from their marketing activities or breach of the agreement.

23. Quality Control
The business reserves the right to review and approve all marketing materials and promotional strategies used by affiliates to ensure alignment with the brand's values and standards.

24. Termination Clause
The business retains the right to terminate the affiliate agreement at any time if the affiliate engages in activities that could harm the business's reputation or violate the terms of the agreement without any payout.

25. Commission Clawback
In the event of fraudulent activities or violations of the agreement, the business reserves the right to claw back commissions earned by the affiliate.

26. Confidentiality
Affiliates are required to maintain the confidentiality of any proprietary information shared with them as part of the affiliate program.

27. Agreement Acknowledgement
By participating in the affiliate program, affiliates acknowledge and agree to abide by these terms and conditions.

28. Entire Agreement
These terms and conditions constitute the entire agreement between the vendor or affiliate and EAMA Group, superseding all prior negotiations or agreements, whether oral or written.

29. Governing Law and Jurisdiction
These terms and conditions are governed by the laws of England and Wales. Any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.

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I agree to the above terms and instruct you to commence with any assets we upload to the portal.