Auction Policy

This policy explains your rights and duties when using the auction sales service on MedWOW. Any use of the auction sales service on MedWOW, including all contents posting, item listing and placing purchase orders, is subject MedWOW's User Agreement (the "User Agreement") and to this policy.

This policy is incorporated to the User Agreement. By accepting the User Agreement, you agree to be bound by the terms of this policy, as well.

Subject to the following rules, you may take part in a bidding process on MedWOW, as a seller or a bidder:

 

Disclaimer

ALL TRANSACTIONS ARE MADE AND EXECUTED BY SELLERS AND BUYERS. MedWOW DOES NOT SERVE AS A PARTY TO ANY TRANSACTION BETWEEN BUYERS AND SELLERS AND ASSUMES NO RESPONSIBILITY IN ANY AND ALL MATTERS WITH RESPECT TO ANY RELATIONS BETWEEN BUYERS AND SELLERS.

 

General rules

- Sellers and bidders are fully responsible for complying with any applicable laws, rules and regulations, including tax laws and regulations, pertaining to the sale of items on MedWOW.

- Sellers and bidders are fully responsible for conducting all relevant inquiries and research, prior to listing an item for sale and placing a bid.

- Shill bidding, meaning posing or causing others to pose as customers in order to lure other customers, is prohibited on MedWOW.

- All bids are subject to a minimum bid and are made in increments, as posted on MedWOW for each item.

- At any time, MedWOW may decide that certain items do not qualify for listing on MedWOW. Consequently, MedWOW may remove such items, or refrain from listing them.

- Bidding offers which were received after the closing time of the bid will not be taken into consideration and may not be logged or saved. MedWOW may further erase any logged offers and messages, at MedWOW's own discretion and without giving any notice.

- All commission rates are set forth in the Fee Schedule.

 

Listing an item

- Sellers and bidders must be at least 18 years of age.

- Subject to the terms herein, listing an item for bidding on MedWOW is an irrevocable acceptance to sell the item to the winning bidder.

- The seller will fill in the relevant forms on MedWOW with a complete and accurate description, details, and conditions of sale and provide full disclosure of the item's condition. In addition, the seller must provide details as follows:

1. Starting price.

2. Reserve price.

3. Bid Increment (Will be automated).

4. Auction Closing Date (the first possible closing date, before any extensions. default 14 days).

5. Extend Until Date (final closing date, no extensions are allowed after this date).

6. Purchase Now Price.

7. Whether an item should automatically be posted in regular sale mode if auction ends without the reserve price being met. Required price for posting item in regular sale mode.
- All details shall be posted in the designated fields on MedWOW.

- The seller may set a 'reserved price' for an item and accept only bidding offers which are higher than the reserved price. The seller will provide MedWOW with the reserved price and indicate on the item's web page on MedWOW, that the item's sale is subject to such price. However, MedWOW will not reveal the reserved price to the users on MedWOW.

- The seller shall list each item in the most appropriate category. Unless expressly permitted, no item shall be listed in more than one category.

- Each seller represents and warrants that all rights to the item are either owned by the seller, or by a third party who authorized the seller to list the item for sale on MedWOW. Upon MedWOW's request, sellers must promptly provide MedWOW with a written and duly signed power of attorney, confirming the owner's authorization.

- A seller that insists on ending an auction prior to its scheduled closing time will be charged with penalty fees. The amount of the penalty fees will reflect in MedWOW's sole discretion, the loss of resources and the damages (both pecuniary and non-pecuniary) which might arise as a result of the untimely closing.

- Sellers will refrain from willfully or carelessly failing to supply an item which they listed on MedWOW, unless -

1. the winning bidder fails to meet the posted price and conditions of sale, or,

2. the seller cannot reasonably authenticate the buyer's identity.

In any other event, the seller will pay full and non refundable Auction Final Value fees (transaction fees), including the buyer's share of the fees. The buyer will be exempted from paying any fees and will be reimbursed with half of the seller's fee payments. This reimbursement will not prevent one side suing the other.

 

Bidding

- Bidding for an item on MedWOW is an irrevocable offer of the bidder to buy the item at the bid price, if the offer is the winning bid.
 
- The following may not place a bid on an item:

1. Seller of item or any other representatives of Seller's Company.

2. Family members or roommates of Seller of item or any other representatives of Seller's Company.

3. Users originating from countries defined by Seller as Restricted Countries.

- Bid will be processed only after authorization that Buyers credit card has sufficient credit to pay Buyer' auction transaction fee, and may, at MedWOW's consent, be retracted at any point if found that Buyers credit card DOES NOT have sufficient credit to pay Buyer' auction transaction fee.

EXCEPT AS EXPLICITLY PROVIDED IN THIS SECTION, A SUBMITTED BID MAY NOT BE RETRACTED.

- Winning bidders will refrain from willfully or carelessly failing to deliver payment for an item that they have purchased through the use of MedWOW in accordance with the payment details specified by the Seller, unless:

1. The seller has materially breached the Transaction Agreement; or,

2. The seller has changed the item's description after the buyer has placed the winning bid offer; or,

3. The buyer cannot reasonably authenticate the seller's identity.

In any other event, the winning bidder will pay full and non refundable Auction Final Value fees (transaction fees), including the seller's share of the fees. The seller will be exempted from paying any fees. This reimbursement will not prevent one side suing the other.

- If bid is retracted, and retraction is not due to the Seller materially breaching the Transaction Agreement or the Buyer failing to reasonably authenticate the Seller's identity, the option to purchase the item shall be offered to the next highest bid, and if accepted will be subject to the instructions of this policy.

- Please note that submitting a request for inspection does not stop the auction process, or prevent other bidders from purchasing the auctioned item.

 

The purchase sequence

- Subject to the seller's payment and the winning bidder's payment of the Auction Transaction Fee, as set forth in the Fee Schedule, each party will receive a link to a web page consisting of the other party's contact details. Clicking on these links will be documented and retained in MedWOW's data bases, and shall serve as confirmation of receipt. Each party must contact the other party, shortly after receiving the link to the other party's contact details.

(Auction Transaction Fee: a fee MedWOW charges seller and buyer based on the "final value" of the item, which is the selling price at closing. The Final Value Fee is not charged if there are no bids on an item or the high bid did not meet the seller's reserve price. The winning bidder and seller, each, will pay 50% of the winning price fee to MedWOW. This fee (50% of the winning price fee) will be deducted from the amount buyer shall pay to seller; actually, buyer doesn't pay any fee for participating in auction).

 

Auction extension

In no event shall an auction exceed Latest Closing Time.

Auction may be extended automatically in the following cases:

  1. If bid is placed within 1 business day of the closing time, and closing time has not reached Latest Closing Time, auction shall be extended by 1 business day.
  2. If closing time arrived, and no bid has been places or reserve price has not be met, auction shall be extended by 7 business days or until the Latest Closing Time, whatever comes first..
  3. If user requests inspection within 7 business days of the closing time, auction shall be extended by 7 business days or until the Latest Closing Time, whatever comes first.

 

Reserve price not met / no bids

If Latest Closing Time arrives and either no bids have been placed or reserved price has not been met, then:

- If seller agrees to regular sale after auction ends, item shall be posted as regular sale with same listing number.

- If seller does not agree to regular sale after auction ends, item shall be removed from site.

 

Changes to this Policy

We may change and update the terms of this Policy from time to time. We therefore recommend that you read it periodically. All substantial changes that we make to this Policy will be notified on MedWOW and take effect 30 days following their initial posting.

 

Contact us

You may send us requests, responses, questions and complaints, by using the 'contact us' form on MedWOW, or by contacting us at service@medwow.com.

Copyright © 2011 MedWOW ltd. All rights reserved.