User Agreement for Bid Buy Lease Pte Ltd (BBL)

This User Agreement (the “Agreement”) governs the terms under which you (“User”) access and use Bid Buy Lease Pte Ltd (“BBL,” “we,” or “us”) Services. By using BBL’s marketplace, available at BidBuyLease.com, Users agree to comply with this Agreement and all related policies.

1. Definitions

  • “Services” refers to all online auction and listing services, including but not limited to bidding, purchasing, and listing on BBL’s Site.
  • “User” means any individual or entity using BBL’s Services.
  • “Listing” means any asset, goods, or services posted for sale or auction on BBL’s platform.

2. Eligibility and Account Requirements

  • Age Requirement: Users must be at least 18 years old to register and use BBL’s Services.
  • Legal Authority: Users agree that they have the legal authority to enter into this Agreement.
  • Account Responsibility: Users are responsible for maintaining the confidentiality of their account and password. All activity under an account is the responsibility of the registered User.

3. Scope of Services and Transaction Framework

  • Purpose: BBL provides a marketplace for Users to list, bid, lease, and purchase industrial goods and Oil Country Tubular Goods (OCTG).
  • Listing and Transaction Process:
    • Sellers create listings for auction or direct sale. BBL facilitates the transaction but does not own the goods.
    • Buyers bid on or purchase goods as-is, accepting all terms specified in the listing.
  • BBL’s Role: BBL is an intermediary platform and does not directly engage in the sale, ownership, or possession of listed items.

4. User Obligations and Prohibited Conduct

  • Compliance with Laws: Users agree to abide by all applicable laws, including local and international trade and export regulations.
  • Prohibited Content and Conduct: Users are prohibited from:
    • Illegal Content: Posting or listing any illegal items, substances, hazardous materials, weapons, or firearms.
    • Intellectual Property Violations: Listing items or using content that infringes on third-party rights, including patents, copyrights, or trademarks.
    • Shill Bidding: Artificially inflating bids on their own listings or encouraging others to do so.
    • Spam and Fraud: Engaging in spamming, impersonation, or fraudulent activity.
  • Prohibited Items: The following are strictly prohibited from being listed or transacted on BBL’s platform:
    • Illegal Items and Substances: All illegal substances, including drugs or paraphernalia.
    • Firearms, Ammunition, and Explosives: All firearms, ammunition, and explosive materials.
    • Hazardous and Restricted Goods: Including, but not limited to, radioactive materials, dangerous chemicals, and toxic substances.
    • Stolen or Counterfeit Goods: Any items acquired through unlawful means or imitating branded products without authorization.

5. Transaction Policies

  • Transaction Completion:
    • Bidding Process: A transaction is complete when a Buyer’s bid is accepted by the Seller.
    • Payment and Buyer’s Certificate: Upon payment, BBL issues a Buyer’s Certificate authorizing asset removal.
  • Fees and Commissions: BBL charges a 7% commission on successful transactions, deducted from the Seller’s proceeds.
  • Asset Removal: Buyers are responsible for removing purchased assets within the timeframe set in the listing.
  • Inspection and “As-Is” Purchase: All assets are sold “as-is, where-is,” with no guarantees from BBL. Buyers are encouraged to inspect items before bidding.

6. Liability and Limitation of Warranties

  • Service Disclaimer: BBL’s Services are provided “as-is” without warranties of any kind, whether express or implied.
  • Liability Limitation: To the fullest extent permitted by law, BBL is not liable for any indirect, incidental, or consequential damages, including but not limited to lost profits. Total liability in any claim shall not exceed the fees paid to BBL by the User in connection with the specific transaction.
  • User Acknowledgment: Buyers and Sellers acknowledge that BBL has no control over the quality, legality, or authenticity of items listed on the Site and accepts no responsibility for any claims arising from the nature of these items.

7. Dispute Resolution

  • Internal Dispute Assistance: BBL may assist in resolving disputes between Users but does not guarantee specific outcomes.
  • Arbitration Agreement: Any unresolved disputes shall be referred to binding arbitration under Singapore’s laws.
  • Limitation on Claims: Claims arising out of or relating to this Agreement or BBL’s Services must be filed within one year after the cause of action arises.

8. Term and Termination

  • Effective Period: This Agreement is effective as long as a User accesses or uses BBL’s Services.
  • Termination Rights: BBL reserves the right to suspend or terminate User accounts, listings, and access to Services for violations of this Agreement or applicable law.
  • Consequences of Termination: Upon termination, all active listings and pending transactions will be canceled, and any unpaid amounts will be due immediately.

9. Privacy and Data Use

  • Data Collection: BBL collects and uses personal information as described in our Privacy Policy. Users consent to the collection and use of their data per this policy.
  • Third-Party Data Sharing: BBL may share information with third parties to facilitate Services, subject to applicable privacy laws.

10. Communication and Notices

  • Electronic Notices: Users consent to receive notices and communications electronically via email or postings on our Site.
  • Notification of Changes: BBL reserves the right to modify this Agreement, with changes effective upon posting on the Site. Continued use after changes constitutes acceptance.

11. Governing Law and Jurisdiction

  • Legal Compliance: Users agree to comply with the laws of Singapore and international trade regulations.
  • Exclusive Jurisdiction: This Agreement is governed by Singapore law, and any disputes will be resolved in the courts of Singapore.

Appendix A – Prohibited Item Policy

The following items are prohibited from listing, sale, or auction on BBL:

  • Illegal Substances: Any form of controlled or illegal substance.
  • Weapons and Explosives: All firearms, ammunition, explosives, and related materials.
  • Hazardous Materials: Radioactive substances, toxic chemicals, and other dangerous goods.
  • Counterfeit and Fraudulent Items: Fake products, stolen goods, and any items that violate intellectual property laws.