This is the User Agreement for the UMTN.COM Website (the “Site”) provided by UMTN LTD (“UMTN.COM”). If you do not wish to be bound by the terms and conditions of this agreement, you may not access or use the site. We reserve the right to amend and republish this Agreement at any time with immediate effect.
The services provided on our site are only available to individuals who are able to form legally binding contracts in accordance with the laws of The United Kingdom of Great Britain. Our services are not available to minors or to suspended members of our site. If you do not qualify, you may not access or use the site. Your username or password must not be disclosed, transferred or sold to a third party. If you are registering as a company, you represent that you have the required authority to bind the company to this Agreement.
Fees and Services
Joining and using our system is free of charge and we operate a no buyers fee policy for our UMTN auctions. There are fees for selling items on our site. We reserve the right to change the fees for our services as well as change some or all of our services at any time. In the event that we introduce a new service, the fees for that service are effective at the launch of the service. Unless otherwise stated, all fees are quoted in GB Pounds Sterling. You are responsible for paying all fees associated with using our site and all applicable taxes.
Membership fees for sellers are to be paid annually in advance, and to cancel this, a period of 28 days notice must be given in writing before the end of each year or the fees will automatically be charged for the concurring year.
This Site is a Venue
i) This site is not an Auctioneer or a dealer. Our site is solely a venue that allows users to advertise, sell, and buy used machine tools and associated equipment, in real time live on the system. We are not involved in any way with the complete transaction between buyers and sellers. Therefore we have no control over the quality, safety or legality of the items advertised on our site or the accuracy of the listings. We cannot guarantee that a buyer or seller will actually complete a transaction.
ii) Identity Verification. We use a lot of techniques to identify users of our site when they register. Because user verification on the Internet is very difficult we cannot confirm each user's identity. Therefore we have established a ‘report this person’ system to help you notify us if the user with whom you are dealing is not a legitimate person or customer.
iii) Release. As this site is a venue, in the event that you have a dispute with one or more users, you agree to release this (and our officers, directors, agents, subsidiaries, joint ventures and employees) from all claims, demands and damages (actual and consequential) of every kind, known and unknown, disclosed and undisclosed, arising out of or in any way connected with such disputes.
iv) Information Control. We cannot control the information provided on our site by other users. You may find information offensive, harmful, inaccurate or deceptive. You must use our site with caution and common sense. Please note that there are also risks of dealing with underage persons or people acting under false pretense. There are also risks dealing with international trade and foreign nationals.
Enquiring, Bidding and Buying
You can enquire on as many machines as you like and are not bound to purchase these items.
If you are the highest bidder at the end of an auction (and you have met the reserve price requirements) you are obliged as a buyer to complete the transaction with the seller, unless the transaction is prohibited by law or by this Agreement. We reserve the right to cancel any current, future or finished auction.
By bidding on an item you agree to be bound by the terms and conditions of the sale. Bids are not retractable except in exceptional circumstances, e.g. when the seller changes the item's description after you bid; a clear typographical error is made; you cannot authenticate the seller's identity.
Advertising and Selling
i) Advertising Description. You must be legally able to sell the item(s) you advertise for sale on our site. Your listings must include a correct description of the item and must only include text descriptions, pictures and other content relevant to the sale of that item. All advertised items must be listed in its appropriate category.
ii) Binding Bids. If you receive at least one bid at or above your stated reserve price, you are obligated as the seller to complete the transaction with the highest bidder upon the auction's completion, unless there is an exceptional circumstance, i.e. you cannot authenticate the buyer's identity.
iii) Fraud. We reserve the right to suspend or terminate your account if we suspect that you (by conviction, settlement, insurance or escrow investigation, or otherwise) have engaged in fraudulent activity in connection with our site.
iv) Manipulation. You and other bidders and sellers may not manipulate the price of any item and you may not interfere with other user's listings or transactions.