A. Listing and Selling. If a Member wants to become a Seller and sell its merchandise using the Service, the Member will be required to complete the necessary information and follow the procedures set out. Seller has the right, either by title or acting as an authorized agent of the owner, to sell said merchandise. 1.14 Bidding and Buying. All Bid amounts are in U.S. Dollars.
Bids are only valid during the auction period unless renewed.
If a Seller receives one or more Bids at or above Sellers Minimum Bid Quantity or in the case of reserve auctions, at or above the reserve price, then Seller is obligated to complete the transaction with the highest bidder, unless there is an exceptional circumstance, such as if the Buyer fails to meet the terms of the Listing. Members cannot withdraw Bids, only in exceptional circumstances, such as in the case of clear typographical errors. Members may not engage in Bid manipulation, for example, by bidding in a way that pulls other bidders to their maximum Bid, withdrawing the high Bid, and then re-bidding at a small increment above the legitimate high bidder. Seller may not E-mail bidders in a current open auction being run by a different Seller. If there is a winning bidder at the close of the Auction Period, PetroGlobal removes the Listing.