MEMBER TERMS AND CONDITIONS

Last revised: May 20, 2025

SECTION A: Global Salvage Buyer UNITED STATES  (“U.S.”) STANDARD TERMS AND CONDITIONS

• These terms and conditions govern all items offered for sale by or through Global Salvage Buyer facilities located in the U.S.

SECTION B: Global Salvage Buyer CANADA STANDARD TERMS AND CONDITIONS

• These terms and conditions govern all items offered for sale by or through Global Salvage Buyer facilities located in Canada.

SECTION A – U.S. STANDARD TERMS AND CONDITIONS

As a condition to entering into any transaction through a website maintained by Global Salvage Buyer, Inc. (including, but not limited to, globalsalvagesales.com) (collectively, “Global Salvage Buyer’ websites”), for any item offered at or through a Global Salvage Buyer facility in the U.S. (including at a live auction conducted by Global Salvage Buyer), you (“Member”) agree to be bound by the following Terms and Conditions. Global Salvage Buyer reserves the right to amend these Terms and Conditions at any time without prior notice to you. In addition, any terms and conditions printed on Global Salvage Buyer sale sheets, any conditions displayed on Global Salvage Buyer’ websites, and the Image and Data License Agreement, the Global Salvage Buyer Website Terms of Service, and the Global Salvage Buyer Privacy Policy are incorporated into these Terms and Conditions by reference. Unless otherwise stated, all fees are quoted in U.S. Dollars.

These Terms and Conditions affect your legal rights against Global Salvage Buyer. You should read the entire Terms and Conditions carefully before accepting them. By registering as a Member and/or placing a bid in a Global Salvage Buyer auction, you represent and warrant to Global Salvage Buyer that you have read and understood the Terms and Conditions in their entirety and that you agree to be bound by them in all respects.

Assets offered for sale on Global Salvage Buyer’ websites are sold through our Internet-based auction selling platform. Only registered and verified Members in good standing are permitted to bid on assets.

Bidding Overview: Here are the ways for Members to bid on assets offered for sale on Global Salvage Buyer’ websites:

• “Online Bidding” – Members may log onto Global Salvage Buyer’ websites and submit bids electronically, over the Internet, to compete with other Online Bids.
• Bidding through a “GSB Broker” – Members may sign up with a Registered Broker to bid on assets that they may not qualify to buy directly on Global Salvage Buyer’ websites. When you select a Registered Broker, you will be redirected to the Broker’s website to register with the Broker. If you sign up with a Registered Broker and buy an asset on one of Global Salvage Buyer’ websites, you are buying the asset from the Broker, not from Global Salvage Buyer. Members who elect to sign up with a Registered Broker to bid on an asset offered at Global Salvage Buyer’ websites are advised to carefully read and understand the Broker’s website terms and conditions, including payment terms and conditions, conditions of sale, and fees charged. Registered Brokers are independent of Global Salvage Buyer and you should review their qualifications and services offered thoroughly to ensure that they meet your asset purchasing needs.
• Bidding through a “Market Maker” – Members may visit a Market Maker to bid on assets at Global Salvage Buyer’ websites. Market Makers do business from a physical location, where you can search for assets available for purchase at Global Salvage Buyer’ websites. If you use a Market Maker to buy an asset on one of Global Salvage Buyer’ websites, you are buying the asset from the Market Maker, not from Global Salvage Buyer. Members who elect to use a Market Maker to bid on an asset offered at one of Global Salvage Buyer’ websites are advised to carefully read and understand the Market Maker’s terms and conditions, including payment terms and conditions, conditions of sale, and fees charged. Market Makers are independent of Global Salvage Buyer and you should review their qualifications and services offered thoroughly to ensure that they meet your asset purchasing needs.
• “Sealed Bidding” – Members may log onto Global Salvage Buyer’ websites to bid on certain assets offered by insurance companies and asset finance companies through Global Salvage Buyer’ Virtual Internet auction and Sealed Bid Repo Sales. Sealed Bid Repo Sales use a sealed bid format.
• “Buy It Now” – Certain assets are offered for sale with the “Buy It Now” feature. Buy It Now allows a Member to purchase an asset immediately at a price set by the seller before the asset goes to auction. Upon clicking the Buy It Now button, the Member will be directed to a confirmation page to confirm the Member’s Buy It Now bid. Once the bid is confirmed, the Member will be directed to the payment screen.
• “Make an Offer” – Certain assets are offered for sale with the “Make an Offer” feature. Make an Offer allows a Member to make an offer for an asset. Offers submitted by clicking the Make an Offer button cannot be retracted and are valid for 2 business days (not including the day the offer is made) regardless of auction date or results.
• “Live Auction Bidding” – Global Salvage Buyer may offer assets for sale through a live auction format. All such assets are also offered for sale on Global Salvage Buyer’ websites, with the live auction and Virtual Sale running concurrently. At the live auction, Global Salvage Buyer will announce Virtual Bids placed on an asset and will enter Live Auction Bids placed by Members present in person at the live auction. Live Auction Bids will be visible to Members viewing the Virtual Sale on Global Salvage Buyer’ websites. Global Salvage Buyer will have the ability to extend the bidding time for an asset in Global Salvage Buyer’ sole discretion.

I. DISCLAIMERS

A. Asset Condition and History Disclaimer. 

Except as otherwise expressly provided by applicable law, ALL ASSETS ARE SOLD “AS-IS WHERE-IS.”

Except as otherwise expressly provided by applicable law, all assets sold through Global Salvage Buyer are sold “AS-IS WHERE-IS,” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY. As used in these Terms and Conditions, “asset(s)” means all items posted for sale on Global Salvage Buyer’ websites and otherwise offered for sale at Global Salvage Buyer facilities, including but not limited to cars, trucks, motorcycles, boats, jet skis, industrial equipment, trailers, RVs, etc. “Assets” also include miscellaneous salvage items that are posted for sale on Global Salvage Buyer’ websites under the heading “Other Goods.” However, Members expressly acknowledge and agree that “asset(s)” does not mean or include, and Global Salvage Buyer does not purport to facilitate the sale of, any cargo or items of personal property which may be contained in an asset but are not part of the asset. It is the sole responsibility of the Member purchasing an asset to take possession and/or dispose of any such cargo or contents in accordance with applicable law.

Global Salvage Buyer and its asset sellers expressly disclaim the accuracy or completeness of any and all information provided to Members regarding assets, whether provided in written, verbal, or digital image form (“Asset Information”). Asset Information provided by Global Salvage Buyer and its asset sellers is for convenience only. Members shall not rely on Asset Information in deciding whether or how much to bid on an asset offered for sale through Global Salvage Buyer. Asset Information includes but is not limited to: year, make, model, condition, ACV, damage amount, damage type, drivability, accessories, equipment, mileage, odometer disclosures, asset identification number (e.g., “VIN,” “HIN,” and serial number), title, repair cost, repair history, title history, and total loss history. No effort has been made to list open recalls applicable to any assets. Any recalls are the sole responsibility of the purchaser and can be found at locations like www.NHTSA.org. Global Salvage Buyer and its asset sellers expressly disclaim any and all representations, warranties, and guarantees regarding assets sold through Global Salvage Buyer. Global Salvage Buyer does not guarantee that keys are available for any asset sold through Global Salvage Buyer, regardless of whether keys are present in online asset images, or were present in the asset prior to the time of purchase. Certain jurisdictions permit assets to be sold with missing VIN plates; as a result, Global Salvage Buyer does not guarantee that assets are equipped with any or all VIN plates. Asset parts may be missing. Global Salvage Buyer does not guarantee that assets meet or can be modified to meet local emission and/or safety requirements. It is the sole responsibility of the Member to ascertain, confirm, research, inspect, and/or investigate assets and any and all Asset Information prior to bidding on assets.

All Members agree that Global Salvage Buyer assets are sold AS-IS and are not represented as being in roadworthy condition, mechanically sound, or maintained at any guaranteed level of quality. The assets may not be fit for use as a means of transportation and may require substantial repairs and expense. Repairing or dismantling assets on Global Salvage Buyer premises is strictly prohibited. All Members must arrange to safely and legally remove purchased assets from Global Salvage Buyer’ facility prior to undertaking any repairs or dismantling.

B. Registration Laws Disclaimer. Global Salvage Buyer does not guarantee that any asset sold can be legally registered in any state or country, and the Member accepts all risks associated with variations in asset title and registration laws between states, provinces, and countries that may negatively impact the marketability of assets purchased at Global Salvage Buyer. (For example, an asset legally purchased on a clean title by a Member at a Global Salvage Buyer facility located in State “A” may be required to be sold on a salvage title if the Member transports and resells the asset in State “B”.)

C. DMV/MVD/DOR Paperwork Disclaimers. Global Salvage Buyer is not responsible for defects, errors, or omissions (i) related to motor vehicle department or department of revenue paperwork not processed by Global Salvage Buyer or (ii) made by any motor vehicle department, department of revenue, or other governmental entity.

D. NMVTIS Reporting Disclaimer. Assets listed for sale at Global Salvage Buyer may have been reported to the National Motor Vehicle Title Information System (“NMVTIS”), and transaction data related to assets purchased at Global Salvage Buyer may be reported to NMVTIS, in Global Salvage Buyer’ sole discretion. Each Member accepts all risks associated with purchasing assets at Global Salvage Buyer resulting from the reporting of the asset or the purchase transaction data to NMVTIS by Global Salvage Buyer or others. Members may be subject to NMVTIS reporting requirements when purchasing certain assets. For more information on reporting requirements, exemptions, and how to obtain a NMVTIS Reporting ID, visit www.vehiclehistory.gov.

E. Disclosure of Member Information. Each Member expressly agrees that Global Salvage Buyer may, if and to the extent necessary to comply with applicable law, disclose information regarding Global Salvage Buyer’ Members and regarding transactions conducted by Members through Global Salvage Buyer if requested to do so in any judicial or administrative proceeding or by any governmental agency or regulatory authority (whether by deposition, interrogatory, request for documents, subpoena, civil investigative demand, or otherwise).

II. SALE POLICIES

A. Bid Rejection. Global Salvage Buyer reserves the right to reject or void bids for any reason, in Global Salvage Buyer’ sole and absolute discretion. Should a dispute arise regarding a bid, Global Salvage Buyer is the exclusive deciding authority with sole and absolute discretion in resolving disputes. Members agree to indemnify, defend, and hold Global Salvage Buyer harmless from any and all liability arising out of decisions made in resolving disputes.

B. Sale Cancellation. Global Salvage Buyer may, in its sole and absolute discretion and with or without notice, postpone or cancel a sale or withdraw an asset from a sale. Global Salvage Buyer will have no liability or obligation to Members as a result of any asset withdrawal or sale cancellation or postponement. Further, Global Salvage Buyer reserves the right to cancel or reverse a sale transaction in the event of fraud, material misrepresentation, or patent defect in the Asset Description or bidding information, as determined by Global Salvage Buyer in its sole discretion. In the event a sale is canceled after the Member has remitted payment, Global Salvage Buyer will credit the amount of the payment to the Member’s account (or to the Member’s credit or debit card used to remit payment, if applicable).

C. Minimum Bids, Bid to Be Approved, and Counter Bidding.

If (a) the seller designates an asset as “Needs approval” or (b) the seller designates a Minimum Bid for an asset and the high bid in the auction is less than the Minimum Bid amount, then the asset will not be released to the Member with the high bid unless and until the seller has notified Global Salvage Buyer of its acceptance of the bid. The seller has until 8 p.m. (Pacific Time) on the next business day following the day of the auction to notify Global Salvage Buyer of such acceptance.
Counter Bidding allows sellers who have designated an asset as Minimum Bid or Neds Approval to directly counter bid a bidder after the auction ends. The Member acknowledges and agrees that, regardless of any counter bids made by the seller of an asset, the Member’s high bid on a Minimum Bid or Bid To Be Approved asset is an offer that shall remain open to acceptance by the seller until 8 p.m. (Pacific Time) on the next business day after the day of the auction.

F. Sealed Bids.

Sealed Bid assets are still in the seller’s possession at the time of bidding and may only be inspected using the images or the Quick Inpspect AR inspections available on Global Salvage Buyer’ websites. Assets may not be viewed or inspected with Quick Inspect AR or any other means after auctions end in order to preserve asset.The location of the facility where the asset and title may be picked up by the high bidder will appear in the online asset listing. Sealed Bid assets are sold “on approval” using a sealed bid auction format. In the event of a tie between two or more bidders, the first bid received will be deemed the high bidder. Once submitted, bids can be increased, but cannot be lowered or retracted.
Global Salvage Buyer will notify Members whether a bid has been accepted by the seller within three business days after the listed bidding period ends.
If a Member’s bid has been accepted, the Member is obligated to purchase the asset. If the member is the high bidder and refuses to purchase or make full payment  of the asset and fees, then they agree to forfeit their entire deposit and may not attend further auction held by GSB. The Member will have the standard number of days allowed to pick up the asset before late-payment and storage fees apply.

G. Asset and Title Release. Global Salvage Buyer reserves the right not to release any asset or asset title for any reason.

H. Bids Entered. Once a bid has been submitted, it cannot be retracted, deleted, or canceled.

I. Risk of Loss. Each Member takes full responsibility and assumes all risk of loss for all assets purchased from the time Global Salvage Buyer accepts the Member’s bid. From and after acceptance of the Member’s bid (for assets located at a Global Salvage Buyer facility or other facilities), the Member acknowledges that Global Salvage Buyer is acting as bailee of the Member’s asset until such time as the asset is removed from Global Salvage Buyer’ premises or other facilities by the Member or the Member’s agent or representative. The Member agrees that under the terms of the bailment, (1) Global Salvage Buyer shall not be responsible for damage to or loss of the asset or parts thereof due to operational procedures in place at all Global Salvage Buyer facilities or other facilities, from acts of theft or vandalism, or acts of God; (2) Global Salvage Buyer shall only be responsible for damage to or loss of the asset or parts thereof caused by the direct willful or grossly negligent act or omission of Global Salvage Buyer; and (3) Global Salvage Buyer shall not be responsible for any claim of damage made after the asset is sold or has left Global Salvage Buyer’ premises or other facilities, regardless of whether the Member or any agent, employee, or other representative on the Member’s behalf picks up the asset.

The Member agrees to comply, and to cause its agents and representatives to comply, with all applicable laws and regulations when removing an asset from a Global Salvage Buyer facility or other facilities, including properly loading and securing all assets for safe travel. Global Salvage Buyer personnel may not load purchased assets for Members. Global Salvage Buyer personnel take no responsibility for ensuring that the assets are properly loaded or secured for safe transport. Global Salvage Buyer shall in no event be responsible or liable for any damage occurring as a result of unsafe or improper loading or securing of an asset for transport and the Member agrees to indemnify, defend, and hold Global Salvage Buyer harmless from any and all claims, damages, losses, liabilities, obligations, costs, and expenses (including attorneys’ fees) arising from or related to any failure of the Member or the Member’s agent or representative to properly load and/or secure an asset for transport.

Once an asset is paid it is accepted AS-IS, and under no circumstances will Global Salvage Buyer be liable for subsequent claims of damage or loss of any kind or nature whatsoever. In the event Global Salvage Buyer is responsible, damages shall be limited to the lesser of (i) the amount of the diminution in value of the asset as reasonably estimated by Global Salvage Buyer or (ii) the auction sale price (in which case the Member shall return the asset to Global Salvage Buyer). Global Salvage Buyer may, in its sole discretion, resell the asset at a Global Salvage Buyer sale, and the difference between the original sale price and the resale price shall be conclusive as to the amount of diminution of value, if any.

J. Offsite Sales. Offsite Sales assets will be available for pick up at the designated Global Salvage Buyer facility or offsite address indicated. Standard Global Salvage Buyer pickup requirements and storage rates apply to assets sold from offsite sale locations. If the Member fails to pick up or arrange payment with facility of an offsite asset within six (6) days of sale, the asset may, at Global Salvage Buyer’ sole discretion, be moved from the offsite sale location to one of Global Salvage Buyer’ other facilities, and if the asset has been moved, the Member will be responsible for towing charges from the offsite location to Global Salvage Buyer’ new choice of facility, plus additional storage charges that may accrue from that day onward, for up to 30 days. After the asset has been at Global Salvage Buyer’ new location for 30 days and the towing and storage charges have not been paid, the asset will be considered abandoned and Global Salvage Buyer will process the asset according to applicable law.

L. Timely Removal or Facility Payment arrangement of Purchased Assets. Assets purchased and not removed from Global Salvage Buyer parking, storage, partner storage, staging areas, temporary locations or loading facilities by 3 p.m. (local time at the facility) will need be at the discretion of the facility to offer service after that time.

III. ASSET EXPORTS

A. Exporting Purchased Assets. The following provisions govern all transactions in which a Member wherever located, purchases an asset from or through any Global Salvage Buyer facility in the U.S. and then transports the asset out of the U.S. (“Asset Export Transactions”):

All Asset Export Transactions are subject to U.S. export laws and regulations, including but not limited to the Foreign Trade Regulations (the “FTR”) and the Export Administration Regulations (the “EAR”). Diversion contrary to U.S. law is prohibited. All Members agree not to export, re-export or permit the re-export of the purchased asset to a restricted and/or embargoed country anywhere listed by the U.S. Department of State, U.S. Department of Commerce, or the U.S. Department of Treasury and/or individuals on any denied/debarred party list of the U.S. government. All Members expressly agree to comply with all controls of general applicability under the EAR General Prohibitions found at 15 CFR Part 736.

Under the FTR, a Member that is a U.S. entity and that purchases an asset from or through a Global Salvage Buyer facility in the United States will be the U.S. Principal Party in Interest (USPPI) with respect to the export of that asset and will be responsible for ensuring compliance with U.S. export reporting requirements, including the filing of Electronic Export Information (EEI). All Members agree that Global Salvage Buyer will not be identified as a party to an export transaction in any EEI filing in such cases.

If a Member outside the United States purchases an asset from or through a Global Salvage Buyer facility in the United States for export to a foreign location, the purchase will be a “Routed Export Transaction” under the FTR. In such transactions, the Member will be the Foreign Principal Party in Interest (the “FPPI”), and the Member agrees to authorize a U.S. forwarding agent (the “Authorized Agent”) to file EEI on the Member’s behalf and to facilitate the export of the asset. Global Salvage Buyer may be identified as the USPPI only in these Routed Export Transactions, and its legal responsibility under the FTR is limited to providing certain information to the Member’s Authorized Agent to assist the Authorized Agent in its preparation of the EEI

In all Routed Export Transactions, the Member expressly agrees to assume responsibility for determining any licensing requirements under the EAR and for obtaining any license authority for the purchased asset. This Section III of the Terms and Conditions serves as the Member’s writing within the meaning of 15 CFR § 758.3(b) wherein the Member as FPPI expressly agrees to assume these responsibilities and agrees that the Member’s U.S. Authorized Agent will be the “exporter” for EAR purposes.

B. Shipping Referral Program. Global Salvage Buyer offers an international shipping services referral program (the “Program”) whereby Members may contract directly with certain freight forwarders to purchase international shipping services for assets purchased in the U.S. from globalsalvagesales.com. If a Member purchases international shipping services from one of these freight forwarders, then the freight forwarder will act as the Authorized Agent for the Asset Export Transaction and the Member will abide by Section A above.

C. Foreign Corrupt Practices Act. All Members are subject to the provisions of the U.S. Foreign Corrupt Practices Act of 1977 (“FCPA”), which prohibits the making of corrupt payments. Under the FCPA, it is unlawful to pay or to offer to pay anything of value to foreign government officials, or employees, or political parties or candidates, or to persons or entities that will offer or give such payments to any of the foregoing in order to obtain or retain business or to secure an improper commercial advantage. Members engaging in Asset Export Transactions shall not take actions, or permit actions to be taken on their behalf, which would constitute a violation under the FCPA.

D. Import Requirements. The Member shall act as “importer of record” or other responsible party (as the case may be) of each asset under all import laws of the country of destination and port of discharge and shall be solely responsible for compliance with all import requirements of the country of destination and port of discharge, including the preparation and filing of all required documentation with applicable government authorities, the payment of all import fees, duties, taxes, and any other charges payable upon import of an asset, and any required customs inspection and proof of emissions compliance.

IV. MEMBERS

A. Member Eligibility.

You may sign up as a Member at Global Salvage Buyer if you are at least 18 years of age. In addition, state-specific registration requirements and applicable laws, regulations, and restrictions may further limit Member sign-up and asset purchasing eligibility. Global Salvage Buyer reserves the right to deny member privileges to, or exclude from Global Salvage Buyer facilities, any individual or entity, in its sole and absolute discretion.

When you sign up as a Member at Global Salvage Buyer, Global Salvage Buyer collects and processes your biometric data in the form of geometric facial patterns derived from photographs that you provide to us. We use this data, along with other data, to verify your identity and prevent fraud. Global Salvage Buyer retains biometric data only for as long as necessary to verify your identity and prevent fraud. We do not retain your biometric data longer than necessary to provide our services and to comply with applicable law, which retention period will not exceed three years from the date of collection. Global Salvage Buyer will not disclose your biometric data to third parties, except for our service providers that process your data on our behalf to provide identity verifications, fraud prevention, and authentication services. By registering as a Member at Global Salvage Buyer, you acknowledge and agree that you have read this disclosure, and that you voluntarily consent to Global Salvage Buyer’ and its clients’ and service providers’ collection, storage, retention, use, and disclosure of your biometric data.

B. Member Types.

Registered Guests must register and provide first and last name, email address, and phone number. Registered Guests must submit a physical address and copies of current government-issued photo identification as well as licenses and completed sales tax exemption certificates, if applicable, in preparation of becoming a Member. Registered Guests may search inventory, add assets to a Watchlist, and create Asset Alerts, but Registered Guests may not bid on or purchase assets unless their membership type is upgraded and a deposit is given.

In order to bid on an asset, you must be a Member in good standing and have given the $500 or 5% deposit (whichever is greater):
Members must register and provide copies of current government-issued photo identification as well as licenses and completed sales tax exemption certificates, if applicable. A security deposit may also be required in certain cases in order for the Member to submit a bid (see Section V.H. below).
Members must register and provide copies of current government-issued photo identification as well as licenses and completed sales tax exemption certificates, if applicable. In addition, Members must pay the initial security deposit.
All Members who purchase assets for resale must provide copies of current licenses and completed sales tax exemption certificates or export documents.

E. Account Activity. Members are responsible for all account activity, including, without limitation, all Bids submitted under the Member’s username and password through Global Salvage Buyer’ websites. A Member’s account may not be transferred or assigned to any other person or entity. The Member shall promptly notify Global Salvage Buyer in writing in the event the Member’s account, membership I.D., or username and password are used without authorization. The Member shall be responsible for all account activity and charges incurred prior to Global Salvage Buyer’ receipt of written notice from the Member of the unauthorized activity.

F. Compliance with Law. Members shall comply with all applicable laws, statutes, ordinances, and regulations regarding their use of Global Salvage Buyer’ services, including but not limited to laws and regulations regarding the transportation, storage, transfer, resale, dismantling, or retitling of a purchased asset. All fines, penalties, fees, and other amounts assessed by a governmental authority as a result of a Member’s failure to so comply (collectively, “Asset Fines”), including but not limited to parking citations, toll road violations, tax liens, and impound fees, are the Member’s sole responsibility and each Member hereby agrees to indemnify and hold harmless Global Salvage Buyer from and against all such Asset Fines. Global Salvage Buyer may assess a processing fee of $750 per item against the Member’s account for the receipt and processing of citations, notices, and other legal documents pertaining to Asset Fines. Global Salvage Buyer further reserves the right to pay upon receipt all Asset Fines on the Member’s behalf and to charge the Member a fee of up to 150% of the Asset Fine amount plus the $750 processing fee, either by deducting such amount from funds held in the Member’s Global Salvage Buyer account or by charge to the Member’s credit card or debit to the Member’s checking account on file with Global Salvage Buyer. In addition, failure to comply with applicable laws and regulations, including by the timely payment or other resolution of all outstanding Asset Fines relating to a Member’s purchased assets, may result in the Member’s buying privileges being suspended or revoked by Global Salvage Buyer.

G. Global Salvage Buyer Facility and Contracted Facility Rules. Members and their agents, representatives, and visitors visiting Global Salvage Buyer’ facilities or contracted facilities, must comply with all facility rules and with the reasonable requests and instructions of Global Salvage Buyer facility personnel. Members must not remove any items, including any envelopes or paperwork, inside an asset and must alert Global Salvage Buyer to these items and allow Global Salvage Buyer to retrieve them. Anyone caught stealing or damaging assets will be arrested and prosecuted to the fullest extent of the law. This includes theft of or damage to any items inside an asset or to keys. A $500 reward will be paid to anyone providing information leading to the arrest and conviction of individuals stealing or damaging assets at Global Salvage Buyer facilities or contracted facilities. Members and their representatives and visitors visiting Global Salvage Buyer’ facilities must stay safe and clear of danger at all times. Members and their representatives and visitors may not bring tools of any kind, including diagnostic code readers and jump boxes, into Global Salvage Buyer facilities or contracted facilities. At no time can Member attempt to start engines or power up any asset under any circumstances and in the event this occurs, they will be responsible for the cost of any material damages to the asset along with revocation of their bids and future bidding rights on GSB assets. If such damages occur, GSB will use Member deposit and credit card to collect payment for such damages.

H. Membership Revocation. Global Salvage Buyer reserves the right to inactivate, suspend, or revoke a Member’s account for any reason, in its sole and absolute discretion.

I. Release of Liability and Indemnification. Members and their visitors irrevocably and unconditionally waive and release their rights (if any) to recover from Global Salvage Buyer, its directors, officers, employees, representatives, agents, subsidiaries, partners, contractors, storage facilities, and affiliates, and asset sellers (“Global Salvage Buyer Indemnitees”) any and all damages, losses, liabilities, costs, expenses, or claims, whether direct or indirect, known or unknown, or foreseen or unforeseen, which may arise from or be related to bodily injury, property damage, or other loss which occurs on Global Salvage Buyer premises or any other premise that assets are located. Members or members agents, representatives who view assets physically  in person agree to hold GSB harmless from injuries resulting in viewing, boarding or being in the vicinity of assets.  Members agree to indemnify, defend, and hold Global Salvage Buyer Indemnitees harmless from any and all damages, losses, liabilities, costs, or expenses (including attorneys’ fees) arising from claims made by the Member and the Member’s visitors arising from or related to: 1) bodily injury or property damage occurring on Global Salvage Buyer premises or contracted premises, 2) the Member’s failure to comply with applicable laws or regulations, 3) the Member’s sale or transfer of assets to third parties, and 4) claims made against Global Salvage Buyer Indemnitees by the Member’s visitors, agents, employees, or customers. UNDER NO CIRCUMSTANCES, INCLUDING NEGLIGENCE, WILL Global Salvage Buyer INDEMNITEES BE LIABLE FOR ANY SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OR LOST PROFITS THAT RESULT FROM OR ARE RELATED TO THE SALE, DISTRIBUTION, USE OF, OR INABILITY TO USE, ANY ASSET, EVEN IF Global Salvage Buyer INDEMNITEES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Members and visitors who are California residents waive California Civil Code §1542, which reads: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”

J. Marketing and Promotional Materials. Members agree they have affirmatively requested to receive marketing and promotional materials via mail, email, push email, facsimile, app, social media, text message, or other then-current methods of communication.

V. FEES, PAYMENT, AND DELIVERIES

A. Fees. All Members agree to pay the buyer and seller fees and other fees applicable to each asset purchase or sale. The current fee schedules for buyers may be accessed by registered Members from the “My Account” page of Global Salvage Buyer’ websites or visible on the detail page. Member buy and sell fees apply to all items purchased or sold at a Global Salvage Buyer sale, including miscellaneous salvage items sold as “Other Goods.” All fees are subject to change without prior notice. The Member is solely responsible for ascertaining applicable fees prior to bidding on an asset.

B. Payment.

Payment for assets and fees may be made by WIRE TRANSFER ONLY. Buyer has 5 days after sale date to send confirmation of wire transfer. If full payment is not received by the end of 5th day then GSB reserves the right to sell asset to the second highest bidder. At this time the Member forfeits all rights and deposits associated with said asset.
Commencing 30 days after the sale date, a finance charge in an amount equal to the greater of 1.5% per month (18% per annum) or the maximum allowed by law will be charged on any unpaid balance until payment in full is received by Global Salvage Buyer.
A security deposit of $500 or 5% of the bid amount (whichever is greater) is required to bid on all assets. Global Salvage Buyer will retain this deposit as security against unpaid invoices and the deposit will be forfeited in the event the buyer is the high bidder and does not pay the balance according to the terms of the sale. Global Salvage Buyer will return the deposit upon the Member’s request if all invoices have been paid, but the Member’s account will remain suspended. In the event the Member fails to pay any invoice and the debt is past due, Global Salvage Buyer will use the security deposit to satisfy the debt.

C. Sales Tax. Members purchasing assets from Global Salvage Buyer at wholesale pursuant to a sales tax exemption certificate agree to indemnify, defend, and hold Global Salvage Buyer harmless from any and all sales tax assessments, fines, penalties, damages, and costs, including attorneys’ fees, incurred as a result of a determination by taxing authorities that the transaction was subject to the payment of sales, use, or excise tax.

D. Relist Fees. In the event an asset is not paid for within the (5) days time specified by the Global Salvage Buyer facility where the asset was sold, the Member agrees that Global Salvage Buyer may, in its sole and absolute discretion, cancel the sale or relist the asset for sale, and the Member shall be responsible to pay a relist fee equal to their maximum deposit amount plus any collection costs, including court costs and reasonable attorney’s fees. Relist fees may vary by facility. The Member agrees to verify relist fees prior to bidding on assets.

G. Priority of Application of Payments. Payments made by a Member to Global Salvage Buyer will be applied in the following order: first towards any unpaid fees (including but not limited to Member registration fees, buyer fees, convenience, storage, loading/gate, late payment, relist, and delivery fees), then towards payment of the sale price of any assets purchased by the Member. For example, if a Member makes a payment of $2,000 but has outstanding relist fees of $1,000, Global Salvage Buyer shall apply the first $1,000 towards the unpaid relist fees, with the remaining $1,000 applied towards payment for assets. The Member agrees that Global Salvage Buyer has no duty to release assets or asset titles until all fees are paid in full.

H. Security Deposits.

1. Security Deposit Members. Global Salvage Buyer requires payment of a security deposit before any Member may place a bid on an asset. Security deposit requirements may be changed at any time. Current security deposit requirements may be found at globalsalvagesales.com/securitydeposit. It is a minimum of $500 or 5% of the amount you wish to bid. (whichever is greater)

A Member may request a refund of any unapplied security deposit online by visiting the Account Information page of Global Salvage Buyer’ websites. All refunds are subject to confirmation that the security deposit is not applicable to any open bids, default fees or unpaid charges or default fees. All refunds shall be credited to the credit card used to submit the deposit. In the event the credit card is not valid, the refund shall be sent by mail and mailed to the Member at the Member’s address on file with Global Salvage Buyer within 30 days of receipt of written request and verification of the amount due. In the event a Member fails to pay any invoice and the debt is past due, Global Salvage Buyer will use the Member’s security deposit to satisfy the debt including default fees.

VI. CHOICE OF LAW AND VENUE; ENTIRE AGREEMENT

A. Forum Selection, Venue, Jurisdiction, Choice of Law, and Service of Process. The Member acknowledges and accepts the following as express conditions to membership with Global Salvage Buyer:

Any action or proceeding arising directly or indirectly out of an asset bid or purchase transaction shall be conducted in the state/province and county where the asset was located at the time the bid was entered or the purchase transaction was consummated, and the substantive laws of such jurisdiction shall apply to such action or proceeding. For example, if a Member bids on or purchases an asset that was stored at Global Salvage Buyer’ facility or contracted facility in Billings, Montana, at the time such bid was entered or such purchase was consummated, any action or proceeding arising out of such bid or purchase must be conducted in Yellowstone County, Montana, and the substantive laws of the State of Montana would apply to such action or proceeding. All other actions and proceedings – i.e., those not arising directly or indirectly out of an asset bid or purchase transaction – must be conducted in Yellowstone County, Montana, and the substantive laws of the State of Montana will apply to such actions and proceedings.
The Member consents to the forum selection, choice of law, jurisdiction, and venue provisions described above.
The Member consents to service of process by certified or registered mailing of the summons and complaint to the last address provided by the Member to Global Salvage Buyer.
This section supersedes the venue provisions of the Global Salvage Buyer Website Terms of Service as applied to Member disputes involving the bidding on or purchasing of assets from Global Salvage Buyer.

B. Entire Agreement. These Terms and Conditions constitute the entire and sole agreement between the Member and Global Salvage Buyer with respect to the subject matter hereof. There have been no representations, warranties, or promises given or made that are not set forth in these Terms and Conditions.

1. Definitions:

• “Buyer” refers to the party purchasing Global Salvage.
• “Seller” refers to the party selling Global Salvage.
• Global Salvage” includes all materials, equipment, and items retrieved from Global environments.

2. Scope of Agreement:

• These terms and conditions govern the sale of Global Salvage Buyer from Seller to Buyer.

3. Inspection and Acceptance:

• The Buyer shall have the right to inspect the salvage before placing a bid via in person if allowable or via “Quick inspect AR” technology. Inspections are not allowed after the auction is closed.
• Acceptance of the salvage is automatic at the time the bid is placed. If the buyer is the highest bidder and does not complete the transaction, then they will forfeit their deposit and will no longer be able to participate in auctions.

4. Pricing and Payment:

• All bids are in USD. Full payments are due within 3 business days of the end of the sale. GSB has the right to offer the asset for sale to the second and third highest bidder after 3 days if the buyer does not pay entire balance. 
• All payments must be made via wire transfer. In some circumstances for international wires and extended time period may be accepted. Customer service must agree in writing. 
• All buy fees are due at the time of purchase. Buy fees may vary depending on the location and value of the asset. Make sure to pay attention as this fee is listed in the detail page of each asset.

5. Pick up and Possession:

• After 6 days  of the sales date or the payment date (whichever is sooner), the buyer is responsible for all costs and liabilities associated with the asset. GSB will be held harmless. 
• The buyer is responsible in coordinating the payment for storage, logistics and other services after the sale. GSB will provide necessary contact info after the payment has been made.

6. Title and Risk of Loss:

• Title and risk of loss transfer to the Buyer upon delivery and acceptance of the salvage.
• GSB will provide all necessary ownership documents to transfer the asset to new owner under US law unless otherwise stated.

7. Compliance with Laws:

• Both parties agree to comply with all applicable laws and regulations related to the handling, storage, and transportation of Global Salvage Buyer.

8. Warranty:

• All assets are strictly sold ” AS-IS” and ” WHERE-IS” and with a SALVAGE TITLE, TOTAL LOSS, or Constructive total loss branding unless explicitly stated on description page.
• No further warranties are expressed or implied unless specifically stated in writing.

9. Dispute Resolution:

• Any disputes arising from this agreement shall first be attempted to be resolved through mediation.
• If mediation fails, disputes shall be resolved through binding arbitration in accordance with the rules of an agreed-upon arbitration body.

10. Force Majeure:

• Neither party will be responsible for delays or failures in performance resulting from acts beyond their control. Such acts include but are not limited to acts of God, strikes, lockouts, riots, acts of war, epidemics, government regulations superimposed after the fact, fire, communication line failures, power failures, earthquakes, or other disasters.

11. General Rules of Auction:

• Any amendments or modifications to these terms must be in writing and signed by authorized representatives of both parties.
• All members must provide a deposit before placing a bid. All bids are legal and binding.
• A deposit of $500 or 5% of the max bid amount(whichever is greater), not to exceed $10000 will be required to bid. In the event the high bidder does not purchase the asset, the entire deposit will be forfeited and the asset will be offered for sale to other bidders.
• Buyer has 5 business days to pay entire balance including buy fees and other applicable fees.
• Buyer cannot inspect the asset physically or with Quick Inspect AR after the sale date has closed until full balance is paid. Bidders can only view an asset before the final sale date, in person if applicable or “Quick Inspect AR”.
• The transfer of ownership can only happen to the name or company registered by Member and verified prior before the close of the sale. The winning bid cannot be transferred to another buyer.
• All bids are binding and cannot be deleted or retracted. If you feel that you have made an error, contact customer service to get written approval.
• All bidders must sign a release of liability waiver for themselves of any other party that will view the assets physically in person at the location.
• Buyer must remove asset from premise if needed or make arrangements with facility no later than 5 days after close of auction.
• Deposits must be made via wire or credit card depending on the assets and location of buyer.

Global Salvage Buyer (“Global Salvage Buyer”) 

Condition Report and Quick Inspect AR TERMS AND CONDITIONS

BY PURCHASING OR using a Global Salvage Buyer Condition Report and Quick Inspect AR services, you EXPRESSLY agree to be bound by these Terms and Conditions. If you do not agree with these terms and conditions you are prohibited from using a Global Salvage Buyer Condition Report.

Global Salvage Buyer reserves the right to amend these Terms and Conditions at any time without prior notice to you. These Terms and Conditions are in addition to:

• the most current version of the Global Salvage Buyer Website Terms of Service located at https://globalsalvagebuyer.com/terms-of-service/
• the most current version of the Global Salvage Buyer Privacy Policy located at https://globalsalvagebuyer.com/privacy-policy/
• the most current version of the Global Salvage Buyer Member Terms and Conditions located at https://globalsalvagebuyer.com/terms-and-conditions/all of which are incorporated herein and shall apply in accordance with their terms.

The Global Salvage Buyer Condition Report and Quick Inspect AR is for your convenience only. Global Salvage Buyer does not guarantee the accuracy of any Global Salvage Buyer Condition Report or Quick Inspect AR, and you acknowledge that any Global Salvage Buyer Condition Report and Quick Inspect AR may be inaccurate or incomplete. You are not and you should not rely on any Global Salvage Buyer Condition Report or Quick Inspect AR in deciding whether or how much to bid on a assets offered for sale through Global Salvage Buyer or for any other reason. It is solely your responsibility to ascertain, confirm, research, inspect, and investigate assets and any and all asset information prior to bidding on assets. ANY USE OF A Global Salvage Buyer CONDITION REPORT or Quick Inspect AR IS AT YOUR SOLE RISK AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, COMPLETENESS AND ACCURACY IS WITH YOU. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, Global Salvage Buyer CONDITION REPORTS and Quick Inspect AR ARE PROVIDED ON A STRICTLY “AS IS” AND “AS AVAILABLE” BASIS, WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, AND Global Salvage Buyer DISCLAIMS ALL WARRANTIES OF ANY KIND WITH RESPECT TO A Global Salvage Buyer CONDITION REPORT and Quick Inspect AR, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE.

To the maximum extent permitted by applicable law, you will indemnify, defend, and hold Global Salvage Buyer, its officers, directors, employees, representatives, agents, affiliates, subsidiaries, insurers, partners and asset sellers (collectively the “Global Salvage Buyer Indemnitees”) harmless from and against any and all claims, losses, damages, costs, liabilities, or expenses (including, but not limited to, attorney’s fees) in any manner arising from or related to the purchase, use or reliance upon any Global Salvage Buyer Condition report or Quick Inspect AR.

In addition, you irrevocably and unconditionally waive and release your rights to bring a claim against or recover from the “Global Salvage Buyer Indemnitees” any and all damages, losses, liabilities, costs, or expenses whether direct or indirect, known or unknown, or foreseen or unforeseen, in any manner arising from or related to the purchase, use or reliance upon any Global Salvage Buyer Condition Report or Quick Inspect AR.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL Global Salvage Buyer INDEMNITEES BE LIABLE FOR ANY PERSONAL INJURY, PROPERTY DAMAGE, OR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, LOSS OF REVENUE, OR ANY OTHER COMMERCIAL OR NON-COMMERCIAL DAMAGES OR LOSSES, IN ANY MANNER ARISING FROM OR RELATED TO THE PURCHASE, USE OR RELIANCE UPON ANY Global Salvage Buyer CONDITION REPORT or Quick Inspect AR. REGARDLESS OF THE THEORY OF LIABILITY (CONTRACT, TORT OR OTHERWISE), HOWSOEVER CAUSED AND EVEN IF Global Salvage Buyer INDEMNITEES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL Global Salvage Buyer INDEMNITEES’ TOTAL LIABILITY FOR ALL DAMAGES EXCEED THE AMOUNT OF FEES PAID BY YOU TO Global Salvage Buyer FOR THE Global Salvage Buyer CONDITION REPORT or Quick Inspect AR.

Global Salvage Buyer shall only accept orders for Global Salvage Buyer Condition Reports or Quick Inspect AR during normal business hours unless made online; all requests made outside of normal business hours shall be processed the following business day. All fees related to Global Salvage Buyer Condition Reports or Quick Inspect AR are subject to change without prior notice. You are solely responsible for ascertaining applicable fees prior to ordering any Global Salvage Buyer Condition Report or Quick Inspect AR.

Services of Global Salvage Buyer
Under the terms of this agreement (“Agreement”), Global Salvage Buyer offers you the use of the Global Salvage Sale Marketplace, which functions as a platform on which a seller (“Seller”) can list and advertise Equipment for sale to a potential buyer (“Buyer”). Global Salvage Buyer is not involved in the actual transaction between Buyers and Sellers, we are – other than an escrow agent – not an agent of the Buyer or Seller, and we do not take title to the Equipment/Assets at any point of the sales process. Any agreement reached between a Buyer and Seller with respect to the terms of sale for assets is solely between such Buyer and Seller. As a result, we have no control over and do not guarantee the quality, safety, or legality of listed assets, the truth or accuracy of Seller’s listings, the ability of Sellers to sell Equipment, the ability of Buyers to pay for Equipment, or that a Buyer or Seller will actually complete a transaction.

SELLER-SPECIFIC TERMS

The following seller-specific terms will apply if you, as a Seller, are selling assets on the Global Salvage Sale Marketplace. If you are acting as a Seller under this Agreement, then all obligations of the Seller set out herein are applicable to you.

• 2.1. ACCEPTANCE OF TERMS
  Before you attempt to sell any Equipment through the SalvageSale Marketplace, Global Salvage Buyer requires that you read and accept the SalvageSale Terms. BY PROVIDING A LISTING TO YOUR Global Salvage Buyer, SALES REPRESENTATIVE, YOU HEREBY REPRESENT THAT YOU HAVE READ, UNDERSTOOD AND ACCEPTED THE Global Salvage Buyer TERMS AND ALL OTHER TERMS AND CONDITIONS INCORPORATED HEREIN BY REFERENCE AND THAT YOU WILL BE LEGALLY AND FINANCIALLY RESPONSIBLE FOR YOUR USE OF THE Global Salvage Buyer MARKETPLACE AND SALE OF EQUIPMENT/ASSETS. If you choose not to accept the Global Salvage Buyer Terms, you may not list or sell Equipment/Assets by means of the Global Salvage Sale Marketplace. If you have any questions, please contact us.2.2. Listing Requirements
  When you list or have our agents list assets for sale on the Global Salvage Buyer Marketplace, you represent and warrant that you have the authority to sell such goods, free and clear of any liens, claims or other encumbrances. You further agree to use commercially reasonable efforts to supply accurate information for each listing (each, a “Listing”), and will be solely responsible for the listing information you provide. From the information you provide regarding the Assets, Global Salvage Buyer may prepare and send you the Listing for your review prior to posting on the Globals Salvage Buyer Marketplace, and if no response is received from you, the Listing will be deemed to be approved by you twenty-four (24) hours after being sent.2.3. Representations and Warranties
  You represent and warrant that: (a) no asset shall be fraudulent, stolen or counterfeit, (b) you are duly authorized to enter into this Agreement, (c) you are solvent and have not made any assignment, proposal or other proceeding for the benefit of your creditors, and (d) you own all right, title and interest in and to the Equipment/Asset and the Equipment is free and clear of all liens, claims or other encumbrances, except as otherwise disclosed by you to Global Salvage Buyer in writing.2.4. Seller Commission Fee
  For goods sold by a Seller on the Global Salvage Buyer Marketplace, Global Salvage Buyer will be paid a commission (deducted from the purchase price) equal to the negotiated percent  of the purchase price, unless otherwise agreed to between Global Salvage Buyer and the Seller in writing.2.5. Seller Lien Search Fee
  Global Salvage Buyer may carry out lien searches regarding the Seller and may charge the Seller a lien search fee equal to $100.00.2.6. General Fees
  You are responsible for paying all fees and penalties associated with using Global Salvage Buyer’ services and the Global Salvage Buyer Marketplace, as well as all applicable taxes, as set out in these Global Salvage Buyer Terms. Any fees payable by the Seller under this Agreement shall be deducted from the purchase price prior to such proceeds being sent to the Seller.2.7. Power of Attorney
  You hereby appoint Global Salvage Buyer and its authorized representatives as your attorney-in-fact for the sole purpose of executing a bill of sale, if required, to finalize the transfer of ownership from you to the Buyer. The Seller may nominate a loss adjuster to instruct Global Salvage Buyer on the Seller’s behalf in relation to the sale of the Equipment and to carry out the obligations of the Seller under this Agreement. Global Salvage Buyer shall carry out the instructions of any loss adjuster nominated by the Seller as if they were the instructions of the Seller.2.8. DISCLAIMER
  TO THE FULLEST EXTENT PERMITTED BY LAW, THE Global Salvage Buyer MARKETPLACE PROVIDED BY OR THROUGH Global Salvage Buyer IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
  2.9. LIMITATION OF LIABILITY
  TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT SHALL Global Salvage Buyer BE LIABLE FOR ANY SPECIAL, INDIRECT, PUNITIVE, COVER, INCIDENTAL OR CONSEQUENTIAL DAMAGES, HOWEVER CAUSED, WHETHER IN CONTRACT OR TORT OR UNDER ANY OTHER THEORY OF LIABILITY, INCLUDING LOSS OF REVENUE, PROFITS, OR BUSINESS, ANY LOSS OF GOODWILL OR REPUTATION, OR THE COSTS OF SUBSTITUTE GOODS OR SERVICES, EVEN IF Global Salvage Buyer OR AN AUTHORIZED REPRESENTATIVE THEREOF HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE TOTAL LIABILITY OF Global Salvage Buyer TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, PRODUCT LIABILITY OR OTHERWISE) ARISING FROM THIS AGREEMENT, THE SALE OF EQUIPMENT, OR YOUR USE OF THE SALVAGESALE MARKETPLACE EXCEED, IN THE AGGREGATE, THE TOTAL COMMISSION EARNED BY Global Salvage Buyer FROM THE LISTING(S) RELATED TO SUCH CLAIM.
  2.10. Indemnification
  You agree to defend, indemnify and hold harmless Global Salvage Buyer, its subsidiaries and affiliates, and each of their respective officers, directors, employees, agents, successors and assigns (“Indemnified Parties”) from and against any claim or demand (including reasonable attorneys’ and experts’ fees and costs) made by any third-party, including, but not limited to Buyers, due to or arising out of (a) your breach of this Agreement, (b) due to or arising from your failure to provide a proper (VAT) invoice and/or certificate of title for titled Equipment, where applicable, (c) your improper use of the Global Salvage Buyer Marketplace, (d) your violation of any law or the rights of a third party or (e) any breach of the representations, warranties or covenants set out in this Agreement. Global Salvage Buyer shall promptly notify you in writing of any threatened or actual claim or demand and reasonably cooperate with you to facilitate the settlement or defense thereof. You shall have sole control of the defense or settlement of any claim or demand, provided that Global Salvage Buyer, at its option and expense, may participate and appear on equal footing with you. You shall not settle any claim or demand without the written consent of the Indemnified Parties, with such consent not to be unreasonably withheld or delayed.
  2.11. Exclusive Listing
  The Global Salvage Buyer Marketplace shall be the exclusive listing site for Assets/Equipment and you shall not offer for sale or sell the Asset/Equipment in any other manner until the earlier of (a) the date such Equipment/Asset is sold via the Global Salvage Buyer Marketplace or (b) the date you withdraw the Asset/Equipment from the Global Salvage Buyer Marketplace (but in such event no less than ninety (180) days). By entering into an Agreement for use of the Global Salvage Buyer Marketplace and services, you hereby extend an irrevocable offer to sell the Equipment, as applicable, (a) to a Buyer who is the highest bidder and who meets or exceeds the Asking Price, as applicable, (b) to a Buyer who commits to purchase Equipment at the Buy Now Price; (c) to a Buyer who commits to purchase Equipment/Asset at price negotiated between you and the Buyer in a Make Offer Listing; or (d) a Buyer who you’ve selected pursuant to the Seller Bid Selection process. In the event a member  or non-member of Global Salvage Buyer that placed a bid or contacted Global Salvage Buyer directly via website, phone, text or email to inquire about an asset due to our listing, and the Listing is terminated and later found out that Seller and Buyer have completed a transaction, at that time you shall pay Global Salvage Buyer 25% of the estimated market value of Equipment as determined by Global Salvage Buyer.
  2.12. Termination, Rescission and Default
  Global Salvage Buyer shall have the right, in its sole discretion, to terminate this Agreement in whole or in part if (a) there are liens, claims or other encumbrances on or to any Equipment in addition to those already disclosed to Global Salvage Buyer, (b) your net proceeds are insufficient to discharge creditor claims and pay Global Salvage Buyer’ fees after title is cleared, (c) you are in breach of the Agreement, (d) you have provided inaccurate, fraudulent, outdated or incomplete information during the registration or listing process or thereafter, (e) you have violated applicable laws, regulations or third party rights, (f) Global Salvage Buyer believes in good faith that such action is reasonably necessary to protect the safety or property of other customers, Global Salvage Buyer personnel or third parties, or (g) termination is required for fraud prevention, risk assessment, security or investigation purposes. In the event of such termination, in addition to any other remedies available to Global Salvage Buyer, you shall pay Global Salvage Buyer any costs incurred by Global Salvage Buyer. In addition to the foregoing, in the event of a termination as a result of items (c), (d), (e), (f), or (g), you shall pay Global Salvage Buyer 25% of the estimated market value of Equipment as determined by Global Salvage Buyer.