Once the Buyer, Seller, and SWAPD Staff member have agreed to identical terms set within the Checkout Ticket for a specific underlying Transaction, and both have agreed to this Transaction Contract and SWAPD Terms of Service, these instructions shall constitute a binding agreement between all parties. Should it become necessary to add supplemental instructions, or to make any addition to, deletion from, or alteration to the Transaction Contract, all parties (Buyer, Seller, SWAPD.co) must mutually agree to such changes inside the Checkout Ticket. SWAPD reserves the right to reject any Supplemental Instructions and to terminate the Transaction at our own discretion, without any given reason.
Transaction Contract Agreements
Statements/Verification - The Buyer/Seller agree that all disclosures and communications regarding this Transaction Contract, the Transaction, and the Service shall be made on the Site, unless the parties make other arrangements set within the Checkout Ticket.
ID Verification - Buyer/Seller agrees to full identity verification, as described in our Terms of Service.
Audits - Buyer/Seller agrees to SWAPD audit procedures (if needed) and disclosures as described in our Terms of Service. Refusing or omitting an audit instantly voids any warranties on behalf of SWAPD.
Fees - Unless otherwise agreed upon by Buyer, Seller, and SWAPD Staff member in the Transaction/Checkout Ticket, the Seller agrees to pay the fees for SWAPD Services that are disclosed on our website at the time the completed Transaction Contract, as well as any other fees, including, without limitation, third party service fees (e.g., PayPal fees, bank wire fees, etc.). Once paid, SWAPD.co fees are nonrefundable, unless certain criteria are met, as described in our Terms of Service. SWAPD.co fees may change from time to time in SWAPD.co’s absolute and sole discretion.
Buyer Obligation - Within the Checkout Ticket, Buyer agrees to designate a payment method in accordance with SWAPD payment rules, and an account from which the purchase price will be obtained for the deposit into escrow. Depending on the amount of the Transaction and the currency selected for the Transaction, Buyer will remit the necessary funds via methods agreed within the Checkout Ticket. In the case of bank wire transfers, Buyer will initiate the wire to an account designated by SWAPD Staff on or before the date set forth in the Checkout Ticket. Regardless of the payment method, Buyer authorizes SKYNET, Inc./SWAPD.co staff agents to initiate credit or debit transactions, as applicable, to obtain the purchase price due for a Transaction and to initiate any debit or credit entries or reversals, as the case may be, as may be necessary to correct any error in a payment or transfer and to discharge Buyer’s obligations. SWAPD will deposit funds received from Buyer into an escrow account maintained by SKYNET Inc. In the case of last-minute mind changes on the Buyers’ behalf, the processed refund funds will not include merchant fee’s required to move the funds (e.g., bank fees, PayPal fees, etc.). Upon receiving the purchased property, Buyer agrees to uphold to the grace period set within our Terms of Service. Buyer acknowledges that grace periods vary between each Transaction, depending on the amount, property type, and terms set within the Checkout Ticket. The Buyer agrees that returns are only applicable if the terms set within the Transaction details within the Checkout ticket weren’t met. In the event of a return request (buyer’s remorse) by the buyer, providing that all terms stated in the tickets were met by the seller, it will be the buyers responsibility to cover all SWAPD fees associated with the transfer, including money transfer fees, providing the seller agrees to release the buyer from the responsibility of the purchase. Buyer agrees that items/properties purchased via SWAPD self-hosted auctions are governed by the same rules set forth in this Transaction Contract, SWAPD Terms of Service, and the terms set on the auction page.
Seller Obligation - Within the Checkout Ticket, the Seller agrees to designate an account to which payment for the Transaction will be made, in accordance with SWAPD payment rules. Each Seller authorizes SWAPD and its authorized agents to initiate credit entries to such Seller’s account for payment of the purchase price (excluding SWAPD and money transfer fees), or applicable balance due, and to debit Seller’s account to discharge Seller’s obligations. Seller authorizes SWAPD to hold the Buyers funds on his behalf until the Transaction is complete, or as stated on the Checkout Ticket. Each Seller in a Transaction shall deliver the items set forth in Checkout Ticket directly to SWAPD Staff, or proceed by the terms and conditions set forth in the Transaction instructions set within the Checkout Ticket. Seller gives SWAPD.co permission to act as its agent in handling the property set within the Checkout Ticket. In the event of a return of the items by Buyer (in case of untruthful/misleading listings), SWAPD will secure the property and return it to the Seller, unless otherwise agreed on within the Checkout Ticket. In the event of a returned item/property, SWAPD.co shall remit the escrowed funds to Buyer. If Seller notifies SWAPD of its non-acceptance of any returned items within the Buyers grace period, then SWAPD.co will retain the funds pending resolution of the dispute or take other action as authorized. Seller confirms and accepts that payment transit times, upon a successful closing of a Transaction, will vary and won’t be exact, especially payments issued via bank wires. Seller agrees to pay 23% VAT (Reverse Charge) on all invoices requested from SWAPD (only applicable to businesses registered within the European Union) Seller agrees that items/properties sold via SWAPD self-hosted auctions are governed by the same rules set forth in this Transaction Contract, SWAPD Terms of Service, and the terms set on the auction page.
SWAPD Liability - TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE BUYER/SELLER AGREE THAT NEITHER SWAPD.CO NOR ITS AFFILIATES SHALL BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL, RELATING TO YOUR USE OF THE SITE OR THE SERVICES OR YOUR INABILITY TO USE THE SITE OR THE SERVICES. THIS DISCLAIMER ALSO INCLUDES ITEMS OBTAINED THROUGH THE USE OF OUR SERVICES, AS OUTLINED IN OUR TERMS OF SERVICE. BY CONTINUING WITH THE CHECKOUT TICKET, THE BUYER AND SELLER AGREE TO ABIDE BY SWAPD TERMS OF SERVICE, THIS TRANSACTION CONTRACT, AND THE TERMS SET WITHIN THE TICKET.
Buyer/Seller acknowledges and agrees that SWAPD.co does not endorse the website of any third party, or assume responsibility or liability for the accuracy of any material contained therein, or any infringement of third party intellectual property rights arising therefrom, or any fraud or other crime facilitated thereby. Buyer/Seller agree that in no event will SWAPD.co be liable for any act or omission of any third party, including, but not limited to, your financial institution, any payment system, any third party service provider, any provider of telecommunications services, Internet access or computer equipment or software, any mail or delivery service or any payment or for any circumstances beyond SWAPD.co’s control.
Buyer/Seller agrees that SWAPD.co reserves the right to change this Transaction Contract, or any portion of it, at any time, without prior notice, provided that no such change will apply to a Transaction once the Users to such Transaction have agreed to the Transaction Contract.