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Terms & Conditions - Cyprus

Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales Online Auction Terms and Conditions.

DEFINITIONS

  • Singular words can be read as plurals, and plurals as singular words;
  • A ‘person’ includes a corporate body, a natural person, corporate or unincorporated body (whether or not having separate legal personality);
  • Words of one gender include the other genders;
  • References to legislation are to that legislation as it may have been modified or re-enacted by the date of the Online Auction or the contract date (as applicable);
  • The descriptive headings are included for convenience only, have no legal effect and shall be ignored in the interpretation of this Agreement;
  • The words 'include', 'includes' and 'including' or similar words are deemed to be followed by the words 'without limitation';
  • An obligation not to do something includes an obligation not to cause or allow that thing to be done; and
  • BidX1, we, our or us is used throughout this document to refer to the limited liability company of Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales and its servants or agents or any successors or assigns.

 

Actual Completion Date

The date when Completion takes place or is treated as taking place for the purposes of apportionment and calculating.

 

Addendum

An amendment or addition to the CONDITIONS OF SALE or to the PARTICULARS or to both noted on the addendum tab on the property page on our website.

An addendum, if applicable, will be available before the auction. This document will detail any corrections, amendments and/or additions made to the particulars contained on the website for any of the Lots. It will be assumed that you have read the addendum and have satisfied yourself as to the context and implications of any addendum item relating to any Lot you are interested in before bidding.

 

Agreed Completion Date

The date specified in the Contract of Sale.

 

Approved Financial Institution

Any bank or building society that is acceptable to the Auctioneers.

 

Auction Conduct Conditions

The conditions so headed, including any extra Auction Conduct Conditions.

 

Auctioneers

The Auctioneers at the Online Auction being Islanders Estate Agencies Limited, trading as BidX1 Cyprus Sales, a limited liability company registered in the Republic of Cyprus with company number 343350, whose registered office is at 36 Aigyptou, 6030 Larnaca, Cyprus.

 

Authorisation

The authorisation that you will provide to BidX1 upon your registration to bid for a particular Lot to complete and sign on your behalf a legally binding reservation agreement (as defined at paragraph 3 of the Process Overview Summary section) in relation to the sale of the property.

 

Bidding Period

Bidding for the Property will close at the designated closing time, unless a valid bid is made within the final 60 seconds of the designated closing time. The designated closing time is the initial closing time for the property and can be seen on the property details page on our website. If a valid bid is made within the final 60 seconds of the designated closing time an additional 60 seconds will be added to the designated closing time for that property. This is known as an extension. In relation to all valid bids made within 60 seconds of the designated closing time the clock will time out to zero before the full 60 second extension is added. If a valid bid is made during a further extension for that property, the clock will immediately reset to 60 seconds. There is no limit to the number of possible further extensions.

Bidding will close when no further valid bids are made within the final 60 seconds of the closing time.

 

Bidder Security

The following bidder security is required for all properties:

Reserve Value Range   -    Bidding Deposit Amount

€1 < €50, 000                                  €2,000

€50,001 - €100,000                         €3,000 

€100,001 - €300,000                       €4,500 

€300,001 - €500,000                       €7,000 

€500,001  - Max                              €10,000 

The bidder security must be paid in advance of the Online Auction date by credit card, debit card or bank transfer. Bidders will be required to insert their card details once they have selected to register for the property. The payment will be processed by Stripe (www.stripe.com ). The payment will be processed by Stripe (www.stripe.com). Funds from cards will be taken and can be paid once you have registered with us but must be paid prior to the Online Auction. The payment will be processed by Stripe (www.stripe.com).

N.B. - Your bidder security will immediately become non-refundable if your offer is the successful bid.

 

Business Day

Any day (other than a Saturday, Sunday or a public holiday) when banks in Nicosia are open for business.

 

Completion

Unless otherwise agreed between the Vendor and Purchaser (or their lawyers or legal advisors) the occasion when both the Vendor and Purchaser have complied with their obligations under the Contract of Sale and the balance of the Purchaser Price is unconditionally received in the Vendor’s bank account.

 

Condition, Inspection and Vacant Possession

It is strongly recommended that, as a prudent Purchaser, you make every effort to physically inspect the Lot and where possible arrange to have it professionally surveyed prior to the Online Auction.

If you want to inspect the Lot before the Online Auction, it may be possible to arrange this with the Auctioneers on prior notice and you should contact them in advance of the Online Auction date if no viewing times are noted on the website.

Keys to Lots that are offered for sale with vacant possession will normally be made available to you on completion of the sale. However, access to the Lot for the purpose of inspection and/or carrying out a survey might be available prior to completion subject to obtaining the Vendor’s permission (you should approach the Auctioneers about this).

 

Conditions of Sale

One of the ONLINE AUCTION CONDUCT CONDITIONS and/or CONDITIONS OF THE RESERVATION AGREEMENT and/or CONDITIONS OF CONTRACT OF SALE and/or any other legal document relating to the sale of the Lot.

You will become legally bound by the Conditions of Sale applicable to a Lot from the moment that you are successful. A successful bid is one where the bidding period closes and the Purchaser's bid is (by operation of the website) accepted by the Auctioneers on behalf of the Vendor (subject to and in accordance with the Online Auction conduct conditions) as being the highest valid bid for the relevant Lot at that time which has met or exceeded the reserve price. A bid, even if it is the highest valid bid for a Lot, will not be successful if the reserve price has not been met.

 

Contract of Sale

The contract available prior to the Online Auction under which the Vendor agrees to sell and the Purchaser agrees to buy the Lot and includes the authorisation to BidX1 to fill in and sign the Reservation Agreement.

 

Contract Date

The date of the ONLINE AUCTION or, if the LOT is not sold at the ONLINE AUCTION,

  1. the date the Reservation Agreement is signed by BidX1 for and on behalf of both the VENDOR and PURCHASER; or
  2. if contracts are exchanged, the date of exchange. If exchange is not effected in person or by an irrevocable agreement to exchange made by telephone, fax or electronic mail the date of exchange is the date on which both parts have been signed and posted or otherwise placed beyond normal retrieval.

 

Deposit

The deposit is the sum you must pay to the Vendor upon acceptance by the Auctioneer of your bid as a guarantee that you will proceed to completion of the purchase.

If completion takes place without dispute, the deposit so paid becomes part payment of the purchase price.

 

DEPOSITS MUST BE PAID IN EUROS.

A deposit taken as agent for the Vendor effectively belongs to the Vendor as soon as it is paid and will be released to him, net of Auctioneer fees, after the auction without further reference to you. You may have a right to recover it from the Vendor if the Vendor fails to complete.

A deposit taken by the Auctioneers as agent and not as stakeholder will be held in the Auctioneers client account until completion, or until it is sent to the VendorThe auctioneers are entitled to keep interest (if any) earned on the deposit during the time it is held by them.

The minimum deposit WE accept is:

Reserve Value Range   -    Bidding Deposit Amount

€1 < €50, 000                                  €2,000

€50,001 - €100,000                         €3,000 

€100,001 - €300,000                       €4,500 

€300,001 - €500,000                       €7,000 

€500,001  - Max                              €10,000 

A specific condition in the contract of sale or any other legal document may, however, require a higher minimum deposit. The bidder security will be used as payment toward the applicable deposit. Successful bidders must pay the balance of the 10% deposit of the total purchase price (if applicable) to the Vendor, in the manner set out in the contracts located at the “Legals” section of each Lot. This can be paid by Electronic Funds Transfer (EFT) or bank transfer only.

You are at risk of losing the deposit paid on a Lot, and at risk of the Vendor taking legal action against you for breach of contract, if you fail to complete your purchase of the Lot.

If you buy more than one Lot, you will need to pay a separate bidder security and deposit for each Lot.

 

Designated Closing Time

This is the initial closing time for the property and can be seen on the relevant property details page on our website.

 

Estate Agents

The Estate Agents for the Online Auction are Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales, a limited company registered in Cyprus with company number HE343350, whose registered office is at 36 Aigyptou, 6030 Larnaca, Cyprus with registration number 799 and license number 376/E.

 

Extension

This is where a valid bid is made within the final 60 seconds of the designated closing time. If this takes place an additional 60 seconds will be added to the designated closing time for that property. The clock will time out to zero before the full 60 second extension is added.

 

Further Extension

If a valid bid is made during an extension for that property the clock will immediately reset to 60 seconds. There is no limit to the number of possible further extensions.

 

Interest Rate

If not specified in the Contract of Sale, 4% above the Court Rate set out in article 33 of the Courts of Justice Law 1960 (Law 14/1960) as amended (the Interest Rate will also apply to judgment debts, if applicable).

 

Legal Documents

Documents of title and other documents listed or referred to in the Reservation Agreement and/or Contract of Sale or other legal documents relating to the Lot.

 

Lot

Each separate property described or (as the case may be) the property that the Vendor has agreed to sell and the Purchaser has agreed to buy.

 

Max Bid Amount

This is a maximum bid placed by you for a Lot at the Online Auction.

If your Max Bid is below the Reserve Price a bid will automatically be placed for your Max Bid amount, assuming no counter bids have already been placed for an amount greater than or equal to your Max Bid.

If your Max Bid is equal to the Reserve Price a bid will automatically be placed for your Max Bid amount, i.e. the Reserve Price, assuming no counter bids have already been placed for an amount greater than or equal to your Max Bid.

If your Max Bid is greater than the Reserve Price a bid will automatically be placed for you at the Reserve Price, assuming no counter bids have already been placed for an amount greater than or equal to the Reserve Price. If such a counter bid has been placed, the system will bid for you in the applicable bidding increment amount until a bid exceeds your Max Bid amount.

 

Misrepresentations

The purchaser accepts that no information, statement, description, quantity or measurement contained in any advertisements or given orally or contained in any brochure, catalogue, letter, report, docket or hand out issued by or on behalf of the Vendor or any agent acting on behalf of the Vendor in respect of the Property (whether or not in the course of any representation or negotiations leading to the Online Auction date) shall constitute a representation inducing the purchaser to bid on the Online Auction date or a condition or warranty forming part of the conditions of sale. Any information, statement, description, quantity or measurements so given or contained in any such advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendor or any agent on its behalf are for illustration purposes only and are not to be taken as matters of fact and that any mistake, omission, inaccuracy or mis-description given orally or in the form of any advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendor or any of its agents (whether or not in the course of any representation or negotiations leading to the Online Auction date) shall not give rise to any right of action, claim, entitlement or compensation against or from the Vendor or any of its agents under this agreement or otherwise or any right of residue of termination.

For the avoidance of doubt, the parties acknowledge that any previous agreement which may have been entered into by the Vendor and the Purchaser relating to the Property is rescinded.

Any statement, representation or warranty whatsoever made by the Vendor, agent or employees during the course of negotiations leading to the sale which are not contained and set forth in the conditions of sale are hereby treated as having been withdrawn and will have no force or effect at law whatsoever.

 

Mortgage

A charge to secure a loan or other financial indebtedness.

 

Online Auction

The Online Auction advertised on the website.

 

Online Auction Conduct Conditions

The conditions so headed.

 

Particulars

The section of the website that contains descriptions of each Lot (as varied by any Addendum).

 

Plans and Photographs

The plans and photographs shown on the website are included in order to assist you in locating the Lot in question. They are not necessarily drawn to scale and any arrows or outlines on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries. The Auctioneers cannot guarantee that any plans or photographs show the up-to-date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.

 

Property

The property that the vendor is proposing to sell and the purchaser is seeking to buy .

 

Purchaser

The person who has agreed to buy the Lot or, if applicable, that person’s personal representatives: if two or more persons are jointly the Purchaser all obligations can be enforced against them jointly or against each of them separately.

 

Purchase Price

The price that the Purchaser agrees to pay and the Vendor agrees to accept for the Lot or, if the Lot is not sold at the Online Auction, the price agreed between the Purchaser and the Vendor for the Lot (exclusive VAT, unless otherwise agreed in writing).

 

Ready to Complete

Ready, willing and able to complete: if the proceeds of sale for the Lot would enable the Vendor to discharge all Mortgages secured on the Lot that have to be discharged by Completion, then those outstanding Mortgages do not prevent the Vendor from being Ready to Complete.

 

Rents and Information Relating to Tenants

Estimates or suggestions given by the Auctioneers as to current or future rental values affecting any Lot or as to the current or future open market rental value of the whole or any part of the Lot must not be treated as valuations but only as estimates. You should consult your own professional advisers to establish whether such estimates or suggestions are accurate.

 

Reserve Price

The Auctioneers have not carried out valuations of any of the Lots in the auction. Consequently, you should not treat any reserve price that is published in respect of a Lot nor any estimate or suggestion as to the price for which a Lot may be sold or price that you might consider bidding for a Lot as being a valuation for that Lot. It is your responsibility to decide how much you should bid for any Lot.

The reserve price is the lowest price that the Vendor is prepared to accept for the property. If the bidding does not reach the reserve price the Vendor is not required to sell the property. The reserve price itself will not be disclosed.

 

Successful Bid

A successful bid is one where the bidding period closes and the purchaser's bid is (by operation of the website) accepted by BidX1 on behalf of the Vendor (subject to and in accordance with the Online Auction conduct conditions) as being the highest valid bid for the relevant property at that time which has met or exceeded the reserve price.

 

Tenancies

All tenancies, leases, licenses to occupy and agreements for lease and any documents varying or supplemental to them.

 

Tenancy Schedule

The Tenancy Schedule (if any) contained in the Contract of Sale.

 

Transfer

Includes a conveyance or assignment (and to Transfer includes to convey or to assign).

 

Valid Bid

A bid recorded and accepted by the system prior to the closing time for a Lot.

 

VAT

Value Added Tax or other tax of a similar nature.

 

Vendor

The person selling the Lot. If two or more persons are jointly the Vendor their obligations can be enforced against them jointly or against each of them separately.

 

We (And Us And Our)

The Auctioneers.

 

Website

www.BidX1.com

 

You (And Your)

Someone who has registered to bid at the Online Auction, whether or not a Purchaser.

 

1. PROCESS SUMMARY - OVERVIEW

1. A bidder security is required to bid and this must be paid in advance of the Online Auction by credit card, debit card or bank transfer. The required bidder security is as follows:

 

Reserve Value Range   -    Bidding Deposit Amount

€1 < €50, 000                                  €2,000

€50,001 - €100,000                         €3,000 

€100,001 - €300,000                       €4,500 

€300,001 - €500,000                       €7,000 

€500,001  - Max                              €10,000 

 

If paying by card, bidders will be required to insert their card details once they have selected to register for the property. The payment will be processed by Stripe (www.stripe.com). Funds from cards will be taken and can be paid once you have registered with us but must be paid prior to the Online Auction. Cash or cheque deposits are not acceptable.

 

2. At registration you will be required to confirm your acceptance that, as this is a sale by auction of property, you will be legally bound by the Conditions of Sale and/or any other agreement, such as the Authorisation and/or a reservation agreement and/or a contract of sale, that is available in the “Legals” section of each relevant Lot page from the time the bidding period closes if your bid has been (by operation of the website) accepted by BidX1 on behalf of the Vendor as being the successful bid, i.e. the highest valid bid for the relevant Lot at that time which has met or exceeded the reserve price. A bid, even if it is the highest valid bid for a Lot, will not be successful if the reserve price has not been met.

 

3. At registration you will also be required to authorise BidX1 to complete and sign on your behalf a legally binding reservation agreement (Reservation Agreement) that will be available in the “Legals” section of each relevant Lot page, relating to the purchase of the property on your behalf on the day of the Online Auction.

 

4. All bidding takes place online. Once registration is approved by BidX1, and the bidder security has been paid, registrants can submit bids by clicking the “place instant bid” button on the Lot page for each property or by submitting a MAX BID amount once the bidding period opens for that Lot.

 

5. BidX1 will use reasonable endeavours to move a bidder security from one Lot to another Lot if requested by a bidder. A request to move a bidder security can only be actioned once the time period for the original Lot you registered for has closed. An email must be sent to deposit@cy.BidX1.com requesting that your bidder security is moved from Lot X to Lot Y. BidX1 accept no responsibility whatsoever to bidders if we are unable to move a bidder security from one Lot to another as per a bidder request. BidX1 may be unable to move bidder security amounts if, for example, closing times for Lots are too close together or during busy periods.

 

6. The bidding increments are set by BidX1 (e.g. €1,000 per bid). However, bidders have the option to increase these increments to make a higher bid.

 

7. If two or more parties leave identical bids, the first valid bid as per the system will take precedence. In circumstances where a Max Bid amount has been placed prior to a bidder placing an instant bid the MAX BID amount takes precedence.

 

8. You cannot cancel a bid once it has been submitted. You may adjust a Max Bid entered (on an upwards only basis) in situations where the current bidding is still below your submitted Max Bid amount.

 

9. Your bidder security will immediately become non-refundable if you make the successful bid for a property at the Online Auction.

 

10. Notwithstanding the preceding paragraph 10, If the Purchaser is an alien, as defined in the Immovable Property Acquisition (Aliens) Law, CAP. 109 who has duly filed the application and submitted all necessary documents and/or forms, in form and substance, to the satisfaction of the Vendor, before the Council of Ministers and/or any other competent authority to which the Council of Ministers may have delegated its authority), for the purpose of obtaining any necessary permission under the Immovable Property Acquisition (Aliens) Law, CAP. 109, and nevertheless, the Council of Ministers, and/or any other competent authority, has refused to consent and provide the required permission to the Purchaser for the purposes of the Immovable Property Acquisition (Aliens) Law, CAP. 109, as amended, the bidder security will be refundable.

 

11. Your bidder security shall be used as a part payment towards the Contract of Sale deposit payable.

 

12. By paying the bidder security and/or the deposit, you understand, confirm and accept that you will provide to the Vendor upon the Vendor’s and/or the Vendor’s agent request, and/or in accordance with the terms of the Reservation Agreement and/or the Contract of Sale all the information and/or documentation required for the purposes of Know Your Customer and Source of Funds checks, pursuant to anti-money laundering laws and regulations. Within 2 (two) business days of receiving the Vendor’s written notification that all the required information and/or documentation has been received to its satisfaction, successful bidders must pay the balance of the 10% deposit (if applicable).

              12.1. More specifically, you must provide to the Vendor, within 5 (five) Business Days from the date the Reservation Agreement is signed (the “KYC Receipt Date”) all documents and information that may be requested by the Vendor for the purposes of complying with any applicable know-your-customer and/or anti-money laundering laws and regulations and/or the requirements of any regulatory authority and/or its internal practices and/or with any other applicable law and regulation (the “Initial KYC Documents”); and

              12.2 provide to the Vendor, within 2 (two) Business Days of the receipt of the Vendor’s request (in writing or otherwise) (such request to be provided within 5 (five) Business Days from the KYC Receipt Day) such additional documents and/or information that the Vendor may, in its absolute discretion, require in order to comply with any applicable know-your-customer and/or anti-money laundering laws and regulations and/or the requirements of any regulatory authority and/or its internal practices and/or with any other applicable law and regulation.

 

13. If you are successful, or not, you will be notified by email after the Lot closes.

 

14. If you are successful, and in accordance with the Authorisation you provided on registration, BidX1 will complete the purchaser’s details and purchase price and sign a legally binding Reservation Agreement relating to the sale and purchase of the property on behalf of the Vendor and on your behalf.

 

15. Once the Reservation Agreement, has been signed by BidX1 on behalf of both parties it will be sent to the lawyers or professional advisers for the Vendor and the Purchaser and in case you do not appoint lawyers or professional advisers, directly to you.

 

16. You are at risk of losing the bidder security or the deposit you have paid on a Lot, and at risk of the Vendor taking legal action against you for breach of contract, if you fail to complete your purchase of the Lot.

 

17. If you bid for more than one Lot, you will need to pay a separate bidder security and deposit for each Lot.

 

18. If you are not the successful party your bidder security will be refunded by BidX1 in full within 7 business days of the Online Auction, without interest.

 

19. An Addendum (if applicable) to the particulars and/or the Conditions of Sale will be made available on the relevant Lot page on our website.

 

20. The Addendum is an important document which provides details of all corrections to the particulars and/or the Conditions of Sale.

 

21. The Authorisation will be made available on the relevant Lot page on our website which outlines details of the authority that will be provided on registration, for BidX1 to fill in and sign a legally binding contract relating to the sale of the property on your behalf.

 

22. All bidders are deemed to have read the Addendum, the Authorisation and any other agreement or document that have been made available on our website and have received independent legal advice by their lawyers, whether they have actually done so or not.

 

2. PROCESS SUMMARY - GENERAL

These notes, the Online Auction Conduct Conditions, together with any other conditions, documents or matters affecting the Lot you are interested in should be read and considered carefully. Whilst the Vendors of the Lots described in this catalogue have used reasonable efforts to ensure that Lots are correctly described, we strongly recommend that you appoint professional advisers including independent legal advisers and arrange for them to consider and advise you on all aspects of your intended purchase.

 

Prior to submitting an offer you must review the Authorisation, the Reservation Agreement, the Contract of Sale and supporting title documentation (“legal documents”). The legal documents for the property can be viewed on our website. It is your responsibility to carry out your own due diligence and investigate all matters relating to the property that you are interested in purchasing, including, without limitation, legal matters, physical condition and all other aspects. All offers you make should be based solely on your independent due diligence. It will be assumed that you have read and considered all relevant documents for the Property you are interested in on or before the date of the Online Auction, that you have shown them to your professional advisers and have taken their professional advice before bidding.

N.B. - ALL DEPOSITS MUST BE PAID IN EUROS

 

IN THE CASE THAT THE BIDDING DEPOSIT IS TRANSFERRED FROM FOREIGN CURRENCY TO EURO, THE FULL BIDDING DEPOSIT MUST BE RECEIVED BY BIDX1 IN EUROS. BIDX1 SHALL NOT BE LIABLE FOR ANY FOREIGN EXCHANGE GAINS OR LOSSES SUFFERED BY THE INTERESTED PARTY BETWEEN THE DATE OF TRANSFER AND DATE OF REFUND OF THE BIDDING DEPOSIT

 

CHANGES TO THIS DOCUMENT

The contents of this document may be changed from time to time. As a result, as well as being asked to confirm acceptance of these terms and conditions when you first register to bid on our website, you may also be asked to re- confirm your acceptance (with reference to the latest version of this document then published on this website) on future visits to this website, in particular prior to participation in any specific Online Auction.

 

IMPORTANT NOTE – IF YOU ARE NOT THE INTENDED PURCHASER

 

If you, as the person using our website, participate in any Online Auction on behalf of another person (as the intended Purchaser of a particular property or "Lot"), the legal effect of you doing so is as follows: -

 

  • You will be responsible, in your own name and not simply as agent for a third-party Purchaser, for ensuring compliance with all obligations in this Online Auction terms and conditions document relating to use of this website and/or participation as a bidder in any Online Auction;

 

  • You must ensure that you have all necessary authority to act on behalf of, and contractually bind and commit, the relevant Purchaser to all obligations set out or referred to in this Online Auction terms and conditions document which expressly or by implication apply to Purchasers. This includes authority to authorise us, the auctioneers, to enter into a legally binding contract relating to the sale on behalf of the relevant Purchaser where you successfully bid for a property on the Purchaser's behalf;

 

  • If for any reason the person identified by you as being the (intended) Purchaser fails to comply with any obligations which expressly or by implication apply to the Purchaser (including any situation in which the (intended) Purchaser disputes your authority to act and/or contract on its behalf for these purposes), you will be responsible to us for any loss we or any Vendor suffers as a result of that failure. This includes any failure to comply with obligations relating to the purchase of any property for which you successfully bid via an Online Auction.

 

LEGAL DOCUMENTS

If you wish to receive legal documents and/or if you have detailed legal enquiries in respect of any Lot, please contact the relevant Vendor’s lawyers or legal advisors whose details appear on the individual Lot pages.

Copies of those legal documents that are produced to us will be available to read online and/or to download. 

Please go to our website www.BidX1.com  for further details.

 

PURCHASER’S GUIDE TO AUCTIONS

We sell each Lot on the basis that prospective Purchasers have made all their enquiries and are satisfied, or not as the case may be, as a result of such enquiries and that they have read the Notices on our website, the Conditions of Sale and any other relevant document and fully understand their content.

PLEASE NOTE: If you still have a question in your mind in respect of any of the Lots within the catalogue please contact a representative of the Auctioneers who will do his or her best to obtain an answer for you prior to the Online Auction. If you are not sure which Lot you are bidding for, please do not bid.

 

REGISTRATION & BIDDING

In order to be able to register for and bid in the Online Auction, you must first create a BidX1 Online Auction account at www.BidX1.com. Once this is done you can sign in with your username (email address) and password and then subsequently register for the particular property you wish to bid on.

 

As part of the registration process all bidders will be required to provide their contact information (including name and address, email address and telephone number), the name of the Purchaser, (please note that you must specifically name the person or organisation that is to be the Purchaser of the Lot as Lots cannot be Transferred to an unnamed Purchaser and any references to ‘nominees’, ‘associates’ or similar are unacceptable).

 

You will be required to upload a copy of photo identification such as your passport or driving licence and, in addition, upload proof of your address such as a utility bill or bank statement (dated within the last 12 months) and a selfie These information as well as any other information provided to us for the purposes of Know Your Customer and Source of Funds checks, including a world check report, will be forwarded to the Vendor if you are the successful bidder. Therefore, by accepting these Online Auctions terms and conditions, you consent to us making available this information to the Vendor if you are the successful bidder.

Our Privacy Policy, which sets out the terms on which we process any personal data we collect from you, or that you provide to us, is contained on our website or available upon request.

 

You will be required to pay your bidder security (the bidder security amount payable will depend on the reserve price of the property).

 

You will also be required to authorise BidX1 to sign legally binding contracts for the sale of the property on your behalf or, if applicable, on behalf of the intended Purchaser.

 

Once the above is done BidX1 will review your registration and you will be notified when your registration has been approved. BidX1 has the right to refuse any registration for any reason and is under no obligation to explain the reasons for its refusal.

 

All bidding takes place online. Once registration is approved by BidX1, the bidder security has been paid and the bidding period has opened for the Lot you are interested in, registrants can submit a “Max Bid amount” or bid by clicking the “place instant bid” button on the Property page on our website.

The bidding increments will be set by BidX1 (e.g. €1,000).

 

The designated closing time is the initial closing time for the property and can be seen on the property details page on our website. If a valid bid is made within the final 60 seconds of the designated closing time an additional 60 seconds will be added to the designated closing time for that property. This is known as an extension. In relation to all valid bids made within 60 seconds of the designated closing time the clock will time out to zero before the full 60 second extension is added. If a valid bid is made during a further extension for that property, the clock will immediately reset to 60 seconds. There is no limit to the number of possible further extensions.

 

If two or more parties place identical bids the first valid bid as per the system takes precedence. In circumstances where a Max Bid amount has been placed prior to a party placing an instant bid the Max Bid amount takes precedence.

 

You cannot cancel a bid once it has been submitted. If you are successful, or not, you will be notified by email after the bidding for the Property closes by BidX1.

 

RESERVE PRICE

The auctioneers have not carried out valuations of any of the Lots in the auction. Consequently, you should not treat any reserve price that is published in respect of a Lot nor any estimate or suggestion as to the price for which a Lot may be sold or price that you might consider bidding for a Lot as being a valuation for that Lot. It is your responsibility to decide how much you should bid for any Lot.

 

The reserve price is the lowest price that the Vendor is prepared to accept for the property. If the bidding does not reach the reserve price the Vendor is not required to sell the property.

 

VIEWINGS

If you wish to inspect a property internally before the Auction, please go to our website www.BidX1.com for further details.

 

3. ONLINE AUCTION CONDUCT CONDITIONS

A1.      INTRODUCTION

A1.1    Particulars for properties are issued only on the basis that you accept these Online Auction Conduct Conditions. They govern our relationship with you and cannot be disapplied or varied by the conditions of the Contract of Sale (even by a Condition purporting to replace the whole of these Conditions). They can be varied only if we agree in writing.

 

A2.      OUR ROLE

A2.1    As agents for each Vendor we have authority to:

A) prepare the particulars from information supplied by or on behalf of each Vendor;

B) offer each Lot for sale;

C) sell each Lot;

D) receive and hold the bidder security and deposit as agent for the Vendor;

E) sign contracts as agents for the Vendor; and

F) treat a contract as repudiated if the purchaser fails to pay a deposit as required by these Online Auction Conduct Conditions

 

A2.2    Our decision on the conduct of the Online Auction is final.

 

A2.3    We have the right to restrict or cancel your right to bid unless You provide such evidence of Your identity and other information as WE require from all bidders.

 

A2.4    We may cancel the Online Auction or alter the order in which Lots are offered for sale. We may also combine or divide Lots. A Lot may be sold or withdrawn from sale prior to the Online Auction of that property.

 

A2.5    You acknowledge that to the extent permitted by law we owe you no duty of care and you have no claim against us for any loss.

 

A2.6    You acknowledge that BidX1 will use reasonable endeavours to provide Online Auction facilities. In the event of an issue arising with the Online Auction, which materially affects the viability of the process, BidX1 reserve the right to, but for the avoidance of doubt are not obliged to, suspend or cancel the Online Auction. BidX1 further reserve the right to declare all results of the Online Auction as being null and void without any liability attaching to BidX1 whether under this agreement, at common law or otherwise. A non-exhaustive list of potential issues which may occur (at your end or otherwise) include failures with internet connectivity, servers or software. If feasible in the circumstances, BidX1 will use all reasonable endeavours to restart the Online Auction as soon as possible. Please note that, in all such situations, the Auctioneer’s decision is final.

 

A2.7    In the event that You experience connectivity issues (examples of which shall include intermittent losses or complete failures of internet connectivity) during the bidding process You accept that no liability for such issues attach to BidX1 or the Vendor. Further, in such circumstances, You accept that You shall have no recourse against BidX1 or the Vendor for any special, indirect, consequential, or incidental loss, including loss of profits, revenue or goodwill attributable thereto whether arising in contract, tort, by operation of law, or otherwise, even if BidX1 or the Vendor has been placed on notice of the possibility of such damages.

 

A2.8    To the fullest extent permitted by applicable law, BidX1 shall not be liable to You for any special, indirect, consequential,   or incidental loss, including loss of profits, revenue or goodwill, arising from, or attributable to, this Agreement and/or OUR performance hereunder, whether arising in contract, tort, by operation of law, or otherwise, even if BidX1 has been placed on notice of the possibility of such damages.

 

A3.      THE PARTICULARS AND OTHER INFORMATION

A3.1    We have taken reasonable care to prepare particulars that correctly describe each Lot. The particulars are based on information supplied by or on behalf of the Vendor. You need to check that the information in the particulars is correct. We strongly recommend that you appoint professional advisers, including independent legal advisers, and arrange for them to consider and advise you on all aspects of your intended purchase. All offers you make should be based solely on your independent due diligence. It will be assumed that you have read and considered all relevant documents for the Property you are interested in on or before the date of the Online Auction, that you have shown them to your professional advisers and have taken their professional advice before bidding.

A3.2    If the conditions of sale do not contain a description of the Lot, or simply refer to the relevant Lot number, you take the risk that the description contained in the particulars is incomplete or inaccurate, as the particulars have not been prepared by a lawyer or legal professional and are not intended to form part of a legal contract.

 

A3.3    The particulars and the conditions of sale may change prior to the Online Auction and it is your responsibility to check that you have the correct versions.

 

A3.4    If we provide information, or a copy of a document, provided by others we do so only on the basis that we are not responsible for the accuracy of that information or document.

 

A3.5    You accept that no information, statement, description, quantity or measurement contained in any advertisements or given orally or contained in any brochure, catalogue, letter, report, docket or hand out issued by or on behalf of the Vendor or any agent acting on behalf of the Vendor in respect of the Property (whether or not in the course of any representation or negotiations leading to the Online Auction date) shall constitute a representation inducing you to bid on the Online Auction date or a condition or warranty forming part of the conditions of sale. Any information, statement, description, quantity or measurements so given or contained in any such advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendor or any agent on its behalf are for illustration purposes only and are not to be taken as matters of fact and that any mistake, omission, inaccuracy or mis-description given orally or in the form of any advertisement, brochure, catalogue, letter, report or hand out issued by or on behalf of the Vendor or any of its agents (whether or not in the course of any representation or negotiations leading to the Online Auction date) shall not give rise to any right of action, claim, entitlement or compensation against or from the Vendor or any of its agents under this agreement or otherwise or any right of residue of termination.

 

A3.6    For the avoidance of doubt, you acknowledge that any previous agreement which may have been entered into by the Vendor and you relating to the Property is rescinded.

 

A3.7    Any statement, representation or warranty whatsoever made by the Vendor, agent or employees during the course of negotiations leading to the sale which are not contained and set forth in the conditions of sale are hereby treated as having been withdrawn and will have no force or effect at law whatsoever.

 

A4.      BIDDING AND RESERVE PRICES

A4.1    YOU must when registering for the Online Auction and before you can bid:

A) provide all information we reasonably need from you to enable us to complete the authorisation to sign the Reservation Agreement and/or the Contract of Sale (including proof of your identity if required by us);

B) authorise us to sign on your behalf a legally binding contract (reservation agreement) in relation to the property you bid on if you make the successful bid;

C) pay the registration fee and

D) pay the bidder security which you accept, agree and understand will immediately become non-refundable if you make the successful bid, unless otherwise expressly stated in these Online Auction Terms and Conditions.

 

A4.2 You accept, agree and understand that you will be responsible, in your own name and not simply as agent for a third party purchaser, for ensuring compliance with all obligations in this Online Auction terms and conditions document relating to use of this website and/or participation as a bidder in any Online Auction. You must ensure that you have all necessary authority to act on behalf of, and contractually bind and commit, the relevant purchaser to all obligations set out or referred to in this Online Auction terms and conditions document which expressly or by implication apply to intending purchasers. If for any reason the person identified by you as being the purchaser fails to comply with any obligations which expressly or by implication apply to purchasers (including any situation in which the purchaser disputes your authority to act and/or contract on its behalf for these purposes), you will be responsible to us for any loss we or any Vendor suffers as a result of that failure. This includes any failure to comply with obligations relating to the purchase of any property for which you successfully bid via an Online Auction.

 

A4.3    All bids are to be made in euros exclusive of any applicable VAT save where the conditions of the Reservation Agreement or the Contact of Sale state otherwise.

 

A4.4    We may refuse to accept a bid. We do not have to explain why.

 

A4.5    If there is a dispute over bidding we are entitled to resolve it, and our decision is final.

 

A4.6    Unless stated otherwise each Lot is subject to a reserve price (which may be fixed just before the Lot is offered for sale). If no bid equals or exceeds that reserve price the Lot will be withdrawn from the Online Auction. A bid, even if it is the highest valid bid for a Lot, will not be successful if the reserve price has not been met.

 

A5.      THE CONTRACT

A5.1    A successful bid is one we accept as such. This CONDITION A5 applies to you if you make the successful bid for a Lot. A successful bid is made where the bidding period closes and the purchaser's bid is (by operation of the website) accepted by BidX1 on behalf of the Vendor (subject to and in accordance with these Online Auction conduct conditions) as being the highest valid bid for the property at that time which has met or exceeded the reserve price.

 

A5.2    You are obliged to buy the Lot under the terms of the conditions of sale at the purchase price you bid plus VAT (if applicable).

 

A5.3    If you successfully bid, you will become legally bound by the conditions of sale applicable to a Lot from the moment that you are successful, i.e. at the time the bidding period closes and your bid is (by operation of the website) accepted by the Auctioneers on behalf of the Vendor as being the highest valid bid for the relevant Lot at that time which has met or exceeded the reserve price. A bid, even if it is the highest valid bid for a Lot, will not be successful if the reserve price has not been met.

 

A5.4    If you are successful, and in accordance with the authority you provided on registration, BidX1 will sign legally binding contracts for the sale of the property on your behalf (and on behalf of the Vendor).

 

A5.5    You accept, agree and understand that unless otherwise stated in these Online Auction terms and conditions, your bidder security will immediately become non-refundable if you make the successful bid, i.e. where the bidding period closes and your bid is (by operation of the website) accepted by the auctioneers on behalf of the Vendor as being the highest valid bid for the relevant Lot at that time which has met or exceeded the reserve price.

 

A5.6    You must, if successful, pay the balance of the 10% deposit (if applicable) in the Vendor’s bank account, within two business days of within two business days of the receipt of the Vendor’s  written notification that all documents and information that may be required have been provided to the satisfaction of the Vendor. This can be paid by Electronic Funds Transfer (EFT) or by bank transfer.

 

A5.7    The deposit:

A) is to be held as Agent for the Vendor unless the Contract of Sale states otherwise;

B) must be paid in euros by Electronic Funds Transfer or by bankers’ transfer made payable to us drawn on an approved financial institution; and

C) may be declined by US if we consider to our absolute discretion that would expose US to a breach of money laundering regulations;

 

A5.10 If the Purchaser does not comply with its obligations under the Reservation Agreement and/or the Contract of Sale then:

A) You are personally liable to buy the Lot even if you are acting as an agent; and

B) You must indemnify the Vendor in respect of any loss the Vendor incurs as a result of the Purchaser’s default.

A5.11 Where the Purchaser is a company you warrant that the Purchaser is properly constituted and able to buy the Lot.

 

A6.      MISCELLANEOUS

A6.1    Despite any Condition to the contrary:

A) The minimum deposit we accept is:

Reserve Value Range   -    Bidding Deposit Amount

€1 < €50, 000                     €2,000

€50,001 - €100,000            €3,000 

€100,001 - €300,000          €4,500 

€300,001 - €500,000          €7,000 

€500,001  - Max                 €10,000 

A condition in the Reservation Agreement and/or in the Contract of Sale may, however, require a higher minimum deposit.

B) We do not accept cash for all or any part of the deposit.

 

A6.2    Unless the context otherwise requires, any reference in this document (or in any condition) to “the Auctioneer(s) or BidX1” shall be deemed to refer to Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales. Any members or employees of Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales who conduct the Online Auction do so as agents of Islanders Estate Agencies Limited trading as BidX1 Cyprus Sales and without personal liability.

 

A6.3       These terms and conditions shall be governed by and be construed in accordance with the laws of the Republic of Cyprus and the parties hereby irrevocably submit to the exclusive jurisdiction of the courts of Cyprus.

 

4. TERMS & CONDITIONS FOR USE OF OUR WEBSITE

 

B1.          Terms of Website Use

B1.1        The terms set out here govern the basis on which you may make use of our website, whether as a registered user or otherwise. Use of the website includes accessing, browsing, or registering to use and also includes use for the purposes of participating in any online auction conducted via the website.

 

B1.2        Please read these terms of use carefully before you start to use our website, as these will apply to your use of our website.

We recommend that you print a copy of this for future reference.

 

B1.3        By using our website, you will be confirming that you accept these terms of use and that you agree to comply with them.

 

B1.4        If you do not agree to these terms of use, you must not use our website.

 

B2.          Other Applicable Terms

B2.1       These terms of use refer to the following additional terms, which also apply to your use of the website:

              

               Our Privacy Policy www.BidX1.com/privacy which sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our site, you consent to such processing and you confirm that all data provided by you is accurate.

 

B2.2       Your privacy and personal information are important to us. Any personal information that you provide to us will be dealt with in line with our privacy policy, which explains what personal information we collect from you, how and why we collect, store, use and share such information, your rights in relation to your personal information and how to contact us and supervisory authorities in the event you have a query or complaint about the use of your personal information.

 

B3.          Changes to Terms

B3.1        We may revise these terms of use and/or any of the terms and conditions set out in other parts of this online auction terms and conditions document at any time by amending the page on which this document appears.

 

B3.2        Please check this page from time to time to take notice of any changes we may make, as they are binding on you.

 

B4.          Changes to Our Website

B4.1        We may update our website from time to time and may change the content at any time. However, please note that any of the content on our website may be out of date at any given time, and we are under no obligation to update it.

 

B4.2        We do not guarantee that our website, or any content on it, will be free from errors or omissions.

 

B5.          Accessing Our Site

B5.1        Our website is made available free of charge.

 

B5.2        We do not guarantee that our website, or any content on it, will always be available or be uninterrupted. Access to our website is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of our website without notice. We will not be liable to you if for any reason our website is unavailable at any time or for any period.

 

B5.3        You are responsible for making all arrangements necessary for you to have access to our website.

 

B5.4        The website is for your use only and You are also responsible for ensuring that all persons who access our website through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.

 

B5.5        You agree that you are solely responsible for all costs and expenses you may incur in relation to your use of the website and keeping your password and other account details confidential as described in more detail under B6.

 

B5.6        When you access the website from any location, you are responsible for compliance with local laws where they are applicable.

 

B5.7        We seek to make the website as accessible as possible. If you have any difficulties using the website, please contact us at info@cy.bidx1.com.

 

B5.8        We may prevent or suspend your access to the website if you do not comply with any these terms, any terms or policies to which they refer or any applicable law, or to our absolute discretion.

 

B6.          Your Account and Password

B6.1        If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.

 

B6.2        We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

 

B6.3        If you know or suspect that anyone other than you know your user identification code or password, you must promptly notify us at info@cy.BidX1.com.

 

B7.          Intellectual Property Rights

B7.1        We are the owner or the licensee of all intellectual property rights in our website, and in the material published on it.  Those works are protected by copyright laws and treaties around the world. All such rights are reserved and except as specifically detailed below nothing contained in these terms shall be construed as conferring by implication, estoppel or otherwise any licence or right to use any trademark, patent, design right, copyright or other intellectual property rights of BidX1 or any other third party.

 

B7.2        You may print off one copy, and may download extracts, of any page(s) from our website for your own use (including use in relation to any online auction) and you may draw the attention of others within your organisation to content posted on our site.

 

B7.3     You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

 

B7.4        Our status (and that of any identified contributors) as the authors of content on our website must always be acknowledged.

 

B7.5        You must not use any part of the content on our website for commercial purposes without obtaining a licence to do so from us or our licensors.

 

B7.6        If you print off, copy or download any part of our website in breach of these terms of use, your right to use our website will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

 

B7.7        Nothing in these terms grants you any legal rights in the website other than as necessary to enable you to access it. You agree not to adjust to try to circumvent or delete any notices contained on the website (including any intellectual property notices) and in particular in any digital rights or other security technology embedded or contained within the Site.

 

B8.          No Reliance on Information

B8.1     The content on our website is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our website.

 

B8.2        Although we make reasonable efforts to update the information on our website, we make no representations, warranties or guarantees, whether express or implied, that the content on our website is accurate, complete or up-to-date.

 

B8.3        While we try to make sure that the website is accurate, up-to-date and free from bugs, we cannot promise that it will be. Furthermore, we cannot promise that the website will be fit or suitable for any purpose. Any reliance that you may place on the information on the website is at your own risk.

 

B8.4        We may suspend or terminate operation of the website at any time as we see fit.

 

B8.5        While we try to make sure that the website is available for your use, we do not promise that the website is available at all times nor do we promise the uninterrupted use by you of the website.

 

B9.          Limitation of Our Liability

B9.1        We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:

A) use of, or inability to use, our website (including any inability to place bids or otherwise participate in any online auction); or

B) use of or reliance on any content displayed on our website (including information relating to lots offered for sale in any online auction).

C) loss or corruption of any documents, data or other information you upload or otherwise provide via the website - you should ensure that you keep your own copies of any such documents, data or other information.

 

B9.2        We will not be liable to you for any failure to comply, or delay in complying, with any obligations which (notwithstanding any other provisions in this online auction terms and conditions document) we may be treated as owing to you in relation to use of the website, where the failure or delay is caused by circumstances beyond our reasonable control.

 

B9.3    We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our site or to your downloading of any content on it, or on any website linked to it.

 

B9.4        We assume no responsibility for the content of websites linked on our website. Such links should not be interpreted as endorsement by us of those linked websites. We will not be liable for any loss or damage that may arise from your use of them.

 

B9.5        We exclude all implied conditions, warranties, representations or other terms that may apply to our website or any content on it, unless it is contrary to the legislation of the Republic of Cyprus.

 

B9.6        Please note that we will not be liable for loss of profits, sales, business, or revenue; business interruption; loss of anticipated savings; loss of business opportunity, goodwill or reputation; or any indirect or consequential loss or damage.

 

B10.        Uploading Content to Our Website

B10.1      Whenever you make use of a feature that allows you to upload content to our website, or to make contact with other users of our site, you must comply with the content standards set out below. The standards apply to any and each part of the content uploaded as well as to its whole.

 

B10.2      Uploads must not, amongst other things:

A) Contain any material which is defamatory of any person.

B) Contain any material which is obscene, offensive, hateful or inflammatory.

C) Infringe any copyright, database right or trade mark of any other person.

D) Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.

E) Promote any illegal activity.

F) Be used to impersonate any person, or to misrepresent your identity or affiliation with any person.

J) Contravene the provisions of any applicable law or regulation.

 

B10.3      You must ensure that any such content does comply with those standards, and you will be liable to us for any loss or damage we suffer as a result of breach of this obligation.

 

B10.4      Any content you upload to our website will be considered non-confidential and non-proprietary. You retain all of your ownership rights in your content, but you are required to grant us a limited licence (on a royalty free basis) to use, store and copy that content in connection with the purposes for which it was uploaded and (where appropriate, given the content and the relevant purposes for which it was uploaded) to distribute and make it available to third parties.

 

B10.5      We also have the right to disclose your identity to any third party who is claiming that any content posted or uploaded by you to our website constitutes a violation of their intellectual property rights, or of their right to privacy.

 

B10.6      We will not be responsible, or liable to any third party, for the content or accuracy of any content posted by you or any other user of our website.

 

B10.7      We have the right to remove any posting you make on our site if, in our opinion, your post does not comply with the content standards.

 

B10.8      You may not use any data gathering or data extraction tools, such as robots, on the website without our prior written permission.

 

B10.9      The views expressed by other users on our website do not represent our views or values.

 

B10.10   While we try to make sure that the website is secure, we cannot guarantee the security of any information that you supply to us and therefore we cannot guarantee that it will be kept confidential. For that reason, you should not let us have any patentable ideas or patent applications, advertising or marketing suggestions, prototypes, or any other information that you regard as confidential, commercially sensitive or valuable (Unwanted Submissions). While we value your feedback, you agree not to submit any Unwanted Submissions.

 

B10.11   We may use any Unwanted Submissions as we see reasonably fit on a free-of-charge basis (bear in mind that we have no way of knowing whether such information is confidential, commercially sensitive or valuable because we do not monitor the Site to check for these matters). Therefore, we will not be legally responsible for keeping any Unwanted Submissions confidential nor will we be legally responsible to you or anybody else for any use of such Unwanted Submissions.

 

B11.        Viruses

B11.1      We do not guarantee that our website will be secure or free from bugs or viruses.

 

B11.2      You are responsible for configuring your information technology, computer programmes and platform in order to access our website. You should use your own virus protection software.

 

B11.3    You must not misuse our website by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our website, the server on which our website is stored or any server, computer or database connected to our website. You must not attack our website via a denial-of-service attack or a distributed denial-of service attack. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our website will cease immediately.

 

B12.        Linking to Our Site

B12.1      You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it.

 

B12.2      You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.

 

B12.3      You must not establish a link to our website in any website that is not owned by you.

 

B12.4      Our site must not be framed on any other website, nor may you create a link to any part of our site other than the home page.

 

B12.5      We reserve the right to withdraw linking permission without notice.

 

B12.6      The website in which you are linking must comply in all respects with the content standards set out in the paragraph 'Uploading Content to Our Website' above.

 

B12.7      If you wish to make any use of content on our website other than that set out above, please contact info@cy.BidX1.com.

 

B13.        Third Party Links and Resources in Our Site

B13.1      Where our website contains links to other sites and resources provided by third parties, these links are provided for your information only.

 

B13.2      We do not control, investigate, monitor or check such websites, we are not responsible for the computer programs available from, content in or opinions expressed at such Web sites, and we do not investigate, monitor or check third party websites. We provide such third-party links only as a convenience to visitors of the Site, and the inclusion of a link does not imply approval or endorsement of the linked site by us. If you decide to leave the website and access any third- party site, you do so at your own risk.

 

B14.        Suspension and Termination

B14.1   If you fail to comply with any of these terms of use, the actions that we may take include the following:

A) Immediate, temporary or permanent withdrawal of your right to use our website.

B) Immediate, temporary or permanent removal of any posting or material uploaded by you to our website.

C) Issue of a warning to you.

D) Legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach.

E) Further legal action against you.

F) Disclosure of such information to law enforcement authorities as we reasonably feel is necessary.

 

B14.2      Termination of the Contract of Sale shall not affect our rights and remedies that have accrued as at termination.

 

B14.3      Any provision of the Contract of Sale that expressly or by implication is intended to come into or continue in force on or after termination shall remain in full force and effect.

 

B15.     Applicable Law

B15.1   Please note that these terms of use will be governed by and construed in accordance with the laws of the Republic of Cyprus and the Courts of Cyprus shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).

 

B16.       Entire Agreement

B16.1     This is the entire agreement between us in relation to its subject matter. You acknowledge that you have not relied on any statement, promise or representation or assurance or warranty that is not set out herein.

 

B17.        Events Outside Our Control

B17.1      We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations that is caused by any act or event beyond our reasonable control (Event Outside Our Control).

 

B17.2      If an Event outside our control takes place that affects the performance of our obligations:

A) we will contact you as soon as reasonably possible to notify you; and

B) our obligations will be suspended and the time for performance of our obligations will be extended for the duration of the event outside our control. Where the event outside our control affects our delivery of goods to you, we will arrange a new delivery date with you after the event outside our control is over.

 

B18.        Assignment and Transfer.

B18.1      We may assign or transfer our rights and obligations to another entity without notification.

 

B18.2      You may only assign or transfer your rights or your obligations to another person if we agree in writing.

 

B19.        General. 

B19.1      Any variation only has effect if it is in writing and signed by you and us (or our respective authorised representatives).

 

B19.2      If we do not insist that you perform any of your obligations, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you or that you do not have to comply with those obligations. If we do waive any rights, we will only do so in writing, and that will not mean that we will automatically waive any right related to any later default by you.

 

B19.3      Each paragraph operates separately. If any court or relevant authority decides that any of them is unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.

 

B19.4      This agreement is between you and us. No other person has any rights to enforce any of its terms.

 

B19.5      We shall have no liability to you for any breach of these terms caused by any event or circumstance beyond our reasonable control including, but not limited to, strikes, lock-outs or other industrial disputes; breakdown of systems or network access; or flood, fire, explosion or accident.

 

B19.6      No changes to these terms are valid or have any effect unless agreed by us in writing or made in accordance with this clause. We reserve the right to vary these terms from time to time. Our updated terms will be displayed on the website and by continuing to use and access the website following such changes, you agree to be bound by any variation made by us. It is your responsibility to check these Terms from time to time to verify such variations.

 

B20.        Contact Us

B20.1      If you have any questions about these terms please contact us:

Islanders Estate Agencies Ltd, trading as BidX1 Cyprus Sales
Archiepiskopou Makariou III and Mesaorias 1

Ebos Tower

Office 201

Lakatamia 2322 Nicosia

Cyprus

E: info@cy.bidx1.com