EzSurplusListings.com or (ESL) will enter into written buy/sell agreements with equipment or obsolete inventory or any other items listed on the platform. Sellers will enter into written agreements to broker surplus inventory or any other things for a commission. In some cases where a commission agreement is signed, ESL will agree to send inquiries directly from potential buyers to the seller. In other instances, ESL will protect the buyer until the seller agrees to a sales agreement with ESL so that the equipment is resold to the buyer. In any case, a registered Seller agrees to protect ESL position and to only sell the equipment directly to buyers who are brought to the seller by ESL through a written agreement as described.
This agreement is between EzySurplusListings.com (ESL) and sellers (seller) registering to sell equipment listed on any of ESL’s Websites. This is a non-exclusive agreement and sellers may offer and sell equipment or any other items they want to liquidate independently even if the equipment is listed on an ESL’s website. However, the Seller agrees that this agreement governs sales that have originated with an inquiry received through ESL platform.
ESL operates and maintains a number of industry-specific and general industrial websites as forums to link buyers with sellers of used and surplus industrial equipment, obsolete inventory and more. Registered users of ESL Websites may be approved as registered sellers. Sellers on these websites are approved or disapproved at the sole discretion of EzSurplusListings.com using information that may include: declaration or evidence that the seller has the right to sell or advertise certain equipment and conducts business in a manner that is consistent with the rights or the best interest of ESL and its registered users. ESL reserves right to refuse to list equipment as it chooses and may include or not include equipment listed by any seller on its website as it sees appropriate.
Once the seller has agreed to the ESL user agreement and this sellers agreement has been approved he may list equipment on the website that is appropriate. The registered seller concurs that for sales which originate with an inquiry from an ESL website that they will make a good faith effort to reach an agreement to sell the equipment on a brokerage or commission basis,or for a flat commission fee depends on the actual agreement with buyer or seller.
The commission will be equal to:
- 12% of the portion of the sales price less than - $100,000 plus,
- 10% of any part of the sales price $100,000 – $300,000 plus,
- 8% of any portion of the sales price exceeding- $300,000.
Instead of paying a commission, the seller may agree to sell the equipment to EzSurplusListings for resale to the buyer or an agreement to require the buyer to pay a “Buyer’s Premium” equal to the amount of commission due directly to ESL before the release of the equipment sold.
Upon notification of receipt of an inquiry through an EzSurplusListings the seller agrees to supply a quote to ESL for the listed equipment or inventory which includes the commission or specifies the buyer’s premium. The commission or buyer’s premium due is calculated against the final sales price. Extra costs such as dismantling, crating, loading or shipping are not subject to commission.
Sellers agree to notify ESL if the equipment they list is sold such that the equipment may be removed from the website. The seller agrees to convey information regarding listed equipment or any other items that is to the best of his knowledge, and declare and/or demonstrate that he either owns the equipment or has permission from the owner to place it for sale with all details about the current condition of equipment or any other items being placed for sale with EzSurplusListings.com
Both parties agree that no joint venture or agent relationship exists between the parties and that ESL is acting only as a lead qualifier and earns commissions or buyer’s premium as payment for this service. ESL agrees to describe the lead and the qualification that has occurred accurately. If the seller deems that insufficient information is available to enter negotiations, ESL will use reasonable efforts to obtain more information about the buyer. Notwithstanding the foregoing, ESL is only responsible for securing such information about the buyer as is required to be provided by the buyer during the registration of the buyer as a registered user of the ESL websites.