Auction Terms and Conditions of Use

Last Updated: December 1, 2019

Please ensure that you read and understand these Terms and Conditions of Use prior to using the Service. Your continued use of this website and any derivative activities are bound by this agreement and your relationship with Global Credits Network and Global Credits Network, LLC.

These Terms and Conditions of Use contain important information about the legal agreement between us, and provide specific details concerning additional documents that form part of our relationship with you.

If any part of this Agreement is unclear or you do not understand the impact it has on you individually or your relationship with the Company, it is your responsibility to either contact us for clarification or seek legal advice from an experienced attorney. You can find details of how to contact us on the "Contact Us" section of the Global Credits Network Website.

These Terms and Conditions of Use (the "Terms") and any related documents whether mentioned in this Agreement or not, apply to your use of the Global Credits Network ("Global Credits Network," "we," or "us") and its online and digital properties, including, but not limited to; the globalcreditsnetwork.com website and Global Credits Network mobile applications (the "Site"), purchasing credit or bidding on goods or other services offered by Global Credits Network through the Site and/or related sites. These Terms are a legal agreement and your use of Global Credits Network's Services constitutes your acceptance of the Terms contained herein and Global Credits Network's Privacy Policy incorporated herein by reference. You must create a unique an acceptable user account and accept these terms and conditions in order to use the Services or access the Site(s).

If you do not agree to these Terms or the Privacy Policy, you may not use the Sote pr Services or any other site or services provided by Global Credits Network and must immediately discontinue your use. BY REGISTERING FOR AND USING THE SITE OR SERVICES, YOU AGREE TO BE BOUND BY THESE TERMS AND ALL POLICIES AND GUIDELINES INCORPORATED BY REFERENCE.

READ THESE TERMS CAREFULLY BEFORE ACCESSING THIS SERVICE OR THE SITE OR ACCEPTING THESE AND ANY RELATED TERMS WHEN REGISTERING TO USE THE SERVICES. THESE TERMS HAVE LEGAL CONSEQUENCES AND WILL AFFECT YOUR RIGHTS AND OBLIGATIONS. BY AGREEING TO THESE TERMS, YOU ARE EXPRESSLY WAIVING YOUR RIGHT TO SUE IN COURT, YOUR RIGHT TO A TRIAL BY JURY, AND YOUR RIGHT TO BRING ANY CLASS ACTION, COLLECTIVE, OR REPRESENTATIVE PROCEEDING AGAINST GLOBAL CREDITS NETWORK. AS USED IN THESE TERMS, THE SITE MEANS THE ENTIRETY OF THIS WEBSITE AND MOBILE APPLICATIONS INCLUDING, BUT NOT LIMITED TO, ALL CONTENT, SERVICES, INFORMATION, AND ANY PORTIONS THEREOF. THE GLOBAL CREDITS NETWORK SERVICES ARE ANY SERVICES OFFERED OR PROVIDED BY GLOBAL CREDITS NETWORK AND THE SERVICES AND THE SITE ARE COLLECTIVELY REFERRED TO AS THE SERVICES.

BY PURCHASING CREDITS OR BIDDING FOR PRODUCTS OR ANY OTHER INTERACTION WITH THE SITE OR THE SERVICES, YOU AFFIRM THAT YOU ARE OF LEGAL AGE TO

ENTER INTO THESE TERMS IN YOUR RESPECTIVE JURISDICTION(S), AND THAT YOU ACCEPT AND AGREE TO BE BOUND BY THESE TERMS.

THE GLOBAL CREDITS NETWORK SERVICES ARE AVAILBALE TO AND MAY ONLY BE USED BY PERSONS OVER THE AGE OF 18 OR THE MINIMUM AGE AS DETERMINED BY BOTH THE ADDRESS YOU USE DURING REGISTRATION AND THE GEOGRAPHICAL LOCATION WHERE YOU USE THE SITE(S) OR SERVICE(S). BY USING THE SITE(S) OR SERVICE(S), YOU REPRESENT AND WARRANT THAT YOU ARE OVER THE AGE OF 18, YOU ARE OF LEGAL AGE TO FORM A BINDING CONTRACT WITH GLOBAL CREDITS NETWORK, AND THAT YOU MEET ALL OF THE ELIGIBILITY REQUIREMENTS DESCRIBED IN THESE TERMS. YOU MAY NOT ORDER, BID, PURCHASE, OR OBTAIN PRODUCTS OR SERVICES THROUGH THE SERVICES IF YOU (I) DO NOT AGREE TO THESE TERMS, (II) ARE NOT THE OLDER OF AT LEAST 18 YEARS OF AGE OR LEGAL AGE TO FORM A BINDING CONTRACT WITH GLOBAL CREDITS NETWORK, OR (III) ARE PROHIBITED FROM ACCESSING OR USING THE SITE(S) OR SERVICE(S) CONTENT OR GOODS BY APPLICABLE LAW.

When using the Global Credits Network Services, a user may spend money on virtual credits such as Bids without receipt of physical items. You are solely responsible for your spending, bidding, and purchasing when using the Services. Global Credits Network is not responsible or liable for your bidding or spending on Global Credits Network or through any of the Services. Furthermore, you are solely responsible for, and Global Credits Network is not responsible for and shall not be liable for, any items that you bid on or purchase through the Services. It is your sole responsibility to only purchase items that you have fully read the product descriptions of and are familiar with. You are solely responsible for your purchases.

Global Credits Network will not be liable if for any reason all or any part of the Site(s) or Service(s) are unavailable at any time or for any period. From time to time, Global Credits Network may restrict access to some or all parts of the Services to users, including registered users.

Global Credits Network reserves the right to withdraw, change, or modify these Terms, the Services, or any policy or guideline related to the Services, at any time and from time-to-time in its sole discretion, without notice. Any changes will be effective upon posting of the revisions on the Site and it is your responsibility to check these Terms each time before using the Services so you are aware of any changes, as they are binding on you. Your continued use of this Site and the Services following our posting of them will constitute your acceptance of such changes. IF YOU DO NOT AGREE TO THESE TERMS OR ANY MODIFICATION, DO NOT REGISTER OR CONTINUE TO USE THE SERVICES.

Section 1 Eligibility

The Site(s) and Service(s) are only available to residents of countries or jurisdictions in which such Site(s) and Service(s) are legal. Global Credits Network reserves the right to restrict availability of auctions and delivery of items based on the country of the user. The country of the user shall be determined by the IP address used to access the Site(s) or Service(s). It is your sole responsibility to determine whether or not you are allowed to access the Site(s) and/or Service(s) for your jurisdiction and to verify that your method of access is compliant. It is also your sole responsibility to notify Global Credits Network at [email protected] in case of their country of residence is incorrectly identified.

Items purchased through the Services may only be delivered to the continental United States. Global Credits Network does not deliver to PO Boxes or to freight forwarding companies. Global Credits Network may decline shipping to RR boxes. Please contact support before placing an order if you wish to use an RR box.

Shipping prices vary depending on the size of the auction item, the delivery method and the delivery address. The winner(s) of any auction shall be responsible for the shipping charges for any items won and such charges will be added to the number of credits used to win that item and deducted from the member’s account. ALL WINNINGS ARE FINAL AND THERE ARE ABSOLUTELY NO REFUNDS OF ITEMS WON, SHIPPING CHARGES OR CREDITS USED. MAKE SURE YOU ARE FULLY AWARE OF THE ITEM YOU ARE BIDDING ON AND ANY SUBSEQUENT CHARGES BEFORE YOU BID OR USE CREDITS.

Section 2 General Terms

The Global Credits Network policies accessible throughout the Site are expressly incorporated by reference into these terms, and you should review each carefully. The procedures and guidelines contained below explain the auction process. The Global Credits Network Privacy Policy governs the collection and use of user information on the Site(s). Please make sure you read and fully understand the Privacy Policy.

Section 3 Access to Systems

You are prohibited from violating or attempting to violate the security of the Services, including, without limitation: (i) accessing data not intended for such user or logging onto a server or an account which the user is not authorized to access; (ii) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization; or (iii) accessing or using the Services or any portion thereof without authorization, in violation of these Terms or in violation of applicable law.

You may not use any scraper, crawler, spider, robot, or other automated means of any kind to access or copy data on the Site, deep-link to any feature or content on the Site, bypass our robot exclusion headers, or other measures we may use to prevent or restrict access to the Site.

You agree not to interfere with the Site, Services, or any transaction and agree not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the Services or any activity being conducted on or through the Services. You agree not to impose any unreasonably or disproportionately large load on Global Credits Network's systems or facilities.

You agree not to put any material on the Site that contains any viruses, Trojan horses, worms, time bombs, cancelbots or any other computer programming routines that may damage, interfere with, surreptitiously intercept or expropriate any system, data or personal information. Violations of system or network security may result in civil or criminal liability. Global Credits Network will investigate occurrences that may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

Section 4 Bidding

Each Global Credits Network bid (a "Bid") is a limited, non-transferable license to place one bid on a Global Credits Network auction. Bids have no monetary value and may not be exchanged for money or any items of monetary value. Each bid is the equivalent of one Global Credits Network credit.

Section 5 Fraud and Other Restricted Behavior

You acknowledge that in order to maintain fair and honest auctions, Global Credits Network retains the right to monitor and enforce any fraudulent or malicious activity on the Site. You acknowledge that you have read these Terms, and you agree not to engage in any of these, or any other fraudulent or malicious activities. As stated herein, Global Credits Network reserves the right to temporarily or permanently suspend any user account engaged or suspected to engage in any such activities.

You may not register and make bids under a false name, false address or any information that would violate the terms of any Know Your Customer (KYC) policies, both internal to the Company or regulated by any governmental agencies. Such fraudulent conduct is a violation of federal and state laws. Fraudulent bidders may be reported to relevant state and federal law enforcement agencies and Global Credits Network will cooperate to ensure that violators are prosecuted to the fullest extent of the law.

A bidder may not resell any product or service obtained through the Site and Services without prior written consent from Global Credits Network. Moreover, a user may not use the products to create any investment scheme, commodities contract or pool or otherwise to use Global Credits Network as a product delivery mechanism for a brokered or 'middleman' agreement or obligation. If it is discovered that a user is, in fact, reselling products obtained from Global Credits Network, we reserve the right to suspend the account without further notice, voiding all auctions in which the user has participated. Additionally, the user may be required to compensate Global Credits Network for any damages.

Global Credits Network reserves the right to refuse any order you place with us. Global Credits Network may, in its sole discretion, limit or cancel quantities purchased per person, per household or per order. These restrictions may include orders placed by or under the same customer account, the same digital wallet(s), geographic region, and/or orders that use the same phone number, billing and/or shipping address. In the event Global Credits Network changes or cancels an order, Global Credits Network will attempt to notify you by contacting the e-mail, billing address and/or phone number provided at the time the order was made. Global Credits Network reserves the right to limit or prohibit orders that, in its sole judgment, appear to be placed by dealers, resellers, distributors and others who violate these Terms.

No user may permit or assist others to use the Services for any purpose other than that for which they are intended. A user shall not permit or assist others to abuse or fraudulently use the Services, including but not limited to the following:

• Obtaining or attempting to obtain service by any fraudulent means or device with intent to avoid payment;

• Accessing, altering, or destroying any information of another Global Credits Network user by any fraudulent means or device, or attempting to do so; or

• Using Services so as to interfere with the use of Global Credits Network platform by other users or authorized users, intentionally or not; or in violation of the law or in aid of any unlawful act.

• Each user acknowledges that Global Credits Network's network may only be used for lawful purposes. Global Credits Network reserves the right to monitor all network activity.

While using Global Credits Network, each user agrees to refrain from the following prohibited acts:

• Maintaining more than one account or maintaining control or influence over more than one account;

• Infringing upon the intellectual property of Global Credits Network, establishing a competing site, or otherwise copying or using the data on the Site for any reason other than bidding on products for the bidder's own use;

• Manipulate the bidding process by placing fictitious bids, colluding with other parties to create the illusion of volume ('marking the close' or 'painting the tape'), or engaging in any other disingenuous or fraudulent activity that undermines the integrity of the online market;

• Breaching Global Credits Network's policies;

• Attempting to harvest or otherwise collect information about users, including email addresses;

• Attempting to upload or download any computer virus;

• Attempting to transmit via email any unsolicited advertising, promotional materials, "junk mail", "spam", "chain letters", "pyramid schemes", or any other form of email solicitation to other users;

• Attempting to communicate with other users to promote or provide instructional information about illegal activities, promote physical harm, or injury against any users.

• Viewing and/or downloading or uploading pornographic pictures or stories.

• Attempting to attack other people's internet connections, Web Sites or computers, or damage or deface anyone else's Web Site.

Section 6 Collusion/Team Play

Any kind of collusion or team play is strictly forbidden on Global Credits Network. By definition, this includes, but is not limited to, two or more members working together as a team, or creating the impression that there are more people involved and competing to win an auction than there actually are, or placing bids until rewards are earned and then switching over to another account to continue to earn further rewards on the same deal.

Global Credits Network does not allow two members that know, or are associated with, each other to participate in the same auction. Two members participating in the auction are by definition engaging in team play, and automatically lose their right to purchase the Deal or receive any of their spent bids back.

We reserve the right to disqualify, in our absolute discretion, any users we suspect to be working in a team by voiding all their wins and freezing their accounts. No funds or Bids will be returned or transferred into other accounts. If a user is found to have violated these Terms, any free Bids provided to them and used, including those provided in the past, must immediately be paid for by user at their current selling price.

Section 7 Passwords/Equipment

You may not disclose your username and password to any third party, and you agree that you are solely responsible for any use of or action taken under your account. Your password may be used only to access and use the Services. If your user credentials or password is compromised or otherwise disclosed, you must notify Global Credits Network and change your password immediately in order to minimize your risk of loss. You are responsible for providing and maintaining all equipment necessary to use the Services, including, without limitation, computer hardware and software, modems, network or Wi-Fi connections and telephone service. Further, you are solely responsible for (a) maintaining the security of your personal information, including, without limitation, account and login information, passwords, and financial information; (b) all telephone and toll charges which may apply to your account depending on your location; and (c) any other charges resulting from the use of your account.

Section 8 Investigation of Violations

We may investigate any violation of these Terms, our policies or guidelines, or any other complaints and take any action that we deem appropriate and reasonable under the circumstance to protect our systems, facilities, users and/or third parties. Our actions may include, but are not limited to, issuing warnings, suspension or termination of the Services or any user accounts, and/or removal of or disabling access to content hosted on Global Credits Network's systems. We reserve the right and have absolute discretion to remove or disable access, screen, or edit any content that violates these provisions or is otherwise objectionable. Global Credits Network also reserves the right to report any activity that it suspects violates any law or regulation to appropriate law enforcement officials.

Section 9 License

By using the Services and submitting any information or materials to Global Credits Network ("Licensed Materials"), you hereby grant us a non-exclusive, worldwide, royalty-free, irrevocable, and sublicensable right to use, reproduce, modify, display, and distribute the Licensed Materials, in any existing or future media, known or unknown. Any Licensed Materials you provide to Global Credits Network will be considered non-confidential and non-proprietary. You agree not to use the Services to send, knowingly receive, upload, download, use or re-use any material which does not comply with these Terms, including the Content Standards set forth below. You acknowledge and warrant that you have the right and authority to provide such license to Global Credits Network. You understand and acknowledge that you are responsible for any Licensed Materials you submit or contribute, and you, not Global Credits Network, have full responsibility for such content, including its legality, reliability, accuracy and appropriateness. Global Credits Network is not responsible, or liable to any third party, for the content or accuracy of any Licensed Materials posted by you or any other user of the Services. Global Credits Network has the right to disclose your identity or other information about you to any third party who claims that material posted by you violates their rights, including their intellectual property rights or their right to privacy.

You understand and agree that Global Credits Network or its licensors hold all right, title, and interest to the Services and all intellectual property, material, content, and features provided through the Services, and the design, selection, and arrangement thereof. The foregoing applies regardless of (i) the form of intellectual property, (ii) how it was provided to you, or (iii) your geolocation. You understand and agree that you may only use the content available provided to you through the Services, unless otherwise expressly provided by Global Credits Network. You may not conduct the following activities through the Services: (a) any resale or commercial use of the Site or Services, (b) the collection and use of any e-mail or user information, ratings, or listings; (c) making derivative uses of the Site and its contents; or (d) use of any data mining, robots, or similar data gathering and extraction methods.

You agree not to make use of any other users' information other than as necessary to participate in the Site and to complete any transaction in which you are involved. Specifically, you agree that with respect to any information disclosed to you by Global Credits Network regarding another user of the Services, you only will use such information, unless otherwise authorized, (a) to complete transactions originating from the Site, including the use of third-party services, (b) for communications with us, or (c) as permitted by the corresponding user identified in such information. You agree not to disclose any user information disclosed to you by Global Credits Network except as provided by these Terms or with our written consent. You further agree not to use any information accessible from the Site for purposes of solicitation, advertisement, or spamming, or which is harassing, threatening, harmful, invasive of privacy or publicity rights, abusive, inflammatory or otherwise objectionable.

Section 10 Content Standards

Your interaction with the Site(s) or and/or Service(s) shall not:

• Contain any material which is defamatory, obscene, indecent, abusive, offensive, harassing, violent, hateful, inflammatory, or otherwise objectionable.

• Promote sexually explicit or pornographic material, violence, or discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age.

• Infringe any patent, trademark, trade secret, copyright, or other intellectual property or other rights of any other person.

• Violate the legal rights (including the rights of publicity and privacy) of others or contain any material that could give rise to any civil or criminal liability under applicable laws or regulations or that otherwise may be in conflict with these Terms or Global Credits Network's Privacy Policy.

• Be likely to deceive any person.

• Promote any illegal activity, or advocate, promote, or assist any unlawful act.

• Cause annoyance, inconvenience, or needless anxiety or be likely to upset, embarrass, alarm, or annoy any other person.

• Impersonate any person or misrepresent your identity or affiliation with any person or organization.

• Involve commercial activities or sales, such as contests, sweepstakes, and other sales promotions, barter, or advertising.

• Give the impression that they emanate from or are endorsed by us or any other person or entity, if this is not the case.

Global Credits Network has the right to remove or refuse to post on the Service any Licensed Materials for any or no reason in its sole discretion. However, Global Credits Network cannot review all Licensed Materials before it is posted on its Services and cannot ensure prompt removal of objectionable material after it has been posted. Accordingly, Global Credits Network assumes no liability for any action or inaction regarding transmissions, communications, or content provided by any user or third party. Global Credits Network has no liability or responsibility to anyone for performance or non-performance of the activities described in this Section.

Section 11 Registration with Global Credits Network for Use

To use the Services, you must first register for an online user account, consisting of a username, password, digital wallet, credit card information (if requested), billing address, and other information as may be required by Global Credits Network. You may register only once and may only have one account at Global Credits Network for your personal use. Additionally, each household or "group of users associated with each other", determined by the sole discretion of Global Credits Network, may not register or have control over more than two Global Credits Network member accounts. If a single person is found to have or maintain control over several accounts on Global Credits Network, or if a household or a "group of users associated with each other" is found to have or maintain control over more than two accounts on Global Credits Network, all accounts will be immediately suspended, all auctions the accounts have participated in will be voided, and any Bids purchased will be removed without prior warning and without any form of compensation.

During the registration process, the user must choose a username. The username may not offend common decency or infringe upon the rights of third parties. The username may also not be misleading in any way or, in Global Credits Network's judgment, closely resemble the identity of an existing user. It is a condition of your use of the Services that all the information you provide through the Services is correct, current, and complete. You agree to maintain and promptly update your user account information to keep it true, accurate, current, and complete. If you provide any information that is untrue, inaccurate, not current, or incomplete, or Global Credits Network has reasonable grounds to suspect that such information is untrue, inaccurate, not current, or incomplete, Global Credits Network may suspend or terminate your account or access to the Services. If you abuse your user account, whether it harms a third party or Global Credits Network, you may be disqualified and, if applicable, Global Credits Network may notify applicable authorities of the possibility of a crime.

ACCOUNTS AUTHORIZED TO USE THE SERVICES CANNOT BE TRANSFERRED OR USED BY ANYONE OTHER THAN THE AUTHORIZED ACCOUNT HOLDER. USE OF THIS ACCOUNT BY A PERSON OR PERSONS NOT AUTHORIZED BY GLOBAL CREDITS NETWORK IS STRICTLY PROHIBITED. NO MORE THAN ONE LOG-IN SESSION OR ONE AUTHORIZED ACCOUNT USER CAN BE ACTIVE AT A TIME FOR ANY ACCOUNT. EXCEPT AS OTHERWISE PERMITTED BY THE SYSTEM, ACCOUNTS WHICH HAVE BEEN TRANSFERRED IN WHOLE, PART, OR PROXY BIDDING TO OTHER PARTIES, OR SHOW OTHER ACTIVITY IN VIOLATION OF THESE TERMS, ARE SUBJECT TO IMMEDIATE TERMINATION. GLOBAL CREDITS NETWORK RESERVES THE RIGHT TO MAINTAIN LOGS OF ACCOUNT ACTIVITY AND TO USE SAID LOGS FOR THE PURPOSE OF DETECTING USAGE IN VIOLATION OF THESE TERMS.

Global Credits Network reserves the right to at any time temporarily or permanently disqualify a user for violating these Terms. Users will be disqualified when, in Global Credits Network's reasonable opinion, a user has violated any law, regulation or equitable interest in favor of a third party, such as protecting users and the Service from manipulation. Examples of the foregoing include, but are not limited to, (i) honoring bids of users who have not paid for the Bids, (ii) the use of unauthorized bidding software, or (iii) establishing several user accounts for the same person. Moreover, Global Credits Network reserves the right to cancel unauthorized Global Credits Network accounts or accounts that have been inactive. Each user agrees not to hold Global Credits Network responsible for any loss incurred as a result of such action.

Section 12 Bid Purchasing for Online Bidding / Payment

All prices are displayed, and payments processed in United States dollars. The user is responsible for conversion rates and fees which may occur in case of a currency conversion done by their bank or payment processor.

Global Credits Network Bids must be purchased by users prior to online bidding. Only registered users can submit the online bids, which can be purchased in packages (“Bid Packs”) at the currently applicable prices. The Bids must be paid for in advance. When the Bids are purchased and deposited into the user's Global Credits Network account, a contract for the purchase of the Bids materializes. If a user is suspended for whatever reason, all of their Bids will be forfeited and will not be refunded.

Users who have won an auction and paid for a product are not eligible for a refund on either Bid purchases, account activation fees, or product fees if their product has been shipped by the time of request.

Should a payment not be honored for a user, a returned payment fee will be charged. The user shall be solely responsible for these fees. Global Credits Network reserves the right to block access to the user account until full payment is received by Global Credits Network for the outstanding amount, including any fees due to returned payment, etc. Global Credits Network may withhold any outstanding deliveries until it receives full payment. The user's exchange may or may not charge the user an international payment fee in connection with cryptocurrency payments on the Global Credits Network site. It is the sole responsibility of the user to be familiar with the policies and practices of his or her exchange for such fees. Global Credits Network holds no responsibility for additional payment fees of any kind issued to the user by the user's exchange.

Example (normal priced Bids): John purchases 100 Bids for $60 and Bids 10 times. All the remaining 90 Bids are eligible for a total refund of $54 ( 90 * $0.60 ).

Section 13 Bidding / AutoBidder

For online bidding, an individual bid can be submitted by clicking the "BID NOW" button, or by using the automated bidding tool called the '[NAME]'. Used Bids are deducted from the user's Bid balance accordingly.

The [NAME] can assist bidders in being able to bid in an auction, even if the bidders are not online at that time. Only registered users can submit bids automatically with one or more [NAME]. The [NAME] automatically submits bids according to the specifications set in advance by the user.

Booking a [NAME] before an auction starts does not guarantee participation in the auction. In such cases all bids booked into the [NAME] are returned to the user’s account. To secure a spot in an auction, Global Credits Network advises to book the [NAME] or place one manual bid after the auction has started.

Global Credits Network does not guarantee the precision of the [NAME] feature and Global Credits Network may not be held responsible for any [NAME] software errors of commission or omission. The user is prohibited from using any bidding software not authorized by Global Credits Network; if the user does, in fact, use unauthorized software, it may result in immediate disqualification from Global Credits Network's systems and Service. Global Credits Network will from time to time award all users who start using the Site with free Bids. The number of free Bids awarded or not awarded is determined solely by Global Credits Network on an account by account basis.

A bid is registered and counted only when Global Credits Network's system registers the bid. A bid is not counted and valid when it is sent from the user's Web browser, but when Global Credits Network's servers receive and register the bid request.

It usually takes less than a second for a bid to be registered, however it may take up to several seconds or longer for Global Credits Network to receive the bid if there is a delay in the network or if the system is under high stress. Global Credits Network is not responsible for any delays that occur in bidding or in the auctions. Global Credits Network strives to make the Global Credits Network timer clocks as accurate as possible. While Global Credits Network believes that auction timers are very accurate, Global Credits Network cannot and does not guarantee that the system, including the bidding clock, will always function reliably.

Section 14 All bids are final. Winning bids and their associated fees are non- refundable for any reason.

To comply with fair and honest auction practices, Global Credits Network will reschedule auctions that end prematurely due to severe third party or technical problems to a later time. In such events, where all bidders aren't able to participate normally in the auctions, Global Credits Network will return all used Bids from such rescheduled auctions to all involved bidders.

Section 15 Winning Limits

As described in the House Rules, which are incorporated by reference, each user may win the same item, in the same auction type, only once in a limited time period, as specified in the details for each auction. The winning limit resets automatically once the period has passed from the end onf the auction. The system will prevent users from placing bids on an auction if they have already won the same product during the period. All the booked [NAME] will automatically be canceled for the other auctions of the same product, when the user wins an auction.

Furthermore, each user may win up to 50 auctions per week. Once a user has reached the 50 wins limit, the system will prevent them from placing bids on any auctions, and all booked [NAME] will automatically be canceled. The weekly winning limit resets at 00:00 PST on the day of the week you created your account.

Global Credits Network reserves the right to, from time to time review the guidelines for any winning limits and may at any time under its sole discretion limit accounts from winning an excessive amount of auctions. Global Credits Network attempts to limit some auctions to users of comparable skill, as determined by Global Credits Network, to enhance user experience and equal chances of winning auctions. In so doing, Global Credits Network may limit which auctions are available to particular users based on any factors deemed appropriate by Global Credits Network in its sole discretion, including experience of the user, historical success of the user, demographic factors, prior bidding and spending activity, and other factors. In particular, Global Credits Network may limit certain auctions to less experienced or successful users in any manner Global Credits Network deems appropriate to optimize the overall user experience of all Global Credits Network users. You acknowledge that You may be, and you consent to being, excluded from auctions at Global Credits Network's discretion. This limit is put in place to ensure that all users have a high quality of user experience.

Section 16 How the Auctions Work

With each bid submitted, the price of the item on which the user is bidding increases by $0.01. A bid submitted by the user constitutes an offer from that user to Global Credits Network to conclude a contract to purchase the item. A contract to purchase the item does not materialize until the auction is finished and the last bidder has followed all the steps provided for in this Section. The purchase contract will exist between Global Credits Network and the user who has submitted the highest bid up until the point when the last bidder has submitted the last qualifying bid of the respective auction.

Each new bid resets the 'countdown time' for the auction. The countdown time for each of the auctions is shown on the auction details. The auction ends when no more bids are submitted within the remaining time stated. However, an auction may not end if anyone else except the highest bidder still has Bids booked on their [NAME]. In the event of heavy network lag, the [NAME] may place the bid with a slight delay with the system registering the bid 1+ seconds after the auction's countdown time. Such bid will be completely valid, provided that the bidder had booked his [NAME] within the auction's countdown time.

The user who submits the highest bid and is the last to bid wins the auction. All other Bids on the item expire and will not be refunded. The last bidder is determined based on the records in Global Credits Network's database and Global Credits Network's decision regarding the identity of the last bidder shall be final. If a bid is placed too late, does not reset the timer of an auction or is not correctly registered by the system, it is then invalid. Even though this bid may be the last bid on an auction, it is the last and highest valid bid on an auction that wins the auction.

An invalid bid is one where the auction timer is not reset after the bid has been placed. Global Credits Network recommends its users to always bid at least 5 seconds prior to the auction timer reaches zero, as otherwise the bid might be reflected as accepted by the system, but in reality be received too late.

Global Credits Network is not responsible for third party abuse and manipulation of the Global Credits Network service, for example, if other users create unfavorable environments on the Site that then results in lost bids. In that case, and other cases of third-party abuse, Global Credits Network shall assume no responsibility, and you expressly release Global Credits Network and its parent company Global Credits Network, LLC of any liability and further agree to indemnify Global Credits Network and Global Credits Network, LLC.

Global Credits Network is constantly attempting to maintain fairness and balance in its auctions therefore some new users or users who have lost auctions may receive special promotions, access to special auctions, and/or free Bids through site features. This is designed to maintain fair practice and helps balance and create a great auction experience for all users.

Section 17 Notification of the Win / Acceptance of the Win / Payment

paid the total amount reflected on the 'payment page', the win is accepted. The winner will also receive a notification of the win by e-mail with a request for payment.

Orders may be subject to sales tax (when applicable and required by law). For [Instant Buy] orders the tax is based on the [Instant Buy] price and for auction wins the tax is based on the final auction price.

The user may obtain and be legally entitled to the product only after the user fully pays for the product and all of the applicable Bids used to obtain the product. Should the user not pay for Bids that have already been purchased, payments received shall be viewed as payment toward the Bids not yet paid for, and a right of retention shall be exercised with regard to the item purchased at auction until all Bids and the total price have been paid in full.

Global Credits Network may offer the option to exchange the auction win to bids. If the user accepts the exchange to bids offer the bids are added to the user's account, and the user loses the option to pay the auction price (plus applicable taxes) to obtain the item. The offer may change over time and vary between users and auctions.

If the user does not receive the product won or product obtained through "[Instant Buy]", the user must file in a claim of non-receipt via e-mail to [email protected] within thirty (30) calendar days of the purchase, or Global Credits Network's obligation to deliver the product will end. No refunds of the purchase amount or cost of spent Bids to win the item will be returned to the user.

Global Credits Network is not responsible for stolen or lost items. In the event that a product is stolen or lost, Global Credits Network will do its best to help customers upon request, by providing tracking information received from the supplier, as well as screenshots or copies of the sales receipt and possible shipping confirmation, if available.

Section 18 Delivery

Unless otherwise agreed, delivery will be made from Global Credits Network's supplier's warehouse or from Global Credits Network's warehouse to the address provided by the user. Deliveries are made solely within the continental United States. Global Credits Network may engage third parties to satisfy its contractual obligations without being required to notify the buyer. Obvious damage to the item from transport or packaging damaged during transport is to be reported to the delivery company upon taking delivery.

Should Global Credits Network not be able to deliver the item ordered for whichever reason, Global Credits Network is entitled to declare rescission to the user or to substitute the item with a comparable replacement product with similar features. Global Credits Network may also choose to replace the item ordered with a gift card of the value of the item that the user may choose to use to obtain the same product. This also applies for items ordered through [Instant Buy]from the Global Credits Network store.

If the product delivered is damaged, defective, or otherwise does not match the product description, Global Credits Network will replace the product at Global Credits Network's expense. Please contact [email protected] to arrange return and replacement of any such product. Replacement is not covered for any items shipped to a freight forwarding company and shipment to a freight forwarding company is not permitted under these Terms.

Section 19 Right of Substitution

Subject to the cancellation policy specified herein, Global Credits Network may substitute another similar item of the same general character or function, provided it has the same or higher retail value, for purposes of delivery to the user. Global Credits Network may substitute another similar item of a lesser value if the user requests one, or furnish the user with a gift card. A gift card may be the most suitable substitute solution for challenges related to product availability or supplier challenges. Such right of substitution may be necessary from time to time if, for example, unforeseen or undetected challenges arise with the manufacturing or inventory system of the supplier, impacting the ability to deliver the exact item sought by the user.

Section 20 Product Correction

If Global Credits Network is unable to provide the user with the item auctioned due to unforeseen circumstances, Global Credits Network in its absolute discretion, reserves the right to offer the winner an alternative item in the same price range or the equivalent of the item's Manufacturer's Recommended Retail Price ('MSRP') in Bids.

Should subsequent correction be undertaken by way of delivery of the item originally auctioned, the user shall be obligated to return to Global Credits Network the substituted item delivered within 30 days at Global Credits Network's expense.

Items delivered shall remain Global Credits Network's property until payment in full of the total price, including for the Bids used in the auction. Until such time as full payment has been made, the user undertakes to store the item separately from their other possessions and to insure it. Global Credits Network shall have full rights of access to the place where the item is located during normal business hours to take possession of it.

Section 21 Merchandise Sources

You acknowledge that items sold on Global Credits Network may come from suppliers where one or more ultimate Global Credits Network shareholders owns an interest, or there are directors or advisors shared between Global Credits Network and the supplier. The selection of products and services available on Global Credits Network is always based on price, customer satisfaction, and product reviews.

Section 22 Manufacturer's Warranty and Disclaimer

Global Credits Network does not manufacture or control any of the products or services offered on the Service. The availability of products or services through the Service does not indicate an affiliation with or endorsement of any product, service or manufacturer. Accordingly, Global Credits Network does not provide any warranties with respect to the products or services offered through the Service. However, the products and services offered through the Service may be covered by a manufacturer's warranty included with the product. To obtain warranty service for defective products, please follow the instructions included in the manufacturer's warranty.

WARRANTIES RELATING TO PRODUCTS OR SERVICES OFFERED, SOLD, OR DISTRIBUTED BY GLOBAL CREDITS NETWORK OR THROUGH THE SERVICES ARE SUBJECT TO SEPARATE WARRANTY TERMS AND CONDITIONS OF USE, IF ANY, PROVIDED WITH OR IN CONNECTION WITH THE APPLICABLE PRODUCTS

OR SERVICES. YOU AFFIRM THAT GLOBAL CREDITS NETWORK SHALL NOT BE LIABLE, UNDER ANY CIRCUMSTANCES, FOR ANY BREACH OF WARRANTY CLAIMS OR FOR ANY DAMAGES ARISING OUT OF THE MANUFACTURER'S FAILURE TO HONOR ITS WARRANTY OBLIGATIONS TO YOU.

Section 23 Limitation of Liability

IN NO EVENT WILL GLOBAL CREDITS NETWORK, ITS AFFILIATES, OR THEIR LICENSORS, SERVICE PROVIDERS, PERSONNEL, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, OR INCIDENTAL DAMAGES INCURRED BY YOU, UNDER ANY THEORY OF LIABILITY AND HOWEVER IT MAY BE CAUSED, EVEN IF FORESEEABLE, INCLUDING BUT NOT LIMITED TO LOST PROFITS, LOSS OF GOODWILL OR REPUTATIONAL HARM, DATA LOSS, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR BREACH OF THESE TERMS, YOUR USE, OR INABILITY TO USE, THE SERVICE, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE SERVICE, OR SUCH OTHER WEBSITES, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE SERVICE OR SUCH OTHER WEBSITES. THIS LIMITATION INCLUDES, BUT IS NOT LIMITED TO, ANY DAMAGE OR HARM CAUSED BY INACCURACY OF THE DATA OR SERVICES PROVIDED (OR YOUR RELIANCE ON SUCH DATA OR SERVICES), CHANGES TO THE SERVICES, PERMANENT REMOVAL OF CONTENT FROM THE SERVICES (INCLUDING LICENSED MATERIAL), OR BREACHES OF THESE TERMS BY YOU. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW. EXCEPT AS PROVIDED ABOVE, GLOBAL CREDITS NETWORK'S SOLE AND MAXIMUM LIABILITY FOR ANY REASON, INCLUDING WITHOUT LIMITATION ANY LIABILITY FOR DAMAGES CAUSED OR ALLEGEDLY CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMMUNICATIONS LINE FAILURE, THEFT OR DESTRUCTION OF OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF RECORDS, WHETHER FOR BREACH OF CONTRACT, NEGLIGENCE OR TORTIOUS BEHAVIOR, OR UNDER ANY OTHER CAUSE OF ACTION, WHETHER IN LAW OR EQUITY, AND FOR ANY DAMAGES ARISING HEREUNDER, AND YOUR SOLE AND EXCLUSIV REMEDY FOR ANY CAUSE OF ACTION WHATSOEVER, SHALL BE STRICTLY LIMITED TO THE ACTUAL AMOUNT PAID BY OR ON BEHALF OF THE USER TO GLOBAL CREDITS NETWORK FOR THE PRODUCT OR SERVICE GIVING RISE TO THE DAMAGE THAT YOU HAVE ORDERED THROUGH USE OF THE SERVICES.

WARNING – Seizures

Due to the flashing elements on the website, some users may experience seizures or loss of awareness or other symptoms linked to an epileptic condition, even if they have never experienced anything like this before.

Anyone who has experienced such symptoms should consult a doctor before using the website.

Section 24 Disclaimer of Warranties

THE SERVICES AND ALL CONTENT AND INFORMATION CONTAINED WITH THE SERVICES ARE OFFERED BY GLOBAL CREDITS NETWORK, ITS AGENTS, OR SERVICE PROVIDERS "AS IS" WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND (EXPRESS OR IMPLIED). USE OF THIS SERVICE IS AT YOUR SOLE RISK. GLOBAL CREDITS NETWORK DOES NOT WARRANT THE SERVICED AGAINST FAILURE OF PERFORMANCE INCLUDING, WITHOUT LIMITATION, ANY FAILURE DUE TO COMPUTER HARDWARE OR COMMUNICATION SYSTEMS, OR THAT THE SITE OR THE SERVICES WILL ALWAYS BE AVAILABLE, ACCESSIBLE, UNINTERRUPTED, TIMELY, SECURE, ACCURATE, COMPLETE, OR ERROR-FREE, OR THAT DEFECTS IN THE SERVICES WILL BE CORRECTED. EXCEPT AS EXPRESSLY PROVIDED IN THESE TERMS, GLOBAL CREDITS NETWORK DOES NOT MAKE AND HEREBY DISCLAIMS, AND YOU HEREBY WAIVE, ANY REPRESENTATIONS OR WARRANTIES, ARISING BY LAW OR OTHERWISE, REGARDING THE SERVICES, OR ANY PORTION THEREOF, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON- INFRINGEMENT, OR ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE OR USAGE IN TRADE. FURTHER, GLOBAL CREDITS NETWORK DOES NOT WARRANT AND MAKES NO REPRESENTATIONS THAT THE SERVICE (OR ANY PORTION THEREOF) WILL MEET YOUR NEEDS OR EXPECTATIONS OR WILL CONTAIN INFORMATION THAT IS CURRENT, ACCURATE, OR SHOULD BE RELIED UPON. YOU ASSUME TOTAL RESPONSIBILITY AND RISK FOR YOUR USE OF THIS SITE, THE SERVICES, AND LINKED WEBSITES. GLOBAL CREDITS NETWORK DOES NOT WARRANT THAT FILES AVAILABLE FOR DOWNLOAD WILL BE FREE OF VIRUSES, WORMS, TROJAN HORSES OR OTHER DESTRUCTIVE PROGRAMMING. YOU ARE RESPONSIBLE FOR IMPLEMENTING PROCEDURES SUFFICIENT TO SATISFY YOUR NEEDS FOR DATA BACK UP AND SECURITY. THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

Section 25 Your Indemnity

You hereby release, and agree to defend, hold harmless, and indemnify Global Credits Network its affiliates, licensors, and service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors, and assigns from and against any and all claims, actions, proceedings, suits, liabilities, damages, settlements, penalties, fines, costs, or expenses (including, without limitation, reasonable attorneys' fees, court costs, and other litigation expenses) arising out of or relating to (a) your violation or breach of any term, condition, representation or warranty of these Terms; (b) your improper or illegal use of the Services; (c) your violation, alleged violation, or misappropriation of any intellectual property right (including, without limitation, trademark, copyright, patent, trade secrets) or non-proprietary right of a third party; or (d) your use or access of the Services, or access by anyone accessing the Services using your username and password.

Section 26 Termination

These Terms will continue until either party chooses to terminate them. This may be done by you at any time upon (1) receipt by Global Credits Network of written notice of your termination, and (2) your ceasing to use and access the Service immediately. If you access or use the Service after providing notice to Global Credits Network, you are assenting to these Terms anew. Termination of these Terms by either shall terminate any rights you may have to use any content or Services provided. Any licenses provided to Global Credits Network to use Licensed Material shall remain in effect unless otherwise agreed to in writing by the parties.

In its sole discretion, Global Credits Network may terminate these Terms or prohibit or suspend access to the Services by you at any time, . Termination or suspension may occur for reasons set forth in these Terms including, without limitation, if: (a) your use of the Service violates these terms or any applicable policy or guideline, is potentially illegal or harmful to Global Credits Network or any other party, or could subject Global Credits Network to liability or additional expense; (b) providing the Service becomes technically or commercially unfeasible; or (c) you fail to pay any charges due to Global Credits Network.

Section 27 Choice of Law

This Agreement will be governed and construed in accordance with the laws of the British Virgin Islands, without regard to the principles of conflict of laws. Each party consents to the exclusive jurisdiction of the courts located in the British Virgin Islands, for any legal action, suit or proceeding arising out of or in connection with this Agreement. Each party further waives any objection to the laying of venue for any such suit, action or proceedings in such courts.

Purchases by U.S. users

The purchases made on the site are subject to state use tax unless specifically exempt. The purchases are not exempt merely because the purchase is made over the Internet, by catalog, or by other remote means. If applicable, you may find the use tax forms and corresponding instructions on the Department of Taxes website of your state.

Compliance with Laws; Taxes

You shall at all times comply with all applicable laws and regulations regarding the use of the Services and your bidding, and purchase, of items through the Services. You shall indemnify and hold Global Credits Network harmless from your failure to so comply. You agree that Global Credits Network shall not have to perform any obligations set forth in this Agreement if such performance would violate any present or future law, regulation, or policy of any applicable government.

Section 28 Agreement to Arbitration and Waiver of Class Rights

You and Global Credits Network agree that any legal disputes or claims arising out of or relating to these Terms (including but not limited to the Services, use of the Services, or the interpretation, enforceability, revocability of the Terms, or the arbitrability of any disputes or claims) that cannot be resolved informally shall be submitted to binding arbitration. The arbitration shall be conducted by the British Virgin Islands International Arbitration Centre under its Consumer Arbitration Rules or as otherwise mutually agreed by you and Global Credits Network. Any judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Claims shall be brought within the time required by applicable law. You and Global Credits Network agree that any claim, action, or proceeding arising out of or relating to the Terms must be brought in your individual capacities, and not as plaintiffs or class members in any class, collective, or representative proceeding. The arbitrator may not consolidate more than one person's claims and may not otherwise preside over any form of a class, collective, or representative proceeding. YOU ACKNOWLEDGE AND AGREE THAT YOU AND GLOBAL CREDITS NETWORK ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION OR REPRESENTATIVE PROCEEDING.

Section 29 No Agency

Global Credits Network is not the agent, fiduciary, trustee or other representative of you. Nothing expressed or mentioned in or implied from this Agreement is intended or shall be construed to give to any person other than the parties hereto any legal or equitable right, remedy or claim under or in respect to this Agreement. This Agreement and all of the representations, warranties, covenants, conditions and provisions hereof are intended to be and are for the sole and exclusive benefit of the parties hereto.

Section 30 Severability

Should any clause or provision hereof be deemed invalid, void or unenforceable either in its entirety or in a particular application, the remainder of these Terms shall nonetheless remain in full force and effect and, if the subject term or provision is deemed to be invalid, void or unenforceable only with respect to a particular application, such term or provision shall remain in full force and effect with respect to all other applications. Further, if any provision of these terms is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision and the other provisions of these Terms shall remain in full force and effect.

Section 31 Claim Limitation.

Subject to Section 28 (Agreement to Arbitration and Waiver of Class Rights), you agree regardless of any statute or law to the contrary that any claim or cause of action arising out of or relating to the Site, the Services, or these Terms must be filed within one (1) year after such claim of action arose or be forever barred.

Section 32 Force Majeure

Global Credits Network will not be liable or responsible to you, nor be deemed to have defaulted or breached these Terms, for any failure or delay in its performance under these Terms when and to the extent such failure or delay is caused by or results from acts or circumstances beyond our reasonable control, including, without limitation, acts of God, flood, fire, earthquake, explosion, governmental actions, war, invasion or hostilities (whether war is declared or not), terrorist threats or acts, riot or other civil unrest, national emergency, revolution, insurrection, epidemic, lockouts, strikes or other labor disputes (whether or not relating to our workforce), or restraints or delays affecting carriers or inability or delay in obtaining supplies of adequate or suitable materials, materials or telecommunication breakdown or power outage.

Section 33 No Waiver

You understand and agree no waiver by Global Credits Network of any term or condition set forth in these Terms shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of Global Credits Network or any Global Credits Network affiliate to enforce their rights under these Terms or at law will not be considered a waiver of such rights.

Section 34 Notices

To you.

Global Credits Network may provide any notice to you under these Terms by: (i) sending a message to the email address you provide, or (ii) by posting to the Service. Notices sent by email will be effective when Global Credits Network sends the email and notices Global Credits Network provides by posting will be effective upon posting. It is your responsibility to keep your email address current.

To Global Credits Network.

You must contact Global Credits Network by email at [email protected] Global Credits Network may update its addresses for notices by posting a notice on the Service. Notices provided by personal delivery will be effective immediately. Notices provided by overnight courier or email will be effective one business day after they are sent. Notices provided by registered or certified mail will be effective three business days after they are sent.

Section 35 Entire Agreement

These terms constitute the entire agreement of the parties with respect to the subject matter hereof and supersedes and cancels all prior and contemporaneous agreements, claims, representations, and understandings of the parties in connection with the subject matter hereof.