ACCEPTANCE OF THE TERMS AND CONDITIONS OF SALE IS MANDATORY TO BID ONLINE.

ENTREPEX – RIGHTS AND OBLIGATIONS

FEES

Buyer fees ($300.00 + taxes) as well as fees for the CARFAX report ($50.95 + taxes) will be added to the bid amount when acquiring an asset.
CARFAX reports are provided only for the following assets: automobiles, motorcycles and motor vehicles.
Please note that taxes, if applicable, will be added to the bid amount when selling the property. The taxes applied vary according to the type of assets, the seller and the type of insolvency.

For more information, contact Entrepex at 514-944-6968.

REFUSAL/REVOCATION
Any special conditions entered in a bid in respect of an offer may, at Entrepex’s discretion, be revoked automatically. This said submission will therefore be null.
Entrepex reserves the right to refuse any offers from a delinquent buyer who has violated the terms and conditions of sale.

SELLERS – RIGHTS AND OBLIGATIONS

OFFER ACCEPTANCE
Bids must identify the value assigned to each lot and the lots may be sold separately.
In order to receive reasonable offers, a starting bid is entered based on the valuation made by Entrepex staff.
The seller is not obliged to accept the higher or any bid that reserves the right to dispose of the property in any other way provided for by law.
The seller reserves the right to revoke a sale if the terms and conditions have not been respected.
The seller reserves the right to cancel without cause throughout the sale process.
In any case, no compensation can be claimed.

TRANSFER OF OWNERSHIP

A registration in the name of the seller will be given to you at the recovery of your assets. Otherwise, a statement will be displayed on the asset sheet.
For assets sold by a trustee in bankruptcy, no registration will be provided. A certificate of nomination and a signed sales contract will be given to you for the transfer to the SAAQ.

For pleasure craft like boat or personal watercraft, the registration of the trailer will be given to you. However, for the pleasure craft licence, it will be the buyer’s responsibility to make the transfer by himself on the Transport Canada website by clicking on the following link: https://tc.canada.ca/fr/transport-maritime/securite-maritime/permis-embarcation-plaisance-0#obtenir The seller will not give you any securities unless otherwise stated in the asset declarations.

Since these are bank takeovers sold by banking institutions and/or bankruptcy trustees, no traffic transit can be provided. It is the buyer’s responsibility to take possession of his assets or to mandate a third party.

BUYERS – RIGHTS AND OBLIGATIONS

CONDITIONS FOR BIDDING

No deposit is required in order to bid.
No buyer under the age of 18 is allowed to bid.
Bids must be submitted online by the date and time indicated on the asset description. Entrepex will stop receiving them spend this time. It is the responsibility of the bidder to ensure that its bid is received by Entrepex.
The bidder will be able to withdraw their bid on their own, before the auction closes, by using the hyperlink “To withdraw your bid, click here.” in the confirmation email.

When submitting a bid, the Bidder agrees to pre-authorize $400 on its credit card in favour of Entrepex, without being obliged to do so and at its sole discretion Entrepex may at any time reduce the amount of the pre-authorization.

The authorization will not be debited from the bidder’s credit card as a waiver penalty. if the bidder wins the auction process and waives the contract of sale of the property by refusing to pay and take possession of the property within seventy-two (72) hours of the closing of the auction, or without prejudice to any other action by Entrepex against the tenderer. Where the Bidder fails to win the Auction or where the Winning Bidder pays and takes possession of the Property within the time period following the closing of the Auction, the Pre-Authorization will be released from the Bidder’s credit card within a reasonable period of time.

RESPONSIBILITIES

The conditions of sale apply to all bids submitted. They are an integral part of the bids and it is the responsibility of the bidders to obtain a copy.
The Bidder is fully aware that its submission is a legal commitment to the Seller, if he wins the auction, he must necessarily purchase the property at the price at which he bid and cannot renounce it without being assessed a penalty of $400. On the bid expiry date, the buyer may not cancel the sale and acknowledges that the agent or seller shall not be liable for any direct or indirect damages arising from the transportation, storage or operation of the property.
No loss due to a cancelled sale, administrative error or processing time can be granted. A breach of the legal commitment will automatically mean a ban on the right to bid and any other measures deemed consistent by the agent.

It is the responsibility of the buyer to read the CARFAX, as no statement will be made by the seller and/or Entrepex regarding a reported accident, incorrect mileage or any other anomalies that may be found in the Carfax report.

ASSET RECOVERY

The purchaser takes possession and removes the goods, at its expense, within 72 hours of accepting the offer to purchase. If you do not take possession within the prescribed time, a storage fee of $20/day will be charged and the seller may dispose of the property otherwise.

Without limiting the generality of the foregoing, it is understood that the failure of the purchaser to pay the price and take possession of the property within the time limit allows Entrepex, in addition to the ordinary remedies available to Entreprex, resell the property and suspend access to its platform to any bidder in default.

Please note that Entrepex disclaims all responsibility for the handling of assets and that a waiver must be signed before loading your purchase. If you hire a third party to collect your purchase, a signed power of attorney must be sent to us.
Additional fees may apply depending on the manipulations to be made with the asset and for the loan of equipment. The buyer must ensure the taking of possession of his agent.

PAYMENT
Full payment must be made by Interac, Interac e-Transfer or bank transfer and the latter must have been cashed to recover an asset. No other method of payment will be accepted. A proof or confirmation of payment is not a full payment.
Currently, no funding is available.

WARRANTY
The goods are sold as seen, without any warranty of quantity and quality from the seller. Bidders must rely solely on their examination and consider that the seller does not give any warranty as to the description, condition and value of the goods and waives any warranty as to the quality and quantity of the goods.

INSPECTIONS/EVALUATIONS

Bidders must rely solely on their review and consider that the seller or Entrepex makes no warranty as to the description, condition and value of the goods and waive any warranty as to the quality, quantity or accuracy of the information of the good. No compensation will be given to the buyer for incomplete or incomplete examination.

Entrepex disclaims all responsibility for errors, changes as a result of the evaluation, or omissions that are identified in the reports provided. Reporting is done through the judgment of our appraisers who use a set of inspection guidelines to ensure consistency across assets. The information and reports are provided for information purposes only and it is the responsibility of the tenderer to ensure the accuracy of the information.
The evaluation can be done online or in person during visiting hours. No test drive is allowed.

Visitors must be vigilant and act safely at the Entrepex site.

BUYERS– ELECTRONIC SIGNATURE

EXCLUSIVE USE
The electronic signature will only be used by authorized purchasers in the course of their duties.

AUTHENTICATING
Before signing a document electronically, the buyer must authenticate in accordance with established security procedures.

CONFIDENTIALITY
The buyer is responsible for maintaining the confidentiality of his identification information and not sharing his access to the electronic signature with third parties.

CONSECUTIVELY EXPLICIT
The buyer must give his explicit consent before using his electronic signature on a document.
This consent will be recorded for future reference if necessary.

DOCUMENT INTEGRITY
The buyer must verify the integrity of the documents before signing them electronically, ensuring that they are complete and correct.

BUYERS – CREDIT CARD

Credit Card Information and Bidding Process

At Entrepex, we are committed to upholding the integrity of our auction process.
In order to achieve this, we request your credit card information.
Please take a moment to review the following details regarding the use of your credit card on our platform:

PURPOSE OF PROVIDING YOUR CREDIT CARD INFORMATION
Entrepex requires users to provide valid credit card information for the purpose of placing bids on assets listed on our platform. This information is securely stored and processed to facilitate a smooth and reliable bidding experience.

HOLDING FUNDS
Upon placing a bid, a hold of $400 will be temporarily placed on the credit card associated with your profile.
The hold will serve as a precautionary measure to ensure the financial commitment of bidders.
This process ensures that all participants in our auctions are genuinely interested and committed.

HOLD RELEASE
The $400 hold on your credit card will be lifted once the bidding process is completed.
This release will occur promptly after the conclusion of the auction, regardless of the outcome.

CHARGE CAPTURE
In the event that you win the auction and decide not to proceed with claiming the asset, the $400 hold will be captured as a processing fee.

REFUND POLICY
Please note that captured funds in the event of a winning auction and subsequent non-claim cannot be refunded.
It is essential to consider your commitment before participating in the bidding process.

SECURITY AND CONFIDENTIALITY
Entrepex takes the security and confidentiality of your credit card information seriously.
Your credit card details are encrypted and securely processed using Stripe, a leading and trusted payment processor, in compliance with industry standards.

Your participation in Entrepex auctions constitutes acknowledgment and acceptance of the terms governing the use of your credit card.