IPv4 Bank Terms of usage

Terms of Usage and Purchase 

The Terms of Usage and Purchase (“Terms of Use”) are an ongoing agreement between you/your organization (“User” or “you”) and IPv4 Bank (“IPv4 Bank” or “we”) that governs your use of IPv4’s online marketplace at ipv4bank.com (the “Site”). These Terms of Usage apply to the Site’s usage and your purchase of internet protocol version 4 addresses (collectively “IPv4 Addresses”) from the Site.

You are acknowledging and agreeing to be bound by these Terms of Usage by checking the “I agree to the Terms of Usage” box. IPv4 Bank has the right to change these Terms at any time, with or without notification to you. This is why we advise you to read the Terms of Usage each time you use the Site. Furthermore, specific listings on the Site may contain terms and conditions that conflict with these Terms of Usage. In such a conflict, the specified listing terms will take precedence.

Site Security 

Users are prohibited from jeopardizing the security of the Site or attempting to jeopardize it, including but not limited to: (i) accessing information not intended for them or signing into a server or account they are not permitted to access; (ii) attempting to probe, scan, or test a network’s vulnerability; or (iii) bypass authentication or security procedures without the necessary authority; (iii) attempting to disrupt service to any other user of the Site, host, or network, including, but not limited to, introducing a virus to the Site, “overloading,” “flooding,” “spamming,” “mailbombing,” “crashing,” or “scraping”; (iv) communicating with buyers and sellers or other registered parties directly by unsolicited email, including marketing and/or advertising of goods or services; or (v) altering the header information in any email or newsgroup posting, including any TCP/IP packet header. System or network security violations could lead to legal or criminal responsibility. IPv4 Bank will examine possible violations and cooperate with law enforcement agencies to prosecute users involved in such violations. You accept not to use any device, program, or routine to disrupt or attempt to disrupt the proper operation of this Site or any activity taking place on this Site. You also agree not to use or try to use any engine, software, tool, agent, or other device or mechanism (including, but not limited to, browsers, spiders, robots, avatars, or intelligent agents) to navigate or search this Site other than the search engine and search agents available on this Site and generally available third-party web browsers (e.g., Google Chrome, Mozilla Firefox, and Microsoft Explorer).

Site Usage

Accepting these Terms of Usage, you confirm that you are at least 18 years old. All billing and registration information must be accurate and truthful. Submitting false or inaccurate information is a violation of these Terms of Usage. You are engaging in a legally binding agreement when you place a bid on the website. All bids are valid until the listing closes. If you win a listing, you must buy the item(s) listed. Furthermore, by placing a bid, you agree and understand that we may disclose your information, including information about your winning bid(s), with the seller of the IPv4 Addresses for which you bid (“Seller”) and any other party to the extent necessary to complete the transaction. IPv4 Bank has the right to refuse anyone access to the Site and services at any time and for any reason, with or without notice or explanation.

Process to participate in the Marketplace

On this website, IPv4 addresses will be sold using an online platform that has 3 options:

  1. Tender procedure (“Tender”). In accordance with the sale process outlined above, a tender will take place via a competitive private bidding process detailed below. If the user wants to bid on a block of IPv4 addresses in a competitive private bidding procedure, the user must specify a bid amount. To be qualified for the tender, the bid must be: (i) equal to or higher than the minimum opening bid, (ii) placed before the Tender’s planned expiration period. Each user has the right to send only one bid before the tender expiration period. When the timer is closed, we will send a notification through both; the notification center in the user’s account on the website and the assigned email address related to each user) to all bidders, informing them about the highest price the Seller receives and give all users last chance to send their final bid’s price. They will have 24 hours to respond before announcing the winner’s name.
  2. Auction procedure (“Auction”). In accordance with the sale process outlined above, auctions will take place via a competitive bidding process detailed below, and when the user wants to bid on a block of IPv4 addresses in a competitive bidding procedure, the user must specify a bid amount. To be qualified for the auction, the bid must be: (i) equal to or higher than the minimum opening bid or higher than the current winning bid, as applicable; (ii) placed the bid before the auction’s planned expiration period and (iii) placed a bid based on the bid increments specified on the bid page as follows:
    • A minimum bid increase of $50 will apply to bids under $10,000.
    • Minimum increments will be $100 for bids that are over $10,000 but under $20,000.
    • Minimum increments of $250 will be required for bids that are over $20,000 but under $100,000.
    • Minimum increments will be $1,000 for bids that are more than $100,000 but lower than $500,000.
    • Minimum increments of $5,000 will apply to bids that are greater than $500,000 but less than $1,000,000 in value.
    • Minimum increments for bids over $1,000,000 will be $10,000.
    • (Bid increments may be changed at any time.)

    Prolonged Bidding: The auction will be extended by 2 minutes if a bid is placed in the last 5 minutes before the initial expiration time. The Auction will be prolonged once more for 2 minutes if a bid is placed before the additional 2 minutes have passed. This will repeatedly happen until no further bids are placed during the additional 2 minutes of the auction.

    If a bid is considered the winning bid, a notification will be sent to the email address User provided at account registration, as modified by the User as needed. It is the User’s obligation to keep the email address up to date and check email regularly to ascertain if the User is the holder of the winning bid for any Auction in which the User participated. IPv4 Bank is not liable if an Email Notification fails to reach a successful bidder for any reason, including, but not limited to, technical issues or other system errors.

  3. Buy Now procedure (“Buy Now “) User can place an offer through the purchase of IPv4 Addresses marked as “Buy Now” via bidding on the set sale price. To be qualified for the Buy Now, the bid must be: (i) equal to the specified bid price, (ii) placed before the “Buy now” planned expiration period.

Diligence

Users can access the precise IP Addresses being offered for sale after completing the site’s registration process, which includes signing a non-disclosure agreement (or “NDA”). However, DIRECT CONTACT BETWEEN BUYERS AND SELLERS IS STRICTLY PROHIBITED AND IS IN VIOLATION OF THE NDA. If the User needs extra information for its diligence process, the User may contact IPv4 Bank. Before placing a bid in an Auction or Tender on this site, the User should perform any due diligence necessary by the User or User’s firm to acquire IPv4 Addresses. User agrees that it has performed any necessary due diligence on the IPv4 Addresses for which User has placed and is purchasing the IPv4 Addresses in their “AS IS” condition by participating in any Auction/Tender on this Site by placing a bid.

Compliance Declarations

The user represents and warrants the following by submitting a bid in any Auction/Tender/Buy Now on this website: (i) the user has done all required due diligence on the IPv4 addresses for which the user has bid; (ii) the User agrees to abide by all applicable laws and regulations, including but not limited to the Foreign Corrupt Practices Act, and is aware of and understands them. User further acknowledges and agrees that neither User nor any person or entity acting on User’s behalf in connection with the services under this agreement shall engage in any payment, promise of payment, authorization of payment, or other forms of value transfer intended to exercise illegal or improper influence, to: (a) any official or employee of the government (including those working for corporations that are owned and managed by the government as well as public international organizations); any political party, its representative, or any candidate for public office; (c) any person who acts as a mediator between the parties listed in (a) and (b) above, including but not limited to agents or relatives of government officials, in exchange for money made to any government official; (d) anybody else involved in the Seller’s activities who acts corruptly or improperly in an effort to win or keep business or to gain any advantage; or (e) any corporate entity marketing a rival product with the intent of eliminating or restricting competition, including, but not limited to, market division agreements. User further agrees that User will not pay any money to any other person or entity if doing so would be against the laws of the country in which the transaction is made; (ii) User will abide by all export control laws of the United States, Europe, and Canada that apply to the transactions contemplated herein and may forbid the sale and assignment of IP addresses in certain sanctioned or embargoed nations.

Purchase Price; Winning Bids 

If the User’s bid for specific IPv4 addresses (“Addresses Won”) is determined to be the winning bid after the auction, the User will be the successful bidder (“Winning Bidder”). After being selected as the winning bidder, the user consents to purchase the addresses won as soon as possible in accordance with the conditions and guidelines outlined in these terms of usage, the email notification, and any other information provided on the site or agreed upon by the user, seller, and IPv4 Bank. The winning bidder must wire the purchase amount (the “Purchase Price”) as directed in the email notification within five (5) business days after being selected as the winning bidder. The next highest bidder in the auction or Tender may be contacted if the winning bidder fails to pay the purchase price on time, and IPv4 Bank may, at its sole discretion or in consultation with the seller, offer to sell the addresses won to that bidder at that bidder’s bid price, or it may post the addresses won on this site for sale in a new Auction/Tender. Despite the aforementioned, IPv4 Bank and Seller shall continue to have the right to enforce this Terms of Usage and/or pursue any other applicable remedy. The winning bidder will be required to pay a $500 cancellation fee if the sale is cancelled due to their default.

Buying and Bidding

All successful bids submitted in any Auction, Tender or Buy Now on this Site must be honored by the User, and the User is required to complete the transaction with IPv4 Bank and Seller. Bids are not retracted unless IPv4 Bank deems it necessary. Bid manipulation is strictly prohibited in any form and for any reason. Any breach of this condition may result in the suspension of your account, among other things.

Closing Procedures 

All purchases of IPv4 addresses made through the Site are subject to the following closing procedures:

  1. Within five (5) business days of being selected as the Winning Bidder, the Winning Bidder must pay the Purchase Price (and, if applicable, the Transfer Fee) to escrow.com in addition to escrow costs until the transfer of the Addresses Won as provided herein.
  2. Within three (3) business days of receiving confirmation from IPv4 Bank that the Purchase Price has been received in escrow.com, the seller must commence the RIR, NIR, or Inter-RIR transfer process by submitting the necessary transfer request to the relevant Regional Internet Registry (“RIR”) and/or National Internet Registry (“NIC”) (“NIR”). The winning bidder must work with IPv4 Bank and Seller to provide all information reasonably required for Seller to complete the transfer request.
  3. To get RIR and/or NIR approval for the transfer, the Seller and the Winning Bidder must work cooperatively and promptly with the pertinent RIR(s) and/or NIR(s). All RIR and/or NIR requests for information or signed documents must be answered by the seller within three (3) business days.
  4. The Winning Bidder is responsible for paying all RIR and/or NIR transfer costs required to effectuate the successful transfer of the Addresses Won into the Winning Bidder’s RIR or NIR account. The transfer fees will be billed and collected along with the initial escrow deposit. The transfer fees will be deducted from the escrowed funds and paid to the appropriate RIR or NIR.
  5. IPv4 Bank, in conjunction, will ask Escrow.com, if applicable, shall (i) release the Purchase Price to Seller, less IPv4 Bank’s commission, and (ii) if requested by Winning Bidder, obtain a signed Assignment of Assets from Seller and release same to Winning Bidder, upon confirmation of the completed transfer from the Winning Bidder’s RIR or NIR and updated registration in the Winning Bidder’s RIR or NIR registry.
  6. If there is a disagreement between the winning bidder and the seller over the release of the funds under this agreement, Ipv4 Bank will ask escrow.com to hold the money until a court resolves the matter with the appropriate jurisdiction in accordance with these terms of use or by an agreement by both the winning bidder and the seller.

Fees for RIR Transfer

The winning bidder accepts responsibility for all RIR transfer fees. The Winning Bidder will be charged RIR Transfer Fees in addition to the Purchase Price escrow. Upon receipt of an invoice, the seller will pay the RIR transfer fees directly to the RIR and will be refunded from the escrowed money. If the transaction is cancelled due to circumstances beyond the Winning Bidder’s control, the Winning Bidder will be compensated for the pre-paid transfer fees.

Purchases and Cancelled Bids

According to IPv4 Bank, there can be some offers or purchases that can’t be accepted or businesses from which IPv4 Bank or Seller cannot accept offers. These bids or orders may be cancelled at IPv4 Bank’s discretion. Ipv4 Bank maintains the right to reject or revoke any bid or purchase for any reason, at its exclusive discretion of the Seller’s decision. The following circumstances, among others, could lead to the cancellation of a bid or purchase: (a) Inaccuracies in submitted data; (b) Informational mistakes regarding products or bids; or (c) Fraud or credit alerts. Although IPv4 Bank verifies the accuracy of the IPv4 Address listings and bid information, mistakes might happen. If there is an error, IPv4 Bank reserves the right to refuse a transaction or take an IPv4 Address offering out of stock without incurring any costs. IPv4 Bank may immediately terminate your account, disable your password, and pursue any other remedy available to IPv4 Bank or its affiliates if you violate any term or condition in these Terms of Usage.

Regional Internet Registry Approval and Deposits of Transfers

RIR permission is required for all IPv4 address transfers (“RIR Approval”). Prior to placing a bid in an Auction/Tender/Buy Now, users are advised to apply for pre-approval (“Pre-Approval”) with their local RIR to receive the needed number of IPv4 addresses; however, Pre-Approval is not necessary to take part in an Auction/Tender/Buy Now to buy IPv4 Addresses on the Site. The deposit will be 500 USD ($500.00), plus any transfer costs that have been paid (the “Deposit”). The sale of the addresses won to the winning bidder may be cancelled by IPv4 Bank and Seller, and IPv4 Bank may keep the deposit if the winning bidder is unable to get RIR approval to receive the transfer of the addresses won within forty-five (45) days of being declared the winning bidder.

The winning bidder consents that the IPv4 Bank and Seller may keep the deposit if it cannot obtain RIR approval within forty-five (45) days of being declared the winning bidder. If delays brought on exclusively by the Seller prevent the transfer of the addresses won into the winning bidder’s RIR or NIR account within forty-five (45) days of the auction’s or Tender’s conclusion, the winning bidder may revoke the sale of the addresses won. The winning bidder then has the option of either having the entire purchase price returned to them or having the money credited to their account for use on future purchases made on the site. Additionally, the User agrees to sign any agreements with the RIR deemed reasonably necessary to receive the transfer of the Addresses Won, such as RIR membership agreements and registration service agreements, and to use its best efforts to cooperate with its RIR throughout the RIR Approval process.

No Warranties

All sales are final, on an “As-Is, Where-Is,” “In Place,” “With All Faults” basis with no conditions or warranties either expressed, implied, statutory, or otherwise, including, without limitation, warranties or conditions as to title, description, fitness for a particular purpose, quantity, quality, merchantability, state, condition, location or otherwise, provided, however, that upon closing of any transaction (after RIR approval of the transfer) registration of the Addresses Won with the appropriate RIR shall be fully transferred to the Winning Bidder. Please evaluate the assets for any due diligence before bidding. If any parties require additional information about the assets prior to the auction, please contact IPv4 Bank at info@ipv4bank.com.

Neither Seller nor IPv4 Bank, nor any of their respective affiliates, subsidiaries, officers, directors, employees, members, agents, or representatives, shall be liable for any description error of any object or lot contained in a catalogue, or advertisement, or otherwise. The descriptions have been provided for guidance reasons only and should not be relied on for correctness or completeness by the user. The user is presumed to have relied only on its own inspections and investigations.

Indemnification 

In the event that you use the Site or violate these Terms of Use, you undertake to defend, indemnify, and keep harmless IPv4 Bank and its officers, directors, employees, members, agents, or representatives from and against any claims, damages, costs, and expenses, including attorney’s fees.

Liability Limitation

Under no circumstances and no legal or equitable theory, whether in tort, contract, strict liability, or otherwise, shall IPv4 Bank or any of its affiliates, employees, directors, officers, agents, vendors, or suppliers be liable to you or any other person for any indirect, special, incidental or consequential losses or damages of any nature arising out of or in connection with the use of or inability to use the Site, including, without limitation, damages for lost profits, loss of goodwill, loss of data, work stoppage, the accuracy of results, or computer failure or malfunction, even if an authorized representative of IPv4 Bank has been advised of or should have known of the possibility of such damages. IPv4 Bank shall not be liable for any damages in excess of the fees paid by you in connection with your use of the Site during the six-month period preceding the date of the claim.

Site Availability

While IPv4 Bank works to ensure that the Site is typically accessible around-the-clock, IPv4 Bank shall not be liable if the Site is unavailable at any time or for any cause. In the event of a system malfunction, need for maintenance or repair, or causes outside of IPv4 Bank’s control, access to the Site may be temporarily discontinued without prior warning. If a system error occurs, IPv4 Bank maintains the right to relist the auction/Tender or modify the bidding periods.

Disclaimer 

This website is provided by IPv4 Bank “As-Is” and “As Available” solely. Regarding the functionality of the website and the information, materials, and inventory products made available there, IPv4 Bank disclaims any express and implied promises and warranties. To the fullest extent permissible by applicable law, IPv4 Bank disclaims any warranties, whether express or implied, including but not limited to implied warranties of merchantability and fitness for a particular purpose. In addition to the foregoing, IPv4 Bank disclaims any implied warranties regarding any inventory products purchased through this website. By using the website, you acknowledge that you are doing so solely at your own risk. This disclaimer is an important part of these terms and conditions.