Domain Brokerage Service Terms and Condition
Domain Brokerage Services Terms and Conditions
WTI Users who would like the support of a Domain Broker to
assist them with the purchase or sale of a previously registered domain name
may utilize the Domain Brokerage Service provided by WTI. Users who choose to
order WTI's Domain Brokerage Service authorize WTI to exclusively work on their
behalf in an attempt to purchase, sell or otherwise transfer rights and
obligations in the Domain of their choice, whether listed for sale in WTI
Domain Marketplace or not. The complete Domain Brokerage Terms and Conditions
define the terms of use for the Domain Brokerage Service and are hereby
incorporated by reference. Advance notice is not required for any
prospectively-effective change in the domain brokerage services offered or fees
charged therefore. Please refer to WTI’s current Price List for further
details.
**IF YOU ("YOU" OR "USER") DO NOT AGREE
TO BE BOUND BY THE TERMS AND CONDITIONS FOR WTI’S BROKERAGE SERVICE, DO NOT USE
OR ACCESS THIS SERVICE**
1. Description of Service
WTI offers a Domain Brokerage Service for prospective buyers
or sellers of domain name properties (“Domain Brokerage Service” and/or
“Brokerage Service” and/or “Service”) whereby, upon application and acceptance
to the Service, a member of the WTI domain brokerage team will serve as the
exclusive representative on behalf of the buyer or seller for the purpose of
negotiating either the purchase or sale of a domain name in accordance with
these terms and conditions. In ordering
WTI’s Brokerage Service, you consent to one of WTI’s domain brokers exclusively
representing you as the buyer or the seller of a domain name.
2. Scope of Services
WTI’s Domain Brokerage Service is available to both
prospective buyers and sellers of pre-registered domain name properties. WTI’s
Brokerage Service may only be used for the bona fide, good faith intention to
acquire or sell the domain name indicated at the time of applying for or
ordering the Service and may not be used for the purposes of investigating ownership
status, gathering evidence for the purpose of legal action or to otherwise
violate the laws of the Commonwealth of Massachusetts, the United States or any
applicable jurisdiction.
2.1. Buyers Exclusive Brokerage Service
If you would like to purchase a domain name which has
previously been registered by another person or entity, you may apply to WTI’s
Exclusive Brokerage Service for buyers.
If accepted, a WTI domain broker will work on your behalf to negotiate
the purchase and sale of the domain name you indicate during the application
process. For purposes of this section the terms you, user, and/or buyer
interchangeably refer to you, the registered user seeking Buyer’s Brokerage
Service.
2.1.1. WTI's Duties
2.1.2.1. Ordering and Application Process
In order to apply for this service, you must request the
Buyer Brokerage Service via the buyer brokerage webpage which can be found by
submitting a written application in person or by facsimile. When submitting an
Application via the brokerage webpage, the Buyer must complete the Buyer
Application (“Buyer Application” and/or “Application”), which serves as an
application for acceptance of entry into the Brokerage Service. The Application provides WTI with certain
information pertinent to the domain name that he/she desires to purchase.
During the Buyer Application, you must provide to WTI the
requested information, including but not limited to: the domain name(s) that
you want the broker to pursue for acquisition; the maximum budget to be
expended to acquire the selected domain name (excluding respective fees listed
on WTI’s current Price List); your intended use of the domain; whether you are
a first-time brokerage customer; whether you have owned the specified domain(s)
at any time in the past; and whether you have been granted related trademarks
by state or federal agencies. You must also indicate whether or not you have
tried to negotiate or otherwise communicate with the current or previous
owner(s) of the domain in the past and whether you have attempted to negotiate
directly with the current owner. If this
has previously occurred, you must disclose to WTI the date of last contact,
original asking price, amount of last highest offer made as well as any other pertinent
information related to prior direct negotiations. You will also indicate on
this page the method of payment you wish to use to pay the non-refundable
retainer fee. This fee will only be
charged should your Application be accepted.
Please refer to WTI’s current Price List for further details.
To complete the Application process, you must agree to be bound to WTI’s Terms
and Conditions for WTI’s Brokerage Service by clicking the appropriate check
box.
2.1.2.2. “Submit Application” or “Cancel My Request” Option
Once you have completed your Application, and have selected
continue, an assessment of your order will be generated automatically. You may choose here to either move forward
with your Application by selecting “Submit Application” or choose to cancel the
Application by selecting, “Cancel My Request”.
If you select the “Submit Application” option, your
Application will be sent to WTI’s brokerage department to be reviewed for
probability of successful negotiation.
WTI will send you an accepted or declined notification email within two
(2) business days of the date of order to the email address registered in your
user account. Your credit card or PayPal
account will not be charged until the application has been accepted.
If the User selects “Cancel My Request”, you will be
redirected to WTI’s brokerage homepage. Once your cancellation is received by
WTI, you have no further obligation with regard to this Application and/or
Service.
You understand and acknowledge that some Applications may be
declined due to a low probability of a successful purchase and sale negotiation
despite the best efforts of the domain broker.
You will not be charged for any declined requests for the Service. You may also check the status of your
Application on the Brokerage Status page, accessible from the Buyer Control
Panel.
2.1.2.3. Assignment of Domain Broker
Upon the successful application to the Buyer Brokerage
Service, you will be assigned a domain broker in accordance with the
approximate value of the domain you wish to acquire. Your domain broker will
then seek to establish contact with you through the contact information you
have provided in your WTI user account and shall explain the domain brokerage
process and a schedule for providing updates on the course of negotiation.
2.1.2.4. Successful Negotiation of a Purchase and Sale
In the event your assigned domain broker is successful in
establishing the foundation for a purchase and sale transaction in accordance
with the agreed upon budget, you consent to the use of WTI’s Standard Purchase
and Sale Agreement as the controlling agreement for the purchase of the
selected domain name. Should the current
owner of the domain name insist upon purchase and sale terms that deviate from
WTI’s Standard Purchase and Sale Agreement, you agree that any necessary legal
support and/or legal representation (including associated costs) for the
reviewing or drafting of such changes shall be your sole responsibility and
acknowledge that legal services are not included in the Buyer’s Brokerage Service. WTI’s Standard Purchase and Sale Agreement
can be provided to you upon request.
Please note that WTI’s Terms and Conditions for the Brokerage Service in
addition the terms set forth by WTI’s general user agreement apply during all
stages of the brokerage relationship between WTI and User.
2.1.2.5. Limitations of Buyer Brokerage Service
PLEASE NOTE THAT ORDERING WTI’S BUYER BROKERAGE SERVICE DOES
NOT MEAN THAT YOU ARE BUYING THE DOMAIN DIRECTLY FROM WTI.
By ordering WTI’s Brokerage Service, you consent to one of
WTI’s domain brokers to negotiate on your behalf in an attempt to acquire the
requested domain from the current owner. Users of the Buyer’s Brokerage Service
agree that WTI, through its Brokerage Service does not in any way provide any
form of warranty and/or guarantee the availability of the domain, the
willingness of the owner to sell, or any other guarantee with regards to the
purchase of the domain name. Upon
successful negotiation for the purchase of the domain, you agree that the
payment and transfer process shall be conducted through WTI's transfer and
escrow service and agree to pay the fees associated with this service. Please
refer to WTI’s current Price List for further details.
2.1.2.6. Expiration of Buyer Brokerage Service
Expiration of the Buyer Brokerage Service (and any
associated agency relationship) may occur under a variety of circumstances
which may include, but are not limited to, domain availability, ability to
contact domain owner, and the timely and consistent communication between you
and your domain broker. If you rescind
the maximum investment amount stated during the Brokerage Service application
process or otherwise fail to respond to WTI’s attempts to contact you within
ten (10) business days, or the issuance of three periodic reminder e-mails,
whichever occurs first, the existing brokerage order will expire and will not
be reactivated absent a new application to the Brokerage Service.
2.2. Sellers Exclusive Brokerage Service
If you would like to sell a premium, high earning domain
name registered in your name, you may apply to WTI’s Exclusive Brokerage
Service. If accepted, you will receive exclusive representation of a domain
name, owned by you, for a set period of time though WTI’s Exclusive Brokerage
Services for Sellers (“Seller’s Exclusive Brokerage Service” or “Seller’s
Brokerage Service” or “Service”). As part of the Seller’s Exclusive Brokerage
Service, an experienced WTI domain broker will actively market and seek out
interested third party buyers to effectuate the sale of the User’s domain
property. For purposes of this section the terms you, user, and/or buyer
interchangeably refer to you, the registered user seeking Buyer’s Brokerage
Service.
2.2.1. Minimum Requirements
In order to apply for Exclusive Brokerage Services, the User
must fulfill the following minimum requirements:
Brokerage Agreement Term of Six (6) Months
Domain must contain generic terms only
Domain must contain fewer than three words
User must have at least three months of verifiable traffic
logs and revenue statements
OR the Domain(s) MUST be parked at WTI for the duration of
the Exclusive Brokerage Agreement (i.e. 6 Months)
Domain(s) must receive at least 2,500 Unique Visitors per
Month (per domain);
OR the Domain(s) earn $500 USD per Domain per Month in
parking revenue
Domain Owner MUST agree to submit any and all previous
correspondence, proposals, and/or agreements to WTI for informational purposes
and marketing efforts.
2.2.2. WTI’s Duties
Upon applying to WTI’s Seller’s Brokerage Service, a member
of WTI’s Brokerage Department will review your application to ensure that you
fulfill the requirements set forth by this section. You can always view the
status of through the Member Area on the Brokerage Status page, accessible
through the “Offers Received” section.
At WTI’s sole discretion, if accepted, a WTI domain broker will be
assigned to your account to assist in your efforts to sell the domain name
indicated in your brokerage application.
Your WTI broker will attempt to negotiate the sale of the specified
domain name on your behalf and in accordance with a minimum reserve budget as
established between you and your WTI domain broker.
2.2.3. Seller’s Duties
2.2.3.1. Ordering and Application Process
If you believe that you meet the requirements set forth
above, from the order page, you will have the ability to apply for the Seller’s
Brokerage Service to sell your domain(s) by clicking the “Sell Domains”
option. You will then be directed to the
Domain Brokerage for Sellers Application page, whereby you must provide a
Seller’s Application (“Seller’s Application and/or Application”) containing
information to WTI, which may include but is not limited to the following
whether a first-time Seller, the domain name(s) to be sold, how long the Seller
has owned the domain name, desired sales price(s) (i.e. excluding WTI fees),
minimum reserve price, (i.e. lowest amount acceptable, excluding WTI fees),
number of and prices for previous offers received, history of past use (i.e. development,
direct sales, monetization, lease, etc), any and all traffic logs, etc.
To complete the Application process, you must agree to be
bound to WTI’s Terms and Conditions for WTI’s Brokerage Service by clicking the
appropriate check box. WTI will then
display a confirmation page for the User.
WTI then has five (5) business days to process the order in which a WTI
broker will review, then accept or decline the request.
2.2.3.2. Seller’s Application Accepted
If your Application has been accepted, you will be notified
that the brokerage request for the specific domain has been accepted. A senior broker will then be assigned to your
account and will outline a reserve price for your domain name(s). Prior to the commencement of the active
marketing of the requested domain, you agree that traffic and revenue data must
be collected prior to presenting the domain name into the market. Once WTI receives all pertinent information
with regards to the specific domain, you will be presented with an Exclusive Seller’s
Brokerage Agreement.
2.2.3.2.1. Exclusive Brokerage Agreement
If you meet the aforementioned requirements, and if your
application has been accepted by WTI, you will be presented with Exclusive
Brokerage Agreement for a minimum period of six (6) months (“Term”). This Agreement specifically outlines the
duties and responsibilities of both WTI as well as the seller and must be
signed and agreed to prior to the active marketing of your domain name. WTI’s
Exclusive Brokerage Agreement (“Agreement”) can be provided to you upon
request.
During the Agreement Term, one of WTI’s senior broker’s will
act on your behalf to aggressively market and attempt to sell the requested
domain. WTI reserves all rights to pursue the Agreement to the full extent of
the law should you fail to strictly adhere to the terms.
2.2.3.3. Seller’s Application Denied
If it is determined that your Application has not been
accepted, you will be notified via email that your request for has been
declined. Domains will be rejected when
market analysis suggests that our exclusive service would not be suited for
this particular domain or that the Seller does not fulfill the minimum
requirements as set forth above.
2.2.3.4. Limitations of Seller Brokerage Service
By ordering WTI’s Brokerage Service, you agree to enable and
allow one of WTI’s brokers to exclusively represent you as the current domain
owner to facilitate the sale of a domain name(s). From the effective date noted
on the seller’s Exclusive Brokerage Agreement throughout the remainder of the
Agreement Term, you acknowledge that you may not list the domain name(s) at
issue for sale with any other listing services, marketplace, or any other sale
channels. You are further aware that selling
the specified domain name(s) outside of WTI, during the term of the Exclusive
Brokerage Agreement is strictly prohibited, and may result in legal action
taken by WTI in order to recoup lost commission or other damages. Users of the
Seller’s Brokerage Service agree that WTI, through the Service does not, in any
way, provide any form of warranty and/or guarantee the sale of the domain, the
willingness of prospective buyers, or any other guarantee with regards to the
sale of the domain name(s).
3. Brokerage Service: General Terms
3.1 Fees
The specific associated fees a for both buyers and sellers
Brokerage Service is specified on WTI‘s Price List and is subject to change
without notice. If your WTI domain broker is ultimately unsuccessful in
negotiating the purchase or sale of your domain name, you will pay no fees
beyond the initial charge for retaining the services of your WTI domain
broker. Any retainer fees that may apply
are NON-REFUNDABLE regardless of the outcome.
3.2. WTI’s Duties and Role as a Broker
Under both the Exclusive Buyer’s Brokerage Service as well
as the Exclusive Brokerage Service for Sellers, you agree that WTI, as your
agent, has the express authority to act on your behalf to create a legal
relationship (i.e. purchase and/or sale of the requested domain) with a third party
buyer and/or seller. WTI’s broker will
exercise the utmost good faith to you, whether a Buyer or Seller, regardless of
whether a purchase and/or sale results from the brokerage relationship between
you and WTI.
By participating in WTI’s Brokerage Service, you are giving
WTI permission and consent to act on your behalf in the capacity of domain
broker, whether actively marketing the sale of a domain for a seller, or
attempting to negotiate the purchase of a domain on the buyer’s side. You
understand and agree that once engaged in WTI’s Brokerage Service, whether for
buyer or seller, you are giving WTI the authority to negotiate, actively
market, survey your best interests, budget, time line for acquisition,
obtaining or selling the user’s domain for the fairest market value, and
otherwise using its best efforts as a broker to effectuate the negotiation,
purchase and/or sale of a domain property.
Notwithstanding, it is your responsibility to clearly outline your expectations
with regards to the purchase and/or sale of the requested domain name,
including but not limited to the reserve selling/buying price, time line for
sale, as well as any other requirements sought.
You further understand and agree that WTI has numerous other
listings, and promotes transactions involving other domain names registered to
third parties, some of which may be deemed to compete with your purchase and/or
sale of your domain name(s). User’s of
WTI’s Brokerage Services consent to WTI’s possible representation of such other
entities and shall not deem such activities as acting in bad faith. You are aware, understand, and agree that in
certain situations, depending upon the circumstances, and unless agreed
otherwise in writing, WTI may act as an agent for both a seller and/or potential
buyer of the specified domain name(s).
WTI hereby discloses, and you consent to WTI acting as a dual agent
representing both a domain owner and a potential buyer.
Please note that WTI’s Terms and Conditions for Brokerage as
well as WTI’s general user agreement apply during all stages of brokerage,
whether a Broker is successful at negotiating the purchase and/or sale of the
domain or not.
3.3. Confidentiality of the Parties
Due to WTI’s strict respect for confidentiality, buyers and sellers
who order WTI’s Brokerage Service remain anonymous throughout the process of
negotiation unless WTI is otherwise instructed. WTI records and publishes the
sale price and domain name(s) only. WTI
does not release your personal information to public record. Your name or
company name and contact information may be displayed within your respective
WTI accounts or may be contained on a purchase and sale agreement at the close
of the negotiations. You understand that if either party requests a block of price
and domain name record, an additional fee will be applied. Please refer to WTI’s current Price List for
further details.