Terms & Conditions

Terms and Conditions : These Terms and Conditions (“Agreement”) by and between you (“User”) and EQT Yard Pte Ltd (hereinafter referred to as “EQT Yard”) establish the terms of your use of EQT Yard’s websites and services on EQT Yard’s platform at www.eqtyard.com (“Platform”) including but not limited to the following functions : listing, selling or purchasing used heavy equipment (“Heavy Equipment”), assets, construction building materials and other items (herein collectively referred to as the “Products”).

Users may also use the Platform (as defined below) to engage third party transportation and logistics services and obtain third party financing.

This Agreement was last revised on 16 November 2020.

  1. GENERAL

 

  1. About : EQT Yard is an online marketplace (eqtyard.com) (“Platform”) that allows vendors/sellers (“Sellers”) and service providers (including but not limited to transport and logistics providers and lenders for financing) (“Service Providers”) to list (“Listing”) and advertise their Products and services to an audience of customers/buyers (“Buyers”) be it through listings or offers or contact with the Buyers. As a Platform, EQT Yard accepts and allows all eligible entities to register, buy and/or sell Products in accordance with and subject to the terms and conditions herein and laws applicable to such Buyers and Sellers.

 

  1. Acceptance of Agreement : Before you participate in any marketplace activities through the Platform, EQT Yard requires that you read and accept the Agreement, Terms of Use (found at https://eqtyard.com/terms-of-use/) and Privacy Policy (found at https://eqtyard.com/privacy-policy/). By checking the boxes on the user registration form, you hereby accept the terms herein and represent that you will be legally and financially responsible for your use of the Platform including but not limited to the purchase or sale of Products and obtaining financing and/or transport from third parties. If you choose not to accept the Agreement, you may not participate in Platform activities including but not limited to selling, advertising or purchasing of Products by means of the Platform or providing or accepting financing and/or transport services by means of the Platform. By buying or selling or obtaining financing or obtaining transport services through the Platform, you agree to do so in accordance with the terms herein. You also agree to comply with all announcements, notices, rules, policies and instructions pertaining to the purchase or sale of Products through the Platform, as well as any amendments of the same as issued by EQT Yard from time to time. EQT Yard reserves the right to revise these guidelines, notices, operating rules, policies and instructions at any time and you are deemed to be aware of and bound by any changes to the foregoing upon their publication on the Platform or upon such changes being communicated to you, be it through email or any other means.

 

  1. Parties to the contract for sale : The actual contract for sale is directly between users of the Platform such as the Sellers and Buyers. EQT Yard and the Platform are not involved in the actual transaction and are not parties to the contract for sale between Buyers and Sellers or to the contracts for financing or transport services. Although EQT Yard may take up the role of escrow agent, EQT Yard is not an agent of the Buyer or Seller. At no point in the transaction does EQT Yard take title to the Products. Any agreement reached between a Buyer and Seller with respect to the terms of sale for the Products is solely between them. As a result, EQT Yard has no control over and does not guarantee the quality, condition, safety, existence or legality of listed products, the truth or accuracy of any Listings, the ability of Sellers to sell Products (be it in their capacity or not), the ability of Buyers to pay for Products, or that any transaction will be completed by the parties. EQT Yard and the Platform are not parties to the contract for sale but intermediaries between the Sellers and Buyers who offers services (including but not limited to advertising, facilitating payment and providing logistics and transportation options) to support the purchase and sale transactions.

 

  1. Parties to the Financing agreement : The actual contract for financing (or its equivalent such as leasing) is directly between users of the Platform such as the lender and the lendee . EQT Yard and the Platform are not involved in the actual transaction and are not parties to the contract for such purposes. Although EQT Yard may take up the role of a neutral independent intermediary to the financing/leasing agreement by forwarding application forms and responses, EQT Yard is not an agent of any party to said agreement. At no point in the transaction does EQT Yard take title to the Products. Any agreement reached between the parties with respect to the terms of loan (or its equivalent) for the Products is solely between them. As a result, EQT Yard has no control over and does not guarantee the eligibility or financial condition or the ability to make payment of the Buyer. EQT Yard also does not have control over and does not guarantee the accuracy or the legitimacy of the information provided by either party for the purposes of the financing agreement or the ability of the lender to loan and the legality of the loan. , EQT Yard has no control over and does not guarantee quality, condition, safety, existence or legality of listed products, the truth or accuracy of any Listings, the ability of Sellers to sell Products (be it in their capacity or not), the ability of Buyers to pay for Products, or that any transaction will be completed by the parties. EQT Yard and the Platform are not parties to the financing (or its equivalent) agreement but intermediaries who offers services (including but not limited to advertising and facilitating applications) to support the purchase and financing/leasing transactions.

 

  1. Parties to the Transport agreement : The actual contract for transport (or its equivalent) is directly between users of the Platform such as either the Seller and the transport provider or the Buyer and the transport provider. EQT Yard and the Platform are not involved in the actual transaction or delivery or transport process and are not parties to the contract for such purposes. Although EQT Yard may take up the role of a neutral independent intermediary to the transport agreement by forwarding requests for quotes and responses, EQT Yard is not an agent of any party to said agreement. At no point in the transaction does EQT Yard take title to the Products. Any agreement reached between the parties with respect to the terms of transport (or its equivalent) for the Products is solely between them. As a result, EQT Yard has no control over and does not guarantee the accuracy or legitimacy of the information (such as shipping address) provided by either parties or the eligibility or financial condition or the ability to make payment or complete the transport process. EQT Yard has no control over and does not guarantee quality, condition, safety, existence or legality of listed products or products intended to be delivered, the truth or accuracy of any Listings, the ability of Sellers to sell Products (be it in their capacity or not), the ability of Buyers to pay for Products, or that any transaction will be completed by the parties. EQT Yard and the Platform are not parties to the transport (or its equivalent) agreement but intermediaries who offers services (including but not limited to advertising and facilitating quotation requests) to support the purchase and transport transaction and process.

 

  1. Entire Agreement : Except as they may be supplemented by additional terms and conditions, policies, guidelines or standards, this Agreement, Terms of Use and any terms set out in the Product Listing contain the entire agreement of the Users and EQT Yard in respect of the sale, purchase, financing and transport of any Product on the Platform and supersedes all previous communications, representations and agreements, whether they were oral or written. In the event of any conflict between the Agreement, Terms of Use and noted Listing terms, the inconsistency shall be resolved in the following order: (a) the Listing terms, (b) the Agreement, and (c) the Terms of Use.

 

  1. Severability : If any provision of this Agreement is held to be invalid or unenforceable, then such provision(s) shall be struck out and the remaining provisions of this Agreement shall remain valid and continue in full force and effect.

 

  1. Waiver : EQT Yard’s failure to exercise or enforce any rights or provisions of this Agreement shall not in any way constitute a waiver of such right or provision. Except as expressly set forth in the terms of this Agreement, the exercise by either party of any of its remedies under the terms of this Agreement will be without prejudice to its other remedies under the terms of this Agreement or otherwise permitted under the law.

 

  1. Survival of Terms : All terms and provisions in this Agreement relating to indemnification, disclaimers, limitations on liability, payment obligations for fees incurred prior to the termination date and representations and warranties, shall survive any termination of this Agreement. Any delay in the performance of any duties or obligations of either party will not be considered a breach of this Agreement if such delay is caused by a labor dispute, market shortage of materials, fire, earthquake, flood or any other event beyond the control of such party, provided that such party uses reasonable efforts, under the circumstances, to resume performance as soon as reasonably practicable.

 

  1. Assignment or Transfer : No partnership, joint venture, franchisor-franchisee, or agency relationship is intended or created by this Agreement or your use of the Platform. You may not assign or transfer this Agreement or your obligations hereunder in whole or in part, whether by operation of law or otherwise, without EQT Yard’s prior written consent. In the event of a permitted transfer, this Agreement shall bind the parties, their respective successors and permitted assigns. EQT Yard may without restriction, assign, transfer or delegate this Agreement and any rights and obligations hereunder, at its sole discretion without notice.

 

  1. Postponement and Cancellation : EQT Yard reserves the right to withdraw, postpone or cancel any listing, or any sale that results from a listing, request for transport quotation and the corresponding response/offer and application for financing and the corresponding response/offer/acceptance in its own discretion, with or without notice. EQT Yard’s sole liability to Users as a result of any withdrawal, postponement or cancellation shall be a return of any funds paid by Users (subject to transfer fees) and still in EQT Yard’s possession with respect to such sale. EQT Yard takes no other responsibility and assumes no other liability from its exercise of its rights.

 

  1. Availability of Platform : You acknowledge that EQT Yard cannot guarantee the continuous and secure operation of, or access to, the Platform. EQT Yard’s servers, computers or communications components and systems or certain application functionality are subject to failures, outages and delays. Technical failures may also occur from time to time. Further, we may, from time to time and without giving any reason or prior notice, upgrade, modify, suspend or discontinue the provision of or remove, whether entirely or partly, the Platform or any Services and shall not be liable if any such upgrade, modification, suspension or removal prevents you from accessing the Platform or any part of the Services. EQT Yard shall not be held liable for any claims or alleged losses arising out of or relating to any of the above events.

 

  1. Right to Amend : You hereby acknowledge and agree that EQT Yard may, in its sole discretion, change, modify, add or remove any portion of the Agreement, in whole or in part, from time to time with or without notice to you, by posting such changes on the Platform, which you agree is sufficient notice to you. Once posted, such changes or amendments shall come into full force and effect. Your continued use of the Platform after such changes or amendments are published on the Platform shall constitute your agreement to such changed terms in the Agreement.

 

  1. Intellectual Property : The intellectual property in the Platform are owned, licensed to or controlled by EQT Yard, our licensors, or our service providers. EQT Yard reserves the right to enforce its rights to the fullest extent of the law.
    1. Restricted Use : You acknowledge and agree that no part(s) of the Platform, or any content therein may be reproduced, reverse engineered, disassembled, separated, altered, distributed, republished, displayed, broadcast, transferred, or transmitted in any manner or by any means or be used to create derivative works or stored in system or installed on any servers, system or equipment without our prior written permission or that of the relevant intellectual property owners.
    2. Trademarks: The Trademarks, if any, are registered and unregistered trademarks of us or third parties. Nothing on the Platform and in these Terms shall be construed as granting, by implication or otherwise, any license, permission or right to use any Trademarks displayed on the Services, without our written consent.

 

  1. TERMS RELATING TO BUYERS IN PARTICULAR

 

  1. Inspections : When permissible, Buyers should inspect the Product prior to purchase. Products offered for sale via the Platform may be used and therefore may contain defects. Any purchase made without inspection is done at the Buyer’s own and sole risk. In any event, the Buyer and its agents are responsible for final verification of Products purchased at the time of removal.

 

  1. Placing an order : The Buyer may place an order (“Order”) by either adding products to your cart and checking out or completing the purchase process for a specific product directly from its product page on the Platform.

 

  1. Binding Offer to Purchase : The Buyer acknowledges and agrees that placing an Order on the Platform is the legal equivalent of a firm commitment and an irrevocable offer to purchase. Any order placed in a different form will not be accepted by the Seller. The Buyer shall be fully responsible for ensuring the accuracy of the Order. Unless the transaction is prohibited by law or regulation or as otherwise noted herein, once placed, an Order may not be retracted or withdrawn and parties are obligated to complete the transaction.

 

  • TERMS RELATING TO SELLERS IN PARTICULAR

 

  1. Binding obligation : Once the Buyer has committed to purchasing the Product, the Offer will be automatically accepted by Seller (unless otherwise stated in the Listing) and a legal and binding obligation to purchase and sell between Buyer and Seller is automatically and immediately created (“Binding Obligation”). This Agreement shall apply to the Binding Obligation and the resulting transaction. Parties will be notified of the conclusion or completion of the Binding Obligation by email or other notification that is generated by the Platform.

 

  1. Seller’s Representations and Warranties (General) : The Seller hereby represents and warrants, in respect of all types of Products (including Heavy Equipment), that:

 

  1. the Seller is solvent and has not made, nor is it aware of, any assignment or other proceeding commenced for the benefit of its creditors;
  2. the Listing description of the Product shall be accurate and kept up-to-date,
  3. the marketing or selling or availing for sale of the Product will not contravene or infringe upon any intellectual property or third party right;
  4. the Product has not been modified or tampered with in any manner that would be contrary to applicable legislation or misleading to a potential buyer;
  5. the Product has not been fraudulently obtained, is not stolen or counterfeit; and
  6. the Seller and its signatories are duly authorized to enter into this Agreement.

 

  1. Seller’s Representations and Warranties (Heavy Equipment) : The Seller hereby represents and warrants, particularly in respect of Heavy Equipment, that:

 

  1. the Heavy Equipment is, and on the date of sale (or upon formation of the Binding Obligation) will be, owned by the Seller free and clear of any and all security interests, liens (be it registered or unregistered), tax or duty obligations or other encumbrances or contrary claims whatsoever (“Encumbrances”);
  2. the Heavy Equipment is in good operating condition and free of material defects, except as disclosed to Buyer;
  3. the Listing description of the Heavy Equipment shall be accurate and kept up-to-date. This includes but is not limited to information on whether the Heavy Equipment has been re-built, salvaged, or reconditioned or repaired on a similar scale, except as disclosed to the Buyer;
  4. all odometer and hour meters on the Heavy Equipment reflect actual mileage or usage unless otherwise disclosed to the Buyer;

 

  1. PROHIBITED ACTIVITIES

 

  1. Prohibited Activities : You are solely responsible for compliance with any and all laws, rules, regulations, and legal and tax obligations that may apply to your use of the Platform. In connection with your use of the Platform, you will not and will not assist or enable others to:
    1. breach or circumvent any applicable laws or regulations, agreements with third-parties, third-party rights, or this Agreement, our Terms of Use, Privacy Policy and any other rules and notices the Platform may issue from time to time;
    2. use the Platform and/or the content therein for any commercial or other purposes that are not expressly permitted by this Agreement or in a manner that falsely implies EQT Yard’s endorsement, partnership or otherwise misleads others as to your affiliation with EQT Yard;
    3. copy, store or otherwise access or use any information, including personally identifiable information about any other User, contained on the Platform in any way that is inconsistent with this Agreement or our other policies or that otherwise violates the privacy rights of Users or third parties;
    4. use the Platform in relation to the distribution of unsolicited commercial messages (“spam”);
    5. offer, as a Seller, any Product that you do not yourself own or have permission to make available for use or sale through the Platform;
    6. contact another User for any purpose other than asking a question related to a Product or your own Order, Listing, or the User’s use of the Platform, including, but not limited to, recruiting or otherwise soliciting any User to join third-party services, applications or websites, without our prior written approval;
    7. use the Platform or the contents therein (such as Seller’s contact details) to sell or purchase independently of the Platform, to circumvent any Referral Fees or Transaction Fees or for any other reason;
    8. request, accept or make any payment for Products listed on the Platform outside of the Platform. If you do so, you acknowledge and agree that you: (i) would be in breach of this Agreement; (ii) accept all risks and responsibility for such payment, and (iii) hold EQT Yard harmless from any liability for such payment;
    9. discriminate against or harass anyone on the basis of race, national origin, religion, gender, gender identity, physical or mental disability, medical condition, marital status, age or sexual orientation, or otherwise engage in any violent, harmful, abusive or disruptive behavior;
    10. misuse or abuse any Listings or services as determined by EQT Yard in its sole discretion.
    11. use, display, mirror or frame the Platform or the content therein or any individual element within the Platform, EQT Yard’s name, any EQT Yard trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page in the Platform, without our express written consent;
    12. dilute, tarnish or otherwise harm the EQT Yard brand in any way, including through unauthorized use of the content therein, registering and/or using EQT Yard or derivative terms in domain names, trade names, trademarks or other source identifiers, or registering and/or using domains names, trade names, trademarks or other source identifiers that closely imitate or are confusingly similar to EQT Yard domains, trademarks, taglines, promotional campaigns or content therein;
    13. use any robots, spider, crawler, scraper or other automated means or processes to access, collect data or other content from or otherwise interact with the Platform for any purpose;
    14. avoid, bypass, remove, deactivate, impair, descramble, or otherwise attempt to circumvent any technological measure implemented by EQT Yard or any of EQT Yard’s providers or any other third party to protect the Platform;
    15. attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Platform;
    16. take any action that damages or adversely affects, or could damage or adversely affect the performance or proper functioning of the Platform; or
    17. violate or infringe anyone else’s rights or otherwise cause harm to anyone.

 

  1. EQT Yard’s right to monitor and edit : You acknowledge that EQT Yard has no obligation to monitor the access to or use of the Platform by any User or to review, disable access to, or edit any content on the Platform, but has the right to do so to (i) operate, secure and improve the Platform (including without limitation for fraud prevention, risk assessment, investigation and customer support purposes); (ii) ensure Users’ compliance with this Agreement; (iii) comply with applicable law or the order or requirement of a court, law enforcement or other administrative agency or governmental body; (iv) respond to User’s content that it determines is harmful or objectionable; or (v) as otherwise set forth in this Agreement. Users agree to cooperate with and assist EQT Yard, and to provide EQT Yard with such information and take such actions as may be reasonably requested by EQT Yard with respect to any investigation undertaken by EQT Yard or its representative regarding any potential or actual abuse of the Platform.

 

  1. Criminal Activities : If you feel that any User you have interacted with, whether online or offline, is acting or has acted in a harmful manner, including but not limited to anyone who (i) engages in offensive, violent or sexually inappropriate behavior, (ii) you suspect of acting criminally to you, or (iii) engages in any other disturbing conduct, you should immediately report such person to the appropriate authorities and then to EQT Yard by contacting us with your police station and report number (if available). You agree that we are not obligated to take any action (beyond that that may be required by the law) for any report you make.

 

  1. PAYMENT AND FEES

 

  1. Invoice: Upon acceptance of the Order by the Seller, the Platform may generate a provisional third-party invoice that will be issued to the Buyer on the Seller’s behalf. If GST or VAT or other indirect taxes are applicable, the Seller shall raise a GST (or its equivalent) compliant (if applicable) invoice directed to the Buyer(s) within two (2) business days upon receipt of the acceptance of the Order of EQT Yard. The invoice shall be made available to EQT Yard.

 

  1. Payment Proceeds : The Buyer is responsible for paying the full price , including but not limited to the selling price, applicable taxes, duties, Value Added Tax or Vehicle Registration Taxes, VAT, Transaction Fees and any other required fees for the Order (“Full Amount”) be it against a single invoice or multiple invoices issued.

 

  1. Deposit Period : Unless the Listing sets out a differing payment period whereupon the Buyer shall make payment in accordance with that listed payment period, the Buyer shall remit the Full Amount within five (5) business days (“Deposit Period”) upon receipt of the Invoice. If multiple Invoices are issued, the Buyer shall remit the funds set out in each Invoice within the Deposit Period upon receipt of that Invoice.

 

  1. Buyer’s Transfer Fees : The Buyer shall be responsible for paying for bank transfer fees or wire fees or the fees associated or incurred for transferring escrow deposits towards the Full Amount to EQT Yard.

 

  1. Seller’s Transfer Fees : The Seller shall be responsible for paying for bank transfer fees or wire fees or the fees associated or incurred for transferring escrow deposits from the escrow account to and from the Seller.

 

  1. Buyer Transaction Fee : The Buyer shall pay a Transaction Fee for each piece of Equipment or each piece of goods that is purchased from Seller while using the Platform (“Buyer Transaction Fee”). EQT Yard may change or add fees from time to time, in its sole discretion, with or without notice to you. Other fees that may be payable by you are in the Listing.

 

  1. Seller Transaction Fee : The Seller shall pay a Transaction Fee for each piece of Equipment or each piece of goods that is purchased from Seller while using the Platform (“Seller Transaction Fee”). EQT Yard may change or add fees from time to time, in its sole discretion, with or without notice to you.

 

  1. TAXES

 

  1. The Buyer’s responsibilities regarding taxes : Prices listed on Listings are for Products net of any taxes imposed with respect to the purchase unless stated otherwise. The Buyer is liable for all such taxes or for establishing to EQT Yard’s satisfaction, on behalf of the Seller, valid exemption from such taxes through documentation. The Buyer acknowledge and agree that although EQT Yard will assist in the calculation, reporting and remittance of sales or use taxes for transactions that arise in connection with the Buyer’s use of the Platform, the Buyer ultimately remains liable for any sales or use tax liability. To support sales tax treatment of the transaction, the Buyer is responsible for providing EQT Yard with any necessary documentation (e.g., Bills of Lading, export documents, etc.) no later than ten (10) business days from the date of purchase or formation of the Binding Obligation. After which, the Buyer will need to submit any refund request directly to the state for which the original sales tax was collected and remitted by EQT Yard. You shall indemnify EQT Yard against any tax, cost or expense in the event that you fail to provide EQT Yard with necessary supporting documents for calculating tax in relation to a transaction or purchase. You acknowledge and undertake to maintain awareness of and comply with all applicable laws regarding your access and use of the Platform (including but not limited to participating in transactions on the Platform). EQT Yard disclaims any and all liability in respect of your use of the Marketplace and your purchase of any Product resulting in any taxes (whether direct, indirect, local or regional), fines or penalties being levied on you. It is the Buyer’s responsibility to satisfy themselves of any charges, taxes (of any type, be it direct, indirect, local or regional) or similar obligations that arises in respect of the transactions that entered into on the Platform. The Buyer shall indemnify EQT Yard and its affiliates against any tax, cost or loss arising from the Buyer’s failure to satisfy any laws or regulations in relation to a transaction and agree and acknowledge that EQT Yard shall bear no responsibility or liability regarding the same.

 

  1. Goods and Services Tax (“GST”) : All bids and offers are net of any GST and other indirect taxes imposed with respect to the sale or purchase transaction unless stated otherwise. In the event that GST is applicable to a bid or other consideration payable by the Buyer under this Agreement, the Buyer shall be liable for all such taxes. Accordingly, the price of Products shall be exclusive of GST and shall be increased by the amount of GST which may be chargeable at purchase. The amount payable shall be subject to GST if the Buyer, fails to provide necessary documentation to the Seller. Users shall provide their GST registration number when registering for an account on the Platform. Users shall immediately notify EQT Yard if their GST registration number ceases to be valid. The Buyer shall indemnify EQT Yard (and the officers, directors, agents and employees thereof) against any tax, cost or expense relating to the Buyer’s and/or Seller’s failure to satisfy any GST chargeable in relation to a transaction. The Buyer acknowledges and agrees that it is the Buyer’s responsibility to satisfy itself that any GST (or similar) charges or related obligations have been met in relation to a transaction. For the purposes of these Terms, GST means value added tax as provided for in the Singapore’s Goods and Services Tax Act or similar tax in countries outside of Singapore.

 

  • ESCROW

 

  1. Facilitation of receipt of payment : Receipt of the Full Amount shall be facilitated by EQT Yard. The Seller hereby instructs EQT Yard, as an escrow account holder, to facilitate receipt of the Full Amount. Payment of the Full Amount shall be posted to a secure payment account designated by EQT Yard. Buyers from Singapore must tender payments via cheque, wire transfer (recommended) or credit card (when full payment is SGD 5,000.00 or less. For payment by credit card, a third party service fee may apply). Buyers from outside Singapore must tender all payments via wire transfer. Any foreign currency exchange fees or charges are your responsibility as the Buyer. All amounts that are due and payable must be paid and received in the designated escrow account (as defined below) prior to the releasing of any Product for pick-up or transport (“Product Release”) or issuance of a Product Release .

 

  1. Billing Information and authorization : During purchase, the Buyer will be asked to provide their billing information which may include their name, billing address, credit card information, or routing and account numbers for payments by electronic funds transfer either to EQT Yard or its third-party payment processor(s). The Buyer agrees to pay EQT Yard for any purchases made in connection with the Buyer’s account through the permitted payment methods as set out in this Agreement. In the event that the Buyer is permitted to make payment via credit card or electronic funds transfer, the Buyer hereby authorizes the collection of such amounts by charging the credit card provided or by processing an electronic funds transfer utilizing the routing and account number provided or the processing of other permitted payment methods, either directly by EQT Yard or indirectly, via a third-party online payment processor. If the Buyer is directed to EQT Yard’s third party payment processor(s), the Buyer acknowledges that the Buyer may be subject to the third party payment processor’s terms and conditions and that EQT Yard takes no responsibility and assumes no liability regarding the Buyer’s use of such services.

 

  1. Shipping Address : At checkout, the Buyer will be asked to provide a shipping address. The Buyer agrees that the Seller (and if applicable, the financing lender and/or the transport provided) and EQT Yard may rely on the shipping address provided by the Buyer to calculate the necessary indirect tax and its equivalent for the purposes of billing the Buyer. The Buyer hereby confirms the accuracy of the shipping address and accepts all responsibility for any liability that arises as a result of an inaccurate shipping address.

 

  1. Appointment of Escrow Agent and Establishment of Escrow Account : The Buyer and Seller hereby appoint EQT Yard as their escrow agent under this escrow agreement (“Escrow Agreement”) and EQT Yard hereby accepts such appointment, under the terms and conditions set forth herein. EQT Yard shall establish a deposit bank account as the escrow account (“Escrow Account”) for the purpose of this Escrow Agreement, to be opened with a bank designated by EQT Yard at its sole discretion. The Escrow Account shall be operated by the Escrow Agent in accordance with the terms of this Agreement until such time that this Agreement is terminated in accordance with the terms herein.

 

  1. Right to payment : The Seller hereby grants EQT Yard the right, in its own name, to enforce the Seller’s right to payment. The Seller agrees that no monies shall be payable to the Seller until the following conditions have been met:
    1. such monies (being the Full Amount) are paid by the Buyer to the Escrow Account,
    2. where applicable, a proper invoice, raised by Seller, has been received by EQT Yard,
    3. Product Release has been issued,
    4. the Buyer has collected the Product or the Removal Period for the Buyer has lapsed;
    5. no claims or dispute has been raised in accordance with these Agreement; and
    6. the Seller has provided Written Notice (as defined below) and proof (if required by EQT Yard, be it documentary or photographic) to EQT Yard that the Product has been collected by the Buyer or that the Buyer has failed to collect the Product within the Removal Period.

 

  1. Written notice for removal: The Seller agrees to provide written notice within one (1) business day after the Product has been collected by the Buyer or after expiry of the Removal Period when the Buyer has failed to collect the Product. The Seller also agrees to provide proof if required by EQT Yard (be it documentary or photographic).

 

  1. Disbursement period : Once received by EQT Yard, any monies due to the Seller, net of any commissions and fees (including but not limited to bank transfer fees) due to EQT Yard (“Seller Monies”), shall be disbursed within fifteen (15) business days after EQT Yard receives Written Notice and provided the conditions for payment has been met by the Seller (“Disbursement Period”).

 

  1. Right to Offset : The Seller hereby consents to EQT Yard’s right to offset any other commissions and fees specified in this Agreement or that result from additional services requested by the Seller or fees and commissions owed to EQT Yard from other transactions. EQT Yard may, in its discretion, apply any proceeds from the sale of the Product towards any outstanding amounts otherwise due and owing to EQT Yard be it regarding purchases, deficiencies or services rendered by EQT Yard. EQT Yard shall disburse the Seller Monies subject to the deduction of any applicable transfer fees, in the following order :
  2. Transaction Fees to EQT Yard and any other reasonable expenses as may be incurred by EQT Yard in facilitating the payment;
  3. Any other outstanding commissions and fees owed from other transactions;
  4. After deduction of the above sums, the balance of the Full Amount shall be disbursed to the Seller.

 

  1. Buyer’s failure to perform : The Seller acknowledges that the Buyer may fail to perform, pay adequately or pay on a timely basis and the Seller agrees that EQT Yard shall not have any liability to the Seller for any act or omission of the Buyer.

 

  1. Written Instructions : With respect to instructions regarding the funds held by EQT Yard as an escrow agent, you agree that EQT Yard may rely on any written instrument or e-mail reasonably believed by it to be genuine and to have been signed or sent by the proper party or parties, their officers, representatives or agents.

 

  1. Interest on escrow funds : In the event that the funds are maintained in an interest-bearing Escrow Account, the parties agree that all interest accruing from time to time in the Escrow Account (“Escrow Interest”) shall be accrued to EQT Yard and that only EQT Yard shall, during the term of this Agreement or after its termination or conclusion, maintain any claim on the Escrow Interest (if any).

 

  1. Escrow Disclaimer : The amounts held in custody by EQT Yard pursuant to this Agreement are at the sole risk of the Buyer and Seller and, without limiting the generality of the foregoing, EQT Yard shall have no responsibility or liability for any diminution of the Escrow Amount which may result from any deposits made pursuant to this Agreement, including any losses resulting from currency exchange rates, a default by the bank or any other credit losses (whether or not resulting from such default) or other losses on any deposit required to be liquidated in order to make a payment required hereunder. The Seller acknowledges and agrees that EQT Yard is acting prudently and at its direction when depositing the Escrow Amount at the bank, and EQT Yard is not required to make any further inquiries in respect of the bank.

 

  1. Late Fees and Default : If the Buyer fails to make full payment of the Full Amount before the expiry of the Deposit Period or the differing payment period as listed in the Listing or before a date agreed on with the Seller, the Buyer is in default (“Default”) and may be subject to the following options which EQT Yard may, in its discretion, exercise in combination:
  2. EQT Yard may impose a default fee of 20% of the sum total of the Buyer’s Transaction Fee and the Full Amount along with the entirety of other costs incurred as a result of the Buyer’s default (“Buyer Default Fee”)
  3. EQT Yard may allow the sale of the Product to the next highest offer(if applicable) without further notice to the Buyer and upon demand, the Buyer shall pay EQT Yard, as damages, any difference between the purchase price the Buyer had accepted and the final purchase price paid for the Product (the “Buyer Default Penalty”);
  4. EQT Yard may ban or suspend the Buyer from participating on the Platform, be it as a Seller or Buyer; and
  5. EQT Yard may impose late fees (“Late Fees” as further defined below) calculated at 0.3% of the Full Amount per business day until the occurrence of one of the following events, whichever occurs earlier:
    1. Buyer makes full payment of the Full Amount and for any outstanding Late Fees; or
    2. Expiration of twelve (12) business days (“Late Period”).

 

  1. Failure to Close due to unsatisfied closing conditions : In the event where the conditions to conclude the transaction are unsatisfied (as deemed by EQT Yard), parties may deliver a written notice to EQT Yard and EQT Yard may return the funds in the Escrow Account subject to administrative and transfer fees and other costs related to the facilitation of the payment.

 

  • COMPLETION OF TRANSACTIONS

 

  1. Product Release : Upon receipt of the Full Amount, EQT Yard shall inform the Seller (“Receipt Notification”). Upon receipt of the Receipt Notification,
  2. For Heavy Equipment, the Seller shall commence Product Release by having the Heavy Equipment available for transportation (along with the necessary items including but not limited to operator’s manual and keys, if applicable) or pick up for the Buyer within one (1) business day.
  3. For all other products excluding Heavy Equipment, the Seller shall commence Product Release for the Buyer within the time period listed on the Listing or a reasonable time period upon formation of the Binding Obligation.

 

  1. Unavailability and delay : In the event that the Seller fails to meet Product Release as set out herein, the Seller may be subject to a delay fee (“Unavailable Delay Fee”).The Unavailable Delay Fee includes but is not limited to fees incurred as a result of failing to meet Product Release (such as transportation cancellation or re-scheduling fees, rental cost of equivalent replacement equipment for Buyer). The Unavailable Delay Fee may be assessed by EQT Yard at its sole discretion, without prejudice to any other remedies that EQT Yard or the Buyer have the right to pursue, through one or more of the following factors :

 

  1. not more than 3% of the Full Amount per business day; or
  2. 20% of the sum total of the following :
    1. Product purchase price;
    2. Seller and Buyer Transaction Fee; and
  • Any other costs incurred by the Buyer to mitigate damages caused by the Seller’s failure to meet Product Release approved by EQT Yard

 

  1. Specific Performance : Without limitation to any other remedies, if the Seller fails to commence and complete Product Release in accordance with the terms herein or withdraws the Product upon formation of the Binding Obligation, the Seller hereby acknowledge and agree that (a) the damages to EQT Yard’s business reputation, brand and customers are significant and irreparable, (b) an adequate remedy at law for such breach is inadequate, and (c) EQT Yard may seek enforcement of this Agreement by means of specific performance or injunction, without any requirement to post a bond or other security, and the Seller waive all rights to object to such an application.

 

  1. Delivery Terms : As per the Binding Obligation, Seller shall deliver the Product EXW – Ex Works (Seller’s named premises, Incoterms® 2020) unless otherwise stated on the Product Listing. The Buyer is responsible for dismantling, unassembling, loading and shipping the Product for transportation, unless otherwise noted in the Product Listing.

 

  1. Removal period : The Seller shall provide storage for the Product and allow access to the storage premises so as to support the removal of the Product by the Buyer. The Buyer shall remove the Product from the Seller’s premises within seven (7) business days after issuance of the Product Release (“Removal Period”) unless otherwise stated in the Listing. Failing which the Buyer shall be responsible for payment of Storage Fees, and in some cases payment of cost to transport the Product to an alternate location. The Buyer may also be subject to other claims, damages or liabilities to the Seller and/or EQT Yard; such as storage fees and administrative fees.

 

  1. Storage Fees : Unless otherwise noted in the Listing, Storage Fees are to be reasonably calculated based on the space occupied by the Product on a daily basis.

 

  1. Shortage and Discrepancy : Claims concerning material shortages in quantity or other material discrepancies of the Product from the Listing must be communicated to EQT Yard within one (1) business day after the Product has been picked up, by close of business (18:00 of the time zone of where the Product is located). After such time, Buyer will have no rights to make any claims regarding material shortages in quantity or other material discrepancies of the Product from the Listing.

 

  1. Risk of Loss : The responsibility and risk of loss for the Product shall, unless otherwise stated in the Listing, be and remain at the risk of Seller until the earliest of one of the following : (a) the Buyer (or its representatives or designated carrier) taking custody of the Product; or (b) the Seller receives the proceeds of the sale. Thereafter, the Product shall be and remain at the risk of the Buyer or its representatives or the Buyer’s designated carrier.

 

  1. Abandoned Product : Unless otherwise stated in the Listing, the Buyer’s failure to claim and remove the Product within sixty (60) calendar days following the Product Release is deemed to be evidence of the Buyer’s intention to abandon the Product. EQT Yard on behalf of Seller may take action that is adverse to your interest in the Product, including, but not limited to, any appropriate steps under the law to dispose of the Product. The steps and measures EQT Yard may take include but are not limited to the following :
  2. Moving the Product from its current location and disposing of it as EQT Yard deems fit; or
  3. Scrapping the Product; or
  4. Marketing the Product for sale on the Platform whereby EQT Yard will remit the resale amount to the Buyer less EQT Yard’s expenses, storage, logistics and other costs along with a 20% administrative fee. EQT Yard shall have no obligation to ensure that the Product is sold at the market rate or at any rate.

  5. Freight and Transportation : Unless otherwise stated in the Listing, the Buyer is responsible for all freight, shipping and other costs related to transporting the Product from its location to its final destination. These costs include unassembling, dismantling, special handling, loading, transportation costs and permits required to move the Product. The Buyer may arrange transportation of Product on the Platform with a third party transport provider; however, EQT Yard shall not be liable for any acts or omissions arising from any transportation arrangements. EQT Yard is not a party to any transportation arrangements or agreements. Unless otherwise agreed in writing, you shall not list EQT Yard as sender/shipper/exporter on any transport/shipping/export documents or its equivalent.

 

  1. Export : It is recommended for the Buyer to have all the necessary documentation, certificates and permits issued and completed prior to transporting the Product otherwise the Buyer may be subject to clearing, permit, and/or other payments if the Product is stopped and held at a port of entry to a state, province or country. EQT Yard cannot provide Manufacturing Statements of Origin (MSO’s) on used heavy equipment bought on the Platform nor can EQT Yard be held responsible for lack of manufacturers’ identifying numbers or serial numbers.

 

  1. Power of Attorney: The Buyer hereby appoints EQT Yard, its affiliates and its authorized representatives as the Buyer’s attorney-in-fact with a limited power of attorney to, if required, execute on the Buyer’s behalf, all documents required to load and/or transport/ship/export purchased Product. The Buyer also appoints EQT Yard and its authorized representatives as the Buyer’s limited attorney-in-fact for the purpose of executing a Bill of Sale, if required, to finalize transfer of ownership to the Buyer.

 

  1. Buyer to provide shipping information : The Buyer shall provide all relevant shipping information with respect to the transaction in satisfaction of its performance obligation to remove under the Binding Obligation, by: (a) in case of transport carriers services arranged and paid for by you on the Platform, confirming the relevant information during the checkout process, or (b) in the case of transport carrier services arranged and paid for by you outside of the Platform, uploading the bill of lading and other requested documents by means of the Platform.

 

  1. Liens and Encumbrances : EQT Yard shall not be responsible for identifying and arranging for the release of liens and encumbrances on the Product listed on the Platform. EQT Yard shall not be liable for any failure to clear title to the Product.

 

  1. DISCLAIMER

 

  1. General Disclaimer : Unless otherwise provided in the Listing, to the fullest extent permitted by law the Platform is provided on an “as is” and “as available” basis without warranties of any kind, whether express or implied, including but not limited to implied warranties of fitness for a particular purpose, merchantability and non-infringement. Each unit of Product is sold on an “as is, where is” basis and neither the Seller nor EQT Yard makes any representations, guarantees or warranties, express, implied, statutory or otherwise, or any kind whatsoever including but not limited to implied warranties of fitness for a particular purpose, merchantability and non-infringement. Neither the Seller nor EQT Yard makes any warranty , guarantee and representation that the Product will properly function or operate when delivered to the Buyer nor that it will continue to operate or function or any period of time after delivery. EQT Yard hereby expressly disclaims any responsibility and liability for any acts or omissions of other users of the Platform. The sole remedy for any dissatisfaction with the Platform shall be to discontinue use of the Platform.

 

  1. LIMITATION OF LIABILITY

 

  1. Limitation of Liability (EQT Yard) : To the fullest extent permitted by law, under no circumstances shall EQT Yard be liable for any special, punitive, cover, indirect, incidental or consequential damages, however caused, be it in contract or tort or under any other theory of liability, including but not limited to loss of revenue, loss of profits or anticipated profits, business or sales, any loss of goodwill or reputation, or the costs of substitute goods or services, even if EQT Yard, or an authorized representative of EQT Yard (including but not limited to the officers, directors, agents and employees thereof) has been advised of the possibility of such damages. Under no circumstances shall the total liability of EQT Yard to the Buyer for all damages, losses and causes of action (including but not limited to those arising from contract or tort (including negligence, product liability or otherwise) arising from this Agreement, the purchase or use of the Product or the Buyer’s use of the platform exceed, in the aggregate, the total commission earned by EQT Yard from the Listing(s) related to such claim.

 

  1. Limitation of Liability (Seller) : To the fullest extent permitted by law and subject to the terms herein, the Seller shall not be liable for any special, punitive, cover, indirect, incidental or consequential damages, however caused, be it in contract or tort or under any other theory of liability, including but not limited to loss of revenue, loss of profits or anticipated profits, business or sales, any loss of goodwill or reputation, or the costs of substitute goods or services, even if the Seller, or an authorized representative of the Seller (including but not limited to the officers, directors, agents and employees thereof) has been advised of the possibility of such damages. Even if the Seller is liable, under no circumstances shall the total liability of the Seller to the Buyer for all damages, losses and causes of action (including but not limited to those arising from contract or tort (including negligence, product liability or otherwise) arising from this Agreement, the purchase or use of the Product or the Buyer’s use of the platform exceed, in the aggregate, the Full Amount from the Listing(s) related to such claim.

 

  1. INDEMNITY

 

  1. General Indemnity : The Buyer agree to defend, indemnify and hold harmless EQT Yard and the Seller, their subsidiaries and affiliate and authorized representatives(including but not limited to the officers, directors, agents, assigns, successors and employees) (“Indemnified Parties”) from and against any claim or demand (including but not limited to reasonable legal and experts’ fees and costs) made by any third party due to or arising out of the following :
  2. The Buyer’s breach of this Agreement;
  3. The Buyer’s improper use of the Platform, including but not limited to any death, personal injury or property damage caused by or arising out of the subsequent use of any Product sold or purchased from the Platform; or
  4. The Buyer’s violation of any law, regulation or the rights of a third party.

The Buyer hereby releases, waive and discharge EQT Yard from, and covenant not to sue EQT Yard for any and all liability, claims, demands, actions and causes of actions whatsoever arising out of or in relation to any loss, damage or injury including death, that may be sustained by the Buyer or to any property owned by the Buyer, howsoever caused. The Buyer further and expressly agree that the foregoing release, waiver, discharge, covenant and indemnity agreement is intended to be as broad and inclusive as permitted by law and that if any portion thereof is held invalid, it is agreed that the remainder shall continue in full force and effect.

                                                                                                          

  1. Inspection Indemnity : The Buyer also agrees to defend, indemnify and hold harmless EQT Yard and the Seller from and against any and all kinds of damages, costs, liability (including but not limited to reasonable legal and experts’ fees and costs) for any kind of injuries to persons or property of any type, occurring during the Buyer’s or the Buyer’s agent’s inspection of property, the Buyer’s or the Buyer’s agent’s presence at a Seller’s site or any other facility or resulting from the sale, removal, use or operations of the purchased property.

 

  1. Cooperation : In the event that EQT Yard is notified of any threatened or actual claim or demand, EQT Yard will promptly notify the User in writing of and reasonably cooperate with the Users to facilitate the settlement or defense thereof. The Buyer shall have sole control of the defense or settlement of any claim or demand, provided that EQT Yard, at its option and expense, may participate and appear on an equal footing with the Buyer. The Buyer shall not settle any claim or demand without the written consent of the Indemnified Parties, with such consent not to be unreasonably withheld or delayed.

 

  1. Release : In the event that the Buyer has a dispute with one or more users of the Platform, the Buyer shall release EQT Yard (and our officers, directors, agents, subsidiaries and employees) from demands, claims and damages (including but not limited to incidental and consequential damages) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes.

 

  • LEGAL DISPUTES
  1. Contracting Party : Unless otherwise indicated in a written agreement with EQT Yard, the applicable contracting entity, address for acceptance of notices and currency is as follows below. All notices shall be sent to the attention of the Legal Department at the address for acceptance of notices (________________________) with a copy to [email protected].

 

 

  1. Language : All performance under this Agreement and the resolution of any disputes shall be conducted in the English language. If a translation of this Agreement In the event that this Agreement is executed or translated in any language other than English (“Foreign Language Version”), the English language version of this Agreement shall govern and shall take precedence over the Foreign Language Version.

 

  1. Dispute Resolution : Except as provided for in the clause on Governing Law, any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof shall be settled by negotiation of at least 14 days, followed by mediation and if both are unsuccessful, by arbitration. Arbitration shall be in accordance with the Rules for Arbitration of the Singapore International Arbitration Centre (SIAC). The arbitral tribunal shall consist of a sole arbitrator, to be appointed by the Chairman of the SIAC. The place of arbitration shall be Singapore. Any award by the arbitration tribunal shall be final and binding upon the parties.

 

  1. Governing Law : This Agreement shall be governed by and construed in accordance with Singapore Law and you hereby submit to the exclusive jurisdiction of the Singapore Courts. Any legal action brought by the User arising from or relating to this Agreement shall be litigated exclusively in the jurisdiction of Singapore and the parties shall irrevocably commit to resolving disputes in the said jurisdiction. Any legal action brought by EQT Yard arising from or relating to this Agreement shall be litigated exclusively in the jurisdiction of Singapore or at the sole discretion of EQT Yard, any jurisdiction in which the Buyer maintains a place of business, assets or an agent for the service of process. Where applicable, the parties irrevocably waive the right to demand a trial by jury in any dispute arising from or relating to this Agreement.

 

  1. Limitation Period : You hereby agree that any claim arising out of or related to this Agreement must be commenced within six (6) months from the time the dispute arose. Failing which, such claim shall be permanently barred.

 

  • TERMINATION, SUSPENSION AND OTHER MEASURES
  1. Right to Suspend and Terminate Access : Without limiting any other remedies, EQT Yard shall have the right to suspend or terminate the User’s access to the Platform or this Agreement, at any time, without notice, in EQT Yard’s sole discretion for any reason, including but not limited to, if EQT Yard (a) determines that the you have materially breached your obligations under this Agreement, our other policies and standards; or (b) believes in good faith that such action is reasonably necessary to protect the safety or property of EQT Yard, its Users or third parties; or (c) is unable to verify the User’s information. The only recourse and remedy for the User is to immediately discontinue use of the Platform.

 

  1. Termination, Rescission and Default : Users agree and acknowledge that EQT Yard shall have the right, in its sole discretion, to terminate this Agreement in whole or in part if:
  2. there are any encumbrances on or to any Heavy Equipment;
  3. the net proceeds of the transaction are insufficient to discharge any creditor claims and pay EQT Yard’s fees;
  4. the User’s lien holders are unwilling to release liens and/or allow Equipment to be listed for sale;
  5. the User is in breach of or had breached the Agreement,
  6. the User had provided inaccurate, fraudulent, outdated or incomplete information during the registration or listing process or at any point via the Platform;
  7. the User had acted in a manner that violated laws, regulations or third party rights or would potentially violate laws, regulations or third party rights,
  8. EQT Yard believes in good faith that such action is reasonably necessary to protect the safety or property of other Users, its staff or third parties, or
  9. termination is required for fraud prevention, risk assessment, security or investigation purposes.

In the event of such a termination and without limitation to any other available remedies, the User shall pay EQT Yard (i) the Transaction Fee (regardless if the Product was sold); (ii) any costs incurred by EQT Yard; and 30% of the estimated market price of the Product as assessed by EQT Yard.

 

  • EXPORT REGULATIONS AND LAWS

 

  1. Export Control : Where applicable, all Products are subject to local and foreign export control laws and regulations. EQT Yard does not allow participation from entities nor allow sales or shipments in violation of such laws and regulations (if they are applicable).The User hereby represents that it is not restricted from purchasing or selling Products by such laws and regulations and that the User shall not act in violation of these laws and regulations, directly or indirectly, sell, export, re-export, transfer, divert, or otherwise dispose of any Product to any destination, entity, or person and in any manner as prohibited by these laws and regulations, without obtaining prior authorization from the relevant government authorities as required by and under those laws and regulations.

 

  1. Export Requirements : In certain circumstances, the Buyer’s purchased Product may not be eligible for export to the Buyer’s shipping address, or from the country where the Product is located to any destination, without prior authorization (e.g., export license) from the applicable government. The Buyer hereby acknowledges and accepts that the Seller and EQT Yard have no obligation to identify, advice or assist on any export requirements or control regulations and law. The Buyer accepts and expressly assumes full responsibility for determining licensing requirements and obtaining license authority or permission for the export or import of all Products purchased by the Buyer. Any acts for the purposes of contravening or that is contrary to the applicable law shall be prohibited. The Buyer shall in no event, directly or through any intermediary, sell or supply any Product to customers or into countries if to do so that would, directly or indirectly, violate any applicable laws or regulations.

 

  1. Export Disclaimer : If Buyer acts in a manner (be it knowingly or not) that is contrary to or violates any export laws, regulations and requirements, EQT Yard and its Sellers do not assume any liability and the Buyer cannot claim any indemnity, reimbursement or compensation of any kind arising out of or in connection with such activity.

 

  1. PRIVACY

 

  1. General Purposes : The User hereby consents to EQT Yard collecting and using the information supplied by Users during the registration process and checking out process for the purposes of identifying them as a User on the Platform and processing their orders, sales and bids of items and/or other related goods and services that users contract or request EQT Yard, its affiliates or service providers to perform or supply or that are necessary to complete users’ purchases or sales on the Platform. EQT Yard may also collect and use information supplied by Users over the course of their use of the Platform. By indicating acceptance to the terms of this Agreement, you consent to the processing, international transfer and sharing/disclosure of your information described above and in accordance with EQT Yard’s Privacy Policy.

 

  1. Full Privacy Policy : Additional information regarding EQT Yard’s purposes and handling of personal information is available in our Privacy Policy located at The Buyer hereby confirms that the Buyer has read and agreed to our Privacy Policy. The Buyer’s information will be shared with the Seller (and service provider, if applicable) and vice versa in order to facilitate the completion of the Binding Obligation, pick-up of Buyer’s purchased Product and completion of any financing and/or transport agreement. The Buyer’s information may also be used to tailor marketing emails, offers of certain Products to the Buyer in relation to the Buyer’s purchased Product and other advertisements towards the User.

 

  1. Electronic Communications : Users hereby consent to and permit, to the widest extent permitted by the law, EQT Yard and/or its affiliates to communicate with Users by electronic means about the Platform’s products and services or to gather insights about User’s Platform experience. EQT Yard may also use Users’ email contact to communicate for issues regarding the User’s transactions which includes but is not limited to invoices, Product Release, transportation documents and more.

 

  1. Personal Data : Personal information collected by or on behalf of EQT Yard is transferred, stored, accessed and used in various jurisdictions, including Singapore, and is subject to the laws of those other jurisdictions which may differ from those of where the User resides. Subject to these laws, EQT Yard will use reasonable safeguards as further described in the Privacy Policy for the protection of personal information. The User acknowledges that and agrees to disclosures that EQT Yard may make regarding Users’ Platform behaviour to Product Manufacturers such as the original equipment manufacturer (“OEM”) of any Heavy Equipment Listing that a Buyer places an offer on and the OEM’s dealers within the Buyer’s geographical area. Once disclosed, this information will be governed by the Product Manufacturer’s, OEM’s or OEM dealer’s privacy policy and will be subject to the laws of the jurisdiction in which the Product Manufacturers,OEM or OEM dealer processes the information. Product Manufacturers, OEMs and their dealers or service providers use this information to pursue their legitimate interests in understanding the secondary market for Heavy Equipment and other Products, to communicate with Buyers and bidders about warranties and their products and services, and for other purposes disclosed in their privacy policies. The Buyer may exercise certain rights relating to the handling of personal information. To stop such disclosures, contact [email protected] For further information on exercising any available personal information rights, please review the Privacy Policy or contact our Legal Department at [email protected]