1Introduction & Acceptance of Terms
Welcome to BidVex. These Terms & Conditions ("Terms") form a legally binding agreement between you ("User," "you," or "your") and BidVex Inc. ("BidVex," "we," "us," or "our"). These Terms govern your access to and use of our online auction platform, website, and related services (collectively, "the Platform").
By registering for an account, browsing the Platform, or participating in an auction, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as our Privacy Policy. If you do not agree to these Terms, you must not access or use the Platform.
BidVex facilitates online auctions for various items, including but not limited to vehicles, consumer goods, and commercial services.
2Platform Role & Disclaimers
2.1 Independent Marketplace
BidVex is a digital marketplace and is not a seller, dealer, broker, owner, consignee, or agent of any listed item. We provide the technology platform and administrative services for online auctions.
2.2 Transaction Parties
All sales are concluded directly between the buyer and the seller. BidVex is not a party to the actual transaction between buyers and sellers. This means BidVex does not guarantee the accuracy of any listing, the condition of any item, or the performance of any party to a transaction.
Disclaimer: BidVex provides tools for auctions but assumes no responsibility for the accuracy of item descriptions, the outcome of bidding, or post-auction delivery obligations. All transactions carry inherent risk, and users participate at their own discretion.
3User Accounts
To participate in auctions, you are required to register and maintain a valid account.
Account Requirements: You must be at least 18 years of age and a resident of Canada with a valid email address to create a BidVex account. You are responsible for maintaining the security and confidentiality of your account credentials.
4Seller Responsibilities
Sellers on BidVex bear full responsibility for their listings and the items they sell. By creating a listing, sellers represent and warrant that all information provided is accurate.
4.1 Marketplace Platform Sellers
Platform Sellers must provide accurate descriptions, respond to buyer inquiries, and deliver items as described.
4.2 Vehicle Auction Licensed Sellers
Vehicle listings are restricted to sellers holding a verified provincial dealer licence (e.g. OMVIC in Ontario, AMVIC in Alberta, VSA in British Columbia, SAAQ road-vehicle dealer licence in Quebec, and analogues in other provinces).
5Fees, Terms and Payment Structure
Upon registration, users are assigned to a specific tier. This tier determines the buyer's premium and seller commission applicable to transactions.
| Tier | Buyer's Premium | Seller Commission |
|---|---|---|
| Standard | 5.0% | 4.0% |
| Premium ($360 CAD/yr + taxes) | 3.5% | 2.5% |
| VIP Elite ($600 CAD/yr + taxes) | 3.0% | 2.0% |
5AMandatory Payment Method (Sticky Card Policy)
To create a listing on BidVex, every Seller must have a valid payment method registered and attached to their Stripe profile.
- Sellers may not remove their payment method while they have active listings. Attempting to do so will be blocked by the system with an error message.
- BidVex retains a Stripe token only — raw card data is never stored on BidVex servers.
- If a Seller's card on file becomes expired or invalid while a listing is active, the listing will be automatically paused until a valid payment method is added.
- This policy exists to ensure BidVex can collect applicable platform fees and cancellation penalties if required.
5BEscrow & Buyer Protection — Pickup Code System
For all non-vehicle auction items, BidVex operates an escrow system to protect both buyers and sellers.
How it works:
- When a buyer wins an auction, their payment is captured immediately by Stripe and held in escrow on the BidVex platform.
- Funds are NOT transferred to the seller at this stage.
- The buyer receives a unique 6-character alphanumeric pickup code by email.
- At the time of item pickup, the buyer presents this code to the seller.
- The seller enters the code in their BidVex seller dashboard to confirm the handoff.
- Upon successful code entry, funds are released from escrow and transferred to the seller.
Auto-Release Rule: If the buyer fails to collect the item and the code is not entered within 48 hours of auction close, funds are automatically released to the seller. No refund is issued to the buyer after auto-release.
Security: The pickup code is cryptographically generated and single-use. Five failed entry attempts triggers an automatic admin review.
Note: Vehicle transactions are handled under a separate bilateral agreement between buyer and seller. BidVex does not hold or transfer vehicle purchase funds.
6ACancellation Penalty
A cancellation penalty of $50.00 CAD is applied when a Seller reports inability to deliver an item after auction close.
- The penalty is charged automatically to the Seller's payment method on file via Stripe.
- If the charge fails, the Seller's account is flagged for suspension pending review.
- BidVex retains the Stripe payment method token even if the Seller removes the card from the UI, for the sole purpose of collecting outstanding penalties.
- This penalty exists to protect buyers and maintain platform integrity.
6Bidding Rules
By placing a bid, you enter into a binding agreement to purchase the item at the bid price if your bid is the winning bid at auction close.
All bids are final and binding. Retraction is not permitted except in limited circumstances (e.g., listing error confirmed by BidVex).
7Payment Processing
BidVex uses Stripe as its exclusive payment processor. All payments are processed in Canadian Dollars (CAD). GST/HST and QST are applied per applicable law.
8Dispute Resolution
BidVex offers a dispute resolution mechanism. Either the buyer or seller may open a dispute within 48 hours of transaction completion. During a dispute, escrow funds remain held until resolution.
9Prohibited Conduct
- Shill bidding (bidding on your own items)
- Listing counterfeit, stolen, or illegal items
- Providing false item descriptions
- Harassment of users via messages or Community Q&A
- Circumventing escrow or payment systems
- Creating multiple accounts to manipulate auctions
10Limitation of Liability
BidVex's total liability to any user shall not exceed the total fees paid by that user to BidVex in the twelve (12) months preceding the claim. BidVex is not liable for indirect, incidental, consequential, or punitive damages.
11Modifications to Terms
BidVex reserves the right to modify these Terms at any time. Material changes will be communicated by email or platform notification at least 30 days before taking effect.
12Governing Law & Dispute Resolution
These Terms & Conditions are governed by the laws of the Province of Quebec and the federal laws of Canada applicable therein.
Any dispute arising from the use of BidVex that cannot be resolved informally shall be submitted to the exclusive jurisdiction of the courts of the District of Saint-François (Sherbrooke), Quebec, Canada.
For users in other Canadian provinces, BidVex complies with applicable provincial consumer protection legislation. U.S.-based users acknowledge that BidVex is a Canadian platform subject to Canadian law.
13Contact Information
BidVex Legal Department
Email: support@bidvex.com
14Vehicle Auctions — Platform Role & Provincial Dealer Compliance
BidVex is a technology platform and auction facilitator only. BidVex is not a vendor, dealer, or party to vehicle sale contracts. Only sellers holding a verified provincial dealer licence (OMVIC, AMVIC, VSA, SAAQ, FCAA, MVSDA or the analogous regulator in their province) may list road vehicles.
By listing vehicles on BidVex, dealers represent that they hold a valid provincial dealer licence and comply with all applicable federal and provincial consumer-protection and motor-vehicle-dealer laws.
15Broker & Dealer Accounts
15.1 Broker Registration and Eligibility
To register as a Broker or Dealer on BidVex, you must hold a valid and current broker or dealer license issued by the applicable provincial or federal authority in Canada or the United States. BidVex reserves the right to verify submitted credentials and to deny, suspend, or revoke broker status at any time if documents are found to be invalid, expired, or fraudulent.
15.2 Broker Responsibilities
Brokers are responsible for the accuracy of all listings published through their account. Brokers must ensure all items listed comply with applicable Canadian and provincial law, including but not limited to the Competition Act (R.S.C., 1985, c. C-34) and the Consumer Protection Act (L.R.Q., c. P-40.1). BidVex is a marketplace platform and does not take title to any goods. Brokers bear full legal responsibility for the items they list and the transactions they facilitate.
15.3 Broker Subscription Fees
Brokers are subject to an annual platform subscription fee as published on the BidVex pricing page at the time of registration. BidVex may offer promotional pricing, launch discounts, or individualized pricing at its sole discretion. Subscription fees are non-refundable once the billing period has commenced. Access to broker features will remain active until the end of the current billing period following cancellation.
16Individual User Accounts (Buyers and Sellers)
16.1 Individual Registration
Individual users may register as buyers and/or sellers on BidVex by providing accurate personal information and agreeing to these Terms. Sellers must comply with all listing policies and applicable laws. Buyers acknowledge that all winning bids constitute a binding purchase commitment.
16.2 Seller Commissions
Individual sellers may be subject to a commission on completed sales as published in the BidVex fee schedule. BidVex reserves the right to modify commission rates at any time with thirty (30) days written notice to active sellers.
16.3 Buyer's Premium
Certain auctions on BidVex may include a buyer's premium, which is an additional percentage charged to the winning bidder on top of the hammer price. The applicable buyer's premium, if any, will be clearly disclosed on each auction listing prior to bidding. BidVex reserves the right to adjust buyer's premium rates at any time.
17Fees, Pricing, and Right to Modify
BidVex Inc. reserves the right to change, adjust, or discontinue any fee, subscription price, transaction commission, buyer's premium, platform charge, or promotional discount at any time without prior notice for new transactions or registrations.
For existing active subscriptions or ongoing agreements, BidVex will provide no less than thirty (30) days advance written notice of material price changes, delivered to the email address on file. If you do not accept the revised fees, you may cancel your subscription or account prior to the effective date. Continued use of BidVex after the effective date constitutes your acceptance of the new fee structure.
This provision is made in accordance with the Quebec Consumer Protection Act (L.R.Q., c. P-40.1) and applicable Canadian contract law.
18No-Refund Policy
All subscription fees paid to BidVex are non-refundable. Upon cancellation, your subscription will remain active until the end of the current paid billing period. No partial refunds are issued for unused time. This policy applies to Broker Annual Plans and any other subscription products offered by BidVex Inc.
Exception: BidVex may issue refunds at its sole discretion in cases of documented technical failure attributable to BidVex that prevents platform access for a continuous period exceeding seventy-two (72) hours.
19Buyer-Broker Security Deposit
When a buyer submits a broker partnership request, BidVex authorizes (holds but does not capture) a security deposit of $500.00 CAD on the buyer's payment method via Stripe. This deposit:
- Is NEVER captured if the broker rejects the partnership request. The authorization is cancelled within 5-7 business days.
- Remains held (not captured) throughout the active partnership.
- Is FORFEITED (captured by BidVex) if the buyer: abandons an approved partnership after a bid has been placed on their behalf by the broker; fails to pay the broker's service fees within seventy-two (72) hours of invoice generation; or is found to have submitted fraudulent information.
- Is RELEASED (authorization cancelled, never charged) within 5-7 business days after the broker confirms vehicle release via the platform.
- May be held during a dispute period of up to seven (7) days following vehicle release. After 7 days, the release is final.
This deposit constitutes a platform security mechanism only and does not represent payment toward the vehicle purchase price. It is compliant with Quebec Consumer Protection Act requirements for advance payment disclosure (L.R.Q., c. P-40.1, s. 13).
20Vehicle Hammer Price — Direct Settlement
BidVex is a technology marketplace platform. It does not act as a dealer, broker, financial intermediary, or trust account administrator for any vehicle transaction.
The vehicle hammer price (winning bid amount) is settled DIRECTLY between the buyer and the licensed broker via methods approved by the broker — bank wire, certified cheque, or broker trust account. BidVex does not process, hold, route, or receive any portion of the vehicle hammer price.
BidVex's Stripe infrastructure processes only platform service fees and broker service fees as described in Section 17 of these Terms, plus applicable GST and QST on those service fees.
All vehicle title transfers are the sole responsibility of the licensed broker, conducted through the appropriate provincial registry (SAAQ in Quebec, ServiceOntario in Ontario, AMVIC in Alberta, ICBC / VSA in British Columbia, etc.).
21Broker Title Transfer Obligation
Licensed brokers are required to log the provincial title transfer reference number in their BidVex broker dashboard within fourteen (14) days of confirming vehicle release. This obligation exists to protect buyers and to maintain BidVex's compliance with SAAQ, ServiceOntario, AMVIC, and VSA regulatory audit requirements.
Failure to log a title transfer within 14 days may result in account suspension pending review. Once logged, the reference number appears permanently on the buyer's transaction history as proof that the title transfer was filed with the appropriate provincial registry.
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