K-BID will be updating the Website Terms and Conditions (T&C) as well as the standard Auction Terms that are appended to every auction, effective 1/1/18. This will affect all auctions published on or after January 1.
HOW THIS AFFECTS YOU:You will need to redo your Auction Terms as a part of publishing your first auction after January 1. Most existing affiliate Auction Terms reference the 10%/13% BP that is being eliminated January 1. To ensure that site terms and affiliate auction terms are consistent, we will be clearing all “saved as default” Terms for auctions currently in draft and newly created auctions. Active and Closed auctions will not be affected.
You will still have access to your Terms from your old auctions for reference, however MOST of that information will be obsolete as it will be rolled into the K-BID terms that are appended to every auction.
Please DO NOT simply copy and paste the terms from a past auction or you will be pulling in outdated and incorrect information.
The only information that you MUST have indicated in your new auction terms are:
The affiliate entity contracting and managing the auction.
Dealer/FFL License information.
Payment Types Accepted.
Other terms you MAY want to consider to include:
Late removal options/penalties.
Special removal requirements.
Tax Exemption process.
Other terms you currently address.
Your new terms will look like the example below:
Your custom terms will be entered in the section highlighted below. The BP amount above and the terms addendum below will automatically be added to your auction terms for you.