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Description
Industrial Exchange Corporation (IEC) will enter into written buy/sell agreements with equipment sellers or will enter written agreements to broker equipment for commission. In some cases where a commission agreement is signed, IEC will agree to send inquiries directly from potential buyers to the seller. In other cases, IEC will protect the buyer until the seller agrees to a sales agreement with IEC in order that the equipment be resold to the buyer. In any case a registered Seller agrees to protect Industrial Exchange Corporation’s position and to only sell the equipment directly to buyers who are brought to the seller by IEC through a written agreement as described. This agreement is between Industrial Exchange Corporation (IEC) and sellers (seller) registering to sell equipment listed on any of IEC’s Websites. This is a non-exclusive agreement and sellers may offer and sell equipment independently even if the equipment is listed on an IEC’s website.. However, the Seller agrees that this agreement governs sales that have originated with an inquiry received through a website of Industrial Exchange Corporation. IEC operates and maintains a number of industry specific and general industrial websites as forums to link buyers with sellers of used and surplus industrial equipment. Registered users of IEC Websites may be approved as registered sellers. Sellers on these websites are approved or disapproved at the sole discretion of Industrial Exchange Corporation using information that may include: declaration or evidence that the seller has the right to sell or advertise certain equipment and conducts business in a manner that is consistent with the rights or best interest of IEC and/or its registered users. IEC reserves right to refuse to list equipment as it chooses and may include or not include equipment listed by any seller on its website as it sees appropriate. Once the seller has agreed to the IEC user agreement and this sellers agreement and has been approved he may list equipment on the website that is appropriate. The registered seller agrees to pay IEC a commission based on the sales price on sales of equipment that originate with an inquiry from an IEC website or reach a written alternative agreement with IEC. This commission will be calculated using the sales price the seller receives as follows