Yachts & Bids — Terms of Service

Operator: Yachts & Bids (the "Company," "Yachts & Bids," "we," "us," or "our")

Platform: the website located at yachtsandbids.com and all related subdomains, applications, and services (the "Platform")

Effective Date: June 2, 2026  ·  Last Updated: June 2, 2026

0. Summary (non-binding)

This plain-language box is for convenience only and does not modify the binding terms below.

• We run an online auction marketplace that connects boat sellers and buyers. We provide software and a venue — we are not a party to any sale.
• We are not a broker, dealer, auctioneer, escrow agent, lender, surveyor, or title agent.
• Listing is free. Sellers keep 100% of the hammer price. Buyers pay a buyer's premium (see the Auction Rules).
• A winning bid is a binding contract between buyer and seller.
• Boats are sold AS-IS, WHERE-IS. We give no warranty of any kind.
• The purchase price is paid through a third-party licensed marine escrow/title partner — never to us. We only hold a refundable bidding deposit and charge the buyer's premium.
• Disputes are resolved by binding arbitration and you waive class actions, subject to the limits described in Section 18.

1. Acceptance of These Terms

1.1 These Terms of Service, together with the documents incorporated by reference in Section 1.3 (collectively, the "Agreement"), form a legally binding contract between you and the Company governing your access to and use of the Platform.

1.2 By creating an account, accessing the Platform, placing a bid, listing a vessel, or otherwise using any part of the Platform, you acknowledge that you have read, understood, and agree to be bound by this Agreement. If you do not agree, do not use the Platform.

1.3 The following documents are incorporated into and form part of this Agreement, and you agree to them by using the Platform:

• the Auction Rules (the binding rules of each auction, including bidding mechanics, the buyer's premium, deposits, the survey/sea-trial window, default, and liquidated damages);
• the Privacy Policy (how we collect, use, and disclose personal information under PIPEDA and BC PIPA);
• the Seller Agreement / Seller Terms (additional terms for users who list vessels); and
• any product-specific or supplemental terms we present to you.

To the extent of a direct conflict, the order of precedence is: (1) the Auction Rules (for auction-specific matters), then (2) these Terms of Service, then (3) the other incorporated documents.

2. Eligibility

2.1 Age and capacity. You must be at least the age of majority in your jurisdiction (19 in British Columbia) and have the legal capacity to enter into a binding contract. By using the Platform you represent and warrant that you meet these requirements.

2.2 Authority. If you use the Platform on behalf of a business or other entity, you represent that you are authorized to bind that entity, and "you" refers to both you and that entity.

2.3 Compliance. You represent that your use of the Platform, and any transaction you enter into through it, complies with all laws applicable to you, and that you are not located in, or a resident or national of, any jurisdiction subject to comprehensive sanctions, and are not on any applicable sanctions or denied-parties list.

2.4 Geographic scope. The Platform is operated from British Columbia, Canada and is primarily intended for vessel transactions in British Columbia and across Canada. We make no representation that the Platform or any listing is appropriate or available for use in other locations.

3. Accounts, Verification, and Security

3.1 Registration. You must create an account to bid or list. You agree to provide accurate, current, and complete information and to keep it updated.

3.2 Identity and payment verification. Bidding requires a verified account. As part of verification you may be required to confirm your identity, provide a valid payment method, and authorize a refundable bidding deposit (currently approximately CAD $1,000) to be held via our payment processor (Stripe). We may use third-party verification and fraud-prevention services. We may decline, suspend, or revoke verification at our discretion.

3.3 Deposit is our only custody of your funds. Except for the refundable bidding deposit and the buyer's premium described in the Auction Rules, we never take custody of any funds related to a vessel sale. The vessel purchase price is handled exclusively by a third-party licensed marine escrow/title partner (Section 5).

3.4 One account; accurate identity. You may maintain only one account unless we approve otherwise in writing. You may not impersonate any person or misrepresent your affiliation, and you may not create accounts to evade a suspension or to facilitate shill bidding (Section 7).

3.5 Security. You are responsible for safeguarding your credentials and for all activity under your account. Notify us immediately at yachtsandbids@agentmail.to of any unauthorized use. We are not liable for losses arising from your failure to secure your account.

4. The Platform Is a Neutral Venue — Plain Statement

4.1 We are not a party to your transaction. Yachts & Bids provides auction software and a venue that connects sellers and buyers. We are not the buyer or the seller of any vessel and are not a party to any contract of sale formed through the Platform.

4.2 What we are not. We are not a broker, dealer, yacht broker, vessel agent, auctioneer-of-record, auction house, escrow agent, title or documentation agent, lender, financier, surveyor, marine inspector, insurer, customs broker, or tax agent. We do not take title to, possess, store, inspect, transport, register, or guarantee any vessel.

4.3 No advice. Nothing on the Platform is legal, tax, financial, marine-survey, navigational, or insurance advice. You are responsible for obtaining your own independent professional advice.

4.4 Sellers' content; buyers' decisions. Listings, descriptions, photos, "Known Flaws" disclosures, condition statements, and pricing are created and controlled by sellers. Decisions to bid, buy, sell, or set a reserve are made solely by users. We do not verify, endorse, or guarantee any listing, user, statement, or vessel, and we do not control whether a user will perform.

4.5 No agency. This Agreement does not create any agency, partnership, joint venture, fiduciary, employment, or franchise relationship between you and the Company.

5. Description of Services

5.1 The marketplace. We host time-limited online auctions for vessels. Sellers create listings; verified buyers place bids; the auction software determines the highest qualifying bid at close.

5.2 Auction format. Auctions generally run for seven (7) days. A seller may run a no-reserve auction (publicly badged "No Reserve") or an auction with a hidden reserve (the reserve amount is not disclosed publicly). A soft-close / anti-snipe mechanism may extend the scheduled end time when a qualifying bid is placed in the final minutes. The detailed mechanics — including bid increments, reserve behavior, soft-close timing, and contract formation — are governed by the Auction Rules.

5.3 Listing is free; seller keeps the hammer price. There is no charge to list a vessel, and the seller retains 100% of the hammer price, subject to the third-party escrow/title partner's own fees and any taxes (Section 8 and the Auction Rules).

5.4 Fees we charge. Our revenue is the buyer's premium, charged to the winning buyer, as set out and disclosed before bidding in the Auction Rules (currently 5% of the hammer price, with a minimum of CAD $250 and a maximum of CAD $10,000). We also hold the refundable bidding deposit described in Section 3.2 and the Auction Rules. All-in pricing, including the buyer's premium, is disclosed before you bid. See Section 8.

5.5 Funds flow through a third-party escrow/title partner. Upon a winning bid, the buyer pays the purchase price directly to an independent, licensed marine escrow / title partner (for example, a marine title-transfer firm operating a regulated trust account). That partner — not the Company — conducts the lien/PPSA search, clears and transfers title, pays off any outstanding loan or security interest, disburses funds to the seller, and handles documentation. The escrow/title partner is an independent third party with its own contract and fees; we are not responsible for its acts, omissions, solvency, timing, or fees, and we do not guarantee its services.

5.6 No guarantee of outcome. We do not guarantee that any listing will receive bids, meet its reserve, sell, close, or that any user will perform its obligations. The Platform is provided on an availability basis and may be modified, suspended, or discontinued in whole or in part at any time.

6. Bidding and Contract Formation

6.1 A bid is a binding offer. Each bid you place is a binding, irrevocable offer to purchase the vessel at the bid amount, on the terms of the listing and the Auction Rules. You may not retract a bid except as expressly permitted by the Auction Rules.

6.2 A winning bid forms a binding contract of sale between buyer and seller. By accepting the Auction Rules via clickwrap before bidding, you agree that:

• in a no-reserve auction, a binding contract of sale forms between the seller and the highest bidder at auction close; and
• in a reserve auction, a binding contract of sale forms when the reserve is met (and, where applicable, at auction close), as detailed in the Auction Rules.

6.3 We are not the counterparty. The contract of sale is between the buyer and the seller. The Company is not a party to it and assumes no obligation to deliver, pay for, or guarantee any vessel or payment.

6.4 Post-win process. After a winning bid, the buyer's deposit is captured and a structured survey / sea-trial window opens, after which the transaction proceeds to closing through the escrow/title partner. A buyer's right to walk away is strictly limited to a material defect not disclosed in the seller's "Known Flaws," and walking away for any other reason, or failing to pay, constitutes default with forfeiture of the deposit as liquidated damages, all as governed by the Auction Rules.

7. User Conduct and Prohibited Activity

7.1 General. You agree to use the Platform lawfully, honestly, and in good faith, and not to interfere with its operation or other users.

7.2 Prohibited activity. You will not, and will not assist or permit any third party to:

(a) Shill bidding / bid manipulation. Bid on your own listing; have a relative, agent, employee, affiliate, or anyone acting on your behalf bid to inflate the price; coordinate with other bidders to manipulate price; place bids you do not intend to honor; or otherwise manipulate any auction.

(b) Off-platform circumvention / fee avoidance. Use the Platform to identify a counterparty and then complete, divert, or attempt to complete the transaction off-platform to avoid the buyer's premium or any fee; solicit a user to transact off-platform; or share contact or payment details for the purpose of circumventing the Platform.

(c) Misrepresentation. Post false, misleading, or incomplete listing information; conceal a known defect; misstate ownership, title, liens, or registration; or misrepresent your identity or eligibility.

(d) Unauthorized listings. List a vessel you do not own or are not authorized to sell, or a vessel subject to an undisclosed lien, seizure, or legal restriction.

(e) Non-payment / non-performance. Fail to pay the buyer's premium, fail to fund the purchase price through the escrow/title partner, or otherwise default on a contract formed through the Platform.

(f) Unlawful or infringing content. Post content that is unlawful, defamatory, fraudulent, infringing, obscene, harassing, or that violates a third party's rights.

(g) Technical abuse. Scrape, crawl, harvest, reverse engineer, decompile, or use bots, automation, or scripts to access or bid (except where we expressly permit); introduce malware; bypass security, rate limits, verification, or access controls; or place undue load on the Platform.

(h) Account abuse. Create multiple or fake accounts, sell or transfer your account, or evade a suspension or ban.

(i) Sanctions / AML evasion. Use the Platform to launder funds, finance illicit activity, or transact in violation of applicable sanctions or anti-money-laundering laws.

7.3 Enforcement. We may investigate suspected violations and may, at our discretion and without liability, remove content, cancel bids or listings, void auctions, withhold or forfeit deposits as provided in the Auction Rules, suspend or terminate accounts, and report conduct to escrow/title partners, payment processors, or authorities. Our enforcement rights are in addition to all other remedies.

8. Fees, Taxes, and Payment

8.1 Buyer's premium. The buyer's premium is the Company's principal fee and is charged to the winning buyer through our payment processor, as set out in the Auction Rules. The full, all-in amount, including the buyer's premium, is disclosed to you before you place a bid.

8.2 Deposit. The refundable bidding deposit (Section 3.2) is authorized and/or held through our payment processor and is captured, refunded, or forfeited only as provided in the Auction Rules.

8.3 Third-party and closing costs. Escrow/title-partner fees, registration fees, survey and sea-trial costs, moorage, transport, insurance, and similar costs are the responsibility of the party identified in the listing or the Auction Rules and are separate from any fee we charge.

8.4 Taxes. You are responsible for determining and paying all taxes arising from your use of the Platform and any transaction, including applicable BC Provincial Sales Tax (PST) on private vessel sales (a buyer cost, generally disclosed in the listing), GST/HST where applicable, and any duties. We do not collect or remit transaction taxes on a vessel sale and provide no tax advice.

8.5 Payment processing. Card and deposit handling is performed by Stripe (or another processor we designate) under its own terms. You authorize us and our processor to charge your payment method for amounts you owe (including the deposit and buyer's premium). Chargebacks made in bad faith may result in account termination and collection.

9. Listing Content and Intellectual Property

9.1 Our IP. The Platform, including its software, design, text, graphics, logos, and the "Yachts & Bids" name and marks, is owned by the Company or its licensors and is protected by intellectual-property laws. We grant you a limited, revocable, non-exclusive, non-transferable license to access and use the Platform for its intended purpose. No other rights are granted.

9.2 Your content. "User Content" means anything you submit, including listings, photos, videos, descriptions, "Known Flaws" disclosures, comments, and messages. As between you and us, you retain ownership of your User Content.

9.3 License you grant us. You grant the Company a worldwide, non-exclusive, royalty-free, sublicensable, transferable license to host, store, reproduce, modify (for formatting/display), publish, publicly display, distribute, and promote your User Content in connection with operating, marketing, and improving the Platform — including in advertising and on third-party channels — for the duration of your posting and a reasonable archival period thereafter.

9.4 Your representations. You represent and warrant that you own or have the rights to your User Content and the right to grant the above license, and that your User Content does not infringe any third party's rights or violate any law.

9.5 Removal. We may remove or disable any User Content at our discretion, including content we believe violates this Agreement or applicable law.

9.6 Copyright complaints. If you believe content infringes your rights, contact yachtsandbids@agentmail.to with the details required under applicable law, and we will follow the notice-and-notice procedure under the Copyright Act (Canada).

9.7 Feedback. If you give us suggestions or feedback, we may use them without restriction or obligation to you.

10. Third-Party Services and Links

The Platform integrates with or links to third parties (e.g., Stripe, escrow/title partners, identity-verification vendors, registries, and surveyors). Those services are governed by their own terms, and we are not responsible for them. Your dealings with any third party are solely between you and that third party.

11. Disclaimers of Warranties

11.1 Vessels sold AS-IS, WHERE-IS. Every vessel offered on the Platform is sold AS-IS, WHERE-IS, with all faults, by the seller. The Company makes no representation or warranty of any kind about any vessel, including its condition, seaworthiness, history, value, title, freedom from liens, registration status, fitness for any purpose, or the accuracy of any listing or "Known Flaws" disclosure.

11.2 Platform provided "AS IS." The Platform and all services are provided "AS IS" and "AS AVAILABLE." To the maximum extent permitted by law, the Company disclaims all warranties, express, implied, statutory, or otherwise, including implied warranties or conditions of merchantability, fitness for a particular purpose, title, durability, and non-infringement, and any warranty arising from course of dealing or usage of trade.

11.3 No warranty of uptime, accuracy, or results. We do not warrant that the Platform will be uninterrupted, secure, error-free, or free of harmful components, that defects will be corrected, or that any listing, user, statement, or transaction is accurate, complete, lawful, or will result in a completed sale.

11.4 Statutory rights. Some jurisdictions do not allow the exclusion of certain warranties or conditions; in that case, the above exclusions apply to the fullest extent permitted, and any non-excludable warranty is limited in duration and remedy to the minimum permitted by law.

12. Limitation of Liability

12.1 No indirect damages. To the maximum extent permitted by law, the Company and its officers, directors, employees, and agents (the "Company Parties") will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, data, goodwill, vessels, or business, arising out of or related to the Platform or this Agreement, whether in contract, tort (including negligence), or otherwise, even if advised of the possibility of such damages.

12.2 Liability cap. To the maximum extent permitted by law, the Company Parties' total aggregate liability arising out of or related to the Platform or this Agreement will not exceed the greater of (a) the total fees actually paid by you to the Company (i.e., buyer's premium) in the six (6) months immediately preceding the event giving rise to the claim, and (b) CAD $250.

12.3 We are not responsible for transactions between users. Because we are a neutral venue and not a party to any sale, the Company Parties are not liable for the acts, omissions, defaults, solvency, or conduct of any user, escrow/title partner, surveyor, or other third party, including non-payment, non-delivery, undisclosed defects or liens, title problems, or losses arising from the vessel itself.

12.4 Allocation of risk. You acknowledge that the fees, the neutral-venue model, and these limitations reflect a reasonable allocation of risk and are a basis of the bargain, and that we would not provide the Platform without them.

12.5 Non-excludable liability. Nothing in this Agreement excludes or limits liability that cannot be excluded or limited under applicable law.

13. Indemnification

You agree to defend, indemnify, and hold harmless the Company Parties from and against any claims, demands, actions, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or related to: (a) your use of the Platform; (b) your User Content; (c) any vessel you list, buy, sell, or bid on, and any transaction or dispute with another user or with an escrow/title partner; (d) your breach of this Agreement or violation of any law or third-party right; (e) your shill bidding, off-platform circumvention, misrepresentation, or default; and (f) taxes you owe. We may assume the exclusive defense of any matter subject to indemnification, in which case you will cooperate with us; you will not settle any matter affecting the Company Parties without our prior written consent.

14. Suspension and Termination

14.1 By you. You may stop using the Platform and close your account at any time, subject to your obligations for pending or completed auctions (including the buyer's premium, deposit, and any binding contract of sale).

14.2 By us. We may suspend or terminate your access, with or without notice, for any reason, including suspected violation of this Agreement, fraud risk, legal requirement, or to protect the Platform or other users.

14.3 Effect of termination. Termination does not relieve you of obligations incurred before termination, including binding contracts of sale, fees owed, deposit consequences (including forfeiture), and indemnities. Sections that by their nature should survive — including Sections 4, 5.5, 6.3, 8, 9.3, 11–13, and 16–20 — survive termination.

15. Changes to the Platform and to These Terms

15.1 We may modify the Platform and this Agreement from time to time. If we make material changes, we will update the "Last Updated" date and provide notice by reasonable means (e.g., email or an in-Platform notice).

15.2 Changes are effective when posted, or on a later stated date. Your continued use after changes take effect constitutes acceptance. Changes do not retroactively alter the binding terms of an auction already in progress or a contract of sale already formed, which remain governed by the Auction Rules in effect when you bid.

16. Governing Law

16.1 This Agreement and any dispute arising out of or related to it or the Platform are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflict-of-laws rules.

16.2 Subject to Section 18 (arbitration), the courts located in British Columbia have exclusive jurisdiction, and you consent to that venue. The United Nations Convention on Contracts for the International Sale of Goods does not apply.

17. Notices

17.1 We may give you notice by email to the address on your account, by posting in the Platform, or by other reasonable means. You are responsible for keeping your contact details current.

17.2 You must send legal notices to us at yachtsandbids@agentmail.to (Yachts & Bids, British Columbia, Canada).

18. Dispute Resolution — Binding Arbitration and Class-Action Waiver

18.1 Informal resolution first. Before commencing any formal proceeding, you agree to contact us at yachtsandbids@agentmail.to and attempt in good faith to resolve the dispute for at least 30 days.

18.2 Binding arbitration. Except as limited by Section 18.5 and by applicable law, any dispute arising out of or relating to this Agreement or the Platform that is not resolved informally will be finally resolved by binding arbitration administered by the Vancouver International Arbitration Centre (VanIAC) under its applicable rules, before a single arbitrator, seated in Vancouver, British Columbia, conducted in English. Judgment on the award may be entered in any court of competent jurisdiction.

18.3 Class-action waiver. To the maximum extent permitted by law, disputes will be resolved only on an individual basis, and you and the Company waive any right to participate in a class, collective, or representative proceeding.

18.4 Arbitration carve-outs. Either party may (a) bring a qualifying claim in small claims court, and (b) seek injunctive or equitable relief in court to protect intellectual property or stop unauthorized Platform use, without first arbitrating.

18.5 Consumer exception. Nothing in this Section 18 limits any non-waivable right you may have as a consumer under applicable law, including any right to bring or participate in a proceeding that cannot lawfully be waived.

18.6 Severability of this section. If the class-action waiver is found unenforceable as to a particular claim, that claim will be severed and may proceed in court, while the remainder of this Section 18 continues to apply.

19. General

19.1 Entire agreement. This Agreement (including the incorporated documents in Section 1.3) is the entire agreement between you and us regarding the Platform and supersedes prior understandings.

19.2 Severability. If any provision is found unenforceable, it will be modified to the minimum extent necessary or severed, and the remaining provisions remain in effect.

19.3 No waiver. Our failure to enforce a provision is not a waiver of it.

19.4 Assignment. You may not assign this Agreement without our consent. We may assign it (e.g., in a reorganization, financing, or sale of assets).

19.5 Force majeure. We are not liable for delay or failure caused by events beyond our reasonable control.

19.6 Relationship. The parties are independent contractors. No third-party beneficiary rights are created except for the Company Parties under Sections 12 and 13.

19.7 Language. The parties have requested and agreed that this Agreement and all related documents be drafted in English.

19.8 Headings. Headings are for convenience only and do not affect interpretation.

20. Contact

Yachts & Bids British Columbia, Canada Email: yachtsandbids@agentmail.to