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Terms & Conditions:
Terms and Conditions The following describes the terms on which SRECTrade offers you access to our services. Introduction Welcome to SRECTrade. By using our services, you are agreeing to the following terms (the "Agreement" or "User Agreement"). Before you may become a member of SRECTrade, you must read and accept all of the terms and conditions in, and linked to, this User Agreement and the Privacy Policy. We strongly recommend that, as you read this User Agreement, you also access and read the linked information. This Agreement is effective on July 1, 2008, for current users, and upon acceptance for new users. We reserve the right to modify or change these conditions at any time. Please review this page frequently. Registration Members agree to provide true and accurate information about him/herself in the registration form. It is a violation of law to make bids in a false name or with an invalid credit card, even if our software initially accepts such a bid. Please be aware that even if you do not give us your real name, your web browser transmits a unique Internet address to us, which can be used by law enforcement officials to identify you. Please do not test our auctions with false bids. This puts you at substantial personal legal risk. Fraudulent bidders will be prosecuted to the fullest extent of the law. Currently, both the FBI and the US Secret Service are responsible for investigating all Internet fraud cases. Using SRECTrade While using the SRECTrade, you will not: · violate any laws, third party rights, or our policies; · use SRECTrade if you are not able to form legally binding contracts, are under the age of 18, or are temporarily or indefinitely suspended from our SRECTrade; · fail to deliver payment for SRECs purchased by you; · fail to deliver SRECs purchased from you; · circumvent or manipulate our fee structure, the billing process, or fees owed to SRECTrade; · post false, inaccurate, misleading, defamatory, or libelous content (including personal information); · transfer your SRECTrade account (including feedback) and User ID to another party without our consent; · distribute or post spam, chain letters, or pyramid schemes; · distribute viruses or any other technologies that may harm SRECTrade, or the interests or property of SRECTrade users; · copy, modify, or distribute content from the SRECTrade and SRECTrade's copyrights and trademarks; or · harvest or otherwise collect information about users, including email addresses, without their consent. Abusing SRECTrade SRECTrade and the Community work together to keep the SRECTrade working properly and the Community safe. Please report problems, offensive content, and policy violations to us. SRECTrade reserves the right to refuse service to anyone. We will exercise this right with "problem" buyers who win auctions often and are not buying, and "problem" sellers who list an SREC and do not sell or properly deliver their SRECs through escrow. Without limiting other remedies, we may limit, suspend, or terminate our service and user accounts, prohibit access to our website, delay or remove hosted content, and take technical and legal steps to keep users off the SRECTrade if we think that they are creating problems, possible legal liabilities, engaging in fraudulent activity or acting inconsistently with the letter or spirit of our policies. We also reserve the right to cancel unconfirmed accounts or accounts that have been inactive for a long time. Bidding Bidding on a quantity of SRECs is an revocable offer to buy the SRECs at the price in the bid, provided the bidder's offer meets the clearing price, which shall be no greater than the price in the bid. A bid may be canceled prior to the close of the auction without penalty. Once the auction closes, a bid becomes irrevocable. Please read the listing carefully to be certain the SRECs are of the vintage you desire. If your bid is equal to or greater than the clearing price, we will inform you within one day of auction close that you were a winner in the auction. Winning bidders are required to deliver the purchase price of the SRECs they have purchased (i.e., the clearing price times the number of SRECs bid upon, plus SRECTrade commission). SREC ownership will be transferred to your account within 10 business days of the close of the auction. If your bid is less than the clearing price, we will inform you within one day of the auction close that you were not a winner in the auction. Bidders that do not win are free of obligation with respect to this auction. Listing Placing a single or block of SRECs for a particular auction is a revocable offer to sell these SRECs at the clearing price of the auction. As such, please consider carefully whether you want to place your SRECs up for auction. Your opening offer must equal the minimum bid that you would accept. Submitting a valid offer requires that you immediately transfer these SRECs in escrow under our account name. If the SRECs are not put in escrow before the auction closes, the offer will not be considered in the auction. Once the auction closes, the offer becomes irrevocable. If your offer ends up being equal to or below the clearing price of the auction, we will inform you that you have won the auction. At this point, you are legally contracted to sell the specified quantity of SRECs at this clearing price. Within 5 business days, you are required to force these SRECs out of escrow and into our account. Failure to do so viiolates this contract and may result in legal prosecution. Alternatively, if you have opted to give us your NJ Clean Energy username and password, all transfers will be handled automatically. If your offer ends up being above the clearing price of the auction, we will inform you that you did not win the auction. You will not be able to sell your SRECs for this auction and must remove your SRECs from escrow. Alternatively, if you have opted to give us your NJ Clean Energy username and password, your SRECs will be automatically transfer back to your account automatically. Fees and Services Joining SRECTrade and offering SRECs for sale is free. When you place a bid to purchase an SREC or block of SRECs you will have an opportunity to review and accept the fees that you will be charged based on our fees schedule, which we may change from time to time. Changes to that policy are effective after we provide you with at least fourteen days' notice by posting the changes on the SRECTrade. We may choose to temporarily change the fees for our services for promotional events or new services, and such changes are effective when we post the temporary promotional event or new service on the SRECTrade. Unless otherwise stated, all fees are quoted in U.S. Dollars. You are responsible for paying all fees and applicable taxes associated with the SRECTrade in a timely manner with a valid payment method. If your payment method fails or your account is past due, we may collect fees owed using other collection mechanisms. This includes charging other payment methods on file with us, retaining collection agencies and legal counsel, and for accounts over 180 days past due, deducting the amount owed from your PayPal account balance. Content License When you give us content, you grant us a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, sublicensable (through multiple tiers) right to exercise the copyright, publicity, and database rights (but no other rights) you have in the content, in any media known now or in the future. Liability You will not hold SRECTrade responsible for other users' actions or inactions, including things they post. We have no control over and do not guarantee the truth or accuracy of listed SRECs, the ability of sellers to sell SRECs, the ability of buyers to pay for SRECs, or that a buyer or seller will actually complete a transaction. Further, we cannot guarantee continuous or secure access to our services, and operation of the SRECTrade may be interfered with by numerous factors outside of our control. Accordingly, to the extent legally permitted, we exclude all implied warranties, terms and conditions. We are not responsible for bids not being processed or not being accepted due to technical difficulties. We are not liable for any loss of money, goodwill, or reputation, or any special, indirect, or consequential damages arising out of your use of SRECTrade. Some jurisdictions do not allow the disclaimer of warranties or exclusion of damages, so such disclaimers and exclusions may not apply to you. Regardless of the previous paragraph, if we are found to be liable, our liability to you or to any third party is limited to the greater of (a) the total fees you paid to us in the 12 months prior to the action giving rise to the liability, and (b) $100. Release If you have a dispute with one or more users, you release us (and our officers, directors, agents, subsidiaries, joint ventures and employees) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. If you are a California resident, you waive California Civil Code §1542, which says: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor." Access and Interference The SRECTrade contains robot exclusion headers. Much of the information on the SRECTrade is updated on a real-time basis and is proprietary or is licensed to SRECTrade by our users or third parties. You agree that you will not use any robot, spider, scraper or other automated means to access the SRECTrade for any purpose without our express written permission. Additionally, you agree that you will not: · take any action that imposes or may impose (in our sole discretion) an unreasonable or disproportionately large load on our infrastructure; · copy, reproduce, modify, create derivative works from, distribute, or publicly display any content (except for Your Information) from the SRECTrade without the prior expressed written permission of SRECTrade and the appropriate third party, as applicable; · interfere or attempt to interfere with the proper working of the SRECTrade or any activities conducted on the SRECTrade; or · bypass our robot exclusion headers or other measures we may use to prevent or restrict access to the SRECTrade. Privacy We do not sell or rent your personal information to third parties for their marketing purposes without your explicit consent. We use your information only as described in the SRECTrade Privacy Policy. We view protection of users' privacy as a very important community principle. We store and process your information on computers located in the United States that are protected by physical as well as technological security devices. You can access and modify the information you provide us and choose not to receive certain communications by signing-in to your account. We use third parties to verify and certify our privacy principles. For a complete description of how we use and protect your personal information, see the SRECTrade Privacy Policy. If you object to your Information being transferred or used in this way please do not use our services. Indemnity You will indemnify and hold us (and our officers, directors, agents, subsidiaries, joint ventures and employees), harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement, or your violation of any law or the rights of a third party. No Agency No agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship is intended or created by this Agreement. Notices Except as explicitly stated otherwise, legal notices shall be served on SRECTrade's national registered agent (in the case of SRECTrade) or to the email address you provide to SRECTrade during the registration process (in your case). Notice shall be deemed given 24 hours after email is sent, unless the sending party is notified that the email address is invalid. Alternatively, we may give you legal notice by mail to the address provided during the registration process. In such case, notice shall be deemed given three days after the date of mailing. Resolution of Disputes If a dispute arises between you and SRECTrade, our goal is to provide you with a neutral and cost effective means of resolving the dispute quickly. Accordingly, you and SRECTrade agree that we will resolve any claim or controversy at law or equity that arises out of this Agreement or our services (a "Claim") in accordance with one of the subsections below or as we and you otherwise agree in writing. Before resorting to these alternatives, we strongly encourage you to first contact us directly to seek a resolution. We will consider reasonable requests to resolve the dispute through alternative dispute resolution procedures, such as mediation or arbitration, as alternatives to litigation. · Law and Forum for Disputes - This Agreement shall be governed in all respects by the laws of the State of Delaware as they apply to agreements entered into and to be performed entirely within Delaware between Delaware residents, without regard to conflict of law provisions. You agree that any claim or dispute you may have against SRECTrade must be resolved by a court located in Santa Clara County, California, except as otherwise agreed by the parties or as described in the Arbitration Option paragraph below. You agree to submit to the personal jurisdiction of the courts located within Santa Clara County, California for the purpose of litigating all such claims or disputes. · Arbitration Option - For any claim (excluding claims for injunctive or other equitable relief) where the total amount of the award sought is less than $10,000, the party requesting relief may elect to resolve the dispute in a cost effective manner through binding non-appearance-based arbitration. In the event a party elects arbitration, they shall initiate such arbitration through an established alternative dispute resolution ("ADR") provider mutually agreed upon by the parties. The ADR provider and the parties must comply with the following rules: a) the arbitration shall be conducted by telephone, online and/or be solely based on written submissions, the specific manner shall be chosen by the party initiating the arbitration; b) the arbitration shall not involve any personal appearance by the parties or witnesses unless otherwise mutually agreed by the parties; and c) any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction. · Improperly Filed Claims - All claims you bring against SRECTrade must be resolved in accordance with this Resolution of Disputes Section. All claims filed or brought contrary to the Resolution of Disputes Section shall be considered improperly filed. Should you file a claim contrary to the Resolution of Disputes Section, SRECTrade may recover attorneys' fees and costs up to $1000, provided that SRECTrade has notified you in writing of the improperly filed claim, and you have failed to promptly withdraw the claim. General We may amend this Agreement at any time by posting the amended terms on this Site. Except as stated elsewhere, all amended terms shall automatically be effective 30 days after they are initially posted. Additionally, we will notify you through the SRECTrade Message Center. This Agreement may not be otherwise amended except in a writing signed by you and us. This Agreement sets forth the entire understanding and agreement between us with respect to the subject matter hereof. The following Sections survive any termination of this Agreement: Fees and Services (with respect to fees owed for our services), Release, Content License, Liability, Indemnity and Resolution of Disputes.
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