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WTC POLICIES: HOW IT WORKS


WTC maintains an online independent electronic trade and information center combined with real-time trading, trading information and history where:

 1.  You can file, update, display and market your inventory through the Trade Center front office (public entrance) or through your own company entrance (back office).

 2.  You can calculate total asset values and outstanding values or display a specific asset’s value in real-time.

 3.  Third parties can, upon approval, enter and add their information to any specific asset independently.

 4.  Ownership, lessor and lessee interests can be registered, thus protecting interests.

 5.  Built-in auction facilities allow for real-time negotiations for anyone at any time anywhere in the world. All auctions are independently monitored by official parties.

 6.  Fleet owners, financial institutions and other involved parties can manage their assets, parts in real-time.

7.  We provide:
a. Carbon footprint registration.
b. Import and export documentation.
c. Asset and personal planning, as well as calendar facilities
d. Maintenance management and planning

8. 
Users and potential buyers will find the object they’re looking for within a maximum of five (5) clicks.

9. 
Visitors can surf free of charge at the public entrance.


WTC AUCTIONS

The World Treasury Center (WTC) offers an exclusive Internet service for selling or buying of a variety of movable and non-movable capital goods. A significant multitude of well-established companies use this site and the services of the World Treasury Center daily.
Contrary to other auctions, WTC does not charge Buyers a premium.

WTC offers several opportunities for those looking to buy.

• When you are looking for a particular object, start your search using WTC to scan the market, which will provide you with an overview of today's supply and demand, as well as the opportunity to compare specifications of objects offered.

• When you have questions about certain objects, use WTC to contact the seller directly.

• If you have an idea of what you want to buy and your budget, check our auction list for available items that meet your requirements.

When bidding in any auction situation, including auctions through WTC, buyers should always be aware of the adage Caveat Emptor (buyer beware). All objects are sold "AS IS," meaning they are sold with no guarantees against defects or faults. Therefore, it is in your best interest to inspect whatever you wish to buy. To ensure satisfaction before you making a bid, you may solicit the assistance of an independent expert adviser. If so desired, WTC can introduce you to a number of independent experts, who are able to take care of your interests by evaluating the condition and quality of objects offered for sale.

Click on the picture (frame) of the object of your interest to reveal direct contact information of a seller or his/her representative. WTC sellers are under obligation to grant access to objects they list for sale. This access is granted to all potential bidders, so that they may carry out inspections as well as assess all relevant (supplementary) information. If WTC in any way whatsoever finds that these conditions are violated, the auction will be suspended.

Information on objects offered for auction is provided by the sellers. Therefore, WTC cannot guarantee its correctness and completeness, nor accept responsibility, in case the information should not be correct.

The most important things to do BEFORE you start the process of bidding are:

a- confirm the condition of the object you are interested in
b- set a price limit on the items you intend to bid on.

When bidding, keep in mind that bids are irrevocable. We therefore advise you not to exceed your personal comfort zone with a bid. By bidding, you are entering into a legally binding transaction.

REGISTRATION

The WTC service is only available to individuals and businesses, who are allowed to enter into legally binding contracts. Only legal persons and company representatives who are entitled to bid or to make a bid on behalf of third parties may apply..
Upon acceptance of our User Agreement, you will need to complete our registration form and submit this to the WTC. Follow the on-screen instructions, after which we will contact you to complete your registration.

You are expected to submit various details with your registration, including: name, address, place of residence, copies of registration certificates of the trade register of the Chamber of Commerce, bank statements, copies of passports of all persons designated/authorized to act on your behalf, details of credit cards, etc. This information will be treated confidentially, according to our privacy regulations.

Once WTC has approved your completed registration form, you will be assigned an e-mail verification number, which you must use to complete your registration on the site. 
During the registration process, you must also choose a password. All responsibility concerning the use and protection of the confidentiality of your e-mail verification number, e-mail address and password will be entirely your own. 
You may not share your e-mail verification number or password with any third parties, or use your e-mail verification number or password for unauthorized purposes. You agree to notify WTC immediately of any unauthorized use of any e-mail verification number, e-mail address or password, or any other breach of security regarding the service of which you have knowledge.

WTC, at its sole discretion, reserves the right to disapprove your registration for any reason and prohibit you from participating in the service. In addition, WTC reserves the right to terminate your use of the service for any reason, at any time.

REGISTERED BIDDING OFFICES

Registered Bidding Offices are independent third parties (e.g. banking institutions, law offices, public notaries, lease companies, etc.) which, should you be unable to bid at a WTC auction, can bid on your behalf, provided they have been registered with WTC.

When you use the services of a Registered Bidding Office they will require a guarantee for possible payment of the amount of the bid (e.g. by asking for a bank guarantee). As a registered party, you then may put out bids to the amount in question.

Registered Bidding Offices will try to purchase objects for as little as possible, never exceeding your limit.
Each Registered Bidding Office has unlimited credit with WTC. Upon acceptance of the order to bid, Registered Bidding Offices will negotiate conditions with you to use their credit for your benefit. In practice, this usually means that you will have to provide security to use the credit of a Registered Bidding Office.

Please note that applicable taxes will be ADDED to the winning bid.

AUCTIONS

Once registered, you can bid online. You do this by typing a personal password and ID into the "lift boxes". Once you gain access to the system, you are taken to the selection page, through clicking a desired item on the left-hand side. 

Data will be displayed on-screen automatically. 

Auction details are shown on the left, top side of the screen, such as:

• The highest bid

• Your bids

• The actual selling price and bidding clock with buttons on top and below.

Click to the right of the picture for more information on the project.

To make a bid, select the desired amount and submit it accordingly. The system then will prompt you to confirm your choice of object and price accuracy. If this is correct, you can proceed with submitting your bid.

Upon receipt of the bid, a visible confirmation is sent automatically to the bidder, notary, WTC and, if applicable, to an additional trusted third party.

You’re free to bid as often as you like.

DOWN RATE

The auction clock runs, according to the announced starting date, down to a minimum reserved auction price or a non reserved auction price.
The price shown by the system is the price that is acceptable to the seller at that moment.
The result of the auction fixes the price in the end. It may be higher than the price was at any random moment during the auction.
 
DUTCH AUCTION AND BIDDING UP

As long as the bidding price does not equal (or is higher than) the clock price, no transaction will be realized. If the clock price is equal to, or is higher than the clock price, according to the interactive system, the highest bid will be announced as such.
The clock indicates this, whereupon the period of bidding starts to run; followed by the (definite) sale by outbidding. This period is intended to inform the bidder of the highest bid and to enable the other bidders to increase their bid.
If the clock runs out and stands on zero, the system tells the highest bidder that the sale has been effected and congratulates him on it.
Please remember that your final purchase price will be increased with sales tax, if applicable.
If your bid is the highest bid on/or above the reserved price (which may be secret, in the sense that it is not communicated for commercial reasons to the bidders prior during or after the auction), after completion of the period, you are compelled to complete the transaction in accordance with the special terms and conditions specified (if any) for the object at the price you have bid.
The WTC will send an e-mail to the winning bidder and the seller at the close of the auction. The winning bidder (buyer) must contact the seller within three (3) business days after the close of the auction and is expected to pay for the object on time and arrange delivery thereof.
If the buyer fails to contact the seller within three (3) business days, the seller may decide to sell to the next highest bidder.
 
INTERNET "HICCUPS"; SYSTEM INTEGRITY

The WTC makes reasonable commercial efforts to make its service and site accessible, however, the WTC is not responsible for any service interruptions, including, but not limited to, interruptions that may effect the receipt, processing and acceptance of bids or other aspects of an auction or sale.
 
DELIVERY

Upon entering the agreement with WTC, the seller agrees to transfer the object free and clear of:

• All liabilities

• Security interests

• Encumbrances

• Charges of any kind,

thus delivering good and merchantable title to the buyer.

The seller is responsible for loading sold objects for transport to the buyer in compliance with the buyer's shipping arrangements and shipping terms, as posted in their listing. In addition, the seller is also responsible to provide all necessary documents for the transfer of title within the buyer's jurisdiction.