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HomeMy WebLinkAboutContract 2348 ti a3 Propertyroom.com's Trial or Test Disposition Services Agreement • This Trial ! TEST BASIS Services Agreement dowrnents an arrangement between PropertyRoom. cart (PRC) and The Columbia Heights Police Deparbnent br purposes of pern an evaluation period for testing new PRC services being made available to the Client The Agreement is modified as blows Term and Termination: The term of this Service Agreement will be issued for 6 months on a TRIAL / TEST BASIS. After the first 6 month the Service Agreement will auto -renew for one . year unless there is a 30 day written notice for termination without cause by either Party. 1. Method of Selling Property. a. Portable Property items. PRC will, on Owners behalf, pick -up, store and list Property for sale by auction to the public an the interns on one or more domain names selected by PRC. To the extent that any Property is not sold by auction, PRC may, in any commercially reasonable manner selected by PRC, dispose of Property. PRC will determine all aspects, terms and conditions of auctions of Property and &positions of Property not purchased at auction, subject to the ultimate control of Owner. PRC will be responsible for all phases of submitting the Property for auction. including, but not limited to, deiiog when Property will be auctioned. setting the opening and reserve prices of Property, if arty; determin ng the selling peace, setting the length of time Property will be auctioned; creating text and graphics to describe and depict Property submitted for anal= collecdog SBuyes inforneetion (such as name, bitting address, shipping address, and credit card information); approving Buyer credit card purchase transactions; and collecting auction proceeds . for completed sales from Buyers. NC shall use reasonable commercial affirm in auctioning and - - selling the Property on the Internet and disposing of Property that does not sell at auction. PRC .:. • shall sell and dispose of all Property as err' without any liability to the Owner. PRC is solely responsible for identifying and resolving sales and use tax collection issues arising from Property sales, including the necessity of charging and collecting such taxes. 2. Allocation of Sales Proceeds. a. Portable Property Items (1) Sake Price. The total amount paid by Buyer shall be called the "Sales Prize." The Sales Price shall include the winning bid amount (the "Winning Bid') and all costs, shipping and handling charges, taxes, and insurance costs associated with the transaction and paid by Buyer. (2) The Split. For each hem of Property, Owns will be credited with 50% of the first $1,000 of the Winning Bid and 75% of the Winning Bid portion, if any, that exceeds $1400. From this amount, the Owner's pro rata share of transaction fees ( the "Processing Costs'), if any, will be deducted. (3) Processing Costs. Credit card processing costs ("Credit Card Cost") and affiliate processing fees (the "Affiliate Fees," which include commissions and processing costs paid to third parties IF they sent the winning bidder to the website), will be borne by Owner and PRC in proportion to the percentage of the revenue credited to the parties for each underlying transaction. (4) Net Proceeds. Amounts received by the Owner will be called "Owner's Net Proceeds'. Portable Item $sample. The following example illustrates allocation of proceeds from a Portable Property Item sale. Assume an hem of Property sells at auction fora $100 Wining Bid; the Buyer • - . . pays shipping and handling of $10, insurance of $2, and sales tax of $6. The Buyer pays the Sales - • - Price of $118.00 ($ 100 + $10 + $2 + $6) by credit card, and the Credit Card Cost is 3% of the Sales Price or 53.54 (0.03 x $115) and the Aerate Fee is 42% or $4.80 (0.048 x 5100). The Owner and PRC each share 50% of the underlying Winning Bid. therefore Credit Card Costs and Affiliate Fees are also shared equally, $1.77 each (53.54 + 2) for Credit Cost and $2.40 each • .__._.._.._ ....._._.P... -_ __... __. .. ...._. • • • ($4.80 + 2) for Affiliate Fees. The Owner's Net Proceeds are $45.83 ($50.00 less $4.17). Note less than 1 out of 10 transactions include Affiliate Fees. (5) Fuel Sereherge. The Company does NOT charge pick-up fees. Instead, a fuel snrcharg applies per Portable Item moldiest when diesel prices rise above a specific level as shown in the Fad Surcharge Schedule below. The Company benchmarks average diesel retail prices as published online by the Energy Infosmaaon Administration of the US Department of Energy and reels its fuel surcharge quarterly based on pricing from the prior quarter. Peel surcharges, if any, deduct from monthly Owner's Net Proceeds. Fuel Surcharge Schedule Retell Diesel:(taer sin . Fuel Snrcherne': ; - Less than $2.50 S 0.00 $ 250 to $ 2.99 $ 12.40 S 3.00 to $ 8.49 $ ' 24.80 S 350 to $ 3.99 S 37.20 S 4.00 to $ 4.49 $ 49.60 S 450 to S 499 S 62.00 $ 500 to S 549'* S 74.40 • Divides anon bmdooe 'agar aobaxooab pidmd•up lame d49 ✓ 715h aaadeaa armed a same saw 3. Payment Terns. Once every month. PRC will pay to Owner t amount of Owner's Net Proceeds payable for completed sales during the preceding month. Sales are deemed completed when ail items comprising a line item on the original manifest or other list of Property are sold. With each payment of Owner's Net Proceeds, PRC will make available to Owner a detailed report setting forth the following information for the immediately preceding month: • a. The completed sales daring the prior month, including the total amount orrilithist Proceeds collected, Owner and PRC share of Processing Costs, and the Owners Net Proceeds: b. Other dispositions of Property during the month: and . . .. _ - . _ .a _ -ThePnoperty, if any, inventoried by PRC at the end of the month.. .. _ •, ... _ . ... _/ Date for 'Owner • 1 7 //‘% Date �„ . . .. _ • • • •