Terms of Service Recovery Auctions LLC

Okay, here is a complete Terms of Service incorporating the bidder verification process for both individuals and companies, including the request for company tax and registration numbers where applicable. This combines elements from our last three exchanges.

Terms of Service

Last Updated: May 2025

  1. Acceptance of Terms

Welcome to recovery-auctions.com  (the “Website”). By accessing or using the Website, you (“User” or “Bidder”) agree to be bound by these Terms of Service (“TOS”) and our Privacy Policy, which is incorporated herein by reference. If you do not agree to these TOS, you may not access or use the Website.

  1. User Eligibility

By using this Website, you represent and warrant that you are at least 18 years of age and have the legal capacity to enter binding contracts under California law.

  1. Account Registration and Bidder Verification

To participate in auctions on this Website, you must register for an account. As part of the registration process, you agree to provide accurate, current, and complete information about yourself or your company, as applicable.

3.1 Bidder Verification Process:

3.1.1 For Individual Bidders:

  • Providing your full legal name, current residential address, and contact information -email address is mandatory and phone number is optional.
  • Providing information to verify your solvency and ability to complete transactions. This will be assesed by Stripe our payment partner.
  • Agreeing to allow Recovery Auctions LLC to conduct reasonable inquiries to verify the information you provide.

3.1.2 For Bidders Registering on Behalf of a Company:

  • Providing the legal name of the company, its principal business address, and contact information (email address and phone number for a designated representative).
  • Providing the company’s official registration number (e.g., issued by the relevant government authority).
  • Providing the company’s tax identification number (e.g., EIN).
  • Providing the full legal name and title of the individual registering on behalf of the company.
  • Providing information to verify the company’s solvency and ability to complete transactions. This may involve providing financial statements or other relevant documentation as reasonably requested by Recovery Auctions LLC.
  • Agreeing to allow Recovery Auctions LLC to conduct reasonable inquiries to verify the information provided about the company and the individual representative.

3.2 Account Security:

You are responsible for maintaining the confidentiality of your account credentials (username and password) and for all activities that occur under your account, whether you are bidding as an individual or on behalf of a company. You agree to notify Recovery Auctions LLC immediately of any unauthorized access to or use of your account. You do have the option of 2FA security in your account page, we strongly advise to implement this once registered. 

  1. Auction Process

4.1 Listing Descriptions:

We strive to provide accurate descriptions and images of the assets being auctioned. However, all assets are sold “AS IS, WHERE IS,” with all faults and without any warranties, express or implied, unless explicitly stated otherwise in a specific listing. Bidders are encouraged to carefully review all listing details and conduct their own due diligence before bidding.

4.2 Bidding:

By placing a bid, you are entering into a legally binding offer to purchase the listed asset if you are the winning bidder. You acknowledge that all bids are irrevocable once submitted and the winning bid is deducted from your payment method if you are the winner of the auction  instantly.

4.3 Auction Closing:

Auctions will close at the time specified in the listing. Recovery Auctions LLC reserves the right to extend auction closing times at its sole discretion.

4.4 Winning Bids:

The highest bid at the close of the auction, meeting or exceeding any reserve price, will be deemed the winning bid. The winning bidder will be notified via email and in their account section.

  1. Payment

5.1 Payment Obligation:

The winning bidder is obligated to pay the full purchase price, including any applicable taxes and fees, within the time frame specified in the auction listing or notification.

5.2 Payment Processing:

All payments are processed through our secure third-party payment platform Stripe. Recovery Auctions LLC does not collect or store your sensitive financial information, such as credit card details or bank account numbers. This information is securely handled by Stripe in accordance with their terms and privacy policy. We do keep a record of your payment method in your account section, but only the last 3 digits for you to be aware of which method you registered. All other information is handled by Stripe.

5.3 Failure to Pay:

Failure to make timely payment may result in the following:

  • Cancellation of the sale.
  • Forfeiture of any deposits.
  • Suspension or permanent termination of your bidding privileges on the Website.
  • Liability for any losses incurred by Recovery Auctions LLC or the bankruptcy estate due to your failure to pay, including but not limited to the difference between your winning bid and the final sale price to another bidder.
  1. Asset Removal

The winning bidder is responsible for the timely removal of the purchased asset(s) at their own expense and risk, within the time frame and according to the instructions specified in the auction listing or notification. Failure to remove the asset(s) within the designated time frame may result in storage fees or forfeiture of the asset(s) and any payments made.

  1. Conduct on the Website

You agree to use the Website in a manner that is lawful, respectful, and does not infringe upon the rights of others or restrict or inhibit their use and enjoyment of the Website. Prohibited conduct includes, but is not limited to:

  • Placing fraudulent or insincere bids.
  • Attempting to manipulate the bidding process.
  • Using the Website for any illegal or unauthorized purpose.
  • Harassing or interfering with other users.
  • Uploading or transmitting any harmful or offensive content.
  1. Termination

Recovery Auctions LLC reserves the right to suspend or terminate your account and access to the Website at any time, with or without cause, including but not limited to your breach of these TOS.

  1. Disclaimer of Warranties

YOU EXPRESSLY AGREE THAT YOUR USE OF THE WEBSITE IS AT YOUR SOLE RISK. THE WEBSITE AND ALL CONTENT, PRODUCTS, AND SERVICES OFFERED THROUGH THE WEBSITE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR COURSE OF PERFORMANCE. Recovery Auctions LLC makes no warranty that the Website will be uninterrupted, secure, or error-free.

  1. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY CALIFORNIA LAW, Recovery Auctions LLC, ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES) ARISING OUT OF OR RELATING TO YOUR USE OF OR INABILITY TO USE THE WEBSITE, ANY TRANSACTIONS ENTERED INTO THROUGH THE WEBSITE, OR THESE TOS, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), OR ANY OTHER LEGAL THEORY, EVEN IF Recovery Auctions LLC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. OUR TOTAL LIABILITY TO YOU FOR ANY CLAIM ARISING OUT OF OR RELATING TO THE WEBSITE OR THESE TOS SHALL NOT EXCEED THE AMOUNT YOU PAID TO US, IF ANY, IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE LIABILITY.

  1. Indemnification

You agree to indemnify, defend, and hold harmless Recovery Auctions LLC, its affiliates, officers, directors, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys’ fees) arising out of or relating to your use of the Website, your breach of these TOS, or your violation of any rights of another party.

  1. Governing Law and Dispute Resolution

These TOS shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of law principles. Any dispute arising out of or relating to these TOS or the Website shall be exclusively resolved in the state or federal courts located in [Specify County], California, and you hereby consent to the jurisdiction of such courts.

  1. Modifications to the Terms of Service

Recovery Auctions LLC reserves the right to modify these TOS at any time. We will post any changes on this page and update the “Last Updated” date. Your continued use of the Website after any such changes constitutes your acceptance of the revised TOS. It is your responsibility to review these TOS periodically for any updates.

  1. Contact Us

If you have any questions about these TOS, please contact us at:

Recovery Auctions LLC

Monrovia, CA 91016

info@recovery-auctions.com