These terms govern the use of EZbid.lv (hereinafter – the Platform) and are binding on all persons (hereinafter – Users or Bidders) who access the Platform and/or participate in auctions organized therein.

1. GENERAL PROVISIONS

• 1.1. Purpose: The main goal of the Platform is to provide a transparent, efficient, and competitive environment to determine the Winner – the Bidder who offers the Seller (Property Owner) the most financially advantageous Bid for the acquisition of the Object.

• 1.2. Platform Operator: The Platform is managed and maintained by EZbid (hereinafter – the Operator).

• 1.3. Agreement to Terms: By registering on the Platform and/or making a Bid, the User confirms that they have read these Terms and agree to their binding nature.

2. USERS AND REGISTRATION

• 2.1. Registration Procedure: Any person who has registered on the Platform and verified the accuracy of the provided data using identification tools specified by the Operator may become a Bidder.

• 2.2. Suspension or Restriction of Participation: The Operator is entitled, at its sole discretion and without prior notice, to suspend or restrict a Bidder’s participation in an Auction or the Platform (before, during, or after the closing time) if:

  • 2.2.1. False information was provided or requested documents were not submitted.

  • 2.2.2. There are reasonable suspicions of actions that unfairly affect the course or result of the Auction (e.g., price manipulation).

  • 2.2.3. The Operator believes the Bidder is insolvent or their solvency is limited.

  • 2.2.4. The Bidder has previously failed to comply with these Terms or fulfill undertaken obligations.

  • 2.2.5. The Bidder does not comply with the requirements of sanction regulations (see point 6.5).

  • 2.2.6. For other significant legal or ethical considerations.

3. AUCTIONS

• 3.1. Auction Information: The Operator displays Object Auction information on the Platform (including Starting Price, Bid Increment, “Buy It Now” price, and Object details).

• 3.2. Confirmation of Bid: By submitting a Bid, the Bidder confirms:

  • 3.2.1. Their will to participate and agreement to the terms.

  • 3.2.2. That they possess complete information about the Object to make an informed Bid.

  • 3.2.3. That they have legally obtained and sufficient funds to cover the Object’s cost and related expenses.

• 3.3. Process and Timing: The Auction takes place within the Start and End times set by the Operator. The Operator is entitled to change these times by posting information on the Platform.

• 3.4. Registration of Bids: Bidding takes place electronically and is registered on the platform.

• 3.5. Conclusion: After the End time, the Platform technically closes the bidding option.

• 3.6. Confirmation of Conclusion: The final bid is coordinated with the Seller; if the Seller is satisfied with the final outcome, the Winner is notified of their victory.

• 3.7. Cancellation of Auction: The Operator may declare an Auction void if bid manipulation, technical failures, bid collusion, or other independent reasons are detected. In such cases, the previous bidder may be declared the Winner at the Operator’s discretion.

4. RESPONSIBILITY OF THE SITE AND THE USER

• 4.1. Identification Tools: Bidders are fully responsible for the confidentiality, storage, and protection of their access data (identification tools). All actions performed with User data are considered to be performed by the User.

• 4.2. Prohibitions: Users may not perform actions that threaten the security, integrity, or purpose of the Platform.

5. CONFIDENTIALITY, DATA PROCESSING, AND SANCTIONS

• 5.1. Confidentiality: Bidders undertake not to disclose any information obtained from the Platform (regarding the Seller, Object, Auction progress, etc.) to third parties.

• 5.2. Direct Contact: Bidders are prohibited from contacting or attempting to contact the Seller directly without the Operator’s consent. In case of violation, the Operator is entitled to immediately exclude the Bidder from the Platform.

• 5.3. Bid Collusion: Collusion between Bidders regarding bid prices or other Auction aspects is prohibited. Such actions result in immediate exclusion from the Platform and reporting to law enforcement agencies.

• 5.4. Personal Data Processing: The Operator processes User data (name, surname, contact information) to ensure the operation of the Platform and Auctions in accordance with Latvian and EU regulations. Data is transferred to third parties only for the fulfillment of the Terms or in cases specified by law.

• 5.5. Compliance with Sanctions: The Operator is entitled to immediately exclude a Bidder from the Platform if international or national sanctions are applied against the Bidder, its officials, or ultimate beneficial owners.

6. OTHER RIGHTS AND RESPONSIBILITIES

• 6.1. Decision Making: Only the Operator has the right to make decisions regarding the use of the Platform and the conduct of Auctions. The Operator’s decisions are final and not subject to appeal.

• 6.2. Changes to Terms: The Operator is entitled to unilaterally amend these Terms by publishing an updated version on the Platform. It is the User’s responsibility to follow these changes.

• 6.3. Role of the Operator: The Operator is not a party to the Object Purchase Agreement, is not a sales agent, and does not participate in the coordination, conclusion, or execution of the agreement.

• 6.4. Limitation of Liability: The Operator is not responsible for:

  • 6.4.1. The accuracy and completeness of the information provided by the Seller about the Object.

  • 6.4.2. Losses resulting from defects in the Object.

  • 6.4.3. Losses incurred if the Seller (or a person with the right of first refusal) refuses to conclude the Purchase Agreement.

  • 6.4.4. Expenses incurred by Bidders in connection with participation in the Auction.

• 6.5. Right of First Refusal: Bidders are aware that third-party rights of first refusal may exist for Objects. If exercised, the Purchase Agreement cannot be implemented, and the Operator is not responsible for resulting losses.

• 6.6. Force Majeure: Failure to comply with the Terms is not considered a violation if it resulted from force majeure.