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Schedule A — Bidder Terms

Updated: February 2024

These Bidder Terms are incorporated by reference into the SiteBid Pro Services Agreement. By upgrading to a Bidder account, you agree to these additional terms. For all bidding-related activity, the Participation Agreement (Bidder Terms) governs and controls: https://sitebid.com/disclaimers/participation-agreement/.

  1. Governing Terms (Canonical Reference). The Participation Agreement (Bidder Terms) is the authoritative rulebook for bidding, LOIs, auctions, fee obligations, non-circumvention, liquidated damages, and remedies. In any conflict, the Participation Agreement controls over this Schedule A.
  2. Scope of Services. SiteBid provides access to its marketplace for utility assets, including:
    • Digital marketplace listings
    • Facilitation of non-binding LOIs
    • Auction participation for sales, buyouts, assignments, or easements
    • Due diligence coordination and valuation guidance
  3. Restrictions. SiteBid is not a broker, attorney, escrow agent, fiduciary, or advisor. All contracts must be finalized between Bidder and Site Owner through licensed professionals. SiteBid does not negotiate, draft, execute, or enforce purchase/lease documents and does not handle escrow or closing.
  4. Eligibility. Bidder must be pre-approved and financially qualified. SiteBid may suspend or ban users for misconduct, fraud, policy violations, or circumvention.
  5. Compensation & Payment.
    • Default schedule (subject to the Participation Agreement and Property Page disclosures):
      • Sales: 4% of purchase price or $10,000 minimum (whichever greater)
      • Leases: 6% of total lease value
      • Cancellations/ROFR: 50% of applicable cancellation fees
    • Timing/Mechanics: Fees are due through escrow at closing or, if applicable, within the stated period (default 5 business days) as set forth in the Participation Agreement and transaction documents.
    • Collection: Bidder authorizes escrow/closing agents and SiteBid’s processors to deduct/charge applicable fees as permitted. Overdue balances may accrue interest up to 1.5%/month (or the maximum allowed by law) plus reasonable collection costs.
  6. Confidentiality & Non-Circumvention. For 24 months after a SiteBid introduction, Bidder must not bypass SiteBid to close off-platform. Breach results in liquidated damages (the greater of 6% of the highest bid or $10,000) and equitable relief, as further detailed in the Participation Agreement.
  7. Bidder Obligations. Bidder will: (i) provide accurate information; (ii) conduct its own due diligence with licensed advisors; (iii) comply with auction/bid rules; (iv) refrain from shill bidding, collusion, or fraud; and (v) comply with all applicable laws and the Participation Agreement.
  8. Term; Survival. Two (2) years, auto-renewing annually unless terminated with 30 days’ written notice. Obligations that by their nature should survive—including fees, non-circumvention, confidentiality, indemnity, and dispute resolution—survive termination.
  9. Notices. Legal notices to SiteBid must be sent to: SiteBid, Inc., Attn: Legal Notice, 4752 Palm Ave., Suite 102, La Mesa, CA 91942 and by email to legal@sitebid.com. Notices to Bidder may be sent to the email or postal address in the Bidder’s account and are deemed delivered upon dispatch with confirmation or successful transmission.
  10. Dispute Resolution. As between Bidder and SiteBid, disputes are resolved per the Dispute Resolution & Arbitration section of the SiteBid Terms of Use (FAA-governed AAA arbitration with class-action waiver and small-claims/IP relief carve-outs).
  11. Order of Precedence. (i) Any signed auction-specific order form or amendment; (ii) the Participation Agreement (Bidder Terms); (iii) this Schedule A; (iv) Pro Services Agreement; (v) Terms of Use; (vi) incorporated policies.
  12. Incorporation by Reference. The following are incorporated into this Schedule A: