I have just been looking at the Moniker auction terms and conditions and it seems to me that if you submit names to a Moniker auction they have exclusive rights over those names for at least 120 days and probably a lot longer and are entitled to a commssion on any sale, even if they had nothing to do with the sale and even if they did not even enter the name into any auction. Just by the fact of filling in the form and signing the agreement you agre that they are entitled to a commission even if they do nothing. Also this agreement goes on forever unless you write to them "within 15 days of expiration" note the ambiguous wording - does this mean 15 before the end or 15 days after the end ?
This might also explain why they never tell you that your names have not been accepted into an auction - they just don't out them in the auction but never write to tell you.
Here is the clause I am referring to.
"1. TERM OF THE AGREEMENT: Seller grants Buyer/Seller Agent the exclusive right and authority to sell the Name(s) for one hundred and twenty (120) calendar days from the date of submitting/declaring one of the Name(s) on the ADDENDA to this Agreement or sixty (60) days from the conclusion of any auction or private sale taking place after the submission/declaring of the Name(s) on the ADDENDA, whichever occurs later (the “Exclusive Sale Period”). The ADDENDA to this Agreement shall consist of, but are not limited to, those items submitted by Seller for selection and acceptance by Buyer/Seller Agent to secure purchasers. This exclusive right and authority to sell period will automatically renew at the end of each term unless Buyer/Seller Agent is notified by Seller in writing within 15 days of expiration that Seller is terminating the Agreement.
Once a Name is submitted by Seller, whether by ADDENDA or otherwise, the Name becomes subject to this Agreement, whether or not Seller is notified that the Name has been selected for the auction or private sale. If, however, Buyer/Seller Agent notifies Seller that a Name has not been selected for auction or private sale, Seller will be permitted to withdraw the Name from submission. "
This might also explain why they never tell you that your names have not been accepted into an auction - they just don't out them in the auction but never write to tell you.
Here is the clause I am referring to.
"1. TERM OF THE AGREEMENT: Seller grants Buyer/Seller Agent the exclusive right and authority to sell the Name(s) for one hundred and twenty (120) calendar days from the date of submitting/declaring one of the Name(s) on the ADDENDA to this Agreement or sixty (60) days from the conclusion of any auction or private sale taking place after the submission/declaring of the Name(s) on the ADDENDA, whichever occurs later (the “Exclusive Sale Period”). The ADDENDA to this Agreement shall consist of, but are not limited to, those items submitted by Seller for selection and acceptance by Buyer/Seller Agent to secure purchasers. This exclusive right and authority to sell period will automatically renew at the end of each term unless Buyer/Seller Agent is notified by Seller in writing within 15 days of expiration that Seller is terminating the Agreement.
Once a Name is submitted by Seller, whether by ADDENDA or otherwise, the Name becomes subject to this Agreement, whether or not Seller is notified that the Name has been selected for the auction or private sale. If, however, Buyer/Seller Agent notifies Seller that a Name has not been selected for auction or private sale, Seller will be permitted to withdraw the Name from submission. "
