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Settlement Agreement

Settlement Agreement and Policy

AllStarBids operates a split-settlement model to support auction marketplace activities. The seller acknowledges and agrees that this structure satisfies the seller’s % commission obligation to AllStarBids.

Upon auction close, 9.5% of the final hammer price is processed as the auction marketplace operations (commission) portion to the winning bidder’s (buyers) credit card on file, or an alternative credit card of the buyer’s choice via invoice from AllStarBids. This charge acts as a “deposit” to secure the won auction lot item(s).
Note – This is NOT a winning bidder (buyer) fee, it is deducted from the total hammer price before the remaining balance of the won item(s) must be paid in full to the seller via their accepted payment means.

If this credit card transaction fails in any way, the buyer will be contacted by AllStarBids and may provide another form of payment in order to ensure not losing their winning bid position for the item. If a new form of
payment cannot be provided within 24 hours, the winning bidder’s bid is considered forfeited and AllStarBids reserves the right to contact the secondary (runner-up) bid user.

If the secondary user does not choose to accept the auction “win” as the runner-up bid or cannot provide payment within 24 hours, the lot item win will be nullified and the seller will be contacted by AllStarBids. The seller may then repost the item
for sale again if desired.

If the winning bidder (buyer) credit card transaction is successful, a settlement invoice is then sent to both parties and the remaining balance of the won lot item is payable directly to the seller according to the
seller’s accepted payment method(s). The winning bidder (buyer) has 72 hours (3 days) to complete payment of the remaining balance. Only then will the seller ship out the item within 72 hours (3 days).

1. Platform Settlement Processing and Allocation

  • AllStarBids facilitates the transaction by first collecting a 9.5% marketplace operations/settlement commission portion (deposit) at auction close from the winning bidder (buyer’s) credit card on file or a different credit card per invoice sent to them. If the winning bidder (buyer) has won more than one auction lot, this charge will be a total of all lots (at 9.5% per item).
  • This amount is not an additional fee and is included within the final price.
  • The proceeds are allocated to AllStarBids with the remaining balance paid directly to the seller.
  • Once invoices are issued, the buyer must pay the remaining balance to the seller within 72 hours (3 days).
  • Once payment is received, the seller must ship the item(s) within 72 hours (3 days).
  • After the buyer confirms receipt, feedback may be left by both parties.

2. Fees & Settlement

2a. Seller Commission

Sellers agree to pay AllStarBids a marketplace operations / settlement commission equal to
9.5% of the final hammer price of any item successfully sold through the platform.

  • The commission is earned upon the close of a successful auction.
  • The amount is taken from the buyer’s payment method before the remaining balance is paid to the seller.
  • The seller may not ship the item until the settlement invoice is received and payment is confirmed.

2b. Buyer Payment Obligation

  • Pay the marketplace operations commission portion to AllStarBids.
  • Pay the remaining balance directly to the seller within the stated payment period.

Upon auction close, the winning bidder (Buyer) is obligated to remit payment of the full hammer price
plus any applicable taxes and shipping charges. Failure to complete payment may result in loss of the auction win, deposit forfeit, account suspension, or termination.

3. Chargebacks & Disputes

If a buyer initiates a payment dispute, chargeback, or reversal, AllStarBids reserves the right to:

  • Withhold auction completion for 24 hours until a new payment method is provided.
  • Transfer the winning position to the next highest bidder if payment is not provided.
  • Offset future proceeds.
  • Suspend accounts pending investigation.

No Buyer Premium: The buyer pays only the final hammer price plus applicable taxes and shipping.

4. Non-Circumvention

Users agree not to:

  • Cancel auctions to avoid commission
  • Complete transactions outside the platform
  • Divert buyers to private payment channels

Violations may result in permanent account suspension.

5. Limitation of Liability

AllStarBids is not a party to the direct payment transaction between buyer and seller under this model.

AllStarBids does not guarantee the performance of either party with respect to the direct payment portion.

6. Off-Platform Transactions

Users agree not to circumvent or bypass AllStarBids’ fee structure or transaction processes.

  • Attempting to complete a transaction outside the platform
  • Sharing contact information for off-platform sales
  • Altering listings to avoid commissions
  • Soliciting buyers for private transactions

7. Protection Period

For 90 days following the end of an auction, buyers and sellers introduced through
AllStarBids may not complete a private transaction for the same item.

If such a transaction occurs, the seller agrees that the standard commission
(9.5%) remains due.

8. Commission Recovery

If a transaction occurs off-platform, AllStarBids may:

  • Invoice the seller for the applicable commission
  • Charge any payment method on file
  • Offset amounts against future proceeds
  • Suspend or terminate accounts
  • Pursue legal remedies

9. Chargeback & Payment Reversal Recovery

Buyer Payment Finality

  • The buyer is authorized to use the provided payment method.
  • The transaction is legitimate.
  • The buyer will not initiate unjustified chargebacks.

Chargeback Liability

If a payment is reversed, the responsible party must cover:

  • Reversed funds
  • Processor penalties
  • Administrative fees
  • Investigation costs

10. Fraud, Authentication & Item Condition Disclaimer

AllStarBids operates solely as an online auction marketplace connecting buyers and sellers.

  • AllStarBids does not own listed items.
  • AllStarBids does not take possession of items.
  • Authenticity is not guaranteed unless explicitly stated.

Buyers acknowledge that collectibles and memorabilia markets involve risks including market volatility,
subjective grading, and potential undiscovered defects.

Sellers are responsible for accurate listings and disclosure of item condition.