The Secondary Market (Marketplace) on the FanEx platform allows Users to advertise and sell their Collectible. In the following, the definition of the ‘Buyer’ entails a User who wishes to buy a Collectible on the Marketplace and a ‘Seller’ is a User that wishes to sell his Collectible on the Marketplace. Together they are referred to as the ‘Users’
The Users are aware that the creation of an account on the application ‘Stripe’ (Stripe) is necessary in order to effectuate and receive payments. The Terms and Conditions of Stripe shall be applicable for any service that is provided via Stripe. For the avoidance of doubt, the use of the Stripe platform when selling / buying a Collectible is compulsory.
The following process is applicable to the selling and buying of a Collectible on the Marketplace.
Every Collectible that is owned by a User may be offered for sale. The Collectible has a minimum price of €0,50 and the price setting above this amount does not follow any standard, hence the price is solely based on the personal perception of the Seller. After the Seller has set the price for sale of the Collectible, the Seller shall receive a detailed subdivision of the pecuniary elements being the net profit for the Seller and the amounts that are labelled as contribution for admin costs and as such will be deducted from the sale price, see article 3.1a. The Seller may accept such a subdivision and after acceptance via the designated button the Collectible shall be placed on the Marketplace in combination with a referral to these Marketplace terms. In the case that a Buyer has initiated the buying process it is not allowed by the Seller to make use of the connected Perk to the Collectible. After payment has been effectuated by the Buyer, the Collectible shall be automatically removed from the Seller’s profile and be transferred to the profile of the Buyer and the Collectible shall be removed from the Marketplace. Within 48 hours, in accordance with the applicable terms of the Stripe application, the funds shall be transferred to the bank account of the Seller.
The Buyer may find a Collectible on the Marketplace. The Buyer identifies the Collectible of his choice and via a click he can initiate the Buying process. The process leads the Buyer to the Stripe payment application tool and there the Buyer encounters a payment option for (digital) payment, including terms that are applicable to that method of payment, of the sale price that is determined by the Seller for the Collectible. The Buyer shall be directed to Stripe and the Stripe general terms and conditions shall apply. After payment by the Buyer the Collectible shall be added to the Buyer’s profile page on the FanEx platform.
As an User you are aware that all activities in the sale and exchange of Collectibles on the Marketplace between Users, falls within the sole responsibility of the Users in relation to the following:
a) Price setting
b) Matching of interest
c) Conclusion of sale
e) Dispute Resolution
f) Tax obligations
g) Admin contribution
h) Royalty contribution
Buyer and Seller are aware that the FanEx Marketplace solely operates as a platform for facilitating the sale between Users. Collectibles are valued against the price determination by the Seller only. FanEx does not control or influence the price of the Collectible and shall merely define the added value of the admin costs and insert a percentage for the use of royalties, Buyer is solely responsible for evaluating the price and agreeing to the purchase price. The Users cannot rely on any guarantees, right and/or duties relating to FanEx in relation to determination of the price and sale of the Collectible and are aware that 6,775% of the sale price plus €0,10 shall be attributed to admin costs (FanEx: 3,025% incl. VAT, Stripe: 0,25% + €0,10) and royalties (Club(s): 3,5%)
Users may use the FanEx Marketplace as a showcase for their Collectibles. In the case that the Users are able to, and choose to add any promotional text and/or visuals in order to advertise the sale of the Collectible; they shall do so in accordance with the general Terms and Conditions of FanEx and all related legal, regulatory and reasonable requirements. FanEx shall have no influence on the placement of this content and withholds the right to sanction the (advertisement of) the sale by means of a warning, reprimand and ultimately with removing the relevant account(s) from the FanEx platform and Marketplace.
The sale of the Collectible on the FanEx Marketplace only leads to rights and duties between the Users. The Conclusion of Sale follows the procedure detailed in clause 3 of these Marketplace Terms. FanEx shall make no claims in relation the Conclusion of Sale and shall merely facilitate the process of the Conclusion of Sale.
Liability of FanEx is solely connected to issues that fall within the scope of FanEx’ responsibilities as a provider of online market and consumer exchange platforms and are laid down in relevant (Dutch) legislation. FanEx does not give any guarantees in relation to any qualitative feature of the Collectible, nor any connected Perk, and shall have no liability as a party to the Sale and Delivery process.
Any potential claims or Disputes between the Buyer and Seller shall be resolved between the Users, whereby FanEx underlines the benefits of solving any issue by means of an amicable approach. In the case of a dispute and consequential litigation, the Users shall be free to determine their own choice of law and forum, whereas when accepting to enter into the process of showcasing, sale and delivery the Users are bound to Dutch law and fora.
Users are aware of the fact that Sale and Delivery of Collectibles may lead to a taxable income to the Seller, in particular when the sale of the Collectible is effectuated against a higher value than its original purchase price. Users are required to effectuate, against their sole personal responsibility, any required tax declarations. Users are aware that FanEx is in no position to provide any financial, tax or legal advice and nothing in these, and other, applicable terms shall or may be construed in that manner.
The users are aware, and agree, that 2,5% (Excl. VAT) of the sale price and 0,25% of the sale price plus €0,10 shall be attributed to admin costs and subsequent granting of the continuous right to use the intellectual property of the original Tennant. Payment of these admin costs shall be effectuated via the platform and shall be channelled via the Stripe payment platform. Terms and Conditions of the Stripe payment platform may be found at https://stripe.com/en-nl/legal/connect-account. The Buyer is aware that in the case of a future resale similar terms apply in relation to the payment of the admin.
The users are aware, and agree, that 3,5% of the sale price shall be attributed to Royalty contribution costs and subsequent granting of the continuous right to use the intellectual property of the original Distributor. Payment of these admin costs shall be effectuated via the platform and shall be channelled via the Stripe payment platform. Terms and Conditions of the Stripe payment platform may be found at https://stripe.com/en-nl/legal/connect-account. The Buyer is aware that in the case of a future resale similar terms apply in relation to the payment of the admin.
FanEx has the right to modify these Marketplace terms and the Users agree and are aware that time to time modification is necessary in order to follow technological developments and trends. The change of these Terms and Conditions shall not have an impact on any claims, rights and/or duties attributed to FanEx and as laid down in these Marketplace terms.
Users have the duty of care to post and promote the sale of their Collectible and to adhere to rules and regulations that are applicable to them, such as, but not limited to relevant privacy laws, inter consumer sale legislation and relevant laws that apply to online sales and sale facilitating platforms such as the FanEx Marketplace.
The Users have previously agreed to the Terms and Conditions of FanEx when initiating their activities within the FanEx application. For the sake of clarity, the Terms and Conditions can be found HERE and the relevant Privacy regulations can be found HERE. By showcasing a Collectible in the Marketplace Users agree to be aware of these relevant rules, regulations and terms and commit themselves to adhering to them.
Not withstanding all of the above, FanEx may decide to intervene in the sale when FanEx is of the opinion that this is necessary from the point of view of a smooth operation of the FanEx platform.