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Rules for Purchasing and Selling Brand Domains and Handles
(2024.12.30)
- Purchasing a Property:
You can buy a Brand Domain or Brand Handle ("Property") for a flat fee of US$6.00.
- Setting a Selling Price:
Set a selling price known as NYP (Name Your Price).
- Bidding Process:
Interested parties place a bond with the platform to indicate their interest in purchasing at the NYP.
- Decision Period:
Once a bond is placed by a bidder, you have 3 calendar days to decide whether to:
- Sell the Property at the original NYP.
- Pay a penalty (e.g., 20% of the NYP bond) and continue to own the Property.
- Receiving Payment:
If you accept the offer, you will receive the full NYP amount minus the transaction fee and the commission rate set by the platform at the time of transfer (e.g., 10% of the NYP bond).
- Third-Party Fees:
The platform will deduct any transaction fees charged by payment gateways and any applicable tax withholdings from the NYP amount before it is disbursed to you.
- Keeping the Property:
If you decide to keep the Property by paying the penalty, the bidder will receive a full refund of their NYP bond.
- Penalty Distribution:
The penalty paid by the original owner will be split 50/50 between the platform and the bidder.
- Third-Party Fees:
The platform will handle any transaction fees charged by payment gateways and any applicable tax withholdings from the penalty amount before distribution.
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