Buyer fees
Buyer fees
Registration
Registering with GovPlanet® and participating in auctions are free.
Transaction Fees
For each item won in an GovPlanet Auction, the Buyer must pay a transaction fee. The amount of this fee is based on the final selling price and is detailed on the Payment tab of the listing page for each item.
Credit Card Fees
Credit card payments will be subject to an additional 2.95% convenience fee from iClosing. This fee will appear as a separate line on your credit card statement.
Default and Late Payment Fees
If the winning bidder fails to complete the transaction for any reason, they must pay a Default Fee based on the final selling price of the item less Buyer's transaction fee. In addition, Buyer will be charged a Late Payment Fee on all items purchased that have not been paid within five (5) business days after conclusion of a Purchase Contract. The Default Fees and Late Payment Fees are described in the chart below.
| Final Selling Price Ranges | Default Fee | Late Payment Fee (per business day per item) |
|---|---|---|
| $2,500 or less | $500 | $10 |
| $2,501 to $10,000 | $1,500 | $25 |
| $10,001 to $25,000 | $2,500 | $50 |
| $25,001 to $50,000 | $4,000 | $100 |
| $50,001 to $100,000 | $5,000 | $250 |
| $100,000 or greater | $6,500 | $250 |
If a bidder defaults on multiple items in the same auction the final selling prices of the defaulted equipment will be added together to determine the applicable default fees.
Unless and until all default and late payment fees are paid in full a customer will be prohibited from bidding on our site. GovPlanet unilaterally reserves the right to prohibit participation on our site at anytime.
Storage Fees
Buyers shall remove the equipment from Seller's premises no later than eight (8) business days after the Auction closes, after which Buyers may be responsible for payment of Storage Fees, and in some cases payment of cost to transport equipment to an alternate location. If a Buyer has not removed the equipment from the Seller's location within eight (8) business days after the close of the Auction for the piece of Equipment, the Buyer will be responsible for directly paying the Seller any and all storage fees if levied by the Seller. If levied by the Seller, standard storage fees will be $25 per day, beginning on the 9th day after the close of the Auction for the piece of equipment.
Relocation Fees
Failure to remove the equipment from the Seller’s premises within fifteen (15) calendar days after the Auction may result in relocation of the equipment to a storage facility. In the event of equipment relocation, all costs associated with relocation and storage will be due prior to pick-up being allowed. Additionally, a Relocation Fee equal to the greater of (i) 1% of sale price or (ii) $250 will be due for each unit relocated to storage.
