Domain Trading Rules

01 Basic Requirement

02 Transaction Fee

03 Security Deposit in Auction

04 Bid Increment in Auction

05 About Ending Time

06 About Auction Confirmation

07 About Default

08 About Deal and Domain Transfer

09 About Expired Domain Auction

01 Basic Requirement

Participants must comply with the principle of fairness and good faith; once the domain put in auction, it will be locked and prohibited from transfer. Buying one¡¯s own domain is forbidden. west.xyz has right to deal with the above violations.

02 Transaction Fees

Participants can choose whether to withdraw deposit before publish deals. The handling fee for withdrawal is 1.8% of final transaction amount. The handling fee is 0.8% of final transaction amount if participants choose not to withdraw after deal. (Free when the handling fee is less than CNY1 or the transaction amount is less than CNY100.) As for .com/.net/.cn/.cc, there is no handling free for no withdrawal and only 0.8% for withdrawal

03 Security Deposit in Auction

west.xyz will deduct corresponding security deposit automatically when the bidder submits a bid as following,

Bid Amount Security Deposit
¥1-9 ¥10
¥10 - 199 ¥20
¥200 - 999 ¥50
¥1000 - 49999 10% of bid amount
¡Ý¥50000 ¥5,000

1. Invalid bid if there is no enough balance in the bidder's account.
2. Refund security deposit to the former bidder when latter bidder submits a successful bid.
3. Handling fee for deposit withdrawing is 1% of total withdrawal fund. (Free when the handling fee is less than CNY1000.)
4. If it is the expired domain auction, the security deposit must exceed the starting price.

04 Bid Increment in Auction

A bid increment is the amount over the last valid bid the next bid has to be in order to be accepted by the system. This prevents auctions from going on for an unreasonable amount of time because of non-serious counter bidding.

Here is the current structure for bid increments:

Current Bid Min Bid Increment
¥1 - 49 ¥1
¥50 - 499 ¥10
¥500 - 999 ¥50
¥1000 - 4999 ¥100
¥5000 - 9999 ¥200
¥10000 - 29999 ¥500
¥30000 - 99999 ¥1,000
¥100000 - 299999 ¥2,000
¡Ý¥300000 ¥5,000

05 About Ending Time

1.All customers can bid for a domain before the ending time.

2.The ending time will extend for another 5 minutes, provided there's a new bid within 5 minutes before the scheduled ending time. For example, the scheduled ending time is UTC 20:00:00, then it will be UTC 20:05:00 if a bid happens at UTC 19:59:51. The 5-minute extension can be cycled till there is no new bid.

3.For any programming failure or unexpected networking problem, which may cause the ending time advanced or delayed in real time, west.xyz reserves the right to decide whether to extend the auction for one day.

06 About Auction Confirmation

1. The vendor has 24 hours to confirm whether to sell domain at the price of closing cost. Once confirmed (No action within 24 hours is regarded as an implied consent), it comes into payment process of buyer. (Attention: No-bargain domains do not need confirmation from the vendor.) The refusal of vendor is considered as default.

2. As for the wrongly price setting which leads to the transaction amount is 5 times different from the average market price(£¾CNY3000) , west.xyz reserves the right to decide whether to get involved. (Once the transaction cancelled within 48 hours, vendor has to compensate 15% liquidated damages to the buyer and another 15% for west.xyz.)

3. As for the domains from the third-party, the vendor needs to transfer the domain into west.xyz within 10 days and make the final confirmation after auction. The vendor has to pay liquidated damages, provided that he refuses to deal or the domain is not in his account at the end of acknowledging time.
The buyer is supposed to confirm within 12 days and pay the balance when confirms.
As for confirm extension, both vendor and buyer can apply for two times (renewal 1 to 7 days/per time) at most. The time postpones only in the case that the other side agrees with the extension application.

07 About Default

1. Vendor: If there is no offer under the domain, the vendor can cancel the transaction unilaterally.
On the contrary, the vendor has to pay liquidated damages after auction (equal to the security deposit of the winning bidder) when he cancels, with 50% compensating for the buyer.
The deal cannot be cancelled if there is no sufficient balance under vendor¡¯s account to pay the liquidated damage.

2. Buyer: If no action is taken within 72 hours, west.xyz will deduct the auction fee from the winner's account without early notice.
If no action is taken within 72 hours, and there's no enough balance on the winner's account, west.xyz will consider the winner no long want the auction and the security deposit (50% compensating to the vendor) will not be returned.
Attention: The buyer needs to pay within the same day in expired domain auction.

3. No-bargain Domain: The deal is made once the buyer offers price with domain pushed into buyer¡¯s account. The vendor has to return the transaction price and pay additional 10% of that (up to CNY 5000), provided the transaction fails due to domain transfer and so on.

4. As for the auction domains from the third-party, the vendor needs to transfer the domain into west.xyz within 10 days and make the final confirmation after auction. The vendor has to pay liquidated damages, provided that he refused to deal or the domain is not in his account at the end of acknowledging time. The liquidated damages are equal to relevant security deposit, with 50% paid to the buyer.
If there is no enough balance to pay, then the system will suspend the vendor¡¯s account and return relevant fund to buyer (without liquidated damages).
The buyer is supposed to confirm within 12 days and pay the balance when confirms.
If no action is taken within 12 days, west.xyz will deduct the auction fee from the winner's account without early notice.
If no action is taken within 12 days, and there's no enough balance in the winner's account, west.xyz will consider the winner no long wants the auction and the security deposit (50% compensating to the vendor) will not be returned.
As for confirm extension, both the vendor and buyer can apply for two times (renewal 1 to 7 days/per time) at most. The time postpones only in the case that the other side agrees with the extension application.

08 About Deal and Domain Transfer

The domain will be transferred to the winner once both sides complete confirmation. The winner can make use of domain template to modify whois information freely.

09 About Expired Domain Auction

1. The definition of expired domain auction
The Original registrar is west.xyz and the domain has been expired for more than 30 days without renewal from the original owner. Other users can order and bid for the domain during 31st day to 33rd day. Once the domain ordered, the auction process begins and will ends at random time during 19:00 to 23:00 on the 33rd day.

2. About Default
The winner needs to pay all the auction fee in the same day as the ending of auction in order to avoid the domain deletion from registry.
The winner needs to pay all the auction fee within 72 hours after the auction is ended.
If no action is taken within 72 hours, and there's no enough balance on the winner's account, west.xyz will consider the winner no long wants the auction and the security deposit will not be returned.
For any programming failure or unexpected networking problem, which may cause the payment failure, west.xyz will only unblock all reservations and security deposits of users without any other compensation.

3. About domain dispute and related restrictions
To avoid the dispute, the domain is not allowed to transfer/push/sell after the successful expired domain transaction within 45 days.
If the original owner of domain asks for redemption within 45 days, the system will return domain to the owner and refund the auction fee to buyer, also pay 50% of security deposit(¡ÜCNY800) to buyer as compensation.
Attention: .cc will directly return to the original owner without any compensation to the buyer.

4. About domain ownership transfer
The domain will transfer to the winning directly with one-year auto-renewal. (The auction fee includes one-year renewal fee.)
After the transaction, the winner can update whois information by means of domain template freely.