Designations The auction process Purchase and delivery of the auctioned item Response SMS message options BIMBASO credit Confidentiality conditions Restrictions on participation in auctions Extension of the auction deadline, cancellation of the auction Privacy staement Limit on liability

CONDITIONS

Designations

BIMBASO is an auction for the lowest unique price (the lowest unique bid) organized by “MRC” Ltd.

The organizer of BIMBASO is the limited liability company “MRC”.

The auctioned item is a good or service offered by by the organizer BIMBASO for the lowest unique price, and which becomes the property of one auction participant.

An auction participant is a person who participates in auctions for one or several auctioned items. Restrictions on participation in auctions are set out in the section ‘Restrictions on participation in auctions’.

The bidded price is one price bidded by an auction participant for the auctioned item. A participant may bid several prices in an auction. The minimum permitted bid price is one euro cent. The minimum bidded price may only be a whole number (in euro cents), not a fraction.

The auction period is the period between the date and time from which bidded princes for the auctioned item are accepted until the date and time bidded princes for the auctioned item are no longer accepted.

The lowest unique price is the price bidded by an auction participant which is the lowest and which has not been bidded by another auction participant during the auction period.

The Residual value of the item is the price to be paid by the auction winner together with the lowest unique price for purchase of the auction object. Two types of auctions exist: auctions without residual value of the object and auctions with it (in this case both the auction data and the residual value of the object are revealed). During auctions with initial residual value of the object such value may reach zero with the bid increment not exceeding 5 % depending on the number of bids made by the auction participants.

The participation fee is a payment for participation in BIMBASO auctions which must be paid by the auction participant for each bidded price. The participation fee is stated in euros and/or in the national currency. Auction participants must pay for participating in BIMBASO auctions in the national currency. Participation in BIMBASO auctions is via paid SMS and/or BIMBASO credit (see the BIMBASO credit section).

A paid SMS is a message charged at a higher rate, which must be sent to the indicated mobile network operator's service number. Information about the cost of SMS messages and available mobile operators is indicated seperately for each auctioned item.

The auctioned item code word is a letter and/or number combination which must be sent in the paid SMS together with the bidded price when participating in the auctioning of an item. An example of using an auctioned item's code word is given in the description of the auctioned item.

The auction winner is the auction participant, whose bid at the end of the auction term is the lowest unique price, and such participant acquires the right to purchase the auction object for the lowest unique price by concluding the purchase agreement with the organizer of BIMBASO. The auction winner in the auction with residual value of the object acquires the right to purchase the auction object for the lowest unique price + the residual value of object after the end of the auction.

The auction process

Information about auctioned items shall be posted on the BIMBASO website. The following information about auctioned items is available: the name of the auctioned item, description of the auctioned item, the auction period, the auctioned item's code word, the participation fee, procedures for sending SMS messages. Auction participants take part in auctions by offering their bidded prices (by sending a paid SMS or using BIMBASO credit). Upon receiving the bidded prices, the organizer of BIMBASO shall inform the auction participants of the status of the bidded price. Information about the status of the bidded prices can be found in the section ‘For participants’ on the BIMBASO website, and in the course of an auction participants can receive informative messages about changes to the status of bidded prices. See the section “Response SMS message options” for a description of the status of messages sent by SMS to participants. After the end of the auction period, bidded prices will no longer be received and the auction winner will be declared as the person who has submitted the lowest unique price at the end of the auction. In cases where there is no single lowest unique price, no participant shall win the right to purchase the auctioned item and the auctioned item will be auctioned again in a subsequent auction.

Purchase and delivery of the auctioned item

The organizer of BIMBASO shall contact the auction winner one workday after the end of the auction via the auction winner's phone number. The auction winner acquires right within one month after the end of the auction term to purchase the auction object for the bid price or the bid price + the residual value of object if it is the auction with the initial residual value. The organizer of BIMBASO shall ensure that the auction winner receives the auctioned item not later than 30 calendar days after contacting the auction winner. In standard cases, the organizer of BIMBASO shall ensure that the auctioned item is available to the auction winner in the offices of the BIMBASO organizer on the next workday afer the auction. After the invoice is paid, the auctioned item may be collected at the offices of the BIMBASO organizer (2-308 Citadeles iela, Riga, LV-1010, Latvia), or if the auction winner wishes by post only within the European Union, with the country of delivery being determined from the country code in the winner's phone number). In special cases there may be special collection/delivery conditions for auctioned items, which will be set out in the description of the auctioned item. In special cases, depending on the mobile network operator BIMBASO reserves the right to delay delivery of the auctioned item until the auction winner has paid for the SMS messages he/she has sent (i.e. has paid the mobile network operator’s bill). In the event that the organizer of BIMBASO is unable to contact the auction winner within 30 days of the end of the auction (using the winner's phone number), or if the auction winner declines to purchase the auctioned item for the bidded price, the auction winner shall forfeit the right to purchase the auctioned item.

Response SMS message options

After sending the bid price, the auction participant will receive one of the following SMS messages:

1: 'The bidded price (XX eurocents) is not unique'.
2: 'The bidded price (XX eurocents) is currently unique, but is not the lowest'.
3: 'The bidded price (XX eurocents) is currently the lowest unique price'.
4: 'SMS message wrongly composed'.
5: 'This auction is not currently taking place'.
6: 'You have already sent this bidded price'.
7: 'Attention, you may not take part in the auction if you have won a bimbaso auction on one or more previous occasions!'.

In the course of the auction the participant may additionally receive one of the following messages informing him/her of changes to the status of the bidded price:

8: ‘The bidded price (XX eurocents) is no longer the lowest unique price, but is unique.’
9: ‘The bidded price (XX eurocents) is no longer the lowest unique price and is not unique’.
10: 'The bidded price (XX eurocents) is currently the lowest unique price'.
11: 'The bidded price (XX eurocents) is no longer unique'.

To identify the auctioned item, the code word for the auctioned item will be sent with the answering message. Money will not be refunded for incorrectly composed messages (paragraphs 4, 5, 6 and 7).

In the event that an auction participant takes part in an auction using BIMBASO credit, the status of the bidded price can be seen in the section “For participants,” and he/she will only be sent answering SMS messages regarding changes to the status of the bidded price.

BIMBASO credit

BIMBASO credit allows you to take part in an auction using the BIMBASO Internet site (from the section ‘For participants’), rather than via a paid SMS. Credit can be purchased in the section ‘For participants’ using a payment card (for a list of payment card types that can be used to settle accounts on the BIMBASO site, see the section ‘For participants’) or through Internet banking (for a list of Internet banks through which clients can settle accounts on the BIMBASO website, see the section ‘For participants’). BIMBASO credit can only be used in BIMBASO auctions. BIMBASO will not refund money for purchased but unused credit. In special cases BIMBASO the organizer of BIMBASO reserves the right to give credit to auction participants free of charge (for example to the most active participant of the month).

Confidentiality conditions

The organizer of BIMBASO undertakes not to disclose the mobile numbers of auction participants to third parties. By taking part in a BIMBASO auction, the auction participant agrees that after the end of the auction BIMBASO may send the auction participant one SMS containing additional information about the organizer of BIMBASO and/or the organizer of BIMBASO’s partners.

Restrictions on participation in auctions

1) Employees of the organizer of BIMBASO or the partners of the organizer of BIMBASO are prohibited from taking part in auctions.

2) Persons under 18 years of age are prohibited from taking part in BIMBASO auctions.

3) A single auction participant may not win more than two BIMBASO auctions per day (one day being the period of 24 hours from 00:00 to 24:00). In the event that an auction participant breaches these restrictions, the organizer of BIMBASO reserves the right to annul the prices bidded by this auction participant, review the auction results and declare a new winner of the auction. The money paid for annulled bidded prices will not be refunded.

4) The organizer of BIMBASO reserves the right to hold special auctions in which participation is barred for persons who have previously won any BIMBASO auction. If an auction is subject to such restrictions, this information will be included in the description of the auctioned item. In the event that a previous BIMBASO winner does participate in and win such an auction (including through third parties), the organizer of BIMBASO reserves the right to annul the prices bidded by this participant, review the auction results and declare a new auction winner. Money paid for annulled bidded prices shall not be refunded.

5) The organizer of BIMBASO reserves the right to hold special auctions in which participation is barred for persons who have previously won more than three BIMBASO auctions. If however a person who has previously won 3 BIMBASO auctions does take part in such an auction (including through third parties), the organizer of BIMBASO reserves the right to annul the princes bidded by this auction participant, review the results of the auction and declare a new auction winner. Money paid in for annulled bidded princes shall not be refunded.

6) The organizer of BIMBASO reserves the right to bar an auction participant from BIMBASO auctions. A bar on participating may be imposed if the organizer of BIMBASO suspects that the auction participant is breaching these Rules, trying to hack into the organizer of BIMBASO’s computer system or is performing similar breaches. In special cases the organizer of BIMBASO reserves the right to bar an auction participant without given a reason for the prohibition. An auction participant that the organizer of BIMBASO has barred from taking part in an auction shall be barred from all BIMBASO auctions. Money paid for annulled bidded prices shall not be refunded.

Extension of the auction deadline, cancellation of the auction

In the event that due to a technical problem the organizer of BIMBASO’s computer system is disrupted or access to the BIMBASO website is hindered, BIMBASO reserves the right to extend the auction period or in special cases to cancel the auction. The organizers of BIMBASO reserve the right to cancel an auction if they believe that a BIMBASO auction is being disrupted due to fraud or any other reason. In the event of the cancellation of an auction, each participant in the canceled auction shall be compensated with BIMBASO credit to the value of the auction participation fee. However, in the event of the auction being cancelled, the organizer of BIMBASO reserves the right not to compensate specific persons who the organizer of BIMBASO suspects of fraud or disrupting the auction with BIMBASO credit to the value of the auction participation fee.

Privacy staement

By providing us ("MRC"Ltd., 2 – 308 Citadeles iela, Riga, LV-1010, Latvia) with your personal data, you agree to this data being processed in accordance with the Republic of Latvia Physical Persons Data Protection Law, in order to make your participation in BIMBASO auctions possible.

Limit on liability

The organizer of BIMBASO shall not be held responsible for any direct or indirect losses incurred or that may be incurred in connection with processing bidded prices or errors in the software of the organizer of BIMBASO, including (but not only) losses suffered due to problems with a mobile operator’s network, or Internet, computer or other technical malfunctions, disruptions to the power supply, fires, floods, storms, explosions or any other Force Majeure circumstances. The organizers of BIMBASO are under no obligation to compensate such losses incurred by auction participants.