As we just wrote Namejet.com updated their Terms and Conditions last week and I took the opportunity to read through them
I’m not sure what parts of the TOS changed (other than the addition of the Advanced Auction rules on new gTLD’s) but found this section particularly interesting:
3. NameJet is a Venue.
3.1 NameJet is not an Auctioneer.
Although we state that the Site includes online auctions, it is important to realize that we are not a traditional “auctioneer.” Instead, the Site acts as a venue to allow parties to offer, sell, buy and register domain names, at anytime, from anywhere, in a variety of pricing formats, including a fixed price format and an auction-style format commonly referred to as “online auctions” or “auctions.”
We cannot ensure that a buyer or seller will actually complete a transaction.
Consequently, we do not transfer legal ownership of domain names from the seller to the buyer.
Also we do not and cannot guarantee the acquisition of any domain name through our auction process.
There is also no guarantee that one of our registrar partners, on its fully-automated Web site, will not facilitate the registration of the name you want by someone else who applies through the registrar’s own Web site interface.
3.2 Fixed Price Marketplace.
We also offer you the availability to register domain names at a fixed price from the Site.
3.3 Identity Verification. We attempt to verify the accuracy of the information our users provide us when they register on our Site. Some bids may require you to enter our Verified Bidder Program however, NameJet does not confirm or guarantee any users purported identity.
You agree that you assume all risk when transacting business with other users using our system.
3.4 Waiver in the Event of Dispute. Because we are only a venue for auctions to occur, we do not check to see whether the domain name you bid on to register infringes the legal rights of others.
We urge you to investigate to see whether the domain name you select or its use infringes legal rights of others.
We will not investigate any trademark claim nor provide you with any notice that we have received such a claim from any third party.
You should seek one or more opinions from competent trademark practitioners in connection with any domain name on which you bid.
You agree to assume all responsibility in selecting a domain name to register and/or monitor.…
