About Us

Rules & Regulations

Terms and Conditions

Introduction

The following Terms of Use, as amended from time to time (the "Terms and Conditions"), explain the contractual agreement between you and Rig Planet, Inc., Inc. ("us", "we" or "Rig Planet, Inc.") regarding your use of our web site (the "Web Site") and our facilitation of your activities and transactions conducted through the Web Site or through other interaction with us (the "Services").


I. GENERAL TERMS

A. Acceptance of Terms.

All users of the Web Site and our Services are required to accept and comply with these Terms of Use. The Web Site is a venue for providers and owners ("Sellers") of services and unused, used, and surplus material and equipment ("Assets") and potential purchasers ("Buyers") of such Assets to exchange Information (as defined in Section III.C.), and to facilitate an electronic marketplace for the Assets. Non-conformance with these Terms of Use may result in the termination of your registration with and your right to use Rig Planet, Inc.'s Services or Web Site.

By registering to use or using this Web Site, or invoicing from Rig Planet Inc. you agree and ratify that you accept all of the terms and conditions of these Terms of Use. If you do not accept all of the terms and conditions of these Terms of Use, then you are not authorized to use any of the services of Rig Planet, Inc..

B. Eligibility.

The Services are available only to duly organized businesses that are in good standing under applicable state laws. The Services are limited to those officers or agents who are authorized to form legally binding contracts under applicable law on behalf of a business, and are not available for consumer use. Rig Planet, Inc. assumes that the individual that reads and determines whether to accept these Terms of Use is an authorized officer or agent acting in such capacity on behalf of the business he or she represents. All references to the term "you" in these Terms of Use refer both to the individual user and the business that the user represents. Rig Planet, Inc. may refuse the Services to anyone or any entity at any time, in our sole discretion.

C. Registration, User ID and Password.

All users are encouraged to register. Some Rig Planet, Inc. services are not available without registration. If your registration application is approved, Rig Planet, Inc. will notify you and your user ID and password will be activated. You may only use each user ID and password on behalf of the business that you represent, as indicated on the applicable registration application. You will be responsible for the confidentiality and use of your user ID and password, and you will be held solely responsible for all communications made through the Web Site using your user ID and password. You must immediately notify Rig Planet, Inc. if you become aware of any loss or theft of your password or any unauthorized use of your password, user ID, or of the Web Site. All new International Registrants (excluding Canada and Mexico) must complete the International Registration Form. Approval is pending the credit check and contact information verification, per the Registration Form. All international transactions are subject to applicable trade regulations and embargos including, but not limited to, those administered by the U.S. Departments of Commerce and Treasury. By registering, you consent to have Rig Planet, Inc. send you faxes, emails, brochures, and other advertisements.

D. Transaction Services.

TThe actual purchase and sale transactions between Buyers and Sellers do not occur on the Web Site, and Rig Planet, Inc. is not a party to those transactions. The Web Site enables Buyers and Sellers to buy and sell Assets using the following methods: (1) e-Auctions - the Seller offers to sell the Asset to the Buyer that submits the highest Bid, (2) Equipment Listings - the Seller offers Assets for sale at a price posted on the Web Site, (3) Private Sales - the Seller offers Assets for sale on the Web Site at a posted price or "Ask For Price", (4) Third-Party Listings - Sellers post their own equipment listings on the Web Site and Buyers may contact Sellers directly. (5) Direct supply of equipment from Rig Planet Inc. as a supplier of equipment, where all payments are final. Detailed descriptions of each of these Services and the rules that govern them are set forth under Transaction Rules. From time to time we may update these Terms of Use to reflect additional services or changes to existing services.

E. Bids.

Any Bid may become a Winning Bid in accordance with the Transaction Rules for that type of transaction. Unless explicitly stated otherwise, all Bids are exclusive of all applicable taxes, customs duties and registration fees, shipping, rigging, or other preparation and transportation costs, insurance and escrow fees (if any), Transaction Fees, Buyer's Premium, and any other Rig Planet, Inc. fees. Unless otherwise stated, all bids must be submitted in U.S. Dollars.

F. Information Relating to Assets.

Correct documentation, specification, and other Information relating to Assets are the exclusive responsibility of the users. Although Rig Planet, Inc. encourages users to include as much Information relating to Assets as possible, such Information is not verified or substantiated by Rig Planet, Inc. and we cannot be held responsible in any way for any inaccuracies or omissions in such Information, regardless of its source. Unless the Seller expressly discloses otherwise, Seller will be deemed to represent and warrant that it has good and marketable title to any Asset sold or transferred through the Web Site, free and clear of any lien or other encumbrance (other than statutory liens or other encumbrances arising in connection with Seller's ordinary course of business securing payments not yet due and payable and which will not have a material adverse effect on the Seller's ability to complete the transaction on the agreed-upon terms).


II. RULES

A. Sealed Bids, Listings & Private Sales.

1. Buyers' Duty to Inspect Lot.
Rig Planet, Inc. will post the listins for sale on the Web Site. Each Listing will include the location of the Asset for Sale. All items are listed as accurately as possible; however, all descriptions and representations of items on the Web Site serve as merely a guide, subject to change. Neither Rig Planet, Inc., the Sellers, nor any third party making claims as to the description of items on the website, shall be liable for any errors on the Web Site. All items will be sold 'AS IS, WHERE IS, WITH ALL FAULTS' and without guarantee or warranty of any kind. Buyers are solely responsible for the inspection of all items, and accept such items with any faults or defects.

2. Registration.
All prospective Buyers are encouraged to register. By submitting any information during registration or bidding, the user represents and warrants that all such information is true and accurate, is not fraudulent, does not violate any law, statute, ordinance or regulation, is not defamatory or libelous, and does not contain any information or data that is intended to damage or interfere with any system, data, or information. Buyers' names are to remain confidential. Rig Planet, Inc. reserves the right to refuse a bidder ID and may revoke the Buyers' privileges at any time for any reason.

3. Private Sales.

  • a. Buyer Process.
    Private sales that are managed by Rig Planet, Inc., as agent for Sellers, are posted in the equipment catalog and/or other areas of the Web Site. A Buyer may submit a bid online electronically through the Rig Planet, Inc. Web Site, verbally or in writing. All bids are firm offers to buy which are binding for the equipment listed with no warranties expressed or implied. Upon acceptance of a bid by the Seller, ten (10) percent of the total purchase price is payable by the Buyer within twenty-four (24) hours, and the remainder of the purchase price is payable within ten (10) calendar days of the transaction date. If full payment is not received within ten (10) calendar days, Buyer forfeits the ten (10) percent deposit as liquidated damages for its breach of the contract as well as all rights to the equipment.
  • b. Seller Process.
    Upon receipt of a signed contract, Rig Planet, Inc. will post the information about the equipment in the equipment catalog and/or other parts of the website. Rig Planet, Inc. reserves the right to list equipment without a signed agreement contract as well. Each Seller is solely responsible for checking the Web Site to ensure the information in their listing is correct. Sellers are legally bound by the contract signed at the time of listing the equipment. No equipment shall be listed without a contract.

4. Additional Terms.
Rig Planet, Inc. reserves the right to amend or add to the terms of sale of any equipment listing in the Additional Terms section posted on each equipment lot. The terms posted to each lot when in conflict with the Terms of Use supersede the Terms of Use for only those terms in conflict.

B. Third-Party Listings.

1. Transactions.
Third-party listings are equipment and service listings offered by third parties and are not contracted through Rig Planet, Inc.. We do not hold title, physically possess or handle any of the goods and services listed through third-party listings. We are not involved in the actual transaction between buyers and sellers. As a result, we have no control over the quality, safety or legality of the items advertised, the truth or accuracy of the listings, the ability of Sellers to sell items or the ability of Buyers to buy items. We cannot ensure that a Buyer or Seller will actually complete a transaction.

2. Fees.
When users list an item, users have an opportunity to review and accept the fees that users will be charged for the use of our third-party listing services. We may in our sole discretion change some or all of our services at any time. In the event we introduce a new service, the fees for that service are effective at the launch of the service. Unless otherwise stated, all fees are quoted in U.S. Dollars. Users are responsible for paying all fees associated with using our service and our website and all applicable taxes. Fees are payable using a credit card. Users can safely enter entire credit card numbers via our secure server, which encrypts all submitted information.

3. Information Control.
We do not control the information provided by other users that is made available through third-party listings. However, we reserve the right to edit any listings. Users may find other users' information to be offensive, harmful, inaccurate, or deceptive. Please use caution, common sense, and practice safe trading when using our site. Please note that there are also risks of dealing with people acting under false pretense. Additionally, there may also be risks dealing with international trade and foreign nationals.

4. User Information.
User Information (or any items listed) and user activities on the site shall not: (a) be false, inaccurate or misleading; (b) be fraudulent or involve the sale of counterfeit or stolen items; (c) infringe any third party's copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy; (d) violate any law, statute, ordinance or regulation (including, but not limited to, those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising); (e) be defamatory, trade libelous, unlawfully threatening or unlawfully harassing; (f) be obscene or contain child pornography; (g) contain any viruses, Trojan horses, worms, time bombs, cancelbots, easter eggs or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal information; (h) create liability for us or cause us to lose (in whole or in part) the services of our ISPs or other suppliers; and (i) link directly or indirectly to or include descriptions of goods or services that: (aa) are prohibited under this Agreement; (bb) are concurrently listed for sale on a web site other than Rig Planet, Inc.'s (this does not prevent linking to or advertising a Rig Planet, Inc. item from another web site); or (cc) users do not have a right to link to or include. Furthermore, users may not list any item on the site (or consummate any transaction that was initiated using our service) that, by paying to us the listing fee could cause us to violate any applicable law, statute, ordinance or regulation, or that violates our current terms of use.

Users may not offer any item for sale that they do not have the right to sell. Users listings must be in English, however it may contain words in another language, if necessary, in order to describe the item or service for sale. Rig Planet, Inc. does not allow links that provide an alternative means for sales of any item or service; reference a competitor of Rig Planet, Inc.; attempt to circumvent fees and usage of our site; reference obscene, offensive, or inappropriate material.


III. COVENANTS OF USERS

A. Asset Quality.

Every item is sold 'AS IS, WHERE IS, WITH ALL FAULTS' without warranty or guarantee either written, stated or implied. There are no warranties or guarantees as to year, make, model, serial number, condition or performance. All items are listed as accurately as possible and information is derived from sources deemed reliable. However, Buyer must inspect all items personally and accept with any faults or defects. Buyer in no way holds Rig Planet, Inc. or Seller responsible for any defects, inaccuracies or errors in any way, and releases Rig Planet, Inc., Inc. and Seller from any claims in respect of alleged defects, inaccuracies or errors. All sales and payments made are final.

B. Asset Labeling.

Sellers must provide identification Information related to the Asset for sale (if reasonably available) on the Listing, including serial and model numbers, and manufacturer name. Sellers warrant that such Information is accurate.

C. User Information.

"Information" includes any information you provide to Rig Planet, Inc. or other users during the registration, bid, or listing process, and any other information you provide to or through the Web Site. Rig Planet, Inc. accepts the Information supplied by various Sellers and Buyers, but does not assume responsibility for testing or verifying the accuracy of such Information, and does not endorse or approve of any product, service or other Asset, of any Seller or Buyer. With respect to the Information you supply, you agree that:

  • 1. You are solely responsible for notifying us of any changes to Information provided by you, so that such Information is current, complete, truthful and accurate at all times. Rig Planet, Inc. acts only as a passive conduit for online publication of your Information. Your responsibility includes issuance of all bills of lading and all transportation documents required by the U.S. Department of Transportation, and any other applicable statutes or regulations. Notwithstanding the foregoing, in order to maintain the integrity of the Web Site for the benefit of all of its users and to avoid the harm that may result from the dissemination of statements that are false, malicious, violate the rights of others or are otherwise harmful, Rig Planet, Inc. reserves the right to monitor all Information and to take any action with respect to such Information we deem necessary or appropriate in our sole discretion, including, without limitation, deleting, restricting or suspending access to such Information, at our sole discretion, for any reason whatsoever.
  • 2. You warrant and represent that your Information and the sale or purchase of an Asset(s) on the Web Site or through the Services: (a) will not infringe any third party's copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy; (b) will not violate any law, statute, ordinance or regulation (including without limitation those governing export control, consumer protection, unfair competition, discrimination false advertising, transportation or release of hazardous material, or use of pesticides); (c) will not be defamatory, trade libelous, unlawfully threatening or unlawfully harassing; (d) will not knowingly contain any viruses, Trojan horses, worms, time bombs or other computer programming codes or routines that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal Information; (e) will not link directly to or include descriptions of Assets that: (i) are concurrently listed for sale or requested for purchase anywhere other than the Web Site in a manner that inhibits your ability to fulfill your obligations under these Terms of Use or (ii) you do not have a right to link to or include; and (f) will not be fraudulent or involve the sale of counterfeit or stolen assets. Furthermore, you agree not to claim that by allowing you to post, sell or purchase an Asset on the Web Site, or by charging you a Transaction Fee, Rig Planet, Inc. violated any applicable law, statute, ordinance or regulation.
D. System Integrity.

You agree not to use any device, software or routine to knowingly or intentionally interfere or attempt to interfere with the proper working of the Web Site, any listing being conducted on the Web Site, or our Services. You may not knowingly or intentionally take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or with the intent of disrupting the Web Site. You may not disclose or share your password to any third parties or use your password for any unauthorized purpose.

E. General Compliance with Laws.

You will comply with all applicable laws, statutes, ordinances and regulations regarding your use of the Services and your bidding on, listing, purchase and sale of Assets.


IV. THIRD PARTY DISCLAIMER

A. Links to Third Parties' Sites.

This Web Site may contain links and pointers to sites maintained by third parties. Rig Planet, Inc. does not operate or control, in any respect, any software, hardware, information, products or services received on or through such third-party sites. Third-party links and pointers are included solely for the convenience of users, and do not constitute any endorsement, representation, warranty or guarantee by Rig Planet, Inc. of such third-party sites. You assume sole responsibility and risk for use of such third-party links and pointers.

B. Application Service Providers.

This Web Site may contain pages that are maintained or hosted by third parties, including application service providers (ASPs). Rig Planet, Inc. does not operate or control, in any respect, any software, hardware, information, products or services associated with or received on these pages on the Web Site, and cannot guarantee the privacy or security associated with these pages.


V. INTELLECTUAL PROPERTY

A. Rig Planet, Inc. Property.

The Web Site, its content and all intellectual property included therein (including but not limited to copyrights, trademarks and service marks) are owned or licensed by Rig Planet, Inc., and all right, title and interest therein will remain the property of Rig Planet, Inc. and/or its licensees, successors, and assigns. You also agree not to remove or copy any copyright, trademark or other intellectual property or any proprietary notice or legend contained on the Rig Planet, Inc. Web Site or its content, including the Information.

B. Limited License.

Rig Planet, Inc. hereby grants you a revocable, nontransferable, nonexclusive, worldwide license to use the Services solely for your internal, commercial use, including use by contractors, consultants and other agents that you have authorized to act on your behalf in accordance with these Terms of Use. Without limiting the foregoing or expanding any of your rights hereunder, you agree that you will not republish, reproduce, or distribute any of the Information or make any use of the Information that would allow a third party to have access to the Information or to the Services. In addition, you will be responsible for providing all communication lines, telephone/transmission services and all equipment and technology necessary for you to access and use the Services. The foregoing license has been granted to you subject to your agreement to abide by these Terms of Use as well as with any other rules, procedures, terms, and conditions that may be published or displayed from time to time by Rig Planet, Inc. on the Web Site.

C. User Information.

You enable Rig Planet, Inc. to use your Information, and to prevent violation of any rights you might have in that Information. You agree to grant Rig Planet, Inc. a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, sub-licensable (through multiple tiers) right to use the Information solely in connection with the Services and the Web Site, and at all times subject to these Terms of Use.

D. Copyrights and Copyright Agent.

Rig Planet, Inc. expects its users to respect the intellectual property of others. Rig Planet, Inc. may, in appropriate circumstances and at its discretion, terminate the use of the Web Site and the Services by users who infringe the intellectual property rights of others. If you believe that your work has been copied in a way that constitutes copyright infringement, please provide Rig Planet, Inc.'s Copyright Agent the following information:

  • 1. An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright interest;
  • 2. A description of the copyrighted work that you claim has been infringed;
  • 3. A description of where the material that you claim is infringing is located on the Web Site;
  • 4. Your address, telephone number, and email address;
  • 5. A statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law;
  • 6. A statement by you, made under penalty of perjury, that the above information in your notice is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf.

VI. LIMITATIONS OF Rig Planet Inc's LIABILITY

A. Disclaimers.

YOU AGREE YOUR USE OF THE SERVICES IS ENTIRELY AT YOUR OWN RISK. THE SERVICES ARE PROVIDED, "AS IS," WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTY FOR THE INFORMATION, SERVICES, UNINTERRUPTED ACCESS, OR ASSETS PURCHASED THROUGH OR IN CONNECTION WITH THE SERVICES, INCLUDING WITHOUT LIMITATION INFORMATION ON ASSETS PURCHASED OR SOLD OR INTENDED TO BE PURCHASED OR SOLD BY ANY BUYER OR SELLER BASED, IN ANY PART, ON INFORMATION OBTAINED THROUGH THE SERVICES. ALL SALES AND INVOICING ARE FINAL, NO REFUNDS.

SPECIFICALLY, Rig Planet, Inc. DISCLAIMS ANY AND ALL WARRANTIES, INCLUDING WITHOUT LIMITATION: 1) ANY WARRANTIES CONCERNING THE AVAILABILITY, ACCURACY, OR CONTENT OF THE INFORMATION, ASSETS, OR THE SERVICES; 2) ANY WARRANTIES OF TITLE OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, 3) ANY WARRANTIES CONCERNING THE ABILITY OF A USER TO PROVIDE OR DELIVER ANY PRODUCT, SERVICE OR ASSET OR TO PAY A USER FOR ANY PRODUCT, SERVICE OR ASSET, AND 4) ANY WARRANTIES OF CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO Rig Planet, Inc.'s SERVICES.

THIS DISCLAIMER OF LIABILITY APPLIES TO ANY DAMAGES OR INJURY CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT OR DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, OR UNDER ANY OTHER CAUSE OF ACTION. THIS INCLUDES NO REFUNDS OF TRANSACTIONS, INVOICES, OR DOWNPAYMENTS OF EQUIPMENT OR SERVICES.

Rig Planet, Inc. is committed to protecting the privacy of the users of the Web Site. However, Rig Planet, Inc. cannot guarantee the security of any information you disclose online, and you assume sole and complete risk for using this Web Site. Rig Planet, Inc. is not responsible for the security of any information transmitted via the Internet or any error or delay in transmitting any information over the Internet, including limitations as to authentication and privacy protection measures. You further acknowledge that data or information provided to or by the Web Site may be subject to eavesdropping, sniffing, spoofing, forgery, spamming, "impostering", tampering, breaking passwords, harassment, fraud, electronic trespassing, hacking, nuking, system contamination (including, without limitation, viruses, worms, and Trojan horses) causing unauthorized, damaging or harmful access and/or retrieval of information and data on your computer, may be subject to other security or privacy hazards or may not reach its destination or may reach an erroneous address or recipient.

B. Limitation of Liability.

Our Web Site serves as a venue for Sellers to list and sell Assets and for Buyers to bid for and enter contracts to purchase Assets listed by Sellers. Rig Planet, Inc.'s role in any transaction is limited to providing the services described in the preceding sentence and it is not involved in the actual transaction between Buyers and Sellers. As a result, Rig Planet, Inc. has no control over the quality, safety or legality of the Assets advertised, the truth or accuracy of the listings or other related content, and the ability of Sellers to sell Assets or the ability of Buyers to buy Assets. We cannot and do not control whether Sellers will complete the sale of Assets they offer or whether Buyers will complete the purchase of Assets for which they have bid.

Because we do not and cannot control the actions of users of the Web Site, in the event that you have a dispute with one or more users, you release Rig Planet, Inc. and its employees, agents, successors, officers, directors, assigns and affiliates (collectively, the "Rig Planet, Inc. Affiliates") from any and all claims, demands and damages (actual, consequential and punitive) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes. You waive the provisions of any state law limiting or prohibiting a general release. IF YOU ARE A CALIFORNIA RESIDENT, YOU EXPRESSLY WAIVE CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES THAT: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THIS RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR."

IN NO EVENT WILL Rig Planet, Inc. OR THE Rig Planet, Inc. AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, LOST GOODWILL, OR COSTS OF PROCUREMENT OF SUBSTITUTE PRODUCTS OR SERVICES). IN NO EVENT WILL Rig Planet, Inc.'s LIABILITY AND THE LIABILITY OF THE Rig Planet, Inc. AFFILIATES, ARISING OUT OF OR RELATING TO THESE TERMS OF USE, THE SERVICES OR YOUR USE THEREOF, HOWEVER ARISING, UNDER ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT (INCLUDING WITHOUT LIMITATION NEGLIGENCE AND/OR GROSS NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, EXCEED THE GREATER OF (1) ONE THOUSAND DOLLARS ($1,000) , OR(2) THE TRANSACTION FEE ASSOCIATED WITH THE TRANSACTION IN QUESTION, REGARDLESS OF WHETHER Rig Planet, Inc. OR THE Rig Planet, Inc. AFFILIATES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS, AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY REMEDY. THESE LIMITATIONS APPLY TO ANY THIRD-PARTY CLAIMS AGAINST BUYER OR SELLER. SOME STATES LIMIT DISCLAIMERS OF CERTAIN LIABILITIES, SO CERTAIN OF THESE LIMITATIONS MAY NOT APPLY TO YOU.

C. Indemnification.

YOU WILL INDEMNIFY, DEFEND, AND HOLD HARMLESS RIG PLANET, INC. AND ITS EMPLOYEES, AGENTS, SUCCESSORS, OFFICERS, DIRECTORS AND ASSIGNS, FROM AND AGAINST ANY SUITS, LOSSES, CLAIMS, DEMANDS, LIABILITIES, COSTS AND EXPENSES (INCLUDING ATTORNEY AND ACCOUNTING FEES) ARISING OUT OF OR RELATING TO ANY CLAIM OR ACTION BASED UPON (A) YOUR BREACH OF THESE TERMS OF USE; OR (B) YOUR SALE, DELIVERY, PURCHASE OR USE OF ANY ASSET; PROVIDED THAT RIG PLANET, INC.: (I) PROVIDES YOU WITH PROMPT WRITTEN NOTICE OF SUCH CLAIM; (II) PERMITS YOU TO CONTROL THE DEFENSE AND SETTLEMENT OF SUCH CLAIM; AND (III) DOES NOT ENTER INTO ANY SETTLEMENT OR COMPROMISE OF ANY SUCH CLAIM.


VII. RIGHT TO TERMINATE

A. Rig Planet, Inc. Right to Terminate.

Rig Planet, Inc. reserves the right in its sole discretion to refuse the Services to any user at any time. Further, Rig Planet, Inc. reserves the right to terminate the listing of any Asset at any time with no liability to the Seller or prospective Buyer of such Asset.

WE MAY IMMEDIATELY ISSUE A WARNING, TEMPORARILY SUSPEND, OR TERMINATE YOUR USE AND/OR ACCESS TO THE WEB SITE OR THE SERVICES, AND ANY OF YOUR CURRENT LISTINGS, AND ANY OTHER INFORMATION YOU PLACE ON THE WEB SITE IF YOU BREACH THESE TERMS OF USE OR IF WE ARE UNABLE TO VERIFY OR AUTHENTICATE ANY INFORMATION YOU PROVIDE TO US.

B. Your Right to Terminate.

You may terminate these Terms of Use upon 30 days notice to Rig Planet, Inc.; provided, however, that such termination will not relieve you of any obligations occurring prior to such termination, and immediately upon such termination, you will no longer be authorized to use the Services.


VIII. MISCELLANEOUS

A. No Agency.

You and Rig Planet, Inc. are independent parties, and no agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship is intended or created by these Terms of Use.

B. Privacy.

Our policies with respect to Information and other data concerning users is set forth in our Privacy Statement, which is incorporated by reference to these Terms of Use. By using the Web Site, you consent to the collection and use of Information and other data in accordance with the Privacy Policy and these Terms of Use.

C. Notices.

Except as explicitly stated otherwise, any notices will be sent via e-mail to doc@rigplanet.com (in the case of Rig Planet, Inc.) or to the e-mail address you provide to Rig Planet, Inc. during the registration process (in your case), or such other address specified via e-mail to doc@rigplanet.com. Notice will be deemed given 24 hours after E-mail is sent, unless the sending party is notified that the e-mail address is invalid. Alternatively, we may give you notice by certified mail, postage prepaid and return receipt requested, to the address provided to Rig Planet, Inc. during the registration process. In such case, notice will be deemed given three days after the date of mailing.

D. Arbitration.

Any controversy or claim between you and Rig Planet, Inc. arising out of or relating to these Terms of Use or any transaction related to the same will be settled by binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any such controversy or claim will be arbitrated on an individual basis, and will not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration will be conducted in Houston, Texas before a single arbitrator, and judgment on the arbitration award may be entered into any court having jurisdiction thereof. Either you or Rig Planet, Inc. may seek any interim or preliminary relief from a court of competent jurisdiction in Houston, Texas, necessary to protect the respective property rights pending the completion of arbitration. Both parties submit to jurisdiction in Texas and further agree that any cause of action arising under these Terms of Use will be brought exclusively in any state or federal court located in Houston, Texas.

E. General.

If any provision of these Terms of Use is held to be invalid or unenforceable, such provision will be struck and the remaining provisions will be enforced. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches. These Terms of Use set forth the entire understanding and agreement between you and Rig Planet, Inc. with respect to the subject matter hereof.

F. Governing Law.

These Terms of Use will be governed in all respects by the laws of the State of Texas, without respect to its conflict of law rules.

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