Terms of Service
Welcome to NameGulf.com, the online Domain Marketplace operated by NAMEGULF LLC (hereinafter referred to as "NAMEGULF"). By using NameGulf.com, you agree to be bound by these Terms of Service (the "Terms"). These Terms govern your use of the NameGulf.com website (the "Website") and the services provided by NAMEGULF, which facilitate the purchase and lease of domain names between buyers and sellers (collectively, "Participants"). Please read these Terms carefully before using the Website.
2. Age Requirement
Participants must be at least 18 years of age to use NameGulf.com and its services.
3. Transaction Process
Through NameGulf.com, buyers and sellers can complete transactions with the assistance of NAMEGULF. However, it is important to note that any purchase agreement for a domain is entered solely between the buyer and seller. NAMEGULF's involvement after the conclusion of the Purchase Agreement or Lease Agreement is limited to charging a fee for services rendered, or as otherwise agreed upon by all parties.
4. Seller's Listing
Sellers may list domains for sale on the NameGulf.com marketplace.
5. Seller Fees
Sellers are required to pay a fee, also known as a success fee, which is a percentage of the sale price. The specific fee percentage is listed on the NameGulf.com homepage.
6. Buyer's Purchase
Buyers may purchase domains listed on the marketplace. A "Buy Now" (BIN) transaction refers to the acceptance of a price agreed upon between the buyer and seller for the sale of the domain.
7. Lease to Own (LTO)
"Lease to Own" (LTO) transactions allow buyers to lease and use a domain for an agreed-upon time period. The following terms apply to LTO transactions:
- Payment in Installments: Buyers agree to make payments in installments over the agreed period of time as specified in the LTO agreement.
- LTO Start: LTO only commences after the buyer has made the first installment payment as agreed upon between the buyer and seller.
- Domain Control: During the LTO period, the domain remains under the control of the NameGulf marketplace.
- First Installment Payment: Upon the buyer's payment of the first installment, the buyer gains usage rights but not ownership rights to the domain. The marketplace may provide services to configure DNS settings or forward the domain to a website.
- Usage Restrictions: The buyer agrees to use the domain name in a manner that does not harm its value and in compliance with all applicable laws and regulations.
- Ownership Transfer: Upon completion of all agreed installment payments, including the final payment, domain ownership is transferred to the buyer.
- Non-Payment Event: In the event of non-payment by the buyer, the domain reverts to the seller, and any payments already made, minus commissions and possibly fees, are retained by the seller.
These Terms of Service are governed by the laws of the state of Washington, USA, and any disputes arising from or related to these Terms shall be subject to the exclusive jurisdiction of the courts located in Washington State.
9. Contact Information
If you have any questions or concerns regarding these Terms of Service or your use of NameGulf.com, please contact us at [email protected].
By using NameGulf.com, you acknowledge that you have read, understood, and agreed to these Terms of Service. If you do not agree with any part of these Terms, please do not use the Website or its services. NAMEGULF reserves the right to modify these Terms at any time, and it is your responsibility to review them periodically for updates or changes. Your continued use of NameGulf.com after any modifications to these Terms indicates your acceptance of the modified Terms.