Placing Affiliates on Hold/Review is a tool Equip-Bid uses for all new Affiliates, to ensure they are not having issues with auctions.
Equip-Bid also uses the Hold/Review Status, which is when there are compliance concerns or questions relating to an Affiliate business practice.
During the time the Affiliate is on Hold/Review, no further auctions can be posted.
Examples of issues that could result in an Affiliate being place on Hold/Review:
- Failure to make timely payments to consignors.
- Failure to close out invoices within 6-day time allotment.
- Failure to submit documentation or other requested items to Equipment by the deadline requested.
- Invoiced payments for monthly fees and/or buyer’s premium are returned for non-payment resulting in a balance due.
- Auction issues, such as images not appearing, lot descriptions, etc.