Sealed Bid Auction Process
Funding Innovation’s Art Easel Program (the “Program”) is sponsored and conducted by BGC Funding Innovation Inc. (the “Sponsor”) and is open to all persons who meet the eligibility requirements set forth below (each a “Bidder”).
Bidding will be open for a period of fourteen (14) days, (the “Bidding Period”) and each easel will clearly indicate the last day on which bidding will cease on the featured print (the “Bid Close Date”).
In order to participate in the Sealed Bid Auction, the Bidder must satisfy the following eligibility requirements:
- Hold a valid credit card, debit card or PayPal account in their name to bid on and purchase the featured print;
- Must make a minimum bid of two hundred dollars ($200.00 CDN);
- Complete each of the required fields contained on the Sealed Bid Auction Form;
- Be a legal resident of Canada; and
- Be a minimum of twenty-one (21) years of age at the time of their bid.
HOW TO BID
The Bidder must complete the Sealed Bid Auction Form in full and place the completed Sealed Bid Auction Form in the “bid box” contained within the art easel prior to the Bid Close Date. The person with the highest successful bid (the “Successful Bidder”) must validate their bid once they are contacted by the Sponsor. In order for the bid to be validated, the Sealed Bid Auction Form must be filled out with the Bidders full name, address, phone number (both day and night, if applicable), email address and the bid amount (in Canadian Dollars). The Bidder agrees to pay for the featured print, plus applicable taxes and shipping charge (Average $25.00 Canadian Dollars) should they be selected as the Successful Bidder. Each Sealed Bid Auction Form must be duly signed by the Bidder to be valid.
There is one (1) featured print available to bid on per Bidding Period and it is featured on the easel. The approximate fair market value of the featured print is on average between three hundred to five hundred dollars ($300.00 to $500.00 Canadian Dollars). The featured print, in any given Bidding Period, may consist of a traditional art, sport or music memorabilia print. The poster board that accompanies each featured print shall indicate a portion of the proceeds will be donated to Jumpstart.
AWARDING THE PRINT
There will be one (1) Successful Bidder from all verified Sealed Bid Auction Forms received during the Bidding Period. On the Bid Close Date, the Sponsor’s Fundraising Consultants will collect the submitted Sealed Bid Auction Forms and submit them electronically to the Sponsor’s head office located in Burlington, Ontario. Collected Sealed Bid Auction Forms are then ranked from the highest bid to the lowest bid for the featured print. The Successful Bidder will be selected by an employee of the Sponsor within five (5) days of the Bid Close Date in Burlington, Ontario. The Successful Bidder will receive three (3) calls and one (1) email to advise them that their bid was the highest. If the Successful Bidder does not respond to the three (3) calls and one (1) email their bid is destroyed and the Bidder with the next highest bid will be selected as the Successful Bidder and will be contacted in the same manner. In addition, the Sponsor will contact the unsuccessful bidders by phone or email and notify them their bid was unsuccessful, thank them for participating and encourage their future participation at the easels on a later date.
The Sponsor will process the purchase of the featured print via debit card, credit card or via a paypal account for the bid amount, plus applicable taxes and a twenty five dollar (Average $25.00 Canadian Dollars shipping charge for delivery anywhere in Canada). The Successful Bidder will receive the featured print within seven (7) to fourteen (14) business days of being notified they are the Successful Bidder.
When available, multiple pictures will be sold. Sometimes an easel and item might not get any bids. If that happens, we look to another easel with the same item is support of Jumpstart to hopefully find a home for the item and raise as much money as possible.
ODDS OF WINNING
The odds of winning the featured print is dependent upon the total number of eligible Sealed Bid Auction Forms received.
The featured print cannot be transferred, exchanged, substituted, or redeemed for cash. If the information contained within the Sealed Bid Auction Form is wrong or not complete, the bid is destroyed and the Bidder forfeits their entry.
CONDITIONS OF PARTICIPATION
By participating in this Program, the Bidder agrees:
a) to be bound by these Program Rules and the decisions of the Sponsor, which decisions shall be final and binding;
b) that, by participating in the Program, the Bidder releases BGC Funding Innovation Inc., Canadian Tire Jumpstart Charities, Canadian Tire Corporation, Limited, Canadian Tire Associate Dealers and each of their affiliates and respective directors, officers, employees, parent companies, subsidiaries, affiliates, suppliers, sponsors and agents from any liability for loss, harm, damages, costs and/or expenses, arising out of or in any way connected with participation in this Program, participation in any Program related activity, the awarding of the featured print, the use of personal information as aforementioned, or the acceptance, use or misuse of the featured print, including, without limitation, loss, harm, damages, costs and/or expenses related to personal injuries, death, damage to, loss or destruction of property, rights of publicity or privacy, defamation, or portrayal in a false light, or from any and all claims of third parties arising there from;
c) that the Sponsor is not responsible for lost, incomplete, illegible, late, misdirected, stolen, or mutilated Sealed Bid Auction Forms; any error, omission, interruption, defect or delay in transmission or communication; technical or mechanical malfunctions; failures or malfunctions of phones, phone lines, or telephone systems; interrupted or unavailable cable or satellite systems; errors in these rules, in any Program related advertisements or other materials; failures of electronic equipment, computer hardware or software; or inaccurate Bidder information, whether caused by equipment, programming used in this Program, human processing error, or otherwise.
All Sealed Bid Auction Forms are the property of the Sponsor. These are the Sealed Bid Auction Rules. These Sealed Bid Auction Rules are subject to change without notice. The Sponsor reserves the right to cancel, suspend or terminate all or any portion of this Program at any time for any reason without prior notice.