Glossary of Terms

Bid Increment
The bidding increment is dependent on the current value of the auction and follows the following procedure: All bids are made on a per-item basis. The lowest successful bid plus the bid increment will be displayed as the current minimum bid.

Bidding Quantity
Each auction is for one item unless otherwise specifically stated.

Buy Now
Auctions that offer a "Buy Now" option allow you to buy the items without waiting for the auction to end. These items are sold at a fixed "Buy Now" price. If an entire quantity has been depleted through "Buy Now's," the auction will close.

Fraudulent Activities
Fraudulent activities include, but are not limited to, inaccurate, incomplete or unverifiable information, information which is deemed to have been given in bad faith, use of false names, false credit cards, or any other information deemed to be fraudulent by Mikekandu.com, civil authorities, or other law enforcement agencies.

Minimum Bid Price
The minimum price is the lowest value that can conceivably result in a winning bid. However in "Reserve Price" auctions, if the minimum bid price does not meet the Reserve Price, it will not be a winning bid.

Proxy Bidding
"Proxy Bidding" is a feature found in most auction programs which incrementally increases an individual's bid up to a maximum amount previously set by the buyer. No one outside the buyer and the software have any idea what this confidential figure amounts too.

By selecting the "Proxy Bidding" feature, the Mikekandu.com software automatically increments a buyer's bid to surpass bids made by others. Once a "Proxy Bidder's" maximum has been reached, the "Proxy Bidder" receives an email notification. "Proxy Bidding" saves time by not requiring bidders to constantly revisit the site in order to "keep ahead of the pack." Instead, the "Proxy Bidder" places a single bid in the "Your Maximum Bid" field.

Warning: If you enter a maximum bid price without a decimal, NorthShoreAuction.com will automatically attach 2 zeros. (Example: 1209 will automatically become 1209.00). So please be careful!

Reserve Price Auctions
A "Reserve Price" auction is one in which the seller has established a minimum amount they will accept for their item. If no bids meet or exceed this minimum, the auction will close unsuccessfully.

User Name
A "User Name" is a unique name used to identify buyers and sellers on Mikekandu.com. Participants must select a "User Name" during the registration process. Just as no two users may have the same email address, no two users may have the same "User Name."