Bharatiya Auction is an online auction house that allows you to bid on your favourite luxury goods and property in the comfort of your home. These rules and guidelines apply to all online bidding at auction sales and are applicable to bidders and buyers. By registering to participate in any bid, you expressly agree to these terms and conditions.
These terms and conditions shall be supplementary to the general Conditions of Sale and other Bid Conditions and shall be deemed incorporated by reference and made a part of the Bid Conditions for such sale.
Additional information may be updated on our website from time to time and it is your responsibility to review that information. In registering to bid at any Sale, you agree to applicable Bid Conditions.
Definitions
E-Auction: E-auction are negotiations conducted via an online platform and are considered the most transparent way of conducting negotiations.
Seller: These may be individuals, companies, Banks, NBFCs or any other such entities who intend to avail the services of Bharatiya Auction for the purpose of auctioning off their products. For the purposes of this platform, the sellers are the entities who have duly signed Selling Entity Agreement with Bharatiya Auction. They are subject to other specific terms and conditions applicable to them.
Bidder: Anyone be a company or an individual wishing to bid in the online auction on the platform can register themselves as bidder. They are subject to the terms and conditions as applicable to them.
EMD: Earnest Money Deposit is the amount to be paid by users willing to participate in any auction on the platform which demonstrates their commitment to purchase a particular property or product.
Reserve Price: This is the minimum amount the seller is willing to accept for any particular product or property. The seller puts reserve price for every item they post before starting an auction.
Eligibility for Participation
Our services are available only to individuals who can enter into legally binding contracts under applicable laws. Without limiting the foregoing, our services are not available to minors. If you are a minor, you may use our services only in conjunction with your parent or legal guardian. If you do not qualify, please do not use our services. Further, your account and user ID may not be transferred or sold to another party. If you are registering as a business entity, you represent that you have the authority to bind such entity to this agreement.
Seller:
To be eligible, the sellers will have to sign the Selling Entity Agreement with Bharatiya Auction and shall fulfil the conditions mentioned therein.
Bidder:
Only those users who are registered with Bharatiya Auction as a buyer shall be eligible to participate in the auctions.
To participate in any specific auction, the bidders will be required to pay EMD and fulfil the Bid Conditions for the Sale.
How to Participate
To bid in an auction on this platform, you’ll have to be a registered buyer.
Registration Process:
Log into the Bharatiya Auction Website and click the button for registering. After filling the required details, your contact details and ID proofs shall be verified.
Upon verification, your User ID and password shall be generated using which you can log in into your account and participate in the bidding process.
You may also choose to become a member with Bharatiya Auction for privileged access to the process. This shall entail a membership fee and specific terms and conditions as notified when you apply for the same.
Auction Process:
To participate in any bidding process, you are required to pay EMD which may be a certain percentage of the Reserve Price and will depend on the bid conditions for specific products.
After the payment is made, you will be allowed to bid.
There is no limit on the number of bids you can make on the product as long as the auction is active. Your bid will be accepted if it is greater than the current highest bid.
The minimum additional amount you’re required to add on the previous bid (“bid increment”) shall be specified for the particular auction and will be notified on the website.
Once you place a bid on the auction item page, you cannot cancel the bid. Please be very careful whether you are willing to bid or have sufficient funds to purchase the item in case you win the bid.
The page will show the highest bid through which you may know if your bid was highest. This does not mean that you won the auction, only that your bid is currently the highest bid. To win, the auction must close without any higher bids. If a bid higher than yours appears on the page, you’ll have to re-bid.
The winner shall be informed via email address they have submitted on their User ID. The winner shall not be automatically sold the product but initially have to be verified as per the requirements of bid conditions. Once the platform verifies and confirms the sale, the buyer can proceed to pay the remaining balance (amount after reducing EMD from the final bid).
In case of unsuccessful bid, your EMD shall be refunded to your wallet on the Bharatiya Auction website which can be used for future payments on the website or shall be refunded to the bank account from which the payment was made if you choose to do so.
If a bidder backs out after becoming the successful bidder, the login credentials of the user shall be deactivated and they shall not be allowed to take part in any other auction in future. The EMD submitted by the bidder in default shall be forfeited and remitted to the seller after deduction of proportionate service charges.
The actual contract between Bharatiya Auction and the buyer shall be deemed to have been concluded only after the Acceptance Letter/Sale Order with Digital Signature/Ink Signature has been issued.
Delivery
Delivery Order shall be issued automatically online at the instance of any competent person on confirmation of payment of full sale value. This includes payment of material value, duties and all taxes and any other levies as applicable.
After making the payment, the seller shall deliver your product to you within maximum 14 days (in case of Domestic deliveries) and maximum of 30 days (International deliveries) from the date of payment.
This timeline is subject to any force majeure event.
The goods shall be and remain in every aspect at the risk of the buyer from the date of issuance of delivery order by the Seller who shall have no liability whatsoever for the safe custody or preservation thereof.
Membership
The terms and conditions for members shall be notified to members when they show interest in choosing so. You can choose to become a member by choosing to register as a member on the website.
The users can become a member after paying certain membership fees through online payment gateway.
The members will have privileged access to certain auctions, discounts in EMD, participation in live auctions and other benefits which are revised on a timely basis.
Grievance Redressal
In case of any grievances related to product, delivery, bids, payment or technical aspects, etc., you can submit your queries or complaints through the Help page on the website.
Further, you may also reach out to us through our social media handles.
Your complaints shall be resolved within 90 days after your grievance has been registered.
Payment Terms
The bid value together with all taxes as applicable shall have to be paid by the successful bidder as stipulated in the relevant provisions of special terms and conditions.
If it is not paid within the time limits as stipulated in the bid document, it may be paid within such time limit as may be extended by the Seller or Bhartiya Auction in consultation with Seller, together with late payment charge. Such late payment charge shall be charged as per the bid document.
In case of further delay, the bidder shall be deemed to have defaulted and their account shall be deactivated. They won't be allowed to participate in any future auctions and their EMD shall be forfeited.
The payment shall be made through online mode - payment gateway associated with Bharatiya Auction or as specified in the Bid Conditions.
The payment can also be made through e-rupee.
Non-compliance
Non-compliance of any of the terms and conditions of Bharatiya Auction will lead to deactivation of the user’s account.
If the user desires to re-activate it, they may select the appropriate option on the Help page.
Such requests shall be examined by Bharatiya Auction, keeping in view of the issue, past record of the buyer, recommendation of seller or other relevant factors.
Based on such considerations, Bharatiya Auction may either reject the requests or levy a re-activation fees on the basis of above parameters.
On receipt of such fees, the User’s account shall be reactivated on such terms and conditions as Bharatiya Auction may deem fit. Bharatiya Auction’s decision shall be final and binding on the user.