Auction Terms and Conditions

Introduction

These Auction Terms and Conditions govern the participation in and conduct of auctions conducted by [Your Auction Company Name], hereinafter referred to as the "Auctioneer." By participating in any auction conducted by the Auctioneer, all participants, hereinafter referred to as "Bidders," agree to be bound by these Terms.

1. Registration

1.1. Bidders and auctioneers must register on Ci Auction platform before participating in any auction. Registration may require providing valid identification and contact information and making a fee payment before accessing items to be sold.
1.2. CI Auction admin upon verifying the auctioned item can deny or accept the item before it is displaced to the public. This is to avoid illegal or prohibited sale of items.

2. Bidding

2.1. Bids may only be placed by registered Bidders.
2.2. Bidders agree that placing a bid constitutes a legally binding contract to purchase the item if they are the highest bidder.
2.3. Bids shall be made in accordance with the specified bid increments.
2.4. Bidders that place exorbitant bid amounts for items and do not pay for them, will automatically lose all bids made during that auction item

3. Reserve Price

3.1. Some items may have a reserve price, which is the minimum amount that must be met for the item to be sold.

4. Buyer's Premium

4.1. A buyer's premium will be added to the final bid price. The amount of the buyer's premium will be specified for each auction.

5. Payment

5.1. Payments of won items must be made to CI Auction to protect both the bidder and auctioneer.
5.2. Bidders must provide valid means of identification to show they are the winners of the bid before payment is accepted.
5.3. Payment must be made in accordance with the specified payment terms, including acceptable payment methods.
5.4. Failure to make payment within the specified timeframe will automatically nullify the winner position and shift to next highest bidder.
5.5. A 10% service fee on the final price will be given to CI Auction for using its platform.

6. Seller's Obligations

6.1 Sellers must provide accurate information about the items being auctioned.
6.2 Sellers are not responsible for delivering the items to the winning bidders

7. Buyer's Responsibility

7.1. The winning Bidder is responsible for taking possession of the purchased item within a specified time frame.
7.2. Any costs associated with removal, transportation, or storage of items are the responsibility of the Buyer.

8. Auctioneer's Discretion

8.1. The Auctioneer reserves the right to:
I. Refuse any bid but at a 2% cost of the item sold.
II. Withdraw any item from the auction before the auction starts.

9. Inspection and Warranties

9.1. Bidders are encouraged to inspect items before bidding.
9.2. All items are sold "as is" without warranties or guarantees, except as expressly stated by the Auctioneer.

10. Withdrawal of Lots

10.1. The Auctioneer may withdraw any lot from the auction before bidding starts, for any reason.

11. Dispute Resolution

11.1. Any disputes arising from the auction between buyers and sellers shall be resolved in accordance with the dispute resolution procedures specified by the CI Auction or through [arbitration/litigation/other dispute resolution method].

12. Governing Law

12.1. These Terms are governed by and construed in accordance with the laws of [Your Jurisdiction].

13. Entire Agreement

13.1. These Terms constitute the entire agreement between the Auctioneer and Bidders and supersede all prior agreements and understandings.

By participating in the auction, Bidders acknowledge that they have read, understood, and agreed to these Terms and Conditions.

[I Agree to the terms and Conditions]