Auction Rules
Rules governing bidding, winning, payment, defaults, prohibited conduct and the AS IS/no-refund condition for BidnBuy auctions.
4.1 Application
These Rules apply whenever a user participates in a BidnBuy auction. By submitting a bid, the bidder agrees to these Auction Rules and the applicable auction listing.
4.2 Eligibility
Bidders must have a valid BidnBuy account and satisfy any eligibility, identity, payment or verification requirements applicable to the auction.
4.3 Review Before Bidding
Bidders are responsible for reviewing the photographs, description, stated condition, specifications, disclosed defects, auction terms, applicable fees and other material listing information before submitting a bid.
4.4 Bids Are Commitments
A bid represents a genuine commitment to purchase the item if the bidder wins. Users must not submit bids they do not intend or are unable to honour.
4.5 Bid Amounts
Bids must satisfy the applicable minimum bid, increment and other auction-specific requirements displayed on BidnBuy.
4.6 Auction Closing
The highest valid qualifying bid at the official close of the auction will normally determine the winner, subject to any applicable reserve, auction rules and system-integrity requirements. BidnBuy's validated system records govern the official auction closing status.
4.7 Reserve Price
Where a reserve applies, an auction may close without a successful sale if the applicable reserve requirement is not satisfied.
4.8 Winning Bidder
The winning bidder must complete payment within the payment window communicated by BidnBuy. The winning bidder is bound by the winning bid subject to applicable law.
4.9 Winner Default
Failure to complete payment within the applicable payment period may constitute winner default. BidnBuy may apply its auction recovery process, including cancellation of the winning allocation, account restrictions and offering the item according to the applicable recovery rules.
4.10 Prohibited Auction Behaviour
- Shill bidding or artificial price manipulation.
- Bidding solely to increase the price.
- A seller bidding on their own item through another account.
- Fake bidding accounts, coordinated bidding or collusion.
- Fraudulent bid retractions.
- Interference with auction systems or another user's bidding activity.
4.11 Bid Retraction
A valid bid cannot normally be withdrawn after submission. BidnBuy may void or correct a bid where there is verified fraud, a technical defect, an administrative error or another exceptional circumstance accepted by BidnBuy.
4.12 Technical Problems
Where a material BidnBuy technical failure affects the fairness or integrity of an auction, BidnBuy may extend, suspend, cancel or rerun the affected auction where reasonably necessary.
4.13 Auction Items Are Sold AS IS — No Refund
The bidder accepts the item's disclosed condition at the time the winning bid is placed.
A buyer cannot request a return or refund merely because they changed their mind, no longer want the item, misunderstood information that was clearly disclosed, subsequently found another item or lower price, the item has normal wear or imperfections consistent with its disclosed condition, or they failed to inspect the available listing information before bidding.
The AS IS / no-refund rule must be clearly displayed before a bid is submitted.
Nothing in this clause excludes liability or a consumer remedy which cannot lawfully be excluded under applicable Nigerian law, including where applicable in cases of fraud, material misrepresentation or material non-conformity with the description relied upon for the transaction.
4.14 Item Description and Condition
Auction listings should provide reasonably accurate information regarding the item's known condition and material characteristics. Where an item is used, second-hand, refurbished or otherwise not new, this should be disclosed.
4.15 Acceptance of Auction Rules
BidnBuy may require a user to expressly accept the current version of these Auction Rules before participating in an auction. Acceptance may be recorded electronically.