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These Terms & Conditions (“Terms”) govern your use of Nexvanta Auctions, operated by Nexvanta Universal Private Limited (“Nexvanta”). They are an electronic record under the Information Technology Act, 2000. By registering or bidding, you agree to these Terms and to our Privacy Policy.

1. Eligibility and accounts

• You must be at least 18 years old and able to enter into a binding contract under Indian law.
• You must give accurate registration details and keep them up to date.
• You must complete KYC verification before you can bid.
• You are responsible for keeping your password confidential and for all activity on your account. Accounts are locked for 15 minutes after 5 consecutive failed sign-in attempts.
• One person may hold only one bidder account.

2. Dealers and listings

• Only verified Dealers may list items. To become a Dealer, you must apply with a valid GSTIN, PAN and business address. Nexvanta verifies each application before granting Dealer access.
• Nexvanta verifies every Dealer listing before it goes live. New listings stay “pending approval” until our team approves them. We may reject a listing, with reasons, or ask for changes. A rejected listing may be edited and resubmitted.
• Dealers must describe items accurately and completely, hold clear title or the authority to sell, and disclose all known defects and encumbrances.
• Our verification does not guarantee the condition of an item. Bidders should make their own enquiries and inspect items where possible.

3. Bidding rules

3.1 Starting price and bid increments

Every auction publishes a starting price and a bid increment. The first bid must be at least the starting price. Each later bid must be at least the current highest bid plus the bid increment. The portal rejects bids below the minimum and tells you the lowest valid amount.

3.2 Bids are binding

A bid is a binding offer to buy at that amount and cannot be withdrawn or cancelled once placed. Please check the amount before you confirm. You cannot bid on your own listings.

3.3 Anti-sniping extension

If a bid is placed in the last 2 minutes before an auction’s end time, the end time extends by 2 minutes from the scheduled end. This repeats for every such bid, so the auction ends only after 2 minutes pass with no new bid.

3.4 Reserve price

A Dealer may set a confidential reserve price. If the highest bid when the auction closes is below the reserve, the item is not sold and no contract is formed. The portal shows whether the reserve has been met, but not the amount.

3.5 Timing and records

Auctions open and close at the times shown, in Indian Standard Time. Our servers are synchronised to official time sources. Nexvanta’s server records of bid time and amount are final.

3.6 Prohibited conduct

Shill bidding, collusion between bidders, bidding on behalf of a Dealer, automated bidding not offered by the portal, and any attempt to manipulate an auction are prohibited. They may lead to suspension and to bids being cancelled.

4. Winning and payment

The highest valid bid when the auction closes wins, provided the reserve price (if any) is met. The winner must pay within the time shown in the auction listing, using the payment methods offered in the portal. If a winner does not pay, their account may be suspended and Nexvanta may offer the item to the next-highest bidder or relist it.

5. Cancellations

• A Dealer may cancel a listing before it goes live, or while it is live and has no bids.
• Nexvanta may cancel or suspend an auction at any time for suspected fraud, a material error in the listing, a technical failure affecting fair bidding, or a legal requirement. We will give the reason.
• When an auction is cancelled, all its bids are void and no contract is formed.
• After an auction closes with a winning bid, cancellation needs Nexvanta’s approval and may attract charges set out in the listing.

6. Fees

Registration and bidding are free unless a listing says otherwise. Any buyer’s premium or Dealer fee is shown before you bid or list. Taxes apply as required by law.

7. Limitation of liability

Nexvanta provides the marketplace. The Dealer, not Nexvanta, sells the items. To the extent the law allows, Nexvanta is not liable for the condition, quality or legality of items, or for indirect or consequential losses. Nothing in these Terms limits liability that cannot be limited under Indian law.

8. Suspension and termination

We may suspend or close accounts that breach these Terms. You may close your account at any time from the Privacy Centre, subject to completing any pending transactions.

9. Grievances and governing law

You can raise complaints with our Grievance Officer through the Grievance Redressal page. We resolve them within 30 days. These Terms are governed by the laws of India, and the courts of India have jurisdiction.

10. Changes

We may update these Terms and will publish the new version on this page with a revised date. Material changes will be notified in the portal. Bids placed before a change are governed by the Terms in force when they were placed.