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Terms and conditions

The rules that apply when you register, bid and buy through BID4SALVAGE.

Draft for review. This text is a working draft and must be reviewed and finalised by qualified legal counsel before launch.

1. About the service

BID4SALVAGE operates an online platform on which sellers offer surplus, salvage and scrap materials for sale by e-auction. BID4SALVAGE acts as an intermediary between sellers and buyers.

2. Registration and verification

Registration is free. You must provide accurate contact details, a valid email address and government address proof. BID4SALVAGE may approve, reject or suspend any account at its discretion.

3. Security deposit (EMD)

  • Each auction has a fixed security deposit (EMD) shown on its page. Deposits are paid by RTGS or demand draft and credited by BID4SALVAGE after receipt.
  • The EMD is frozen from your free deposit when you take part in an auction. Bidding does not spend it. It becomes free again if you lose or leave the auction.
  • If you win, the EMD remains frozen and is adjusted against your payment.
  • The deposit may be forfeited if a winning bidder withdraws or fails to complete the purchase.
  • Private auctions need BID4SALVAGE's approval before you can bid. BID4SALVAGE may approve, deny or put a request on hold until the deposit is received.

4. Bidding

  • Every bid must meet the minimum increment shown for the auction.
  • Bids cannot be cancelled, withdrawn or reduced.
  • The server clock of BID4SALVAGE determines the start and end of every auction.
  • Private auctions are open only to participants approved for that auction.

5. Award and approval

The highest bid is subject to approval by the seller, insurer and surveyor, which usually takes 2 to 3 working days. The seller may reject the highest bid, especially where it is below the reserve price.

6. Charges and taxes

Auction fees, documentation charges, transport and applicable taxes are payable in addition to the bid amount and are disclosed before the e-auction.

7. Condition of goods

All goods are sold on an as is where is basis. Buyers are encouraged to inspect the material before bidding. BID4SALVAGE does not warrant the condition, quantity or fitness of any lot.

8. Contact

For questions about these terms write to Bid4salvage@gmail.com.