1. ACCEPTANCE OF TERMS AND CONDITIONS

By using Auction Naira, you agree to be bound by all terms and conditions contained in the T&C. If you do not agree with the terms and conditions of the T&C at any time, you will discontinue your use of Auction Naira (www.auctionnaira.com).

Hereby user understands and confirms that Auction Naira’s legal name is Auction Naira 

1.1 REVISION OF TERMS AND CONDITIONS

Auction Naira reserves the right to update or revise the T&C at its discretion and without notice. You are responsible for checking the T&C periodically for changes. You can review the most current version of the T&C at any time at: [www.auctionnaira.com] if you continue to use Auction Naira following the posting of any changes to the T&C, you agree to be bound by these changes.

1.2 VERIFICATION OF INFORMATION
The material that appears on Auction Naira is for informational purposes only. Despite our efforts to provide useful and accurate information, errors may appear from time to time. Before purchasing items and/or related services that you have read about on Auction Naira, you should confirm any information (including the price) that is important to your purchasing decision. Auction Naira is not responsible nor makes any warranty, express or implied, or endorsement regarding any items being posted for auction on Auction Naira  or as to any of the related services that are being offered through this site. We are also not responsible for controlling items posted for sale or services being offered through this website, or any losses that you may incur while using our site.

1.3 RIGHT TO DENY USE
Auction Naira  reserves the right to deny use of this website to anyone who does not comply with these requirements or who otherwise uses this website in a manner that the operators of Auction Naira  deem inappropriate.

1.4 “AS-IS” AND “WHERE-IS” POLICY
Although Auction Naira cannot monitor every listing posted on our website, it reserves the right, but assumes no obligation, to delete, move, or edit any listings or postings on our website. You understand and agree that the Services are provided “AS-IS” and “WHERE-IS”, and that Auction Naira assumes no responsibility for the condition, timeliness or non-delivery of item(s) and/or related services.

2. DESCRIPTION OF SERVICE

Auction Naira is an online listing and auction site that brings together dealers, brokers, sellers and buyers. As a registered user of Auction Naira we can assist you with:

  • Gaining access privileges at major auctions;
  • Handling  documentation involved in your purchase;
  • Securing titles to purchased item(s);
  • Facilitate inspection;
  • Facilitate repairs of purchased item(s).

You understand that Auction Naira does not control the price and any other terms of any sale offered through its website and that these are strictly within the control of the seller or broker of that item or related services.

You further understand and agree that Auction Naira as a neutral facilitator in this process has no control over the truth, accuracy, quality, legality, or safety of postings made by users, sellers, dealers, brokers and other professionals. You understand and agree that Auction Naira cannot and does not confirm or verify the identity, background, qualifications, or abilities of users, sellers, dealers, brokers and the likes, nor does Auction Naira guarantee the condition and/or quality of the items or services that are offered up for sale through this site.

3. MEMBERSHIP & REGISTRATION RIGHTS AND OBLIGATIONS

To obtain access to many of the features on our website, you will be given the opportunity to register with Auction NairaAuction Naira requires Buyers, Sellers and Brokers to register if they wish to use any of the features of the website. Buyers can place bids on any item that is posted for auction on this site. In consideration of your use of the Service you agree to:

a) Provide true, accurate, current and complete information about yourself as prompted by the website’s registration form;

b) Provide authentication/verification of identity by providing copy of government issued documents such as a valid Government ID Card; and

c) Maintain and promptly update the registration information to ensure that it is at all times true, accurate, current and complete.

If you provide any information that is untrue, inaccurate, not current or incomplete, or Auction Naira has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Auction Naira has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).

Registered members have access to such features as upcoming schedules of auctions, detailed information related to auction inventories, and can participate in bidding. You additionally understand that there are particular features and/or services provided through Auction Naira that may have their own auction/purchase policies and/or terms of services; by using these features/services you agree to be bound by their respective terms.

Membership at Auction Naira is only open to individuals 18 years of age and older. Nevertheless, Auction Naira reserves the right to deny membership privileges to any individual, in its sole and absolute discretion.

4. BROKER AND SELLER ACCOUNTS

You will receive an account designation, along with its associated User ID and Password, upon completing the registration process. You are responsible for maintaining the confidentiality of your User ID and Password, and you are fully responsible for all activities that occur under your account.

You agree to immediately notify Auction Naira of any unauthorized use of your account or any other breach of security and to ensure that you exit from your account at the end of each session. Auction Naira cannot and will not be liable for any loss or damage arising from your failure to comply with this section.

5. FEES, PAYMENT AND DELIVERIES

You agree to pay all customary auction fees and charges for services rendered in connection with the purchase and sale of items; including without limitation, buyer premium, sale commission, entry fees, storage fees, and other customary fees and charges. It is the sole responsibility of the buyer to verify fees charged by Auction Naira prior to incurring such charges. All fees and charges are subject to change without notice. Payment for items must be made within 48 hours following purchase of item. Items not paid for within the above-specified timeframe will be deemed as a bridge of contract; Auction Naira in its sole discretion reserves the right to waive any penalties or late fees. Deposit and other payments can be made using the websites wallet system.

Members agree and acknowledge that they will bear all bank charges accrued for every financial transaction on the website.

Customary auction fees and charges for services are:

  1. 5% buyer premium for every purchase  (to be paid by the buyer)
  2. 5% sellers commission for every sale (to be paid by the seller)
  3. N5,000.00 inspection fee applies (if buyer choose to inspect items before bidding)
  4. N5,000 refundable Bidding Security Deposit on every bid(will be forfeited if item is not redeemed 48hrs after bid is won) 
  5. Accrued bank charges and transaction fees
  6. N20,000.00 Broker registration fee plus training 

6. TERMS OF SALE POLICY

Members acknowledge and agree that the buyer is responsible for all items purchased through Auction Naira. Every selection and input of BID is a customer’s obligation to purchase the item.

Members agree and acknowledge that once BID is made and inputted by the buyer, it cannot be retracted, cancelled or deleted.

7. AUCTION POLICIES

If a buyer bids on an item, that buyer is obligated to complete the transaction. Once a bid has been submitted, it cannot be retracted, deleted, or cancelled. Auction Naira is in no way responsible if a buyer’s registration information, including ID and password is lost, misplaced or stolen. Auction Naira is not responsible for any cancelled bids. Auction Naira still reserves the right to reject or void bids for any reason, in its sole and absolute discretion. Should a dispute arise regarding a bid, Auction Naira is the exclusive deciding authority with sole and absolute discretion in resolving disputes. Buyers agree to indemnify, defend, and hold Auction Naira harmless from any and all liability arising out of decisions made in resolving disputes. Auction Naira may, in its sole and absolute discretion and with or without notice, postpone or cancel a sale or withdraw an item from auction. Auction Naira will neither have liability nor obligation to buyers as a result of any bad nor failed purchase. 

7.1 Any statement that any item has a particular part means that a particular part was noted upon inspection but is not a representation or warranty that such part will be present at any time thereafter. Auction Naira is NOT RESPONSIBLE for missing parts.

7.2 Any indication that the item is in good condition at the time of inspection is NOT a representation or warranty that it will be any time thereafter.

Auction Naira reserves the right not to release any item for any reason.

Auction Naira shall not be responsible for damage that is brought to the attention of Auction Naira management after the item is retrieved (picked up) at auction. Buyer will have been deemed to accept delivery of the item in its present condition once the auction is completed and the item is available to be picked up by the Buyer.

8. INSPECTION POLICY

Although seller/broker will provide you with condition report complemented with a detailed picture of the item on the website. If you are buying an item and you’re worried about its condition, you can choose to physically examine the item you are considering to buy. In order to confirm any inspection, a fee of N5,000 will be charged as inspection fee. Request for inspection will only be approved upon confirmation of payment.  Inspectors must be available on the agreed inspection date; day or time, failure to show up will lead to the forfeiture of the inspection fee.   

9. PURCHASE CANCELLATION POLICY

 If Auction Naira does not receive payment or confirmation of the payment within 48hours after a bid is won, Auction Naira will consider the transaction as a bridge of contract. In that case, the bidding security deposit will be forfeited; if after 72hours payment has still not been confirmed, the item may be relisted or will be offered to the next in line of the auction with the approval of the seller/dealer. 

10. REFUND POLICY

Bidding Security Deposit will be refunded upon request. In the “MY ACCOUNT” page, click “Withdrawal”; follow the link and instructions so that we could process refund. Please note that, processing of refund may take 24 hours and a fee will be charged per refund as refund transaction fee. 

11. CHANGES IN LAW POLICY

Members agree and acknowledge that Auction Naira is not responsible and will not be held liable for any changes in the laws and regulations originating from the state and Federal Government, and the members agree to indemnify Auction Naira for any losses and/or damage resulting in changes in laws and regulations originating from the State and Federal Government that may impact the transaction and/or service offered by Auction Naira

12. USE OF AUCTION NAIRA CONTENT POLICY

Members agree and acknowledge that they will not use or reproduce any information on the Auction Naira website without the express written consent of Auction Naira. Members agree and acknowledge that the use or reproduction of any material on the Auction Naira website, without express written consent, constitutes an infringement of the intellectual property rights of Auction Naira with respect to said content.