Terms & conditions

These Terms and Conditions (“Terms”) govern your access to and use of the Proaucs website, applications, online auction platform, and all related products and services (collectively, the “Platform”).

By accessing, registering with, or using the Platform, you acknowledge that you have read, understood, and agree to be legally bound by these Terms. If you do not agree with these Terms, you must discontinue use of the Platform immediately.

Proaucs operates an online auction and marketplace platform that facilitates the buying and selling of information technology assets, electronic equipment, e-waste, industrial materials, and other assets through forward and reverse electronic auctions.

Proaucs acts solely as an independent technology service provider and intermediary between Buyers and Sellers. Proaucs does not own, purchase, inspect, possess, store, or guarantee any asset listed on the Platform unless expressly stated otherwise.

For the purposes of these Terms:

• Buyer — any individual, partnership, company, organisation, government body, or other legal entity registered to purchase assets through the Platform.
• Seller — any individual, partnership, company, organisation, government body, or other legal entity authorised to list assets for sale through the Platform.
• Bidder — a registered Buyer or Seller authorised to participate in online auctions conducted through the Platform.
• Member — any registered user of the Platform.
• Paid Member — a Member who has paid the applicable membership fee prescribed by Proaucs.
• User — any individual or legal entity accessing or using the Platform.
• Auction Event — any forward auction, reverse auction, tender, negotiated sale, buyback event, or other electronic bidding event conducted through the Platform.
• Agreement — these Terms together with any auction-specific conditions, policies, guidelines, notices, or documents published by Proaucs from time to time.

To use the Platform, you represent and warrant that:

• You are at least 18 years of age.
• You possess the legal authority to enter into binding contracts.
• If acting on behalf of an organisation, you have authority to bind such organisation.
• All information submitted during registration is complete, accurate, and current.

Proaucs reserves the right to verify user information and reject or suspend any registration at its sole discretion.

Users may be required to register before participating in auctions.

Registration may require submission of:

• PAN
• GST registration
• Company registration documents
• Cancelled cheque
• Bank details
• Authorised signatory details
• Any additional KYC or compliance documents requested by Proaucs.

Membership, where applicable, shall remain valid for one (1) year from the date of activation unless otherwise specified.

Membership fees, onboarding charges, verification fees, and other service charges are non-refundable and non-transferable.

Membership does not guarantee participation in any auction or award of any transaction.

Participation in any auction constitutes acceptance of:

• These Terms;
• Auction-specific conditions;
• Seller-specific conditions;
• Applicable statutory requirements.

Users are solely responsible for carrying out their own inspections, due diligence, technical evaluation, and commercial assessment before placing bids.

Proaucs does not guarantee:

• Quantity;
• Quality;
• Condition;
• Description;
• Fitness for purpose;
• Merchantability; or
• Availability of any asset.

Users acknowledge and agree that:

• Every submitted bid is final and legally binding.
• Bids cannot be withdrawn, cancelled, or modified after submission.
• Auto Bid functionality may automatically place bids up to the maximum amount specified by the Bidder.
• Manual bids shall take precedence where applicable.
• Auction timers may automatically extend in accordance with auction rules where bids are received shortly before closing.

Proaucs reserves the right to suspend, postpone, cancel, extend, or restart any auction without prior notice.

The highest bid, lowest bid, or any bid submitted does not automatically result in a concluded sale.

The Seller retains absolute discretion to:

• Accept or reject any bid;
• Cancel an auction;
• Withdraw any lot;
• Modify auction terms before confirmation.

No contractual relationship between Buyer and Seller shall arise until confirmation is issued by the Seller or otherwise specified.

Users agree to:

• Maintain accurate registration information.
• Keep login credentials confidential.
• Use the Platform only for lawful purposes.
• Comply with all applicable laws and regulations.
• Not manipulate bidding or engage in fraudulent practices.
• Not interfere with Platform security or functionality.

Users remain fully responsible for all activities conducted through their accounts.

Each registered user shall receive login credentials.

Users are responsible for maintaining the confidentiality of:

• Username;
• Password;
• One-Time Passwords (OTP);
• Transaction Passwords.

Users must immediately notify Proaucs of any suspected unauthorised access.

Proaucs shall not be liable for losses arising from compromised credentials resulting from user negligence.

By registering on the Platform, Users consent to receive communications through:

• Email
• SMS
• Telephone
• WhatsApp
• Platform notifications
• Any other electronic communication permitted by law.

Such consent shall continue until expressly withdrawn where permitted under applicable law.

Buyers are responsible for:

• Payment of purchase consideration.
• Applicable GST and statutory taxes.
• TCS, TDS, duties, levies, transportation charges, loading charges, insurance, and any other applicable costs.

Tax applicability shall be determined by the Seller.

Proaucs shall not be responsible for tax disputes between Buyers and Sellers.

Where Smart Pay or similar payment mechanisms are used, additional processing charges may apply and shall be non-refundable.

All software, content, trademarks, logos, graphics, text, auction materials, databases, and Platform functionality are owned by or licensed to Proaucs.

Nothing contained in these Terms grants Users any ownership rights or licence except the limited right to access and use the Platform in accordance with these Terms.

The Platform may utilise third-party hosting providers, payment gateways, logistics providers, communication services, identity verification providers, or other service providers.

Proaucs shall not be liable for interruptions, failures, delays, or losses caused by such third-party services.

To the maximum extent permitted by law, Proaucs shall not be liable for:

• Loss of profits;
• Business interruption;
• Loss of opportunity;
• Consequential damages;
• Indirect damages;
• Special damages;
• Incidental damages;
• Data loss;
• Connectivity failures;
• Server downtime.

In all circumstances, Proaucs’ aggregate liability shall not exceed the total service fees actually received by Proaucs from the User in relation to the relevant transaction.

Users agree to indemnify, defend, and hold harmless Proaucs, its directors, employees, affiliates, officers, consultants, and service providers against any claims, liabilities, losses, damages, penalties, costs, or expenses arising from:

• Breach of these Terms;
• Misuse of the Platform;
• Violation of applicable law;
• Infringement of third-party rights;
• Transactions conducted through the Platform.

Proaucs shall not be liable for any delay, interruption, or failure to perform its obligations due to circumstances beyond its reasonable control, including natural disasters, floods, fires, epidemics, pandemics, labour disputes, governmental actions, internet failures, cyber incidents, power outages, telecommunications failures, or other force majeure events.

Proaucs reserves the right, at its sole discretion, to suspend, restrict, or terminate any User account without prior notice where:

• These Terms are violated;
• Fraudulent activity is suspected;
• Required documentation is not provided;
• Legal or regulatory requirements necessitate such action.

Termination shall not affect accrued rights or obligations.

Proaucs makes no warranties or representations, express or implied, including warranties relating to:

• Merchantability;
• Fitness for a particular purpose;
• Accuracy;
• Completeness;
• Availability;
• Security;
• Continuous operation.

Buyers and Sellers transact entirely at their own risk.

Proaucs reserves the right to modify these Terms at any time.

Updated Terms shall become effective immediately upon publication on the Platform unless otherwise specified.

Continued use of the Platform constitutes acceptance of the revised Terms.

These Terms shall be governed by and construed in accordance with the laws of India.

Any dispute arising out of or relating to these Terms or the use of the Platform shall be subject to the exclusive jurisdiction of the competent courts located in Mumbai, Maharashtra, India.