TERMS AND CONDITIONS

Welcome to the Proaucs website (hereinafter referred to as “the website”).

The auctions and related services on this website are provided by Proaucs.

Proaucs is an e-commerce service provider authorized by sellers and buyers to facilitate virtual auctions. The website serves as an online auction platform, offering a virtual marketplace for sellers and buyers to conduct asset sales and purchases. Bidders can place bids or offers on such assets. Proaucs acts as a third-party facilitator and has no ownership interest in the items listed.

DEFINITIONS

  1. SELLER/BUYER
    Any real individual or legal entity who wishes to sell or buy assets via online auctions through the website and has authorized Proaucs to provide support and platform services.

  2. BIDDER
    A registered legal entity with Proaucs who places a bid to buy or sell assets, either partially or fully. Individuals may register separately in different legal capacities. A successful Bidder is one in whose name a sale certificate or purchase order is issued.

  3. PAID MEMBER
    A Bidder who has paid the annual membership fee as prescribed by Proaucs.

  4. USER
    Any individual or legal entity using the website or related services provided by Proaucs.

  5. AGREEMENT
    The general terms and conditions listed here, along with any auction-specific terms accessible through links on the website, collectively form the Agreement.

  6. ONLINE BIDDING EVENT
    A competitive price discovery process between Bidders. Seller-initiated events are Forward Auctions; Buyer-initiated events are Reverse Auctions.

  7. By accessing the website, registering, or using the services, you confirm that you have read and agreed to these terms and conditions.

MODIFICATIONS

Proaucs may amend, suspend, or discontinue services or content on the website at its discretion and without prior notice. Continued use of the website indicates acceptance of such modifications.

MEMBERSHIP TERMS & CONDITIONS

  • Membership is valid for one year from the date of registration/renewal. Schemes or offers may vary.

  • Training on e-bidding is available upon request.

  • Membership does not guarantee auction participation; final approval rests with the Seller.

  • Proaucs will strive to provide timely auction information but is not liable for delays or non-receipt. Members should check the website regularly.

  • Auction-specific terms must be strictly adhered to for participation eligibility.

  • Membership fees are non-refundable and non-transferable.

  • Proaucs is not liable for disputes involving inspected material or related losses. Members indemnify Proaucs from such claims.

  • The platform only facilitates auctions and does not guarantee business or transaction success.

  • Proaucs relies on third-party hosting and is not liable for connectivity or server-related issues.

  • Proaucs is not responsible for the quality or legality of auctioned assets and is not involved in post-auction dealings (e.g., warranties, payments, delivery).

  • Members agree to hold Proaucs harmless from any claims, costs, or damages arising from auction participation.

  • Members consent to receive communications via email, WhatsApp, and phone calls, overriding any NDNC registration.

  • Member benefits include:

    • Auction alerts

    • Auction summaries and bid analytics

    • Bidding training (upon request)

    • Access to auction catalogs

SECURITY

  • Users are assigned a User ID and must create a secure password (minimum 8 alphanumeric characters, certain special characters disallowed).

  • Forgotten passwords can be reset using a verification code sent to registered contact details.

  • A session-specific transaction password is required for participating in auctions, verified through OTP.

TIME STANDARD

All timestamps refer to Indian Standard Time (IST). Auction events follow the server’s time, which may not always match IST. Bidders should refer to server time displayed in the auction room.

TERM OF AGREEMENT

This Agreement remains valid as long as the user continues to use the website and services.

GENERAL TERMS

  • Participation is considered acceptance of auction terms, including the Caveat Emptor principle.

  • Assets are sold “AS IS WHERE IS” and “NO COMPLAINT” basis.

  • No guarantees are provided regarding asset specifications or suitability.

  • The highest or lowest bid does not guarantee acceptance. Sellers/Buyers may cancel or reject bids without explanation.

COMMUNICATION

  • Users consent to receive communications from Proaucs via electronic means, overriding NDNC registration.

  • Only Paid Members may download auction catalogs.

ONLINE BIDDING

  • Multiple logins from the same IP address are not permitted.

  • Time extensions may apply if a leading bid is placed within the last three minutes.

  • All bids are legally binding. Bids cannot be modified or withdrawn.

  • Auto Bid: Enables automatic bidding up to a maximum or minimum value. Manual bids override Auto Bids if amounts match.

TERMINATION

Proaucs reserves the right to refuse or terminate access to its services at its sole discretion.

FORCE MAJEURE

Proaucs shall not be held liable for service delays or interruptions caused by factors beyond its control, including but not limited to natural disasters, strikes, civil unrest, power failures, or network outages.

DISCLAIMER

  • Proaucs operates through a third-party-hosted platform and is not liable for technical failures.

  • Proaucs is not responsible for the quality or legality of transactions. Buyers and Sellers bear full responsibility.

  • Liability is limited to the total fee received by Proaucs from the relevant party.

  • Auctioneer-specific terms may apply additionally.

  • Trademarks and logos shown are used in good faith and do not imply endorsement or affiliation.

GOVERNING LAW & JURISDICTION

  • This Agreement is governed by Indian law.

  • All legal disputes shall fall under the jurisdiction of courts in Bangalore, Karnataka, India.

  • Users agree to indemnify Proaucs from third-party claims arising from use of the services.

PARTICIPATION REQUIREMENTS

  • Bidders must register with Proaucs using valid contact and tax details, and upload required documents (PAN, GST, etc.).

  • For Smart Pay EMD payments:

    • Bank details and a scanned cancelled cheque must be submitted.

    • A Smart Pay ID and Virtual Account Number will be created.

    • Usage charges are non-refundable and apply in addition to EMD.

GST AND TAX CLARIFICATIONS

  • Bidders must verify tax structures directly with Sellers.

  • Proaucs is not responsible for miscommunication or disputes about applicable taxes.