# 📜 CustomBid.in — General Seller Terms & Vendor Agreement **(Enterprise e-Auction General Terms & Conditions)** **IMPORTANT NOTICE**: PLEASE READ THIS AGREEMENT CAREFULLY BEFORE REGISTERING AS A SELLER. BY DIGITALLY SIGNING THIS AGREEMENT, YOU AGREE TO CONDUCT ALL AUCTIONS ON CUSTOMBID.IN IN ACCORDANCE WITH PLATFORM RULES AND THE **"AS IS WHERE IS"** POLICY. --- ### 1. SELLER OBLIGATIONS & TITLE WARRANTY 1.1. The Seller warrants and represents that it possesses absolute legal ownership, unencumbered title, and lawful authority to sell and auction all items, lots, scrap, and machinery listed on **CustomBid.in**. 1.2. All lots must be listed strictly on an **"AS IS WHERE IS"** and **"IN WHATEVER CONDITION IT IS"** basis. 1.3. The Seller is solely responsible for providing accurate catalog details, including Serial Numbers, Product Descriptions, Net/Gross Weight, Applicable GST %, Physical Place of Goods, Google Maps inspection pins, and Gate Contact Person details. --- ### 2. SELLER ONBOARDING & ACTIVATION GATE 2.1. Corporate Registration requires submission of Company Name, GST Number, Registered Address, and Authorized Representative details (Name, Address, Mobile, Email). 2.2. **Mandatory KYC Uploads**: GST Certificate, Representative Passport Photo, Representative PAN, and Representative Aadhaar. 2.3. **Seller Activation Gate**: The feature to submit "Auction Conduct Requests" remains **STRICTLY LOCKED** until: a) Prescribed Seller Membership / Registration Fee is paid online. b) Self-signed physical hard copies of Corporate KYC documents are delivered via courier and verified/approved by CustomBid.in Administration. --- ## 3. AUCTION CREATION, ADMIN MODERATION & DATA LOCK 3.1. Sellers submit new auction proposals via the Seller Request Wizard (specifying Auction Dates, Lot Details, Weight, GST %, Reserve Price RP, Pre-Bid EMD, Increment step, Photos, and downloadable PDF Catalog/T&C). 3.2. **Admin Moderation**: CustomBid.in Admin reviews the auction request. Admin may approve the auction or return it with specific edit comments. 3.3. **Strict Data Lock**: Once an auction is approved by CustomBid.in Administration, **all auction parameters, lot specifications, and Reserve Prices are strictly locked and cannot be modified or edited by the Seller**. 3.4. **Pre-Auction Cancellation**: If a Seller wishes to cancel an auction prior to its scheduled start date, a formal cancellation request must be submitted. This request triggers an **instant flashing alert** on the Admin Control Panel for administrative decision. --- ## 4. RESERVE PRICE (RP) & STA (SUBJECT TO APPROVAL) WORKFLOW 4.1. **Reserve Price (RP)** is entered by the Seller during lot creation and remains strictly confidential/hidden from all buyers. 4.2. **Automatic Outcomes**: - **SOLD** ($\text{Highest Bid} \ge 100\% \text{ RP}$): Automatically awarded. Allotment Order (AO) is issued immediately. - **STA** ($50\% \le \text{Highest Bid} < 100\% \text{ RP}$): The decision is referred to the Seller. The Seller must log into the Seller Panel within 72 hours to **Accept (SOLD)** or **Reject** the highest bid. - **REJECTED** ($\text{Highest Bid} < 50\% \text{ RP}$): Automatically cancelled by the system. EMD is unlocked back to buyer wallet. --- ## 5. 2-STAGE BILLING SCHEDULE, RE-AUCTION COMMISSION EXEMPTION, DO & TAX INVOICE 5.1. **Stage 1 (25% Advance Deposit)**: Buyer pays 25% of winning bid within 7 days of SOLD email. Failure forfeits Pre-Bid EMD. 5.2. **Stage 2 (100% Balance AO Clearance)**: Upon 25% deposit, Allotment Order (AO) is generated: $$\text{Total Amount Payable by Buyer} = \text{Hammer Price} + \text{Seller Lot GST \%} + \text{4\% Portal Charge} + \text{1\% TCS (Sec 206C)}$$ Buyer must pay the remaining balance of the AO amount within 7 days of AO issuance. Failure forfeits the 25% advance deposit. 5.3. **Re-Auction Commission Waiver**: In the event that a winning Buyer defaults at Stage 1 or Stage 2 and their deposit/EMD is forfeited, **the Seller is 100% EXEMPTED from paying any portal commission when that lot is re-auctioned** on CustomBid.in in the future. 5.3. **Delivery Order (DO) Workflow**: a) Upon receiving full payment clearance of the AO amount, the Seller clicks **"Request Delivery Order (DO)"** in the Seller Dashboard. b) CustomBid.in auto-generates the official DO PDF with a dynamic Security QR Code. c) CustomBid.in **automatically emails the DO PDF to both Buyer and Seller**. 5.4. **Tax Invoice**: The Seller agrees to generate and issue the official **Tax Invoice** directly to the Buyer at the physical yard/site upon material delivery. 5.5. **Platform Fee**: Seller agrees to the 4% Portal Charge deduction / fee structure as established by CustomBid.in. --- ## 6. INDEMNIFICATION & LEGAL JURISDICTION 6.1. Seller agrees to indemnify and hold harmless CustomBid.in against any claims, damages, liabilities, or legal costs arising from title disputes, third-party encumbrances, or misrepresentation of listed goods. 6.2. All legal disputes shall be subject to the exclusive jurisdiction of courts located at the headquarters of CustomBid.in. --- ### 📝 DIGITAL SIGNATURE ACKNOWLEDGEMENT ``` Digitally Accepted & Signed By: [Authorized Representative Name] Company Name: [Company Legal Name] GSTIN: [Seller GST Number] IP Address: [System Logged IP] Timestamp: [Live System Date & Time UTC/IST] Agreement Status: ACTIVE & BINDING ```