Master Seller Agreement — Biddit

This Covenant is executed between Biddit India Private Limited ("The Platform") and the Seller (Asset Owner or Authorized Liquidator) for the purpose of listing high-value assets in the Arena.

Execution of this Covenant is mandatory for all Sellers. Continued use of the Dashboard constitutes acceptance of all terms herein.

1. Representations & Warranties

1.1 Absolute Title

The Seller warrants that they hold clear, unencumbered title to the asset. The Seller assumes 100% legal and financial liability for any claims of misrepresentation or stolen property.

1.2 Authenticity

The Seller is the sole guarantor of authenticity. Biddit is not an appraiser. If an asset is found to be non-genuine within the 15-day verification window, the Seller shall refund all monies and pay a penalty fee to the Platform.

2. Auction Mechanics

2.1 Locked Listings

Once the first bid hits a listing, the Seller is legally locked in. No withdrawal of the asset is permitted after the auction has commenced.

2.2 Listing Errors

Biddit reserves the unilateral right to cancel any auction in the event of a manifest clerical error in the listing details.

3. Payout & Commission

3.1 Variable Commission

Biddit's commission is non-negotiable and varies per asset class. The "Pure Agent" model is utilised for GST purposes, meaning Biddit collects GST on behalf of the Seller and remits it to the appropriate authority.

3.2 Payout Window

Funds are released to the Seller only after:

(a) OTP Handshake is verified, confirming physical asset receipt by the buyer; and
(b) The 15-day inspection period has lapsed without a valid dispute being raised.

4. Compliance & Penalties

4.1 Shill Bidding

Any attempt to artificially inflate bids via secondary accounts or coordinated third parties will result in an immediate 90-day wallet freeze and total forfeiture of earnings from all active auctions.

4.2 Zero Tolerance Policy

Listing of illegal items — including but not limited to Ivory, Stolen Goods, prohibited weapons, or controlled substances — will result in an immediate handover of Seller KYC data to the relevant Enforcement Directorate or Police authorities, and permanent account termination without refund.

5. Delivery & Logistics

5.1 Handover Insurance

Sellers are mandated to maintain insurance covering property damage during the physical handshake event. The designated logistics partner is liable for delays; the Platform assumes no responsibility for transit losses, damage, or delay beyond its reasonable control.

This Agreement is a legally binding instrument governing the relationship between the Seller and Biddit India Private Limited. Biddit India Private Limited reserves the right to amend this Agreement at any time. Material changes will be communicated to registered Sellers by email. For questions, contact legal@biddit.in.

Master Seller Agreement & Listing Covenant