Terms of Service & Arena Operating Rules

Welcome to the Biddit Arena. By registering for an auction, you enter into a binding legal agreement with Biddit India Private Limited. These terms govern the mechanical and legal operation of high-frequency auctions.

1. The Binding Bid Covenant

1.1 No-Withdrawal

Every bid placed within the Arena is an unconditional and irrevocable legal offer. Bidders waive all rights to withdraw, retract, or modify a bid once it is recorded in the server log.

1.2 The Popcorn Timer

Our proprietary "Popcorn Logic" resets the auction clock upon any bid placed in the final seconds. This is capped at five (5) resets per lot. The Biddit Server Log is the Final and Absolute Truth regarding timestamps and bid ordering.

2. Registration & Financial Commitment

2.1 Variable Commission

Entry to specific auctions requires a platform fee. This fee is variable, determined solely by Biddit, and may be designated as either a "Refundable Deposit" or a "Non-Refundable Ticket to Enter" at the time of listing.

2.2 Chargeback Waiver

By paying the entry fee, the user waives all rights to initiate bank chargebacks or disputes, as access to the Arena is granted instantaneously upon payment confirmation.

3. Dispute Resolution & Video Proof

3.1 The 15-Day Mandate

All claims regarding asset authenticity or condition are strictly barred unless accompanied by an uninterrupted unboxing/inspection video submitted within 15 days of the OTP Handover event. No exceptions shall be entertained beyond this window.

3.2 Arbitration

All disputes shall be settled via Private Arbitration in Jaipur, Rajasthan. The "Loser Pays" rule applies; the losing party shall indemnify the winning party for all legal fees and arbitrator costs incurred during proceedings.

4. Liability & The Corporate Veil

4.1 Digital Bridge

Biddit is a technology platform acting solely as a facilitator. We provide no warranties on the investment potential or condition of assets listed in the Arena. Sellers bear 100% liability for title, authenticity, and accurate representation.

4.2 Indemnification

Users expressly indemnify the Directors, Authorized Personnel, and Employees of Biddit India Private Limited against any and all claims arising from use of the Platform. Any and all liability is strictly limited to the Company's corporate insurance and assets.

5. Market Integrity & Forces

5.1 Shill Bidding

Sellers are strictly prohibited from bidding on their own lots, directly or through associates. Violations result in the immediate forfeiture of all wallet balances and a permanent ban from the Platform without appeal.

5.2 Force Majeure

Biddit is not liable for auction failures caused by third-party infrastructure failures (AWS, Razorpay, ISP outages) or logistics strikes. In such cases, Biddit may reset or void auctions at its sole discretion, and users shall have no claim for damages arising therefrom.

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These Terms of Service constitute a legally binding agreement between the user and Biddit India Private Limited.   Biddit India Private Limited reserves the right to amend these terms at any time. Material changes will be communicated to registered users by email. For legal inquiries, contact legal@biddit.in.