TERMS OF SERVICE & AUCTION RULES
BIDONU operates as a premier regulated global marketplace connecting authenticated consigners with verified bidders. All bidding, payments, and settlements are strictly governed by the rules below.
1. Mandatory 25% Pre-Bid Escrow Deposit
To maintain bid integrity and prevent malicious or speculative bids, BIDONU.COM enforces a mandatory 25% pre-bid deposit based on the auction lot base price (Deposit = 0.25 × Base Price). Bid placement buttons remain strictly disabled until payment capture is confirmed via payment gateway webhook.
2. Auction Settlement & Deposit Adjustment
Upon the expiration of the auction timer, the bidder with the highest valid bid is declared the winning buyer. The winning buyer's held 25% deposit is automatically credited toward the purchase price. The remaining balance is calculated strictly as: Balance Payable = Winning High Bid - 25% Deposit Paid + Insured Transport Fee. The winning buyer must complete payment within seven (7) business days.
3. Automated Refunds for Non-Winning Bidders
Bidders who placed a 25% pre-bid deposit but did not win the auction lot will have their held deposits automatically released and submitted to the payment gateway for refund back to the original source within 24–48 hours of auction termination...
4. Deposit Forfeiture Policy
If a winning buyer fails or refuses to settle the outstanding balance within the prescribed settlement window, the 25% deposit is subject to administrative forfeiture. Forfeited deposits are applied toward seller inconvenience compensation and platform administrative expenses.
5. Platform Commission & GST
BIDONU.COM charges a 10% platform commission on the final winning bid value plus applicable Goods & Services Tax (GST) on that commission fee. Shipping and transport charges are isolated line items and are non-commissionable.
6. Seller Verification & KYC
All sellers are required to submit government-issued identification prior to listing valuable sports memorabilia or luxury goods. Verification is administered manually by BIDONU compliance officers.
7. SSL & Data Protection Guarantee
All payment data, KYC credentials, and bidding activities are encrypted with 256-bit bank-grade SSL security protocols. BIDONU never stores raw credit/debit card details.