i-Naira.com is designed to deliver value to customers through valuation, due diligence, underwriting and auctioning. Thus herein contains the Terms and Conditions.
Online terms and conditions are in addition to any general onsite service terms and conditions.
All customers which may include (but not limited to) Bidder and Auctioneer, agree that the terms listed below shall govern all service engagement with i-Naira.com. Our serivces will be conducted within the framework of the rules listed below plus and other provision that may be added from time to time.
Your bidder number (unique identifier) is your first name and last four digits of your mobile number. E.g. Ada ****1920.
All registration information provided by the bidder must be current, complete and accurate.
Bidders below the age of 18 must be under the supervision of a guardian to partake in any bid process.
Bidder agrees not use any device, software or routine to interfere or attempt to interfere with the proper working of or any transaction being conducted on and during the auction sale.
Access and use of any i-Naira.com site (Bargain Auction, NCR Auction, Bid & Earn); collectively the “Site” is subject to any and all specific terms and conditions set forth on any individual page within the Site and the terms and conditions of this User Agreement (collectively “Site User Agreement”) and all applicable laws and regulations, including but not limited to copyright and trademark laws. BY ACCESSING THIS SITE, YOU AGREE TO ACCEPT, WITHOUT LIMITATION OR QUALIFICATION, ALL OF THE TERMS AND CONDITIONS OF THE SITE USER AGREEMENT and to comply with all applicable laws, statutes, ordinances and regulations regarding your use of this Site. Legal action will be taken against anyone violating the terms and conditions of the Site User Agreement or any other applicable law or regulation. I-Naira.com reserves the right to periodically change the terms and conditions of the User Site Agreement and it is the Bidders’ responsibility to periodically review any and all changes made to these terms and conditions prior to each use of this Site. By using this Site, you agree in advance to accept any such changes.
In order to be legitimate to bid for an item, you must be a registered member of i-naira.com that must have paid the mandatory N2000 registration fee. Your membership allows us to more accurately identify online bidders and avoid the possibility of false bids. Bidders expressly authorize i-naira.com to accept a final bid from the bidder and hold such payment in an escrow till won item is delivered before disbursing money to the vendor. If a bidder wins a bid and unable to pay within the specified time frame, such user may not be allowed to participate in future bid activities.
It is an illegality to participate in a bid process that you are unable to fulfill when you win an item because you put in the final highest bid on the item.
Invoices will be emailed to successful bidders within 8 hours of the close of the auction. Full payment of the purchase price is payable to our specified bank account or through online payment platform provided by Interswitch or any other means communicated by i-naira.com.
Applicable taxes (sales tax of 5%) will be added to the purchase price of all taxable items. Collection of applicable taxes will be in accordance with the laws Nigeria
Online Auction Fee: NCRAuction will charge vendors 10% of their gross revenue. This policy may be reviewed without prior notice to the vendors.
Whereas all bids may start at N1.00, only absolute bids can close at any amount above starting bid and a winner will emerge.
Whereas all bids may start at N1.00 , a reserved bid item cannot be considered won until bidders enter an amount equal to or more than the reserved price on the bid. i.e. if a vendor places a reserve of N50,000.00 on a bid, until a bidder enters N50,000 or more, a winner will not emerge on the bid. Simply put, if the highest bid on such item falls below the reserved price, the vendor is not obliged to sell the item to the highest bidder.
Merchandise return/refunds: All items bid on and awarded to you as highest bidder is your property upon the final payment of your invoice to our designated account. By your registration, you hereby agree to accept all payments associated with any item you win; you hereby waive any and all rights concerning your capacity to pay for an item or not. A won bid must be paid for or the user may be banned as penalty for defaulting on your obligations. Defaulting customers, may be required to pay (5%) of the final price of that item before the user can use the auction platform again.
Notwithstanding any terms of the Conditions of Sale, if within 5 working days of the sale, we receive notice in writing to firstname.lastname@example.org from the buyer that the item sold has been miss-described as to the physical qualities of the item, and such miss-description is confirmed by a certified letter from an appraiser satisfactory to i-naira.com , then we will set aside the sale and refund to the buyer; the amount paid by the buyer for the lot. "Physical qualities of the items".
The above provisions allowing return and refund will not be applicable upon evidence of any physical removal or tampering.
You will be suspended or permanently banned from the Site if you provide false information when registering, such as a false name or fraudulent contact information. You may be permanently banned from this Site if you are the successful Bidder and you do not honour your auction bid.
Bidder acknowledges that all item/lots were available for inspection prior to the auction and, by these terms, i-naira.com and Owner/Seller strongly encouraged Bidder to carefully inspect each item/lot in which Bidder had any interest to determine the item/lot’s nature, quality, condition, quantity and size. Bidder relied solely on personal inspection and not on information listed on the Site or otherwise provided by Owner/Seller. Bidder’s failure to inspect, or otherwise be fully informed as to the nature, quality, condition, quantity and size of any item/lot will not constitute ground for any claim, adjustment, refund, termination of the contract for sale, or refusal to close the sale, against Auctioneer or Owner/Seller. Condition Reports: i-Naira and its employees are pleased to provide you with information on the condition of lots offered for auction. However, since we are not professional conservators or restorers, we urge you to inspect each lot yourself or have your agent do so on your behalf. Prospective buyers should satisfy themselves as to the condition and must understand that any statement made by i-Naira, or its' employees are merely subjective qualified opinions, NOTWITHSTANDING WRITTEN REPORTS OR ANY DISCUSSION CONCERNING CONDITION IN THIS CATALOGUE. The Site User Agreement constitutes the final expression of the parties’ agreement and a complete and exclusive statement of the terms of the sale. The IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ALL OTHER WARRANTIES, EITHER EXPRESSED OR IMPLIED, ARE SPECIFICALLY EXCLUDED from this sale and transaction and shall NOT apply to the merchandise that is the subject of these sales.
Despite efforts to avoid the withdrawal of item/lots from the sale after they are listed it may sometimes be necessary i.e when a reserved price on an item is not met and vendor rejects the highest bid on the item. i-Naira and the Owner/Seller reserve the right to do so at any time before or during the sale. The Owner/Sellers of property sold through this Site reserve the right to reject any and all bids in their sole discretion.
Buyer will be furnished an electronic receipt at the conclusion of the sale.
Merchandise becomes the full responsibility of Buyer at time of PAYMENT, and Buyer assumes all risk of loss and damage to property until removed from sale premises. Owner/Seller and i-Naira agree that merchandise may remain on the sale premises for a period of time following the sale. The date by which all merchandise must be removed from the premises is posted on an auction-by- auction basis, on the specific auction page.
Your items will be released as soon as payment cleans our bank.
No adjustment will be made with regard to merchandise inventory after item/lot has been removed from the premises or after the removal date posted by i-Naira, whether or not the property has been removed. i-Naira reserves the right, for any reason, in its sole discretion, to terminate, change or suspend any aspect of the auction sale.
i-Naira reserves the right to resell any property not paid for in full within four days of the online auction item/lot's closing date. Failure to pay for item/lots won on this online auction will result in forfeiture of item plus a penalty of 5% of the final bid on the item payable to i-Naira to lift default ban on the user who violated the rules.
Bid increments: Bidding generally opens at below market value of displayed item with some exception to items designated for charity and good causes. Bidder accepts responsibility for and agrees to indemnify, defend and hold harmless each Owner/Seller and i-Naira and their employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs and expenses (including reasonable attorneys’ fees and expenses) related to, arising from or associated with Buyer’s, his agents or representatives, use of the Site, including but not limited to personal injuries or property damage incurred on the sale premises or during removal and transport of any auction item/lots, and arising out of, based upon, or resulting from any breach or violation by Bidder of this Site User Agreement or any use by Bidder of the Site or as a result of a dispute with another Bidder.
i-Naira is providing services as an independent contractor for the Owner/Seller only and is not responsible for statements made by other parties.
This Site User Agreement constitutes a binding agreement between Bidder and Auctioneer (i-Naira) until terminated by i-Naira which we may do at any time, without notice, in our sole discretion. If Bidder dissatisfaction occurs with the auction sale in any way, Bidder's only recourse is to immediately discontinue use of the auction Site. i-Naira reserves the right to terminate Bidder registration and use of the auction Site, and impose limits on certain features of the auction Site or restrict Bidder’s access to, or use of, part or the entire Site without notice or penalty.
i-Naira cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. Bidder acknowledges that this auction is conducted electronically and relies on hardware and software that may malfunction without warning. i-Naira in its sole discretion, may void any sale, temporarily suspend bidding and re- sell any item/lots that were affected by any malfunction. The decision of the Auctioneer (i-Naira) is final.
i-Naira gathers information about Bidders and Owner/Sellers for the purposes of conducting online auctions. i-Naira does not sell or rent this information.
i-Naira uses email mailing lists to notify its customers about online and live auctions. If you are receiving a particular mailing and wish to discontinue receiving future mailings, simply unsubscribe.
Once you place a bid, and if you win, you will be obligated to buy the product at the said price you indicated as your bid. Placing a bid on this Site, and winning, then not paying for the product is illegal in Nigeria, and prosecution can result. The Owner/Sellers of property sold through this Site reserve the right to reject any and all bids, in their sole discretion. i-Naira undertakes the execution of online bidding as a convenience for clients and is not responsible for any inadvertent failure to execute bids, or for any error in the execution of bids. IN THE EVENT OF A TIE BID, FLOOR BIDDERS ALWAYS TAKE PRECEDENCE.
As a Bidder you are responsible for any bids placed under your bidding number and password. The security of your Bidder information is your sole responsibility as you, the Bidder, will be responsible for any and all bids placed under your number. If at any time you feel that your Bidder number and password have been compromised due to lack of security on your part, you must notify i-Naira immediately.
You agree that you will not use any robot, spider, other automatic device, or manual process to monitor or copy the Site or the content contained herein without our prior, express written permission. You agree that you will not use any device, software or routine to interfere or attempt to interfere with the proper working of the Site or any activity being conducted on the Site. You agree that you will not take any action that imposes an unreasonable or disproportionately large load on our infrastructure. You agree that you will not copy, reproduce, alter, modify, create derivative works, or publicly display any content from the Site without prior, express written permission of Auctioneer. THE SITE IS PROVIDED ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OTHER THAN THOSE WARRANTIES WHICH ARE IMPOSED BY AND INCAPABLE OF EXCLUSION, RESTRICTION OR MODIFICATION UNDER THE LAWS APPLICABLE TO THIS AGREEMENT.
No obligation, liability, responsibility, accountability or burden is undertaken, assumed or otherwise imposed by maintaining the Site.
Any controversy or claim arising out of or relating to this Site User Agreement shall be settled by binding arbitration in accordance with applicable commercial arbitration rules in Nigeria. Any such controversy or claim shall be arbitrated on an individual basis, and shall not be consolidated in any arbitration with any claim or controversy of any other party.
i-Naira may seek any interim or preliminary relief from a court of competent jurisdiction in Nigeria necessary to protect the rights or property of i-Naira pending the completion of arbitration. You and i-naira.com are independent contractors, and no agency, partnership, joint venture, employee or franchiser-franchisee relationship is intended or created by this Agreement. The Site User Agreement and any disputes arising out of or related to the Site shall be governed by and construed and enforced in accordance with, the laws of the Federal Republic of Nigeria applicable to contracts entered into and to be performed entirely within the Nigeria state. If any provision of this Site User Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced. i-Naira's failure to act with respect to a breach by you or others does not waive the right to act with respect to subsequent or similar breaches. This Site User Agreement sets forth the entire understanding and agreement between us with respect to the subject matter hereof. Your use of this auction site marks your acceptance in full of these Terms and Conditions.