YFM Plus – Vault Bidding Terms & Conditions
1. OverviewThe YFM Plus Vault (“Vault”) is a promotional rewards feature that allows eligible members to use loyalty points (“Points”) to place bids on selected items (“Vault Items”). The highest valid bid at the end of the bidding period wins the Vault Item.
This is a
skill-based promotional activity and is
not a game of chance, lottery, or gambling activity.
2. EligibilityParticipants must be registered members of YFM Plus.
- Participants must be aged 18 years or older.
- Eligibility to bid may depend on membership tier and account status.
- YFM Plus reserves the right to verify identity and eligibility at any time.
3. Points SystemPoints are
loyalty rewards earned through member activity, including but not limited to purchases, engagement, and platform participation.
Points:
- Have
no monetary value
- Cannot be purchased directly
- Cannot be transferred, exchanged, or redeemed for cash
- Points are used solely within the YFM Plus platform for rewards and bidding.
4. Bidding Mechanics- Members place bids using their available Points.
- Each bid increases the member’s total bid amount for that Vault Item.
- The
highest total bid at the time the auction closes is deemed the winner.
- Bidding is
strategic and competitive, and outcomes are determined solely by member actions — not by chance.
5. No-Risk Bidding- Members who are outbid will have their Points
returned in full.
- Only the winning bidder will have their Points deducted permanently.
- Returned Points will be credited back to the member’s account within a reasonable timeframe.
6. Auction Timing- Each Vault Item has a defined start and end time.
- All bids must be placed before the countdown timer reaches zero.
- YFM Plus reserves the right to extend, pause, or cancel auctions in the event of system issues, fraud, or unforeseen circumstances.
7. Winner Determination- The winner is the member with the highest valid bid at the close of the auction.In the event of identical bids, the earliest bid submission takes priority.
- All decisions made by YFM Plus regarding the outcome are final.
8. Prize OptionsThe winning member may receive:
- The advertised Vault Item; or
- A
cash alternative, where explicitly offered
Cash alternatives:
- Are fixed and clearly stated prior to bidding
- Are offered at YFM Plus’s discretion
- Will be paid via bank transfer within a reasonable timeframe after verification
9. Prize Fulfilment- Winners must provide accurate contact and payment/shipping details within the requested timeframe.
- Failure to respond may result in forfeiture of the prize.
- YFM Plus reserves the right to substitute a prize with an equivalent alternative if necessary.
10. Verification & Fraud Prevention- YFM Plus reserves the right to:
- Verify the identity of any participantInvestigate suspicious activity
- Disqualify users engaging in fraudulent, abusive, or manipulative behaviour
- This includes, but is not limited to:
- Multiple accounts
- Exploiting system errors
- Artificial inflation of bids
11. Platform Integrity- YFM Plus makes reasonable efforts to ensure system accuracy but does not guarantee uninterrupted or error-free operation.
- In the event of technical errors affecting bidding outcomes, YFM Plus reserves the right to:
- Void affected bidsRestart auctions
- Cancel or amend results where necessary
12. Limitation of LiabilityTo the extent permitted by law, YFM Plus is not liable for:
- Loss of Points due to technical issues
- Delays in prize delivery
- Indirect or consequential losses
13. Compliance with Australian Law- This promotional activity is conducted in accordance with applicable Australian laws.
- This is a
skill-based promotional system and does not constitute gambling or a lottery.
14. Changes to Terms- YFM Plus reserves the right to update or modify these Terms at any time.
- Continued participation constitutes acceptance of any updated Terms.
15. ContactFor any questions regarding Vault bidding, please contact:
support@yfmusicplus.com
