Terms and Conditions for Bidding:
By participating in the bidding process on our website, you agree to be bound by the following Terms and Conditions. Please read them carefully before placing a bid.
1. Eligibility
1.1 You must be a registered member of the YFM Plus platform to participate in any bidding activities.
1.2 You must have a valid and active account with sufficient loyalty points to place bids.
2. Bidding Process
2.1 All bids are made using loyalty points associated with your account.
2.2 Bids must be placed in increments as determined by the item’s minimum bid amount.
2.3 Each bid you place is final and cannot be reversed, except in cases of fraud or system errors.
3. Bid Validity
3.1 A bid will only be considered valid if: The amount of the bid exceeds the current highest bid for that item. You have sufficient loyalty points to cover the bid amount.
3.2 The current highest bid and bidding status are updated in real-time and may change based on other members’ bids.
4. Winning the Bid
4.1 The highest bid at the end of the bidding period will be declared the winner.
4.2 The winner will be notified via email or through the member dashboard.
4.3 The winner will receive the item or prize as described on the bidding page.
4.4 If there is a tie or a dispute, we reserve the right to resolve the issue at our discretion.
5. Loyalty Points and Transaction Fees
5.1 Loyalty points will be deducted from your account when you win an item or place a valid bid.
5.2 Any applicable transaction fees associated with the bidding process will be clearly disclosed before placing a bid.
5.3 If your bid is unsuccessful, or no longer the highest bid, your loyalty points will be added back into your account.
6. Bidding End Time
6.1 Each bidding item has a set end date and time (the "Bidding End Time").
6.2 Bidding will automatically close at the end time, and no further bids will be accepted after that time.
6.3 Any bids placed after the end time will be disregarded.
7. Item Availability
7.1 If the item is available in limited quantities, the highest bidder will receive the item based on the availability.
7.2 In the event that the item is no longer available due to unforeseen circumstances, we will notify the winning bidder and provide an alternative or refund any loyalty points deducted.
8. Refunds and Cancellations
8.1 No refunds are allowed once a bid is placed.
8.2 We reserve the right to cancel or refund bids in cases of fraud, error, or system malfunction.
8.3 If there are discrepancies in the loyalty points deduction or other technical issues, we will investigate and address them accordingly.
9. User Conduct
9.1 You agree not to engage in any activity that may disrupt or interfere with the bidding process, such as: Placing fake or fraudulent bids. Using unauthorized methods to manipulate the bidding process. Sharing your account credentials with unauthorized users.
9.2 We reserve the right to ban or suspend any member who violates these terms or engages in fraudulent activities.
10. Privacy and Data Usage
10.1 By participating in the bidding process, you agree to our Privacy Policy, which governs how we collect, use, and store your personal data, including your loyalty points and bidding activity.
10.2 We may share relevant data with third-party partners to facilitate the bidding and delivery of items, but we will never sell your data to unrelated third parties.
11. Limitation of Liability
11.1 We will not be held responsible for any technical issues, system errors,or service interruptions that may affect the bidding process.
11.2 We reserve the right to modify, suspend, or discontinue the bidding system at any time, with or without notice.
11.3 In no event will we be liable for any loss of points, loss of items, or loss of transaction data due to errors outside our control.
12. Amendments to Terms and Conditions
12.1 We reserve the right to modify or amend these Terms and Conditions at any time.
12.2 Any changes to these terms will be posted on the bidding page, and it is your responsibility to review them regularly.
13. Agreement
By participating in the bidding process, you acknowledge and agree to these Terms and Conditions. If you do not agree to any of the terms, please refrain from participating in the bidding process.
