Terms and Conditions

1. Definitions:

–       Website/Platform: refers to the electronic platform of Mazadat Company through which auctions are displayed and managed.

–       Customer: the person or entity offering products or assets for sale via electronic auction.

–       Bidder: the person or company bidding on and purchasing products through the platform.

–       Auction: the process by which a product is offered for bidding between multiple parties, with the highest bidder winning.

2. Registration and Use of the Platform:

–       All users must register using correct and complete information, including full name, ID/commercial registration number, mobile number, and email address.

–       The bidder acknowledges that all information provided is correct and up-to-date, and bears full responsibility for any false or misleading information.

–       The bidder is obligated to maintain the confidentiality of their login information (username and password) and is responsible for all activities that occur under their account.

–       Mazadat Company reserves the right to suspend or terminate accounts that provide false information or violate the terms and conditions.

-        The company is committed to protecting bidder data and not sharing it with any third party without permission.

3. Bidding System:

-        Bidding begins at the starting price specified by the customer and the auction company.

-        Bidding is conducted electronically and transparently, and all bids are automatically recorded on the platform.

-        Two minutes will be added if bidding occurs within the last two minutes, and this process continues until bidders stop bidding.

-        The specified deposit amount for each auction must be paid to participate in the auction.

-        The sale will not be approved until the customer approves the sale.

4. Guarantees and Financial Obligations:

-        Deposit Amount: Each bidder is required to pay a deposit before entering the auction. This amount is used to ensure seriousness in purchasing and compliance with the terms.

-        If the winning bidder fails to pay the final amount within the specified period (three business days from the invoice date), the transaction will be canceled and the full deposit amount will be forfeited. This action is considered compensation for any resulting damages.

-        The security deposit will not be refunded if the loading site (yard) is not cleaned or waste is left after receiving the materials.

-        A daily fee of OMR 20 per day will be deducted from the security deposit if the winning bidder delays transporting the materials after the specified period.

-        No product will be delivered until payment is confirmed.

-        The buyer bears the shipping or receiving costs, if any.

5. Fees and Commissions:

-        The company charges a specific administrative fee for each auction, deducted from the final auction price.

-        The brokerage fee is collected from the buyer according to the specified and agreed-upon percentage.

-        Taxes or customs duties may be imposed on the items to be sold.

6. Warranty and Liability

-        Auctions Company and customers are not directly responsible for the condition or quality of the products unless expressly stated, and the buyer must carefully inspect the items before registering for the auction.

-        Items are sold in their current location and condition as is.

–       Auctions Company and customers are not responsible for any fees that may be imposed on items.

7. Vehicle Ownership Transfer (if applicable):

–       If the auction includes vehicles, the winning bidder must complete the ownership transfer procedures within a maximum of (15) business days from the date of receipt of the vehicle.

–       The winning bidder must pay all government fees due for the transfer of ownership, and the website will provide the required paperwork and documents.

–       The Auctions Company assumes no responsibility for the vehicle after delivery, including its technical or legal condition, and the winning bidder accepts its condition as is.

–       The buyer may be required to sign additional documents to document the sale and transfer of ownership.

8. Auctions Company Powers:

–       The Auctions Company reserves the right to cancel or extend any online auction at any time, whether due to technical or organizational circumstances, or at the request of the owner of the items being offered.

–       The company has the right to reopen the auction or re-post the item at a later time if it deems the auction conditions unsuitable or violations that affect its fairness occur.

9. Customer Powers:

–       The customer has the right to reject the auction result if the bids do not reach the minimum price (secret minimum) previously set by the customer, provided this occurs before the final sale is completed.

–       This minimum must be determined in advance when the items are delivered to the auction company, and the company is obligated not to approve the sale if the required price is not reached.

10. Dispute Resolution:

–       In the event of any dispute between bidders, or between the bidder and the management, it will first be resolved through direct negotiation.

–       If an amicable solution cannot be reached, the matter will be referred to the competent authorities for adjudication in accordance with applicable regulations.

–       The platform management reserves the right to temporarily suspend the accounts of the affected users until the dispute is resolved.

–       These terms are subject to the laws of the Sultanate of Oman (or the country in which the company operates).