Auction Rules
AUCTION RULES
1. Rules / Terms
The auction is a public sale conducted through the Kollo Zain web app, where the product (car, item, house, art, jewelry, etc.) is offered for sale to interested buyers, and the auction is awarded to the highest bidder within the specified time period.
Kollo Zain has the right to extend the auction time if any bid is submitted during the last 5 minutes of the auction, in which case the auction will be automatically extended by 5 minutes to allow others to bid.
2. Product condition and liability
Participation in the auction constitutes a public and explicit acknowledgment of the bidder's acceptance to purchase the product in the condition declared by the seller. Kollo Zain is not liable for any defects or damages that were not disclosed by the seller or brought to the attention of Kollo Zain.
The bidder has the right to request to inspect the product at its location before bidding.
The bidder may conduct the inspection himself, bring a qualified technician of his choice, or commission any approved inspection center or workshop to send an inspector to the product's location to conduct the inspection.
In the event of an inspection, this shall be considered an explicit acknowledgment of acceptance of the condition of the product.
If no inspection is requested, this shall be considered an explicit acknowledgment of acceptance of the product as is, with all its defects or shortcomings.
Kollo Zain is not responsible for the accuracy of any theoretical inspection provided, if any.
3. Seller's Approval
The bidder is aware that the auction does not necessarily mean transfer of ownership, as the owner (seller) must agree on the price.
If the seller does not agree, the sale will not be concluded.
The bidder will be notified of the seller's final decision within (2) working days of the auction closing date.
4. Transfer of ownership and delivery
The transfer of ownership to the buyer's name takes up to 1 working day after full payment has been made.
The buyer bears the product transfer fees.
The delivery and transfer of ownership of the product is carried out by:
- Virtual transfer of ownership via government system ( Al-Matrash, if car)
- other legal/workable system
Any additional requirements, expenses, or procedures that may be imposed by the relevant official authorities to ensure the validity of the transfer of ownership are the sole responsibility of the buyer.
After completing and officially documenting the above procedures, the product will be delivered to the buyer at the location specified by Kollo Zain.
In the event of a delay in the transfer of ownership by the seller, Kollo Zain is obligated to refund the amount paid to the buyer after deducting the applicable service fees.
5. Participation Requirements
a. All registration data and subsequent requirements must be fulfilled (form).
b. Seller’s auction is Free for 1st time only.
c. A service fee of 1% of the starting value must be paid to Kollo Zain within 5 days from the selling date (via Cheque / Fund transfer / Cash)
6. Fees and payment
The auction winner agrees to pay a fixed administration fee of 150 USD to Kollo Zain within 5 days from the bid closing date (via Cheque / Fund transfer, / Cash).
The winning bidder is obliged to pay the amount within 24 hours, and communicate officially to the Seller to close the deal.
Failure to pay will be considered a refusal to complete the purchase, and Kollo Zain has the right to blacklist the user, collect charges.
Resell the product at auction.
7. Disclaimer
The bidder acknowledges that Kollo Zain is not responsible for products after sale, including but not limited to:
Product defects.
Responsibility for the transfer of ownership.
The bidder shall have no recourse against the company after the sale.
8. Amendment
We may update these terms. Continued use of the app/platform after changes constitutes acceptance.