Auction Payment Policy
This Auction Payment Policy outlines the terms and conditions governing all payments related to successful bids made during auctions conducted by Timeless Legacy Collections Pvt Ltd (“we”, “our”, or “us”) on our platform. By participating in any auction, you (“Bidder” or “Buyer”) agree to comply with this Policy in full.
1. General Auction Terms
- Auctions are conducted online via our platform and are open only to registered users aged 18 or above.
- All bids placed are legally binding offers to purchase the listed item.
- The highest bid at the time of auction close will be considered the winning bid, subject to successful payment and verification.
2. Invoicing and Payment Timeline
- Once an auction concludes, the winning bidder will receive an invoice via email within 48 hours.
- The buyer must make full payment within the timeline mentioned on the invoice—typically within 5 working days.
- After successful payment, we will process and settle the transaction within 12–15 working days, which includes internal verification, packaging, shipping, and issuance of a GST-compliant invoice (if applicable).
Note: Delay in payment may result in cancellation of the winning bid and blacklisting from future auctions.
3. Modes of Payment
Payments must be made through any of the following RBI-compliant digital payment modes integrated with our platform:
- UPI
- Credit/Debit Cards
- Net Banking
- Wallets (e.g., Paytm, PhonePe, etc.)
- Other approved gateways listed at checkout
We do not accept cash, cheques, or third-party transfers for auction payments.
4. Buyer’s Responsibilities
- Ensure that your billing and shipping information is accurate and up to date.
- Complete payment within the deadline to avoid forfeiture of the bid.
- Retain the payment receipt and invoice for future reference or claims.
- Verify that your registered email address is functional to receive timely updates.
5. Non-Payment and Penalties
Failure to make payment within the specified time may result in the following:
- Bid Cancellation: Cancellation of the winning bid
- Future Restrictions: Loss of eligibility to participate in future auctions
- Account Deactivation: Permanent deactivation of your user account
- Legal Action: Legal action or recovery proceedings for high-value defaulters (in cases of fraud or repeated non-payment)
6. Cancellations and Refunds
- Auction bids are final and cannot be cancelled once placed.
- No refunds will be provided except where:
- The item is unavailable post-auction due to unforeseen circumstances
- The product is significantly damaged during transit and is proven by proper evidence
- All refund requests will be evaluated on a case-by-case basis and processed within 7–10 working days of approval.
7. Shipping and Dispatch
- Payment Verification: Shipment is initiated only after full payment is received and verified.
- Shipping Timeline: Shipping timelines typically range from 3–10 working days from the date of dispatch.
- Tracking Information: Tracking information will be shared once the item is shipped.
8. Dispute Resolution
- Any disputes related to auction payments must be reported to us at pastfindsindia@gmail.com within 5 working days of receiving the invoice or product.
- All disputes will be addressed in accordance with Indian law, and the jurisdiction of courts will lie in New Delhi.
9. Grievance Redressal
For complaints, disputes, or queries regarding auction payments:
Grievance Officer
Email: pastfindsindia@gmail.com
Phone: +91-9971940579
Working Hours: Monday to Friday, 10 AM – 6 PM
- Complaints will be acknowledged within 48 hours
- Complaints will be resolved within 15 working days
10. Policy Updates
We reserve the right to amend or update this Auction Payment Policy at any time. Any changes will be posted on our website, and your continued participation in auctions constitutes acceptance of the revised policy.
Contact Information
For questions or concerns regarding this Auction Payment Policy:
Timeless Legacy Collections Pvt Ltd
Email: pastfindsindia@gmail.com
Phone: +91-9971940579