Terms of Service

Please read these Terms of Service carefully. By accessing the BaankAuctions website, creating an account or placing a bid, you agree to be bound by them. If you do not agree, please do not use the website.

1. About BaankAuctions

BaankAuctions  is an online platform that lists properties offered for sale by banks, financial institutions and other sellers, and allows registered users to bid on them. Unless a listing clearly says otherwise, BaankAuctions  acts as a facilitator and is not the owner of the listed property.

2. Eligibility and account

• You must be at least 18 years old and legally capable of entering into a binding contract.
• You must provide accurate information and keep it up to date.
• You must complete KYC verification before you can register for an auction. We may refuse or cancel a registration if verification fails.
• You are responsible for keeping your login credentials confidential and for all activity under your account.

3. Auction registration and fees

• To bid on an auction you must register for it and pay the participation fee / earnest money (EMD) shown on the property page.
• Fees paid by bidders who do not win are refunded as described on the property page and in the refund process of the website.
• Amounts, dates and conditions for each auction are set out on its property page and form part of these Terms.

4. Bidding rules

• Every bid is a binding offer to buy the property at the bid amount. A bid cannot be withdrawn once placed.
• Bids must meet the minimum bid increment displayed for the auction. The auction start time, end time and any extensions are shown on the property page and the auction room.
• The highest valid bid at the close of the auction is the winning bid, subject to confirmation by the seller.
• Bid manipulation, shill bidding, use of multiple accounts or any attempt to interfere with an auction is prohibited and may lead to disqualification.

5. Payment by the winning bidder

• The winning bidder must pay the balance price in the instalments and within the time limits stated for that auction.
• If the winning bidder fails to pay on time, the amounts already paid may be forfeited as set out for that auction, and the seller may re-auction the property or offer it to another bidder.

6. Property is sold "as is where is"

Properties are generally sold on an "as is where is", "as is what is" and "whatever there is" basis. Bidders should inspect the property and verify title, encumbrances, dues, approvals and possession status independently before bidding. See our Disclaimer for more.

7. Acceptable use

You agree not to: provide false information; use the website unlawfully; attempt to gain unauthorised access to the website or other accounts; scrape, copy or resell our content; upload harmful code; or harass other users or our staff.

8. Intellectual property

The BaankAuctions name, logo, design and content of the website are owned by or licensed to us and are protected by law. You may not copy or use them without our written permission.

9. Suspension and termination

We may suspend or terminate your account or cancel a registration or bid if you breach these Terms, if we suspect fraud, or if required by law or by the seller.

10. Limitation of liability

To the fullest extent permitted by law, BaankAuctions is not liable for any indirect, incidental or consequential loss arising from your use of the website or participation in an auction, including loss due to inaccurate listing information supplied by a seller, interruptions of service or events beyond our reasonable control. Our total liability for any claim is limited to the amount you paid to us in connection with the auction concerned.

11. Governing law and jurisdiction

These Terms are governed by the laws of India. Courts at Patna, Bihar shall have exclusive jurisdiction over any dispute, subject to any mandatory rights you have under applicable law.

12. Changes to these Terms

We may revise these Terms from time to time. The revised Terms apply from the date they are posted on this page. Continued use of the website means you accept the revised Terms.

13. Contact

Questions about these Terms can be sent to:

BaankAuctions
15/12 Sant Nagar Burari Delhi 110084, India
Email: info@baankauctions.com
Phone: +91 9582316765