In order to qualify for the bidding process the bidder has to meet he following requirements.
1. Auction deposit (Rs. 20,000/-) has been deposited in the bank account of CarZaamin.
2. The Customer has never canceled a sales contract with CarZaamin by the Customer's reason after having a winning bid in a CarZaamin.
The prices on the CarZaamin Site's auction list reflect the specific Item purchase prices only ( e.g. the vehicle price ) and an additional sales commission fee will apply too. Also, other charges will apply in the event a Customer requests the delivery/shipping arrangements of CarZaamin.
As the auction initiates the details of the car, live auction details, bidding from other customers and the remaining time of the auction will be displayed on your auction list.
Bidding process is made easy for the user as it is automated. The bidder has to enter the desired maximum amount for a car in the system. System will gradually raise the bid offer staying in the maximum given amount as it reaches your given limit, offers from your side will be stopped. Your given target amount will not be shown to any other bidder or anyone.
During live auction the details will be sent to by an automated system via emails and text messages at your given number about the given steps.
1. You place a bid.
2. Another bidder makes a higher bid than yours.
3. The auction finish time comes close.
4. A bid is awarded a contract.
The above mentioned details will also be displayed under the “My Auction” tab available in your members section. In case any auction is held or terminated due to any unavoidable situation, that possibly could be system failure or related to it, CarZaamin reserves full rights to decide and auction results under its full discretion. CarZaamin will not be responsible for any loss or damage occurring during it.
The suggest price of the given car is set by the vehicle owner. Even if the bidder(s) have reached the suggested price of the car the system will not end the bidding process until it completes its auction time.
In case any car bid is closed under the suggested price of the car the only those bidders who have participated in the precise auction will have the eligibility to negotiate for the car price. An auction without will not be considered for price negotiation.
If any bidder enters the auction in last five minutes the system will automatically extend the auction and this process will repeat until there is no bid offered in last five minutes.