Bidding Agreement

Before accepting this agreement, please read the entire content of this agreement carefully. If you have any questions about the terms of this agreement, please inquire through the customer service channel, and the customer service will explain the content of the terms to you. If you do not agree to any content of this agreement, or cannot accurately understand the content of the terms, please do not proceed.

1. General Provisions

1. Purpose and Basis
To regulate online auction activities and ensure the safe and effective operation of the platform's auction activities, these rules are specially formulated in accordance with relevant regulations such as the "Auction Law of the People's Republic of China" and the "Auction Management Measures".

2. Scope of Application
These rules apply to auction activities conducted through the okmarts e-commerce auction platform.

3. Compliance with Laws and Regulations
All users of this platform shall comply with relevant laws, regulations, and provisions. Auctioneers, bidders, and other users who violate laws, regulations, and provisions shall bear legal responsibilities.

2. Agreement Terms and Conditions

Article 1: Contracting Parties

This agreement is jointly signed by the OKmarts website (Sichuan Qianzheng Technology Co., Ltd.) and the users participating in the auction.

Article 2: Contract Background

In order to maintain the order of auction transactions on the OKmarts website, regulate auction behavior, and protect the legal rights and interests of the auctions, if you browse auction information, participate in an auction, and bid successfully, you will be bound by the purchase and sale contract.

Article 3: Validity and Applicability of the Agreement

By clicking "confirm" on the webpage or choose to accept this agreement through any other means, which means that you have reached an agreement with and agree to accept all the terms of this agreement. When you click "confirm" or complete any other action to accept this agreement, it shall take effect immediately.

Article 4: Conditions for Participating in the Auction

Buyers who meet the following conditions are eligible to participate in the auction: OKmarts mall members who have paid a deposit and confirmed acceptance of OKmarts' "Service Agreement" and "Bidding Agreement".

Article 5: Provisions Related to Bidders

(1) Use of Bidding Account and Password

All operations performed on this platform after logging in with the bidder's account and password are deemed to be the actions of the bidder, and the bidder shall be legally responsible for all activities and events conducted with his or her account.

The bidder shall not transfer or lend his or her account and password to any other individuals/organizations. If the bidder discovers that his or her account has been illegally used by others, he or she should notify the platform immediately. The platform shall not be held responsible for any unauthorized use of the account and password caused by hacker attacks, intentional or negligent actions of the user.

(2) Risks of Online Bidding

It is not ruled out that the online auction may be affected by any malfunction (including but not limited to unstable Internet, network failures, circuit failures, system failures) or be maliciously attacked by network hackers. Online bidding is different from on-site bidding, and online bidders must fully estimate the risks caused by the above reasons. The online bidder shall bear the responsibility for the losses caused by the above situations or her/his operational errors. The online bidder waives any claims for compensation against the platform for the following situations:

  1. System shutdown for maintenance purposes.
  2. Communication terminals or telecommunication equipment unable to transmit data.
  3. System failures and service unavailability due to force majeure factors such as typhoons, earthquakes, tsunamis, floods, power outages, wars, terrorist attacks, etc.
  4. Service interruptions or delays caused by hacker attacks, telecom infrastructure adjustments or failures, website upgrades, and other reasons, etc.

Before participating in the auction, the bidder should fully understand the auction announcements, bidding instructions, auction time, auction process, and other related information and requirements published by the platform, understand the current condition of the auction goods, carefully consider the various risk factors associated with the goods, and bear all potential transaction risks.

Once the online bidder participates in online bidding, they acknowledge and accept the objective state of online auctions.

(3) Payment of Security Deposit

Online bidders are required to pay a bidding security deposit in accordance with the auction announcement, bidding instructions, etc.

(4) Online Bidding Right

After the bidder has paid the required security deposit, he or she can participate in the auction and place bids once it commences.

(5) View Auction Items

Bidders can browse auction information online and view photos and text descriptions of the items. However, the quality and quantity of the auction items are subject to their actual condition at the time of the auction.

Bidders must acknowledge and accept the quality and existing defects of the auction items when placing bids online.

(6) Online Bidding

After the auction begins, bidders can place bids based on the current displayed price on the platform page. The system provides a fixed bidding increment, and on this basis bidders can adjust the increase range by using the "+" or "-" symbols. The system keeps a record of each successful bid made by the bidders, and the highest bidder at the end of the auction becomes the buyer of the auction item. The information recorded by the system serves as an important basis for determining the validity of the buyer.

(7) Payment of Auction Item Price and Related Fees

The buyer must carefully review the amount to be paid for the auction, including the auction item price, shipping fees, and other relevant costs, as stated in the auction announcement, bidding instructions, and auction rules. The bidder is required to make full payment to the platform within the specified time for the outstanding balance.

(8) Dealing with Breach of This Agreement

1. Violation Circumstances:
If the bidder engages in the following circumstances, the court will handle it accordingly based on the Civil Procedure Law of the People's Republic of China, the Provisions of the Supreme People's Court on the Auction and Sale of Property in the Civil Execution of People's Courts and relevant laws and regulations:

  1. The successful bidder fails to pay the outstanding balance, resulting in the failure to achieve the auction's purpose.
  2. Malicious collusion among bidders.
  3. The bidder has other violations of legal provisions.

2. Penalties for Malicious Bidding
In order to protect the rights and interests of other bidders in regular auctions, users involved in the aforementioned violations must bear corresponding responsibilities, including fines imposed on the security deposit according to the platform's bidding rules and adhering to corresponding agreements, such as a prohibition from participating in any auction activities within 7 days or other agreed-upon things.

(9) Bidders must abide by relevant agreements that are not mentioned in the bidding agreement but exist in the auction announcement, bidding instructions, auction process, and bidding rules.

3. Supplementary Provisions

These rules are formulated and interpreted by OKmarts website (Sichuan Qianzheng Technology Co., Ltd.). OKmarts website (Sichuan Qianzheng Technology Co., Ltd.) reserves the right to make periodic revisions to these rules in accordance with changes in laws, regulations, and practical situations. The revised versions will be announced on this platform, and once the revised version takes effect, it automatically replaces the previous version. If you do not agree with the relevant changes, you should immediately cease using the services of this platform. If you continue to use the services of this platform, it means that you accept the revised rules.

Appendix "Terminology Definitions"

Terminology Definitions
The relevant terms used on this platform are defined as follows:

  1. Online Auction: A buying and selling method that transfers specific items or property rights to the highest bidder through the Internet in the form of public bidding.
  2. Auction Item / Auction Lot: A single item or group of items offered for sale at the auction event.
  3. Bidder: An OKmarts Mall member who participates in auction activities by submitting a deposit.
  4. Buyer: The winning bidder who purchases the auction item(s) at the highest bid price.
  5. Bid Deposit: The deposit paid by the bidder to participate in the auction.
  6. Transaction Deposit: The deposit paid to ensure that the buyer will timely and fully pay the auction item's price after a successful bid.
  7. Starting Price: The initial bid announced at the beginning of the auction.
  8. Hammer Price: The highest bid (excluding shipping fees) at the end of the auction event.
  9. Bid Increment: The minimum bidding increment that a bidder must adhere to during each bidding process.
  10. Extended Bidding Time: The extended time for bidding caused by continued bidding activity before the auction concludes.
  11. Bidding Instructions: Documents written by the platform regarding deposit rules, delay rules, bidding rules, transaction rules, breach handling, and other relevant details for auction activities.
  12. Auction Time: The specific start and end times set for the auction activities. The displayed auction-related times on the platform are based on Beijing time.