Terms of Service

1. Agreement to Terms

These Terms of Service ("Terms") govern your access to and use of Auction Hub's peer-to-peer investment platform ("Platform"). By registering an account or using our services, you agree to comply with and be bound by these Terms.

2. Definitions

3. Eligibility

To use our Platform, you must:

• Be at least 18 years old
• Have legal capacity to enter binding contracts
• Provide accurate and complete registration information
• Be a resident of Kenya with valid identification
• Have an active M-Pesa account registered in your name

We reserve the right to verify your eligibility and may suspend accounts that violate these requirements.

4. Account Registration

When creating an account, you agree to:

• Provide accurate, current, and complete information
• Maintain and promptly update your account information
• Maintain the security of your account credentials
• Notify us immediately of any unauthorized access
• Accept responsibility for all activities under your account

You may not create multiple accounts or transfer your account to another person.

5. Investment Process

5.1 Bid Placement

• Bids must be between KES 500 and KES 100,000
• Investment periods are 4, 8, or 12 days with specified ROI
• All bids are binding once placed during active auction sessions
• Users may have only one active bid at a time

5.2 Seller Pairing

• The Platform automatically pairs buyers with sellers
• Pairing typically occurs within 24 hours of bid placement
• Once paired, payment must be made within the specified deadline

5.3 Payment Process

• All payments are made via M-Pesa to the provided seller details
• Buyers must confirm payment within the Platform after sending funds
• Sellers must confirm receipt of funds
• Failure to pay within the deadline may result in account suspension

5.4 Returns Payment

• Sellers must return the principal plus agreed ROI by the due date
• Returns are made via M-Pesa to the buyer's registered number
• Late payments may incur penalties as specified in the Platform

6. Fees and Charges

Auction Hub charges the following fees:

• Platform Commission: 5% of investment returns
• Transaction Fees: Standard M-Pesa transaction charges apply
• Penalty Fees: Late payment penalties as specified

All fees are clearly displayed before bid placement. By using the Platform, you agree to pay all applicable fees.

7. User Responsibilities

7.1 Prohibited Activities

You agree not to:

• Use the Platform for illegal purposes or money laundering
• Provide false or misleading information
• Create multiple accounts or impersonate others
• Attempt to manipulate the bidding system
• Share account credentials or allow unauthorized access
• Use automated systems to access the Platform
• Harass, threaten, or defraud other users
• Violate any applicable laws or regulations

7.2 Financial Responsibilities

• Ensure you have sufficient funds before placing bids
• Make payments only to verified seller accounts
• Keep records of all M-Pesa transactions
• Report any suspicious activity immediately

8. Dispute Resolution

In case of disputes between users:

• Contact our support team immediately
• Provide transaction details and M-Pesa confirmation
• We will mediate and attempt to resolve the dispute fairly
• Our decision in disputes is final and binding
• Legal disputes shall be governed by Kenyan law

9. Limitation of Liability

To the maximum extent permitted by law, Auction Hub shall not be liable for:

• Investment losses or failed returns
• User disputes or payment issues
• Technical failures or platform downtime
• Unauthorized access to user accounts
• Third-party actions or M-Pesa service issues
• Indirect, incidental, or consequential damages

Our total liability shall not exceed the amount of fees paid to us in the past 6 months.

10. Account Termination

We may suspend or terminate your account if:

• You violate these Terms of Service
• We suspect fraudulent or illegal activity
• You provide false information
• You fail to fulfill payment obligations
• Required by law or regulatory authorities

You may terminate your account at any time by contacting support, provided all obligations are fulfilled.

11. Intellectual Property

All Platform content, features, and functionality are owned by Auction Hub and are protected by international copyright, trademark, and other intellectual property laws.

You may not copy, modify, distribute, or create derivative works without our express written permission.

12. Governing Law

These Terms shall be governed by and construed in accordance with the laws of Kenya. Any legal disputes shall be subject to the exclusive jurisdiction of the courts of Nairobi, Kenya.

13. Changes to Terms

We reserve the right to modify these Terms at any time. We will notify users of material changes via email or platform notifications. Continued use of the Platform after changes constitutes acceptance of the modified Terms.

14. Contact Information