Standard Rules of e-Auction
Essential compliance guidelines governing bidder participation, security deposits, bidding conduct, and asset evacuation.
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Statutory Compliance
Eligibility & Verification
- All bidders must verify their identity using a valid National ID (NID) or Passport.
- Corporate entities require an active Trade License and a 12-digit e-TIN certificate.
- Profile activation requires phone number and email OTP verification.
Earnest Money Deposit (EMD)
- Participation requires submitting the mandatory Earnest Money Deposit (EMD) before bidding.
- EMD refunds for unsuccessful bidders are automatically routed back to their verified bank accounts.
- Defaulting after winning results in forfeiture of the earnest money into the public treasury.
Bidding Conduct & Rules
- Every bid placed in the system is final, legally binding, and irrevocable.
- Bids must strictly follow the defined minimum increment step for each lot.
- Anti-sniping dynamic soft-close extension applies to ensure fair bidding opportunities.
Payment, VAT & Taxes
- The winning bidder must settle the remaining bid amount within the stipulated business days.
- Statutory VAT and Advance Income Tax (AIT) must be paid as per government financial rules.
- Payments are received through authorized gateways or Bangladesh Bank A-Challan.
Asset Removal & Handover
- An official Gate Pass is issued after full payment and statutory tax clearance are verified.
- Goods must be evacuated from the yard using the bidder's own logistics within the allotted time.
- Exceeding the removal deadline may incur standard daily demurrage or yard storage fees.
General Compliance & Integrity
- Any form of collusion, bid-rigging, or fraudulent syndicate formation is strictly prohibited.
- Misrepresentation or falsified records may lead to permanent blacklisting and legal action.
- In case of any procedural dispute, the decision of the Procuring Entity remains final.
Looking for step-by-step guidance?
Explore our illustrated user manual with screenshots for registration and live room bidding.