Terms of Service

Article 1 (Purpose)

These terms and conditions (the "Terms") govern the use of the B2B auction service (the "Service") provided by Auction Global (the "Company"), which enables overseas B2B companies to participate in auctions in Korea to source products. These Terms establish the rights, obligations, and responsibilities between the Company and users, as well as other necessary matters related to the use of the Service.

Article 2 (Definitions)

The definitions of terms used in these Terms are as follows:

• "Service" means the B2B auction platform provided by the Company.
• "User" means a B2B company that agrees to these Terms and uses the Service.
• "Auction" means the auction of products conducted through the Service.
• "Bid" means the act of a user participating in an auction and submitting a price.
• "Winning" means the state of finally purchasing a product in an auction.
• "Deposit" means the security deposit that must be deposited in advance to participate in an auction.

Article 3 (Effectiveness and Amendment of Terms)

These Terms shall be effective for all users who wish to use the Service. The Company may amend these Terms within the scope not violating applicable laws, and the amended Terms shall become effective by notifying users through the Service screen or by other means.

Article 4 (Provision and Modification of Service)

The Company provides the following services:

• Provision of information on Korean auctions
• Auction participation and bidding services
• Purchase and sourcing support services for winning products
• All other services that the Company may additionally develop or provide to users through partnership agreements

The Company may modify the content of the Service and will notify users in advance of such modifications.

Article 5 (Deposit and Auction Participation)

Users must deposit a deposit in the amount determined by the Company before participating in an auction. The deposit is used as a security deposit for auction participation and may be used as part of the purchase price after winning.

• The deposit must be deposited before participating in an auction, and participation in an auction is not possible if the deposit is not deposited.
• The amount of the deposit is determined according to the value of the auction product and the Company's policy.
• The deposit is processed during the settlement process after the auction ends.

Article 6 (Auction Cancellation and Refund)

Users who have participated in an auction may be subject to deposit refund restrictions and service usage restrictions in the following cases:

• Participating in an auction and not purchasing: If a user bids in an auction and wins but ultimately does not purchase, the deposited deposit will not be refunded, and future service usage may be restricted.
• Fraudulent bidding: If a user engages in false bidding or acts that interfere with the auction process, the deposit may not be refunded and service usage may be permanently restricted.
• Violation of Terms: If a user violates these Terms, service usage may be restricted without refund of the deposit.

Auction cancellation is only possible before the auction starts, and cancellation is not possible after the auction has started. If an auction is cancelled, the deposit will be fully refunded.

Article 7 (Auction Amount and Additional Costs)

Users must clearly understand and agree to the following:

• Auction winning amount: The amount won in an auction means only the purchase price of the product, and shipping costs, customs duties, and value-added taxes must be paid separately.
• Shipping costs: Shipping costs to the country where the product is to be imported must be calculated and paid separately from the winning amount.
• Customs duties and value-added taxes: Customs duties and value-added taxes of the country to which the product is to be imported must be paid separately according to the laws of that country, and these are not included in the winning amount.
• Other costs: Other costs that may arise, such as customs clearance costs, insurance premiums, and currency exchange fees, are borne by the user.

Users must bid considering these additional costs before participating in an auction, and cannot hold the Company responsible for additional costs after winning.

Article 8 (Bidding and Winning)

Users may bid in auctions, and bids cannot be cancelled. Winning occurs at the end of the auction to the highest bidder, and the winning user must complete the purchase.

If a user does not complete the purchase after winning, the deposit will not be refunded according to Article 6, and service usage may be restricted.

Article 9 (Payment and Shipping)

The winning user must pay the winning amount and additional costs (shipping costs, customs duties, value-added taxes, etc.) within the deadline specified by the Company.

Once payment is completed, the Company will ship the product to the address specified by the user. The Company is not responsible for damages occurring during shipping unless there is intentional or gross negligence on the part of the Company.

Article 10 (User Obligations)

Users must comply with the following obligations:

• Obligation to comply with these Terms and related laws
• Obligation to provide accurate information
• Obligation to participate in auctions in good faith
• Obligation to complete the purchase upon winning
• Obligation not to interfere with the Company's service operations
• Obligation to comply with other matters determined by the Company

Article 11 (Company Obligations)

The Company complies with the following obligations:

• Obligation to provide services stably
• Obligation to protect users' personal information
• Obligation to conduct auctions fairly
• Obligation to provide necessary information to users

Article 12 (Limitation of Liability)

The Company is not responsible for the following cases:

• Service interruption due to force majeure such as natural disasters, war, or service suspension by telecommunications carriers
• Service usage disruption due to user's fault
• Damages due to inaccuracy of information provided by users
• Defects or quality issues of auction products (except when there is intentional or gross negligence on the part of the Company)
• Additional costs due to changes in customs duties and value-added tax policies of importing countries
• Damages occurring during shipping (except when there is intentional or gross negligence on the part of the Company)

Article 13 (Service Usage Restrictions)

The Company may restrict service usage in the following cases:

• Violation of these Terms
• Participating in an auction and not purchasing
• Using the service in an improper manner
• Interfering with the Company's service operations
• Other cases determined by the Company

Article 14 (Dispute Resolution)

Matters not specified in these Terms shall be governed by relevant laws and commercial practices. Disputes between the Company and users shall be governed by the laws of the Republic of Korea, and the competent court shall be the court having jurisdiction over the location of the Company's headquarters.

Supplementary Provisions

These Terms shall take effect from January 23, 2025.