1. Overview

This Refund Policy outlines the terms under which deposits, fees, and payments are handled on the NIMAI Technologies online auction platform, operated by Ekachakra Technologies (Pty) Ltd. Due to the nature of auction transactions, refund terms differ from standard retail purchases.

2. Deposit Refunds

Auction deposits are handled as follows:

• Unsuccessful Bidders: Deposits from bidders who did not win the auction are refunded in full within 7 to 14 business days after the auction closes
• Winning Bidders: The deposit is applied towards the total purchase price. If the deposit exceeds the amount due, the balance is refunded
• Non-Payment by Winning Bidder: If a winning bidder fails to complete payment within the settlement period, the deposit may be forfeited in full

3. Buyer's Premium

The buyer's premium is a non-refundable fee charged on the hammer price (winning bid amount). Once an auction is concluded and the lot is awarded, the buyer's premium is not eligible for refund.

4. "As-Is, Where-Is" — No Returns on Vehicles

All vehicles sold through the NIMAI Technologies platform are sold on an "as-is, where-is" basis. Vehicles are not eligible for return or refund after the auction has concluded and the sale has been confirmed. Bidders are responsible for inspecting vehicles during scheduled viewing sessions before placing bids.

Exceptions may be considered only where:

• The vehicle's description was materially and demonstrably misrepresented by the seller
• The vehicle differs substantially from the lot listing (e.g., wrong vehicle delivered)

In such cases, contact us within 48 hours of collection with photographic evidence and a detailed description of the discrepancy.

5. Subscription Refunds

For seller and fleet management subscriptions:

• Subscriptions may be cancelled at any time
• No refund is provided for the current billing period
• Access remains active until the end of the paid period
• You may request export of your data within 30 days of cancellation
• Data is retained for 90 days after cancellation, then permanently deleted

6. Platform Service Fees

Administrative and platform service fees (listing fees, documentation fees, etc.) are non-refundable once the service has been rendered. If a listing is cancelled before the auction opens, the listing fee may be refunded at our discretion.

7. Refund Processing

Approved refunds are processed as follows:

• Processing Time: 7 to 14 business days from the date of approval
• Refund Method: Refunds are issued to the original payment method used
• Currency: All refunds are processed in South African Rand (ZAR)
• Bank Processing: Please allow additional time for your bank or payment provider to reflect the refund

8. Dispute Resolution

If you believe you are entitled to a refund not covered by this policy, please contact us with full details of your claim. Disputes will be handled in accordance with the dispute resolution process outlined in our Terms and Conditions.

9. Consumer Protection

This Refund Policy is subject to the Consumer Protection Act 68 of 2008 (CPA) of South Africa where applicable. Auction sales are governed by specific provisions of the CPA relating to auctions.

10. Contact Us

For any questions regarding refunds, please contact us:

Email: info@nimaitec.com
Phone: +27 69 248 9935
Company: Ekachakra Technologies (Pty) Ltd, Durban, South Africa