Terms and Conditions

Last Updated: 05 May 2025
Company Name: Auctium Limited
Registered Address: Innovation Centre Medway, Maidstone Road, Chatham, Kent, England, ME5 9FD
Company Registration Number: 16015703
Email: [email protected]

1. Definitions

  • “Platform” refers to the SaaS auction software provided by Auctium Limited.
  • “Client” refers to the business or company subscribing to use the Platform.
  • “Agreement” refers to these Terms and Conditions.
  • “Services” refer to all software and related services provided by Auctium Limited.
  • “Transaction Fee” refers to the fee charged by Auctium Limited for each completed sale processed through the Platform.

2. Agreement Scope

  • These terms govern the relationship between Auctium Limited and Clients using the Platform.
  • Clients agree to comply with these terms when accessing and utilizing the Platform.

3. Fees & Payment Terms

  • Clients will be charged a transaction-based fee for each auction sale processed through the Platform.
  • The fee structure and percentage charged will be outlined in separate pricing agreements or as displayed within the Client’s account settings.
  • Fees will be automatically deducted from the final sale price or invoiced to Clients post-sale.
  • Clients will be responsible for any third-party costs incurred, including but not limited to card payment processing fees, chargeback fees, dispute resolution fees, and banking fees.
  • Late payments may result in restricted access to the Platform or suspension of services.
  • Auctium Limited reserves the right to review and update fee structures with at least 30 days’ notice before changes take effect.

4. Intellectual Property Rights

  • Auctium Limited retains ownership of all software, trademarks, and proprietary technology.
  • Clients are granted a non-exclusive, revocable license to use the Platform during their engagement with Auctium Limited.
  • Clients may not copy, modify, sublicense, or distribute the software without prior written consent.

5. Platform Usage

  • Clients must not use the Platform for unlawful activities, fraudulent transactions, or actions that violate regulations.
  • Any unauthorized access, distribution, or misuse may result in suspension or termination of the agreement.

6. Support & Maintenance

  • Software updates, bug fixes, and security enhancements will be provided as necessary.
  • Any additional customization or development outside the standard offering may be subject to additional charges.

7. Data Protection & GDPR Compliance

  • Auctium Limited will process Client data in compliance with UK GDPR regulations.
  • Personal data collected through the Platform will be handled securely and will not be shared with third parties without consent.
  • Clients retain ownership of bidder and vendor data they upload, and Auctium Limited will not publish identifiable data.

8. Limitation of Liability

  • Auctium Limited shall not be liable for indirect or consequential losses, including lost profits or business disruption.
  • Maximum liability is capped at the total transaction fees paid by the Client within the last 12 months of service.
  • Auctium Limited is not responsible for bidder defaults or auction transaction failures beyond reasonable control.

9. Termination & Suspension

  • Either party may terminate this Agreement with 30 days’ written notice.
  • Auctium Limited may terminate or suspend access immediately if a Client breaches these terms.
  • Upon termination, Auctium Limited will provide an electronic copy of the Client’s data upon request, subject to a reasonable processing fee.

10. Confidentiality

  • Both parties agree to maintain the confidentiality of proprietary information shared during the course of business.
  • Confidential information shall not be disclosed to third parties unless required by law or regulatory authorities.

11. Governing Law & Jurisdiction

  • This Agreement is governed by the laws of England and Wales.
  • Any disputes shall be settled in the courts located in England.