Terms and Conditions

P2P Auctioneer is a community-based peer-to-peer marketplace designed to connect members who wish to buy and sell points through scheduled auctions.

The Platform provides the technology and processes through which members can interact with one another.

P2P Auctioneer does not act as the buyer or seller of points between members. Payments relating to member transactions are made directly between members according to the instructions provided through the Platform.

The Platform is designed around the following journey: Buy → Hold → Earn → Sell.

You must provide accurate and complete information when creating your account.

You must be legally permitted to enter into these Terms and use the Platform under the laws applicable to you.

You may not create an account using another person's identity, information or banking details.

You may not maintain multiple accounts unless P2P Auctioneer has expressly authorised this in writing.

P2P Auctioneer reserves the right to request additional information or verification where reasonably necessary to protect the Platform, its members or comply with applicable law.

You are responsible for keeping your login information confidential.

You are responsible for all activity carried out through your account unless you have promptly notified P2P Auctioneer of unauthorised access.

You must immediately notify us if you believe that someone has gained unauthorised access to your account.

You must not sell, transfer, lend or give your account to another person.

A once-off membership activation fee of R150 is payable before you can participate in the Platform's transactional features.

Your account will remain inactive until the required payment and proof of payment have been submitted and approved.

P2P Auctioneer may require additional verification before activating an account.

Membership activation does not constitute the purchase of points.

An applicable monthly membership fee of R50 is payable in accordance with the membership rules displayed on the Platform.

Failure to pay the required monthly fee may result in the account being suspended or deactivated.

An account that has been suspended or deactivated may be restricted from buying, selling, holding or participating in auctions until the relevant requirements have been satisfied.

For purposes of the Platform, one point is represented as R1.

Points are an internal unit used to record a member's position and participation within the P2P Auctioneer system.

Points are not described by P2P Auctioneer as a bank deposit or ordinary cash balance.

The rights associated with points are determined by these Terms and the rules displayed on the Platform.

The minimum purchase of points is 300 points, equivalent to R300.

P2P Auctioneer reserves the right to establish minimum or maximum transaction limits, subject to applicable law.

Members may purchase points through the available auction process.

A member selects an available holding plan and submits a request to purchase points.

The Platform may match the buyer with a member who has listed points for sale.

Once a seller has been assigned, the buyer will receive the applicable payment information and a unique payment reference.

The buyer must use the correct payment reference when making the payment.

The buyer must pay the seller directly using the payment instructions provided by the Platform.

A payment is not considered complete merely because the buyer has initiated a bank transfer.

The required proof of payment must be uploaded through the Platform and may be subject to verification.

Points will only be credited or released to the buyer after the applicable verification and approval process has been completed.

Members may select from the holding plans available on the Platform.

The current plans are: 7 days — 15% bonus; 10 days — 30% bonus; 20 days — 60% bonus.

The applicable bonus is calculated according to the rules displayed when the member enters the holding plan.

For example, subject to the applicable rules, 1,000 points held under the 10-day plan would mature to 1,300 points.

Points committed to a holding plan may not be sold or placed into an auction before they mature.

P2P Auctioneer may change, suspend or discontinue a holding plan where reasonably necessary, subject to applicable law and any rights that have already accrued.

When the applicable holding period has been completed, the points become matured points.

The applicable bonus is then credited according to the rules of the selected plan.

Matured points may be held or listed for sale through an available auction.

The maturity date displayed by the Platform will be regarded as the applicable maturity date unless an error is identified and corrected.

Members with eligible matured points may list those points for sale in an upcoming auction.

Once points have been committed to an auction, the member may not cancel or withdraw those points unless the Platform expressly permits it.

Listing points does not guarantee that a buyer will immediately be found.

If an auction closes before a transaction is completed, the listing may be carried forward to a subsequent auction in accordance with the Platform rules.

Auctions are conducted according to the schedule displayed on the Platform.

The Platform may display the total number of points available for an upcoming auction.

During an active auction, buyers may be presented with anonymous seller identifiers rather than the seller's personal identity.

A buyer may select an available seller and will be shown the relevant payment information after completing the required confirmation step.

The buyer must make payment within the applicable payment period.

P2P Auctioneer may open, close, postpone, suspend or manually start an auction where reasonably necessary.

Auction schedules may change from time to time.

After an auction closes, a buyer who has been assigned a payment obligation must make the required payment within 30 minutes, unless a different period is expressly displayed by the Platform.

The buyer is responsible for ensuring that the correct amount is paid, the correct bank details are used, the correct payment reference is used, and proof of payment is uploaded correctly.

A buyer must never deliberately submit false, altered or misleading proof of payment.

A seller must confirm receipt of a payment after the funds have actually been received.

A seller must not falsely confirm receipt of funds.

Once the applicable payment and confirmation requirements have been satisfied, the corresponding points may be released to the buyer.

Members must not attempt to manipulate, delay or falsify the payment confirmation process.

P2P Auctioneer operates a penalty system designed to encourage timely participation.

Within the applicable rolling two-month period: a first late payment may result in a 15% penalty on the relevant points; a second late payment may result in a 50% penalty; a third late payment may result in a 100% penalty and a three-month participation block.

The exact application of penalties will be determined according to the Platform's transaction records and rules.

P2P Auctioneer reserves the right to suspend an account where there is suspected abuse, fraud, manipulation or repeated failure to meet payment obligations.

Members may receive a rating based on their transaction behaviour.

Members initially receive a rating of 5.0 stars, subject to the Platform's rules.

Where a seller repeatedly fails to confirm payments within the required period, their rating may be reduced.

Members who consistently complete their obligations on time may have their rating restored according to the Platform's rating rules.

Ratings are intended to provide members with information about transaction reliability and do not constitute a guarantee of another member's conduct.

Members may participate in the referral programme where it is available.

A member may receive referral rewards from eligible activity generated by members who joined using their referral code.

The current referral reward is 35% of the points generated by eligible referrals, subject to the rules displayed by the Platform.

Referral rewards must not be represented as guaranteed income.

Members may not use misleading, fraudulent, spam or unlawful methods to recruit other members.

P2P Auctioneer may withhold or reverse referral rewards arising from fraudulent, cancelled, invalid or abusive activity.

Members must provide valid banking information before participating in activities that require making or receiving payments.

You confirm that the banking details you provide belong to you or that you are legally authorised to use them.

You must immediately update incorrect or outdated banking information.

P2P Auctioneer is not responsible for losses resulting from incorrect banking information supplied by a member.

You must not: provide false information; create fake accounts; use another person's identity; use another person's bank account without lawful authority; submit fraudulent proof of payment; attempt to manipulate auctions; collude with another member to manipulate transactions or ratings; attempt to bypass payment deadlines; interfere with the Platform's technical systems; use automated tools to manipulate the Platform without permission; misrepresent the nature of P2P Auctioneer; promise other people guaranteed profits or returns; use the Platform for unlawful activities; or use the Platform for money laundering, fraud or other criminal activity.

P2P Auctioneer may immediately restrict or suspend an account where there is reasonable evidence of prohibited conduct.

P2P Auctioneer provides a marketplace and matching environment.

We do not guarantee that a member will always find a buyer or seller.

We do not guarantee that a particular number of points will be available in an auction.

We do not guarantee that a member will make a profit or receive a particular financial outcome.

Participation involves obligations and risks, and members should only participate after understanding the rules.

Members acknowledge that payments relating to point transactions are made directly between members.

Members must carefully verify payment information before transferring funds.

P2P Auctioneer will provide transaction instructions through the Platform but cannot control a member's banking institution, payment processing times, bank errors, incorrect transfers or delays caused by a member.

Where a dispute arises, members must provide accurate transaction information and supporting evidence.

Members are responsible for all applicable Platform fees displayed before or during participation.

These may include membership fees or other applicable charges.

Any applicable fees will be communicated through the Platform.

Bank charges, transfer fees or other charges imposed by a member's bank or payment provider may be the responsibility of the member.

P2P Auctioneer may collect and process personal information necessary to operate the Platform, verify members, process transactions, prevent fraud, communicate with members and comply with legal obligations.

Personal information will be handled in accordance with applicable privacy laws and the Platform's Privacy Policy.

South Africa's POPIA framework regulates the processing and protection of personal information and provides data subjects with rights relating to their information.

P2P Auctioneer may suspend, restrict or terminate an account where: the member breaches these Terms; the member provides false information; fraud or suspicious activity is detected; the member fails to meet payment obligations; the member attempts to manipulate the Platform; the account creates a security or legal risk; or the Platform is required to do so by law or a competent authority.

Suspension or termination does not automatically remove obligations that arose before the suspension or termination.

We aim to keep the Platform available and functioning properly, but we do not guarantee uninterrupted access.

The Platform may occasionally be unavailable because of maintenance, upgrades, technical problems, telecommunications failures, banking-system failures, cyber incidents or circumstances outside our reasonable control.

All Platform software, branding, logos, designs, text, graphics and other intellectual property belonging to P2P Auctioneer remain the property of P2P Auctioneer or its relevant licensors.

You may not copy, reproduce, modify, distribute or commercially exploit Platform content without permission.

To the extent permitted by applicable law, P2P Auctioneer will not be responsible for losses arising from: incorrect information supplied by a member; incorrect banking details; delays caused by banks or payment providers; fraud committed independently by another member; internet or telecommunications failures; unauthorised access caused by a member's failure to protect their account; events outside our reasonable control; or a member's failure to comply with these Terms.

Nothing in these Terms is intended to exclude or limit any liability that cannot lawfully be excluded or limited.

P2P Auctioneer may modify features, auction schedules, holding plans, fees, limits, referral rules or other Platform functionality from time to time.

Where a material change affects members, we will provide notice where reasonably required.

Continued use of the Platform after the effective date of an updated version of these Terms constitutes acceptance of the updated Terms, to the extent permitted by law.

Members should first attempt to resolve transaction disputes through the Platform's support process.

Members must provide truthful information and relevant evidence when submitting a dispute.

Nothing in these Terms prevents a member from exercising any rights available to them under applicable law.

These Terms are governed by the laws of the Republic of South Africa, unless applicable law requires otherwise.

Any dispute will be dealt with in accordance with the applicable laws and jurisdiction of South Africa.

By using P2P Auctioneer, you acknowledge that peer-to-peer transactions involve risk.

You understand that other members may fail to meet their obligations, payments may be delayed, transactions may be disputed, and Platform participation may be suspended.

You should not participate with funds that you cannot afford to commit.

You acknowledge that past activity or previous bonuses do not guarantee future outcomes.

By selecting “I Agree”, “Accept Terms”, registering for an account, or continuing to use P2P Auctioneer, you confirm that:

I have read and understood the P2P Auctioneer Terms and Conditions.

I understand how buying, holding, earning and selling points works.

I understand that 1 point is represented as R1 and that the minimum purchase is 300 points (R300).

I understand the holding periods, applicable bonuses, auction rules, payment deadlines, penalties and referral rules.

I understand that payments for point transactions are made directly between members.

I agree to comply with these Terms and all applicable Platform rules.

I understand that participation involves risk and that P2P Auctioneer does not guarantee profits or a particular financial outcome.

I consent to the processing of my personal information in accordance with the Privacy Policy.

I confirm that the information I provide to P2P Auctioneer is accurate and truthful.

I agree to the P2P Auctioneer Terms and Conditions.