Gavelic

Gavelic Auction Terms & Agreement

Protected Auction Transaction Agreement

This Auction Terms & Agreement (“Agreement”) governs each Protected Auction transaction conducted through Gavelic (“Platform”). By participating in a Protected Auction as a Buyer or Seller, you acknowledge that you have read, understood, and agreed to be bound by this Agreement. This Agreement supplements the Gavelic Terms and Conditions. If any conflict exists regarding the specific procedures of a Protected Auction transaction, this Agreement shall apply.

1. Nature of Protected Auction Transaction

1.1 Platform Role

Gavelic provides a technology-based marketplace service that facilitates:

  • auction bidding
  • transaction procedures
  • payment authorization workflows
  • handover confirmation processes

Gavelic is not:

  • a buyer
  • a seller
  • an agent of either party
  • a bank
  • a financial institution
  • a payment institution
  • an escrow provider
  • a trustee
  • a product authentication service
  • an arbitrator

The sale contract exists solely between the Buyer and the Seller.

The sale contract exists solely between the Buyer and the Seller. Any instruction executed by the Platform to capture, hold, or release funds via the payment provider’s API is performed solely pursuant to the automated or user-triggered rules agreed upon by the Buyer and Seller under this Agreement.

1.2 No Custody of Funds

All payment authorization, capture, and settlement activities are processed by third-party payment service providers, including Stripe Connect or other providers designated by Gavelic.

Gavelic:

  • does not receive transaction funds
  • does not hold transaction funds
  • does not control users’ payment accounts
  • does not guarantee payment completion

Payment processing is subject to the applicable terms of the third-party payment provider.

For the avoidance of doubt, any instruction issued by Gavelic to the payment service provider to capture, cancel, or release a payment authorization is issued solely to give effect to the transaction conditions pre-agreed between the Buyer and the Seller under this Agreement. Gavelic holds no right, title, or beneficial interest in any transaction funds at any time, and has no power to apply, divert, or use such funds for its own benefit, save for the deduction of service fees disclosed at checkout in accordance with Section 8.

1.3 Meaning and Scope of the "Protected Auction" Designation

The designation "Protected Auction" refers solely to the standardized payment and handover procedure described in this Agreement, namely: (a) payment by pre-authorization hold, such that no payment is captured before the applicable transaction conditions are satisfied; (b) release of payment only upon OTP verification, Receipt Confirmation, or a determination under Section 7; and (c) full release of the authorization hold, without penalty or deduction, where the transaction is cancelled in accordance with this Agreement.

The designation does not mean, and must not be understood as meaning, that Gavelic authenticates, inspects, certifies, insures, or guarantees any item; verifies the honesty or reliability of any user; guarantees that the Buyer will receive a genuine, conforming, or satisfactory item; or guarantees that the Seller will receive payment. Gavelic provides no protection of any kind in respect of the authenticity, quality, condition, or conformity of items.

1.4 Definitions and Computation of Time

In this Agreement:

"Shipping Information Confirmation" means the Buyer's confirmation under Section 6.2 that the shipping information submitted by the Seller appears accurate and consistent, and includes a deemed confirmation under Section 6.2A and a confirmation resulting from a Platform determination under Section 6.2. Shipping Information Confirmation is completed at the time recorded by the Platform's system.

"Proof of Delivery" means the Seller's submission through the Platform of evidence that the official website of the relevant courier shows the shipment as delivered or signed for, comprising (i) the tracking number already submitted under Section 6.1 and (ii) a legible screenshot of the courier's official tracking page showing the delivered or signed-for status. Proof of Delivery is completed at the submission time recorded by the Platform's system. Proof of Delivery submitted by the Seller is a procedural trigger only; in any escalated review, the delivery status shown on the courier's official website prevails under Section 7.4.

"Authorization Deadline" has the meaning given in Section 3.3.

All periods expressed in hours or days under this Agreement run continuously, including non-business days, from the time recorded by the Platform's system for the relevant triggering event.

2. Auction Participation and Winning Bid

2.1 Seller Listing Responsibility

The Seller is solely responsible for:

  • ownership of the listed item
  • legality of the item
  • accuracy of description
  • uploaded photographs
  • disclosed condition information

Gavelic does not verify or authenticate listed items.

2.2 Bidding Rules

Buyers may submit bids during the auction period.

A valid bid must:

  • comply with the auction rules
  • exceed the current required bid amount
  • not involve prohibited manipulation

2.3 Winning Bid Confirmation

At auction expiration:

  • the highest valid bidder becomes the winning Buyer
  • the transaction proceeds to the Protected Auction completion process

The winning Buyer acknowledges an obligation to complete the transaction according to this Agreement.

2.4 Tiered Star Rating and Eligibility Threshold

(a) Each user profile displays a star rating from one (1) to five (5) stars. Newly registered users are assigned a default rating of three (3) stars.

(b) Upon a user accumulating six (6) received ratings of three (3) stars or above, the user's star rating increases by one (1) star and the accumulation count resets to zero.

(c) Upon a user accumulating six (6) received one-star ratings, the user's star rating decreases by one (1) star and the accumulation count resets to zero.

(d) Two-star ratings are neutral and do not count toward either accumulation under paragraph (b) or (c).

(e) A user's star rating is capped at five (5) stars and floored at one (1) star.

(f) A user whose star rating falls below two (2) stars (that is, to one (1) star) may not initiate, bid in, or use the buy-now function of, any Protected Auction, until the rating returns to two (2) stars or above through ratings subsequently received (including ratings received in Normal Auctions).

(g) Ratings obtained or given in breach of Section 3.4 of the Gavelic Terms and Conditions (including fake transactions, related-account ratings, or rating manipulation) may be disregarded, removed, or adjusted by the Platform, and the related accounts may be restricted.

(h) Mutual rating and final completion display. After payment release, each party will be invited to rate the other (Rate Seller / Rate Buyer). The transaction is displayed as finally completed (END) once both parties' ratings are recorded. Where a party has not submitted a rating within fourteen (14) days after payment release, the rating window for that party closes and the transaction is displayed as completed; the absence of a rating does not affect the completed payment.

3. Payment Authorization Process

3.1 Payment Authorization

After winning an auction, the Buyer must complete the payment authorization process through the supported payment provider.

The payment provider may place an authorization hold on the Buyer's payment method.

Such authorization:

  • reserves payment availability
  • does not represent payment received by Gavelic
  • does not mean funds are held by Gavelic

The Buyer must complete payment authorization within twenty-four (24) hours after being declared the winning bidder. Failure to do so will result in automatic cancellation of the transaction and release of any outstanding authorization hold.

3.2 Release Conditions

Payment capture and settlement will occur only after completion of the applicable transaction confirmation process:

  • Meetup confirmation through OTP; or
  • Shipping completion confirmation according to Section 6.

3.3 Authorization Validity Period and Automatic Re-Authorization

Payment authorizations are subject to validity periods (typically approximately seven (7) days) imposed by the card networks and the Buyer's card issuer.

To allow transactions to proceed beyond a single authorization period, the Buyer authorizes the following at checkout: (a) the payment provider will securely save the Buyer's payment method (Gavelic never receives or stores card numbers); and (b) before an existing authorization expires, the Platform will automatically cancel it and instruct the payment provider to place a new authorization for the same amount on the saved payment method, without further action by the Buyer. This renewal may repeat until the transaction completes or is cancelled under this Agreement.

The Buyer acknowledges that, because card issuers may take several days to release a cancelled authorization, the old and new authorizations may temporarily appear simultaneously on the Buyer's account, temporarily reducing available credit by up to twice the transaction amount. This is a card-issuer processing characteristic and does not mean the Buyer has been charged twice.

Unless otherwise stated at checkout, each renewal will be initiated approximately every six (6) days, and no more than four (4) renewals will be performed for a single transaction (providing total authorization coverage of approximately thirty-one (31) days from the original authorization). Where a renewal attempt is declined by the card issuer (for example, due to card expiry, insufficient funds, or an issuer requirement for additional verification), the Platform will promptly notify both the Buyer and the Seller by email and in-app notice, and the Buyer will have twenty (20) hours from that notice to complete a fresh payment authorization through the payment provider. If the Buyer fails to do so within that period, the transaction will be automatically cancelled and any outstanding authorization released in full.

The expiry time of the then-current authorization, taking into account the renewal process above, is the "Authorization Deadline" for the purposes of this Agreement. Under no circumstances will Gavelic capture, receive, or hold transaction funds in order to preserve a transaction; where a transaction cannot be completed while a valid authorization is in place, it will be cancelled in accordance with this Agreement.

4. Dual-Track Handover Selection

4.1 Handover Methods

After winning an auction, the Buyer and Seller must select one of the following methods:

  • Meetup
  • Shipping

The Platform may use a blind selection process to reduce manipulation or unfair coordination.

Meetup transactions must be completed (including OTP verification) within fourteen (14) days of successful handover method pairing, failing which the transaction will be automatically cancelled and the authorization released in full.

4.2 Failed Pairing

The parties must successfully select a matching handover method within twenty-four (24) hours of payment completion. After each unsuccessful matching attempt, a new twenty-four (24) hour selection period begins. If the parties fail to achieve a match after three (3) attempts, or if a selection period expires without a valid response, the transaction shall be automatically cancelled and any payment authorization shall be released.

5. Meetup Transaction Process

5.1 Physical Inspection

For Meetup transactions:

The Buyer is responsible for inspecting the item before confirming completion.

Gavelic does not participate in:

  • physical inspection
  • authentication
  • quality assessment
  • condition evaluation

5.2 OTP Confirmation Authorization

After inspection, if the Buyer accepts the item:

  • Buyer confirms completion through the Platform
  • Platform generates a One-Time Password ("OTP")
  • Buyer provides OTP to Seller
  • Seller enters OTP into the Platform

Five (5) consecutive incorrect OTP entries will lock OTP entry for that transaction for fifteen (15) minutes.

Successful OTP verification constitutes:

  • confirmation that the Buyer accepts handover
  • authorization for payment processing
  • authorization to proceed with settlement

For the avoidance of doubt, successful OTP verification confirms only that handover has taken place and constitutes the Buyer's final authorization for payment release; the Platform has no obligation to reverse the instruction once executed. It does not constitute any determination, representation, or warranty by Gavelic as to the authenticity, quality, condition, or conformity of the item, does not waive or diminish any right the Buyer may have against the Seller, and does not exclude any liability of Gavelic that cannot lawfully be excluded. Disputes regarding authenticity, quality, condition, or conformity are outside Gavelic's review under Section 7.1 and Section 12, and remain solely between Buyer and Seller.

5.3 OTP Security Responsibility

The Buyer must protect the OTP.

The Buyer acknowledges that:

  • sharing OTP represents authorization
  • unauthorized disclosure may result in payment release
  • Gavelic is not responsible for losses caused by improper OTP handling

6. Shipping Transaction Process

6.1 Seller Shipping Requirement

The Seller must provide:

  • valid tracking information
  • shipping confirmation
  • parcel evidence where required

False or misleading shipping information constitutes a violation of this Agreement.

For Shipping transactions, the Seller is responsible for the shipment cost and must submit the required shipping information (courier name, tracking number, a photograph of the parcel, and a receipt evidencing paid postage) within twenty-four (24) hours after the Shipping method has been successfully matched. Failure to do so shall result in automatic cancellation of the transaction and release in full of the Buyer's payment authorization.

Delivery address. The Buyer is solely responsible for providing an accurate and complete delivery address directly to the Seller, using the contact details exchanged through the Platform after successful handover method pairing. Gavelic does not request, collect, store, verify, or transmit delivery addresses. Any loss arising from an incorrect, incomplete, or undeliverable address provided by the Buyer is a matter solely between the Buyer and the Seller. Where the Seller is unable to dispatch the item because the Buyer has failed to provide a delivery address in time, and the twenty-four (24) hour submission period consequently lapses, the transaction will be automatically cancelled and the Buyer's payment authorization released in full, without penalty to either party; such cancellation does not affect any civil liability between the Buyer and the Seller under Section 9.3.

The Seller acknowledges that payment capture depends on the applicable transaction conditions being satisfied, and objectively evidenced where required under Section 7, before the Authorization Deadline. The Seller is solely responsible for selecting a courier service that provides publicly accessible online tracking and for dispatching the item promptly. Where delivery cannot be evidenced by the courier's official tracking records before the Authorization Deadline, the transaction may be cancelled under Section 7.4(iv) without payment to the Seller, and the Seller's recourse (if any) shall lie against the Buyer directly.

6.2 Delivery Confirmation Process

After the Seller submits shipping information — including courier name, tracking number, and photographs of the package and shipping receipt — the Buyer will be prompted to review and confirm that the submitted information appears accurate and consistent ("Shipping Information Confirmation"):

  • confirm the shipping information is correct; or
  • report that the shipping information is incorrect

Where information is reported incorrect, the Seller must resubmit corrected information within twenty-four (24) hours; failure to resubmit within that period shall result in automatic cancellation of the transaction and release in full of the Buyer's payment authorization. Where the resubmitted information is again reported incorrect (that is, on the second occasion), the matter shall be escalated for Platform review. Platform review under this Section is limited to whether the submitted information is complete, legible, and consistent with the requirements of Section 6.1; it does not verify the contents of the parcel. Where the Platform's review confirms that the submitted information is materially incomplete, illegible, or non-compliant, the transaction shall be cancelled and the Buyer's payment authorization released in full. Where the Platform's review finds the information to be compliant, Shipping Information Confirmation shall be treated as completed at the time of the Platform's determination, and the process in Section 6.3 applies.

Shipping Information Confirmation relates solely to the accuracy of the information submitted by the Seller. It does not constitute, and must not be relied upon as, confirmation that the item has been received by the Buyer.

Once Shipping Information Confirmation is completed, the process described in Section 6.3 applies.

Buyer Review Period and Deemed Confirmation. The Buyer must complete Shipping Information Confirmation within twenty-four (24) hours after the Seller submits (or resubmits) the shipping information. Where the Buyer neither confirms the information nor reports it as incorrect within that period, the shipping information shall be deemed confirmed, and Shipping Information Confirmation shall be treated as completed at the expiry of that period.

6.3 Completion and Non-Response

(a) At any time after Shipping Information Confirmation is completed, the Buyer may proactively confirm receipt of the item ("Receipt Confirmation").

(b) Where seventy-two (72) hours have elapsed since Shipping Information Confirmation was completed without Receipt Confirmation, the Platform will, upon the Buyer's next access to the relevant auction page, issue a mandatory prompt requiring the Buyer to confirm whether the item has been received (the "First Prompt").

(c) Where the Buyer confirms receipt in response to any prompt under this Section, the disclaimer and authorization process in Section 6.4 applies.

(d) Where the Buyer reports non-receipt in response to the First Prompt, and Proof of Delivery has by that time been completed, the matter proceeds directly to the dispute process under Section 7.

(e) Where the Buyer reports non-receipt in response to the First Prompt, and Proof of Delivery has not by that time been completed, the Platform will notify the Seller. A further mandatory prompt (the "Second Prompt") will be issued upon the Buyer's next access to the relevant auction page after a further forty-eight (48) hours have elapsed (that is, one hundred and twenty (120) hours after Shipping Information Confirmation was completed).

(f) Where the Buyer reports non-receipt in response to the Second Prompt, the matter proceeds to the dispute process under Section 7, whether or not Proof of Delivery has by that time been completed.

(g) Notwithstanding paragraphs (b) and (e), where the Seller completes Proof of Delivery at any time before a matter has proceeded to Section 7, the Platform may issue an immediate mandatory prompt upon the Buyer's next access to the relevant auction page; where the Buyer reports non-receipt in response to that prompt, the matter proceeds directly to the dispute process under Section 7.

(h) The process under this Section remains at all times subject to the Authorization Deadline. Where the applicable conditions for payment capture have not been satisfied and evidenced before the Authorization Deadline, Section 7.4(iv) applies.

6.4 Receipt Confirmation and Payment Release Authorization

Prior to finalizing any Receipt Confirmation under Section 6.3, the Platform will present the Buyer with a notice substantially to the following effect, and will require the Buyer's affirmative acknowledgment before proceeding:

"Please inspect the item before confirming receipt. Confirming receipt authorizes Gavelic to instruct the payment provider to release payment to the Seller. Once that instruction has been executed, Gavelic cannot reverse it and will not process a refund. Gavelic does not authenticate items: if you later discover the item is counterfeit, materially different from its description, damaged, or otherwise unsatisfactory, your claim lies against the Seller, and your legal rights against the Seller are not affected by this confirmation."

Receipt Confirmation constitutes the Buyer's final authorization for the Platform to instruct release of payment. The Platform has no obligation to withhold, reverse, or reprocess payment after the instruction has been executed. For the avoidance of doubt, Receipt Confirmation does not: (a) waive, release, or diminish any right or claim the Buyer may have against the Seller, including in respect of authenticity, quality, condition, or conformity; (b) exclude any liability of Gavelic that cannot lawfully be excluded, including liability for Gavelic's own fraud; or (c) purport to override any process available under the rules of the applicable card scheme or payment service provider, although the misuse of payment disputes remains prohibited under Sections 10 and 11.

7. Shipping Confirmation and Dispute Process

7.1 Limited Scope of Review

For Shipping transactions, Gavelic's review is limited to the shipping and delivery information submitted by the parties.

Gavelic does not determine:

  • authenticity
  • quality
  • condition
  • completeness
  • value
  • suitability of goods

7.2 No Automated Courier Integration; Manual Reference to Courier Records During Escalated Review

Gavelic does not integrate with, and does not automatically verify shipments against, any courier's tracking API or automated system. No real-time automated confirmation of delivery status is provided by any courier integration.

Where a matter is escalated for Platform review under Section 7.4, Gavelic staff will, as part of that review, manually refer to the tracking status published on the relevant courier's official website (for example, S.F. Express) using the tracking number submitted by the Seller, as the basis for the determination described in Section 7.4. A timestamped record of the information observed during this review will be retained as part of Gavelic's transaction records under Section 14.

Outside of an escalated review under Section 7.4, delivery status is determined solely according to the confirmation and response process described in Sections 6.2 and 6.3.

7.3 Determination Following Buyer Confirmation

Where the Buyer confirms receipt under Section 6.3, delivery is treated as completed and payment processing proceeds in accordance with Section 6.4.

For the avoidance of doubt, Shipping Information Confirmation under Section 6.2 does not, by itself, constitute confirmation of receipt and does not trigger payment release.

7.4 Non-Receipt or Disputed Shipment

Where a shipping dispute is escalated for review, Gavelic shall determine the outcome solely by reference to the final tracking status shown on the relevant courier's official website, as follows:

(i) where the shipment is shown as delivered or signed for, Gavelic will instruct release of payment to the Seller;

(ii) where no delivery record exists, Gavelic will instruct cancellation of the transaction and release of the payment authorization;

(iii) where the shipment remains in transit, the review period may be extended by up to seven (7) additional days before a further determination is made, provided that no review or extension shall continue beyond the Authorization Deadline; and

(iv) where no determination under paragraph (i) or (ii) has been made by the time the Authorization Deadline is reached — including where the shipment remains shown as in transit — the transaction shall be cancelled and the payment authorization released.

A cancellation under paragraph (iv) reflects only the expiry of the payment authorization under the rules of the payment service provider and card networks. It is not a determination of any right or liability between the Buyer and the Seller, and does not extinguish, affect, or adjudicate any claim either party may have against the other, which may be pursued through any lawful means.

7.5 Nature of Platform Decision

Users acknowledge that any determination made by Gavelic under this Section 7:

  • only controls the Platform's instruction to the payment provider regarding release or refund of payment
  • reflects Gavelic's own assessment of the shipping and delivery information available to it, and is not a legal judgment, arbitration, or binding determination of any legal right or liability between Buyer and Seller
  • is not an authentication of the item, and does not constitute any finding as to whether the item conforms to its listing description
  • constitutes solely a payment routing instruction (for release or cancellation of payment) based on objective available data, and does not constitute an arbitration award under the Arbitration Ordinance (Cap. 609), nor does it constitute a binding legal judgment of any right or liability between the Buyer and Seller

Any dispute between Buyer and Seller regarding matters excluded under Section 7.1 — including without limitation the authenticity, quality, condition, or conformity of the item — remains solely between the parties and may be pursued through any lawful means available to them.

8. Transaction Fees

8.1 Applicable Fees

Applicable fees for each Protected Auction transaction will be displayed during checkout.

Fees may include:

  • Buyer service fees
  • Seller service fees
  • applicable third-party payment processing fees

The checkout page represents the final fee schedule applicable to that transaction.

8.2 Fee Responsibility

Each party agrees to pay the applicable fees shown during checkout.

Fees may be automatically deducted through the payment provider.

9. Cancellation and Failure to Complete Transaction

9.1 System Cancellation

Without limiting Section 9.2 or any other specific cancellation trigger set out in this Agreement, a transaction may be automatically cancelled by the Platform's system where any of the following occurs:

(a) the Buyer does not complete payment authorization within the prescribed time under Section 3.1;

(b) a payment authorization or renewal attempt fails, is declined, or is not refreshed within the applicable period under Section 3.3;

(c) KYC requirements are not satisfied;

(d) the parties fail to achieve a matching handover method selection within the required period or after the maximum permitted attempts under Section 4.2;

(e) the Seller fails to submit, or fails to correct upon resubmission, the required shipping information within the prescribed time, or such information is confirmed by Platform review under Section 6.2 to be non-compliant;

(f) the Authorization Deadline is reached before the applicable transaction conditions for payment capture have been satisfied and evidenced, including under Section 7.4(iv);

(g) prohibited activity is detected; or

(h) technical or legal restrictions apply.

For the avoidance of doubt, this Section 9.1 is a non-exhaustive summary of, and does not narrow, limit, or override, the specific cancellation triggers and procedures set out elsewhere in this Agreement (including Sections 3.1, 3.3, 4.1, 4.2, 5.1 to 5.3, 6.1 to 6.3, 6.2A, and 7.4).

9.2 Buyer or Seller Breach

Where a party intentionally fails to complete a transaction, Gavelic may:

  • restrict account access
  • record transaction misconduct
  • take action under the Gavelic Terms and Conditions

9.3 Technical Cancellation vs. Civil Liability

Where the Platform's system allows a party to unilaterally cancel a transaction prior to handover (for example, a Seller cancelling a Meetup transaction due to item unavailability), such technical cancellation immediately releases the Buyer's payment authorization to protect user funds. However, users explicitly acknowledge that this technical mechanism does not waive, release, or alter any civil liability for breach of contract that the cancelling party may owe to the other party under their underlying contract of sale.

10. Fraud Prevention and Transaction Integrity

Users must not:

  • manipulate auction outcomes
  • conduct fake transactions
  • provide false shipping information
  • misuse payment disputes
  • abuse refund processes

Gavelic may suspend transactions where suspicious activity is detected.

11. Chargebacks and Payment Disputes

11.1 A chargeback is a payment dispute raised through the Buyer's card issuer under the rules of the applicable card scheme. Chargebacks are processed under the Seller's own direct agreement with the payment service provider (including the Seller's Stripe Standard Account agreement) and are matters between the Seller and the payment service provider. Gavelic is not a party to that agreement, does not adjudicate chargebacks, and is not liable for any amount, dispute fee, or negative balance debited by the payment service provider from the Seller's connected account.

11.2 Upon request by the Seller or the payment service provider, Gavelic may provide relevant Platform records (including bidding records, confirmations, OTP verification records, shipping records, and transaction status records under Section 14) to assist in responding to a chargeback or payment dispute.

11.3 Where a chargeback or payment dispute is raised in respect of a transaction that has not yet completed under this Agreement, the Platform will flag the order, suspend the automated procedures of this Agreement for that transaction (including automatic cancellation timers and automatic authorization renewal under Section 3.3), and handle the matter manually. Where the underlying authorization or payment is reversed, withdrawn, or otherwise ceases to be available as a result, the transaction will be cancelled.

11.4 Initiating a chargeback or payment dispute in bad faith, or misusing dispute or refund processes, constitutes a breach of Section 10 and of the Gavelic Terms and Conditions, and may result in account restriction and recovery action where legally permitted.

12. No Product Warranty or Authentication

The Buyer and Seller acknowledge:

Gavelic does not guarantee:

  • authenticity
  • originality
  • quality
  • condition
  • functionality
  • ownership rights

The Buyer purchases based on information provided by the Seller.

13. Limitation of Liability

To the maximum extent permitted by Hong Kong law:

Gavelic shall not be liable for:

  • disputes between Buyer and Seller
  • item defects
  • counterfeit goods
  • shipping issues
  • user fraud
  • transaction losses caused by user actions

Gavelic's maximum liability relating to a Protected Auction transaction shall not exceed the service fees actually received by Gavelic from that transaction, except where liability cannot legally be excluded.

Nothing in this Agreement excludes or limits any liability that cannot be excluded or limited under Hong Kong law, including liability for death or personal injury caused by negligence, or liability for fraud or fraudulent misrepresentation.

14. Electronic Records

Users agree that Platform records may be used as evidence of:

  • bids
  • confirmations
  • OTP verification
  • payment authorization
  • shipping records
  • transaction status

15. Governing Law

This Agreement shall be governed by the laws of the Hong Kong Special Administrative Region.

Any dispute arising from this Agreement shall be subject to the exclusive jurisdiction of the courts of Hong Kong.

14.1 Third Party Rights. A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) to enforce any term of this Agreement.

16. User Confirmation

By participating in a Protected Auction, the Buyer and Seller acknowledge that:

  • they have read and accepted this Agreement
  • Gavelic provides technology-based transaction procedures only
  • Gavelic does not hold user funds
  • Gavelic does not authenticate goods
  • payment release is based on predefined objective transaction events
  • the Buyer and Seller remain solely responsible for their underlying sale contract
  • payment authorizations are subject to validity periods set by third parties, and a transaction that cannot be completed before the Authorization Deadline will be cancelled and the authorization released
  • Gavelic will never capture or hold transaction funds in order to keep a transaction open beyond the Authorization Deadline