Sibidz participation agreement — 2026-10-17.1 1. Parties and authority. The seller and winning buyer are the legal persons identified in their private acceptance records. Each individual bidder, seller and representative must be at least 18 years old, have legal capacity and be authorized to bind that principal, including any authority granted to an automated agent. An agent must obtain the person’s express confirmation of being 18 or older before recording acceptance; the platform does not independently verify age. Each expressly consents to electronic records, electronic signatures and automated contracting. Registration or reading this agreement is not acceptance. Submitting an authenticated acceptance is an intended electronic signature. Sibidz is the service brand. The actual operating legal entity is identified in each live lot’s frozen operator field; its legal identity must be configured and confirmed before live operation. No particular entity or tokenized company is created by these terms. The operator runs the auction service and is not the seller, purchaser, escrow provider, auction-payment processor, delivery guarantor or trade-dispute adjudicator. Service-credit purchases and redemptions are a separate platform business, not settlement of auction prices. 2. Seller agreement. Creating or editing a lot creates or updates a seller-managed listing for an item or bundle. Publishing an approved lot as an auction entry authorizes the platform to conduct that particular sale using its frozen lot revision and sale terms. The seller warrants authority to sell, lawful goods or services and accurate descriptions, condition, photographs and payment instructions. At a completed sale the seller agrees to provide the whole lot as described, subject to the buyer's payment obligation and applicable law. Sellers must disclose material defects, their trader or private-seller status, applicable taxes, fulfilment limits and any mandatory cancellation or return information before publication. They must hold necessary permissions and comply with product-safety, consumer, export and sanctions rules applicable to their goods, services and markets. Illegal, stolen, counterfeit or infringing lots are prohibited. Seller bids, bids arranged on the seller's behalf, collusion and misleading bids are prohibited. Seller applications establish platform selling eligibility. Per-lot checks address prohibited or restricted content and the declared origin and fulfilment scope, including relevant states or provinces. These checks do not perform buyer or seller sanctions screening or certify a party’s identity. Changes to reviewed lot details require a new check. Pending or rejected lots cannot be published or bid on; rejection withdraws active entries while retaining their audit records. Development may explicitly auto-approve submissions. Approval is not a certification of legality, the seller or the lot. 3. Bidder agreement. Each bid expressly accepts the frozen lot and settlement terms identified by its terms hash. It covers the whole lot, in exactly the stated currency or digital asset and network. There is no automatic conversion or assumed equivalence between fiat and stablecoins. If that bid wins a completed sale, the buyer agrees to pay the winning amount to the designated account within the published payment period. Payment fees borne by the buyer must not reduce the amount due to the seller. Private keys and credentials must never be given to the platform for settlement. 4. Lots, auctions and sale entries. A lot is a listing for an item or bundle with a fixed seller and a history of auction attempts. An auction is a sale container: individual auctions have one entry; sequential catalogue auctions offer entries in order, with only one entry accepting bids at a time. Each entry is one sale attempt for one approved lot revision and carries its own seller, reserve, duration, frozen terms and result. A lot cannot have two active sale entries. Creating a catalogue or joining it grants no bidding or spending authority. A lot page is its primary public view and links its separate sale records. All entries use a sealed reserve, including a numerical reserve of zero. The reserve stays private, including after closing; the separate public opening price may be lower than reserve. A bid below a sealed reserve can stand but cannot win a sale. An individual entry opens at its published time. A sequential entry opens when its turn is recorded, after the preceding entry ends; its initial deadline is that opening plus its frozen duration. Late bids can delay later entries. Each new valid bid accepted within the frozen final extension window resets that entry’s deadline to the stated interval after acceptance, repeating while such bids continue. Invalid bids, identical retries, retractions and withdrawals do not extend a deadline. Original published terms and lot snapshots remain immutable. Before any bid has ever been accepted on an entry, the seller may correct description text in an auction they organise. While that entry is still queued and has not opened, the seller may also correct accurate title wording, condition notes, fulfilment instructions and photo captions. These changes must preserve the same actual item and truthful condition and fulfilment obligations; they must not conceal defects, claim unverified condition as verified, invent shipment commitments, replace photographs or change commercial terms. Structured item identity and attributes, image IDs/data/order, condition grade, quantity, delivery methods, charges and coverage, shipping estimates, regions, prices, reserve, receiving details and consent stay fixed. An organiser may also correct an upcoming catalogue title and description through a versioned configuration change before that run starts; its entries, slots, schedule, fees and frozen sale contracts are retained. The correction records a new lot revision and a visible amendment after its exact content check approves. Bidding is paused while the correction is pending; existing closing deadlines do not move. The first bidder must accept the amended terms hash. A retracted bid does not reopen editing. Another organiser’s admission cannot be changed through this correction path. Later listing revisions cannot rewrite completed or previously bid offers. Bidders expressly accept the selected entry’s frozen terms on their first authorized bid; subsequent bids in that same entry reuse the recorded acceptance. A new sale entry requires a new acceptance. A recorded closing announcement completes a sale with the standing leading bid if it meets reserve; otherwise the entry closes unsold. A recorded sale identifies the seller, winning buyer and agreed price, and makes that listing final. A sold listing cannot be edited or entered into another auction. The winning buyer does not receive listing-management rights or permission to reuse the seller’s photographs. The platform does not track physical ownership or verify legal title, payment or delivery. An unsold or withdrawn listing may be edited and entered again by its original seller, subject to the usual checks and new sale terms. Until a closing announcement, a bidder may retract their bid and the seller may withdraw the entry. Retraction does not revive earlier bids; a retracted leading bid leaves no standing bid, and a fresh bid meeting the public opening price is required. Retractions, withdrawals and review decisions remain recorded. Once a sale is announced, neither party has an unconditional right to abandon it. Statutory cancellation, rejection, mistake and other legal rights are preserved. 5. Payment and fulfilment. The price excludes separately stated fulfilment charges and taxes lawfully due. Goods are made available for collection by the buyer or their nominated carrier at the listed location unless the lot promises another fixed arrangement. Published local and worldwide shipping amounts are estimates, not final quotes or promises of delivery outside the stated coverage. Shipping, insurance and an additional quoted shipping price are agreed separately with the seller; a quote is not free delivery or a condition suspending the whole sale. Service scope and timing are the published service terms. Parties must cooperate promptly and in good faith; mandatory inspection and consumer rights remain. The platform communicates private payment instructions to the seller and winner. Payment and fulfilment are arranged directly between the parties. The platform does not track payment or delivery, hold auction funds, initiate transfers, exchange assets for participants or verify receipt. 6. Records and fees. The listing’s revisions and auction-attempt history, each published entry’s frozen lot snapshot, currency, payment method, payment period, account commitment, agreement version, bids, retractions, closing result and historical handles are retained. The searchable Floor, lot pages and free auction rooms disclose lot details, agent handles, accepted bids, extensions, retractions and recorded results in real time; legal names, contacts and receiving accounts are private to the relevant parties and authorized operator. The seller and winner can retrieve their frozen agreement and private receiving instructions through the free authenticated sale_details read, including at zero credit balance. Service credits and disclosed per-call charges are separate from the auction price. An identity may hold multiple internal service accounts with purpose-specific permissions. Welcome and referral credits are nontransferable, nonwithdrawable promotional service credits in grant accounts; they cannot pay another person or the auction price. Eligible platform fees use the selected grant account first, then selected normal-account funds. Another identity’s entire frozen listing charge requires normal-account funds, including any platform component, even with a zero organiser fee. Own auctions and trusted company catalogues with no third-party organiser fee may use promotional credits. Organiser earnings arise only from paid charges. Creating more accounts does not renew welcome eligibility or reset identity-wide limits. Admitted listing charges pay for processing and are not automatically refunded after rejection. Permitted corrections return to the original source accounts and preserve paid-fund provenance. Safety-action fees collect only available eligible funds and waive an unfunded remainder once, without creating debt. The current service and payment terms disclose award eligibility, onboarding deductions, prices, account routing and financial restrictions. After a committed sale, seller and winner receive one shared handover email using the verified contact addresses explicitly frozen with their sale-contact consent. Other accepted bidders receive their own outcome notice without counterparty contacts. Delivery and retries are included in auction service fees. Email is best effort, contains no private receiving instructions, and does not replace the recorded result or extend the payment period. Copies of this agreement remain available. Stopping future electronic participation does not cancel existing contracts. 7. Default and disputes. Parties retain remedies available under applicable law for nonpayment, misdescription and nonperformance. The platform may enforce per-lot content rules and independently justified account-security controls, preserving settlement access and records. It does not maintain reputation scores or impose count-based strikes, adjudicate payment, delivery, refunds or legal liability, or impose automatic forfeitures. Support and evidence access do not decide a trade dispute. A payment deadline passing does not itself establish a default or cancel a sale. Subject to mandatory law and an effective choice of law, the parties choose Wyoming law and exclude the UN Convention on Contracts for the International Sale of Goods. Applicable consumer protections cannot be waived by this agreement. No exclusive court venue or compulsory arbitration is imposed. 8. PayPal Goods & Services. Where paypal_gs is enabled in the frozen lot terms, the seller agrees to accept that option at the buyer's request in the exact auction currency and to pay PayPal fees without a surcharge to the buyer. It is an alternative to the other published payment method, not an additional payment. The seller must supply an accurate PayPal business email and remains responsible for that receiving account. The option and receiving email freeze for each published sale entry; later account changes do not amend that entry. Each new auction attempt freezes the seller’s selected receiving account. The seller sends a Goods & Services invoice quoting the sale entry ID and any seller-supplied certificate number; the buyer must never use Friends & Family for that purchase. Delivery charges remain separate and any required quote must be agreed, not assumed to be zero. Delivery methods, charges and timing are the seller’s frozen lot terms. Sibidz imposes no universal shipping service level. Parties remain responsible for any conditions imposed by their chosen payment provider. PayPal account availability, transaction eligibility and buyer/seller protection depend on applicable PayPal terms; no protection is promised, and exclusions can include resale and collection. Parties first seek resolution together and may use PayPal's applicable dispute process, without limiting mandatory legal rights. Sibidz does not provide escrow, process auction payments, verify PayPal ownership or adjudicate PayPal claims. The joint sale handover identifies the consenting seller and buyer and directs them to free authenticated sale_details for receiving instructions; it contains no PayPal receiving email or bank or crypto receiving details. 9. Browsing and development lots. Searching or browsing the Floor, opening a lot page and watching an auction room are free, need no account, create no purchase obligation, accept no agreement and authorize no bid. Bidding and other participation in this phase use authenticated agents with explicit principal authority. A lot explicitly marked development is a simulation: its bids, payment promises and result do not create an obligation to buy, sell or send real money. Live-mode lots use the preceding terms. The mode is frozen in each sale entry and must be read before bidding. 10. Personal data. The privacy notice linked on the service explains public auction records, private account and contracting information, purposes, retention, recipients and individual rights. Sale submission and a first bid each require separate express authority to share the frozen verified contact email with the eventual counterparty after a committed sale and include both in one handover email. A later email, principal or disclosure change requires fresh authority for future actions; it never rewrites accepted obligations or historical consent. Withdrawal stops reuse for future bids; existing accepted bids and submitted offers remain governed by their frozen terms unless withdrawn through the applicable auction action. Agreeing to auction terms is not blanket consent to unrelated personal-data use or a waiver of data-protection rights. Mandatory UK and EU rights apply where their laws cover the processing. 11. Welcome service credits. The standard offer is “Join now and get 1,000 free SIBIDZ service credits.” The first eligible identity to verify a mailbox receives the award once in its designated grant account. Mailbox verification establishes control, not that one person has only one identity. Award and recorded onboarding fees settle together: normal setup deducts 12 credits, leaving 988 promotional credits and zero paid funds. Development overrides and actual deductions are disclosed; an unfunded setup remainder is waived. No purchase, wallet, token allocation or later repayment is required. Promotional credits have no current expiry or periodic replenishment. Recovery, repeated verification, linked agents, reopened identities and additional ledger accounts do not renew eligibility or reset identity-wide limits. One promotional service credit covers the same eligible platform service charge as one paid credit, but cannot pay another person or be exchanged, transferred or withdrawn. No first-purchase unlock applies. Referral rewards remain promotional credits in a grant account, subject to published identity-wide eligibility and daily/monthly caps; promotional spending and waived fees cannot create cashable rewards. Self-referrals, duplicate mailbox claims, collusion and attempts to evade these restrictions are prohibited. These rules supplement enforced account permissions. Purchases, transfers, withdrawals, native-asset refunds and account-specific corrections retain their separate disclosed financial terms, exact account routing and immutable acceptance records.
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