Business Owners and Registered Shoppers can use their Value Points (VPs) to bid for up to 1 item in the Amazing One Dollar Auction. The Winning Bidder pays only US $1, all applicable freight charges for the auction item, and the number of Value Points used for the bid.

The One-Dollar Auction is unlike most other Internet-based auctions because eCosway is the only seller and owner of all auction items. There are no other sellers at the site. Participants bid on the items up for auction but they cannot offer goods or services for sale in the eCosway auction.

By placing a bid on an auction item, Business Owners and Registered Shoppers agree to accept and abide by the Auction Rules and Regulations listed below.

1. Intended Audience

   The auction is only open to eCosway's Business Owners and Shoppers (hereinafter referred to as "Participants"). As such, the Business Owner Terms and Conditions and the Shopping Terms and Conditions are incorporated herein by reference. Your participation in the One Dollar Auction is also subject to the eCosway) Terms of Use.

2. Your Privacy

   eCosway is committed to your privacy. Please refer to our Privacy Policy which is incorporated into and made a part of these Rules and Regulations by this reference. eCosway may change the Privacy Policy in the future.

3. Auction Commencement and Closure

   The commencement and closing date and time of each auction is determined by eCosway at its sole discretion and will be posted in the auction hall.

   The official date and time for the auction will be the Server Time displayed on the eCosway website.

4. Interruption to Auction

   eCosway reserves the right at all times to cancel, restart or extend an auction as circumstances dictate or in the event of technical problems. eCosway cannot be held liable for Server Down Time or Participants' inability to access the auction website.

5. Auction Product Price
   
   The recommended price for the auction items are correct at the time of publishing and are not influenced by the fluctuation of market prices.
   
   
6. Bidding
   
   

   6.1	No Minimum Bid Amount
   	Participants may bid any number of Value Points for an auction item. eCosway does not set a minimum bid amount. (But you cannot exceed the number of Value Points that you actually have available at the time you place your bids.)
   6.2	Maximum Bid
   	Participants may place as many bids as they like but they can only bid for one (1) item per auction.
   6.3	Secrecy of Bids
   	All bids are secret and the highest bid(s) are not revealed until after the auction is closed and the result is known.
   6.4	Changing Bids
   	Participants may change their bids at any time before the close of the auction. eCosway System will compute the date and time of the latest change as the effective date and time of a Participant's bid for an auction item. .
   6.5	Tie Bids
   	In the event of a tie for the highest bid, the earliest bid received by eCosway shall be the successful bid.

   
   
7. Auction Results

When an auction closes, eCosway will verify that winning bidders have enough Value Points to cover their bids. If there are insufficient Value Points in a bidder's account, the System will automatically revise the bid to reflect the actual number of Value Points available.

For example, four bids are received from A, B, C and D as follows:
A bids 100 Value Points ; B bids 90 Value Points ; C bids 80 Value Points , D bids “ All Available Value Points ”.
When the auction closes, the bidders' accounts have the following Value Points:
A has 75 Value Points; B has 85 Value Points; C has 86 Value Points, D has 70 Value Points.

eCosway will consider B the highest bidder, followed by C and A, and finally D, because:
Winning bidder B -- B's bid of 90 Value Points has been adjusted down to 85 Value Points
2nd highest bidder C -- C's bid remains at 80 Value Points because he had sufficient Value Points to cover his original bid at the close of the auction. The other 6 Value Points remain in his account.
3rd highest bidder A -- A's bid of 100 Value Points has been adjusted down to 75 Value Points
Lowest bidder D -- D’s bid of “All Available Value Points” is 70 Value Points as these were all he had in his account at the close of the auction.

(Note: If C had changed his bid to 86 Value Points or “All Available Value Points” before the auction closed, C would have been the highest bidder.)

Please note that the auction results shall also be subjected to Value Points Deduction according to Rule 8.

eCosway shall announce the auction results in the auction hall within forty five (45) calendar days after the close of each auction. This announcement will display the winning bid for each item along with the eCosway ID numbers of the Participants who have placed these bids.

8. Value Point Deduction

One or more Value Points that are available in a Participant's account on the closing date of an auction might be subsequently cancelled. This can happen if an order that generated a Value Point before the closing date of the auction is cancelled, or an item is returned, or there is a credit card charge-back.

Value Point Deduction will be carried out over a period of 45 days following the closing date of the auction.

If such deductions of Value Points materially affect an auction result, eCosway reserves the right to revise the result and offer the auction item to the next highest bidder. A Participant cannot use Value Points earned after the close of an auction to substitute for Value Points that are cancelled for reasons stated above. There are no positive adjustments to Value Points for sales made during the 45 days period following the closing date of the auction.


9. Notice to Winning Bidder

Upon determining the final auction results eCosway will notify each winning bidder by electronic notification (email) to the email address on record. Notification is deemed given as of the date and time eCosway sends out the email. Participants should keep their email addresses at eCosway updated. eCosway is not responsible for any winning bidder's failure to receive notification for whatsoever reason. If eCosway does not receive a reply from the winning bidder within 7 days from the date of the winning notification email, a second email will be sent as a reminder. If the winning bidder fails to reply the second email or contact us within 30 days of receiving that second email, he/she will be disqualified and will not be eligible to claim the prize.

10. Auction Payment

A winning bidder claims the auction item by making a payment of US$1 and the freight charges to eCosway. eCosway automatically deducts the number of Value Points bid from the Participant's account. Freight charges will depend on the weight and size of the auction item and the delivery address which the winning bidder specifies. The winning bidder shall bear any duty and tax the destination country may impose on the item he or she wins.

10.1	Mode of Payment
	Payment can be made by VISA or Mastercard, or through the Winning Bidder's eAccount. Other modes of payment may be accepted at the sole discretion of eCosway.
10.2	Time Allocated for Payment
	Payment must be made within 30 days from the date of electronic notification. Should the Winning Bidder fails to pay within the 30 days, the next highest bidder will replace him/her as the winning bidder and shall be entitled to claim the auction item. The winning bidder will have to forfeit the difference between his/her winning bid amount and the bid amount of the next highest bidder who wishes to accept the auction item and be notified via email and given 30 days to pay. For example: A won the auction item with 5000 Value Points but decides to forgo the item. B, the second highest bidder is the default winner with 4500 Value Points but also decides to forgo the item. C, the third highest bidder becomes the winner with 4000 Value Points and decides to claim the item. Hence A would have 5000 - 4000 = 1000 Value Points deducted from his account. And B would have 4500 - 4000 = 500 Value Points deducted from his account. If necessary, this process shall continue until a Participant ultimately claims the auction item by timely payment of the US$1 and the applicable freight charges.



11. Auction Prize Collection
    

    Collection must be made with within 30 days from the date stated on the prize exchange letter mailed to the winning bidder. Should the winning bidder fail to collect the auction item on time the winning bidder will be disqualified and will not be eligible to claim the auction items, the next highest bidder will replace him/her as the winning bidder and shall be entitled to purchase the auction item. The winning bidder will have to forfeit the difference between his/her winning bid amount and the bid amount of the next highest bidder who wishes to purchase the auction item and be notified via email and given 30 days to pay.

    For example:

    A won the auction item with 5000 Value Points but decides to forgo the item.
    B, the second highest bidder is the default winner with 4500 Value Points but also decides to forgo the item.
    C, the third highest bidder becomes the winner with 4000 Value Points and decides to claim the item.

    Hence A would have 5000 - 4000 = 1000 Value Points deducted from his account.

    And B would have 4500 - 4000 = 500 Value Points deducted from his account.

    If necessary, this process shall continue until a Participant ultimately claims the auction item by timely payment of the US$1 and the applicable freight charges.
    
    
12. Illegal Activity

The auction website and services may only be used for lawful purposes and in a lawful manner. Participants agree to comply with all applicable laws, statutes and regulations regarding use of the website and services, including those regarding bidding. Participants may not register as Business Owners or as Shoppers under a false name or use an invalid or unauthorized credit card. Participants may not make bids under a false name, impersonate any Participant, or use another Participant's identification number (ID) and/or password(s) or website address (URL). Such fraudulent conduct is a violation of state, provincial, territorial, and national laws. Fraudulent conduct may be reported to law enforcement, and eCosway will cooperate to ensure that violators are prosecuted to the fullest extent of the law.

13. Breach

Without limiting other remedies, eCosway may immediately issue a warning, temporarily suspend, indefinitely suspend, or terminate a Participant and refuse to provide its services to a Participant: (a) who breaches these Rules and Regulations or the documents incorporated herein by reference; (b) if eCosway is unable to verify or authenticate any information provided by the Participant; or (c) if eCosway believes that the subject Participant's actions may cause legal liability for the Participant, other Participants, or eCosway. In addition, any breach of these Rules and Regulations by a Participant may result, at eCosway's sole and absolute discretion, in the termination of the offender's Business Owner Agreement or status as a Registered Shopper, whichever is applicable.

14. License

eCosway grants a limited license to each Participant to make personal use only of the auction website and the services provided thereunder only in accordance with these Rules and Regulations and the documents incorporated herein by reference. This license expressly excludes, without limitation, any reproduction, duplication, sale, resale or other commercial use of the auction website and the said services (other than the buying of auction items in accordance with these Rules and Regulations), making any derivative of the auction website or the services, or any data extraction or data mining whatsoever.

15. eCosway's Rights

eCosway reserves the right without assigning any reason to exclude any Participant from bidding in the auction.

eCosway also reserves the right to vary and amend the Auction Rules and Regulations without prior notice. The relevant changes or amendments will be posted on the auction website and shall take effect immediately upon such posting. To ensure that you are always aware of the current version of the Auction Rules and Regulations, please click on the "Auction Rules and Regulations" at the Auction website. YOUR CONTINUED USE OF THIS WEBSITE AND THE SERVICES OFFERED HEREIN FOLLOWING eCOSWAY'S POSTING OF ANY CHANGES OR AMENDMENTS WILL CONSTITUTE YOUR ACCEPTANCE OF SUCH CHANGES OR AMENDMENTS. IF YOU DO NOT AGREE TO ANY CHANGES TO THESE RULES AND REGULATIONS, DO NOT CONTINUE TO USE THE SERVICES OR THIS WEBSITE.

The Auction results are deemed final. eCosway will not entertain any appeals against its decisions on auction results.