Owners and Shoppers can use the Card Value Points (CVPs) that they
have accumulated to bid for 1 item per auction in the CVP Auction.
The CVP Auction
is unlike most other Internet-based auctions because eCosway is giving
out the auction items for free to the highest bidders. There is no
selling on the site. Participants can 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 Shoppers agree to accept
and abide by the Auction Rules and Regulations listed below.
auction is only open to eCosway's Business Owners and Shoppers in
participating countries who have accumulated CVPs from various eCosway
programs (hereinafter referred to as "Participants"). Your
participation in the CVP Auction is subject to the eCosway Terms of
- Your Privacy
eCosway is committed to protecting privacy. Please refer
these Rules and Regulations by this reference. eCosway may change
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
The official date
and time for the auction will be the Server Time displayed on the
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.
Each auction item
is given a closing priority number that appears alongside the auction
number in the auction hall.
- 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.
Minimum CVP Bid Amount
may bid any number of CVPs for an auction item. eCosway
does not set a minimum number of CVPs for bidding, so
bids can start from as low as 1 CVP.
may place as many bids as they like but can only bid for
one (1) item per auction and can only have 1 active bid
at any one time. They will need to withdraw any existing
bid before placing a bid on a different item.
bids are confidential and the highest bid(s) are not revealed
until after the auction is closed and the result is known.
may change their bids at any time by logging into their
Online Office 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.
the event of a tie for the highest bid, the earliest bid
received by eCosway shall be the successful bid.
When an auction is closed, eCosway will verify that winning bidders
have enough CVPs to cover their bids. If there are insufficient CVPs
in a bidder's account, the System will automatically revise the bid
to reflect the actual number of CVPs available.
four bids are received from A, B, C and D as follows:
A bids 100 CVPs; B bids 90 CVPs; C bids 80 CVPs,
D bids “All Available CVPs”.
When the auction closes, the bidders' accounts have the following
A has 75 CVPs; B has 85 CVPs; C has 86 CVPs, D has 70 CVPs.
eCosway will consider
B the highest bidder,
followed by C and A, and finally D, because:
Winning bidder B -- B's bid of 90 CVPs has been adjusted
down to 85 CVPs.
2nd highest bidder C -- C's bid remains at 80 CVPs
because he had sufficient CVPs to cover his original bid at the close
of the auction. The other 6 CVPs remain in his account.
3rd highest bidder A -- A's bid of 100 CVPs has been
adjusted down to 75 CVPs.
Lowest bidder D -- D’s bid of “All Available
CVPs” is 70 CVPs as these were all he had in his account at
the close of the auction.
(Note: If C had
changed his bid to 86 CVPs or “All Available CVPs” before
the auction closed, C would have been the highest bidder.)
that the auction results shall also be subjected to CVP Deduction
according to Rule 7.
The CVP Auction Results page will display the winning bid for each
item along with the eCosway ID numbers of the Participants who have
placed these bids.
The auction results will be posted 10 days from the closing date of
Value Point Deduction
One or more CVPs that are available in a Participant's account on
the closing date of an auction might be subsequently cancelled. This
can happen if a Participant whose program registration or participation
that generated CVP(s) before the closing date of the auction is cancelled
will be carried out over a period of 10 days following the closing
date of the auction.
If such deductions
of CVPs materially affect an auction result, eCosway reserves the
right to revise the auction results. A Participant cannot use CVPs
earned after the close of an auction to substitute for CVPs that are
cancelled for reasons stated above. There are no positive adjustments
to CVPs for purchases made or program introductions, registrations
or participation done during the 10-day period following the closing
date of the auction.
- Auction Freight Charges
Winners are required to bear all freight and tax charges incurred
for prize delivery. If the winning bidder fails to pay within the
30 days, he/she will be disqualified and will not be eligible to
claim the prize and the CVPs used for the bid will not be returned
to Winning Bidder
Upon determining the final auction results, eCosway will notify each winning bidder only by email based on the contact details on record in the winning bidders My Profile. Notification is deemed given as of the date and time eCosway sends out the email. Participants should keep their contact details and email address 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 30 days from the date of the winning notification email, he/she will be disqualified and will not be eligible to claim the prize and the CVPs used for the bid will not be returned to him/her.
Collection must be made within the specific date stated on the winning notification email sent to the winning bidder. If the winning bidder fails to collect the auction item on time, the winning bidder will be disqualified and will not be eligible to claim the auction item, and the CVPs used for the bid will not be returned to him/her.
Please note that winners are required to bear all freight and tax charges incurred for prize delivery. Certain prizes may not be deliverable to certain areas. If we are not able to deliver a prize to a certain area, the winners will be offered an option of receiving cash or a different prize of similar value, or to collect the prize at a selected Sales Centre. Do note that in an event where winners are given the option to receive cash in-lieu, the cash equivalent given will be at 70% of the value of the prize won as published in our auction mall. This is applicable to non-Cosway products only, and the company reserves the right to determine the cash value of all prizes and all decisions made by the Company are final.
- Errors and Omissions Excepted
The accuracy and
validity of the information and contents herein is correct to the
best of eCosway's knowledge. eCosway shall not be held liable
for any error, outdated information and/or any consequence thereof.
eCosway reserves the right to amend the contents and information
herein without notice.
Items, prices and
details are correct at time of publishing. While every reasonable
effort has been made to portray items in an accurate and up-to-date
manner, eCosway reserves the full right to replace any featured item
with one of similar retail value and similar model of like kind, quality
and functionality without prior notice.
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" on 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 AUCTION 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.