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How the CVP Auction Works
eCosway Business Owners and Privileged Shoppers use Card Value Points (CVPs)
to bid for 1 item in the CVP Auction.
- Select from the items
up for auction and click on the “Bid” button
to view details of the item and to place
your bid. These items are "prioritized" according to market value,
from highest to lowest (i.e. An auction item indicated as Closing Priority
1 has a higher market value than an auction item indicated as Closing Priority
2, etc…).
- Enter
the number of CVPs that you wish to bid in the column provided or select “All My Available CVPs” and click “Bid Now” to
submit your bid. You will need to enter your ID and password if you are not
logged-in at the point of bidding.
- If
you wish to bid for some other item, you will need to delete your previous
bid first. To delete
a previous bid, go to “See Bids” under “My
CVP Auction Lounge” in your Online Office.
- All bids are private
and confidential. We will not disclose any bid information of any bidders
during an auction. Results of an auction will be posted online
once they have been finalized, after the auction.
- In
the event of a tie for the highest bid, the earliest bid received by eCosway
shall be the winning bid.
- You can change your bid
at any time until the close of the auction, but if you do so, the date and
time of your bid will be that of when the change
was made.
- At the close of the auction,
the bidder with the earliest and highest bid shall be the winning bidder
and entitled to claim the auction item.
- The winning bidder shall be notified only by email which on our record in their Online Office (under My Profile). The winning bidder is given 30 days from the date of the email is sent to collect the auction item. Participants should always keep their email address and contact details at eCosway updated. eCosway will not be responsible for any winning bidder's failure to receive notification for whatsoever reason
- The
winning bidder’s
CVPs used for the bid will be deducted by the system.
- 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.
- You
can view the winning bids by clicking on "View CVP Auction Results" in
your Online Office (under “My CVP Auction Lounge”) or on the
left menu bar of the auction page (under “CVP Auction”).
Good Luck!
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