Refund and EMD Policy

This policy explains when money paid to DeltaGuard Global Auctions is refunded. Refunds are made by bank transfer to a bank account in your own name that we have verified. No interest is paid on any deposit or refund. 1. Earnest money deposit (EMD) - If you do not win an auction, your EMD is refunded after the auction concludes. - If an auction is cancelled before it closes, the EMD of every bidder is refunded. - If you win, your EMD is held against your purchase: it may be adjusted against what you owe, or refunded once the sale is complete. - If you win and do not pay within the time allowed, or you breach our Terms of Use, DeltaGuard may forfeit all or part of your EMD. The reason is shown to you. 2. Validation Fee The Validation Fee a seller pays before their auction is published is refundable: - When the sale completes, the Validation Fee is refunded to the seller in full. - If the auction ends without a sale or is cancelled, DeltaGuard decides whether to refund part of it; the minimum Validation Fee, where one applies, is not refunded. The Validation Fee carries no GST, and a receipt is issued for it. 3. Seller fees paid in advance If a seller pays their seller fees before the payout and the sale is then cancelled, DeltaGuard refunds the fees it decides are due. 4. Other fees Membership, verification and inspection fees pay for work already done or a period of access, and are not refunded, except where DeltaGuard cancels the service or the law requires a refund. 5. How and when refunds are made We send refunds by bank transfer and record the bank reference (UTR), which you can see on your dashboard. The following refunds are sent within 7 working days (Monday to Friday, excluding bank holidays) of becoming due: - an EMD refunded because you did not win: from the end of the auction; - an EMD refunded because the auction was cancelled: from the cancellation; - a winner's EMD, or the part not used towards the purchase: from its release after the sale completes; - a Validation Fee refunded because the sale completed: from the completion of the sale. If you do not yet have a verified bank account in your name, the 7 working days run from when it is verified. Refunds that DeltaGuard decides on (part of the Validation Fee on an unsold lot, or seller fees paid in advance on a cancelled sale) are sent when the decision is made. Your dashboard shows the date each refund is due by. 6. Questions If a refund has not reached you, contact support with the auction or transaction reference. If the matter is not resolved, you may raise it with our grievance officer.