Thank you for visiting www.fundo.id.
Before using, accessing, or utilizing this Platform, please ensure that you have carefully read all of these Terms and Conditions (“T&C”). These T&C constitute the terms and conditions of Fundo in providing its Services.
By accessing and/or using our Service site, you declare that you have read, understood, and agreed to comply with and be bound by these T&C and the documents referenced herein.
Parties who do not have knowledge and/or experience regarding auctions, sales, or purchases through auctions, accounts receivable, buying and selling of accounts receivable, and/or trading of securities are not advised to use this Service.
We will publish any changes or amendments to these T&C (if any) through the Platform, and you are required to carefully read any changes or amendments. If you continue to use, access, or utilize the Platform, you are deemed to have acknowledged, understood, and agreed to such changes or amendments. Any fraud will be recorded digitally and may be disclosed to the public on social media.
1. DEFINITIONS
For the purposes of these Terms and Conditions, the terms defined in this Section and elsewhere in these Terms and Conditions shall have the following meanings:
a. Auction House is Fundo, domiciled at Jln. Situbondo No.10, Menteng, DKI Jakarta, Indonesia, an Indonesian legal entity in the form of a Limited Liability Company (PT) specifically established to conduct business activities in the auction sector.
b. Auction With Written Bids Without The Presence of Auction Participants Via The Internet (hereinafter referred to as “Internet Auction”) is a public sale of goods with written price bids and without the presence of auction participants to achieve the highest price, conducted through an internet-based auction application.
c. Internet Auction Organizer is the Auction House.
d. Class II Auction Official is a private auction official authorized to conduct Voluntary Non-executory Auctions.
e. Goods are any items or rights that can be sold through an auction.
f. Auction Announcement is a notification to the public about an upcoming Auction to attract auction participants and inform interested parties.
g. Platform is Fundo’s Internet Auction application available at https://fundo.id and all its microsites, as well as Android and/or iOS-based applications owned and provided by the Auction House, accessible by users via computer and/or mobile devices for conducting Internet Auctions.
h. Service refers to Pre-Auction Services, Auction Services, and Post-Auction Services provided by the Auction House to Service Users related to Internet Auctions based on an agreement between the Auction House and the Service Users.
i. Service Users (hereinafter referred to as “Users”) are users of the Auction House’s services, including Sellers, Auction Participants, and/or Buyers.
j. Service Agreement refers to the service agreement between the Auction House and Users, which may include the Internet Auction Sale Agreement, Internet Auction Purchase Agreement, Pre-Auction Service Agreement, or Post-Auction Service Agreement.
k. Seller refers to an individual, legal entity, business entity, or institution authorized by law or agreement to sell goods via auction and domiciled in the Republic of Indonesia.
l. Auction Participant refers to an individual, legal entity, or business entity that has met the requirements to participate in the auction.
m. Buyer refers to an individual, legal entity, or business entity that places the highest bid and is declared the auction winner by the Auction Official.
n. Technical Disruptions refer to disruptions occurring in the application and/or Platform, preventing the Internet Auction from being conducted by the Internet Auction Organizer.
o. Server Time refers to the time on the server device displayed on the Auction House’s Platform, serving as a time reference for all users of the Internet Auction service.
p. Business Days refer to Monday through Friday, excluding public holidays and/or national collective leave days determined by the government.
q. Auction Bid Guarantee refers to a sum of money deposited by an auction participant as a requirement to become an Auction Participant.
r. Law refers to all laws and regulations, including central and regional government regulations, ministerial regulations, decisions, policies, and technical implementation instructions that are legally binding within the territory of the Republic of Indonesia.
s. Terms and Conditions (“T&C”) refer to the Terms and Conditions imposed by the Auction House, which may be revised, amended, or supplemented from time to time at the discretion of the Auction House.
