Refund & Cancellation Policy

This Refund and Cancellation Policy governs the fees collected directly by Apex Exchange (the "Platform"). Apex operates strictly as a technology intermediary matching registered Buyers and Sellers. We do not own, inspect, or manage the physical handover of any vehicles.

1. SELLER FEES (LISTING & COMMISSION)

• Listing Fees (Retailers): Any upfront Listing Fee or Visibility Upgrades (like Featured Lot) purchased to list a vehicle on Apex are entirely non-refundable once the vehicle profile goes LIVE on the Platform. (Note: Standard listing fees are automatically waived for Verified Professional Dealers).
• Success Commission Fees: Once an auction successfully concludes, the winning Seller pays a percentage-based Success Fee (e.g., 2% to 3% of the final winning bid) to unlock the Buyer's secured contact details. Because this fee is paid post-auction and delivers immediate access to verified buyer data, this success fee is firmly non-refundable.
• Withdrawn Lots: If a Seller chooses to withdraw their vehicle from the auction prior to the end date without a valid mechanical/legal emergency accepted by our administration, no refund of any paid Listing Fees will be provided.

2. BUYER BID AUTHORIZATION HOLDS (DEPOSITS)

To ensure a high-trust environment, Apex requires Buyers to authorize a temporary hold (e.g., ₹2,000) on their payment method in order to place bids.

When Holds are Refunded / Released:

• Unsuccessful Bids: If you are outbid or do not win the auction, the hold on your payment method will be automatically released when the auction concludes. This usually reflects in your account within 5-7 business days depending on your bank.
• Successful Completion: If you win the auction and successfully complete the transaction with the Seller offline, the bid hold is released back to you.
• Seller Material Misrepresentation (No-Fault Rejection): If you win the auction, travel to inspect the vehicle, and discover that the vehicle has a material defect (e.g., severe flood damage, welded chassis) that was explicitly lied about or omitted in the online listing, you have the right to reject the vehicle without losing your hold. Apex will release your hold upon verification of the dispute.

When Holds are Forfeited (Non-Refundable Penalty):

• Buyer Default: If you placed the winning bid but refuse to honor the agreed price, become entirely unresponsive to the Seller/Platform, or back out simply because you changed your mind (buyer's remorse), your Bid Hold will be captured and forfeited as a penalty for disrupting the auction.

3. VEHICLE PURCHASES

• Offline Transactions: The actual purchase price of the vehicle is transferred directly from the Buyer to the Seller. Apex never touches or escrows the final settlement amount.
• Disputes: Since all vehicles are sold strictly "As Is, Where Is", the Platform does not handle refunds, returns, or warranty claims for the vehicles themselves. Any post-sale dispute must be resolved directly between the Buyer and Seller in their local jurisdiction.

4. CONTACT FOR BILLING ISSUES