Legal
Refund &
Cancellation.
Last Updated: 1 May 2026
Due to the time-sensitive and high-intent nature of digital vehicle auctions, Apex Exchange strictly enforces the following refund and cancellation rules regarding the 3% Buyer's Premium:
1 // Voided Holds (Lost Auctions)
If you place a bid and are subsequently outbid by another user, or the auction ends and you are not the winner, your 3% authorization hold is automatically voided and released by our payment gateway. Depending on your bank or credit card issuer, it may take 5 to 7 business days for the released funds to reflect in your account limit.
2 // No Cancellations During Active Auctions
Bids placed on the Platform are legally binding. You cannot cancel a bid while the auction is live. If you win the auction, the 3% Buyer's Premium is immediately captured.
3 // Non-Refundable Captures (Buyer Default / Flaking)
If you win an auction, your 3% hold is converted into the Platform Success Fee. This fee is strictly non-refundable if you:
- 3.1Change your mind, find another vehicle, or get "cold feet."
- 3.2Fail to contact the Seller or complete the offline payment within the designated handover window (e.g., 48 hours).
- 3.3Refuse to buy the vehicle for reasons unrelated to severe mechanical misrepresentation.
Note: In these cases, your fee is forfeited and split with the Seller to compensate for their lost time.
4 // Valid Disputes & Authorized Refunds
We offer refunds of the captured 3% fee ONLY under the following conditions:
- 4.1The Seller materially misrepresented the vehicle in the listing (e.g., undisclosed severe accidental damage, tampered odometer, or fraudulent title/RC).
- 4.2The Seller refuses to sell the vehicle at the final winning bid price.
You must initiate a Dispute through the Platform within 48 hours of the auction ending. You must provide photographic proof of the misrepresentation. If the dispute is validated by our administration team, your 3% fee will be refunded in full within 5-7 business days.