Terms & Conditions
Last updated: 28 June 2026
These Terms & Conditions ("Terms") govern your access to and use of the BidFiti online auction platform at www.bidfiti.com (the "Platform"). The Platform is owned and operated by Araknet Labs Limited, a company incorporated in Kenya, trading as "BidFiti" ("BidFiti", "we", "us", or "our").
By accessing, browsing, registering for, or using the Platform, you confirm that you have read, understood, and agree to be bound by these Terms. If you do not agree, you must not use the Platform.
1. Definitions
- Platform — the BidFiti website, applications, and related services.
- User — any person who accesses the Platform, whether or not registered.
- Bidder — a registered User who participates in an Auction by placing Bids.
- Lister — an approved business or institution that lists assets for sale on the Platform.
- Auction — a time-bound online sale of an asset listed by a Lister.
- Bid — an offer made by a Bidder to purchase an asset at a stated amount.
- Reserve Price — the confidential minimum price a Lister will accept; if not met, the asset is not sold.
- Hammer Price — the highest valid Bid when an Auction closes.
- Bid Unlock Fee — the fee a Bidder pays to become eligible to bid on a specific Auction.
- Success Fee — the commission payable by a Lister to BidFiti on a completed sale.
2. Eligibility & Accounts
2.1. You must be at least 18 years old and legally capable of entering into binding contracts to register or bid.
2.2. To register you must provide accurate, current, and complete information, and keep it up to date. Providing false information may result in suspension or termination.
2.3. Email verification is required before you can place a Bid. You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account.
2.4. Browsing live Auctions, viewing photographs, asset details, and bid history is open to the public and does not require an account.
3. Nature of the Platform
3.1. BidFiti is an online auction venue and marketplace. The Lister is the seller of the asset. BidFiti is not the owner, seller, or auctioneer of the assets listed and is not a party to the contract of sale formed between a Lister and a winning Bidder.
3.2. All assets are offered "as is, where is", with no warranty as to description, condition, fitness for purpose, roadworthiness, or title. Intending purchasers must conduct their own independent due diligence (including physical inspection) before bidding.
3.3. Auctions are conducted in a manner consistent with the Auctioneers Act (Cap. 526), Laws of Kenya, and other applicable laws.
3.4. While BidFiti verifies Listers before onboarding (see clause 7), BidFiti does not guarantee the accuracy of any listing and accepts no liability for a Lister's acts or omissions.
4. Bidding
4.1. Bid Unlock Fee. Before placing your first Bid on an Auction, you must pay a Bid Unlock Fee of KSh 5,000 for that Auction. The fee unlocks unlimited bidding on that specific asset.
4.2. Refund of the Bid Unlock Fee. The Bid Unlock Fee is refunded to your Platform wallet if:
- you do not win the Auction; or
- the Auction closes without a sale (reserve not met) or is cancelled.
If you win the Auction, the Bid Unlock Fee is retained by BidFiti and is non-refundable.
4.3. Bids are binding and irrevocable. Once placed, a Bid cannot be retracted or lowered. Each Bid must exceed the current highest Bid by at least the minimum increment of KSh 10,000 (unless stated otherwise on the Auction).
4.4. Reserve. If an Auction has a Reserve Price that is not met when the Auction closes, the asset is not sold and no obligation to purchase arises.
4.5. Anti-snipe extension. Any Bid placed within the final 5 minutes of an Auction automatically extends the closing time by a further 5 minutes, repeating until no further Bids are placed. This ensures fair bidding and discourages last-second sniping.
4.6. Winning. If you are the highest Bidder when an Auction closes and the Reserve Price (if any) is met, you are the winner and are contractually obliged to complete the purchase.
5. Payment & Completion of Sale
5.1. Payment deadline. The winning Bidder must complete payment of the Hammer Price within 48 hours of the Auction closing, unless a different period is stated on the Auction.
5.2. Forfeiture. If a winning Bidder fails to pay within the deadline:
- a forfeiture penalty becomes payable, equal to the greater of KSh 25,000 or 5% of the Hammer Price;
- the Bidder's account is suspended; and
- the outstanding penalty is recorded as a debt that must be settled before the Bidder can bid again.
5.3. Re-offer. Where a winning Bidder defaults, BidFiti may, at its discretion, offer the asset to the next eligible Bidder for a limited period.
5.4. Completion of the sale, transfer of ownership, logbook transfer, and physical handover of the asset are matters between the Lister and the winning Bidder. BidFiti facilitates the auction but is not responsible for delivery or transfer.
6. Wallet
6.1. The Platform provides a wallet that you may fund (top up) and use to pay Bid Unlock Fees and other charges.
6.2. Wallet withdrawals are subject to a service charge of KSh 200 per withdrawal.
6.3. Wallet balances do not earn interest and are held only to facilitate Platform transactions.
7. Listers
7.1. Only approved Listers may list assets. To be approved, a Lister must complete BidFiti's verification (KYC) process, which may require a Certificate of Incorporation, KRA PIN, director identification, proof of business address, and proof of authority to sell the asset.
7.2. By listing an asset, a Lister warrants that it has full legal title and/or authority to sell the asset, and that all information provided is accurate and not misleading.
7.3. A Lister agrees to pay BidFiti a Success Fee of 2.5% of the Hammer Price on each completed sale.
7.4. A Lister indemnifies BidFiti against all claims, losses, and liabilities arising from the asset, its sale, disputed ownership, or any inaccuracy in the listing.
8. Fees Summary
| Fee | Who Pays | Amount |
|---|---|---|
| Bid Unlock Fee | Bidder | KSh 5,000 per Auction (refundable if you do not win) |
| Success Fee | Lister | 2.5% of the Hammer Price |
| Forfeiture Penalty | Defaulting winner | Greater of KSh 25,000 or 5% of the Hammer Price |
| Wallet Withdrawal Charge | User | KSh 200 per withdrawal |
BidFiti may amend fees from time to time. Current fees are those displayed on the Platform at the time of the relevant transaction.
9. Payments
9.1. Payments are processed through third-party providers, currently M-Pesa (Safaricom Daraja) and card payments (Paystack), as well as the Platform wallet.
9.2. BidFiti does not store full card details. Payment processing is subject to the terms and privacy policies of the relevant provider.
10. Prohibited Conduct
You must not:
- use bots, scripts, or automated means to access the Platform or place Bids;
- engage in shill bidding, bid manipulation, collusion, or any conduct that artificially affects prices;
- provide false information, impersonate another person, or operate multiple accounts to evade fees or restrictions;
- attempt to gain unauthorised access to the Platform, other accounts, or our systems;
- scrape, copy, or republish Platform content without permission; or
- use the Platform for any unlawful purpose.
11. Disclaimers & Limitation of Liability
11.1. The Platform is provided "as is" and "as available". To the maximum extent permitted by law, BidFiti disclaims all warranties, express or implied, regarding the Platform and the assets listed.
11.2. BidFiti is not liable for the condition, quality, legality, safety, or title of any asset, nor for any Lister's or Bidder's conduct.
11.3. To the maximum extent permitted by law, BidFiti's total liability arising out of or in connection with the Platform shall not exceed the total fees you paid to BidFiti in the three (3) months preceding the event giving rise to the claim.
11.4. Nothing in these Terms excludes liability that cannot lawfully be excluded.
12. Intellectual Property
The Platform, including its design, software, trademarks, and content, is owned by or licensed to Araknet Labs Limited and is protected by law. You may not copy, modify, or distribute it without our written permission.
13. Suspension & Termination
We may suspend or terminate your access to the Platform, with or without notice, if you breach these Terms, fail to pay amounts due, or engage in conduct that harms the Platform, other Users, or BidFiti.
14. Dispute Resolution & Governing Law
14.1. These Terms are governed by the laws of Kenya.
14.2. The parties shall first attempt to resolve any dispute amicably. Failing resolution, the dispute shall be subject to the jurisdiction of the courts of Kenya.
15. Changes to These Terms
We may update these Terms from time to time. Material changes will be notified on the Platform. Your continued use of the Platform after changes take effect constitutes acceptance of the revised Terms.
16. Contact
For questions about these Terms, contact us at:
- General: support@bidfiti.com
- Privacy & data protection: privacy@bidfiti.com
- Website: www.bidfiti.com
Araknet Labs Limited (trading as BidFiti)
By using BidFiti, you acknowledge that you have read and agree to these Terms & Conditions.