Terms & Conditions
Please read our transparent operational terms governing auctions, subscriptions, and compliance.
1. Auction Discount Range
The maximum discount for any chit auction ranges between a pre-determined minimum of 5% up to a maximum of 30% according to agreement terms.
2. Company Commission
The company charges a standard 5% commission on the total chit amount. This rule remains applicable even if a chit is cancelled.
3. Auction Participation Eligibility
Only members who are ready to provide proper security guarantees and have paid their monthly installments regularly are permitted to participate in auctions.
4. Video Conference & Bid Submissions
Participants can join auctions via video conferencing or submit their bid applications to our branch office one day prior to the auction date.
5. Timely Subscription Payments
Bid amounts and monthly installments must be paid on or before the fixed date every month. Delays will attract penalties or forfeiture of monthly dividends.
6. Cancellation Restrictions
Auction winners cannot cancel their prize claim post-auction. If cancelled due to unavoidable reasons, the subscriber must bear the difference in bid amounts for the subsequent auction.
7. Cessation of Contributions & Settlements
If a subscriber stops paying their chit installments, the remaining balance will be refunded after settling the company's commission once the chit cycle reaches its completion.
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