Terms & Conditions

Terms & Conditions

Effective Date: April 23, 2025

1. Introduction
Welcome to MyOwnPrice.com.ng (the “Platform”). All auctions, listings and sales are conducted solely by MyOwnPrice Ltd. (“we,” “us,” “our”). No third-party vendor may list items. By registering, browsing, bidding or purchasing on our Platform, you agree to these Terms & Conditions. Please read carefully.

2. Definitions

· Auction: Competitive process where users place time-bound bids on an item.

· Bidder: Any registered user who places a bid.

· Winning Bidder: The highest bidder at auction close.

· Item: Any product, collectible or service listed by MyOwnPrice.

· Account: Your registered user profile on the Platform.

3. Eligibility & Registration

· Must be at least 18 years old and resident of Nigeria.

· Provide truthful, current and complete information at registration (name, email, phone, address).

· Maintain and promptly update your Account credentials. You alone are responsible for activity under your Account.

4. Auction Mechanics

· All auctions have a published start time, end time and reserve price (if any).

· Bids are irrevocable; you cannot retract once placed.

· Each new bid must exceed the current highest bid by at least the platform’s minimum increment.

· In the event of a tie bid at closing, the earliest bid wins.

· “Soft close” policy: if a bid arrives within the final 2 minutes, the auction extends by 2 minutes to prevent last-second sniping.

5. Payment Terms

· Winning bidders must pay in full within 48 hours of auction close.

· Accepted methods: major Nigerian bank transfers, debit/credit cards, and other methods displayed at checkout.

· Failure to pay entitles MyOwnPrice to relist the item and suspend your Account.

6. Fees & Charges

· Winning bidders pay the final bid amount plus a Buyer’s Fee of 5% (subject to change; displayed before bidding).

· All applicable VAT and transaction charges are added at checkout.

· We reserve the right to adjust fees; changes apply only to auctions starting after the change.

7. Intellectual Property

· All content—text, images, logos, code—on the Platform is owned or licensed by MyOwnPrice.

· You may not copy, reproduce or create derivative works without our express written permission.

8. Modifications & Termination

· We may modify or suspend the Platform (or your access) at any time, with or without notice.

· We reserve the right to cancel any auction, refuse service, or terminate accounts for policy violations or suspected fraud.

9. Governing Law & Jurisdiction

· Governed by the laws of the Federal Republic of Nigeria.

· Any dispute shall be adjudicated in courts located in Lagos State, Nigeria.