Terms & Conditions

# Rugs Raga Exclusive Auction Terms & Conditions

*Effective Date: February 23, 2026*

*Last Updated: February 23, 2026*

Welcome to Rugs Raga's Exclusive Auction platform ("Auction Platform") accessible via our website (rugsraga.com) and mobile application (Rugs Raga App). These Terms & Conditions ("Terms") govern your participation in our monthly auctions of 30 exclusive, copyrighted hand-tufted carpet designs ("Auction Items"). By registering, bidding, or participating, you agree to these Terms.

 

## 1. Auction Overview

Rugs Raga conducts *one exclusive auction per month* featuring *30 unique, limited-edition carpets*. Each Auction Item is:

- Handcrafted by Rugs Raga artisans in Guwahati, India

- Protected by Rugs Raga's copyright as original artistic works

- Accompanied by a *Memorandum of Agreement (MOA)* granting the winner *limited sharing rights* for personal display and social media use (non-commercial only)

*Auction Schedule*: First Saturday of each month, 6:00 PM - 10:00 PM IST.

## 2. Eligibility & Registration

### 2.1 Who Can Participate

- *Age*: 18 years or older

- *Location*: Residents of India only (for regulatory compliance)

- *Status*: Not on any sanctions list or barred from auctions

### 2.2 Registration Process

1. *Bidder Enrollment*: Complete registration form at /exclusive-auctions/register

2. *Approval*: Rugs Raga reviews applications within 24 hours

3. *Wallet Setup*: Approved bidders activate wallet with minimum ₹5,000 preload

4. *Verification*: Email + phone OTP confirmation required

*Note*: Rugs Raga reserves the right to reject any registration without explanation.

## 3. Wallet & Payment System

### 3.1 Wallet Funding

- *Accepted Methods*: UPI, Credit/Debit Cards, Net Banking (RBI-compliant gateways)

- *Minimum Load*: ₹5,000 (non-refundable processing fee of 2% applies)

- *Maximum Balance*: ₹5,00,000

- *Top-up Time*: Instant (excluding bank holidays)

### 3.2 Bid Mechanics

- All bids draw from *Pre-authorized Wallet Balance*

- *No Overbidding*: System prevents bids exceeding available wallet funds

- *Bid Increments*: ₹1,000 minimum increments during auction

### 3.3 Post-Auction Settlement

| *Scenario* | *Wallet Impact* | *Next Steps* |

|--------------|------------------|---------------|

| *You Win* | Winning bid deducted instantly | Receive MOA + shipping confirmation within 72 hours |

| *You Lose* | Bid amount *remains intact* in wallet | Available for future auctions or withdrawal |

| *Tie* | Highest bid + timestamp wins | All other bids remain in wallet |

## 4. Winning & Delivery

### 4.1 Winner Obligations

- *Payment*: Auto-deducted from wallet (non-negotiable)

- *Shipping*: Free across India (7-14 business days)

- *MOA Signing*: Digital signature required within 48 hours of winning notification

### 4.2 Intellectual Property Rights

- *Rugs Raga retains full copyright* over all Auction Items

- *Winner receives: Non-exclusive, non-transferable license to **display* and *share photos* for personal use

- *Prohibited*: Commercial resale, reproduction, or modification

### 4.3 Delivery Timeline

Guwahati/Delhi: 7-10 days

Other Metro Cities: 10-12 days

Rest of India: 12-14 days

## 5. Wallet Withdrawal Policy

### 5.1 Eligibility

- Minimum withdrawal: ₹2,000

- Available balance only (excluding current bids)

- Maximum 2 withdrawals per calendar month

### 5.2 Process

1. Navigate to Profile → Wallet → "Request Withdrawal"

2. Enter bank/UPI details via secure form

3. Processing within *48 business hours*

4. *2% processing fee* deducted

### 5.3 Bank Details Required

- Account Holder Name (matching registration)

- Bank Name - Account Number / UPI ID

- IFSC Code (for bank transfers)

## 6. Cancellation & Refund Policy

### 6.1 Non-Refundable Items

✓ Wallet top-up processing fees (2%)

✓ Winning bids (final upon auction close)

✓ Registration fees

### 6.2 Eligible Refunds

• Full wallet balance withdrawal (minus 2% fee)

• Failed delivery (full refund + reshipment)

• Auction system errors (case-by-case)

*Refund Timeline*: 5-7 business days to original payment method.

## 7. Prohibited Conduct *Immediate account suspension/termination for:*

- Bid manipulation or shill bidding

- Multiple accounts per person

- Commercial resale of Auction Items

- Harassment of staff/bidders

- False information during registration

## 8. Liability Limitations

### 8.1 No Warranties

- Auction Items sold *AS-IS* with no authenticity guarantees beyond MOA

- Color variations may occur due to handcrafting (±5% tolerance)

- Digital previews approximate final product

### 8.2 Maximum Liability Rugs Raga's total liability shall not exceed the *winning bid amount* or *₹25,000*, whichever is lower.

## 9. Dispute Resolution

Primary Jurisdiction: Guwahati, Assam, India

Applicable Law: Indian Contract Act, 1872 & IT Act, 2000

Dispute Period: 15 days from auction close

Escalation: Consumer Court, Guwahati

## 10. Program Changes Rugs Raga reserves the right to:

- Modify auction schedule/format

- Change participating items

- Update Terms (30 days notice via email/website)

- Cancel auctions due to force majeure

## 11. Acceptance

*By clicking "Register to Bid" or loading wallet funds, you:*

- Confirm 18+ years of age - Agree to all Terms without modification

- Authorize pre-authorized debits from wallet - Accept electronic MOA delivery

*Questions?* Email auctions@rugsraga.com or WhatsApp +91-XXXXX-XXXXX

*

*Last Updated: Feb 23, 2026 | Version 1.0*

Protected under Indian Copyright Act, 1957