RevLot Terms of Use

Acceptance of Terms

Welcome to RevLot Limited ("RevLot", "we", "us", or "our").

These Terms and Conditions ("Terms") govern your access to and use of the RevLot website, mobile application, and any associated platforms, APIs, or services (collectively, the "Platform").

By registering for or using the Platform, you acknowledge that you have read, understood, and agreed to be bound by these Terms. You also agree to comply with all applicable laws and regulations.

If you do not agree to these Terms, you must not access or use the Platform.

1. Platform Overview

RevLot operates a digital marketplace for automotive auctions that connects verified buyers and sellers in a transparent, secure, and escrow-protected environment. The Platform facilitates:

• Online vehicle bidding and sales
• Escrow-based payments and settlements
• Vehicle inspection coordination through independent agents
• Delivery and logistics support via registered transport partners

RevLot does not own, buy, or sell vehicles listed on the Platform. We act solely as a facilitator between third-party buyers and sellers.

2. Eligibility

To use the Platform, you must:

• Be at least 18 years old and legally capable of entering binding contracts under Nigerian law.
• Successfully complete Know Your Customer (KYC) verification as required by law.
• Not have been previously suspended or banned from RevLot for fraud, abuse, or policy violations.

By creating an account, you represent that all information provided is accurate and that you meet these requirements.

3. Account Registration and Responsibilities

You must register an account using accurate and verifiable personal, financial, and contact information.

• Keep your login credentials confidential.
• You are responsible for all actions under your account.
• Do not impersonate others or misrepresent your identity.

RevLot reserves the right to suspend or terminate accounts that breach these Terms or applicable laws. If you suspect unauthorized activity, contact support@revlot.ng.

4. Auction Process

The RevLot auction system operates under these principles:

• Sellers may list vehicles, set reserve prices, or choose “Buy Now” options.
• Once a buyer places a bid, it becomes a legally binding offer.
• Winning bids are final and cannot be withdrawn.
• RevLot may remove listings or cancel auctions to maintain integrity.

5. Fees and Payments

Users agree to pay all applicable fees, including:

• Membership or registration fees
• Inspection and logistics charges
• Escrow transaction fees

Buyers remit full payments to the escrow account. Sellers receive payment after delivery confirmation or 72 hours without dispute. All payments are processed via authorized providers (e.g., Paystack, Flutterwave).

6. Escrow Services

RevLot provides escrow protection for all transactions:

• Buyer funds are held securely until vehicle confirmation.
• Disputes must be raised within 72 hours of delivery.
• Funds released from escrow are final and non-refundable.

7. Vehicle Condition and Inspections

All vehicles are sold strictly “as-is, where-is.” Buyers are encouraged to order inspections before bidding. RevLot does not guarantee any vehicle’s condition, title, or roadworthiness.

8. Prohibited Conduct

• Do not transact outside the Platform.
• Do not falsify bids or manipulate auction results.
• Do not upload malware or attempt to hack the system.
• Do not harass users, staff, or partners.

RevLot may suspend violators and report serious breaches to law enforcement.

9. Dispute Resolution

Disputes must be reported to RevLot within 72 hours of delivery. We will review records, mediate between parties, and issue a final binding decision. Users retain the right to pursue independent legal remedies.

10. Limitation of Liability

To the fullest extent permitted by law, RevLot and its affiliates are not liable for:

• Indirect or consequential damages
• Vehicle defects or title discrepancies
• Delays by third-party services
• User negligence or breach

RevLot’s liability shall not exceed fees earned from the related transaction.

11. Termination and Suspension

RevLot may suspend or terminate accounts for fraudulent, abusive, or unlawful activity. Ongoing transactions will be handled or refunded at RevLot’s discretion.

12. Modifications to These Terms

RevLot may modify these Terms periodically. Updates will be communicated via email, dashboard notices, or in-app notifications. Continued use after updates signifies acceptance.

13. Governing Law and Jurisdiction

These Terms are governed by the laws of the Federal Republic of Nigeria. Disputes shall be settled amicably or referred to arbitration in Lagos, Nigeria, in accordance with the Arbitration and Mediation Act (AMA) 2023.

14. Contact Information