By accessing or using the AuctionIT Solutions website or platform, you agree to be bound by these Terms of Service. If you do not agree, please do not use our services.
1. About AuctionIT
AuctionIT Solutions Limited ("AuctionIT", "we", "us") is a technology company incorporated in Kenya that provides a digital platform for NPL (non-performing loan) resolution, distressed asset management, and related services. These Terms govern your use of our website at auctionit.co.ke and any associated platform services.
2. Eligibility
You must be at least 18 years of age and have legal capacity to enter into a binding agreement under Kenyan law to use our services. By using our platform, you represent that you meet these requirements. If you are accessing the platform on behalf of a company or institution, you represent that you have authority to bind that entity to these Terms.
3. Platform Services
AuctionIT provides the following services (subject to applicable subscription agreements):
- DiStressIT: NPL resolution software for CBK-regulated lenders.
- AuctionIT: Digital listing and auction management for licensed auctioneers.
- BidonIT: Verified distressed property listings for buyers and investors.
- Premium Analytics: NPL market intelligence and data services.
Access to platform services (beyond this public website) is governed by separate subscription or service agreements entered into between AuctionIT and the relevant institutional client.
4. Acceptable Use
You agree not to:
- Use the platform for any unlawful purpose or in violation of any applicable Kenyan law or regulation.
- Submit false, misleading, or fraudulent information through any form or communication channel.
- Attempt to gain unauthorised access to any part of our systems or data.
- Reproduce, redistribute, or reverse-engineer any part of our platform without prior written consent.
- Interfere with the operation of the platform or the experience of other users.
5. Intellectual Property
All content, design, software, trademarks, and materials on this website and platform — including the AuctionIT, DiStressIT, BidonIT, and AuctionIT brand names — are the exclusive property of AuctionIT Solutions Limited or its licensors. Nothing in these Terms grants you a licence to use our intellectual property beyond what is necessary to access and use the services as intended.
6. Disclaimer of Warranties
Our website and platform are provided on an "as is" and "as available" basis. AuctionIT makes no warranties, express or implied, regarding the accuracy, completeness, reliability, or fitness for purpose of any content or service. We do not provide legal, financial, or investment advice. Nothing on this website constitutes a solicitation or offer to buy or sell any financial instrument.
7. Limitation of Liability
To the maximum extent permitted by Kenyan law, AuctionIT Solutions Limited shall not be liable for any indirect, incidental, consequential, or punitive damages arising from your use of or inability to use the platform, even if we have been advised of the possibility of such damages. Our aggregate liability for direct damages shall not exceed the amounts paid by you to AuctionIT in the three months preceding the relevant claim.
8. Regulatory Compliance
AuctionIT operates within the framework of applicable Kenyan law, including but not limited to the Land Act 2012, the Auctioneers Act (Cap 526), the Data Protection Act 2019, and guidelines issued by the Central Bank of Kenya. Nothing in our platform is intended to circumvent, replace, or override statutory processes or regulatory requirements. All NPL resolution activities facilitated through our platform must comply with applicable law.
9. Third-Party Services
Our platform may integrate with or link to third-party services (e.g. credit reference bureaux, payment processors, property registries). AuctionIT is not responsible for the availability, accuracy, or terms of those third-party services. Your use of third-party services is governed by their respective terms and policies.
10. Termination
AuctionIT reserves the right to suspend or terminate your access to the platform at any time, with or without notice, if you breach these Terms or if we are required to do so by law or regulatory directive. Provisions that by their nature should survive termination (including Sections 5, 6, 7, and 11) will continue to apply.
11. Governing Law and Disputes
These Terms are governed by and construed in accordance with the laws of the Republic of Kenya. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Kenya. Before initiating formal proceedings, the parties agree to attempt good-faith resolution through negotiation for a period of 30 days.
12. Changes to These Terms
We may update these Terms from time to time to reflect changes in our services, business practices, or applicable law. Material changes will be communicated by updating the "Last updated" date above. Continued use of our platform after any update constitutes acceptance of the revised Terms.
13. Contact
AuctionIT Solutions Limited
Nairobi, Kenya
Email: info@auctionit.co.ke
Phone: +254 786 90 00 00