Terms & Conditions

Last updated: August 28, 2026

1. Introduction & Acceptance

Welcome to Bid Deals, a comprehensive platform for property auctions, sales, rentals, and real estate management in Cyprus and beyond. By accessing and using this platform, you agree to be bound by these Terms and Conditions. If you do not agree to these terms, please do not use our services.

These terms apply to all users including bidders, buyers, sellers, property owners, tenants, real estate agents, and browsing visitors. We reserve the right to modify these terms at any time, and continued use constitutes acceptance of changes.

2. Bidder Registration & Requirements

2.1 Registration Process

To participate in auctions, you must complete bidder registration:

Provide accurate personal information (full name, address, telephone, age, gender)
Register valid payment method (bank transfer, credit/debit card, or credit account)
Accept Terms and Conditions and sign digital contract
Complete OTP verification for card payments

2.2 Age Requirement

You must be at least 18 years old to register and participate in auctions.

3. Bid Commitment Fees

3.1 Commitment Fee Structure

For auctions with reserve prices:

Bids under €5,000: 5% commitment fee per bid
Bids over €5,000: 2% commitment fee per bid
Rental auctions: 15% commitment fee

3.2 Fee Processing

Commitment fees charged immediately when placing bids
Fees processed via registered payment method or wallet balance
Confirmation of fee charge provided

3.3 Fee Refunds

If you don't win: Full refund within 5 business days
If you win: Fee deducted from final payment
Refunds processed to original payment method

4. Auction Rules & Bidding

4.1 Placing Bids

Bids must meet or exceed minimum (current bid + increment)
All bids are binding legal contracts to purchase
Bids cannot be retracted except through withdrawal process
Multiple bids allowed on same item

4.2 Reserve Prices

Some auctions have reserve prices. Seller not obligated to sell if reserve not met.

4.3 Winning Bids

Highest bidder at auction close wins if:

Reserve price met (if applicable)
Bid not withdrawn
Account in good standing

4.4 Bid Lock-In

Auctioneer may activate lock-in (1-48 hours) to expedite completion. All bidders notified via email. Bidding remains open during lock-in.

5. Payment & Settlement

5.1 Winning Bid Payment

If you win:

Pay winning amount within 48 hours
Commitment fee deducted from total
Invoice sent to registered email
Payment via registered method or wallet balance

5.2 Payment Methods

Bank Transfer (IBAN/SWIFT required)
Credit/Debit Card (with OTP verification via Stripe)
Credit Account (subject to admin approval, 5% monthly interest)
Wallet Balance (pre-funded virtual credits)

5.3 Non-Payment Consequences

Failure to pay within 48 hours may result in:

Commitment fee forfeiture
Account suspension or termination
Legal action to recover amounts owed
Prohibition from future use

6. Virtual Wallet & Payment System

6.1 Hybrid Wallet System

Bid Deals uses a hybrid wallet combining virtual credits with real-time Stripe payments:

Virtual Balance: Spendable credits in your wallet
Real-Time Charging: Stripe charges card immediately on top-up or transfer
Instant Credit: Recipient receives spendable balance immediately
No Storage: We don't hold money - Stripe processes it
Spend Freely: Use balance for all platform services

6.2 Wallet Top-Up

Add funds anytime via User Control Panel → Transfer Funds
Minimum €1 per transaction
Secure Stripe checkout
Funds available instantly

6.3 User-to-User Transfers

Send money to other registered users:

How: Initiate transfer → Stripe charges YOUR card → Recipient credited
Processing: Instant, no holding period
Notification: Recipient gets email confirmation
Use Cases: Gifts, shared costs, business payments

6.4 Escrow System

Funds held temporarily for:

Auction commitment fees (refunded if you don't win)
Property deposits (returned if deal fails)
Security deposits (returned after lease ends)
Auto-release after specified periods

6.5 Transfer Policies

Non-Reversible: Cannot be reversed once completed
Minimum: €1 for all transactions
Self-Transfers Blocked: Cannot transfer to yourself
Recipient Required: Must be registered on platform
Fraud Prevention: Suspicious patterns flagged

7. Payment Methods & Bank Details

7.1 Bank Transfer Details

Bank Name:Eurobank

Account Holder:Savvas Thoupou

Account Number:172-10-E19928-02

IBAN:CY100050017200017210E1992802

SWIFT/BIC:HEBACY2N

Always include payment reference from your invoice. Verified within 1-2 business days.

7.2 Card Payment Security

All payments processed securely via Stripe
We never store full card details
3D Secure authentication used
PCI DSS compliant processing

8. Property Listing Types

8.1 Available Types

For Sale: Standard property sale
For Rent: Rental/lease properties
Property Exchange: Swap properties (10-15% better than direct sale)
Antiparochi: Land for future units (can double/triple value)

8.2 Antiparochi Terms

Developer builds on landowner's land in exchange for percentage of completed units:

Example: 50% Antiparochi on 10 apartments = landowner gets 5 apartments
Land released progressively based on construction milestones
Potential to double or triple land value
Formal contract required specifying units and timeline
Legal representation strongly recommended

9. P2P Blockchain Loans - Platform Fees

🎉 LOWEST COMMISSION RATES IN CYPRUS!

Bid Deals charges just 1% origination + 0.5% monthly servicing - significantly lower than all competitors in Cyprus and the EU!

9.1 What is P2P Lending?

Peer-to-peer lending connects borrowers with verified lenders directly:

No Bank Intermediary: Lenders fund borrowers directly
Platform Role: Matchmaking, verification, smart contract management
We DON'T Lend: Bid Deals provides infrastructure, not loan funds
Commission-Based Revenue: We earn fees on successful matches

9.2 Origination Fee (1% - One-Time)

Charge: 1% of loan amount
When: At loan activation (after lender match accepted)
Paid By: Borrower
Example: €200,000 loan = €2,000 origination fee
Covers: Verification, smart contract deployment, legal setup, KYC processing
Payment: Secure Stripe checkout

9.3 Servicing Fee (0.5% - Monthly)

Charge: 0.5% of each monthly payment
When: Every monthly payment for duration of loan
Paid By: Borrower
Example: €1,000 monthly payment = €5 servicing fee
Covers: Payment processing, blockchain updates, customer support, monitoring
Added to Payment: Borrower pays €1,005 total (€1,000 to lender + €5 to platform)

9.4 Total Platform Revenue Example

Loan: €200,000 at 5% APR for 15 years

Origination Fee (1% one-time): €2,000
Monthly Payment by Borrower: ~€1,580
Monthly Servicing Fee (0.5%): €7.90
Total Servicing (180 months): €1,422
Total Platform Revenue: €3,422

9.5 Why These Are the Cheapest Rates

Traditional Cyprus Banks: 0.5-2% origination (servicing fees hidden)
Other P2P Platforms: 1-5% origination + 0.5-1.5% servicing
Blockchain Platforms: 1.5-3% origination + 0.5-2% servicing
Bid Deals: 1% + 0.5% = Industry-leading low rates! 🏆

9.6 How Blockchain is Used

Property Collateral: Tokenized as NFT on blockchain
Loan Terms: Recorded immutably on smart contracts
Payment Tracking: All payments logged on-chain
Collateral Release: Automatic when loan completes
NOT for Money Transfer: EUR moves via traditional banks

9.7 Borrower vs Lender Responsibilities

Borrower:

Provides property as collateral
Pays 1% origination fee
Makes monthly payments + 0.5% servicing
Uploads income/ID documents
Receives EUR loan funds

Lender:

Provides EUR loan funds
Pays €100 registration (refundable)
Completes KYC verification
Bears default risk
Earns agreed interest returns

9.8 Legal Compliance

Not a banking service (no banking license required)
Marketplace facilitation model (fully legal)
KYC/AML verification for all parties
GDPR compliant data handling
EU consumer protection laws followed
Smart contracts audited and tested

10. Property Owner Platform

9.1 Registration Requirements

Full name and contact phone
Title deed document (proof of ownership)
ID card or passport
Utility bill for address verification
Personal information (address, gender, occupation)

9.2 Property Owner Fees

€150 Setup Fee: Charged once for 5 auctions
€50 Renewal: For another 5 auctions
1.5% Platform Fee: On successful sales (seller pays)
1% Completion Fee: Done Deal Portal service (seller pays)
Total: 2.5% in fees per successful sale

9.3 Rental Auctions for Property Owners

Create rental auctions with monthly rent bidding
15% commitment bid from winners
5% platform fee on rental auctions
Admin fee options: 65% upfront or 100% monthly over 12 months
Can interrupt auction within 12 hours before end

9.4 Done Deal Portal (1% Completion Service)

Comprehensive property completion service includes:

Legal Documentation: All contracts and transfer documents
Clearances: Title search, encumbrance certificates, property status
Planning Permits: Building permit verification
Land Registry: Transfer processing and title deed registration
Tax Compliance: Transfer fees, stamp duty, VAT handling
Timeline: Typically 4-8 weeks completion

9.5 DoneDeal Portal - Simplified 4-Phase Process

While the legal process remains comprehensive (all 22 requirements intact), we've simplified the user experience into 4 clear phases with triple notifications (Email + SMS + In-app) at each milestone.

BUYER WORKFLOW - 4 Phases:

Phase 1 - Identity & Documents: Cyprus tax ID + ID upload
Phase 2 - Buyer Type & Limits: Individual (max 2 for non-EU) or Company (unlimited). LTD formation offered if limit reached.
Phase 3 - Financial Setup: Cyprus bank account + proof of funds (we can help open account)
Phase 4 - Completion: Profile complete, ready to purchase

SELLER WORKFLOW - 4 Phases:

Phase 1 - Identity & Tax: Cyprus tax ID
Phase 2 - Property Verification: Acquisition method (purchase or inheritance) + proof documents
Phase 3 - Renovations & Ariadni: Renovation invoices (if applicable) + Ariadni account or authorization (search valid 5 days)
Phase 4 - Tax Compliance: Seller type (Individual 20% tax, Company 12.5% tax) + rental tax declaration (if rented)

9.6 Notifications & Error Handling

Triple Notifications: All milestone completions trigger Email + SMS + In-app notification
Ariadni Expiration: Automatic reminders at day 3, red warning at day 4 (searches valid 5 days)
Document Rejection: Admin provides reason → Instant notification → Clear re-upload instructions
Payment Failures: Stripe webhook catches → User receives retry link
Tax Delays: Admin can add notes + estimated dates visible to users

9.7 Status Clarity System

Green Buttons: User actions required ("Upload Document", "Pay Now")
Yellow Badges: Admin approval pending ("Awaiting Admin Review")
Blue Badges: Automatic processes ("Reminder Sent", "Expiring Soon")
Progress Bar: Shows completion percentage (0%-100%)
Phase Indicators: Visual checkmarks on completed phases

11. Tenant Portal Subscription

10.1 Subscription Requirements

Cost: €60 per year (€5/month equivalent)
Billing: Annual only
Payment: Secure Stripe checkout
Auto-Renewal: Default enabled, can cancel anytime

10.2 Portal Features

View rental agreements
Track payment history
Pay rent online via Stripe
Download/print payment receipts
Submit maintenance requests with photos
Organize documents in custom folders
Browse available properties

10.3 Automated Payments

Recurring Payments: Auto-charge rent monthly
Payment Plans: Split over 2-6 months
Reminders: Configurable email/SMS alerts
Payment confirmations and receipt auto-save

10.4 Free Trial

New tenants can explore the portal features with a 7-day free trial before committing to the annual subscription.

12. Real Estate Agent Membership Plans

11.1 Membership Tiers & Commission

Basic (Free): 7 listings, 1 agent, 5% commission on deals
Professional (€25/mo or €21.25/mo yearly): 25 listings, 3 sub-agents, 5 auctions, templates, 4% commission
Premium (€50/mo or €37.50/mo yearly): 80 listings, 10 sub-agents, 15 auctions, rental management, 3% commission
Enterprise (€135/mo or €94.50/mo yearly): Unlimited listings/sub-agents/auctions, white-label, 0.5% service fee only

11.2 SMS Credit Packages

Purchase additional SMS credits (never expire, prices include 19% VAT):

250 SMS: €14.88
500 SMS: €29.75
1000 SMS: €59.50

11.3 License Options

Own License: Use existing license, no commission sharing, 100% commission retention
License Umbrella Program: Operate under Bid Deals coverage for 35% commission share

11.4 License Umbrella Program Details

Independent contractor arrangement for agents without own license:

Commission Split: 65% to agent, 35% to Bid Deals
Status: Self-employed independent contractor (not employee)
Coverage: Full legal protection under Bid Deals license
Platform Access: All agent tools, CRM, AI features included
Support: Legal, marketing, administrative backing
No Upfront Costs: Pay only from successful deals
Tax Responsibility: Contractors handle own tax filings
Termination: Either party may terminate with 30 days notice

11.5 License Umbrella Example

Commission Calculation:

Property Sale: €200,000
Standard Commission: 3% = €6,000
Agent Receives (65%): €3,900
Bid Deals Receives (35%): €2,100

Agent earns majority while avoiding license costs, insurance, compliance fees, and legal risks!

11.6 CRM & Communication Features

Client profiles with preferences and budget tracking
Lead pipeline (New → Contacted → Qualified → Negotiating → Converted)
Interaction logging (calls, emails, meetings, viewings)
Task management with priorities and due dates
In-app messaging with read receipts
SMS/Email bulk messaging with custom templates
AI property matching with compatibility scores

11.7 Analytics & Reporting

Performance metrics (views, inquiries, viewings, deals)
Conversion funnel visualization
Task completion analytics
Communication response metrics
Charts and trend analysis

11.8 Brochure Creator

Create professional brochures for:

Property listings, events, open houses
Greeting cards, gift vouchers, reminders
Announcements and newsletters
Share via email or WhatsApp

13. Agent Backup Charge Plans

12.1 Plan Purpose

Add-on subscriptions that ADD property slots and unlock features beyond base membership:

Starter (€1.50/mo): +1 slot, 4 features, 50MB backup
Growth (€3/mo): +1 slot, 7 features, 150MB backup
Professional (€4/mo): +1 slot, 10 features, 500MB backup
Unlimited (€8.50/mo): +1 slot, ALL features, 2GB backup

12.2 Billing Terms

Monthly or yearly billing (yearly saves 5%)
Auto-renew optional
Cancel anytime, service continues until period end
No partial refunds

12.3 Data Backup Policies

What can backup: Properties, Clients, Appointments, Tasks, Documents (metadata)
Cannot backup: Images/videos, Payment records, System logs
Retention: 30 days before auto-deletion
File limits: 10 MB per file
Restore: Adds data without deleting existing records

14. Tenant Management

13.1 Tenant Profiles

Agents can create tenant profiles with:

Personal information (name, email, phone, DOB, nationality)
ID/passport numbers
Employment details (employer, occupation, income)
Emergency contact information
Link to properties and lease agreements

13.2 Data Protection

Tenant data accessible only to creating agent
Agents must obtain tenant consent
GDPR compliant data handling
Tenants may request access or deletion

15. Undo System & Action History

14.1 Undo Capability

Actions: Create, Update, Delete operations
Time Limit: 24 hours
History: Last 20 actions tracked
Access: Control Panel or Agent Portal

14.2 Restrictions

Payment transactions cannot be undone
Auction bids cannot be undone (use withdrawal)
Actions older than 24 hours cannot be reversed

16. AI-Generated Content

15.1 AI Tools Available

Description Generator: Creates property descriptions
Property Valuation: Price recommendations with confidence scores
Rental Price Suggestion: Monthly rent optimization with market data
AI Property Matching: Client-property compatibility scoring

15.2 User Responsibility

AI content is a starting point - review and edit before publishing
Agents fully responsible for published content accuracy
AI valuations are estimates, not professional appraisals
Verify AI information before making decisions

15.3 Limitation of Liability

Bid Deals not liable for decisions based on AI recommendations
Users retain full responsibility for published content

17. User Responsibilities & Conduct

As a user, you agree to:

Provide accurate and truthful information
Keep account credentials secure
Not engage in fraud or deceptive practices
Not manipulate bidding through shill bidding or collusion
Honor all platform commitments
Update payment information when changed
Comply with applicable laws and regulations

18. Security & Anti-Fraud Measures

17.1 Automated Security

Email Domain Blocking: Disposable/temporary services rejected
Pattern Detection: Suspicious patterns flagged
Rate Limiting: Protection against spam attacks
IP Blocking: Malicious addresses auto-blocked
Input Validation: XSS and injection protection
Honeypot Fields: Bot submissions rejected

17.2 Account Blocking

Accounts blocked for:

Using disposable or fraudulent email addresses
Providing false registration information
Fraudulent bidding or payment activities
Circumventing security measures
Multiple scam activity reports

19. Platform Maintenance

18.1 Scheduled Maintenance

Maintenance windows kept as short as possible
Users see maintenance message during downtime
Auctions and bidding temporarily paused
Data remains safe and secure

18.2 Auction Extensions

If maintenance occurs during active auction, end times may be extended to compensate. All bidders notified of extensions.

20. European Union Legal Compliance

19.1 Consumer Rights Directive

Clear information about items, pricing, seller details
Pre-contractual information before purchase
Written confirmation of wins and purchases

19.2 Right of Withdrawal

Auction Exception: No withdrawal right for auction wins
Direct Sales: 14 days from delivery for non-auction purchases

19.3 GDPR Compliance

Personal data processed only for legitimate purposes
Rights: access, rectify, erase, restrict, port data
Payment information encrypted and secure
Data retained only as long as necessary

19.4 Anti-Money Laundering

Identity verification required for bidders
Transaction monitoring for unusual activity
Records maintained for 5 years
Suspicious activity reported to authorities

21. Limitation of Liability

Bid Deals provides platform "as is" with no warranties regarding:

Accuracy of item/property descriptions (provided by sellers/agents)
Authenticity of items (unless explicitly authenticated)
Uninterrupted platform availability
Freedom from errors or security breaches

Liability limited to amount paid for specific transaction.

22. Account Suspension & Termination

We reserve right to suspend or terminate accounts for:

Violating Terms and Conditions
Failing to pay for won auctions
Engaging in fraudulent activity
Negative account balance over 30 days
Repeated bid withdrawals without justification

23. Jurisdiction & Dispute Resolution

22.1 Governing Law

Terms governed by EU laws and Cyprus law.

22.2 Alternative Dispute Resolution

EU ODR Platform: ec.europa.eu/consumers/odr
Consumer ADR: Submit disputes to certified entities
Does not affect right to legal action

22.3 Complaints

Submit through account dashboard or Contact page
Response within 14 days
Escalate to ADR or legal proceedings if unresolved

24. Contact Information

For questions about Terms and Conditions:

Platform support system
Email: larnacatrade@gmail.com
WhatsApp: +357 99 142 973
Website: www.biddeals.online

By using Bid Deals, you acknowledge reading, understanding, and agreeing to these Terms and Conditions, including all EU legal requirements and consumer protections.