Terms of Service

Last updated: 24 August 2026

These Terms of Service ("Terms") govern your use of the Verabid platform (the "Service"), operated by Verabid Pty Ltd ("Verabid", "we", "us"). By creating an account, registering for an auction, or otherwise using the Service, you agree to these Terms.

1. The Service

Verabid is an Australian online platform that lets prospective bidders register to bid at property auctions hosted by participating real estate agencies. The Service handles identity verification, capture of buyer-entity information, electronic acknowledgement and signing of standard bidder documents (which may be varied or amended by real estate agencies or third parties from time to time), and surfacing of registrations to the selling agency.

Verabid is not a party to any contract of sale arising from an auction. Verabid is not a real estate agent, auctioneer or legal adviser in any capacity. Verabid acts solely as a technology and workflow provider and is not the agent, representative or fiduciary of any bidder, seller, selling agency or auctioneer.

Verabid receives information from bidders and third-party verification providers. Verabid does not independently verify the accuracy, completeness or reliability of all information submitted through the Service and does not warrant that information provided by users is accurate or current. Selling agencies, auctioneers and other users must undertake their own enquiries and assessments.

Verabid does not guarantee that a registration will be accepted by a selling agency, that a bidder will be permitted to bid at auction, or that an auction will proceed, conclude or result in a sale. The auction itself is conducted by the selling agency under the laws of the relevant Australian state or territory.

2. Eligibility

To use the Service you must:

• Be at least 18 years of age;
• Be legally capable of entering into binding contracts;
• Provide accurate, current and complete information, including identity verification documents, and immediately update any information that is inaccurate, incomplete or misleading; and
• Have authority to act on behalf of any company, trust, self-managed superannuation fund or other entity you register for the auction on behalf of.

3. Your account

You are responsible for activity that occurs under your account and for keeping your login credentials confidential. If you believe your account has been compromised, contact us immediately at support@verabid.com.au.

Verabid may undertake additional identity or document verification, sanctions screening, politically exposed person screening, beneficial ownership enquiries and other due diligence processes at any time. Verabid may suspend, reject or cancel a registration if verification requirements are not satisfied to our reasonable satisfaction.

A verification process undertaken by Verabid does not constitute a representation, warranty or guarantee as to the identity, financial capacity, authority or legal status of any participant. Any act performed using your account credentials will be deemed to have been authorised by you unless caused by Verabid's fraud or wilful misconduct.

4. Identity verification (KYC)

Registering to bid requires identity verification through our third-party KYC provider. By submitting verification data, you consent to the collection, verification and storage of that data as described in our Privacy Policy. You must use your true legal identity. Providing false or misleading identity information may result in immediate suspension of your account and reporting to relevant authorities.

Verabid may elect to undertake additional identity or document verification, sanctions screening, politically exposed person screening, beneficial ownership enquiries and other due diligence processes at any time.

5. Electronic signatures

You expressly consent to the use of electronic signatures to execute bidder authorities, acknowledgements and other auction documents on the Service, as permitted under the Electronic Transactions Act 1999 (Cth) and equivalent state and territory legislation, as amended from time to time. An electronic signature you provide on Verabid has the same legal effect as a handwritten signature.

6. Your obligations as a bidder

By registering for an auction you agree that:

• You have read the specific property's contract of sale, disclosure material and other documents made available by the selling agency, or have had a reasonable opportunity to do so;
• Any bid you make is irrevocable and constitutes a binding offer to purchase the property at the bid price on the terms of the contract of sale;
• If your bid is the highest accepted bid, you or the entity you are bidding on behalf of will be required to sign the contract of sale and pay the deposit immediately at the fall of the hammer in accordance with the conditions of sale;
• Co-parties (including co-buyers, company directors, beneficial owners and trustees) you list must undertake their own identity verification and sign their portion of the bidder documents before your registration is fully approved. You are responsible for ensuring that every person whose details you provide has authorised that disclosure;
• You warrant that all information supplied through the Service is true, complete and not misleading. You indemnify Verabid against loss arising from information supplied by you being inaccurate, incomplete or misleading;
• Each property or lot in a multi-property auction event may have different contract terms, disclosure documents, settlement periods, deposit requirements, special conditions, bidding requirements or other conditions of sale. You are solely responsible for reviewing the terms that apply to each property or lot before bidding and for making your own enquiries with the selling agency or auctioneer if uncertain; and
• Verabid does not verify, determine, monitor or warrant the deposit requirements, settlement dates, special conditions or other sale terms applying to any property and accepts no responsibility for reliance on information displayed through the Service.

7. Solicitor representation

Verabid strongly recommends that you engage a solicitor or licensed conveyancer to review the contract of sale before bidding. The Service lets you record your solicitor's details against your buyer entity, or proceed without a solicitor on file. If you proceed without a solicitor, you acknowledge that you have had the opportunity to obtain independent legal advice and voluntarily chose not to do so. Verabid does not and will not claim to provide legal advice.

8. Fees

Use of the Service is currently free for bidders. Selling agencies pay Verabid for use of the registration platform under separate commercial terms. Verabid reserves the right to introduce subscription, registration, transaction or other fees upon no less than 14 days' notice via the Service and email.

9. Acceptable use

You must not:

• Use the Service to defraud, harass, impersonate or harm any person;
• Submit registrations you do not intend to honour or interfere with the orderly conduct of an auction;
• Attempt to circumvent identity verification, reverse engineer the Service, or access it via automated means without our written permission;
• Use the Service to send unsolicited communications; or
• Create multiple accounts to circumvent restrictions or verification requirements that we reasonably impose.

We may suspend or terminate accounts that breach these obligations.

10. Intellectual property

The Service, including its software, design, content and the Verabid brand, is owned by us and protected by Australian and international intellectual property laws. You receive a limited, non-exclusive, non-transferable licence to use the Service for its intended purpose.

Includes ASIC Company Register data, CC BY 3.0 AU.

11. Liability

The Service is provided "as is". To the maximum extent permitted by law, Verabid excludes all implied representations, conditions, warranties and guarantees. Nothing in these Terms excludes rights or remedies that cannot be excluded under the Australian Consumer Law.

Verabid is not responsible for the conduct of an auction, the accuracy of property disclosures made by selling agencies, the suitability of a property for your purposes, or a contract of sale you enter into as a result of bidding through the Service.

To the maximum extent permitted by law, Verabid is not liable for:

• Auction cancellation or failed registrations;
• Internet outages or telecommunications failures;
• Identity fraud or unauthorised access;
• Third-party service provider failures;
• Auctioneer or agency conduct;
• Lost profits, opportunity, revenue or reputation; or
• Indirect, incidental, special, consequential or punitive loss.

12. Changes to these Terms

We may update these Terms from time to time. Material changes will be notified via the Service or by email at least 14 days before they take effect. Continued use of the Service after the effective date constitutes acceptance of the updated Terms.

13. Governing law

These Terms are governed by the laws of the State of Queensland, Australia. You and we submit to the non-exclusive jurisdiction of the courts of that State and the courts able to hear appeals from them.

14. Service availability

Verabid does not guarantee uninterrupted, secure or error-free operation of the Service. Planned maintenance, outages, cyber incidents and third-party failures may affect availability. You are responsible for completing registrations sufficiently in advance of auction deadlines imposed by selling agencies.

15. Contact

Questions about these Terms can be sent to support@verabid.com.au.