Zatami (Pty) Ltd Refund & Cancellation Policy

1. Overview

At Zatami (Pty) Ltd, we operate a peer-to-peer vehicle bidding marketplace that allows private sellers to list vehicles and buyers to participate in timed bidding events.

This Refund & Cancellation Policy explains how the R500 bidding deposit, bidding event cancellations, and certain buyer and seller cancellations are handled.

This policy should be read together with Zatami's Terms & Conditions and Privacy Policy. Nothing in this policy is intended to remove or limit any rights that cannot legally be excluded under South African law.

2. R500 Bidding Deposit

To participate in a bidding event, a buyer is required to pay a R500 deposit for that specific bidding event.

The deposit is intended to help ensure that users participating in live bidding are genuine and committed to the process.

The R500 deposit applies per bidding event.

The deposit is specific to the vehicle/bidding event for which it was paid and cannot be transferred to another event.

For the current MVP, deposits are paid by EFT using the payment instructions and reference provided by Zatami.

Bidding access is only enabled once the payment has been received and verified by Zatami.

A deposit does not form part of the vehicle purchase price unless expressly stated otherwise.

3. If You Do Not Win

If you participate in a bidding event but do not become the winning bidder, your R500 deposit is refundable.

Once the bidding event has ended and the result has been confirmed, Zatami will process the refund in accordance with its refund process.

Refunds will generally be made by EFT to a South African bank account belonging to the person who made the deposit. Zatami may request reasonable information or proof to verify the payment and the recipient before processing a refund.

Refunds are generally processed within 2–3 business days after the relevant refund has been approved. Bank processing times may vary.

4. If You Win

If you are the highest valid bidder when the bidding event ends, you are considered the winning bidder in accordance with Zatami's Terms & Conditions.

Your R500 deposit will then be retained as a commitment/platform fee for the successful bidding event and will not be refunded simply because you later change your mind about purchasing the vehicle.

The winning bid represents a commitment to proceed with the vehicle purchase, subject to applicable law and the terms governing the bidding event.

Zatami may facilitate communication between the winning buyer and seller so that they can arrange inspection, payment, collection and transfer of the vehicle.

5. When a Winning Bidder Does Not Proceed

We understand that circumstances can sometimes change. However, because bidding creates a genuine commitment between participants, winning bidders are expected to proceed in good faith.

Where a winning bidder refuses or fails to proceed with the purchase without a valid reason, Zatami may:

• retain the R500 commitment/platform fee;
• restrict or suspend the user's bidding privileges;
• suspend or terminate the user's account in serious or repeated cases; and
• take other reasonable steps permitted by our Terms & Conditions and applicable law.

Nothing in this section prevents a user from exercising a right or remedy available to them under applicable law.

6. Cancellation of a Bidding Event

Zatami may cancel, suspend or withdraw a bidding event where reasonably necessary, including where there is a concern regarding the vehicle, seller information, documentation, bidding activity, technical issues, suspected fraud, or another circumstance that makes continuing the event inappropriate.

Where Zatami cancels or withdraws an event before it is successfully concluded, registered bidders who paid the R500 deposit will generally receive a full refund.

Where there is a legitimate concern regarding fraudulent activity, payment irregularities or prohibited conduct, Zatami may temporarily delay a refund while the matter is reviewed.

7. Seller Cancellations

Sellers are expected to honour a vehicle listing once it has been approved and a bidding event has commenced.

A seller should not withdraw a vehicle or refuse to proceed simply because the final bid is lower than expected.

However, we recognise that genuine circumstances can arise. For example, a seller may need to withdraw a vehicle because of significant newly discovered damage, loss of ownership or authority to sell, serious documentation issues, theft or loss of the vehicle, or another legitimate circumstance.

Zatami may review such situations individually.

If a bidding event is cancelled because of a seller-related issue, affected bidders will generally receive a refund of their R500 deposit.

Repeated or unreasonable seller cancellations may result in the seller's account or listing privileges being restricted or suspended.

8. Buyer and Seller Vehicle Transaction

Zatami's role is to provide the bidding platform and facilitate the connection between buyers and sellers.

Zatami does not:

• own the vehicles listed by users;
• act as the seller or buyer of the vehicle;
• take possession of the vehicle;
• hold the vehicle purchase price on behalf of either party; or
• act as an escrow service for the vehicle purchase price.

Once a bidding event has successfully concluded, the buyer and seller are responsible for arranging the physical inspection, final payment, collection and legal transfer of the vehicle between themselves.

We strongly encourage the winning buyer to inspect the vehicle, verify its documentation and satisfy themselves that the vehicle is suitable before making the vehicle purchase payment.

9. Our Role and Your Protection

We work to make Zatami a trustworthy marketplace by reviewing listings, requiring relevant information and taking reasonable steps to protect the integrity of the bidding process.

At the same time, a vehicle sale involves two independent parties. Zatami does not control the vehicle, the seller's representations, the buyer's decisions, or what happens between the parties after they are connected.

For this reason, to the extent permitted by law, Zatami is not responsible for losses, disagreements or problems arising from the underlying vehicle transaction, including matters relating to the vehicle's condition, undisclosed defects, ownership, payment between the parties, collection, transfer, or the conduct of a buyer or seller.

Our intention is not to leave users without support. Where appropriate, Zatami may assist with communication or platform-related issues and may take action against users who breach our rules.

However, the actual purchase and sale of the vehicle remains a transaction between the buyer and seller, and Zatami does not guarantee that either party will perform their obligations.

Nothing in this policy excludes or limits any liability, right or remedy that cannot lawfully be excluded or limited under South African law.

10. Fraudulent or Incorrect Payments

If you make a duplicate payment, use an incorrect EFT reference, or believe that your payment has not been correctly recorded, please contact Zatami as soon as possible and provide the relevant payment information or proof of payment.

Where a genuine duplicate or erroneous payment is confirmed, Zatami will take reasonable steps to correct the payment and refund the applicable amount.

Where a payment or bidding activity appears to involve fraud, altered or falsified proof of payment, multiple accounts, shill bidding, collusion or other prohibited conduct, Zatami may suspend the relevant account and delay or withhold a refund where permitted by law while the matter is investigated.

11. How to Request a Refund

For refund or payment-related queries, please contact:

Zatami (Pty) Ltd

Email: support@zatami.co.za

Website: zatami.co.za

Location: South Africa

Please include enough information for us to identify the relevant bidding event and payment.

12. Changes to This Policy

Zatami may update this Refund & Cancellation Policy from time to time to reflect changes to the platform, our processes, or applicable law.

The latest version will be made available on the Zatami platform together with the date it was last updated.

13. Governing Law

This policy is governed by the laws of the Republic of South Africa.

Where a provision of this policy is found to be unenforceable or cannot legally be applied in a particular circumstance, the remaining provisions will continue to apply to the extent permitted by law.