QMC AUCTION RULES

Quote My Car (Pty) Ltd ("QMC") Version: 1.1.0 Effective Date: 08/03/2026

1. PURPOSE

These Auction Rules govern dealer auctions facilitated by QMC and must be read with QMC Terms and Conditions.

QMC applies reasonable and commercially practical safeguards to protect public users, dealers, sellers, and buyers and to preserve platform integrity.

2. AUCTION CONTEXT

QMC supports auction facilitation where a seller uploads a vehicle and indicates a target seller price.

QMC may:

• run dealer-only auction participation;
• verify listing and participant information;
• pause, reject, extend, or cancel auction events for compliance, fraud, error, or technical reasons.

3. SELLER TARGET PRICE MECHANIC

For seller-target dealer auctions:

• the seller sets a target amount they want to receive;
• dealers compete with bids/offers according to auction rules; and
• where the closing accepted amount exceeds seller target, the difference is payable to QMC as facilitation margin/profit unless otherwise expressly agreed in writing.

Illustrative example:

• Seller target: R150,000
• Closing accepted amount: R180,000
• QMC facilitation margin: R30,000

4. LISTING / SERIOUSNESS FEES

QMC may or may not charge a listing or auction-upload fee for auction submissions to promote serious seller participation and reduce spam or fake deal activity.

Fee amount, timing, and refund status will be disclosed in the applicable workflow.

5. DEALER ELIGIBILITY

Dealers must:

• hold valid required business/compliance documents;
• complete QMC verification processes;
• keep subscription and account requirements in good standing where applicable; and
• comply with anti-fraud and fair-use rules.

6. BIDDING RULES

Bids or offers submitted through QMC are binding according to the auction conditions displayed for the relevant auction.

Bid withdrawal is only permitted where QMC explicitly authorizes withdrawal due to platform error, duplicate-entry error, or verified fraud.

If a seller-listed vehicle meets or exceeds the stated reserve/target price under a valid auction outcome, the seller must treat the vehicle as sold and may not withdraw from the sale except where required by law or expressly approved by QMC due to exceptional circumstances.

7. PAYMENT AND CONTACT RELEASE

Where a transaction is concluded:

• required QMC fees and margins must be settled as disclosed;
• dealer success-fee obligations remain enforceable where applicable;
• seller/dealer transaction details may be released only when payment and compliance conditions are met, except where law requires otherwise.

8. PROHIBITED CONDUCT

The following are prohibited:

• shill bidding or price manipulation;
• false identity, ownership, or KYC information;
• account sharing or multi-account abuse;
• off-platform circumvention to avoid QMC fees or margin entitlement;
• collusion among participants.

9. DISPUTES

Disputes must be raised within the timeframe communicated in the relevant auction workflow.

QMC may review logs, evidence, and account records and may uphold, modify, or reverse outcomes where justified.

10. LIABILITY

QMC is not responsible for vehicle condition, title disputes, hidden defects, third-party financing outcomes, or losses arising from participant misrepresentation.

QMC's role is facilitation and compliance administration, not principal buyer/seller contracting, unless expressly stated otherwise.

11. AMENDMENTS

QMC may amend these Auction Rules from time to time. Updated versions are effective from the published effective date.

12. ACCEPTANCE

By listing, bidding, or participating in a QMC dealer auction, participants accept these Auction Rules and related legal documents.