Bidding & Fulfillment Process

Welcome to the Blink Marketplace Buyer Guide. This document outlines the structured process for participating in auctions and completing high-value transactions securely.

1. Bid Commitment Deposit

To maintain auction integrity, all bidders must maintain a Bid Commitment Deposit.

Amount: 5% of your intended bidding capacity.
Cap: The deposit is capped at ₦500,000.
Refunds: If you are outbid, your deposit is instantly released back to your bidding wallet.

2. Winning an Auction

When the countdown hits zero, the highest bidder above the reserve price is declared the winner.

You will receive an immediate notification via the app and email.
Your commitment deposit is automatically "locked" as a down payment.

3. Post-Auction Flow

The fulfillment process is designed to protect both the buyer and the seller through a structured escrow workflow.

A. Initial Payment

The buyer completes the initial payment, which includes:

The remaining balance of the asset (or partial payment as per agreement).
Applicable VAT.
Inspection and/or delivery fees.

B. Inspection (Optional)

Blink facilitates professional, third-party inspection services.

You have a 48-hour window to conduct a physical inspection.
You may waive this inspection to proceed directly to delivery.

C. Final Settlement

If an inspection is conducted, the final balance is released only after you confirm the asset matches the verified listing.
If no inspection is chosen, the full payment is completed upfront.

D. Delivery & Handover

Fulfillment can be handled in three ways:

Platform-enabled: Blink coordinates delivery via verified logistics partners.
Seller-arranged: The brand handles the delivery directly.
Independently handled: You coordinate the pickup with the seller.

4. Default Protection

If a buyer fails to complete a transaction after winning:

The Bid Commitment Deposit is forfeited.
The forfeited funds are shared between the Seller and Blink.
This ensures all participants remain accountable and serious.