Online auction:
It is a leading mzadat platform, and enables beneficiaries to easily and safely conduct bidding operations and offer assets for sale, and the platform allows participation in various auctions in a legally compliant manner anywhere. Auctions, buying and selling in the Kingdom of Saudi Arabia.
What are the advantages of an online auction:
- Easily participate in auctions anytime and anywhere.
- High transparency, displaying all auctions electronically and providing opportunities for all.
- You can participate in several auctions at the same time.
- Save time and effort for auction attendees.
- It provides a digital solution for financial proof and the deposit process, and enters the auction by charging e-wallets.
- It provides a secure electronic payment method.
Individuals can log in by entering the required data (identity number and date of birth), and the user's data is verified through a link with the competent authority before entering it.
Note: Individual bidders must be registered in Absher (Nafath Gate).
Electronic auctions:
The electronic invasion has contributed to the rapid development of digital communication networks, as the latter not only removed all geographical borders, but rather played a prominent role in the performance of vital services in various machines as well as in the expansion of commercial transactions, so that the latter became, through electronic media, the matter Which led to the emergence of the so-called electronic commerce, which the traditional legal rules failed to keep up with, which required the creation of a legal system that is compatible with the nature of the Internet, transactions and contracts in its new style. Most of the countries of the world issued special legislation through which this type was organized, where contracts are concluded by setting the necessary legal controls for it. However, in addition to buying and selling contracts and services that characterize electronic commerce, the latter produced a different mechanism, so that selling by public auction is done electronically and in various types, depending on the contractors and according to the various contracting methods. After the traditional auction was characterized by being held in pre-determined and designated sales halls by calling for the highest price, this is now done by opening a website in which the seller offers his goods or services after setting the price that opens the electronic auction.
The importance of the online auction:
The electronic auction, then, is an electronic contract of a special kind, as it is unique to some of its own characteristics that made jurists differ in determining its legal nature - in the absence of an accurate criterion - so that some considered it a contract of submission, while others considered it a consensual contract, and it is generally based on Basic elements that must be met, the most important of which is the element of mutual consent, in which the two parties express their will after the offer agrees with acceptance, and the presence of the element of the shop, which is the goods or service on which the contract is based, in addition to the existence of the direct reason or purpose behind this transaction. With the availability of all these elements, this type of sale eventually produces effects that are reflected in the rights and obligations of all parties, whether it is an electronic seller, an electronic buyer, or an electronic broker. In view of the specificity of selling through the electronic auction, some European countries, including France, Belgium, Germany, and the Netherlands, resorted to enacting special legislation through which they defined its legal framework and regulated its provisions. Legal controls were also put in place to face some of the problems arising from the widespread use of electronic media in concluding this.
The nature of the electronic auction:
The electronic auction is one of the modern e-commerce applications, rather the latest in its emergence, and it is an electronic means through which goods or services are publicly displayed on a website via the Internet in order to submit competitive bids freely and equally with the aim of reaching a bid that will award the auction. It is, then, a contract characterized by a privacy that makes it unique from the rest of the electronic contracts, which greatly affected the determination of its legal nature, and the contracting through the electronic auction, like other electronic contracts, is based on three pillars, which are the consent, the object and the reason, and when the latter is available and the contract is valid, it results in rights and obligations towards each From the online seller, the online buyer, and the online broker.
