The security deposit is a small, refundable amount you provide before participating in an auction. It's a commitment gesture, ensuring all bidders are serious and helping to maintain a trustworthy auction environment. The security deposit is refunded if you do not win any auction.

The security deposit is also used to establish your bidding limit. The bidding limit is the total amount that a bidder is allowed to bid and is set by you.

For all Auctions except properties:

To pay the deposit by bank deposit, bank transfer and credit card:

• The security deposit is 20% of your desired bidding limit. For example, if you wish to have a bidding limit of AED 100,000, your security deposit must be at least AED 20,000.

To pay the deposit by cheque:

• The security deposit is 100% of your desired bidding limit. For example, if you wish to have a bidding limit of AED 100,000, the cheque amount must be AED 100,000.

For Property Auctions:

• The deposit can be submitted by manager cheque, bank transfer and  bank deposit.

• The security deposit is 20% of the property price, for example if the property price is AED 1,000,000 then your “Manager Cheque” amount shall be AED 200,000.

• If you have made your deposit by bank transfer or bank deposit, you can start bidding once the transfer is reflected in your account.

If the security deposit is made online through a credit card, it will reflect in your auction account and you will be able to bid immediately, subject to the authorization of the transaction by master/visa. Please don't close the payment page until you successfully complete the transaction.

If your security deposit by cheque, you will be able to bid after submitting the cheque to one of the Emirates Auction branches.

If the deposit is made through bank transfer or bank deposit, please email us the transfer slip, make sure to write down your username and mobile number in the email. For remittance from outside UAE kindly provide the swift transfer details.

You can send us the deposit receipt either by uploading it in the mobile application or sending it by email to [email protected].

For all auctions except properties the security deposit can be made by any of the following methods:

• Credit card through our mobile application or website.
• Bank transfer or deposit to our account.
• Submit us a security cheque to any of our branches. please refer to question 7 to know the required documents 

For Properties Auction the security deposit must be made by any of the following methods:

• Manager cheque handed at any of Emirates Auction branches across UAE during the relevant working hours. 
• Bank transfer or deposit to our bank account.

Please visit the below link to know our bank account details. 

https://www.emiratesauction.com/contact-us

Yes. You can pay your security deposit by credit card through Emirates Auction mobile application or website.

You can use your credit card to make the security deposit for all auctions except for Property Auctions.

Security deposit made online through a credit card will reflect in your auction account immediately and you will be able to bid, subject to the authorization of the transaction by master/visa.

The security deposit amount held by Emirates Auction is 20% of your bidding limit. Emirates Auction has the right to capture/utilize/charge the authorized transaction of security deposit for non-payment, auction participation and defaulting payment after winning the assets. Emirates Auction reserves rights to capture/utilize/charge the authorized transaction upto 30 days from the transaction authorization date.  The customer will have no rights to dispute against the amount so captured/utilized/charged under any grounds. Auction charges or cancellation charges due to nonpayment of won assets will be at the discretion of Emirates Auction.

Any queries/ clarifications/ details with respect to online deposits made will be provided only up to a period of 3 months from the date of deposit. Emirates Auction will not be able to provide any details related to online deposit after 3 months.

In case the security deposit is paid thru a NON AED Debit / Credit Card (local as well as international), the amount of AED received by Emirates Auction will be refunded back to the customer. Emirates Auction will not be responsible for any Exchange loss/charges incurred by the customer while refunding the amount.

You can pay the security deposit by any of the following methods:

• Credit card using our website or mobile application.
• Bank transfer to our bank account.

Please visit the below link to know our account details. 

https://www.emiratesauction.com/contact-us

You can submit the security deposit in any of our office located in all the cities within UAE . Please visit the “Contact Us” section in our mobile application or website for our office locations. With the below requirement.

Guidelines/documents required for submitting Manager's cheque as the security deposit

·       Individual Account

1 Receipt of the Manager's Cheque
2 Emirates ID Copy
3 Bank Statement if source account details are missing from the Manager's Cheque Receipt.

·      Bidder Company AC

1 Receipt of the Manager's Cheque
2 Trade License copy
3 Bank Statement if source account details are missing from the Manager's Cheque Receipt
4 Authorization Letter for the Representative dealing with EA
5 MOA

·       Bidder Individual Account - Cheque From Company AC

1 Receipt of the Manager's Cheque
2 Trade License copy
3 Bank Statement if source account details are missing from the Manager's Cheque Receipt
4 Authorization Letter for the Representative Dealing with EA
 
·       Bidder Company AC  -Cheque from Individual AC

1 Receipt of the Manager's Cheque
2 Emirates ID Copy
3 Bank Statement if source account details are missing from the Manager's Cheque Receipt
4 Trade License copy
5 MOA

Yes, the deposit is 100% refundable if you do not have any outstanding balance with Emirates Auction. In case the security deposit is paid through a non-AED Debit/Credit Card/Bank Transfer (local as well as international), the amount of AED received by Emirates Auction will be refunded back to the customer. Emirates Auction will not be responsible for any exchange loss/charges incurred by the customer while refunding the amount.

You can refund your security deposit made by card by following the steps shown in the following link:https://www.youtube.com/watch?v=3RoJMpcfjPo. 

Your credit card pre-authorized deposit will be automatically refunded after 5 days from the transaction date if you don't have any outstanding balance or pending approval.

 You can also request an earlier refund by making a request using our Emirates Auction App or website. 

Please note that when you make an online security deposit by credit card, our system will only block the amount from your credit card. If the card-issuing bank did not release the amount, please raise a dispute with the card-issuing bank.

 The refund (Void Authorization) will be reflected back to your card/statement and may take up to 30 days, depending on your card-issuing bank. In case you have any outstanding balance/used limit/lots pending for approval, the refund (Void Authorization) will be done once all those are cleared.

You can refund your security deposit made by card by following the steps shown in the following link:https://www.youtube.com/watch?v=3RoJMpcfjPo.You will receive an SMS and email confirmation once your refund is processed. 

In case of transfers/cheque deposits in the Emirates Auction account, the amount will be transferred back to the original account from which the amount was transferred to Emirates Auction. If the amount is transferred to Emirates Auction from a non-AED account (local as well as international), the amount of AED received by Emirates Auction will be refunded back to the customer in the currency of their bank account. Emirates Auction will not be responsible for any exchange loss/charges incurred by the customer while refunding the amount.

No, we do not  issue cash refunds. Refunds will be made by cheque or bank transfer under the registered name.

Yes, if your security deposit was made in cash, bank transfer, or bank deposit.Also, in case of winning a property you can use your manager's cheque in the payment 

If the security deposit is not reflected in your account, please email us the transaction details or transfer slip from your registered Email to 

[email protected].