Most recent amendment: August 2026
This Withdrawal and Funds Release Policy (“Policy”) sets out (a) when Seller proceeds become eligible for a withdrawal request, (b) the conditions BidZid applies before approving and paying a withdrawal, and (c) the rules governing withdrawal or retraction of Bids before an Auction is complete. It forms part of the BidZid Terms and Conditions.
| Item | Details |
| Seller Service Fee | 8% of the final item sale price unless otherwise disclosed |
| Withdrawal Eligibility | 72 hours after successful Buyer payment, Seller proceeds less the applicable Service Fee may become available for the Seller to request withdrawal. |
| Buyer Dispute Window | 48 hours from actual delivery/collection or a delivery event reasonably established by BidZid; this runs separately from the 72-hour withdrawal-eligibility clock. |
| Payout Approval | A withdrawal request is not automatic payout. BidZid ordinarily verifies delivery/collection before approval, preferably through Buyer Confirm Receipt where the shipment workflow is used, or through other reliable evidence. BidZid may approve once reasonably satisfied that delivery/collection occurred and there is no known issue requiring a hold. |
| Confirm Receipt | Preferred evidence where the Seller has created a shipment. For pickup or other fulfilment, BidZid may rely on tracking, written Buyer confirmation, proof of handover, direct verification with the Buyer, or other reliable evidence. |
| Bid Retraction | Permitted before the Auction sale is complete, subject to applicable law and anti-manipulation rules |
| After Auction Completion | Winning Bid is binding subject to the Terms, Returns Policy and mandatory legal rights |
| Support | support@bidzid.app |
1. DEFINITIONS AND SCOPE
Capitalised terms not defined in this Policy have the meanings given in the BidZid Terms and Conditions. “Withdrawal Eligibility” means the point, normally seventy-two (72) hours after successful Buyer payment, when the Seller’s net proceeds may appear in the Vendor Dashboard as available for the Seller to request withdrawal. “Withdrawal Request” means a Seller’s request for payout of an eligible Wallet balance. “Payout Approval” means BidZid’s administrative approval of a Withdrawal Request after reasonable delivery or collection verification and consideration of any known Buyer-protection issue, payment issue, verification requirement, fraud concern or other legitimate risk. “Payout” means the transfer of an approved amount through the applicable bank, mobile-money or payment channel. “Transaction Hold” means BidZid’s continuing administrative control over payout even after Withdrawal Eligibility has arisen. A Wallet balance is an internal Platform ledger record and is not a bank account, savings account, deposit account or interest-bearing product.
2. WITHDRAWAL ELIGIBILITY AFTER PAYMENT
Subject to this Policy and successful payment processing, a Seller’s proceeds, after deduction of the applicable BidZid Service Fee, may become technically available for the Seller to request withdrawal seventy-two (72) hours after the Buyer makes payment. This 72-hour period runs from payment, not from delivery.
Withdrawal Eligibility is only the ability to submit a Withdrawal Request. It does not mean that BidZid has approved the request, that the transaction is final, or that the Seller is entitled to immediate payout. BidZid retains administrative control over approval and may keep a request pending until the conditions in this Policy are satisfied.
The Buyer’s 48-hour BidZid Guarantee reporting period runs from actual delivery or collection, or another delivery event reasonably established by BidZid. Because the 72-hour Withdrawal Eligibility clock runs from payment, a Seller may become eligible to request withdrawal before the item has been delivered or before the Buyer’s 48-hour reporting period has expired. The two periods are independent. BidZid may keep a Withdrawal Request pending where delivery has not yet been confirmed or another known issue requires review, but the 48-hour Guarantee is not a fixed 48-hour payout hold.
3. DELIVERY STATUS, BUYER CONFIRMATION AND PAYOUT APPROVAL
BidZid will not ordinarily approve a Withdrawal Request until the Seller has marked the relevant order or shipment Delivered through the Platform, or delivery/collection has otherwise been reasonably established to BidZid’s satisfaction. A Seller must not mark an order Delivered before actual delivery or collection. Once BidZid has reasonable evidence that delivery or collection occurred and there is no known dispute, payment issue, verification concern, fraud concern, chargeback or other legitimate reason to keep the request pending, BidZid may approve payout. BidZid is not required to wait for the full 48-hour BidZid Guarantee reporting period before approving payout.
Where the Seller creates a shipment through the order system, the Buyer may be shown a Confirm Receipt option. This is BidZid’s preferred normal workflow because it gives the Platform a direct Buyer acknowledgement of receipt. The option is generated by the shipment workflow and may not appear for every order or collection method. For pickup, handover or other fulfilment where Confirm Receipt is unavailable, BidZid may verify delivery or collection using carrier or tracking records, written Buyer confirmation, proof of collection or handover, direct contact with the Buyer, or other reliable evidence. Buyer confirmation is therefore preferred but is not the only acceptable evidence of delivery.
4. CONDITIONS BEFORE PAYOUT
BidZid may require the following before approving and paying a Withdrawal Request:
- completed identity and, where applicable, business and tax verification;
- a verified bank account or mobile-money destination held in the Seller’s own name or lawful business name, unless BidZid approves another arrangement;
- confirmation that the relevant transaction is not subject to an open Buyer claim, chargeback or payment reversal;
- absence of a court order, regulatory restriction, sanctions concern, fraud investigation or other legal impediment; and
- sufficient cleared funds after deduction of applicable fees, refunds, reversals and other properly due amounts.
BidZid may request updated KYC or payout information where details change, documentation expires or reasonable fraud or compliance concerns arise.
5. DEDUCTIONS, SERVICE FEE AND SET-OFF
Before payout approval or payout, BidZid deducts its 8% Service Fee from the final item sale price, unless a different fee was clearly disclosed before the relevant transaction. BidZid may also deduct or set off amounts that are properly due from the Seller for approved refunds, chargebacks, payment reversals, unrecoverable payment-provider fees, taxes or statutory deductions, or other amounts arising from the Seller’s breach, to the extent permitted by law and these Terms.
If a transaction is refunded because of Seller fault or material Seller breach, BidZid may retain or charge the Service Fee notwithstanding the refund, because the Platform service was provided and the reversal arose from Seller conduct, subject to applicable law. A Buyer’s approved refund will not ordinarily be reduced merely because the Seller owes BidZid a Service Fee.
6. PAYOUT PROCESSING TIME AND THIRD-PARTY DELAYS
Withdrawal Eligibility, Payout Approval and Payout are separate events. Once BidZid approves a Withdrawal Request, the time for the Seller to receive the money may depend on Paystack, the receiving bank or mobile-money provider, payment-network cut-offs, weekends, public holidays, verification requirements and technical outages. Approval or payout before the end of the Buyer’s 48-hour BidZid Guarantee reporting window does not automatically cancel an otherwise eligible claim submitted within that window. Where a valid claim is upheld after payout, BidZid may recover or set off the corresponding amount from the Seller to the extent permitted by the Terms and applicable law. BidZid does not guarantee an external provider’s settlement time but will use reasonable efforts to initiate approved payouts in accordance with its normal processing cycle.
Where a payout is rejected or returned by the receiving institution, BidZid may require corrected payout details and additional verification before retrying the transfer. The Seller is responsible for ensuring payout details are accurate.
7. HOLDS, RESERVES, CHARGEBACKS AND NEGATIVE BALANCES
BidZid may continue or impose a hold on all or part of a Seller balance where reasonably necessary because of an open dispute, chargeback, suspected fraud, unusual transaction pattern, KYC or tax issue, intellectual-property complaint, prohibited item concern, court order, regulatory request or payment-provider requirement.
Where refunds, reversals, fees or chargebacks exceed a Seller’s available balance, the Seller may have a negative balance. BidZid may set off the negative balance against future proceeds or request repayment, to the extent permitted by law.
BidZid will not use a hold as an arbitrary penalty. Holds will be linked to a legitimate transaction, legal, fraud, security or compliance reason and will be reviewed when the underlying reason is resolved.
8. UNCLAIMED OR INACTIVE BALANCES
Where a Seller does not request withdrawal of an eligible balance or an Account becomes inactive, BidZid may continue to record the balance in the Wallet subject to verification, lawful deductions and applicable unclaimed-assets or other legal requirements. BidZid may contact the Seller using registered contact details before taking any step required by law in relation to an unclaimed amount.
9. BID RETRACTION BEFORE AUCTION COMPLETION
A bidder may retract a Bid at any time before the Auction sale is complete, as permitted by applicable Kenyan law. BidZid will not impose a contractual rule that removes that right before completion.
Where the Platform provides a bid-retraction function, the bidder should use it. If no self-service function is available, the bidder must promptly contact support@bidzid.app with the Listing identifier and sufficient information to identify the Bid. A bidder should act as soon as the decision to retract is made to reduce disruption to the Auction.
Retraction of a Bid may change the current price, winning bidder or bid sequence according to the Platform’s technical rules. A bidder is responsible for ensuring a retraction request is made before the Auction closes; a request sent after completion does not undo a completed sale merely because the bidder intended to send it earlier.
10. ABUSE OF BID RETRACTIONS
Bid retraction must not be used to manipulate price, reveal another bidder’s maximum, coordinate with a Seller, suppress competition or disrupt an Auction. BidZid may restrict or suspend a User who engages in a pattern of abusive or fraudulent bidding, provided that enforcement will not remove a bidder’s legal right to retract a Bid before the sale is complete.
11. WITHDRAWAL AFTER AUCTION COMPLETION
Once an Auction sale is complete and the winning Bid has been recorded and communicated in the Platform’s customary electronic manner, the winning Buyer may not withdraw solely because of a change of mind. The completed purchase remains subject to the BidZid Terms and Conditions, the Returns, Refunds and Buyer Protection Policy and any mandatory statutory rights.
If a completed transaction resulted from a material system error, fraud, duplicate or corrupted bid, unlawful Listing or other exceptional circumstance, BidZid may investigate and take appropriate corrective action subject to applicable law.
12. NON-PAYMENT BY A WINNING BUYER
A winning Buyer must pay within the period displayed or notified for the transaction. Failure to pay without a lawful basis or accepted resolution may result in cancellation of the transaction, temporary or permanent bidding restrictions, suspension of the Account and other proportionate measures permitted by the Terms.
BidZid will not operate a public “blacklist” merely because a User failed to pay. Internal fraud-prevention and account-enforcement records will be handled in accordance with the Privacy Policy and applicable data-protection law.
13. BIDDER DEPOSITS, WHERE USED
BidZid may require a bidder deposit for a particular category or Auction only where the requirement, amount, purpose, conditions for refund and any lawful circumstances of forfeiture are clearly disclosed before the bidder participates. No deposit forfeiture applies unless the relevant deposit terms were disclosed and the forfeiture is permitted by law.
14. SELLER WITHDRAWAL OR CANCELLATION OF A LISTING
A Seller may withdraw a Listing before any valid Bid has been placed, subject to any Platform rule or fee disclosed at the time. After a valid Bid has been placed, the Seller should not cancel or withdraw the Listing except for a genuine error, loss or destruction of the item, legal prohibition, safety concern or another reason accepted by BidZid.
A Seller must not withdraw an item merely because the bidding price is lower than hoped where the Auction was not subject to a reserve price. A reserve price should be set before bidding where the Seller is unwilling to sell below a stated minimum.
BidZid may cancel or suspend a Listing where required for fraud prevention, legal compliance, prohibited-item enforcement, intellectual-property protection or correction of a material technical error.
15. SELLER ACCOUNT CLOSURE AND OUTSTANDING TRANSACTIONS
A Seller may request Account closure, but closure does not accelerate Withdrawal Eligibility, require BidZid to approve a pending Withdrawal Request, or cancel outstanding sales, refunds, chargebacks, tax obligations, disputes or amounts owed to BidZid. Payout of any remaining eligible balance remains subject to delivery status, final verification, applicable Buyer protection and lawful deductions.
16. CHANGES AND CONTACT
BidZid may update this Policy prospectively for legal, regulatory, payment-provider, security or operational reasons. Material changes will be communicated by reasonable notice and will not retrospectively alter the payout rules attached to a completed transaction except where required by law or necessary to resolve fraud, chargeback or regulatory risk.
Questions about withdrawals, payouts or bid retractions may be sent to support@bidzid.app. General enquiries may be sent to info@bidzid.app. Bidzid Technologies Limited is located at Shanzu Road, Westlands, Nairobi, Kenya.