BIDZ Auction operates under a transparent, trade-based model aligned with Islamic financial principles. Unlike gambling or speculative lotteries (Gharar), participation requires the purchase of a legitimate physical or digital product. Every transaction is backed by a real asset, ensuring fairness, ownership, and ethical compliance.
1. Voucher Credits System:
In BIDZ Auction, vouchers function as platform credits that users can redeem and use within the BIDZ ecosystem. When participating in an auction, users receive voucher credits with real value that can be applied toward eligible products, services, or future platform offerings. This ensures that every purchase provides tangible utility and value, making participation asset-backed rather than based solely on chance.
2. The Purchase Rule:
Users do not pay for a "chance." Participation begins only after purchasing a product at its fair market value through Web2 (Fiat) or Web3 (Crypto) payment gateways. Raffle entries are granted as a promotional reward tied to the completed purchase, not as a standalone purchase.
3. Product Claim & Ownership:
Upon successful purchase, the user immediately owns the item and has full rights to claim it without delay. Users may:
• Instantly confirm and claim their purchased product.
• Choose between physical pickup at authorized BIDZ centers in Iraq or international shipping (subject to local and U.S. trade regulations).
• For digital products, access or delivery is granted instantly after confirmation.
This ensures that every user receives guaranteed value regardless of raffle participation.
4. Raffle Entry Mechanism:
After completing a purchase, users automatically receive raffle entries as a bonus. Entry into raffles is immediate and requires no additional action or payment.
Important principles:
• Raffles are not time-based — they are entry-based.
• Each raffle has a fixed maximum number of entries.
• Once the entry limit is reached, the raffle closes automatically.
• A winner is then selected transparently from all valid entries.
This structure removes uncertainty tied to time and ensures fairness based purely on participation volume.
5. Fairness & Transparency:
All raffle outcomes are conducted using verifiable and transparent selection methods. Each entry is recorded, and users can track participation and results. BIDZ ensures no manipulation, hidden conditions, or artificial delays in winner selection.
6. Logistics (Web2 & Web3):
Products can be purchased using traditional payment methods or blockchain-based assets. Physical goods can be picked up at authorized locations or shipped globally, while digital goods are delivered instantly. All logistics comply with applicable trade and shipping regulations.
