FAQs

We don’t charge any additional charges from Buyer.

Once Bid is placed you cannot cancel your Bid.

If you are H1 Bidder your EMD gets adjusted in the final lifting.Otherwise for other participants not qualifying, EMD gets refunded within2-3 working days.

No we don’t charge any registration fee from buyer.We work on Dynamic commission module ,were we charge only from sellers.

At Global ScrapX, we host real-time online auctions for industrial scrap materials. Here’s how the process works:

📝 1. Registration
Buyers and sellers must register on our platform. KYC verification may be required before participation.

💰 2. EMD Submission
To participate in an auction lot, buyers must pay the Earnest Money Deposit (EMD).
This EMD is held securely by us and is refundable under specific conditions.

📦 3. Auction Listing
Each lot includes:

• Material description
• Photos/videos
• Quantity & location
• Inspection schedule (if any)

🔨 4. Live Bidding

• Auctions run for a fixed time.
• Buyers place real-time bids.
• Last-minute bids may auto-extend the auction.

🏆 5. Winning & Payment

• Highest bidder wins the lot.
• Final payment (excluding EMD) goes directly to the seller.

🚚 6. Lifting & Delivery

• Buyer arranges their own transportation and labour.
• Material must be lifted within the stated time.

🔒 7. Transparency
Global ScrapX acts as a platform only — we do not own or grade materials.
Our role is to facilitate fair, secure bidding.

It is suggested to inspect the material before bidding ,to clear any doubts regarding quality or quantity.

The final payment is to be send directly to seller deducting the emd amount given past auction.