Privacy Policy

CostMasters Technologies Pvt. Ltd. ("we", "us", "Auction Company") operates the BidMasters Platform and is committed to protecting the privacy and security of personal data submitted to or collected through the Platform. This Privacy Policy describes what data we collect, how we use it, and your rights in relation to it. By using the Platform, you consent to the practices described herein.

The data controller for personal data processed through the Platform is:

CostMasters Technologies Pvt. Ltd. (operating BidMasters), Plot No. D-152, Phase 8, Industrial Area, Mohali – 160059, Punjab, India.

For privacy-related queries, contact us at: cir@costmasters.in.

2.1 Registration & KYC Data

• Full name, designation, and organisation details.
• Contact information: email address, phone number, correspondence address.
• Government-issued identity and business registration documents (as required for KYC compliance).
• Bank account / GSTIN details where required for transaction processing.

2.2 Bidding & Transactional Data

• Bid amounts, timestamps, event participation records, and auction outcomes.
• EMD (Earnest Money Deposit) payment records.
• Correspondence with the Auction Company or Seller through the Platform.

2.3 Technical & Usage Data

• IP address, device type, browser type, and operating system.
• Log data: pages visited, time spent, clicks, session duration.
• Cookies and similar tracking technologies (see Section 7).

We process your personal data for the following purposes:

• Account registration, authentication, and KYC verification.
• Operating, administering, and improving the Platform and auction events.
• Communicating auction-related notifications, updates, and results.
• Maintaining complete and tamper-evident audit trails of bidding activity.
• Processing EMDs, refunds, and other financial transactions.
• Complying with legal, regulatory, and tax obligations under applicable Indian law.
• Detecting and preventing fraud, security incidents, or unauthorised access.
• Analytics and service improvement (in aggregated, anonymised form where possible).

We do not sell your personal data. We may share it with:

• Sellers: Transactional and bidding data necessary for the Seller to evaluate bids, award auctions, and execute sale contracts.
• Payment processors and banks: For EMD collection, verification, and refund processing.
• Statutory and regulatory authorities: When required by law, court order, or government regulation (e.g., income tax, GST authorities).
• Technology service providers: Cloud hosting, IT security, and maintenance vendors acting as data processors under confidentiality obligations.
• Professional advisors: Legal, audit, or compliance consultants bound by professional secrecy obligations.

In all cases, data is shared only to the extent necessary for the stated purpose.

We retain personal data for as long as your account is active and for a period of seven (7) years thereafter (or as required by applicable law—whichever is longer) for audit, legal, and tax compliance purposes. Bidding records and auction audit trails may be retained indefinitely in anonymised form.

We implement appropriate technical and organisational measures to protect your data against unauthorised access, disclosure, alteration, or destruction. These include:

• Encrypted storage and transmission (TLS/HTTPS).
• Role-based access controls limiting internal access to authorised personnel.
• Regular security assessments and vulnerability testing.

You are responsible for maintaining the confidentiality of your login credentials. Please report any suspected compromise promptly to cir@costmasters.in.

The Platform uses essential cookies to maintain login sessions and ensure proper functionality, as well as analytics cookies to understand usage patterns. You may disable non-essential cookies via your browser settings; however, this may affect Platform functionality.

Under applicable Indian data protection law, you have the right to:

• Access: Request a copy of personal data we hold about you.
• Correction: Request correction of inaccurate or incomplete data.
• Erasure: Request deletion of data (subject to legal retention requirements).
• Grievance Redressal: Lodge a complaint regarding data processing.

To exercise these rights, write to us at cir@costmasters.in. We will respond within thirty (30) days.

The Platform may contain links to third-party websites. We are not responsible for the privacy practices of those sites and encourage you to review their privacy policies independently.

We may update this Privacy Policy from time to time. Updated versions will be posted on the Platform with a revised effective date. Continued use of the Platform after such updates constitutes your acceptance of the revised Policy.

This Privacy Policy is governed by the laws of India. Any disputes shall be subject to the exclusive jurisdiction of courts at Mohali, Punjab, India.