IDENTITY VERIFICATION AND PLATFORM PARTICIPATION POLICY

1. PURPOSE

This Identity Verification & Platform Participation Policy explains how IPK verifies users who wish to participate in Auctions conducted through the Platform.

This Policy should be read together with:

• the Auction Terms & Conditions;
• the Bidder Participation Agreement;
• the Consumer Summary & Risk Notice;
• the Fees & Charges Policy;
• the Privacy Policy.

The purpose of this Policy is to:

• promote auction integrity;
• reduce fraud;
• improve bidder accountability;
• support fair participation in Auctions;
• explain how bidding privileges are activated.

2. OPERATOR

3. REGISTERED USERS AND APPROVED BIDDERS

A Registered User is a person who has created an account on the Platform.

Registered Users may

• browse Properties;
• review public information;
• access permitted content;
• maintain an account.

Registered Users are not automatically entitled to place bids.

Approved Bidders

An Approved Bidder is a Registered User who has successfully completed the bidder activation process described in this Policy.

Only Approved Bidders may place bids in Auctions.

4. WHEN VERIFICATION OCCURS

Payment card setup is required as part of buyer registration. Card setup does not itself place an authorisation hold or take payment.

Identity and auction-specific verification are normally triggered before a user submits a first bid.

Before a first bid can be submitted, the user may be required to complete:

• identity verification;
• registration of an active payment method;
• auction participation acknowledgements;
• any additional procedures reasonably required by IPK.

IPK may require verification at an earlier stage where reasonably necessary.

5. BIDDER ACTIVATION

Bidder activation is the process through which a Registered User becomes an Approved Bidder.

Completion of bidder activation may require:

• successful identity verification;
• successful payment method verification;
• acceptance of applicable auction documentation;
• compliance with Platform requirements.

IPK may refuse bidder activation where verification requirements are not satisfied.

6. IDENTITY VERIFICATION

IPK may use independent identity verification providers, including Veriff or equivalent providers.

Identity verification may include

• government-issued identity document verification;
• facial comparison procedures;
• liveness testing;
• authenticity checks;
• fraud-prevention checks.

Identity verification is intended to help establish that the individual seeking to participate in an Auction is a real person using genuine identification credentials.

7. PURPOSE OF IDENTITY VERIFICATION

Identity verification is conducted for purposes including:

• fraud prevention;
• auction integrity;
• user authentication;
• account security;
• operational risk management;
• dispute resolution support.

Identity verification helps reduce abusive or fraudulent participation in Auctions.

8. PAYMENT METHOD VERIFICATION

Prior to bidding, users may be required to register a payment method.

IPK may utilise payment service providers including Stripe and associated payment infrastructure providers.

Payment method verification may include

• card validation;
• cardholder authentication;
• 3D Secure authentication where available;
• payment risk assessment procedures implemented by the payment provider.

The purpose of payment method verification is to support Platform integrity and collection of fees properly payable under the auction framework.

9. AUCTION PARTICIPATION ACKNOWLEDGEMENTS

Before becoming an Approved Bidder, users may be required to confirm that they have:

• reviewed the applicable auction documentation;
• accepted the Auction Terms & Conditions;
• accepted the Bidder Participation Agreement;
• accepted the Fees & Charges Policy;
• accepted other applicable Platform documentation.

Users may also be required to acknowledge the Successful Bidder Infrastructure Fee and its payment triggers before bidding privileges are activated.

10. WHAT VERIFICATION DOES NOT MEAN

Identity verification and payment method verification are limited verification procedures.

They do not constitute a representation, warranty or confirmation that a user:

• possesses sufficient funds to purchase a Property;
• has mortgage approval;
• is creditworthy;
• intends to complete a transaction;
• is capable of completing a transaction;
• satisfies requirements imposed by lawyers, banks, notaries or other professional advisers involved in the transaction.

Verification confirms identity and participation credentials only.

IPK does not guarantee the financial capability, intention or ability of any bidder to complete a transaction.

11. ADDITIONAL REVIEW RIGHTS

IPK may undertake additional verification procedures where reasonably necessary to:

• protect the integrity of the Platform;
• investigate suspicious activity;
• prevent fraud;
• comply with legal obligations;
• manage operational risk.

The nature and scope of any additional review shall be determined by IPK acting reasonably.

12. USER RESPONSIBILITIES

Users are responsible for

• providing accurate information;
• maintaining current contact details;
• protecting account credentials;
• ensuring that verification information remains accurate;
• cooperating with reasonable verification requests.

Failure to comply may affect participation rights.

13. FRAUD PREVENTION

IPK is committed to maintaining the integrity of the Platform and reducing fraudulent activity.

To support these objectives, IPK may implement measures designed to detect, investigate and prevent:

• identity fraud;
• account misuse;
• impersonation;
• payment fraud;
• auction manipulation;
• collusive activity;
• abusive platform behaviour;
• unauthorised account access.

IPK reserves the right to take reasonable action where fraudulent or suspicious activity is identified or suspected.

14. SUSPICIOUS ACTIVITY

IPK may review activity that appears unusual, inconsistent or suspicious.

Examples may include

• multiple accounts associated with the same individual;
• inconsistent identity information;
• unusual bidding patterns;
• attempts to circumvent Platform controls;
• payment anomalies;
• suspected use of false information;
• conduct that may compromise auction integrity.

The existence of a review does not imply wrongdoing.

IPK may request additional information where reasonably necessary.

15. REFUSAL OF BIDDER ACTIVATION

IPK may refuse bidder activation where:

• verification procedures are not successfully completed;
• information supplied appears inaccurate or misleading;
• fraud concerns exist;
• operational risk concerns exist;
• participation may adversely affect Platform integrity;
• the user fails to cooperate with reasonable verification requests.

IPK is not obliged to disclose internal fraud prevention methodologies or security procedures.

16. ACCOUNT RESTRICTIONS

IPK may restrict, suspend or revoke bidding privileges where reasonably necessary to:

• investigate suspected misconduct;
• investigate fraud;
• investigate security concerns;
• protect Platform integrity;
• protect other users;
• comply with legal obligations.

Restrictions may be temporary or permanent depending upon the circumstances.

17. ACCOUNT SECURITY

Users are responsible for maintaining the security of their accounts.

Users should

• keep passwords confidential;
• avoid sharing login credentials;
• use secure devices;
• notify IPK promptly if unauthorised access is suspected.

Users remain responsible for activity conducted through their accounts unless proven otherwise.

18. PLATFORM INTEGRITY

Participation in Auctions is subject to compliance with the auction framework and Platform rules.

Users must not

• manipulate Auctions;
• interfere with Platform operations;
• use automated bidding tools unless expressly authorised;
• misuse Platform information;
• attempt to circumvent verification procedures.

IPK may take reasonable measures to preserve the integrity of Auctions and Platform operations.

19. RECORDS AND AUDIT TRAILS

IPK may maintain records relating to:

• account registration;
• identity verification status;
• payment method verification status;
• acceptance of Platform documentation;
• bidding activity;
• communications;
• Platform activity.

Such records assist with

• fraud prevention;
• dispute resolution;
• operational administration;
• auction integrity.

20. ELECTRONIC EVIDENCE

Users acknowledge that electronic records maintained by IPK may be relied upon as evidence of:

• account activity;
• acceptance of Platform documentation;
• bidder activation;
• bidding activity;
• communications;
• payment authorisations;
• verification events.

Subject to applicable law, such records may constitute prima facie evidence of the matters recorded unless manifest error is demonstrated.

21. THIRD-PARTY VERIFICATION PROVIDERS

IPK may utilise independent service providers in connection with:

• identity verification;
• payment authentication;
• fraud prevention;
• account security;
• operational support.

The identity verification provider or payment provider may change from time to time.

Reference within this Policy to Veriff, Stripe or any other provider is illustrative only and does not create any obligation on IPK to use a specific provider.

22. NO GUARANTEE OF PARTICIPANTS

Completion of verification procedures does not constitute a representation or warranty by IPK regarding:

• a bidder's financial capability;
• a bidder's creditworthiness;
• a bidder's intention to proceed;
• a bidder's ability to complete a transaction;
• a bidder's future conduct.

The purpose of verification is to support participation integrity and reduce fraud.

Verification should not be interpreted as certification of a participant's ability to complete a Property transaction.

23. DATA PROTECTION

Personal data processed in connection with verification procedures shall be handled in accordance with:

• applicable data protection legislation;
• the IPK Privacy Policy;
• contractual requirements associated with operation of the Platform.

Users should review the Privacy Policy for further information regarding the processing of personal data.

24. CHANGES TO THIS POLICY

IPK may update this Policy from time to time.

The most recent version shall be made available through the Platform.

Users should review the current version before participating in Auctions.

Continued use of the Platform following publication of an updated version may require renewed acceptance of applicable Platform documentation.

25. CONTACT DETAILS