Terms of Service

These Terms of Service ("Terms", "Agreement") constitute a legally binding agreement between you ("User", "You", "Buyer", "Seller", or "Partner") and BiharAssets ("Platform", "BiharAssets.com", "we", "us", or "our").

By accessing, browsing, registering, or using BiharAssets to list, discover, or contact owners of assets (including real estate, vehicles, and machinery), you explicitly accept and agree to comply with all provisions herein. If you do not agree to these Terms, you must discontinue platform use immediately.

1. Platform Role & Intermediary Status

Online Marketplace Portal: BiharAssets.com is an independent digital marketplace and advertising platform operated under Section 79 of the Information Technology Act, 2000. BiharAssets is NOT a registered company, corporate real estate firm, property dealer, licensed brokerage, builder, financial institution, or government authority. Unless expressly stated in writing for a specific service, BiharAssets provides technology, search, listing, communication, and advertising infrastructure. It is not a party to user-to-user transactions and does not act as the owner, buyer, seller, broker, legal adviser, valuer, lender, or escrow provider.

Intermediary Safe Harbor: The Platform provides computer software and database hosting for third-party user-generated listings. We do not initiate data transmissions, do not choose the receiver of transmissions, and do not modify the listing content supplied by users.

No Brokerage or Deal Agency: BiharAssets does not charge transaction brokerage on user-to-user deals. We never represent either the buyer or seller in any transaction.

2. Zero Deal Brokerage vs. Platform Utility Plans

Zero Commission on Deals: BiharAssets operates on a strict zero-brokerage philosophy. We NEVER charge 1% to 2% deal commissions or transactional cuts on any property, vehicle, or asset sale completed between users.

Platform Utility Plans: To sustain software development, server infrastructure, SMS OTP costs, and spam mitigation, BiharAssets may charge nominal, transparent fees for optional software utilities (such as contact unlock credits, verified seller badges, or featured listing placement). These fees represent payments for software tools and do NOT represent deal facilitation or legal certification of assets.

3. RERA Bihar Compliance Mandate

The Real Estate (Regulation and Development) Act, 2016 ("RERA") requires that commercial and residential real estate projects must be registered with RERA prior to public advertising.

Promoter & Agent Mandate: Any builder, promoter, or agent advertising projects subject to RERA Bihar is strictly required to include their valid Bihar RERA Registration Number in the listing details.

Right to Delist: BiharAssets reserves the right to review, suspend, or delist any listing that fails to provide verified RERA details when challenged or reported, in accordance with applicable rules.

4. Limitation of Liability for User-to-User Transactions

BiharAssets does NOT process or hold transaction funds for asset purchases and never acts as an escrow between buyers and sellers. Users remain solely responsible for their transactions.

5. User Rules & Prohibited Content (IT Rules 2021)

In accordance with Rule 3(1)(b) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, users agree NOT to host, display, upload, modify, publish, transmit, or share any information that:

• Belongs to another person and to which the user does not have any legal right or authorization.
• Is defamatory, obscene, invasive of another's privacy, hateful, or racially/ethnically objectionable.
• Misrepresents ownership of government land, forest reserve land, or properties under court stay/attachment.
• Infringes any patent, trademark, copyright, or other proprietary rights.
• Deceives or misleads the addressee about the origin of the message or knowingly communicates false information.
• Impersonates another person or entity.
• Contains software viruses or malicious code designed to disrupt platform operations.

We reserve the right to immediately terminate user accounts and remove offending listings within statutory timelines upon receiving authentic grievance reports.

6. Mandatory Buyer Due Diligence

Every buyer or lessee on BiharAssets is legally required to execute comprehensive independent due diligence:

• Land & Real Estate: Verify Khatiyan, Jamabandi, Land Possession Certificate (LPC), non-encumbrance status, and mutation history through the Bihar Government Land Revenue portal (Bhumijankari / Revenue and Land Reforms Department) or sub-registrar offices before transferring any funds.
• Vehicles & Machinery: Verify physical fitness, chassis/engine serials, registration certificates (RC) via Parivahan portals, finance hypothecation status, and state road tax clearances.

7. Limitation of Liability & Maximum Cap

To the fullest extent permitted by applicable Indian law, BiharAssets, its founders, contributors, and team members shall have zero liability for any direct, indirect, incidental, punitive, or consequential damages resulting from platform use, offline interactions, or third-party listings.

In any circumstance where liability is judicially determined, the maximum aggregate financial liability of BiharAssets to any user shall be strictly capped at the amount paid by the user for digital platform services in the preceding 30 days or ₹100 (INR One Hundred), whichever is less.

8. User Indemnity

You agree to defend, indemnify, and hold harmless BiharAssets, its founders, and contributors from and against any claims, losses, liabilities, legal actions, or expenses (including reasonable advocate fees) arising out of your breach of these Terms, listing misleading properties, or violating any state or central law.

9. Jurisdiction & Governing Law

These Terms shall be governed by and construed in accordance with the substantive laws of the Republic of India. Any disputes or claims arising out of platform usage shall be subject to the exclusive jurisdiction of the competent courts located at Bhagalpur / Patna, Bihar, to the exclusion of all others.

10. Grievance Officer & Statutory Timelines

In accordance with the Information Technology Act, 2000 and Rule 3(2) of the IT (Intermediary Guidelines) Rules, 2021, grievance reports will be acknowledged within 24 hours and addressed within 15 business days.