Refund Policy

Last updated September 23, 2026

This page explains how an earnest money deposit (EMD) you pay through GoldLelam is refunded. GoldLelam facilitates the payment; the bank running the auction controls the deposit and decides when it is refunded, adjusted, or forfeited.

DRAFT — to be reviewed by legal. Not yet a final, binding version.

1The EMD is bank-controlled

Each listing bank sets its own EMD amount, and its own rules for when a deposit is refunded, adjusted against a winning bid, or forfeited. GoldLelamcollects the payment on the bank's behalf through our payment provider and does not decide the outcome.

2If you don't win the lot

Your EMD is refunded by the bank to the account or payment method it collects refund details for, on that bank's own timeline. Typical bank timelines run 3–15 business days after the auction closes; the exact timeline for a specific auction is stated on that auction's listing.

3If you win the lot

Your EMD is adjusted against the amount you owe, per the terms the bank stated for that auction.

4If a deposit is forfeited

A bank may forfeit an EMD where a winning bidder fails to complete payment and collection within the time the bank set, or under any other condition that bank's own auction rules state. That decision belongs to the bank, not to GoldLelam.

5If an auction is cancelled or postponed

Where a bank cancels or postpones an auction, EMDs already paid for it are refunded in full, on that bank's timeline.

6If your refund hasn't arrived

Check the timeline stated on the auction listing first. If it has passed, write to us at info@calecutech.com with the auction and bank name, and we will follow up with the bank on your behalf — GoldLelam does not hold or control the funds, so we cannot issue the refund directly.