At Auction Sample Clauses
At Auction
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The Auction Section 2.01. Purpose: Incorporation by Reference of Auction Procedures and Settlement Procedures....
BEFORE AUCTION 4.1 All intended bidder can access to the ESZAM AUCTIONEER SDN BHD website to download the Proclamation of Sale (POS) & Conditions of Sale (COS). By proceeding with E-bidding with ESZAM AUCTIONEER SDN BHD, the E-bidders’ have agreed and accepted the ESZAM AUCTIONEER SDN BHD terms and conditions. Any bid by registered E-bidder shall not be withdrawn once entered. 4.2 All intended bidders can choose either to attend the auction physically (On-site bidder) or by E-bidding. For E-bidding, they can bid online from any places as long as the E-bidder has the device and good internet connection to log in to our ESZAM AUCTIONEER SDN BHD website and click on eZ2Bid button. 4.3 The E-bidder will receive the Bidding Code one (1) day before auction date and link to bid online via email and SMS once ESZAM AUCTIONEER SDN BHD receiving of the deposit.
AFTER AUCTION 6.1 Any successful E-bidders shall and undertake to sign the Contract of Sale within three (3) working days. 6.2 The Auctioneer shall send the Contract of Sale for stamping and thereafter forward the same together with the deposit paid to the Assignee/Bank. 6.3 For stamping of 5 contracts, the successful E-bidders shall transfer RM100.00 to the ESZAM AUCTIONEER SDN BHD bank account or pay by cash when signing the Contract of Sale within two (2) working days from the Auction day.
Prior To The Auction Sale a. The Assignee reserves the absolute right at any time to vary, alter, amend or add to the particulars and/or these Conditions of Sale. b. The bidders shall register as E-Bidders (as defined in the Auctioneer’s Online Terms and Conditions) and comply with all the requirements as provided in the Auctioneer’s Online Terms and Conditions. c. All intending bidders shall be required to scan and upload the following document(s) to the Auctioneer’s Website in order to verify their identities during the registration stage as the “E-Bidders”,: (i) For individual bidders, a color copy of their identity cards (front and back); or (ii) For non-individual bidders, certified copies of the Form 24; Form 44; Form 49 (or its equivalent forms under the Companies Act 2016); Memorandum and Articles of Association/Constitution of the bidders in compliance with Companies Act 2016 and a duly signed Board of Directors’ Resolution) failing which they shall not be entitled to bid. d. Any person intending to bid on behalf of another individual, company, society, firm or body corporate shall upload / fax / e-mail the following documents to the Auctioneer’s Website / Auctioneer prior to the auction, the following documents: (i) an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s full name, identity and address and stating that he/she is acting on behalf of the said individual, company, society, firm or body corporate and is authorised to sign all the necessary documents (“Letter of Authority”); and (ii) for individual, a colour copy of the principal’s NRIC (front and back); or (iii) for non-individual, certified copies of the Form 24; Form 44; Form 49 (or its equivalent forms under the Companies Act 2016); Memorandum and Articles of Association/Constitution of the company in compliance with Companies Act 2016 and a duly signed Board of Directors’ Resolution) of the principal failing which the bidder shall be deemed to contract in his own name and not as an agent for another. e. All intending bidders (with the exception of the Assignee) shall deposit with the Auctioneer a sum equivalent to 10% of the fixed reserve price for the Property by way of bank draft or cashier’s order crossed “A/C PAYEE ONLY” made payable to HONG ▇▇▇▇▇ BANK BERHAD/RATU ERAT HOLDINGS SDN BHD or remit the same through online banking transfer to the bank account designated by the Auctioneer, ONE (1)
THE AUCTIONEER 2.1 The Auctioneer conducting the auction sale of property shall be as named in the Proclamation of Sale and/or an Auctioneer so appointed/engaged by the Auctioneer or the Auctioneer’s Company (“Licensed Auctioneer”). 2.2 The Auctioneer shall not in any manner or for any reason whatsoever be deemed to be an agent of the Assignee of the property, MBSB BANK BERHAD.