GUIDE TO BID

1. WHO MAY BID

i.                    Intending Purchaser who possess a Bank Draft/Banker’s Cheque be equal to 5% or 10%  (whichever applicable) of the Reserve Price is qualified to become a bidder.

ii.                   Qualified bidder may delegate another to act as an agent or representative in his behalf.  The delegate is required to submit a Letter of Authority and NRIC card photocopy of the intending  purchaser .

2.  WHAT TO PRODUCE AT THE  AUCTION.

i.                   Bring along the NRIC card to qualify to bid and present it for identification and registration.

ii.                Important to submit Bank Draft/Banker’s Cheque amounting 5% or 10%  (whichever applicable) of the Reserve Price.

iii.                Do bring extra fund as Additional Deposit to subsidize if there is increment on the Reserve Price.

iv.                 Specify your details required in the Bidder’s Registration Form.

3. WHAT TO NOTE AT THE AUCTION.

i.                   Always check the specific amount requested and the Bank Drafts/Banker’s Cheque are correctly payable.

ii.                Unprepared and unattentiveness during call bids will make you lose a probable opportunity. 

iii.                 Certainly do not bring personal or company cheques as Auction deposits.

iv.                  To be present  earlier to avoid dissappointment.

v.                    It is important to listen to the Auction proceeding very carefully to avoid unawareness.

vi.                Observe the details provided are correct in the Contract of Sale  before endorsement.

vii.               Necessary to switch off or vibrate  all your cell phones to avoid interuption during auction.

 4. NECESSARY DOCUMENTS FOR  BIDDING.

For an individual bidder:-

-            a photocopy of his / her NRIC card (both sides)

-            correspondence address

-            telephone contact no.

For a Corporation:-

-            a certified true copy of the Company’s Memorandum and Articles of Association.

-            Form  24 and 49

-            Board of Directors’ Resolution

For Agent/ Representative

-            Letter of Authority from the Intending Purchaser

-            a photocopy of the  NRIC card (both sides)

5.  HOMEWORK TO DO BEFORE  ATTENDANCE AT  AUCTION.

i.          Obtain the Proclamation, Conditions and Terms of  Sale from the Auctioneer.

ii.         Make necessary enquiries and confirm essential documents to be furnish for participation.

iii.        Final check out with Auctioneer before turning up for auction.