Intending Purchaser who possess a Bank Draft be equal to 5% or 10% (whichever applicable) of the fixed Reserve Price is qualified to become a bidder.
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 Identity Card photocopy of the intending purchaser .
2. WHAT TO PRODUCE AT THE AUCTION.
i. Bring along the IC card to qualify to bid and present it for identification and registration.
Important to submit Bank Draft amounting 5% or 10% (whichever applicable) of the fixed Reserve Price.
Do bring extra Fund as additional deposit to subsidize if there is increment on the fixed Reserve Price.
Specify your details required in the Bidder’s Registration Form.
3. WHAT TO NOTE AT THE AUCTION.
Always check the specific deposit amount requested and the Bank Draft is correctly payable.
Unprepared and unattentiveness during call bids at the auction, will make you lose a probable opportunity.
Certainly do not bring Personal or Company cheques as Auction deposits.
To be present earlier to avoid dissappointment.
It is important to listen to the Auction proceedings very carefully to avoid unawareness.
Observe the details provided in the Memorandum of Sale are correct before endorsement.
Necessary to switch off or vibrate the handphone 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.
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iii. Final check out with Auctioneer before turning up for auction.