BIDDERS FORM AGREEMENT- AUTO AUCTION – OCTOBER 10, 2020
1. You must be a registered bidder to participate in this auction, whether the registered bidder wishes to bid live, through simultaneous broadcast, or through our online time auction lots, Absentee or Phone Bidding. Auctioneer may refuse registration and disqualify a bidder if AUCTIONEER’s records show applicant bidder’s non-compliance with the bidding rules and procedures during previous auctions. Upon registration and payment of a Bid Deposit of Twenty Thousand Pesos (Php 20,000.00), a bid number/bid card will be issued allowing the bidder to participate in the auction.
The Bid Deposit shall automatically be put on hold as security bond in the event the bidder wins at the auction. The Bid Deposit shall answer for any damage or injury caused by the participating bidder to the person or property of the Seller, AUCTIONEER or other bidder or their agents, employees or representative during the course of his participation at the auction or pull out of the vehicle he won at the auction or for failure to comply with the bidding rules. For non-winning bidders, the Bid Deposit shall be refunded on the same day of the auction if paid via cash or within 5 days if paid via bank deposit or check and upon determination by the Auctioneer that the bidder does not have any outstanding due to Auctioneer. The Bid Deposit shall not operate to limit the liability of the bidder nor relieve the bidder from any of his duty for its breach of the bidding rules and conditions.
2. Bidder must present a valid government issued ID at the auction venue for purposes of identification. Any of the following may be presented:
Driver’s license; SSS ID; GSIS ID; Passport; PRC; IBP.
3. The Auctioneer shall regulate the conduct of the auction. In all cases, the AUCTIONEER has the sole discretion to accept or reject a bid. ALL BIDS ARE FINAL AND NON-RETRACTABLE.
a. On-site- Bidders must raise their hand should they agree with the amount stated by the AUCTIONEER. Alternatively, a bidder may shout a counter bid higher or lower than the current bid while raising up his hand. Only bid recognized by the AUCTIONEER shall be valid.
b. Online- Bidders may access HMR’s bidding platform at HMRbid.com or live.hmrbid.com or HMR Auctions App to join a live stream of the auction in real time. Bidder agrees that AUCTIONEER shall not be liable for any loss or damage arising out of or resulting from: failure of any information or data to be transmitted or received in a timely manner, interruption of any data transmission or use of or inability to use the HMRbid.com service. Furthermore, AUCTIONEER does not guarantee that bids placed via online will be transmitted or received by the AUCTIONEER in a timely manner.
4. If the bid price is below the Reserve Selling Price (RSP), the vehicle will remain unsold. However, the AUCTIONEER will get the highest bid for recording. After the auction, any unsold lot/vehicle will be made available for sale by negotiation and this shall be subject for Seller’s approval. AUCTIONEER will notify the highest bidder within three (3) working days if said lot/vehicle will be awarded to him.
5. The AUCTIONEER’S decision is final. He has the right to refuse any bid or withdraw any lot(s) from the sale without stating a reason thereof.
6. The particulars, descriptions, measurements and quantities in the catalogue are for the purpose of identification of the vehicle and are NOT WARRANTIES in any way as to the correctness thereof. The AUCTIONEER does not guarantee the information on the sticker of the lot/vehicle specifications and will not arbitrate based only on information.
7. All lot/vehicle is sold on an “AS IS, WHERE IS” basis and are sold with all faults. AUCTIONEER accepts no responsibility for any lot/vehicle sold upon the fall of the hammer. The winning bidder is not allowed to withdraw or cancel any bid/s after being declared as the winning bidder.
8. BUYER’S PREMIUM- There is a 5% Buyer’s Premium, in addition to the bid price applicable to all units in this sale.
9. The winning bidder shall pay a notarization fee for each vehicle; depending on the Bid Amount per Deed of Absolute Sale.
10. The winning bidder shall cause the transfer of registration of the vehicle from the Seller (or previous owner, if any) to its name. The Winning Bidder shall solely defray the expenses of such registration including but not limited to VAT/Ad Valorem, applicable import duties and taxes, cancellation of chattel mortgage, etc. The Seller shall have no obligation to the winning bidder with respect thereto except to cooperate with the winning bidder by providing the winning bidder such documents required for such registration.
11. AUCTIONEER shall record the bid of the 2nd highest bidder and automatically retain the bid deposit. In the event the winning bidder renege on or revoke his bid, his bid deposit shall be forfeited and the 2nd highest bidder will automatically be declared the highest bidder, subject to the approval of the Seller.
13. Acceptable forms of payment: cash, manager’s check or direct deposit to the AUCTIONEER’s account: BDO Accountt#4850178661 Pioneer Highlands Madison Branch. Payable to HMR Auction Services Inc.
14. All payments shall be STRICTLY made within three (3) banking days following the completion of the auction; with absolute deadline of payment on October 14, 2020. Otherwise the Bid Deposit will be forfeited. There shall be no partialpayment.
15. At the time of payment, winning bidder must submit to the AUCTIONEER all requested forms, documents and ID’s as directed including but not limited to:. For Lot Nos. 17, 20, 27, 46, 65, 75, 83). Proof of billing statement, proof of income (i.e. certificate of employment or latest ITR or 3 months latest bank statements or 3 months latest pay slips, TIN No., 2 valid gov’t issued IDs), marriage certificate and 2 valid IDs and TIN No. of spouse (if applicable). It shall be the responsibility of the winning bidder to ensure that all said requirements are authentic, complete and accurate. Failure to do so will delay the release of Official Receipt, Certificate of Registration, Deed of Absolute Sale, Secretary Certificate and other transfer documents.
16. Upon full payment and submission of the required documents, the winning bidder may pull-out his vehicle and the Seller through the AUCTIONEER shall release the following:
A. Photocopy of Official Receipts and Certificates of Registration covering the Subject Vehicles.
B. Certificate of Award
C. Within 30-60 working days – original copy of Official Receipt and Certificate of Registration (Unless consignor declares none and made known to the bidder prior the auction)
D. Within 30-60 working days – Deed of Absolute Sale and other transfer documents necessary to effect transfer of registration to winning bidder’s name.
17. No pull-out of vehicle will be allowed without the presentation of a receipt showing full payment to an authorized HMR Auction staff.
18. The winning bidder represents and warrants to the Seller that:
The winning bidder has the power to enter into and perform this Bidders Form Agreement, and has taken all necessary actions to authorize its execution and delivery and the performance of its terms and conditions;
This Bidders Form Agreement constitutes a legal, valid, and binding obligation of the winning bidder, enforceable according to its terms;
The execution, delivery, and performance by the winning bidder of this Bidders Form Agreement will not violate in any respect any provision, or result in the breach, of any Contract to which the winning bidder is a party, or any law, rule, regulation, order, writ, judgment, injunction, decree, determination, or award of any authority, agency, or court, presently in effect and binding on the winning bidder, or any other restriction of any kind or character to which the winning bidder is subject.
19. The winning bidder agrees and undertakes that it shall cause the transfer of registration of the vehicle to its name within sixty (60) working days from execution of the Deeds of Absolute Sale. The winning bidder assumes and acknowledges sole responsibility for the use of the vehicle from the time the winning bidder takes possession of the same. The winning bidder shall indemnify and render free and harmless the Seller, its successors and assigns and/or AUCTIONEER against any and all damages, losses, claims, charges, actions or complaints for injury or death, and/or damage to or loss of property, of whatsoever nature arising out of or in connection with (i) the use of the vehicles from the time it is delivered to the winning bidder; (ii) the non-registration of the vehicle or (iii) any other causes related to the vehicle from the time the winning bidder takes delivery of the same.
20. Lot Nos. 7&19 winning bidder shall shoulder all other taxes, fees and expenses to be incurred in connection with the purchase of the Subject Vehicle. For this purpose, unless notice to the contrary is given by the bidder and provided the bid deposit is not used in accordance with the bidding rules, AUCTIONEER may use the Bid Deposit to facilitate the transfer/registration of title to the bidder’s name.
21. The issuance of the Official Receipt (OR) and Certificate of Registration (CR) to the winning bidder shall be a pre-requisite for the use of the vehicle.
22. For Lot No. 15, 23, 25, 28, 32, 33, 35, 37, 38, 40, 41, 44, 45, 49, 51, 52, 56, 59, 61, 62, 63, 64, 68, 70, 72, 74, 76, 78, 79, 80, 82, 84, 85, 86. Winning bidder agrees and undertakes a face-to-face (KYC) interview with the authorized representative of the seller/consignor at the AUCTIONEER’s facility prior to pullout. Meeting schedule must be arranged with the AUCTIONEER for proper coordination with the seller/consignor.
23. PULL-OUT GUIDELINES:
a) The winning bidder must personally pull-out the vehicle. If not possible, a notarized SPA is required before the vehicle is released to his representative. Please provide the following information: Driver’s complete name, Driver’s contact details, model & plate number and type of the vehicles/trucks to be used during pull-out. The winning bidder must provide these details to AUCTIONEER AT LEAST 1 day prior to the pull out (during office hours only). No Details, No Gate Pass, No Pullout.
b) Storage fee is Php100.00 per day for vehicle that remain in the warehouse after the release of OR/CR.
d) Bidders are required to bring their own labor and or equipment such as crane or boom truck. Details must be submitted upon payment.
e) Deadline to pull-out the vehicle is October 28, 2020. STRICTLY NO EXTENSION, otherwise all payments and items will be forfeited.
f) Necessary Personal Protective Equipment (PPE) / Safety Gadgets shall be provided by the winning bidders & shall be checked & approved by the HMR Safety & Security Officer.
g) Any damage done to other equipment, properties, or structure in the vicinity caused by the removal of the vehicle shall be charged to the bidder. Cost of damage shall be computed by AUCTIONEER.
h) Proper housekeeping must be observed at all times. All the unwanted materials at the work site must be hauled out by the bidder right after work. In the event winning bidder does not practice proper housekeeping, the cost of the clean-up will be deducted from the security bond
i) Winning bidder agrees to defend, indemnify, and hold the Seller and Auctioneer harmless from all and against any and all claims, personal injuries, liabilities, demands, suits, damages fines, penalties, and any associated costs and
expenses, including but not limited to consequential damages and attorney’s fees which may asserted against or incurred by the Seller as a result of winning bidders dismantling, handling, labeling, transportation, storage, use sale or disposal of the awarded lot.
24. BIDDER’S CLEARANCE FORM - After completion of pull-out, Bid Deposits will only be refunded upon presentation of clearance form issued by the Auctioneer.
25. Winning bidder must refrain from doing any repairs or improvements on the vehicles pending receipt of all pertinent documents necessary to effect transfer of registration to his name. Accordingly, any repairs or improvements done prior to receipt of such documents shall be for the sole account of the bidder.
26. The Auctioneer may disqualify any bidder for the following reasons:
Bidder disturbs the auction proceedings or creates a commotion during the auction.
Bidder was found to have misrepresented himself.
Bidder was caught conniving with another bidder.
Bidders with outstanding balance.
27. USE AND DISCLOSURE OF PERSONAL/CORPORATE INFORMATION
You unconditionally consent to making your personal/corporate information collected in the performance of the services herein, available to the Auctioneer, its employees, affiliates or third parties. Auctioneer shall use and keep the personal/corporate information in strict confidence and in accordance with the Data Privacy Act of 2012. This consent shall be remain effective unless withdrawn in writing.
By Signing below you are acknowledging that you have read & understand the “Bidders Form Agreement” and agree to comply with all the specified Terms and Conditions.
BIDDER’S NAME: SIGNATURE: DATE: