BIDDERS FORM AGREEMENT
Truck & Machinery Auction: March 24, 2023
Etasi Whse Brgy. Duquit Dau, Mabalacat, Pampanga
1. You must be a registered bidder to participate in this auction. A “bid number” can be obtained at the registration desk upon payment of a Cash Bond of Seventy Thousand Pesos (Php 70,000.00). The Cash Bond for Trucks and Trailers shall automatically put on hold as security bond in the event the bidder wins at the auction. The bid deposit will only be released upon the presentation of the OR CR indicating the bidder’s name as the new owner of the vehicle. The cash bond shall answer for any damage or injury caused by the participating bidder to the person or property of the Seller.
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 a 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.
The Auctioneer may at its sole discretion require an additional amount to be provided by any bidder for continued participation in the auction.
2. Bidder must present a valid ID at the auction venue for purposes of identification. Any of the following must be presented:
Driver’s license; SSS ID; GSIS ID; Company ID; Valid Passport; or any government-issued I.D.
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 lot and are NOT WARRANTIES in any way as to the correctness thereof. It is solely the bidder’s responsibility to confirm the accuracy, completeness and reliability of any such information, data or other materials.
7. The auctioneer does not guarantee the information on the sticker of the items specifications and will not arbitrate based only on information.
8. All lot/vehicle is sold on an “AS IS, WHERE IS” basis, with no warranties expressed or implied. Bidders may inspect the vehicle prior to bidding. It is the sole responsibility of the Bidder to ascertain, confirm or verify any and all vehicle information including but not limited to car plate status, non-contact violations or apprehensions associated prior to the auction of the vehicle.
9. There is a non-negotiable 5% to 7% Buyers Premium in addition to the bid price applicable to all lots in this sale.
10. The winning bidders of the Trucks and Trailers shall pay a notarization fee for each vehicle; depending on the Bid Amount per Deed of Absolute Sale.
11. The winning bidder shall cost 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 a 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.
12. The OWNER/AUCTIONEER shall not be held liable for the availability or non-availability of the car plate for any reason. Winning bidder is advised to inquire directly from LTO prior to bidding.
13. Payments are strictly in the form of cash, manager’s check or direct deposit to the Auctioneer’s account:
Bank: Banco De Oro
Acct. Name: HMR AUCTION SERVICES, INC. II
Acct. No. 48-50-19-91-38
14. All won lots shall be paid STRICTLY within three (3) banking days, following the completion of the auction, with absolute deadline of payment on March 29, 2023 ( Except Sunday), otherwise Cash Bond will be forfeited. There shall be no partial payment for won lots.
15. No pull-out of vehicle will be allowed without the presentation of a receipt showing full payment to an authorized HMR Auction staff.
16. The Winning Bidder represents and warrants to the Seller that:
a. 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;
b. This Bidders Form Agreement constitutes a legal, valid, and binding obligation of the Winning Bidder, enforceable according to its terms;
c. 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.
17. Upon payment and satisfactory completion of required forms and submission of materials and pullout of Subject Vehicle, the Seller shall release to The Winning Bidder the following:
FOR UNUSED TRUCKS
a. Sales Invoice (to be provided upon release of the unit)
FOR USED TRUCKS
a. Photocopy of Official Receipts and Certificates of Registration covering the Subject Vehicles.
b. Certificate of Award
c. Seller’s Filed Dropping Application of LTFRB (if applicable)
FOR USED TRUCKS
Within 30 to 60 working days after the Subject Vehicle is released to the Winning Bidder, the Seller shall release the following:
a. Original copy of Official Receipts and Certificates of Registration covering the Subject Vehicles (unless consignor declares none and made known to the bidder prior the auction)
b. Signed Deeds of Absolute Sale covering each Subject Vehicle;
c. Other transfer documents necessary to effect transfer of registration to winning bidder’s name.
d. Secretary Certificate (if applicable)
Bidder shall submit all required documents to HMR Auction Services, Inc. Failure to do so would cause a delay in the release of Official Receipt, Certificate of Registration, Deed of Sale, Secretary Certificate and other transfer documents.
18. The Winning Bidder agrees and undertakes that it shall cause the transfer of registration of the Subject Vehicles to its name within sixty (60) days from execution of the Deeds of Absolute Sale. The Winning Bidder assumes and acknowledges sole responsibility for the use of the Subject Vehicles from the time the Winning Bidder takes delivery of the same. The Winning Bidder shall indemnify and render free and harmless the Seller, its successors and assigns 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 and howsoever arising which the Seller and/or any third party may suffer, and/or for expenses or costs in relation thereto which the Seller and/or any third party may incur arising out of or in connection with
(i) the use of the Subject Vehicles from the time it is delivered to the Winning Bidder; (ii) the non-registration by the Winning Bidder of the transfer of the Subject Vehicles, or (iii) any other causes related to the Subject Vehicles from the time the Winning Bidder takes delivery of the same
19. The winning bidder must register all purchased vehicles sixty (60) working days within receipt of the Deed of Sale and other pertinent documents from the Seller. Processing of Renewal and Transfer of Registration shall be the responsibility of, and for the sole account of the Winning Bidder.
20. Pull out of Won's vehicle is until April 01, 2023 (Except Sunday) from 8:00AM-5:00PM only. STRICTLY NO EXTENSION.
21. Paid vehicles not removed within the pull-out deadline will be forfeited.
22. 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 Php500.00 per day for vehicle that remain in the HMR facility after April 01, 2023
c. Bidders are required to bring their own labor and or equipment such as crane or boom truck. Details must be submitted upon payment.
d. Deadline to pull-out the vehicle is April 01, 2023. STRICTLY NO EXTENSION, otherwise all payments and items will be forfeited.
e. Necessary Personal Protective Equipment (PPE) / Safety Gadgets shall be provided by the winning bidders
& shall be checked & approved by the HMR Safety & Security Officer.
f. 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.
g. 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
h. 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.
23. BIDDER’S CLEARANCE FORM. After completion of pull-out/transfer of ownership, bid deposits will only be refunded upon presentation of clearance form issued by HMR.
24. The Auctioneer may disqualify any bidder for the following reasons:
a. Bidder disturbs the auction proceedings or creates a commotion during the auction.
b. Bidder was found to have misrepresented himself.
c. Bidder was caught conniving with another bidder.
d. Bidders with outstanding balance.
25. 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.
IMPORTANT NOTICE:
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.