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 .: HOW TO BUY&SELL
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AUCTION RULES AND REGULATIONS

         A. Rules and Regulations             

The Auctioneer shall designate the following:

          1. Procedure for bidding
          2. Time for bidding (each time and each item)
          3. Machines for bidding at each time

         B. Registration Procedure

              1.  The bidder MUST submit the following upon registration:

                 1.1 For Thai Citizens, a certified copy of personal identification card and house registration
                1.2 For non-resident of Thailand, a certified copy of passport.
                1.3 For juristic person, a company affidavit that is issued by The Ministry of    Commerce and endorsed with the said company's stamp and undersigned by an authorized person from the said company. The document is only deemed valid if the issuing date falls within 3 calendar months from the date of presentation to the Auctioneer.

 
:: NOTE ::
The Auctioneers will charge the buyer's commission fee from the Bidders as follow ::
From Bht.
                   1 - 30,000      at  10 %
           30,001 - 50,000     at    8 %
           50,001 - 100,000   at    5 %
    PRICE OVER BHT. 100,000 NO
    BUYER'S COMMISSION
 
 
     
 
 
 

            2. Bidder must deposit the amount of Baht 200,000 or USD 5,000 either by cash or Bank draft paid to the order of “Bangkok Auctioneers Co., Ltd.”or T/T remittance to
                    Kasikorn Bank, Bangna-Trad Rd. KM.18 Branch, Saving Account 450-2-67009-9
                    Bangkok Bank, Laksi Branch, Saving Account No.189-4-21985-4
                    Siam Commercial Bank, Wat Si Wari Noi Road Sub Branch, Saving Account No. 296-2-32287-5
                    Bank of Ayudhya, Huachiew Chalermprakiet University Branch, Current Account No. 596-0-00118-2
                    Krungthai Bank, Saphanmai Branch, Saving Account No. 065-0-40750-4

            3.  Auctioneer shall issue the bidding card bearing the registered bidder's bidding number which   entitles the bidder the right to bid on auction day after completing registration formalities stated in item number 1 and number 2.

            All unsuccessful bidders are given a full refund on their collateral deposit, without subtracting registration fee immediately or not later than 3 working days after the auction event.All unsuccessful bidders are given a full refund on their collateral deposit, without subtracting registration fee immediately or not later than 3 working days after the auction event.

            Successful bidders will have their collateral deposit held by the Auctioneer and use this sum in part payment towards settlement of the outstanding amount.In the event that successful bidder fails to pay the outstanding amount, the Auctioneer has the right to forfeit the deposit amount. But if there are any other expenses incurred,successful bidders will have to be responsible for these expenses as well.

            In the event that successful bidder fails to pay the outstanding amount, the Auctioneer has the right to forfeit the deposit amount. But if there are any other expenses incurred,successful bidders will have to be responsible for these expenses as well.

            Upon misplacement or loss of bidding card, the registered bidder will have to notify the Auctioneer immediately to minimize possible losses and will have to bear any expenses that might occur.

            4. After registration, the bidders can inspect all the machines at the auction site from 17 - 19 Octorber, 2013  from 9.00 a.m.-5.00 p.m.daily. All the machines are sold on “As is where is ” Basis and VAT excluded.

        C. Procedure for bidding

            1.The bidding price will be done by raising up the bidding card. The bidder who gives the highest bid price will be the winner. This process is continuous until no one accepts the higher price. In case of any dispute or argument between the bidders, the decision of the Auctioneer will be considered as the final one.

            2.Successful bidders must pay by cash the equivalent of 25% of the total amount of their bid within 3 days after the auction date . For the remaining 75% of the total bid amount outstanding must be paid to the Auctioneer within 8 days after the auction date

            3.Successful bidders have no right to cancel any of the bidded equipment in any cases and in the event the successful bidders fail to pay the due amount within the prescribed time or fails to comply with any terms, the Auctioneers shall retain possession on all purchases of the successful bidders. At the Auctioneer’s sole discretion, Auctioneer shall have the right to re-sell such Purchases by public or private sale without notice to the successful bidders. If the sale proceeds do not cover the original successful bid price, the successful bidders will be responsible for the differences.

            4.In the event the successful bidder fails to pay the total due amount within the prescribed time, the Auctioneers has the right to forfeit the full amount already paid, but the said amount do not cover the loss that incurred, the Auctioneers has the full right to sue or claim for the difference.

            5.In the event, the Auctioneers is considered to be the representative on selling the equipment, but the Auctioneers will not be responsible for any loss caused by negligence. As the Auctioneers is public to inspect the auctioned machines for a certain period of time. Thus, if the bidder has already been a successful in bidding has no right to refuse or ignore for the bidding price.

            6.Any documents included in the bid card or distributed after the registration (both by Auctioneers) or put on the Notice Board in the Auction place will be considered part of the contract.

            7.The Auctioneers shall retain possession on all purchases, unless the successful bidder has paid the full bidding amount.

        D. Equipment Delivery Procedure

            1. The Auctioneer will hand the equipment and all other necessary supporting documents to the successful bidder when the full payment is made.

            2. The successful bidder MUST accept and remove the equipment from the auction site within 8 days If the equipment is not removed within the certain period, the successful bidder must pay the storage charge of 500 Thai Baht per item. But in case, the successful bidders neglect to remove the equipment within 60 days from the auction site. The successful bidders allows the Auctioneers to have the right to re-sell such Purchases by public or private sale. That certain amount will be paid for all the liabilities, claims, losses, damages or expenses. If the sale proceeds do not cover all the expenses incurred, the successful bidders will be responsible for the differences.

            3. All transportation cost for removal from the auction site will be the responsibility of successful bidders.

            4. Instances where the successful bidder authorizes any other party besides himself to remove the equipment from the site, the authorized party must produce an authorization letter issued by the successful bidder or successful bidder's company, endorsed with the company's stamp and undersigned by an authorized person. (see the attached copy in the bidding card )

            5. In case the Auctioneer could not deliver the equipment to the successful bidders, the Auctioneer shall be responsible only to return the deposit or the amount received for that certain equipment to the successful bidders. (without any interest) .


For Further Information
Please Contact Tel. (662) 312-6959-60
                                   (662) 740-7990-2

AS WE ARE THE PROFESSIONAL AUCTION ORGANIZER

 
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