During the Auction Clause Samples

The "During the Auction" clause outlines the rules and procedures that govern the conduct of all parties while an auction is in progress. It typically specifies acceptable behaviors, bidding protocols, and any restrictions on communication or actions during the auction period. For example, it may require bidders to follow a set order, prohibit collusion, or mandate that all bids be made publicly. The core function of this clause is to ensure a fair, transparent, and orderly auction process by setting clear expectations and preventing disputes or unfair practices.
During the Auction the Investors may provide the Offers by setting the amount of the loan offered, however, they may not offer Interest rates that are lower and/or higher than those set by the Borrower. The principal of the loan offered by the Investor shall not be lower than EUR 100, while the total amount shall be expressed in euros (without cents) in terms of accuracy. The principal of the Loan Amount offered by the Investor shall not exceed the Loan Amount established by the Borrower in a specific Auction.
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During the Auction. Once listed, your equipment will run on a weekly only auction, or other designated remarketing channel • Infrequently prospective buyers may want to preview the equipment for auction on-site before the end of the auction. With a goal of maximizing your equipment sales values and keeping logistics costs and hassles low for you, bidadoo will handle the equipment preview process the following way: o Bidders / buyers will contact bidadoo with all preview requests o bidadoo will perform preliminary screening and qualification of prospective bidders and buyers o You set the level of inspection allowed at your facility for safety, time, and marketing factors o bidadoo will coordinate a date and time with your facility and the prospective buyer
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Related to During the Auction

  • Prior To The Auction Sale a. The Assignee reserves the absolute right at any time to vary, alter, amend or add to the particulars and/or these Conditions of Sale. b. The bidders shall register as E-Bidders (as defined in the Auctioneer’s Online Terms and Conditions) and comply with all the requirements as provided in the Auctioneer’s Online Terms and Conditions. c. All intending bidders shall be required to scan and upload the following document(s) to the Auctioneer’s Website in order to verify their identities during the registration stage as the “E-Bidders”,: (i) For individual bidders, a color copy of their identity cards (front and back); or (ii) For non-individual bidders, certified copies of the Form 24; Form 44; Form 49 (or its equivalent forms under the Companies Act 2016); Memorandum and Articles of Association/Constitution of the bidders in compliance with Companies Act 2016 and a duly signed Board of Directors’ Resolution) failing which they shall not be entitled to bid. d. Any person intending to bid on behalf of another individual, company, society, firm or body corporate shall upload / fax / e-mail the following documents to the Auctioneer’s Website / Auctioneer prior to the auction, the following documents: (i) an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s full name, identity and address and stating that he/she is acting on behalf of the said individual, company, society, firm or body corporate and is authorised to sign all the necessary documents (“Letter of Authority”); and (ii) for individual, a colour copy of the principal’s NRIC (front and back); or (iii) for non-individual, certified copies of the Form 24; Form 44; Form 49 (or its equivalent forms under the Companies Act 2016); Memorandum and Articles of Association/Constitution of the company in compliance with Companies Act 2016 and a duly signed Board of Directors’ Resolution) of the principal failing which the bidder shall be deemed to contract in his own name and not as an agent for another. e. All intending bidders (with the exception of the Assignee) shall deposit with the Auctioneer a sum equivalent to 10% of the fixed reserve price for the Property by way of bank draft or cashier’s order crossed “A/C PAYEE ONLY” made payable to HONG ▇▇▇▇▇ BANK BERHAD/RATU ERAT HOLDINGS SDN BHD or remit the same through online banking transfer to the bank account designated by the Auctioneer, ONE (1)