Common use of ON THE AUCTION DAY Clause in Contracts

ON THE AUCTION DAY. 5.1 E-bidders are responsible for ensuring that internet access and connectivity is running smoothly throughout the whole bidding process. The Bank and Auctioneer will not be held responsible or liable for any interruptions, delays, failures, errors, omissions or loss of information etc. 5.2 During the auction day, the E-bidder need to click on link given and enter the Bidding Code before the auction start. 5.3 The amount of incremental bid will appear on the website prior to the commencement of the auction. The Auctioneer has the right to set a new reserve price in the event there is more than 1 bidder.