Common use of ONLINE BIDDING PROCEDURES Clause in Contracts

ONLINE BIDDING PROCEDURES. 9.1. Any bid once entered by the registered Online Bidders or On-site Bidders shall be binding upon the registered Online Bidders and On- site Bidders and the bid shall not be withdrawn or retracted in any manner whatsoever. 9.2. In the event there is only one (1) or more than one (1) registered Online Bidders and/or On-site Bidders and no bid is entered by the said registered Online Bidders and/or On-site Bidders, the public auction in respect of that particular property shall be aborted. 9.3. Online Bidding shall generally commence based on the sequence of the lot of the property being shown on the bidding page in the xxx.xxxx0xxx.xxx. However, the Auctioneer has the right to vary the sequence of the lot of the property without having to give prior notice to registered Online Bidders. 9.4. It shall be the responsibility of all registered Online Bidders to log in through the xxx.xxxx0xxx.xxx’s auction event page at least 15 (fifteen) minutes before the auction time on the date of auction and click “Bid Live” button upon auction commencement and wait for their turn to bid online for the property lot in which they have registered. 9.5. The public auction shall commence after the message stating “You can bid now” is displayed (subject to the Online Bidders’ registered property.

ONLINE BIDDING PROCEDURES. 9.1. Any bid once entered by the registered Online Bidders or On-site Bidders shall be binding upon the registered Online Bidders and On- site Bidders and the bid shall not be withdrawn or retracted in any manner whatsoever. 9.2. In the event there is only one (1) or more than one (1) registered Online Bidders and/or On-site Bidders and no bid is entered by the said registered Online Bidders and/or On-site Bidders, the public auction in respect of that particular property shall be aborted. 9.3. Online Bidding shall generally commence based on the sequence of the lot of the property being shown on the bidding page in the xxx.xxxx0xxx.xxxtheNCM Website. However, the Auctioneer has the right to vary the sequence of the lot of the property without having to give prior notice to registered Online Bidders. 9.4. It shall be the responsibility of all registered Online Bidders to log in through the xxx.xxxx0xxx.xxx’s auction event page NCM website at least 15 (fifteen) minutes before the auction time on the date of auction and click “Bid Live” button upon auction commencement and to wait for their turn to bid online for the property lot in which they have registered. 9.5. The public auction shall commence after the countdown of 3,2,1 and when a flash message stating “You can Auction Started. Enter your bid now” is displayed (subject to the Online Bidders’ registered propertydisplayed.