THE ONLINE BIDDING Sample Clauses

THE ONLINE BIDDING. 6.1 Each new bid shall not less than immediately preceding bid. 6.2 All increments in the bids shall not be less than the incremental amount as fixed by the Auctioneer at the auction sale. 6.3 The Auctioneer shall have the right to refuse any bid. 6.4 Each bid will be called for 3 times, “First Calling”, “Second Calling”, “Final Call”. Bidder may submit their bid at any of these stages of biddings. (Please change this clause to suit your online system procedure. If there is no change please maintained this clause) 6.5 When system displays “No More Bid. No further bids will be accepted by the Auctioneers 6.6 The bidder with the highest bid shall be declared as Successful Bidder upon the fall of hammer. 6.7 A bid once made shall not be withdrawn. 6.8 If any dispute should arise as to any bidding, the property shall at the option of the Auctioneer be put up again for sale at the last undisputed price and the Auctioneer shall at the auction sale decide on the dispute and such decision by the Auctioneer shall be final. 6.9 Subject to the Reserve Price the highest bidder for the property at the auction sale shall be declared by the Auctioneer to be the successful Purchaser (“The Purchaser”).
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THE ONLINE BIDDING. 6.1 Each new bid shall not less than immediately preceding bid. 6.2 All increments in the bids shall not be less than the incremental amount as fixed by the Auctioneer at the auction sale. 6.3 The Auctioneer shall have the right to refuse any bid. 6.4 Bidding shall generally commence based on the sequence of the lot being shown on the PAH Website. However the Auctioneer has the right to vary the sequence without having to give prior notice to the intended bidders. 6.5 It shall be the responsibilities of the E-bidders to login through PAH website to wait for the turn to bid for the property lot in which they intend to bid. 6.6 The Auctioneer has the discretion to set a new reserve price in the event that there is more than one (1) registered bidder. 6.7 The amount of incremental bid will appear on the website prior to the commencement of the auction. 6.8 Registered online Bidders shall start bidding online by pressing the BID Button using their own gadgets with internet connection. If your bid is the highest, it will be denoted by a Green Coloured Box otherwise it will be a Red Coloured Box The highest bid shall flash 10 seconds (subject to change) interval for four (4) times " Calling Once, Calling Twice, Last Call and Sold". E-bidders may submit their bid at any of these stages of biddings by pressing the BID button. The successful bidder's bid will be denoted by a green coloured screen. The highest bidder shall be declared as the successful purchaser upon the fall of the hammer. 6.9 In the event that there is no bid after forty (40) seconds from the time of commencement of the auction, the auction shall be aborted. 6.10 A bid once made shall not be withdrawn. 6.11 If any dispute should arise as to any bidding, the property shall at the option of the Auctioneer be put up again for sale at the last undisputed price and the Auctioneer shall at the auction sale decide on the dispute and such decision by the Auctioneer shall be final. 6.12 Subject to the Reserve Price the highest bidder for the property at the auction sale shall be declared by the Auctioneer to be the successful Purchaser (“The Purchaser”).
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Related to THE ONLINE BIDDING

  • Competitive Bidding 3.5.2.1 Bidding Documents shall consist of bidding requirements and proposed Contract Documents.

  • For E-bidding The auctioneer and the Bank’s solicitor shall sign all 5 copies of contract first, right after the auction. The successful E-bidder must to come to the ESZAM AUCTIONEER SDN BHD main office in Seremban to sign the Contract of Sale within two (2) working days after the auction date.

  • Non-Collusive Bidding Certificate This is a requirement of the TIPS Contract and is non-negotiable. By submission of this proposal, the Vendor certifies that: 1) This proposal has been independently arrived at without collusion with any other entity, bidder, or with any competitor; 2) This proposal has not been knowingly disclosed and will not be knowingly disclosed, prior to the opening of bids, or proposals for this project, to any other bidder, competitor or potential competitor: 3) No attempt has been or will be made to induce any other person, partnership or corporation to modify, submit, or not to submit a bid or proposal; and 4) The person signing this bid or proposal certifies that they are duly authorized to execute this proposal/contract on behalf of Vendor and they have fully informed themselves regarding the accuracy of the statements contained in this certification, and under the penalties being applicable to the bidder as well as to the person signing in its behalf;

  • POST ONLINE PUBLIC AUCTION PROCEDURES 4.1. Successful E-bidders shall and undertake to sign the Memorandum of Sale at the office of the Auctioneer within 3 working days from the date of auction, failing which the deposit paid will be forfeited to the Assignee bank and the sale will be deemed cancelled/terminated and the property may be put up again for subsequent auction without further notice to the said E-Bidders. The Auctioneer shall send the Memorandum of Sale for stamping and thereafter forward the same together with the required deposit paid under Clause 2.4 above and the differential sum paid under this clause (if any) to the Assignee bank. 4.2. Any successful E-bidder who is unable to attend to sign the Memorandum of Sale at the Auctioneer's office may do so by authorising another person to sign the same of his/her behalf by inserting the particulars of the authorised person and furnishing a copy of his/her identity card and also a Letter of Authorisation for this purpose. 4.3. In the event that there is inconsistency between the personal details and the documents uploaded in the PAH Website and the actual documents produced by the successful bidder, the Auctioneer shall have the right to refuse the successful bidder from signing the Memorandum of Sale and may at its discretion cancel the sale and proceed to put up property up for a new auction and the deposit paid shall be forfeited. 4.4. The Memorandum of Sale upon being signed by the Auctioneer, Solicitor for the Assignee bank and the successful Bidder/Authorised agent shall be conclusive evidence of the sale of the property to the successful bidder.

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