Withdrawal of Bid. a. No bid shall be retracted or withdrawn. b. In the event any bidder makes a bid but withdraws the same before the fall of the hammer:- (i) The said bidder shall have his/her/its deposit equal to 10% of the reserve price forfeited forthwith to the Assignee; (ii) The said bidder shall not be entitled to nor have any or further reimbursements, claims and demands whatsoever in nature and howsoever caused against the Assignee, the Assignee’s Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof; (iii) The Property shall at the option of the Assignee be put up for sale again at a time, place and reserve price to be fixed by the Assignee at its sole discretion or the Assignee may decide to adjourn the auction sale to another date.
Appears in 55 contracts
Samples: Proclamation of Sale, Facilities Agreement, Facility Agreement
