Common use of BIDDING DEPOSIT Clause in Contracts

BIDDING DEPOSIT. Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Berhad for the a/c of (Mega Strands Sdn Bhd), a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. For online bidders please refer to the terms and conditions at xxx.xxxxxxxxxxxxxxx.xxx for the manner of payment of the deposit. 3.1 Any agent acting on behalf of another person, body corporate or firm is required to deposit with the Auctioneer, prior to the auction sale, a letter of authority from such person, body corporate or firm stating that he is acting on behalf of the person, body corporate or firm, as the case may be.

BIDDING DEPOSIT. Subject to Clause 5.1 below, all intending bidders shall deposit with the Auctioneer, prior to the auction sale, a bank draft or cashier’s order drawn in favour of AmBank (M) Islamic Berhad for the a/c account of (Mega Strands Sdn BhdXxxxxx Xxxxxx Xxx Xxx Xxxx), a Bidding Deposit equivalent to ten per cent (10%) of the Reserve Price or a minimum of RM2,000.00 whichever is higher. For online bidders please refer to the terms and conditions at xxx.xxxxxxxxxxxxxxx.xxx for the manner of payment of the deposit. 3.1 Any agent acting on behalf of another person, body corporate or firm is required to deposit with the Auctioneer, prior to the auction sale, a letter of authority from such person, body corporate or firm stating that he is acting on behalf of the person, body corporate or firm, as the case may be.