TERMS & CONDITIONS
Auction Terms & Conditions
1 Introduction:
MASSAR SOLUTIONS P.J.S.C, “SELLER” has the
intention of selling Surplus Assets of its Light, Heavy Vehicles &
Equipment’s on " As Is, Where Is, and with All Faults &
Defects " basis through an online auction, as per the bid
conditions described hereunder in this Bid Document which constitutes of the
Bid Terms and Conditions.
The bid conditions have three main sections:
Important Notice
A prudent buyer will, before bidding for a lot
at an auction:
Ø take professional advice from a technical specialist and/or a
solicitor and, in appropriate cases, a chartered surveyor;
Ø read and understand the Bid Conditions;
Ø check thoroughly and inspect the lot(s);
Ø carry out usual searches and make usual enquiries about its
value; and
Ø Have finance available for the deposit and purchase price.
The Bid Conditions assume that the Bidder has acted like a
prudent buyer. If you choose to bid without taking these normal precautions,
you do so at your own risk.
2 Value Added Tax (VAT):
In line with the requirements of the Federal Decree Law No. 08
of 2017 and its Executive Regulations, which are regulating the Value Added Tax
(VAT) and its application in the United Arab Emirates, and in
order for Massar Solutions PJSC to comply with
such requirements, please note and consider the below:
a) As you are already aware of, VAT is a consumption tax that
the end user is obligated to pay, and Our Company will accordingly be acting as
a collection Agent on behalf of the United Arab Emirates Government.
b) Accordingly, from 1st January 2018, all used vehicles purchase
shall have VAT included in the unit bid price in compliance with the provisions
of the law and its Executive Regulations.
Furthermore, all Our Company’s customers who are entitled to
recover their input VAT, must officially submit their VAT registration details
including Tax Registration Number (TRN) with supporting evidence to Our
Company, in order to be provided with a full VAT
Invoice.
This communication is considered as a legal notification from
Our Company to Our Company’s customers and represents a change to our Terms
& Conditions existing in our previously signed agreement(s). Your continued
dealing with Our Company will be taken as your acceptance of the
above-mentioned addendum and changes as set out in this notification, to our
existing agreements and dealings with you. Except as varied herein in this
notification, our existing agreements and business relationship shall continue
in full force and effect in all respects.
3 Glossary:
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Business day |
A day which
is not (a) a public holiday or (b) a Friday or |
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Saturday |
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The person
who is above the age of 18 years and qualified |
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Bidder / YOU |
under UAE law
in participating in this Bid Process and |
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agrees to buy
a/some/portion of LOT(S) |
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A motor
vehicle (which shall include without limitation to |
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LOT |
cars, busses,
trucks, mini-vans, pickups, forklifts, commercial |
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vehicles)
that i |
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Successful
Bid: |
Is the
highest bid submitted for a LOT |
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Successful |
A Bidder who have submitted a successful bid(s) |
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Bidder: |
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Letter of
Award: |
The Letter of
Award expresses the SELLER agreement to sell |
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to a
successful BIDDER his awarded LOT(S). |
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The Award
date is the date on which the SELLER informs a |
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Award date: |
successful
BIDDER by telephone, mail, fax or electronic mail |
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about his
Letter of Award. |
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Bid: |
The price
that the BIDDER agrees to pay for a LOT |
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Payment date: |
The date when
a successful Bidder pay the Total Awarded |
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Bid. |
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Collection
date: |
The date when
the bidder collects all his awarded LOT(S). |
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Seller: |
MASSAR
SOLUTIONS P.J.S.C, being the seller of the LOT(S) |
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Total Bid: |
The
Arithmetic total of all the bid(s) submitted by a Bidder. |
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The Arithmetic
total of all Awarded bid(s). |
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Bid: |
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Online
Bidding Website |
The medium
via which the SELLER wishes to display and market their goods and the medium
by which the company will receive their bids from BIDDERS |
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4 Bidding Process:
4.1 General
❖ Throughout this terms & conditions document, wherever it
makes sense,
• the terms bid, Bid, you, You, and their derivatives
(bidder/BIDDER, you/YOU … etc.) are synonymous;
• singular words can be read as plurals, and plurals as singular
words
• a ‘bidder’ may include a corporate body
• Words of one gender include the other genders.
4.2 TERMS & CONDITIONS EXAMINATION & EXPLANATION TO
BIDDER(S)
❖ BIDDER shall be fully responsible for examining, with
appropriate care, the complete Terms & Conditions as well as all asset
details represented on the Online Bidding Website and shall be responsible for
informing himself with respect to all conditions which might in any way affect
his Bid. Failure to do so shall be at the sole risk of the BIDDER and no relief
can be given for error or omission by the BIDDER.
❖ Should the BIDDER find discrepancies or omissions from the
Terms & Conditions or Online Auction listing , or
should their intent or meaning appear unclear, incomplete or ambiguous, or
should any other question arise relative to the Terms & Conditions the
BIDDER shall notify the SELLER of such findings. Replies to such notifications
– if deemed necessary, shall be made in the form of addenda to the Terms & Conditions , if such case occurs.
4.3 LOT(S) CONDITION & SITE VISIT
❖ All LOT(S) are sold on the basis of "As Is, Where Is, And
with All Faults & Defects"; so in addition to
the examination of the Terms & Conditions and Online Listing Report, BIDDER
shall make whatever necessary arrangements to become fully informed regarding
the existing and expected condition of the LOT(S) and whatever matters which
might in any way affect his bid. The picture of the vehicles annexed herewith
is only for illustration purpose and shall not reflect the actual conditions of
the vehicle.
❖ Bidder is advised to visit the Site(s) and examine the LOT(S)
and its condition and obtain for himself on his own responsibility all
information that may be necessary for preparing a bid and entering
into a purchasing commitment. Failure to do so shall not relieve the
BIDDER(S) from his responsibilities of acting like a prudent buyer.
❖ Site visit schedule is clearly stated in the BID/Auction
advertisement(s) appearing in the local newspaper which is considered an
integral part of this BID Document. No site visits are allowed following the
Bid Submission Date.
❖ The bidder and any of his
personnel or agents will be granted permission to visit the Site(s) and examine
the LOT(S) upon presenting their original Bid Document, but only upon the
express condition that the bidder, his personnel, and agents, will release and
indemnify the SELLER and its personnel from and against all liability in
respect to any death or personal injury, loss of or damage to any LOT, and any
other loss, damage, costs, and expenses that might be incurred by the SELLER as
a result of such examination.
❖ The bidder or his agents shall not carry out any repair works
in the yard or around the company premises or cause any damage to any company
property. In the event of any loss sustained the bidder hereby agrees to
indemnify MASSAR SOLUTIONS P.J.S.C for all losses sustained.
4.4 PLACINGOF BIDS
❖ BIDS will be placed by the BIDDER in incremental amounts via
the Online Bidding Website and no alternative form of bid will be accepted or
considered valid for any reason whatsoever.
❖ Where the auction is subject to a Reserve Price, the Seller
reserves the right to reject any bid below the minimum Reserve Price.
❖ By placing a bid the BIDDER warrants that they have the ability
and the intention to proceed with the purchase of the Goods. All bids placed by
the BIDDER constitute an irrevocable offer by the BIDDER to the SELLER and may
not be withdrawn by the BIDDER, unless otherwise agreed in writing by the
SELLER or the BIDDER.
❖ In the event of equal and/or similar competing bids being
received during an auction the Company may, in their sole and absolute
discretion, elect to accept one competitive bid over the other, elect to reject
both the bids or withdraw the Goods for auction on the
Website.
❖ Each and every auction opens
when the Goods are uploaded onto the Website and will close daily. The Company endeavours to use its best efforts to notify a bidding
subscriber, per short message service or electronic mail, if any higher bids
are placed on the Website immediately before the close time.
❖ Save for the situation provided for in clause below, notice of
acceptance of a successful bid will be forwarded, by electronic mail, to the
Buyer notifying him of his successful purchase of the Goods. The receipt of such
notice by the Buyer shall bind him to purchase the Goods from the Seller at the
amount bid by the Buyer on the Website.
❖ Receipt of the electronic mail
notice referred to in clause 4.4 above sent as a result of, among other things,
a Website error or a defect in the Website or server
will not be binding on the Company and/or the Seller and the Company reserves
the right to retract the notice in such circumstances. The BIDDER shall have no
recourse against the Seller in such circumstances whatsoever.
❖ In the event that a sales transaction is cancelled or reversed
due to, but not limited to, the vehicle not being as describe on the auction,
either party to the transaction, Buyer or Seller,
shall attempt to resolve the matter between themselves.
4.5 CAUTION AND DISCLAIMER
❖ The BIDDER shall make his own interpretation of all information
included in the Terms & Conditions. Neither SELLER nor its designated
representative shall be responsible for the accuracy or completeness of such
information provided or its interpretation. Any failure or neglect to carry out
these verifications and investigations shall not absolve the BIDDER from any of
his obligations under the requirements of this Bid Conditions.
4.6 CURRENCY OF THE BID
❖ The currency of the Bid shall be in United Arab Emirates
Dirham’s.
4.7 VALIDITY OF BID
❖ The BID shall remain valid for sixty (60) days from the date
that the bid was submitted via website
4.8 SECURITY DEPOSIT
❖ The BIDDER shall provide AED 3 000 as a security deposit
payment to the SELLER by means of: (a) Bank Certified Cheque (Manager Cheque)
or (b) Unconditional Bank Letter of Guarantee (Bid Bond) which shall be drawn
in favour of MASSAR SOLUTIONS P.J.S.C and made
payable in Abu Dhabi
❖ Only upon receipt of the full deposit payment, will the BIDDERS
access to the website be granted
❖ The security deposit amount will be held by the SELLER per
auction for which the bidder may choose to participate in.
❖ The security deposit will be refunded to the BIDDER by the
SELLER after each auction except in the event of below:
Termination of a successful bid for any reason whatsoever
Non payment of SUCCESSFUL
BIDS within the prescribed period
Complete the execution of the entire bid process including
collection of the asset
❖ In the event where the SUCESSFUL BIDDER chooses not to honour a purchase, the SELLER will retain the entire
deposit amount at the SELLERS sole discretion.
❖ The SELLER may, at its discretion, revoke the BIDDERS access to
buy on auction. Should the BIDDER, wish to gain access to participate in the
SELLERS auctions again, the SELLER can, at its discretion allow participation
once the payment of another deposit payment is received.
❖ SELLER shall as promptly as possible
return to BIDDER(S) their Security Deposit within seven (7) calendar days.
4.9 DECLARATION
❖ Participating in this bid process by Accepting these Terms
& Conditions when logging onto the website or placing bids and expressing
interest in a site visit to evaluate the LOT(S), the BIDDER:
• Will release and indemnify the SELLER and its personnel from
and against all liability in respect to any death or personal injury, loss of
or damage to any LOT, and any other loss, damage, costs, and expenses incurred as a result of the evaluation process.
• Understand that the SELLER is not bound to accept any BID
which might be received.
❖ By submitting a bid, the BIDDER:
• understand that, according to the Terms & Conditions, bids
must be supported and accompanied by a proper Security Deposit and other valid
supporting documents as mentioned in this document
• accept that he may be disqualified from bidding, if he is in
breach of any obligation under this Bid Conditions, because he / she:
i. withdrawn his Bid during the period of bid validity;
or
ii. Having been notified of the acceptance of his Bid by the
SELLER during the period of bid validity, fail or refuse to complete the
execution of the bid process and settling the full payment of the Total Awarded
Bid
• Carefully examined the online auction report and the LOT(S)
and offer to purchase a/some LOT(S) in strict conformity with this Terms &
Conditions within each LOT bid price as stated on the online auction report
displayed on the website.
• Undertake, if his BID shall be accepted in part or as a whole,
to complete the purchase process within the time frames stipulated on the
website listing; and to pay the full amount of the Awarded LOT(S) within the
period stipulated as 48 hours abide by the submitted BID for whole bid validity
period as stipulated in Clause 2.2.7 “VALIDITY OF BID” from
the Bid Submission date; and agree that Unless and until a formal Letter of
Award is executed, that the submission of his bid, constitutes a binding
contract between both parties.
4.10 LIABILITY OF BIDDER
❖ All LOT(S) are sold subject to all faults, imperfections
and errors of description. The BIDDER should satisfy himself prior to sale as
to the condition of each lot and rely on his judgment as to whether the lot
accords with its description or information provided in the Terms &
Conditions Document and its online auction report.
4.11 LIABILITY OF SELLER
❖ Each and every LOT will be clearly marked with its
identification Lot number, information and copy of its latest Traffic
Department Registration License Copy. SELLER will permit examination of the LOT
whenever possible on site and without activation or movement of the LOT.
4.12 SELLER’S RIGHTS:
❖ MASSAR SOLUTIONS P.J.S.C reserves the right to:
(a) accept or reject any bid, without thereby incurring any
liability to Bidders;
(b) Withdraw any or all LOT(S) at the time of award.
(c) Auction bid once submitted on or before closing date becomes
the property of MASSAR SOLUTIONS P.J.S.C.
4.13 DEADLINE FOR SUBMISSION OF BIDS
Bid(s) must be submitted via the website not later than the
auction closing date and time clearly stated in the BID/Auction
advertisement(s) appearing in a local newspaper which is considered an integral
part of this Auction. Late bids will not be accepted via the website.
❖ SELLER shall award each LOT to the Bidder whose Bid offer has
been determined to be the highest bid placed on the website .
7 NOTIFICATION OF AWARD CALL:
❖ SUCCESSFUL BIDDERS will receive an award letter at the close of
auction by means of an electronic mail and SMS (text message) which have been
declared as valid, current, operative and accessible.
Such electronic mail award letters will contain at minimum the vehicle details,
SELLERS details and the SUCCESSFUL BID amount inclusive of VAT.
Caution : bidders’
failure to state an operative, valid, current, and accessible contact numbers
to reach them on their bid documents can result in successful bidders being
subject to Clause 2.3.4 “Payment”, i.e. possible forfeiting of the bidder bid
security deposit. It is therefore encouraged that bidders maintain their bidder
profiles by updating these details from time to time on the website.
❖ It is the BIDDER sole responsibility to enquire about the
bid/auction status and results, within seven (7) working days from the Auction
closing date if he has not received the award letter.
❖ Upon the announcement of the bid results, unsuccessful Bidders’
Bid Security Deposits will be released to unsuccessful Bidders upon presenting
proper & valid identification documents by the bidder himself or his
authorized/legal representative.
❖ PAYMENTS:
Successful Bidder must pay the Total Awarded Bid which
includes VAT (i.e. Full amount of the Awarded LOT(S)
within seven (7) Business days from the bid announcement date. The
said payment shall be deposited in the account of MASSAR SOLUTIONS P.J.S.C as
provided with the letter of Award.
❖ Payment for awarded lots through personal/corporate
cheque will be cleared after 48 hours from when it was deposited.
❖ Not Paying on time:
In the event of non-payment of the total awarded value within
seven (7) business days of collection the Award Letter, the total amount of
security deposited will be forfeited.
9 COLLECTION OF LOT(S):
❖ Successful Bidder shall at his full expense collect the purchased
LOT(S) and clear the
❖ SELLER’s site not later than ten (10) Calendar days from the
date of realization of payment of the Total Awarded Bid.
❖ Collecting of a LOT(S) can only be against presentation of the
Original Award Letter, or the Original Traffic Department Ownership
Transfer documents from the SELLER and the
valid identification of the collector and his relation to the successful
bidder.
❖ Failure to clear the site as detailed above shall result in
parking fee(s) application reference to Clause 2.3.6 “Parking Fee”.
❖ After clearing the site, it’s strictly prohibited to
park the award (LOT) vehicle outside around MASSAR SOLUTIONS P.J.S.C premises , failure to do so will attract a
penalty of 5% from the security deposit which shall be forfeited .
❖ The Bidder and his representatives should adhere to MASSAR
SOLUTIONS P.J.S.C Health & Safety Policy and all other safety related
requirements, during removal of any LOT.
❖ As such, all lifting EQUIPMENT’S should be inspected and have
valid CERTIFICATES prior to start of any activities on site.
❖ LOT(S) removal from site should be carried out during MASSAR
SOLUTIONS P.J.S.C working hours {Sun.-Thu., 7:30 – 16:30}, otherwise removal
timing should be directly arranged with MASSAR SOLUTIONS P.J.S.C official site
representative.
❖ Bidder shall take care and secure all necessary measures,
during the Bidding Process and Collecting of the LOT(S), to avoid any damage to
any MASSAR SOLUTIONS P.J.S.C property and for such damage(s) if any, the Bidder
shall be liable to pay the SELLER the cost of repairs of replacement for the
damages or losses caused.
10 Transfer of Ownership
• Transfer of ownership by successful bidder of his own from
Government authority/Traffic authority. No additional cost.
• Sale letters will provide after 15 to 20
working days from the
• date of complete payment amount.
• All costs of changing the vehicle(s) HIAZA are borne
by the buyer
11 PARKING FEE:
In the event of a successful bidder defaulted to collect the
purchased LOT(S) and clearing the site within the specified time
period as stipulated in Clause 2.3.5 “Collection of Lot(s)”,
the Bidder will be charged a parking fee at a rate of Dhs.
100 per LOT per Calendar day for each calendar
day beyond the expiry date of the specified period to collect and clear the
site of the LOT(S) and till the date were the LOT(S) are physically collected
and the site is cleared as dated and stamped by the SELLER’s
Site
Representative on the Original Gate Pass or Check List
Document.
12 BID SECURITY RELEASE:
The SELLER will release the Bid Security to awarded bidders only
after:
Completion of awarded lot(s) collection by the respective
bidder; and
Verification & Settling of any parking fees if any.