PROPOSED TERMS AND CONDITIONS FOR THE AUCTION OF ASSETS (4 SALON CARS, 2 MOTOR BIKES & 2 GENERATORS) FOR ASHARAMI SYNERGY (A SAHARA GROUP COMPANY) 2024, AT BLOCK 5 IJORA GRA BESIDES LAGOS WATER CORPORATION, IJORA, LAGOS

A. GENERAL:

1. You can and should only participate in this auction on the basis that you accept the following terms and conditions relating to the conduct of the Auction.

2. The Auction is a timed online auction only.

3. Only current members of staff of Asharami Synergy and Sahara Group can participate in the auction.

4. Bids by any non-member of staff of Asharami Synergy & Sahara Group will be nullified at any point of establishing that the bid was not by a member of staff.

5. The assets shall be sold Where-Is-As-Is.

6. Neither CRLimited Auction House nor Asharami Synergy & Sahara Group will be responsible for any cost incurred by the bidder during /after the bidding process and any defect after payment.

7. Each Lot will be sold to the highest bidder.

8. You cannot bid for more than two assets.

B. Payment:

1. Payment is the full amount of the winning bid upon confirmation to the winner.

2. Failure to pay the full amount of the winning bid within 72hrs of confirmation will mean the cancelation of the sale to the bid winner.

3. In the event that the bid winner is unable to pay, the next highest bidder or any other bidder will be invited to pay.

4. All payments should be to:

Account Name: CRLIMITED AUCTION HOUSE LTD

Bank Name: PROVIDUS BANK

Account Number: 5400734771

C. BIDDING & RESERVE PRICE:

1. Only online bidding within the specified time and by qualified registered participants will be accepted.

2. If there is a dispute over bidding, it is the entitlement of the Auctioneer to resolve same, and our decision is final.

3. Each Lot is subject to a Minimum/Opening Bid.

D. THE PARTICULARS & OTHER INFORMATION:

1. We have taken reasonable care to prepare the particulars that describe each Lot and match the items into Lots. However, we are not responsible for errors in this regards.

2. The particulars are for your information but you must not rely solely on them.

3. You must conduct an independent assessment of the assets and particulars and SHOULD ONLY BID if satisfied with their condition.

E. INSPECTION AND REGISTRATION:

1. Locations for physical inspection are stated in the Catalogue

2. Inspection is from Friday 12th – Monday 22nd 2024.

3. Registration is strictly online and the portal is asharami.crlimitedauctions.com

4. You must be a current member of staff of Asharami Synergy & Sahara Group to register.

F. PARTICIPATION:

1. Only members of staff (current employee) of Asharami Synergy & Sahara Group) can and should participate in this auction.

2. Any or all bids by non-employees will be immediately nullified

3. Participation is free

G. Auction/Bidding

1. The platform for bidding will open by 12: 01AM on Friday 26th July 2024.

2. Bidding will close at 11:59pm on Monday 29th July 2024.

3. No late bidding will be accepted as the system will shut down/close the auction on expiration of time.

4. Only the last bid captured by the system and invoice generated will be accepted as the last acceptable bid.

5. Each Lot will be sold to the highest bidder upon the closing of the bid. (Subject to clause B2 above).