Terms

TERMS AND CONDITIONS FOR THE ONLINE AUCTION OF SCRAP 165 KVA GENERATOR AND TWO VEHICLES

BY PARTICIPATING IN THIS AUCTION, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREED TO PARTICIPATE SUBJECT TO THE TERMS AND CONDITIONS STIPULATED BELOW. AUCTION SALE OF ONE USED GENERATOR AND OTHER TWO VEHICLES.

A. General terms and conditions

1. All items are sold under the term “SOLD AS IS WHERE IT IS BASIS” and are intended to be sold as they are with no reconditioning in the sales.

2. The auctioneer on behalf of the seller has absolute discretion, without giving any reason, to refuse any bid, divide any lot, combine two or more lots, withdraw any lot from the auction, and, in case of any dispute, put any lot up for auction again.

3. The description of the lots put on sale and resumed in the Catalogue, must be considered as purely indicative and cannot be subjected to any complaint.

4. The auctioneer (CRLimited Auction House) is the sole arbitrator and the auctioneer’s decision is Final.

5. The auctioneer nor our principal is not responsible for any default bid of the Purchaser.

6. The seller reserves the right NOT to sell an item (s) if the minimum reserve price is not met. The minimum reserve prices are confidential and only known by the auctioneer and our principal.

7. The auction is governed and construed in accordance with the laws of the land of the Federal Republic of Nigeria.

8. Online Registration starts from Tuesday 27th May 2025 from 10am, and ends on Monday 9th June 2025 by 4pm.

Payments:

9. The successful bidder will pay 100% of the bid price within 4 hours on the auction day in Nigeria (Naira) Currency. Failure to pay the 100% within the 4 hours, the asset will be transferred to the next highest bidder.

10. No payments shall be accepted after 4:00pm on the auction day.

11. All won items will be processed for release for collection at least 8 working days after completion of auction and receipt of full payment

12. The buyer shall at his/her own expense take away the item/lot purchased following full bid price payment regardless of where the items are located not later than 3 days after issuance of Release Order.

Correspondences and some other important notices

16. The Buyer hereby also agrees that he/she will raise issues of concerns if any exclusively through the Auctioneer.

17. The Bidder/Buyer hereby acknowledges not to be a member of any irregular military formation and that the purpose of this purchase is for “civilian use only”.

18. the bidding process is open to the general public.

19. All participants hereby acknowledges that we reserve the right to use any information and or photographs/videos acquired in the cause of this or any of our auctions either online or live, without the expressed written permission of the participant (s). such information and/or materials may be shared with our principal.

The use of the information is not limited to: brochures, invitations, books, newspapers, magazines, television, websites, etc.

20. Buyer’s Premium:

The buyer shall pay a sum equivalent to 5% of the Hammer Price or sales price known as Buyer’s Premium in addition to payment of the Hammer Price of the lot. This payment shall be made in the name of the auction company.

This is on top of the bid price.

Hence this must be factored into your bidding.

21. DATA PROTECTION ACT:

Please note that your data will be stored in our data bank so that we can keep you updated with our future activities from time to time.

We may also share your data with our client for this Auction.

DISCLAIMER: The Auctioneer is not responsible for any damages or accidents that may occur after the purchase of used items and or after-market rims.

By Bidding it is taken that you have inspected the Lot you are bidding for and satisfied with and accepted the Terms and Conditions of the Auction there of.

We turn it to cash