VEHICLE ONLINE AUCTION

BIDDERS FORM AGREEMENT

Vehicle Online Auction

Oct. 24, 2023 to November 6, 2023

1.    You must be a registered bidder to participate in this auction. The registered bidder hereby agrees to comply with all terms specified in this notice.

2.    The participating bidders shall be required to render a refundable bid deposit in the amount of Twenty Thousand Pesos Only (  Php 20,000.00. )

3.    The bid deposit shall automatically be put on hold as a security bond in the event the bidder wins at the auction and shall be refunded only upon completion completion of Transfer of Ownership.  For non-winning bidders, the bid deposit shall be refunded within five (5-10) banking days after the auction.

4.    The AUCTIONEER may refuse and disqualify a person or entity from participating in the auction if the record will show that the applicant registrant has failed to comply with the policies and procedures and standards during the previous auctions.

5.    Use of Internet, website, or other means of electronic commerce – The AUCTIONEER may offer certain lots to Internet bidders using its Internet bidding platform at HMRbid.com or any other internet-related bidding platform the AUCTIONEER may employ (the “Service”); however, AUCTIONEER shall not be liable for any losses or damages arising out of or resulting from:

a.    The failure of any information or data to be transmitted or received in a timely manner, or

b.    The interruption of any data transmission; or

c.    The use of or inability to use the HMRbid.com service 

6.    The AUCTIONEER cannot and does not guarantee that bids placed via online bidding services will be transmitted to or received by the AUCTIONEER in a timely manner, further, the AUCTIONEER has the sole discretion to accept or refuse any bid.

7.    The particulars, descriptions, measurements, quantities, and photos in the catalog are for the purpose of identification of the lot and are NOT WARRANTIES in any way as to the correctness thereof. All registered bidders should inspect the lots prior to bidding and satisfy themselves with the status and condition of each lot. All lot/vehicle is sold on an “AS IS, WHERE IS” basis, with no warranties expressed or implied. Bidders may inspect the vehicle prior to bidding.  It is the sole responsibility of the Bidder to ascertain, confirm or verify any and all vehicle information including but not limited to car plate status, non-contact violations or apprehensions associated prior to the auction of the vehicle.   

8.    All Items declared “WORKING” and “GOOD” will be sold on an “AS IS, WHERE IS, NO WARRANTY, NO GUARANTEE” basis and are sold with all faults if any. The AUCTIONEER accepts no responsibility for any lot or lots sold at the end of online bidding. The winning bidder is not allowed to WITHDRAW, RETURN, CANCEL, and REFUND any lot(s) after being declared as the purchaser.

9.    The AUCTIONEER has the right to withdraw any lot(s) from the sale without stating a reason thereof.

10.  Viewing and inspection are strongly recommended prior to joining the bidding to check the actual condition of the items. Interested bidders should inform HMR AUCTION SERVICES INC. at least one (1) day before the intended viewing date.   

11.  If the bid price is below the Reserve Selling Price, the highest bid amount will be recorded and subject FOR APPROVAL. HMR will notify the highest bidder if the said items will be awarded. The highest bidder is not allowed to withdraw their bid once awarded.

12.  There is a 5% Buyers Premium in addition to the bid price applicable to all lots in this sale.

13.  The Winning Bidder shall pay a Notarization and Shipping Fee for the Deed of Sale; Php 600.00 per unit.

14.  Payments are strictly in the form of cash, manager’s check, or direct deposit to the Auctioneer’s account; BDO Account# 004850199138 Pioneer Highlands Madison Branch. Payable to HMR AUCTION SERVICES, INC. II The winning bidder is required to send a copy of the bank validation at [email protected]

15.  At the time of payment and prior to pull-out, winning bidder must submit to the AUCTIONEER all requested forms, documents  and ID’s as directed by the Auctioneer. It shall be the responsibility of the winning bidder to ensure that all said requirements are authentic, complete and accurate. Failure  to  do  so  will  delay  the  release  of  Official  Receipt,  Certificate  of  Registration,  Deed  of Absolute Sale,  Secretary Certificate and other transfer documents.

16.  Upon full payment and submission of the required documents, the winning bidder may pull-out his vehicle and the Seller through the AUCTIONEER shall release the following:  

A. Photocopy of Official Receipts and Certificates of Registration covering the Subject Vehicles.

B. Certificate of Award

C. Within 30-60 working days – original copy of Official Receipt and Certificate of Registration (Unless consignor declares none and made known to the bidder prior the auction)

D. Within 30-60 working days – Deed of Absolute Sale and other transfer documents necessary to effect transfer of registration to   winning bidder’s name. 

17.  All applicable taxes and import duties, fees, VAT/Ad Valorem, and other expenses imposable on the transaction shall be the responsibility of and for the sole account of the winning bidder. 

18.  The winning bidder agrees and undertakes that it shall cause the transfer of registration of the Subject Vehicles to its name within sixty (60) working days from execution of the Deeds of Absolute Sale.   The winning bidder assumes and acknowledges sole responsibility for the use of the Subject Vehicles from the time the winning bidder takes delivery of the same.  The winning bidder shall indemnify and render free and harmless the  Seller,  its successors, and assigns against any and all damages, losses, claims, charges, actions or complaints for injury or death, and/or damage to or loss of property, of whatsoever nature and howsoever arising which the Seller and/or any third party may suffer, and/or for expenses or costs in relation thereto which the Seller and/or any third party may incur arising out of or in connection with (i) the use of the Subject Vehicles from the time it is delivered to the winning bidder; (ii) the non-registration by the winning bidder of the transfer of the Subject Vehicles, or (iii) any other causes related to the Subject Vehicles from the time the winning bidder takes delivery of the same.

19. Winning bidder agrees and undertakes a face-to-face (KYC) interview with the authorized representative of the seller/consignor at the AUCTIONEER’s facility prior to pull out. Meeting schedule must be arranged with the AUCTIONEER for proper coordination with the seller/consignor.

20.  All won lot/s should be checked out on the cart page and must be paid strictly within three (3) banking days with the absolute deadline of payment on November 9, 2023; otherwise, bids will be cancelled, the bid deposit will be forfeited and the bidder will be banned from future biddings. There shall be no partial payment for won lot/s

21.  Paid lots not removed within the pull out deadline will be forfeited.

22.  Winning bidder must refrain from doing any repairs or improvements on the vehicles pending receipt of all pertinent  documents  necessary  to  effect  transfer  of  registration  to  his  name.  Accordingly, any repairs or improvements done prior to receipt of such documents shall be for the sole account of the bidder.

PULL OUT GUIDELINES:

A.   Complete requirements must be submitted and approved prior to pull out. Processing time for documents is 24 hours (excluding weekends and public holidays) upon complete submission. Cut off for submission is 12noon. All documents received after 12noon will be processed the following business day. HMR will inform the winning bidder on the schedule of release of the vehicle.

C.    No unit/s shall be allowed to pull out without the presentation of the HMR receipt, Authorization letter (if applicable), and Valid ID to an authorized staff that will assist in the pull out of the won unit/s.

D.   Storage fee is Php 100.00 per day for vehicle that remain in the warehouse.

E.    Deadline to pull-out the vehicle is November 18, 2023 (Except Sunday). STRICTLY NO EXTENSION, otherwise all payments and unit/s will be forfeited.

F.    Bidders are required to bring their own labor and or equipment such as crane or boom truck. Details must be submitted upon payment.

G.   Logistics or shipping of the vehicle will be handled by the winning bidder.

H.   Wearing slippers, sleeveless and short pants are strictly prohibited.   

I.      Proper housekeeping must be observed at all times. All the unwanted materials at the work site must be hauled out by the bidder right after work, and the cost of the clean-up will be deducted from the security bond.

J.     Any damage done to other units, equipment, properties, or structure in the vicinity caused by the removal of won lots shall be charged to the bidder. The cost of damage shall be computed by HMR Safety & Security Officer.

K.   The winning bidder agrees to defend, indemnify and hold Owner and Auctioneer harmless from all and against any and all claims, personal injuries, liabilities, demands, suits, damages fines, penalties, and any associated costs and expenses, including but not limited to consequential damages and attorney’s fees which may assert against or incurred by the Owner as a result of winning bidders handling, labeling, transportation, storage, use sale or disposal of the awarded lot.

L.    THE WINNING BIDDER AND/OR ITS REPRESENTATIVE MUST COMPLY WITH THE DIRECTIONS ISSUED BY HMR STAFF

USE AND DISCLOSURE OF PERSONAL/CORPORATE INFORMATION

By clicking this Agreement, you unconditionally consent to making your personal/corporate information collected in the performance of the services herein, available to the Auctioneer, its employees, affiliates or third parties. Auctioneer shall use and keep the personal/corporate information in strict confidence and in accordance with the Data Privacy Act of 2012. This consent shall be remain effective unless withdrawn in writing