Vehicle Online Auction

BIDDERS FORM AGREEMENT- AUTO AUCTION

Online Auction- July 8 – July 20, 2024

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 for 1-3 units. For more than 3 units but not exceeding 7 units, a Bid Deposit of One Hundred Thousand Pesos (Php100,000.00) is required. AUCTIONEER at its sole discretion may require additional bid deposits for more than 7 units.

The Bid Deposit shall automatically be put on hold as security bond in the event the bidder wins at the auction. The Bid Deposit shall answer for any damage or injury caused by the participating bidder to the person or property of the Seller, AUCTIONEER or other bidder or their agents, employees or representative during the course of his participation at the auction or pull out of the vehicle he won at the auction or for failure to comply with the bidding rules. For non-winning bidders, the Bid Deposit shall be refunded upon submission of original copy of Acknowledgment Receipt on the same day of the auction if paid via cash or within 5 banking days if paid via bank deposit or if check, refund will be in the form of CHECK (provide photocopy of ID and bank details) and upon determination by the Auctioneer that the bidder does not have any outstanding due to Auctioneer.  The Bid Deposit shall not operate to limit the liability of the bidder nor relieve the bidder from any of his duty for its breach of the bidding rules and conditions.

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:

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

The interruption of any data transmission; or

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

4.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.

5.  If the bid price is below the Reserve Selling Price (RSP), the vehicle will remain unsold. However, the AUCTIONEER will get the highest bid for recording.  After the auction, any  unsold lot/vehicle  will  be  made  available  for sale  by  negotiation and  this shall  be  subject for Seller’s approval. AUCTIONEER will notify the highest bidder within three (3) working days if said lot/vehicle will be awarded to him.

6. The AUCTIONEER’S decision is final. He has the right to refuse any bid or withdraw any lot(s) from the sale without stating a reason thereof.

7.  The  particulars,  descriptions,  measurements  and  quantities  in  the  catalogue  are  for  the  purpose  of  identification  of the vehicle  and  are  NOT WARRANTIES  in  any  way  as  to  the  correctness  thereof.  The  AUCTIONEER does  not  guarantee the  information  on  the  sticker  of  the  lot/vehicle specifications and will not arbitrate based only on information.

8. 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.  

9. AUCTIONEER accepts no responsibility for any lot/vehicle sold upon the fall of the hammer. The winning bidder is not allowed to withdraw or cancel any bid/s after being declared as the winning bidder.

10. BUYER’S PREMIUM- There is a 5% Buyer’s Premium in addition to the bid price applicable to all units in this sale.

11. The winning bidder shall pay a notarization fee for each vehicle; depending on the Bid Amount per Deed of Absolute Sale.

12. The winning bidder shall cause the transfer of registration of the vehicle from the Seller (or previous owner, if any) to its name. The Winning Bidder shall solely defray the expenses of such registration including but not limited to VAT/Ad Valorem, applicable import duties and taxes, cancellation of chattel mortgage, etc.  The  Seller  shall  have  no  obligation  to  the  winning  bidder  with   respect   thereto   except   to cooperate  with  the  winning  bidder  by  providing  the  winning  bidder  such  documents  required for such registration.

13. AUCTIONEER shall record the bid of the 2^nd highest bidder and automatically retain the bid deposit.  In the event the winning bidder renege on or revoke his bid, his bid deposit shall be forfeited and the 2^nd highest bidder will automatically be declared the highest bidder, subject to the approval of the Seller.

14. Acceptable forms of payment: cash, manager’s check or direct deposit to the AUCTIONEER’s account:   BDO Account#4850178661 Pioneer Highlands Madison Branch. Payable to HMR Auction Services Inc.

15. 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 July 24, 2024; 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

16. 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 including but not limited to:. Refer to Annexes attached to this agreement. 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.

17. 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: 

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

Certificate of Award

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.

18. No pull-out of vehicle will be allowed without the presentation of a receipt showing full payment to an authorized HMR Auction staff.

19. The winning bidder represents and warrants to the Seller that:

The winning bidder has the power to enter into and perform this Bidders Form Agreement, and has taken all necessary actions to authorize its execution and delivery and the performance of its terms and conditions;

This Bidders Form Agreement constitutes a legal, valid, and binding obligation of the winning bidder, enforceable according to its terms;

c.  The   execution,   delivery,   and   performance   by   the   winning   bidder   of   this   Bidders   Form   Agreement   will   not violate  in  any  respect  any provision, or result in the breach, of any Contract to which the winning bidder is a party, or any law, rule, regulation, order, writ, judgment, injunction, decree, determination, or award of any authority, agency, or court, presently in effect and binding on the winning bidder, or any other restriction of any kind or character to which the winning bidder is subject.

20. The winning bidder agrees and undertakes that it shall cause the transfer of registration of the vehicle 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 vehicle from   the   time   the   winning   bidder   takes   possession of   the   same.   The winning  bidder  shall  indemnify  and  render  free  and  harmless  the  Seller,  its successors and assigns and/or AUCTIONEER 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 arising out of or in connection with (i) the use of the vehicles from the time it is delivered to the winning bidder; (ii) the non-registration of the vehicle or (iii) any other causes related to the vehicle from the time the winning bidder takes delivery of the same.

21. The issuance of the Official Receipt (OR) and Certificate of Registration (CR) to the winning bidder shall be a pre-requisite for the use of the vehicle.

22. Lot Nos. 5, 6, 11 . Winning bidder agrees and undertakes to submit required requirements at the AUCTIONEER’s facility prior to pullout.

23. Lot Nos. 1, 2, 3, 4, 7, 8, 9, 10, 12, 13, 14 .  Refund of Deposit is only upon submission of proof of transfer of ownership (Certificate of Registration) to its name and submission of original copy of Acknowledgment Receipt issued by the Cashier.

24 . Lot No. 1 . Winning bidder will process the payment of VAT at the Bureau of Internal Revenue (BIR). Units can be pulled out only after validation issuance of BIR payment and official receipt and approval from the seller.

25. PULL-OUT GUIDELINES: 

Complete requirements must be submitted and approved prior to pull out. 

The winning bidder must personally pull-out the vehicle. If not possible, a notarized SPA is required before the vehicle is released to his representative. Please provide the following information: Driver’s complete name, Driver’s contact details, model & plate number and type of the vehicles/trucks to be used during pull-out. The winning bidder must provide these details to AUCTIONEER AT LEAST 1 day prior to the pull out (during office hours only). No Details, No Gate Pass, No Pullout. 

Storage fee is Php100.00 per day for vehicle that remain in the warehouse.

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

Deadline to pull-out the vehicle is July 27, 2024. STRICTLY NO EXTENSION, otherwise all payments and unit/s will be forfeited.

Necessary  Personal  Protective  Equipment  (PPE) / Safety  Gadgets  shall  be  provided  by  the  winning  bidders  &  shall  be checked & approved by the HMR Safety & Security Officer.

Any damage done to other equipment, properties, or structure in the vicinity caused by the removal of the vehicle shall be charged to the bidder. Cost of damage shall be computed by AUCTIONEER.

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. In the event winning bidder does not practice proper housekeeping, the cost of the clean-up will be deducted from the security bond

i.  Winning  bidder agrees  to  defend, indemnify,  and  hold the  Seller 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 asserted against or incurred by the Seller as a result of winning bidders dismantling, handling, labeling, transportation, storage, use sale or disposal of the awarded lot.

26. BIDDER’S CLEARANCE FORM - After completion of pull-out, Bid Deposits will only be refunded upon presentation of clearance form issued by the Auctioneer.

27. 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.

28. The Auctioneer may disqualify any bidder for the following reasons:

Bidder disturbs the auction proceedings or creates a commotion during the auction.

Bidder was found to have misrepresented himself.

Bidder was caught conniving with another bidder.

Bidders with outstanding balance.

29. USE AND DISCLOSURE OF PERSONAL/CORPORATE INFORMATION

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.

IMPORTANT NOTICE:

By Signing below you are acknowledging that you have read & understand the “Bidders Form Agreement” and agree to comply with all the specified Terms and Conditions.

BIDDER’S NAME:                                                      SIGNATURE:                                                                                                    DATE:

Bidders Agreement Annex:

Online Event: July 8 – July 20, 2024

22. 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 including but not limited to:. Refer to Annexes attached to this agreement. 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.

NOTE: Complete documents must be submitted and approved prior to pull out.  

Lot Nos.: 5, 6, 11.

Buyer Name: _________________________

Signature: ___________________________

Date: ________________________________