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AUCTION TERMS OF PARTICIPATION FOR BIDDERS

1. GENERAL PROVISIONS

These Terms of Participation govern the conditions under which bidders may participate in the auction organized on behalf of the Client (the Seller) by the appointed Service Provider. Participation in the auction constitutes full and unconditional acceptance of these Terms. The auction is conducted on an “as-is, where-is” basis, unless otherwise stated.

2. ELIGIBILITY OF BIDDERS

Participation in the auction is open to individuals and legal entities that meet the eligibility requirements established by the seller and the Service Provider.

By signing these Terms, the bidder declares and warrants that:

  • They are legally competent to participate in the auction and enter into binding contractual obligations.
  • They are not a member of any irregular military formation.
  • All purchased items are intended strictly for civilian use only.

Any false declaration may result in immediate disqualification and forfeiture of the participation deposit.

3. REGISTRATION AND PARTICIPATION DEPOSIT

All bidders must register prior to participating in the auction by:

  • Completing the registration form;
  • Presenting valid identification or legal registration documents; and
  • Signing the Terms and Condition of Participation.

A participation deposit, in the amount announced in the auction notice, must be paid prior to participation. No bidder shall be allowed to bid without completing registration and paying the required deposit.

The participation deposit shall:

  • Be deducted from the final purchase price for successful bidders; or
  • Be refunded to unsuccessful bidders within the timeframe specified by the Service Provider.

4. VIEWING OF ITEMS

Bidders are encouraged to inspect the auction items during the officially announced viewing period. No claims shall be accepted after the auction regarding the condition, quality, completeness, or fitness of the items.

Failure to inspect the items shall not constitute grounds for complaint, cancellation, or price reduction.

5. CONDUCT OF THE AUCTION

The auction shall be conducted either as an open auction or sealed bid auction, as announced. Entrance to the Auction site at the start of the Auction is restricted to Registered Bidders only.

The Registered Bidders must make sure that they come to the Auction site on time. Late arrivals may not be granted access to the Auction site. All registered bidders will always have to be seated during the bidding process. Bidders that do not comply with the above measures will be denied participation at the Auction.

  • The Terms of Participation shall be read aloud prior to commencement.
  • Bids shall be made publicly and recorded by the Service Provider.
  • The highest bid accepted by the auctioneer shall constitute the winning bid.
  • The Service Provider reserves the right to reject any bid deemed irregular or non-compliant.

6. AWARD OF LOTS

Each lot shall be awarded to the highest compliant bidder. The Service Provider shall publicly announce and record the lot number, winning bid amount, and bidder identification.

Once declared, a winning bid is final and irrevocable.

7. PAYMENT OBLIGATIONS

Successful bidders must pay one hundred percent (100%) of the purchase price within five (5) working days from the auction date, unless otherwise specified by law or auction notice.

All expenses and cost in respect of taxes, duties and ownership transfer shall be borne by the Buyer. Note: all motor vehicles and other items were originally exempted from duty/taxes hence it is the Buyer’s obligation to pay all taxes and dues within fifteen (15) days after the buyer receiving the Reference number from Ministry of Foreign Affairs of Ethiopia. If the Buyer has not paid the taxes and duties until this date any and all deposit/s made until then will be forfeited and the item/s will be re-Auctioned at the next Auction.

Failure to pay the full amount within the prescribed deadline shall result in:

  • Automatic cancellation of the sale; and
  • Forfeiture of the participation deposit, without any right to claim compensation.

8. TAXES AND DUTIES

  • All applicable taxes, duties, and statutory charges, including VAT where applicable, shall be borne solely by the bidder. Proof of payment must be provided prior to the release of any purchased property.
  • All expenses and cost in respect of taxes, duties and ownership transfer shall be borne by the Buyer. Note: all motor vehicles and other items were originally exempted from duty/ taxes hence it is the Buyer’s obligation to pay all taxes and dues within fifteen (15) days after the buyer receiving the Reference number from Ministry of Foreign Affairs of Ethiopia. If the Buyer has not paid the taxes and duties until this date any and all deposit/s made until then will be forfeited and the item/s will be re-Auctioned at the next Auction.

9. RELEASE AND COLLECTION OF PROPERTY

Auctioned items shall be released to the buyer only after:

  • Full payment has been received and confirmed;
  • All applicable taxes and duties have been paid; and
  • Required ownership transfer procedures have been completed.

Buyers shall be responsible for collection, transportation, and removal of purchased items within the timeframe communicated by the Service Provider.

10. TRANSFER OF OWNERSHIP

The Service Provider shall facilitate ownership transfer, plate return (where applicable), and other administrative processes required by local authorities. Any costs related thereto shall be borne by the buyer, unless otherwise stated.

11. LIABILITY AND RISK

  • All items are sold “as-is, where-is.” Neither the seller nor the Service Provider shall be liable for defects, damages, or losses arising after the award of the lot.
  • Risk and responsibility for the items shall pass to the buyer upon award of the lot, notwithstanding the timing of physical collection.
  • The costs of storage for the items will be borne by the Seller until the issuance of Reference number plus fifteen days. After that period the Buyer will be paying all storage and security costs towards the Seller birr 1000 for each additional day that the items have not been picked up.

12. DISQUALIFICATION AND SANCTIONS

The Service Provider reserves the right to disqualify any bidder who:

  • Violates these Terms;
  • Engages in collusion, fraud, or disruptive behaviour; or
  • Fails to comply with payment or legal obligations.

Such disqualification may result in forfeiture of deposits and exclusion from future auctions.

13. GOVERNING LAW AND DISPUTE RESOLUTION

These Terms shall be governed by and interpreted in accordance with the applicable laws specified by the Client. Any disputes arising from participation in the auction shall be resolved in accordance with the dispute resolution mechanism established by the seller.