Terms and Conditions for E-Auction

Auction Schedule

On Tuesday 21st june 2016 from 9.00 am. to 3.00 pm.

On Tuesday 21st june 2016 within 5.00 pm.

200 real estates with total value of more than THB 300,000 million

Terms and Conditions for E-Auction

  1. Asset Bright Public Company Limited is a sole selling agent and all assets are owned by sellers.
  2. Bidder who make the highest bidding price will have a right to buy such assets.
  3. Assets auctioned are sold as is, so all assets will be considered by each bidders.
  4. ABC would reserve the right to change price and conditions of auction along with current circumstance and market mechanism without inform in advance.
  5. In case of force majeure such as failure of electricity power, internet or ABC E-Auction system that could not make auction happen, bidders agree to skip any claim for damages to the Company.
  6. Auction price will be started from cost estimate and could be increased by at least THB200,000 per time. Whoever makes the highest bidding price will be the winner.
  7. Once the highest bidder got any asset by auction. The Company will inform you by phone and send e-mail to announce the result within 5.00 pm on the auction date or you will know the results from E-Auction system during auction or after auction.
  8. After got any asset by auction, the bidder has to proceed “Purchasing Agreement” with paying deposit by 25% of total asset value within 7 days from the auction date and pay the remaining amount of 75% of total asset value within 30 days after auction date at Asset Bright Public Company Limited’s office.
  9. If the highest bidders do not place any amount agreed, the Company would reserve the right to keep deposit and take such assets to return from buyers.
  10. The highest bidder will pay commission by 3% of asset value on the date of signing “Purchasing Agreement”.
  11. The highest bidders agree that ownership transfer fee is upon conditions in each assets that could check details.
  12. The ownership transfer will happen after buyers already paid full amount of auctioned price.
  13. The Company reserves the right to cancel E-Auction once any situations happen :
    • Members inform any faked information in their member application before or after auction.
    • Members do not perform along with terms and conditions of this E-Auction required.
    • Members fail to pay any amount within specific time required.
    • Members significantly change their financial balance that could be effected payment.
    • Members are sued in civil or criminal court, filed bankruptcy or seized assets by government units.
    • Members passed away or missing.
    • Members are incompetent or bankruptcy by court order.
    • Members cannot be contacted by the Company.
  14. In case of changing address, office, e-mail, or telephone number that used to give, bidders have to inform new information to the Company immediately.
  15. With this auction, the Company as a selling agency will not guarantee or certify any failure of assets auctioned including source of asset origin within any case. The bidders agree and satisfy assets auctioned as is even visit and/or investigating assets or not.
  16. If any disputes happen in any case, the Company reserve the right to make a decision solely and it should be the final result. The Company reserves the right to change any conditions of auction to suit with any situation without inform in advance and all bidders agree to accept all terms and conditions mentioned above.