What should you bring in order to bid?
- A bank draft/cashler’s order equivalent to 5% or 10% of the fixed reserve price payable to respective bank, as stated in POS* & COS*
- Identification card (I/C) together with a photocopy of I/C (both sides)
- An Authorisation/nomination letter (if you are bidding for someone’s behalf)
- Additional funds to apy difference between reserve price and successful bid price. (5% or 10% of the successful/additional bid price)
For Corporate buyers:
- Company M&A (Certified true copy by Company Secretary)
- Form 24 (Certified true copy by Company Secretary)
- Letter of authorization (with letterhead and Company Stamp, signed by at least 1 Director)
- Photocopy I/C of Directors
- Additional funds to pay the difference between the deposits paid upon registration. (5% or 10% of the successful/additional bid price)
Note: A person who has not reached the age of 18 (minor) or bankrupt shall not be permitted to participate for the auction bidding.
* POS Proclamation of sale
* COS Conditions of sale