Terms and Conditions for Vehicle Auction
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Introduction
- This document outlines the terms and conditions governing the participation in our vehicle auction.
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Eligibility
- Participants must meet the legal age requirement to bid in the auction.
- Proper identification, including government-issued ID, is required to participate.
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Registration for Bidding
- Participants must register with accurate information to bid.
- Registration may include payment of a refundable deposit of PKR 100,000/vehicle.
- We reserve the right to deny registration or participation at our discretion.
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Vehicle Information
- All vehicles are sold "as-is" without any warranty, either expressed or implied.
- Vehicle descriptions, including condition and mileage, are provided to the best of our knowledge but may not be guaranteed.
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Bidding Process
- Bidding increments, starting bids, and bidding procedures will be determined by the auctioneer.
- The highest bidder, as determined by the auctioneer, will be the winning bidder, on or above the reserve price of the vehicle.
- Once a bid is accepted, it is legally binding.
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Payment
- Winning bidders must pay for their vehicles in full within 3 business days.
- Accepted payment methods and applicable fees will be outlined.
- Failure to pay within the specified time may result in forfeiture of the deposit money and additional penalties.
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Buyer's Premium
- No buyer's premium will be charged.
- There will be additional cost if the buyer wants to get any additional services i.e Warranty, insurance etc.
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Reserve Prices
- All vehicles will have reserve prices set by the seller. If the reserve is not met, the vehicle may not be sold.
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Ownership Transfer
- Ownership transfer and applicable fees are mandatory, and are the responsibility of the buyer.
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Dispute Resolution
- Any disputes will be resolved through arbitration or legal means as outlined in local laws.
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Liability
- We are not responsible for accidents, damage, or theft on the auction premises.
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Termination of Auction
- We reserve the right to cancel or postpone the auction for any reason.
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Changes to Terms
- We reserve the right to modify these terms and conditions at any time.
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Governing Law
- These terms and conditions are governed by the laws of [Your Jurisdiction].
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