Conditions of quarrel in the auction
1. Whoever wishes to auction electronically must register on the (Saudi Auction) platform, and pay the participation amount at the specified value for each asset through the (Saudi Auction) platform, and the amount is considered part of the price for those who win the auction and are not entitled to recover it, and the rest of the sale amount is transferred to the account of the Attribution and Liquidation Center recorded in the award minutes.
2. Whoever wishes to bid in his presence must submit a certified check in the name of the Attribution and Liquidation Center at the specified value of the property, and the amount is considered part of the price for the one who wins the auction and is not entitled to recover it, and in the event that the auction is awarded, a check is issued with the rest of the value of the property in the name of the Attribution and Liquidation Center.
3. Whoever wishes to bid in person must attend in person or his legal representative to the auction hall.
4. When the auction is awarded to the buyer, the amount is paid immediately, and in the event that payment is not possible within three working days, he bears the costs of resale and all the costs of the auction at his expense and the Center has the right to extend the period of three working days to ten working days if needed.
5. Preview of the asset during the advertising period.
6. The option of the Board shall be forfeited upon the award of the auction.
7. The person who wins the auction shall write a cheque in the name of the Attribution and Liquidation Center or transfer to the account of the Attribution and Liquidation Center recorded in the award minutes for the amount of the quest in the amount of 2.5% of the sale price, including VAT on the quest.
8. The buyer is obligated to pay the real estate transaction tax of 5% of the sale price only during the collection period specified above.
9. Sale and emptying shall be carried out in accordance with the business rules of the Attribution and Liquidation Center “Infath”.