Terms & Conditions

 

  1. Each bidder will have to deposit an earnest money of Nu. 5000.00 (five thousand) in cash with Bhutan Telecom, latest by 9:45 A.M (BST) on the day of auction to qualify him/her to bid the auction. On receipt of the earnest money, token cards will be issued to identify the qualified bidders.
  1. No person will be allowed to bid in the auction without holding token card.
  1. The highest bidders whose bid will be accepted by the auction committee will have to deposit 25% of the auctioned value in cash at the fall of hammer and balance within 10 (ten) days from the date of auction failing which, accepted bids will be cancelled and the earnest money deposits will be forfeited.
  1. The earnest money of the highest bidders will be retained untill the auction is completed as security for subsequent bids to be offered by them in respect of remaining items. On completion of the auction, the earnest money of the highest bidders will be adjusted against the auction value of items won by them. The earnest money of unsuccessful bidders will be refunded immediately after completion of the auction.
  1. The highest bidders whose bids are accepted by the auction committee will have to take delivery of the item at their own cost immediately upon payment of remaining 75% of the bid value in cash or demand draft in favour of Bhutan Telecom, Thimphu. Failure to do so will result in forfeiting the deposit and the item will be disposed in the next auction.
  1. Bhutan Telecom Limited will not be liable, incase of any loss or damages to the items from the date of auction till the highest bidder takes delivery of the items.
  1. The auction committee reserves the right to accept or reject the bids without assigning any reason whatsoever. In case of misunderstanding, controversy or dispute with regard to the auction, the committee's decision will be final and binding.
  1. The auction committee also reserves the right to accept the bids on the spot or at any subsequent date. Even in case the bid is not accepted on the spot and the decision is differed, the highest bidders shall be required to deposit 25% of auctioned value, which will be refunded in the event of bid being rejected subsequently.
  1. All the bidders have to pay a bidding fee of Nu. 100/-which shall not be refunded.