Terms and Conditions for Properties Auction
CIMB THAI PCL conducts properties auction with following terms and conditions:
- Closed bid. Interested parties can ask for auction form at every CIMB THAI branch.
- Bidding to be tendered in sealed envelop with crossed signature on the back of the envelop within the given time.
- Viewing of properties
- Auction participants can see properties before the date of auction by informing the Asset Management Department at the bank at least 1 working day at Tel.0-2638-8080 Fax. 0-2633-9068.
- Time and date of auction
- Bangkok and vicinities: Auction held every second week of the month. Bidding accepted from 9.30 am. Until 3.30 pm. at every CIMB THAI branch.
- The provinces: Auction held every third week of the month. Bidding accepted from 9.30 am. Until 3.30 pm. at every CIMB THAI branch.
- Auction documents and guarantee
- Cashier's cheque worth 5% of the starting auction price per item or not less than 20,000 baht paid to CIMB THAI PCL. The cashier's cheque will be returned if bidding is not successful.
- Auction form (issued by the bank)
- Non-legal entity: copy of identity card and copy of house registration or passport (in case of foreigner) of auction participant with proper endorsement.
- Legal entity: copy of identity card and copy of house registration of authorized personnel with proper endorsement with copy of certificate from the Commerce Ministry made within 3 months with signature from authorized company personnel for endorsement.
- Person not eligible for auction
- Director, advisor and personnel within the Asset Management Department at CIMB THAI PCL.
- Opening of bidding envelop
- Within 7 working days by CIMB THAI's auction committee
- Expenses involved on the part of auction participant and buyer