BENNIS AUCTIONS TERMS OF PARTICIPATION

Overview

This auction is conducted as an electronic (e-auction). All viewing and bidding activities shall take place exclusively on the designated online portal. By participating, bidders confirm that they have reviewed, understood, and agreed to these Terms and Conditions.

Eligibility & Registration

Participation is open to individuals and duly registered legal entities who complete the required registration process and obtain a unique bidder identification number. Each bidder must act independently and not in collusion with any other participant.

Viewing & Inspection

All assets are located at the Forcados yard and are offered based on the information and images provided on the portal. Bidders are expected to carry out their own due diligence and satisfy themselves as to the condition, specifications, and suitability of the items prior to placing any bid.

Bidding Process

Bidding shall be conducted electronically through the platform. A bid submitted on the portal constitutes a binding offer.

Payment Terms

The highest bid at the close of the auction shall be deemed the winning bid, subject to compliance with these Terms. The successful bidder is required to make full payment within the stipulated payment window communicated by the auctioneer. Failure to complete payment within this period will result in forfeiture of the award, and the asset will be offered to the next highest bidder.

All payments must be made through the approved payment channel, with proof of payment submitted as required.

Sales Conditions

All sales are on an “as is, where is” basis. No warranties or guarantees are provided regarding the condition or performance of any asset. All sales are final, and no returns or exchanges will be accepted.

Logistics & Collection

Buyers shall bear all costs associated with the purchase, including but not limited to logistics, loading, transportation, duties, and any other applicable charges. The responsibility for collection and removal of purchased items rests solely with the buyer.

Acceptance of Terms

By participating in this auction, bidders acknowledge and accept all the above terms and conditions.