Petro 1

Emirates Auction's terms and conditions of public auction shall apply, along with the following terms and conditions

• Administrative fee plus VAT shall apply to each item as follows: 200 AED for sale price up to 500 AED, 300 AED for sale price between 501 AED and 1,000 AED, 600 AED for sale price between 1,001 AED and 100,000 AED, 1 percent of sale price above AED 100,000.
• Emirates Auction does not warrant any of the representations, specifications, information and/or details provided by the Provider, and the Bidder is responsible for reviewing the data, announcements and information regarding the status of the Bid prior to bidding.
• You must complete the payment within 48 hours from the date of obtaining the Provider's approval.
• Emirates Auction reserves the right to apply a storage fee of AED 100 for each day of delay without notice for any offer that is not paid for within the specified period and AED 100 for each day of delay that is also not received within the specified period.
• Subject to the Provider’s approval
• The images attached to the auction are illustrative tools only and indicative only.
• The buyer will be informed of the date of attendance to receive the get pass and then go to receive the asset from the place specified by the Provider.
• The buyer is responsible for the necessary work to cut and receive the asset from the place specified by the Provider.
• The buyer is responsible for cleaning the place after receiving the asset from the place specified by the Provider.
• Participation in the auction means knowledge of the ignorance of the status of the asset and is considered an acknowledgement of the inspection and applies the terms and conditions
• 5% VAT will be applied to the final auction price.
• Please note that the display of the assets in the auction is (5) consecutive days.
• The winner bidder is obliged to pay any government fees added by the relevant government agencies
• Please note that the Provider will provide the buyer with a certificate stating his ownership of the sold asset after paying the full amount of the sale.
• Please note that if the winning Bidder fails to pay the sale proceeds within the specified period, the auction will be canceled, and the item will be sold at his expense. The winning Bidder shall also be obligated to pay any difference in price, if applicable.
• The acceptance or rejection of any bid submitted by bidders, as well as any extension of the auction period, is solely at the discretion of the Ministry of Energy and Infrastructure, and the auction shall proceed with the highest bidder.