A bidder is required to register to bid on an auction. The following is required:
Complete and sign prescribed Registration Form;
Copy of Identity Document;
Proof of Address (not older than 3 months);
Where a bidder act on behalf of a legal entity, it is preferred that a person bids in his personal capacity and nominate the legal entity as buyer after acceptance of the bid on auction (Condition of Sale provide for this). Should a person how decide to bid on behalf of a legal entity, the FICA documents of the legal entity the documents as per list below.
Payment prior to the auction a refundable registration deposit of R 10 000 (Ten Thousand Rand). Should a person be an unsuccessful bidder, the registration deposit shall be refunded. Should a person be a successful bidder the deposit shall be used as part of the deposit payable in terms of the Rules of Auction & Conditions of Sale.
The Registration Form and banking details can be request from info@XpressSale.co.za.
FICA REQUIREMENTS for legal entities:
The above documents of the person acting on behalf of the legal entity and a written mandate authorizing the person to bid on behalf of the legal entity PLUS:
Companies:
[1] CM1.
[2] CM22.
Close Corporations:
[1] CK1;
[2] and, if applicable, CK2.
Trusts:
[1] Letters of Authority issued by the Master of a High Court;
[2] Trust Deed and all amendments thereto.
[3] Resolution to approve the purchase and loan application (if applicable) taken before the Rules of Auction & Conditions of Sale was signed. (This is not necessary where the purchase price will be paid in cash and all the trustees have signed the Agreement of Sale.)
