Bhutan Postal Corporation Limited would like to announce an open auction of the following vehicle through a public auction at Bhutan Post, Phuntsholing GPO, Phuntsholing on January 29, 2024. The Bidders are requested to inspect the vehicles prior to the auctions.
|Type of Vehicle
Terms and conditions
1. All the bidders shall pay Nu. 500.00 (Nu. Five Hundred) only as an entrance fee, which shall be non-refundable.
2. Each bidder will deposit an earnest money of Nu. 5,000.00 (Ngultrum Five Thousand) only, in cash with the financial representative of Bhutan Post latest by 10:00AM the day of auction to qualify the auction.
3. On the receipt of the earnest money the token card will be issued to qualified bidders. A bidder without a token shall not be allowed to bid and inspection of lots shall not be entertained on the auction day.
4. The earnest money of the bidder will be retained until the auction is completed as security for subsequent bids to be offered. On completion of the auction, the earnest money of the highest bidder 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.
5. The winning bidder(s) whose bids are accepted, shall deposit a spot payment of 25% in the form of cash of the auctioned value.
6. The balance of 75% needs to be deposited within 10 (Ten) working days from the day of the auction before 4 PM in the form of cash or demand draft in favor of the Regional Manager, Southern Region, Bhutan Post, Phuenthsoling.
7. Failure to pay within specified days, the accepted bid shall be canceled and the deposit of 25% of auction value shall be forfeited and the item(s) shall be offered to second highest bidders.
8. The winning bidder(s) whose bid is accepted by the auction committee shall lift the vehicles at his/her own cost within 10 (Ten) working days from the date of the auction upon full payment.
9. If the winning bidder(s) fails to deposit the final payment within a given timeline the demurrage/penalty charges of Nu. 500.00 shall be imposed.
10. The winning bidders shall complete the transfer ownership of the vehicle within 15(Fifteen) days from the date of issue of the ownership certificate.
11. The winning bidder(s) shall be levied a 1% transfer tax for vehicles sold through auction. The transfer tax shall be paid to the Road Safety and Transport Authority (RSTA) at the time to proceed with ownership transfer in addition to other taxes levied by RSTA. A copy of the owner transfer certificate shall be duly shared with the auction yard, Bhutan Post.
12. The auction committee reserves the right to accept the bid on the spot or at any subsequent date. In case of any dispute or problem arising with regard to the auction, the decision of the committee shall be final and binding without assigning any reason whatsoever.
13. The Bhutan Post shall assume that interested parties bidding for items have inspected the lots prior to the auction and that the bid offered is at their own liberty and judgment. No complaint shall be entertained at a later date.
14. All registered number plates of the BG vehicles sold through public auction shall be removed upon lifting by the winning bidder(s).
If further clarification is needed, please contact the Regional Manager, Phuntsholing General Post Office during working hours at 05-252242.