1. Eligibility to Participate:

The Live Public Auction is open to all members of the public who are 18 years of age or older. Registration is also open to foreign citizens. Participation is strictly prohibited for individuals below the age of 18.

2. Registration Process:

The registration process is as follows:

a. All prospective bidders must register online before the auction. This is done by clicking the “Registration” link above.

b. Users will need to create a valid user account and complete all of the mandatory fields on the form.

c. Users must provide accurate personal information and consent to the use of such information by the Asset Management Unit and the Ministry of Finance, National Planning and Trade.

d. Users must also upload a copy of a relevant form of identification as part of the registration process. This may be a scanned National ID card, valid Driver’s Licence or passport.

NOTE: prospective bidders will be required to produce their identification document on the day of the auction to allow the Asset Management Unit to verify it.

3. Auction Date and Time:

The Live Public Auction will be held at a date and time that will be announced by the Asset Management Unit in advance on the Ministry of Finance, National Planning and Trade’s official website (www.finance.gov.sc). Prospective bidders should check on the website for further announcements about Live Public Auctions.

4. Bidding Process:

The auction will be conducted live and in person. As noted above, prospective bidders must produce their identification documentation on the day of the auction for verification purposes and in order to be allowed to participate. All bidding will be conducted in Seychelles Rupees (SCR) and bids must meet, or exceed, the minimum amount indicated by the Auctioneer for each item.

5. Sale Terms:

All items are sold on an “as is” basis, meaning they are sold to the highest bidder regardless of condition. As a result, buyers should conduct their own inspections of items. The Asset Management Unit, the Ministry of Finance, National Planning and Trade and the Auctioneer accept no liability whatsoever as to the condition or repair of items offered for sale at Live Public Auctions, and make no warranties in relation to the condition of any such items. Once purchased, items are non-refundable and non-returnable. The highest bidder will be offered the item, subject to the approval of the Auctioneer. However, the Auctioneer reserves the right to reject any bid, including the highest bid, without obligation to provide a reason.

6. Payment and Collection:

Successful bidders will be required to make payment via bank transfer on the day of the Live Public Auction. No email notification will be sent to bidders by the Asset Management Unit or the Auctioneer regarding payment. Payment details will be provided at the auction venue.

In order to confirm payment prior to collection, the payment has to originate from the successful bidder’s bank accounts.

Where a successful bidder fails to make payment within the timeframe specified by the Auctioneer or the Asset Management Unit, the Asset Management Unit will consider the sale to be null and void and may take the necessary steps to offer the item to the under-bidder before considering reallocating the item for a future sale.

Upon payment confirmation, successful bidders must produce a receipt to the Asset Management Unit to proceed to collect the item at a time and place that will be notified on the day of the auction or otherwise agreed between the successful bidder and the Asset Management Unit or the Auctioneer. Successful bidders must present their identification documentation at the time of collection. If the successful bidder cannot collect the item personally, they may nominate another person in writing. The nominee must present their own ID, together with the letter of nomination from the successful bidder and a copy of the successful bidder’s ID.

7. Force Majeure:

In the event of force majeure, including, but not limited to, natural disasters, accidents, or system outages, the Auctioneer reserves the right to annul the bidding process without liability. Bidders will be informed if this occurs.

8. Incorrect Information:

If a bidder provides incorrect information during the registration process or in the course of a Live Public Auction, and this is discovered by the Asset Management Unit or the Auctioneer, the Auctioneer reserves the right to disqualify any bids made by that bidder immediately, and the Asset Management Unit may, at its sole discretion, disqualify the bidder from future Live Public Auctions.