General Terms and Conditions for Vehicle Auctions
1. Eligibility to Participate
- Participants must be at least 18 years old.
- Registration may be required with a valid national ID, passport, or driving license.
- A registration fee or bidder's deposit may be required.
2. Auction Process
- Vehicles are sold on an "as-is, where-is" basis, with no warranty or guarantee.
- The highest bidder at the close of bidding is the winner, subject to reserve prices set by the seller.
- The auctioneer's decision is final in the event of a dispute.
3. Inspection of Vehicles
- Potential buyers are responsible for inspecting vehicles after bidding.
- Auction companies often organize inspection days, during which participants can assess the condition of the vehicles.
4. Payment Terms
- Payments are typically required in full within a specified period (e.g., 24-48 hours) after winning a bid.
- Accepted payment methods may include bank transfers, or certified checks.
- A buyer's premium or additional fees (e.g., administrative fees) may be added to the final price.
5. Ownership Transfer
- The auction company will facilitate the transfer of ownership documents after full payment.
- Buyers are responsible for registration and any applicable taxes or fees.
6. Liability and Risk
- Once the auction is concluded, all risks (e.g., damage, theft) transfer to the buyer.
- The auction company is not liable for any defects or issues with the vehicle after the sale.
7. Cancellations and Penalties
- Failure to pay within the stipulated period may result in forfeiture of the deposit and the vehicle being re-auctioned.
- Cancellation policies vary but often include penalties.
8. Dispute Resolution
- Any disputes arising from the auction process are subject to the auctioneer’s terms.
- Disputes may be resolved through arbitration or legal means under Ghanaian law.
9. Prohibited Conduct
- Collusion, bid rigging, or any fraudulent activity is strictly prohibited.
- Violations may result in disqualification and legal action.
10. Privacy Policy
- Participant information collected during registration will be handled in accordance with the company’s privacy policy.
