The auction will strictly abide by the Transaction Agreement set out by Ravenel Ltd. Prior to participating in the auction, bidders are advised to read and understand the following regulations:
1. Interested parties must complete the registration procedures with valid personal identi cations (i.e. Identi cation card, Passport, etc.). The completion of a registration form and the payment of a bidding deposit are required.
2. Bidding deposit in the amount of NT$ 600,000 or US$ 20,000.
3. The bidding deposit must be transferred to Ravenel's speci ed Bank account prior to 15th July 2020, details as follow:
Bene ciary's Bank: HSBC BANK (Taiwan) Limited.
SWIFT Code: HSBCTWTP
Bene ciary's Name: Ravenel Ltd.
Bene ciary's Account No: 001-234830-031 (NTD) or 001-234830-061 (USD)
Bene ciary Bank Address: 14F, No. 333, Sec 1, Keelung Road, Taipei 110, Taiwan
The bank should be noti ed that the transfer must be exactly the amount of bidding deposit. The payer will be responsible for any associated bank service fees.
4. After the 15th July 2020, parties interested in obtaining a paddle number must submit a cash security deposit during the Taipei previews (From 16th July to 18th July 2020). Acceptance will cease on 18th July by 12 pm (No other forms of payment will be accepted).
5. Telephone/written/ internet bids: In the event that the bidder chooses not to be present at venue on the day of the auction, the bidder may place a bid through means of a telephone, written or internet bid. A registration form must be completed and the bidding deposit transferred to Ravenel's speci ed Bank account before the 15th July 2020.
6. If the bidding deposit has been transferred prior to 15th July 2020, suitable proof or documentation is required. Once this information is veri ed, the payer will be contacted for details of his/her/its paddle number.
7. If the payment of the bidding deposit is made on the day of the auction, the payer may obtain his/her/its paddle number with valid personal identi cation (i.e. Identi cation Card, passport, etc.) for purposes of veri cation.
- 8. Return of the Security Deposit:
- (1) Completed Transaction:
- (a) For successful bidder with a bidding deposit made through wire transfer, the hammer price, buyer's premium and other expenses will be deducted from the bidding deposit, any remaining value will be returned to the successful bidder within 14 business days through means of a wire transfer.
- (b) For successful bidders with bidding deposit made by Cash, the hammer price, buyer's premium and other expenses will be deducted from the bidding deposit, any remaining value will be returned to the successful bidder on the same day after the auction for a cash refund.
- (c) If the Buyer, without any good cause, fails to pay any and all payment (including but without limitation, hammer price, buyer's Premium, and other expenses) of the Lot to the Company within 7 days after the auction date, the Buyer shall not claim for the return of the bidding deposit.
- (2) Nil Transaction: If the bidder is not able to purchase any lot and has no outstanding debts to the Company, the Company will return the bidding deposit to the bidder. For individuals with a bidding deposit transferred by wire, the bidding deposit will be returned within 14 business days through means of a wire transfer. Cash bidding deposit will be returned to individuals on the same day after the auction.
- (1) Completed Transaction:
9. Successful bidder must settle the payment (hammer price with buyer's premium and other expenses) prior to receiving the lot(s) on site. If the price exceeds the amount of the bidding deposit, the successful bidder may settle the outstanding balance through the following means:
- (1) A cash payment must not exceed NT$ 1,000,000.
- (2) A credit or China UnionPay payment: The credit payment must not exceed NT$ 1,000,000. The holder of the credit card or China UnionPay must be the successful bidder, credit payments from any title except for the successful bidder will not be permitted nor accepted.
10. Ravenel Ltd. retains full discretion to accept or decline a payment in the event of any unforeseen disputes or discrepancies.