INVITATION FOR PUBLIC AUCTION

Invitation for Public Auction

INVITATION FOR PUBLIC AUCTION

The Agdao Multipurpose Cooperative (AMPC) will conduct a PUBLIC AUCTION for the following ACQUIRED RESIDENTIAL PROPERTIES on October 01, 2018 at 3:00 PM at Head Office: AMPC Green Bldg., Corner N. Torres, and Urduja Street., Bo. Obrero, Davao City. A PRE-BID CONFERENCE will be conducted on the same date at 2:00PM.

GENERAL GUIDELINES

Properties shall be sold on an “AS IS WHERE IS” basis.
All interested buyers are encouraged to inspect the property/ies before tendering their offer/s. The list of the properties may be viewed at AMPC Website | Properties for Sale
Bidders are also encourageto visit our website, https://agdaocoop.comagdaocoop.com..Five (5)days prior the auction date, to check whether there are any erratum posted on the list of properties under the sealed public auction.
Sealed proposals should be received by the Asset and Disposal Committee (ADC) at the designated venue from 2:00PM to 3:00pm, or upon declaration of the closing of bid acceptance by the Committee on October 01, 2018; The proposals will be opened immediately in the presence of the committee and attending bidders. No proposals shall be accepted by the committee earlier or later than the scheduled date.
The following payment modes should be indicated in the bid
1. Cash – on which the approved purchase price shall be paid not later than thirty (30) calendar days from date of Notice of Approval Sale.
2. Long-Term Installment basis- on which payment shall be in the form of monthly installment based on the approved term, inclusive of interest, which may be up to three (3) years.
The bidder shall be present at the opening of bids.
The opening of Bids shall commence from 3;00PM or upon declaration by the Committee until completion.
The bidder who offers the highest bid shall be declared as the winner.
In case there are identified offers constituting the highest bids, the tie shall be resolved by considering the Mode of Payment. The priority in terms of mode of payment shall be as follows;
1. Cash
2. Short-Term Installment
3. Long-Term Installment

If there is still a tie after considering the mode of payment, it shall be resolved immediately through toss coin. However, in case there are more than two(2) highest bidders, the tie shall be resolved based on the time of registration of bids.

AMPC reserves the right to reject any or all bids, and waive any information therein without thereby incurring any liability to the affected bidder or bidders, to confiscate the bond if the bidder refuses to accept the award and accept such bids as may be considered advantageous to the AMPC. The articles referred must be bona fide stock of the bidder.