Tender Auction FAQ's

Got questions? Below you'll quickly find answers and general information about our procedures.

General FAQ's

It is a sale of units wherein interested buyers may purchase a unit via a tender of bid online, through e-mail, fax, or personally at the AIA Registration Counter.
Anyone with an approved registration via online or at the AIA registration counter and paid the required refundable deposit of PHP 250,000 is qualified to join the Tender Auction.
Anyone interested to join is welcome to inspect the unit/s for Tender Auction onsite on a first come, first served basis as entrance to the AIA Yard is currently limited in accordance with health and safety protocols.

Procedures

Fill out and submit the required registration form and documents online or at the Registration Counter.

Upon approval of registration, pay the refundable Bid Deposit of PHP 250,000 in Cash, Manager’s / Cashier’s Check / Personal Check (subject to clearing) or via Bank Deposit/Transfer to AIA’s account.

Use unique Bidder Number and password to view the Listing Catalog with the base/minimum price indicated for each unit at AIA’s website. Information will also be available at the Registration Counter upon successful registration.
Fill out and submit the required bid form via email, fax, online or at the registration counter within the bidding period.

A bid should be in Philippine Peso and must not be lower than the base/minimum price, in an increment of Ten Thousand Pesos (PHP 10,000.00).

Any bid/s submitted after the due date and time shall not be accepted under any circumstance.

Bid/s are considered non-transferable. However, bids can be changed to a higher amount for the same lot at any time within the duration of the bidding period.

Auction

A bidder offering the highest bid price shall be declared the winning bidder. Winning bidder shall not be entitled to possession of any of the unit(s) until the total purchase price has been fully paid. Award and sale shall be final.

For tie bids, the winning bidder will be determined by drawing lots.

If there are no bids higher than the base/minimum price, the unit shall not be sold.
The Tender Auction will run from October 13-17, 2020. All bidders shall be notified of the result of the tender auction on October 19, 2020.

Pull Out

Upon full payment of the awarded unit/s within the required period or receipt of credit advice from his/her financing company, the winning bidder can pull out the awarded unit/s from October 19-28, 2020.

Appointment prior Pullout is highly encouraged as first come, first served basis will be practiced in accordance with health and safety protocols.
Payment can be made in the form of CASH or MANAGER'S CHECK payable to ASIA INTERNATIONAL AUCTIONEERS, INC. accepted at the AIA Cashiers Office or thru deposit to our designated bank account (please ask AIA office for details). Full payment must be settled on or before the indicated deadline for payment. Personal check payments will be subject to three (3) Banking days clearing prior to withdrawal of any unit/item.
Units won in the auction are allowed to be pulled out only upon full payment of buyer's total purchases as appearing in the "Notice of Award" starting from the date of scheduled pull-out. During pullout, if the registered buyer will not be present and will only assign a representative (e.g. Driver/Mechanic) for the removal of units, we will require a valid ID and an accomplished Authorization to Pull-out Form before we release the documents and units. It is recommended for buyers to fill-out the Transfer of Ownership Form for the Deed of Sale at the registration counter upon winning or before leaving the auction site. If the owner indicated in the Transfer of Ownership / Deed of Sale is not available or present to sign the documents, we will require an SPA - Special Power of Attorney (also found at the back of the bid book) authorizing your representative to sign on your behalf and has to be duly notarized. Removal and pull out of units/items is buyers' responsibility. You may choose from our accredited trucking/shipping company or any preferred trucking/shipping company to bring your units/items to its/their intended final destination.
All units requiring registration have been duly registered with the LTO. You will just have to add the corresponding Vehicle Documentation Fee and Transfer of Ownership Fee.