NOTICE OF PUBLIC AUCTION SALE
Pursuant to the provisions of Section 2607 in relation to Section 2601 of the TCCP and CMO 42-93 dated August 27, 1993 and CMO 10-2007 dated 28 November 2007, there will be Public Auction Sale through SEALED BIDDING, to be conducted by this Port on February 26, 2014 at 2:30 P.M., to be held at the Ground Floor, Conference room, Office of the District Collector MICP Building, North Harbor, Isla Puting Bato, Tondo, Manila, the herein-described articles in lot. Said article shall be available for viewing on February 24, 2014.
Lot No. 04-02-26-14
SI# 104-2012, 131-2012
“AS IS WHERE IS”
Floor Price: Php 4,856,600.00
3,469 bags x50 kgs./ bag Refined White Sugar
Condition: w/2014 Sugar Allocation Cont’r. No. KKTU7238863, KKTU7555050,
TRLU3817840, PRSU2328575, CAIU2717815,
Terms and Conditions of Public Auction:
Filing of Bidder’s Registration Form (with name, address and TIN) at latest two (2) days prior to the day of auction.
Payment of Php 2,000.00 Registration Fee (non-refundable).
Posting of duly receipted bond in cash or manager’s check in an amount equivalent to twenty percent (20%) of the floor price for each sale lot. The bond shall be refunded to the losing bidder after the closing of the auction. The bond shall not, however, be required when the floor price of a sale lot is less than ten thousand pesos (P 10,000.00).
Registration on the logbook for registered bidders indicating the name, address and TIN to be made with the Chief, ACDD one (1) day before the date of actual bidding until exactly an hour immediately preceding the time of actual bidding; thereafter registration is closed
Submission of all participants, whether natural or juridical, together with the Bidder’s Registration Form the latest certified true copy of Income and/or Business Tax Returns duly stamped and received by the Bureau of Internal Revenue (BIR) with a validated tax payment made thereon.
Auction to be conducted through the sealed bids shall be submitted and opened in public by the Auction Committee at a time, date and place specified in the Notice of Auction Sale. The highest bid shall be declared as the winner except when clustering occurs.
Clustering occurs when the difference between the highest and the second highest bid is within ten percent (10%) of the highest bid. In such cases, an open-bidding shall be conducted among the bidders of the particular sale lot who are present with the highest bid serving as the new floor price. Only bids raised by three percent (3%) more than the new floor price shall be considered and the highest bid in the open-bidding shall be declared as the winner. Otherwise, the highest sealed bid shall be declared as the winner.
Payment of highest bidder in cash or manager’s check at least fifty percent (50%) of the bid price on the spot upon announcement of the winning bid as duly certified to by the Auction Committee and the COA representative. The remaining balance of 50% shall be paid on the succeeding business day.
Payments with Cashier’s / Manager’s Check / Cash to the BOC/MICP shall bear the following:
a) Pay to the order of Land Bank of the Philippines-BOC MICP E.O.;
b) For credit of the Bureau of Customs;
c) For the account of : _____________;
A failed bidding shall be declared by the Auction Committee when any of the following circumstances occurs:
a) When there is only one sealed bid, the same shall not be opened;
b) When there are two sealed bids but there is only one bid higher than the floor price
c) When highest bidder fails to comply with any of the payments required in Section 9 hereof, said bidder shall be disqualified from participating further in the auction sale and when applicable, the negotiated sale thereof without prejudice to the forfeiture of the cash bond and any payment made and imposition of other sanctions as may be warranted.
When a failed bidding is declared, the sale lot shall be offered in a second auction to be held on the third business day after the first failed auction at the same floor price without need of further advertisement/posting. In case of perishable goods, the second auction shall be conducted on the first business day following the first failed bidding.
For further details, please contact Gerardo M. Macatangay Chief, Auction and Cargo Disposal Division, MICP, Tel. No. 245-41-01 loc. 2283 or 247-09-77.
M/GEN. ELMIR S. DE LA CRUZ (Ret.)
District Collector of Customs