Pioneer Auctions Sellers Terms & Conditions
1. The Vehicle undergoes a comprehensive technical inspection approved by the traffic Authority and delivered with the vehicle.
2. The value of the inspection report (Two Hundred and Ten Dirhams) is collected from the owner of the Vehicle.
3. Vehicle papers (possession) shall be delivered to the Auction Administration in addition to a copy of the identity of the Seller (ID), his residence visa and signature on the Vehicle Selling Authorization form before the auction.
4. The model of the Vehicle is specified as shown in the official papers.
5. The Vehicle is sold for the highest bid price at the time of auction sale.
6. Vehicle specifications and meter reading (kilometers/ miles) is the responsibility of the owner of the Vehicle.
7. In the event the buyer fails to pay the value of the Vehicle, the Security Deposit is retained for the sole benefit of Pioneer Auctions Organizing.
10. In case the buyer does not pay the value of the Vehicle, the Vehicle will be resold at a later auction upon the seller’s approval.
11. When the Vehicle is sold, the cheques will be delivered to the Seller within three working days from the date of receipt of the full amount from the buyer.
12. A preliminary evaluation of the Vehicle shall be calculated as a minimum reserve price of the Vehicle with the consent of the Seller.
13. Pioneer Auctions is not responsible for the condition of the Vehicle (external and mechanical condition) until receiving RTA inspection report.
14. If the Seller is registered with the VAT Authority (Federal Tax Authority), the VAT invoice should be submitted by the seller to the Buyer before the cheque is collected.
Pioneer Auctions Buyers Terms & Conditions
1. All exhibits are sold without any warranty, on their current condition and in place on the basis of the attached inspection report (cars, equipment, scraps, appliances, yachts, etc. ...) without bearing Pioneer Auctions Organizing any responsibility/liability of the exhibits being previously cancelled, drowned, with Gulf specifications, imported or whatever the reason is.
2. Security Deposit/Insurance policy: An amount of AED 5,000 in cash or AED 200,000 in cheque is to be collected/deposited as a minimum-Security Deposit (Pioneer’s internal policy) for each lot offered, payable by each buyer, refundable upon non-purchase.
3. Pioneer Auctions Organizing shall have the right to claim from the buyer to double the value of the cash Security Deposit to 20,000 (Twenty Thousand Dirhams) or more on the buyer if the purchases value exceeds 100,000 (One Hundred Thousand Dirhams).
4. Pioneer Auctions Organizing shall have the right to claim from the buyer to double the value of the Security Deposit cheque to AED2, 000,000 (Two Million Dirhams) or more if the purchase value exceeds 5,000,000 (Five Million Dirhams) and above.
5. Payment: The full amount shall be paid within Two business days from the date of auction or from the date of the sale approval. Payment shall be made by cash, credit card or certified cheque. In case of non-payment within the specified period, a penalty of AED 200 will be calculated for each day of delay, up to a maximum of Five working days, and Pioneer Auctions Organizing is entitled to the full and final retaining of the Security Deposit at the end of the period after the date of closing the auction and to re-auction the lot again without the need to inform the defaulting buyer.
6. In the event of the Buyer failing to pay the full amount in accordance with the terms and conditions, Pioneer Auctions Organizing shall retain the right to retain, totally and finally, the entire amount of the Security Deposit.
7. All charges are excluding VAT, the buyer is required to pay VAT in addition to the purchase amount/fees as required by applicable law in the United Arab Emirates as of 1 January 2018.
8. Transporting/Moving the purchases: The winning bidder shall move the purchased lot/lots from the site (and clean it completely if the need arises or if notified/informed by the auction organizers) within two business days or more starting from the date of sale after the payment of the amount in addition to the VAT and any other applicable fees which shall be at the expense of the buyer.
9. Pioneer Auctions Organizing is entitled to deliver the documents related to the sold lot within 10 working days from the date of full payment.
10. An amount of AED 350 to AED 500 will be charged for each lot sold and Pioneer Auctions Organizing is entitled to increase the value of the mentioned fees as necessary and appropriate.
11. The buyer must transfer the Vehicle ownership to their name within two days from the purchase date, Pioneer Auctions Organizing does not take any responsibility for any violations/fines against the first owner after this date (related to Vehicle auction) in addition of the buyer must collect VAT invoice from the Seller.
12. Pioneer Auctions Organizing is not liable for any material, external or mechanical damage arising on the sold lot after the full payment.
Buyers General Terms & Conditions
1.Pioneer Auctions Organizing shall have the right to use all lot images and audiences as part of marketing or as part of legal proceedings.
2. Pioneer Auctions Organizing shall be entitled to cancel the sale of the said lot without giving any reason and return any amount due to the buyer without bearing Pioneer Auctions Organizing any other expenses related to the lot.
3.Pioneer Auctions Organizing reserves the right to modify any of the above terms and conditions at any time without reference to anyone, by updating the terms and conditions contained on its website or any other place of the auction.
For more information please refer to the general terms and conditions of the auction or contact us directly.
