General Terms and Conditions

Vandem Traders Inc. March 23, 2016 Auctions

Auction Terms Highlights

  • All Vandem Traders Auction terms and conditions apply to this auction. Please read the entire terms of auction below
  • All Purchased Items must be removed from the auction yard within 7 days or storage fees apply
  • There is non-negotiable 3% to 7% Buyers Premium (depending on the value of the Lot) applicable to all lots in this sale.
  • All Items purchased through will also incur a 2.5% Internet bidding charge

  1. You must be a registered bidder to participate in this auction. A “bid number” can be obtained at the registration desk upon payment of a refundable cash bid deposit of Twenty Thousand Pesos (P20, 000.00). Bidders must be registered at all times to get a bid. Bidders without a bid card will not be entertained by the Auctioneer.
  2. Bidder must present a valid ID at the auction venue for purposes of identification. Any of the following must be presented: Driver’s license; SSS ID; GSIS ID; Company ID; Valid Passport; or any government issued I.D.
  3. Absentee Bid - A procedure that allows a bidder to participate in the auction process without being physically present. Generally, a bidder submits a written offer for an item prior to the auction. Absentee bids are usually handled under an established set of guidelines by the Auctioneer or auction company.
  4. The Auctioneer shall regulate the bidding. Bidders are advised to bid clearly by holding up their bid card should they agree with the amount requested by the Auctioneer. Alternatively, a bidder may shout a counter bid higher or lower than the requested bid while holding up their bid number which will only become valid when recognized by the Auctioneer.
  5. The highest bidder shall be the Purchaser upon the declaration of the auctioneer. If the price is lower than the reserve price, the auctioneer will get the highest bid and declare the items as “For Approval”. HMR Auction Services, Inc. will notify the highest bidder within two (2) days if said items will be awarded. The highest bidder is not allowed to refuse or withdraw their bid once awarded.
  6. The Auctioneer’s decision is final. He has the right to refuse any bid or withdraw any lot(s) from the sale without stating a reason thereof.
  7. The particulars, descriptions, measurements and quantities in the catalogue are for the purpose of identification of the lot and are NOT WARRANTIES in any way as to the correctness thereof.
  8. The auctioneer does not guarantee the information on the sticker of the items specifications and will not arbitrate base only on information.
  9. All lots are sold on an “AS IS WHERE IS” basis and are sold with all faults if any. HMR Auction Services, Inc. and VanDem Machinery Traders, Inc. accept no responsibility for any lot or lots sold upon the fall of the hammer. The winning bidder is not allowed to withdraw or cancel any lot(s) after being declared as the purchaser.
  10. There is non-negotiable 3% to 7% Buyers Premium (depending on the value of the Lot) applicable to all lots in this sale.
  11. Payments are strictly in the form of cash payable to VanDem Machinery Traders, Inc., or manager’s check made out to VanDem Machinery Traders, Inc., or direct deposit to the account:

    Bank: Security Bank

    Branch: Pasong Tamo Extension Branch

    Peso Account #: 0512-702149-001

    Account name: VanDem Machinery Traders Inc.

  12. All won lots shall be paid within five (5) business days following the completion of the auction; otherwise BID DEPOSIT will be forfeited. There shall be no partial payment for won lots.
  13. All paid lots must be pulled out within seven (7) business days after the auction. Collection of lot(s) will not be allowed without the presentation of a fully paid receipt to an authorized HMR/VanDem Auction staff that will assist in the pull out of the won lots/items. Bidders are required to bring their own labor and or equipment for proper handling. Loading of units by VanDem staff and equipment will be charged Php500.00 per lot.
  14. Paid lots not pulled out on the 10th day after the initial seven (7) days lead time shall be forfeit ted along with any monies paid toward the lot or lots in question unless prior arrangement have been made with the auctioneer. Forfeited items/lots are subject for reauctioning.
  15. The Auctioneer may disqualify any bidder for the following reasons:

    a) Bidder disturbs the auction proceedings or creates a commotion during the auction.

    b) Bidder was found to have misrepresented himself.

    c) Bidder was caught conniving with another bidder.

    d) Bidders with outstanding balance.