Agra Timed Auctions: Standard Operation Procedure (SOP)
Note: This SOP is subject to change without prior notice and is put in place to protect buyers who buy on the Agra Timed Auctions online platform in good faith
The Standard Operating Procedure (SOP) for Agra Timed Auctions should be read together with the terms and conditions as set out on this website. It applies to the process before and after a successful purchase/sale
- Seller will contact and indicate to Agra Auctions the intention to sell via the Agra Timed Auctions platform
- An Agent or representative of Agra Auctions will be assigned to facilitate the listing
- The seller will provide all necessary information applicable to the potential listing
- The seller will agree on the applicable terms and conditions
- Agra Timed Auctions will facilitate the listing, necessary advertisement of the auction and registration of bidders
- Agra Timed Auctions will inform the seller of auction progress
- Reserve prices should be met for a successful sale to take place. Whether the reserve price has been met or not will be displayed while bidding takes place
Successful auction and conclusion of transaction.
Auction closed and sale awarded to the highest bidder (considering reserve prices and conditions)
- Seller will be informed about the outcome of the auction and the highest bid will be communicated
- Buyer will be informed about the outcome of the auction and the bid will be confirmed
- Risk goes to buyer after confirmation of successful bid
- A sales agreement/transaction invoice will be drafted by Agra Timed Auctions and submitted to the buyer
- Buyer pays invoice amount directly to Agra Ltd and the invoice amount must be paid in full within 7 days of the auction date.
- Agra Agent/representative will facilitate/coordinate the transport arrangements once buyer payment has been confirmed
- Transport permits and the cost thereof is the responsibility of the buyer
- Insurance, if applicable, Buyers and Sellers must arrange for own insurance
- Before loading, all sellers must be in possession of a written authorization from Agra Timed Auctions to load
- The buyer is responsible for all transport costs involved with any purchase
- Agra Ltd acts as the trusted third party for payments to the sellers. All buyers will receive an invoice for successful lots bought on the Agra Timed Auctions platform to be paid into the Agra Ltd Account. No payments will be made to the seller before the “lot/(s)” were successfully delivered, to the buyer
Enquiries, queries and complaints will be directed to the assigned Agra Agent or representative.