Bid Express Terms and Conditions
1. I will submit a Bid Offer only for the vehicle/s that I am certain to purchase.
2. Bid offer will only be acknowledged upon receipt of the bid bond for each unit. PHP 5,000.00 (Offers below of P 999K and PHP 10,000.00(Offers P 1M up).
3. Units for sale are on an “as is where is basis”.
4. That I confirm that I have undertaken all necessary inspections of the units before the placement of the offer.
5. I acknowledge and confirm that South Asialink Finance Corp. does not provide any warranties, express or implied, including, but not limited to, any warranty against any and all physical defect/s which may be found, but are not otherwise stated herein, on the units after the sale.
6. That after having made a reasonable inspection of the physical condition, documentation, and historical background, I hereby confirm that I am fully satisfied and intend to purchase the unit/s.
7. That the subject units’ registration in the Registry of Deeds/LTO may not be updated.
8. I fully acknowledge and understand that in the event my offer for the unit/s is accepted and approved by South Asialink Finance Corp.; I am committed to purchasing the unit/s within the period (2 working day).
9. An extension for payment on an approved offer for a repossessed asset shall only be granted if the buyer can pay at least 50% of the total amount due in cash within the next working day following the offer’s approval. The extension is subject to the approval of both the ROPA Head and the COO/President. Should the buyer fail to pay the full amount for the repossessed asset within the extended period, a total amount of Php 10,000.00 shall be forfeited in favor of the company.
10. In case of failure to pay within the period allotted by South Asialink Finance Corp., it will result in revocation of my Bid Offer and the bid bond will be forfeited in favor of South Asialink Finance Corp. also; the company reserves the right to include me in the blacklisted buyers.
11. That South Asialink Finance Corp. will issue all documents pertinent to the cancellation of mortgage and transfer of ownership will be borne by me.
12. That South Asialink Finance Corp. reserves the right to reject any offers and accept, at its sole discretion, such offers as may be deemed most advantageous to the company. In submitting this Offer, I/We authorize South Asialink Finance Corporation to receive, use, process, store, make a profile, or share to any of its departments and affiliates within the Asialink Group, any third party, agent, or service provider who provides related services to South Asialink Finance Corporation, and any government agency/regulatory body/branch, which in turn is/are authorized to receive the information provided herein, without prior notice: (a) to facilitate and/or consummate the transaction herein; (b) for the protection of either party against fraud; (c) validation/verification of data indicated herein; (d) to enable South Asialink Finance Corporation to enforce its rights or perform its obligations by reason of any law or regulation, contract or order from any court or quasi-judicial and administrative offices; and (e) in the prosecution or defense of South Asialink Finance Corporation or its affiliates within the Asialink Group. By giving the foregoing authorities and for South Asialink.