1. General Terms

• This bidding platform is designed to facilitate the sale of the leasehold rights to a prime-location shop currently rented by the seller.
• This bidding process is for the transfer of a rental shop location, not ownership of the property itself. The successful bidder will assume the rental agreement and all associated responsibilities.
• By participating in the bidding process, bidders agree to abide by these terms and conditions.

2. Eligibility

• By placing a bid, each bidder agrees and guarantees that they are committed to completing the purchase and accepting all associated terms.
• Bidders must be financially capable of completing the purchase once placing a bid.
• The seller reserves the right to disqualify any bidder who does not meet these requirements.

3. Bidding Process

• The starting bid is OMR 70,000, and bids must increase by at least OMR 5,000.
• Bidding starts on February 11th at 00:01 and ends on February 20th at 23:59.
• All bids must be placed through the official bidding platform.
• Bidders will be registered on the platform and provided login details.
• The seller reserves the right to set a reserve price (minimum acceptable bid).

4. Binding Nature of Bids

• By placing a bid, the bidder agrees to a legally binding commitment to purchase the shop if they win the auction.
• Bidders cannot retract or modify their bids once submitted.
• Bidders can see competing offers, but identities will remain confidential until the auction ends.
• The highest bid at the closing time will be declared the winning bid and is legally binding.

5. Payment Terms

• The winning bidder must pay the full bid amount within three working days of the auction closing.
• Payment must be made via bank transfer or certified check.
• Failure to pay within the specified timeframe will result in forfeiture of the sale.

6. Transfer of Leasehold Rights

• The seller will facilitate the transfer of the leasehold rights to the winning bidder.
• The transfer will occur immediately upon payment confirmation, not exceeding seven working days.
• The physical handover of the shop will take place on April 15th, or as agreed by both parties.

7. Responsibilities of the Buyer

• The buyer assumes full responsibility for rent, utilities, and all obligations from the date of transfer.
• The buyer must comply with all terms of the existing lease agreement with the landlord.
• The buyer is responsible for any fees associated with the transfer.

8. Seller’s Responsibilities

• The seller guarantees that the shop is free from any encumbrances or legal disputes at the time of transfer.
• The seller will cooperate with the buyer to ensure a smooth transfer process.

9. Dispute Resolution

Any disputes arising from the bidding process or transfer of the shop will be resolved through mediation or arbitration in accordance with the laws of Oman.

10. Termination of Bidding Process

• The seller reserves the right to cancel or postpone the bidding process at any time, without liability to bidders.
• In case of cancellation, all monies will be refunded.

11. Governing Law

These terms and conditions are governed by the laws of Oman. Any legal actions must be filed in the courts of Oman.

12. Additional Rules

• Bidders must not engage in collusion or anti-competitive behavior.
• The seller reserves the right to reject any suspicious or fraudulent bid.
• All communication regarding the bidding process must be conducted through the official platform.

شروط وأحكام المزايدة على المحل