Terms & Conditions For Salvage Auction

The conditions for bidding are as follows:

• Price quotation should be sent in a sealed envelope through courier directly to;

Mr. Syed Ali Hassan Zaidi

Address: 19-B, Lane 3, SMCHS, near Roomi Masjid,

Shahrah-e-Faisal, Karachi, Pakistan.

• Highest bidder will be selected and any upward revision in price will be offered to the highest bidder first.
• Inspection and bids will be accepted as per given timeline
• Vehicle inspection timings are 09:30 AM to 12:30 PM and 02:00 PM to 05:00 PM.
• Once a bid is accepted, Pay Order or Direct Transfer in the name of “TPL Insurance Ltd” should be made within seven days. Any objection after bid acceptance such as non-payment of tax, shortage of documents, change in model year, misplacement of parts etc. will not be accepted.
• Delivery of vehicle and documents shall be made once bidding amount is credited in TPL Insurance’s bank account.
• TPL Insurance reserves the right to exclude defaulting Bidders from future auctions in case of failure to take delivery or nonpayment of successful bid.
• TPL Insurance reserves the right to accept or reject any of the bid without assigning any reason.
• Verification from ACLC, Excise & Taxation and any other law enforcement agency shall be conducted by the bidder. The company will not provide any assistance in this regard.
• Transfer letter will be issued in the name of bidder only.
• The Buyer need to submit the pay order in the name of TPL Insurance Limited of rupees 25,000/= at the time of bid submission.
• No buyer will be entertaining if the pay order not receive with bid form.
• Account details will be provided by finance department, once result announced and buyer is restricted to submit the payment on targeted bank (Cash, IBFT).
• All the Chq and pay order should be sent to above mention TPL Insurance office physically, no one is allowed to deposit in Bank directly.
• If any chq or pay order directly submit into bank will not be acceptable.