The Assets Recovery Agency (ARA) has announced the public auction of forfeited items, scheduled to take place on Wednesday, June 18.
In a notice, the agency said the auction will be held in conjunction with M/s Keysan Auctioneers, and is part of its ongoing efforts to dispose of assets forfeited through legal proceedings.
According to ARA, the forfeited items will be open for public viewing between Tuesday, June 3, and Friday, June 13, on weekdays from 9 AM to 2:45 PM.
To participate in the auction, interested bidders must obtain a bidding number which begins with the payment of a non-refundable fee of Ksh1,000 for the auction catalogue.
The catalogues are available at ARA’s offices located on the 21st Floor of Old Mutual Towers, Nairobi.
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Proof of payment via bank deposit must be submitted by Friday, June 13 at 10 AM to receive an official receipt and to be issued a bidding number.
Furthermore, a refundable deposit of Ksh1,000,000 must be paid to the appointed auctioneer in order to bid for any motor vehicles or motorcycles.
ARA noted that no bidding will be permitted without a valid bidding number.
Additionally, motor vehicles and motorcycles will be sold subject to a reserve price and on an 'as-is-where-is' basis.
The successful bidder is required to pay 25 percent of the purchase price immediately at the fall of the hammer; the remaining 75 percent of the purchase price must be paid within 14 days to the designated account under the Criminal Assets Recovery Fund.
Purchased vehicles must be collected from their respective yards within 14 days after the auction; failure to do so will result in storage charges at prevailing rates, which must be paid by the successful bidder.
In cases where the highest bidder fails to meet the payment conditions, the second-highest bidder may be considered, provided their bid meets the reserve price.
The successful bidder shall bear all costs, duties, and taxes applicable to the transfer of ownership of the purchased items.
Unsuccessful bidders will be refunded their auction deposit upon presentation of the original receipt within 14 days after the auction.
ARA and the appointed auctioneer reserve the right to reject any or all bids before the final sale price is confirmed.
In addition, the agency reserves the right to cancel or annul the auction process or transfer of ownership without incurring any liability to bidders.
In such cases, the auction deposit shall be promptly refunded to the bidders.
Further, eligibility to participate in the auction will be governed by the provisions of the Public Procurement and Asset Disposal Act, 2015, and its corresponding regulations.
ARA also reserves the right to carry out due diligence on the highest and second-highest bidders.
