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MANAPPURAM FINANCE LTD AUCTION POLICY (As amended by the Board of Directors on 12th February 2016) I) INTRODUCTION The Reserve Bank of India vide circular DNS.CC.PD. No.266 / 03.10.01 / 201112 dated

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How to fill out auction policy

01

To fill out auction policy, follow these steps:

02

Start by gathering all the necessary information about the auction, such as the auction date, venue, and terms and conditions.

03

Clearly state the purpose of the auction policy, whether it is for buying or selling items.

04

Define the eligibility criteria for participants, including age restrictions or any other requirements.

05

Specify the registration process for participants, including the necessary documentation and fees.

06

Provide detailed guidelines on how the bidding process will work, including any proxy bidding options.

07

Clearly outline the payment methods accepted and the deadline for payment after winning a bid.

08

Explain the rules and responsibilities of both the auction organizer and the participants.

09

Clearly state the policy regarding any disputes or conflicts that may arise during the auction.

10

Include any additional information or legal disclaimers that may be relevant to the auction.

11

Review and proofread the auction policy before finalizing it.

12

Publish the auction policy on the relevant platforms or share it with the participants.

13

Keep a copy of the auction policy for future reference or updates.

Who needs auction policy?

01

Auction policy is needed by:

02

- Auction organizers who want to establish clear guidelines and rules for their auctions.

03

- Potential auction participants who need to understand the terms and conditions of the auction before participating.

04

- Legal advisors or professionals in the auction industry who require a reference document for their clients.

05

- Organizations or businesses involved in auction-related activities, such as auction houses or online auction platforms.

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What is auction policy?

Auction policy refers to the set of rules and guidelines governing the sale of goods or services to the highest bidder in a competitive bidding process.

Who is required to file auction policy?

Any organization or individual conducting auctions is required to file an auction policy.

How to fill out auction policy?

Auction policy can be filled out by providing information about the rules and procedures for conducting auctions, as well as any terms and conditions that bidders must adhere to.

What is the purpose of auction policy?

The purpose of auction policy is to ensure transparency, fairness, and compliance in the auction process.

What information must be reported on auction policy?

Information such as auction rules, bidding procedures, terms and conditions, bidder qualifications, and payment and delivery terms must be reported on auction policy.

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