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CASINO University: (057) 351622, 351008, 351011 Private Bags, CASINO Fax: (057) 351221, 351432 www.maseno.ac.ke Mobile: 0722203411/0703591231 Email: po@maseno.co.keTENDER NO: MSU/OT/006/20222023CONTRACT
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How to fill out sale by public auction

01
Obtain necessary permits and licenses to hold a public auction.
02
Advertise the auction to attract potential buyers.
03
Set a date, time, and location for the auction.
04
Display the items up for auction for potential buyers to inspect.
05
Start the auction by announcing the rules and bidding procedures.
06
Accept bids from buyers and keep track of the highest bid for each item.
07
Close the bidding when there are no more bids and announce the winning bidder.
08
Collect payment from the winning bidder and arrange for the transfer of ownership.
09
Provide a receipt or proof of purchase to the winning bidder.

Who needs sale by public auction?

01
Individuals looking to sell valuable items quickly and efficiently.
02
Businesses liquidating assets or excess inventory.
03
Government agencies selling seized or surplus items.
04
Non-profit organizations fundraising through auctions.
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A sale by public auction is a method of selling goods or property where potential buyers bid against each other, and the item is awarded to the highest bidder.
Typically, sellers or auctioneers are required to file for a sale by public auction, especially when dealing with certain types of property that may require registration or disclosure.
To fill out a sale by public auction, you need to complete the required forms with details such as the auction date, description of the items, reserve price (if any), and information about the seller.
The purpose of a sale by public auction is to provide a transparent process for selling items to the highest bidder, often maximizing the sale price and allowing competitive bidding.
Information that must be reported includes the date of the auction, items being sold, seller details, bidding procedures, and any applicable terms and conditions.
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