GVI DPP Auction Rules FORM-DPP-TRAN-001-2024 Page ~ 1 GOVERNMENT OF THE VIRGIN ISLANDS DEPARTMENT OF PROPERTY AND PROCUREMENT AUCTION RULES General Rules 1. All property is being offered for sale by the Government of the Virgin Islands, Department of Property and Procurement (DPP) are “as is” and “where is.” 2. All bidders are invited to assess the property and examine its condition for three (3) business days prior to the Auction. 3. All bidders are required to check-in at the DPP’s premises before inspecting the property or removing the property after an award is made. Bidders must comply with all DPP’s rules and policies during the visit. 4. All bidders must register within the three (3) business days prior to the Auction and pay the non- refundable registration fee as follows.  Pre-registration fees are $150.00 and will be collected at DPP’s offices from 8:00am to 3:00pm at DPP from Wednesday to Friday prior to the Auction. Online pre-registration will end at midnight on the Friday prior to the auction. Payments will be accepted by certified or business check, cash, credit card, or debit card.  Day-of-Auction registration fees are $200.00 and will be collected from 9:00am to 9:45am on the day of the Auction. The only payment method for registration on the day of the auction is cash.  The DPP encourages Pre-registration via DPP’s online payment portal at https://dpp.vi.gov/pay-online/. 5. All bidders shall complete the Auction Registration Card, https://dpp.vi.gov/divisions/transportation/, which requires the bidder’s details such as name, phone number, address, and e-mail and submission of government-issued identification for example a current passport or driver’s license number. Each registered bidder will be assigned a registration number and paddle number to utilize during the Auction.  All Bidders acknowledge by signing the Auction Registration Card that they have full and complete understanding of the terms and conditions of the Vehicle Auction Contract at https://dpp.vi.gov/divisions/transportation/ and that the signature of each Bidder binds him/her to the terms and conditions stated therein. 6. Accepted forms of payment for a purchase at the Auction or after the Auction include cash, certified checks, debit cards, or credit cards. Payments of the purchase price via DPP’s online payment portal https://dpp.vi.gov/pay-online/ are encouraged. 7. Each registered Bidder is allowed only one (1) guest at the Auction. 8. No person under the age of 18 is permitted at the Auction site. GVI DPP Auction Rules FORM-DPP-TRAN-001-2024 Page ~ 2 9. No registered Bidder is allowed to purchase more than two (2) vehicles. 10. The Auctioneer’s decision is final in the event of a dispute over bid amounts, item numbers and/or paddle numbers. 11. Awards will be made to the highest responsive Bidder. 12. There will be no swapping vehicles. A bid on a particular vehicle is an offer to purchase that vehicle. It cannot be substituted for any other vehicle. 13. No bids shall be considered after the closing of the Auction by the Auctioneer. 14. Bidders must pay at least twenty-five percent (25%) of the award price on the day of the Auction. The remaining balance of the award price is due to DPP by close of business on the third (3rd) business day after the Auction. There shall be no refund of the 25% award price if a Bidder fails to pay the remaining balance. The Bidder will be considered in default and forfeits all monies previously paid and shall lose all right, title, and interest if the entire purchase price is not paid. 15. Once full payment is submitted, the Auction Contract of Sale and Award at https://dpp.vi.gov/divisions/transportation/will be executed. 16. No Bidder will be permitted to leave with any vehicle/property on the Auction date. Vehicles shall only be released to the successful bidder (or authorized representative) upon presentation of identification, and proof that title has been transferred to the bidder and/or insurance (if operational and can be driven off the lot). 17. Bidders must complete payment within three (3) business days after the Auction and retrieve the vehicle within five (5) business days after the Auction. Failure to comply subjects Bidders to default. 18. Storage fees will be assessed at the rate of $10.00 per day for each day the vehicle remains at the Auction site after the Bidder has satisfied all conditions to take possession of the property. The Auction Process 1. The DPP will begin the auction, introducing the auctioneer and outlining the general auction rules. 2. The auctioneer begins by offering each numbered vehicle separately. He/she shall initiate the bidding with the starting bid, encouraging participants to raise their bid incrementally. NO bids lower than the starting bid shall be offered. 3. Bidders must raise their paddle to accept the bid price, with each bid being higher than the last bid. 4. The paddle number identifies the bidder who is accepting the bid and is documented. 5. The process ends when there are no more bids, and the award is made to the highest responsive Bidder. 6. Once the auctioneer accepts the highest bid, the bidder cannot withdraw the bid. 7. Immediately following the close of bidding for each vehicle, the Bidder is directed to submit payment with a minimum payment of 25% due on the auction date. ****** Government Vehicle Auctions are governed by 31 V.I.C §157, 31 V.I.C §169, 20 V.I.C §746, and 31 V.I.C §242