Before you continue

Terms & Conditions

Please review and accept these terms to browse Rainoil Limited's asset auctions.

1. Sold As-Is, Where-Is

All assets listed on this platform are decommissioned or surplus property of Rainoil Limited, offered for sale strictly on an as-is, where-is basis. Rainoil makes no warranty, express or implied, as to the condition, fitness for purpose, or merchantability of any asset. Bidders are strongly encouraged to inspect an asset in person before bidding.

2. Eligibility & Sign-in

This platform is open to Rainoil Limited staff only. You must sign in with your Rainoil Microsoft work account before placing a bid. Accounts are personal and may not be shared; you are responsible for all activity under your account. Every bid is recorded and available to Internal Audit.

3. Bids Are Binding

Every bid you place is a binding offer to purchase the asset at that price. Bids cannot be withdrawn once submitted. Only bid amounts you are prepared and able to pay. The highest valid bid standing when an auction's countdown reaches zero wins that auction.

4. Payment & Collection

Winning bidders will be contacted by the Admin & Protocol Department using the details on their account to arrange payment and collection. This platform does not process payment online. Failure to complete payment and collection within the timeframe communicated by the Admin & Protocol Department may result in forfeiture of the winning bid and re-listing of the asset.

5. Rainoil's Rights

Rainoil Limited reserves the right to withdraw, reschedule, or cancel any listing at its discretion, and to reject any bid it reasonably believes to be fraudulent, made in bad faith, or in breach of these terms, without liability to the bidder.

6. Governing Law

These terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising from use of this platform or an auction conducted on it shall be subject to the exclusive jurisdiction of the Nigerian courts.

Rainoil
The process

How Rainoil Auctions works

Six clear steps, from approval of an asset to handover to the winning bidder.

1

Asset review & approval

When an asset is fully utilised and replaced, Admin & Protocol documents its condition and recommends it for disposal. Audit confirms the details, Finance reviews book value, and Executive Management gives final approval before it is listed.

2

Sign in with Microsoft

This platform is for Rainoil staff. Sign in with your work account — no separate password and no registration. Your name and email are recorded against every bid you place.

3

Inspect the listing

Each asset page has photos, a written description, key specifications and honest condition notes. All assets are sold as-is, where-is.

4

Place your bid

Enter an amount at or above the minimum next bid (current bid plus the increment). Bids are binding and are permanently recorded — only bid what you're prepared to pay.

5

Track the countdown

Every auction has a fixed start and end time shown as a live countdown. The highest bid standing when it reaches zero wins.

6

Win & complete payment

The winner is contacted by Admin & Protocol to arrange payment and collection. Internal Audit can review the full bid trail for any auction at any time.

Sold as-is

No warranty on condition or fitness.

Bids are binding

Cannot be withdrawn once placed.

Fully audited

Every bid is logged with time and bidder.

Staff only

Microsoft sign-in required to bid.

Common questions

Anything else? Contact Admin & Protocol.

Sign in to bidBrowse auctions
Who can bid?

Rainoil Limited staff signed in with their Microsoft work account. Guests can browse but cannot bid.

Can I withdraw a bid?

No. Every bid is binding and is recorded permanently for audit.

How is the winner decided?

The highest valid bid when the countdown ends, provided any reserve price has been met.

How do I pay and collect?

Admin & Protocol contacts the winning bidder using their account details. Payment is not taken on this site.

Can I inspect an asset first?

Yes — contact Admin & Protocol to arrange an inspection at Rainoil Head Office before you bid.