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 Bids cannot be withdrawn once submitted.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.
