The Terms set out in this document govern the basis on which any person, including a legal person, resident or non-resident of the United Arab Emirates (“UAE”) may participate as a Tenant (as defined below) in the online auctions conducted by AuctionsGlobal.
Definitions and Interpretation
In this document, unless the context otherwise requires, the following definitions and rules of interpretation shall apply:
- Singular words may be read as plurals, and plurals as singular words.
- A “person” includes an individual, as well as corporate body and all affiliations and representatives.
- Words of one gender include other genders.
- References to legislation are to that legislation as it may have been modified or re-enacted by the date of the Auction or the date of the Ejari Unified Tenancy Contract.
- References to the expressions “include”, “including” and “in particular” are to be read as if there were followed with the words “but without limitation”.
Agreement: means this agreement made on the date on which the terms are accepted electronically by the Tenant.
Auction: each auction conducted by AuctionsGlobal and/or its affiliates or subsidiaries. When these Terms mention “AuctionsGlobal”, “platform”, “we”, “us”, or “our”, they refer to ‘Charterhouse Auctions’, a sole establishment registered with the Economic Department in Dubai, UAE with licence number 961354 trading as ‘AuctionsGlobal’.
Auction Period: the period of time during which bidding is open for a Lot as published on the Lot page of the Website.
Authority: any of the Department of Economic Development (DED) in Dubai, the Real Estate Regulatory Authority (RERA), the Trustee Registration Office, and the Dubai Land Department (DLD) or any other relevant federal or local government authority in the UAE.
Bid: a bid submitted by the Tenant on AuctionsGlobal during the Auction Period.
Broker: HouseUp Real Estate L.L.C currently licensed by the relevant Dubai Authority to act in the capacity of a Real Estate Broker.
Tenant: a legal or natural person who participates in an Auction, and who agrees to lease the Lot; if two or more persons are jointly the Tenant, all obligations can be enforced against them jointly or against each of them separately.
Compliance Documentation: the documentation proving the Tenant’s identity, address, source of wealth, source of funds and profile, certified, notarised and/or apostilled as AuctionsGlobal may request and direct from time to time in compliance with applicable legislation, regulations or internal policy.
Exclusivity Period: From three (3) hours prior to the opening of the Auction Period until seventy-two (72) hours after the close of the Auction Period during which the Landlord confirms that AuctionsGlobal has exclusive rights over the lease of the Lot, as per the terms agreed between the Landlord and AuctionsGlobal.
Guide Price: a price published on the Lot page which provides prospective Tenants with an indication of the Landlord’s price expectations.
Instant Let Price: a price the Landlord is willing to accept for the property, before an Auction is commenced.
Lot: each separate Lot that the Landlord has agreed to lease (including contents, if any). Each Lot is assigned a unique reference number used to identify the Lot.
OTP: a one-time password, valid for one transaction that the Tenant will receive on an electronic device.
Party: either the Landlord or the Tenant, and collectively the “Parties”.
Personal Profile: A summary of personal information provided by the Registered Tenants which includes a Pre-Auction Offer.
Pre-Auction Offers: bids made by a registered Tenant any time before the Auction Period begins.
Registration: the registration process (which includes anti-money laundering checks) that all Tenants must complete to the satisfaction of AuctionsGlobal prior to being able to participate in any Auction.
Reserve Price: the price below which the Lot will not be leased. Once the Reserve Price has been met, the Lot will be leased to the highest bidder. The Landlord is within its rights should they so wish to accept an offer which does not meet the Reserve Price.
Ejari Unified Tenancy Contract: the written agreement, which AuctionsGlobal will produce, sign and date on behalf of the Tenant to confirm the terms and conditions on which the Tenant has agreed to purchase the Lot for which a bid has been accepted via the Auction. For the avoidance of doubt, the Ejari Unified Tenancy Contract may be used to confirm the terms and conditions applicable to a lease and purchase of a Lot either prior to or following the Auction. The Ejari Unified Tenancy Contract is denominated in United Arab Emirates Dirhams (AED) only.
Lease Price: the price for which a Lot is leased.
Landlord: the person leasing the Lot. If two or more persons are jointly the Landlord, their obligations can be enforced against them jointly or against each of them separately.
Terms: means the terms stated in this Agreement.
VAT: means Value Added Tax (currently 5%) or other tax of a similar nature applicable in the UAE.
Website: the AuctionsGlobal website at https://www.auctionsglobal.com together with any other website (including any third party website embedded in or otherwise accessible via the Website) which is used to allow prospective Landlords and Tenants to register and, subject to these Terms, participate in the Auctions.
Account Creation and Registration
Any individual or legal entity, whether a resident or non-resident of the UAE, who wishes to participate in an auction and purchase a Lot through the AuctionsGlobal platform may apply to be registered as a Tenant by completing and submitting the application form and providing all the required Compliance Documentation and the Bidder Security in the prescribed manner. AuctionsGlobal reserves the right to request for any additional Compliance Documentation that it may require as part of its verification process for onboarding a Tenant as a registered Tenant of the Website.
All Tenants must be at least 18 years of age or represented by a duly authorised individual who is at least 18 years of age and must have full legal capacity and authority to execute, deliver and perform these Terms.
A one-time Registration is sufficient for Tenants. There cannot be more than one account registered in the name of the same Tenant. Any attempt to create a duplicate account will result in the automatic removal of the duplicate account with immediate effect after verification and without any prior notification. A Tenant must register against each and every Lot they wish to bid for.
The Tenant hereby agrees to be solely responsible for all information provided to AuctionsGlobal, including but not limited to, personal information. Furthermore, the Tenant indemnifies AuctionsGlobal from all liability arising directly or indirectly from the information and content submitted to AuctionsGlobal and AuctionsGlobal shall not be held liable for any liability arising directly or indirectly from any information and content uploaded by the Landlord onto the AuctionsGlobal platform or Website. The Tenant is responsible to keep up to date with the latest terms of the Website.
The Tenant will receive all relevant notifications in relation to activities on AuctionsGlobal through the registered email and/or mobile number.
It is the responsibility of the Tenant to maintain the integrity of their communication devices. AuctionsGlobal will assume all instructions from the registered email and mobile number are from the Tenant. AuctionsGlobal shall not be responsible or liable if the Tenant does not receive notifications or OTP’s due to the following reasons:
- the mobile number / email address on file is incorrect or out of date, unless the same has been communicated to AuctionsGlobal.
- the Tenant’s service provider blocks AuctionsGlobal or the Tenant is otherwise unable to receive SMS’s.
- use of spam filters / receiving emails in spam folders.
Please note that in the aforementioned situations, the communications in question shall be deemed to have been provided to the Tenant effectively.
By agreeing to these terms and conditions you agree that your personal data may be transferred and stored outside of the United Arab Emirates. The security of your personal data is essential to us, and to protect your data, we take a number of important measures, including data encryption to meet applicable legal requirements
As part of the registration process the Tenant has the option to provide personal information that will form part of the Tenant’s Personal Profile. For Tenant’s personal profile to be considered the Tenant must provide a Pre-Auction Offer as part of the registration to bid. With the provision of the Pre-Auction Offer Auctions Global will prepare the Personal Profile with all available information shared by the Tenant during the registration process. The Tenant agrees that this personally identifiable information may be shared with the Landlord and the Landlord’s appointed broker.
Documentary Requirements – Tenant
The Tenant agrees to provide to the EJARI as affiliated with the DLD all documents required to transfer title in the Lot to the Tenant. The following comprises a summary of the documents that may be requested by the Landlord’s Broker, but is not meant to be an exhaustive list as the requirements of the EJARI as affiliated with the DLD change from time to time.
- Passport (and Emirates ID Card for UAE residents);
- Any valid ID card from the country where he/she is a citizen
Sole Proprietorship/Sole Establishment/Foundation
- Commercial license;
- Copy of the owner’s passport;
- Copy of the owners Emirates ID card;
- Passport of the individual authorised to represent the Company.
Limited Liability Company (LLC)
- Company Trade license / Certificate of Incorporation;
- Certificate of incumbency;
- Copy of Memorandum of Association;
- Resolution of Board of Directors/Shareholders and Power of Attorney;
- Passport of the individual representing the Company;
- Passport copies and ID copies of Shareholders.
Power of Attorney (POA)
- Original POA in format acceptable to the DLD;
- Passport copy of the grantor of the POA / owner of the Lot;
- Passport of the grantee under the POA;
- If the POA holder is company – Trade License copy, Passport and ID card of the individual representing the Company.
Note these requirements are indicative only and intended only to be used as a guide. The DLD requirements change from time to time and the Tenant shall be responsible for ensuring that he produces the documents required by the DLD in the format requested by the DLD prior to completion of the transaction.
Account Suspension or Termination
AuctionsGlobal has the right to suspend or terminate an account in its absolute discretion, including but not limited to the following instances:
- Use of fake or forged documents / information at the time of Registration,
- Use of AuctionsGlobal for illegal activities.
- Use of AuctionsGlobal for data-mining activities with an intention of commercial use for the same.
- Use of AuctionsGlobal for the purpose of price manipulations or shell bidding.
AuctionsGlobal bears no responsibility for any loss or damage arising out of the suspension or termination of a Tenant’s account.
If an Instant Lease Price is published, in the event that a Tenant offers this price to the Landlord, the Tenant and Landlord agrees to lease the Lot at this price and the Auction will be cancelled immediately, and the lease will move to completion as an instant lease. The Lot will be deemed to have been leased as if via the Auction process.
The Landlord can review all relevant Personal Profiles posted within the pre-auction period. The landlord may choose to accept any one of the relevant Personal Profiles during the Pre-Auction Period until the Exclusivity Period only.
In the event that the Landlord selects a Personal Profile and the accompanied Pre-Auction Offer, the Auction will be cancelled and the lease process will move to completion. The Lot will be deemed to have been leased as if via the Auction process. The Ejari Unified Tenancy Contract, populated, signed and distributed on behalf of the Landlord and Tenant.
During Auction Bids and Bidding Process
The Tenant agrees to lease the Lot if the Tenant’s bid is accepted by the Landlord, regardless of whether the Tenant’s bid equals or exceeds the Reserve Price.
Once AuctionsGlobal have accepted the Tenant’s winning Bid on the Landlord’s behalf, the Tenant agrees to be bound by that acceptance. By accepting these terms, the Tenant hereby authorises AuctionsGlobal to populate and sign the Ejari Unified Tenancy Contract on their behalf and the Tenant agrees to be bound by the terms set in the Ejari Unified Tenancy Contract.
On the acceptance of the winning bid by AuctionsGlobal on behalf of the Landlord the Tenant agrees that the Broker appointed by the Landlord to take the action necessary to complete the registration of the lease to the Tenant with the EJARI as affiliated with the Dubai Land Department in the prescribed manner.
In the event that the Landlord accepts the Tenant’s Bid, the lease moves to Completion.
In the event that the Tenant’s Bid is less than the Reserve Price, the Landlord may choose to accept or decline the bid; should the Landlord accept, the lease moves to Completion.
In the event that the Landlord does not accept the highest Bid which is below the Reserve Price, the Tenant may offer the Landlord a price which is greater than the Tenant’s highest Bid,
The Landlord and Tenant may take legal action against whichever party defaults under the terms of the Ejari Unified Tenancy Contract, but the Tenant agrees that AuctionGlobal shall not be responsible for the default of either party and the Tenant shall take no action against AuctionsGlobal and shall indemnify AuctionGlobal against any claim, loss or damage arising out of any such default or action.
Taxes and duty charges: Tenants agree to pay (i) all leases, use, excise, VAT and any other taxes and fees which the Tenants are required to pay to any governmental authority (and, at the request of AuctionsGlobal, will provide the evidence of such payment) and (ii) any taxes payable or paid by AuctionsGlobal to any governmental authority that are attributable to the Parties participation on the platform.
Late Payment: If the Parties do not pay any fees, Commission and charges when due, a fee will be charged on all overdue balances. If the Parties dispute any part of an invoice, they must pay the amount that is not in dispute by the due date or be subject to late fees. AuctionsGlobal also reserves the right to withhold services and access to the platform while there are any outstanding fees and / or interest to avoid breaching this Agreement.
Legal Fees: The Tenant agrees to be liable for any costs incurred by AuctionsGlobal, including but not limited to any fees, expenses, advocate’s fees, court fees and any other associated costs which are necessary and incidental to the same, in addition to compensation, in the event of the Tenant’s breach of any of the Terms.
Liability: AuctionsGlobal has no liability for the consequences, including delay in or failure to provide the services, arising out of any failure by the Tenant or any agent of the Tenant, to promptly provide information or other material that AuctionsGlobal requires, or where the information or material provided is inaccurate or incomplete. The Tenant warrants that, where it provides information or material to AuctionsGlobal, AuctionsGlobal is entitled to rely on its accuracy. The liability of AuctionsGlobal in contract, tort (including negligence or breach of statutory duty), and misrepresentation or otherwise howsoever caused or arising out of or in connection with the provision of services or otherwise under this Agreement is not limited in the case of fraud or were its negligence causes death or personal injury, but otherwise: is excluded if caused by circumstances beyond AuctionsGlobal’s reasonable control and excludes indirect, special and consequential losses, including but not limited to loss of profits, missed opportunities, economic loss. If AuctionsGlobal is found liable, its liability is limited to the share of loss directly attributable to AuctionsGlobal notwithstanding the existence of other parties which may not pay any share of loss attributable to them. In any event, liability shall be limited to the aggregate of all professional fees paid to AuctionsGlobal by the Tenant over the course of a calendar year under this Agreement. AuctionsGlobal owes no duty of care and has no liability to anyone but the Tenant, unless specifically agreed in writing. No third party is intended to have any rights under this Agreement, unless agreed in writing. AuctionsGlobal has no liability for products or services that it reasonably needs to obtain from others in order to provide the service.
Communication: The Tenant will appoint, for the purpose of this Agreement, a representative who will act as liaison with AuctionsGlobal. AuctionsGlobal may use electronic communication and systems to provide services. A notice is valid if it is in writing and addressed to the last known address of the addressee and is to be treated as served(i) when delivered (if delivered by hand through a Notary Public in the UAE (if it is during normal business hours) otherwise, when business hours next commence); or (ii) two business days after posting (if posted by recorded delivery). Notice may not be given via email.
Confidential Material: Each Party must keep confidential all information and material of commercial value to the other Party of which it becomes aware. It may use it only to the extent reasonably required in providing the service. It may disclose it only if the other Party agrees or if it is required to do so by law, regulation, or other competent authority. Neither AuctionsGlobal nor the second Party may publicise or issue any specific information to the media about the service or its subject matter without the consent of the other. The aforementioned obligations continue even after termination of this Agreement.
Termination: Any Party may terminate the Agreement immediately by notice to the other if the other has not satisfactorily rectified a substantial or persistent breach of the Agreement within the reasonable period specified in an earlier notice to rectify it or is insolvent according to the laws of its country of incorporation. Termination of the Agreement does not affect any claims that arise before termination or the entitlement of AuctionsGlobal to its proper fees up to the date of termination or to be reimbursed for its expenses. The Agreement is considered to have started as of the date from when AuctionsGlobal began delivering services.
Force Majeure: If the performance of the obligations of the Parties is affected by an event of Force Majeure (including but not limited to civil disturbances, riots, strikes, act of God, war, government decisions or any other acts of similar nature which are unforeseen and beyond the control of either Party), then the Parties agree this to be a sufficient reason for delay and non-performance provided it is traceable to any of these causes.
Severability: The invalidity, illegality and unenforceability in whole or in part of any of the provisions of this Agreement shall not affect the validity, legality or enforceability of its remaining provisions which shall remain in full force and effect.
Waiver and Severance: Failure to enforce any of these Terms is not a waiver of any right or subsequently enforce that term or any other term of the Agreement. The invalidity, illegality, and unenforceability in whole or in part of any of the provisions of this Agreement shall not affect the validity, legality or enforceability of its remaining provisions which shall remain in full force and effect.
Responsibility: AuctionsGlobal is not a law firm, a tax consulting firm, a financial services firm, a real estate brokerage or a valuation company, and therefore the Tenant cannot rely on AuctionsGlobal for these services and should obtain independent advice on these matters
Governing Law: This Agreement shall be governed by, construed and interpreted in accordance with the laws in force in the Emirate of Dubai, and the federal laws of the United Arab Emirates.
Miscellaneous: No amendment to these Terms shall be valid unless executed in writing and signed by both Parties hereto. Neither Party hereto may assign its interest hereunder without the prior written consent of the other Party. Words importing the singular number include the plural and vice versa. The obligations of each Party shall be binding upon its heirs and assigns. The Parties hereby agree to undertake all such steps as may be necessary to give effect to the provisions contained in these Terms.