ORC oversees the sale through public bidding of motor vehicles owned by the ORIX METRO Group of Companies.
The following rules are observed:
- Public bidding is held every Wednesday at 4:00 in the afternoon at the ORC offices located inside the “Bidding Venue” identified below.
- All sales shall be on an “as-is, where-is” basis. All bidders are encouraged to thoroughly inspect the unit prior to submitting their Bid Forms.
- Units for sale may be inspected by interested buyers at the “Inspection Site” where the unit is parked. The parking location of each unit is stated in the “Motor Vehicles Bidding List”. Test driving of units for sale is not allowed.
- Bid Forms must be submitted on or before 2:00 in the afternoon of the bidding day (Wednesday) through any of the following ways: (a) sealed envelope addressed to the Chairman of the Bidding Committee and delivered to the “Bidding Venue”; or (b) Email scanned copy to firstname.lastname@example.org with the words “CONFIDENTIAL - BID FORM” stated as the subject. Bid Forms received after the cut off will be rejected.
- All bid tenders must be accompanied by a refundable bid deposit amounting to Php5,000 per vehicle and Php3,500 per motor cycle. Payment must be deposited to ORC’s Metrobank Account No. 096-3-732-364375, and the deposit slip submitted together with the Bid Form on or before the bidding deadline. Bid deposit slips submitted after the 2:00 pm cut-off will be rejected.
- Bid winners should pay their corresponding bid amount within five (5) banking days from the date they are notified of their winning bid, otherwise the bid will be disqualified and the unit will be offered to the next highest bidder at the same winning bid amount. In this event, the bid deposit of the disqualified bidder shall be forfeited.
- Transfer of ownership documents (OR/CR) will be facilitated by ORC for the buyer for a fee of Php5,000 per vehicle and Php3,500 per motorcycle. The buyer does not have the option to transfer the OR/CR himself.
- Once the unit is sold, it shall be taken out of its parking location by the winning bidder. Delivery or shipping of the sold unit is the responsibility of the buyer and is not included in the sale transaction. It shall also be the winning bidder’s responsibility to cover the unit with insurance.
Buyers may also avail of the “BUY IT NOW” option, and avoid the hassle of going through the public bidding. The “BUY IT NOW” mechanics are as follows:
- A buyer may join the public bidding, or choose the “Buy It Now” price to purchase the vehicle immediately.
- Buyers may submit their “Buy It Now” application form at any time except on bidding dates.
- “Buy It Now” option is on a first-come first serve basis. The buyer who first deposits his full payment in ORC MBTC Account No. 096-3-732-364375 or OALP MBTC Account No. 301-330150816-7 shall be considered the winner. The time and date on the deposit slip shall be used as reference.
- Full payment must be made not less than 24 hours prior to the bidding cut-off time, otherwise the unit will still be included in the public bidding.
- “Buy It Now” price is non-negotiable.
For both the sale by public bidding and sale by “Buy-It-Now” option, ORC reserves the right to reject any or all bids or applications; or to accept any or all bids or applications waiving any or all defects contained therein.
ORIX Rental Corporation (ORC) offices