المملكة: To control auctions… “Enforcement” imposes complete neutrality on sales agents – urgent

The referral and filtering center “Enforcement” presented the Selling agent work via the “Reconnaissance” platform, in a regulatory step aimed at controlling the executive procedures for selling tasks, and precisely defining the professional and regulatory obligations of the selling agent, in a way that enhances the efficiency and quality of the implementation of auction work, and establishes justice in the management of liquidation work according to disciplined and reliable technical and regulatory foundations.

The guide comes within the framework of the center’s endeavor to unify practices, raise the level of governance and transparency, and ensure clarity of the relationship between the center and selling agents, in a way that achieves the protection of the rights of all relevant parties, It limits Systemic and procedural risks associated with sales and liquidation activities.

Rules for specific materials

The guide confirmed, in its third article, that the selling agent is considered to be assigned by the Center to carry out sales activities within the scope of the assignment specified for him, and he exercises his duties on his own behalf, and is not considered a commissioner, representative, or agent of the Centre, and his actions do not entail any obligation on the Center towards others.
The fourth article stressed that the powers of the selling agent are restricted to the scope of the assignment. And his duties, and he may not go beyond them in any way, and if there is ambiguity or ambiguity in any part of the attribution, he may not begin work until after Return to the Center.

Article Five stated that all the work of the selling agent is subject to the Center’s supervision and control, and the Center has the right to take the necessary supervisory measures to ensure its commitment to its duties, hold it accountable, and take the legally prescribed penalties when any transgression or negligence occurs, whether intentionally or as a result of negligence.

Article Six prohibits the selling agent from acknowledging any right that creates an obligation for the Center or submitting pledges on behalf of him or the owner. The original, holding the agent alone responsible for the legal consequences resulting from any transgression.

Article Seven obligates the selling agent to commence work immediately upon accepting the attribution, while bearing responsibility for any delay or negligence in implementation or in submitting documents within the specified periods, while Article Eight obligates adherence to all relevant laws, regulations, manuals and instructions, holding the agent fully responsible for any violation or breach.

Acting in cases where no provision is made

Article Nine stipulates It is necessary for the selling agent to return to the center in cases where there is no special provision in the manual or the relevant regulations before taking any action, unless the public interest requires immediate action, stressing that adherence to the manual is not sufficient to negate responsibility if the regulatory rules require additional measures.

Article 10 affirms the necessity of exercising the care of a careful person in performing tasks, achieving the interest and happiness of the asset being sold, while prohibiting any behavior that harms the asset or wastes its rights.

/>Article Eleven gave the Center the right to terminate the assignment or transfer it to another agent at any time before completion of implementation, without resulting in any financial obligation, while Article Twelve clarified that the completion of the task or cancellation of the assignment does not relieve the agent of the work or documents in his charge, and his obligations remain in place until all requirements are delivered.

Commitment to neutrality and use of the Center’s name

Article Thirteen stressed the commitment of the selling agent to complete neutrality, and prohibited any behavior that violates his independence or affects the fairness of the procedures. Sale, including entering into any direct or indirect dealings with potential buyers in the event of a conflict of interest, obliging him to notify the center immediately, and to disclose in writing any personal interest or potential connection before commencing implementation, considering failure to disclose a violation that requires cancellation of the attribution.

Article Fourteen prohibited the selling agent from using the center’s name, capacity, logo, or any document issued by the mission after the completion of the attribution, while Article Fifteen prohibited marketing any asset previously sold at auction under supervision. The Center for a period of one year, except with written approval, and considered doing so without approval a conflict of interest. Article Sixteen affirmed that performing previous tasks does not give priority in subsequent assignments, and that each assignment is considered independent. itself. Article Eighteen prohibits the authorization of any third party except with written approval, while the responsibility of the agent remains in place.

Article Nineteen obligates the use of approved official channels in all correspondence and reports, and prohibits any communication through unapproved means, holding the agent fully responsible for any action outside it.

Responding to the Center’s inquiries and requests

Article Twenty requires responding to the Center’s inquiries and requests within the specified periods, while Article One obliges The Twenty-Fourth Article shall notify the Center as soon as any event that affects the sale procedures arises, along with submitting a detailed report.

The Twenty-Two-Second Article allows the Center to reopen any task after its closure or direct the agent to complete specific procedures without additional financial commitment, while the Twenty-Third Article prohibits the reuse of marketing materials or auction documents outside the scope of attribution without written approval. The condition of the asset, the inventory list, the area, the type of asset, its rental status, occupancy status, regulatory licenses, and existing judicial disputes, holding the selling agent legally and financially responsible for any error or deficiency that may lead to the sale being invalid or re-offering.

Article Fifty-Five required that marketing materials be approved by the Center before they are published, stressing that the Center’s approval does not relieve the agent from responsibility.

And Article Fifty-Six obligated to include Evidence that the sale is carried out in accordance with the approved rules and regulations, that participation in the auction constitutes acceptance of all conditions, and that the sale is made based on the instrument regardless of the cadastral height or the actual area.

It prohibited the use of data that is not current or documented

And Article Fifty-Seven prohibited the use of images or data that are not current or undocumented, while Article Fifty-Eight prohibited the provision of any opinion or price analysis to anyone other than the Center. Article Fifty-Nine also prohibited the sharing of sale data or award results with any party without written approval.

Article Sixty obligated the procedures to be halted immediately in the event that what was published conflicted with the award minutes, and to submit an urgent report, while Article Sixty-One stressed neutrality in the marketing offer and prohibited selective targeting. Article Sixty-Two prohibits marketing through unlicensed platforms.

Article Sixty-Three requires disclosure of whether the asset is part of joint ownership or an overlapping project, or has a lease contract, or is occupied by others, with a precise statement of the limits of disposal and ownership.

Article Sixty-Four obligates stopping all procedures and submitting a detailed report when suspicions of fraud, collusion, fraud or forgery appear, or the presence of errors, conflicting information, or double attribution, while the agent’s responsibility remains unchanged. statute of limitations.

Verifying the authenticity of documents

Article sixty-five stressed the necessity of verifying the authenticity of the documents of participants in the auction, not accepting any expired or questionable document, and restricting awarding to those who have a valid power of attorney before awarding.

Article sixty-six obligated to enable registered bidders to inspect the original and organize inspections fairly.

Article sixty-seven stipulated that requests to conceal information be submitted to the center without acting alone, Article sixty-eight prohibited dealing with any asset without official attribution, while Article sixty-nine emphasized adherence to the approved sales plan and not amending it without approval.

Article seventy prohibited holding the Center any obligation or responsibility for the errors of the agent or its employees, and prohibited any indications suggesting that the Center was obligated. Article Seventy-One stressed the necessity of stopping the procedures and not adopting any document that is not original or unverifiable, with comments being submitted to the Center immediately.

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