MANILA: Philippines customs of bureau (BOC) will be auctioned around 21,460 sacks of smuggled rice worth over P22 million at the Port of Zamboanga.
The public auction for the 576,000 kilograms of rice will be held at the conference room of the Customs office in Zamboanga port on April 15, Wednesday, at 2:30 p.m.
The various shipments of rice to be auctioned off were seized in 2014.
The rice, consisting of 7,763 sacks of white rice, 3,072 sacks of well milled premium grade rice and 10,805 sacks of glutinous rice, are divided into 4 lots.
“As the rice shipment auctioned is still subject of on-going cases, proceeds from the auction will be held in trust by the BOC,” BOC Port of Zamboanga District Collector Jerry Loresco said.
The terms of the public auction include a non-refundable fee of P2,020, and the posting of duly receipted bond in cash or manager’s check equivalent to 20 percent of the floor price for each sale lot.
The highest or winning bidder must make an on-the-spot payment in cash or manager’s check of at least 50 percent of the bid price upon announcement of the winning bid as duly certified to by the Auction Committee and the Commission on Audit representative, with the remaining balance of 50 percent to be paid on the next business day.
Interested bidders may register their name, address, and TIN number on the ACDD logbook one day before the date of actual bidding or one hour before the actual bidding starts.
The seized goods will be available for viewing and pre-bid conference on April 13 and 14, 2015.
