Vehicle number plates auction on Thursday

Manama, Apr. 11 (BNA): Mazad has announced that its first auction of private vehicle number plates will take place at 6:00 pm on Thursday, April 13, at the Isa Sports City Hall, adjacent to the Bahrain National Stadium. CEO Talal Aref Al Araifi of Mazad stated that registration for the auction will start on April 13 between 11:00 am and 5:00 pm at Isa Sports City Hall. He added that the auction will be open to the public, and that registered bidders are required to attend the auction hall with the following documents: · A valid CPR/Identity card. · A signed participation form which will be provided on the day of the auction. · Companies are entitled to register under their name given that they are represented by an authorised signatory. · If an agent is representing another person, an original and certified power of attorney is required. Al Araifi further explained the rules and regulations for bidders participating in the auction: · To bid on all auctioned numbers: A refundable blank check on behalf of the bidder and made out to Arabian Auction is required. · To participate in a bid valued at BD 500 or less: A payment of a refundable BD 1000 by cheque or credit card is required. He highlighted that bidders will be able to participate in an auction via phone. In order to participate in the auction via phone, bidders should either be physically present or send their agents for registration at Isa Sports City Hall D between 11h00 and 2:00 pm on April 13. He added that individuals participating on behalf of the bidders should provide a legal power of attorney document allowing them to register and bid on behalf of their clients. The locations listed below provide fast-track power of attorney legal services on Wednesday: · Notary Office – Gosi Commercial Complex (from 07h00 to 12h30) · Bahrain Investors Centre – Bahrain Financial Harbour (for companies only) (from 07h00 to 12h30) · At the auction location – Isa Sports City Hall D (Thursday only) He called on those wishing to participate to register and complete the necessary participation procedures as soon as possible. He added that, in line with the company’s commitment to transparency, there will be a set amount of seats for non- participating members of the public that will be made available on a first come first serve policy. He noted that, regardless of nationality, bidders registered to participate in the auction will be able to purchase an unlimited number of private vehicle number plates during the auction, on the condition that they complete the payment process within ten days from the date of the end of the auction. Upon completion of payment, the bidder will be provided with an official certificate of ownership and will have the freedom to use and/or assign the private number plate. He said immediately after the end of the auction, ownership receipts will be issued to the final bidder along with a certificate of registration for the private number plate from the General Directorate of Traffic. He added that Mazad will be overseeing the auction, with Arabian Auction managing and organising the event. He pointed out that the Bahraini private number plates being auctioned are from a new serial category that starts with 600000. According to him, the auction will be considered a major milestone and create an important shift in the domestic market that will further strengthen Bahrain's trade sector and support its regional status.