VENDOR’S LETTER OF AUTHORITY
_________________ (name of auctioneer)
_________________________ (address of auctioneer)
LETTER TO AUTHORISE THE AUCTIONEER TO __________________
The above-mentioned property/item is to be offered for sale by public auction at _____ (time) on __/__/20__ at _________________________________ (address).
- I/we are agreeable to the reserve price, for the purpose of this auction, of Rs. ____________.
- The auctioneer is authorised, at his discretion, to refer any bid above Rs. _______________ to me/us for consideration, should the reserve price not be reached.
- In case the property is sold at auction, the auctioneer is authorised to sign all documents to form the contract, on behalf of the seller.
The auctioneer is not authorised in any regard other than the ones mentioned in this regard and will have to mandatorily consult with me/us and seek my/our approval if he wished to exercise his discretion or authority in any manner.
_____________________ (name of vendor)
_____________________ (name of auctioneer)