MODE OF PAYMENT
The successful purchaser will have to pay the following amounts in cash at the fall of the hammer.

1. 10% (Ten Percent) of the Purchased Price.
2. 1% (One Percent) of the Sales Taxes payable to the Local Authority.
3. Auctioneer’s Commission of 2 ½ % (Two and a half percent only) on the purchased price.
4. Clerk’s & Crier’s Fee of Rs.1,500/=
5. Cost of sale and any other charges if any.
6. Stamp duty for the Certificate of Sale.

Balance 90% (Ninety percent) of the purchased Price will have to be paid within 30 days from the date of sale to the Deputy General th Manager-Recoveries, People’s Bank, Head office, 10 Floor,No.75, Sir Chittampalam A. Gardiner Mw, Colombo 02.Tel: 011-2334281, 0112481613.

If the said amount is not paid within 30 days as stipulated above, the Bank shall have the right to forfeit 10% of the purchase price already paid and resell the property