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. 15% VAT as applicable.
3. 1% (One Percent) of the purchased price as sales taxes payable to the Local Authority.
4. Auctioneer’s Commission of 2 ½ % (Two and a half percent only) on the Purchased Price
plus Applicable Taxes on the Commission.
5. Cost of sale and any other charges if any.
6. Further 10% of the Purchased Price will have to be paid within 30 days from the auction
date.
7. Balance 80% of the Purchased Price to be settled within three months from the date of
sale to the Manager, Recovery Corporate Unit, Bank of Ceylon, 3rd Floor – BOC Head
Office, Colombo 01.
Title deeds and any other reference may be inspected from The Manager, Recovery Corporate
Unit, Bank of Ceylon, 3rd Floor – BOC Head Office, Colombo 01. Tel: 011 2386079
PLEASE NOTE that after the publication of Notice of resolution Rs. 1,000,000/- was deposited
to the suspense account creditors by velupllillai sivasithamparam Sivalingum.