PEOPLE'S BANK - Auction sale of Motor Vehicles and Machinery

Date & Time : Wednesday 20 September 2023, Commencing at 11.00 a.m
To Be Held At : People's Bank, Head Quarters Branch No.75, Sir Chittampalam A. Gardiner Mw, Colombo 02


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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. plus applicable taxes on the commission.
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: 011-2
334281, 011 2481613.

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.