INVITATION TO PARTICIPATE IN THE AUCTION OF VEHICLES

1. BACKGROUND

Equity Bank Rwanda Plc is the second-largest licensed financial services institution in Rwanda and a member of Equity Group Holdings, the second-largest financial services company in the East African Community, renowned for its financial inclusion. Equity Bank Rwanda Plc has recently amalgamated with Cogebanque Plc. The bank is auctioning some of its Vehicles including models such as Toyota Pick-Ups (Vigo), VW Pick-Ups (Amarok), Toyota Hiace (Mini Vans), Land Cruiser V8, Hyundai Mini Van, Hyundai Santa Fe, and Nissan Patrol.

2. REQUEST FOR EXPRESSION OF INTEREST AND ELIGIBILITY OF PARTICIPANTS

Equity Bank Rwanda Plc, therefore, invites all interested Individuals or Companies to express their interests to compete for the purchase of these vehicles. Participation is open to all interested individuals and companies who fulfill the requirements.

3. SUBMISSION OF REQUESTS

Interested Individuals or Companies shall submit their requests in well-sealed envelopes addressed to the Managing Director of Equity Bank Rwanda Plc no later than August 20, 2024, at 4:00 PM Rwanda time, at the former headquarters of Cogebanque Plc on the second floor. Late Bids shall be rejected, and submission must be in person or through an authorized representative of the buyer.

4. BIDDING REQUIREMENTS

Interested parties must fulfill the following below:

Submission of well-structured and signed letter requesting participation in the auction, and mentioning the chosen vehicles/vehicles, addressed to the Managing Director of the bank Chosen vehicle(s), to indicate the proposed offer price, taxes inclusive

Copy of the National ID of the buyer or authorized representative

Bidders are allowed to bid for the vehicles, and if any single bidder happens to win for all the vehicles, he/she shall be allowed to take all of them.

5. OPENING OF BID ENVELOPES

The opening of envelopes for participants who complied with the terms will take place in the presence of all bidders, and the offer prices will be read aloud immediately. No announcements

for the winning bidders shall be communicated at this time. Announcements will be communicated to all bidders within one week following submission, based on the criteria in Clause 6 below.

6. BIDS ANALYSIS AND AWARD CRITERIA

The bank has set internal benchmarking market prices for each Vehicle which shall form basis to award a contract to the best bidder under the criteria 'The highest bidder takes it". If the offer is within the bank's internal pricing, the bidder will be awarded the vehicle; if the offer is below, the vehicle will not be awarded. Please note payable amount by the winning party shall be subjected to VAT of 18% as remittance to tax authorities. In this case, the bank will issue a tax EBM receipt for claim.

7. MODE OF PAYMENT BY THE WINNERS

a. The bidder who wins shall pay the full amount VAT Inclusive, by depositing a Certified Cheque on the Bank Account No: 000110013753 DIRECT PAYMENT CLEARING ACCOUNT FOR LEGAL RECOVERY

b. The bidder who wins shall deposit a caution fee of Frw 5 million for Vehicle(s) - (each), which shall be considered a top up on the full amount. Payment for the won vehicle must be made within three calendar days, failure of which shall lead to cancellation of the offer and returning of the caution fee to the buyer, within 5 calendar days.

c. The winning bidder shall sign a contract with the bank, and ownership transfer shall be based on the same contract.

8. TRANSFER OF OWNERSHIP OF THE PURCHASED VEHICLE(S)

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After full payment of the amount for the won Vehicles within the stipulated time, a contract will be drafted and signed by both parties-the buyer and the bank.

The bank shall facilitate the buyer to have the vehicle fully transferred in their real names Upon full payment of the amount, the vehicle(s) shall be taken immediately by the buyer from the parking yard.

The purchased Vehicle(s) shall be taken in their status, and the bank shall not take charge to repair the Vehicle(s) as value addition

The buyer shall be responsible for the insurance of the purchased vehicle(s)

The buyer shall be responsible for all costs related to the transfer of ownership which shall not exceed two weeks from date of full payment, and possession of the vehicle(s)

9. VEHICLE VISIT AND INQUIRIES

Participants are allowed to visit the vehicles in the parking yard at the Grand Pension Plazza, any time between 9:00 AM to 11:00 AM, starting from Tuesday to Friday - 13th August to 16th August 2024. The contact person for this visit can be reached at +250 788496218.

Done, Kigali, 10/08/2024

Adalbert RUTAISIRE

Director of Operations