Approved the Rules for Customs Sale of Confiscated Goods

The Cabinet of Ministers approved on October 19 the sales rules referred to the value of goods and vehicles through customs auctions. The organizer of the auction and the seller is the Association Azerterminalcomplex of the State Customs Committee (SCC).

The initial cost of the goods offered for auction is determined based on market value. Bidders are charged 0.5% of the size of the initial cost. At the auction prohibited is the participation of people somehow associated with SCC.

The auction committee is composed of five persons, including a representative of the Ministry of Finance. Auction is reported in the media on the SCC website 30 days prior to the meeting. Applicants will be entitled to participate in the auction, the opportunity to get acquainted with the products offered for sale. The total price of the goods purchased at an auction shall be paid within five days.

If the bid is not submitted through application, the initial cost is reduced in stages by 10%, 25% and 50%. In the case of reduction of the starting value of the goods (excluding jewelry and precious stones) by a half, property is to be re-evaluated.

The proceeds from the sale of the property are transferred to an off-budget fund for the development of SCC. Funds from the sale of property, from which the person has waived in favor of the state, are paid to the state budget. - 08B-