1. The proponents interested in participating in a Public Assets auction must INSCRIBE at the Department of Legal Services of the Reverted Assets Managing Unit, in Clayton, Maritza Alabarca St, from the publication of the public act in the www.panamacompra.gob.pa web portal, until three (3) business days prior to the date of the public act. panamacompra.gob.pa, hasta tres (3) días hábiles antes de la fecha del acto público.
  2. The registration form must be presented in legible handwriting, in ink of the same color and not written in pencil.
  3. Together with the registration, the bidders must post a bond equivalent to 10% of the estimated value of the goods to be auctioned. Said bond may be constituted in cash, in State credit instruments, in bonds issued by insurance companies, or through bank guarantees, certified check or cashier's check payable to the MEF-Reverted Area / Office of the Comptroller General of the Republic.
  4. Only bidders who have registered within the term indicated in point 1 may participate on the day of the Public Auction, in bids and reprints, which will be held in the Public Assembly Hall of the Administrative Unit of Reverted Assets.
  5. At the end of the bidding and embossing period, it will be announced that the property will be awarded and the value of the last offer will be communicated, that is, there is no offer with a higher price.
  6. The sale price must be paid within 5 business days following the date of the public auction, after deduction of the deposit, if it is consigned in cash.
  7. Once the term indicated in the previous point has expired without the sale price of the property having been paid, the deposit posted and the right to adjudication will be lost. The amount of said guarantee will enter the National Treasury. In this case, the entity will proceed to award the second highest bidder, provided that the deposit is found and meets the established requirements.
  8. Inscriptions can be made individually or as a consortium or accidental association.
  9. The investment compliance bond is required for the sale of residential lots and plots of land. It shall be submitted until 5 works days after the execution of the adjudication resolution.
  10. Do not wait until the last day for inscription. If you need to make corrections to a document, you will not have enough time to do so.