Online platform for judicial auctions in Riyadh to liquidate fixed and movable funds

Online platform for judicial auctions in Riyadh to liquidate fixed and movable funds

Online platform for judicial auctions in Riyadh to liquidate fixed and movable funds

Dr. Walid bin Muhammad al-Samani, Minister of Justice and Chairman of the Supreme Council of the Judiciary, issued directives to launch an online auction platform that enables beneficiaries to participate in judicial auctions electronically, without the need to attend in order to facilitate them, starting from the city of Riyadh, and to expand later to include all cities of the Kingdom.

The platform enables the courts to manage the process of liquidating fixed and movable funds, and putting them up for sale in a fully electronic manner, allowing all participants to enter and bid directly, in support of equal opportunities among members of society.

The online auction enhances the principle of transparency and integrity, raises the level of competition, in addition to the ability to verify the eligibility of the participants.

The steps for awarding the auction are carried out by the court and then the auction details are entered and announced by the sales agent, the eligibility of the bidders and the financial solvency in the system are verified and the bidders are registered electronically, after which the auction is launched between the parties until the award is awarded and a payment bill is issued from the system, in addition to sending a record The sale to the judge by the sales agent electronically, until approval of the minutes of sale and the emptying of the property are issued by the judge also electronically.