"postpones" - 1 õppematerjal

Investors Handbook. A Legal Guide to Business in Georgia

cable bank guarantee/down payment deposited by the winner shall be fully transferred to the relevant budget. 6. Besides the case mentioned in Paragraph 5 of this Article the amount of unconditional and irrevocable bank guarantee/prepayment shall also be transferred to the relevant budget if the participant of auction violates the auction participation rules or/and conditions stipulated by the legal act. 7. If State body/ legal person of public law postpones the auction or annuls the decision on realization of the State property via auction before the auction is conducted, the down payment shall be returned to participant. 8. If State property is not disposed at the auction, the decision on realization of this State owned property with modified starting price or/and with the conditions shall be considered as a repeated auction. At repeated auction the starting price of the State property may decrease by