Services Auctioneering Management

As an addition to its asset recovery service, ADRS has also established a network of auctioneers and created the ADRS Auctioneering Management System by which the selling of assets handed back in terms of the voluntary surrender process is managed.

We have set up the ADRS Auctioneering Management System in accordance with the requirements of the National Credit Act. It is designed to facilitate the entire process:

• The taking into stock of the goods surrendered by the auctioneer;
• Initial estimate of the expected proceeds;
• Compliance with section 127 of the National Credit Act;
• The selling of the goods on auction;
• The capturing of the sale proceeds;
• Management reporting to evaluate the value estimates and sale proceeds;
• The processing of payment from the auctioneer to ADRS and from ADRS to the client.

The auctioneers are managed by the ADRS management team and audits are performed on auctioneers in order to ensure that auctioneers comply with the law and the ADRS operational standards.

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