Invitation for Tender Tengeru Flowers Ltd

TENGERU FLOWERS LIMITED (UNDER RECEIVERSHIP)

NOTICE FOR SALE AND INVITATION FOR SEALED BIDS FOR SALE OF PROPERTIES SECOND ADVERTISEMENT

Under the power contained in the Debenture dated 25^th April 2006 registered via a certificate of registration of charge dated 25^th April 2006 made by Tengeru flowers limited(under receivership) hereinafter referred as to the company in favor of TIB Development Bank (hereafter refers as the bank ) and every other power enabling mw to do so I Frank Mwalongo the receiver and Manager duly appointed by the Bank on 21^st 2009 here by adversities for ale of the properties described in the table herein owned by the company charged in favor of the bank

1. the company borrowed from the government of the Tanzania through TIB Development bank Ltd as an agent for management of the facility
2. the company has since defaulted in its obligation to repay the loans its owes when they fell due and  bank on behalf of the government  and on its own rights has places the company under the receivership
3. as recovery measures and acting  under the power providers for in the debentures deed and law, the bank through me now desire to ale properties and apply the proceeds of the intended sale liquidate the company exposure to the government and bank
4. interested bidders are invited to submit for the purchase of all any of the named properties
5. bids in sealed envelopes clearly marked :BID FOR  THE PURCHASE OF PROPOERTIES TENGERI FLOWER LIMITED “ and  indicating the lot no including the offers for the  purchase of the properly with full address of the bidders should be submitted so as to reach the undersigned on the address below by 13^th November 2020 at 11:11 HRS so as to reach the undersigned on the address below by Friday  13^th November 2020 at or before 10:00 bid shall be  opened on the said 13^th  November  at the office mentioned  below bidders are invited to  attend  during the  event if they so wish
6. interested bidders can inspect the properties on working days from the date of the  publications from 9;00 – 3;00 PM , Kindly contact the receiver and manager to book visitation through the below mentioned mobile or telephone number or email
7. the successful bidders or otherwise shall be announced within maximum of 14 working days
8. bidders are required to submit their physical address, email address and phone number a communications sent to bidders  either to the physical address or email submitted shall be sufficient communication
9. the successful bidders will have 60 days to  within  which to affect payment failure to pay  the agreed price within  the prescribe time the offer shall be revoked forthwith  and the receiver and manager shall forfeit any down payment  and any other payment (if any which shall have already been made
10. in the event the successful bidders fails to effect payments as prescribe the receiver manager reserves the right to offer property to the next highest or preferred bidders who meet the conditions or cancel the sale process altogether
11. the receiver and manager and the bank shall not be bound to accept the highest at any bid
12. bidders are advised to  conduct their independent valuation and inspect of the properties as all the information’s contained in this advertisement is free from liability
13. all bids should be addressed to the address below

Frank Mwalongo,
Receiver and Manager – Tengeru Flowers Limited,
Apex Attorneys Advocates,
Tancot House 3rd Floor,
Pamba Road/Sokoine Drive
Kivukon,
P.O. BOX 34674,
Dar es Salaam,
Tel +255 22 21 52 803
Mob 0756 625 802
[email protected]/[email protected]