Emirates NBD offers funding options for Ritchie Bros. auction

As per the deal, buyers will benefit from an expanded range of heavy equipment and machinery eligible for financing by Emirates NBD bank

  
A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar

Ritchie Bros, a heavy equipment auction expert dealing in purchase and sale of trucks and other assets, has reached an agreement with top bank Emirates NBD to offer a broader range of financing options for the customers based in the UAE.

As per the deal, buyers will benefit from an expanded range of heavy equipment and machinery eligible for financing by Emirates NBD bank at the next Ritchie Bros. Online Timed Auction thanks to an industry-leading partnership between the two companies.

Starting September 28, 2021, with lots closing at staggered times until close on September 29, auction inventory ranges from wheel loaders to massive all terrain cranes, from utility vehicles to graders, as well as heavy goods trucks and many other types of machinery, said the statement from the top auctioneer.

Some of the top items of equipment and machinery available at the Dubai auction include:
•2016 Caterpillar D9R Crawler Tractor
•2016 Zoomlion 200 Ton 12x8x10 All Terrain Crane
•2015 Komatsu HD785-7 Rock Truck

Unused Hyundai excavators, Case vibratory rollers, and Sinotruck boom tracks are also available together with s selection of scooters and passenger cars to complete the line-up.

Overall, 1,170+ items have been consigned and are sitting in Ritchie Bros.’ Dubai Jebel Ali yard and also located in Kuwait as a result of an on-going partnership with Q8 Auctions.

Ritchie Bros said thanks to this deal, interested parties based in the UAE can contact its team of territory managers in advance for details of UAE-based auction items eligible for financing and also for referrals to obtain banking eligibility criteria.

The company said it remains committed to introducing new and innovative options to help eligible UAE-based customers manage their current and future fleet management needs without the need for full, upfront investment.

The Emirates NBD financing facility is a big part of this mission and is delivering benefits for many Ritchie Bros. clients based in the emirates, said a company spokesman.

"Bidding has already opened and registering for the auction is free. Placing bids in Ritchie Bros.’ online timed auction is easy, and the auction system provides real-time bidding updates with sms or email notifications," he stated.

"An added advantage is bidders can set a maximum bid price and let the system bid automatically on their behalf. Since it is an unreserved auction, this means all items are sold to the highest bidder, without minimum bids or reserve prices," he added.-TradeArabia News Service

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