Executing Orders & Maximising Value for Mombasa Businesses

Finding reliable auctioneers for businesses Mombasa trusts is essential for executing court orders, realizing securities, or managing asset disposal. Swipe Recoveries Experts Ltd is a licensed auctioneering firm providing comprehensive services to banks, SACCOs, landlords, and corporations across Mombasa. Governed by The Auctioneers Act (No. 5 of 1996), our processes are transparent, legally compliant, and designed to achieve the highest possible value for attached or surplus assets. From proclamation and attachment to public auction and reporting, we manage the entire lifecycle with professionalism and dedication, ensuring your interests are secured in line with Kenyan law.

The Legal Mandate: The Auctioneers Act & Compliance

The practice of auctioneering in Kenya is a highly regulated profession, primarily governed by The Auctioneers Act (1996) and its accompanying Rules. This legislation is enforced by the Auctioneers Licensing Board, which ensures that all licensed auctioneers operate within a strict ethical and procedural code. For businesses in Mombasa, engaging a licensed firm like Swipe Recoveries Experts Ltd guarantees that all actions taken are legally sound and defensible in court.

The Act outlines the specific procedures for different types of instructions, such as executing court warrants of attachment and sale, realizing a security for a bank (e.g., repossessing a vehicle under a chattel mortgage), or levying distress for rent. Key legal steps include the issuance of a 'Proclamation of Attachment,' which gives the debtor a specific period to settle the debt before goods are removed. If the debt remains unpaid, the auctioneer can then attach (seize) the movable property. The sale of these goods can only happen after a public advertisement, often in a daily newspaper and sometimes the Kenya Gazette, giving at least seven to fourteen days' notice, depending on the item.

auctioneers for businesses Mombasa
Swipe Recoveries Experts Ltd

Our Auctioneering Process for Business Clients

Our process is designed for clarity, efficiency, and legal compliance, ensuring our business clients in Mombasa are informed at every stage.

1. Instruction & Verification: The client (e.g., a bank, law firm, or landlord) provides us with a formal letter of instruction along with the supporting legal document, such as a Court Warrant, Letter of Instruction from a financial institution, or a Distress for Rent certificate. We meticulously verify the legality and accuracy of all documents.

2. Proclamation & Inventory: Our licensed auctioneer visits the debtor's premises in Mombasa to serve the Proclamation of Attachment. We create a detailed inventory of the goods being proclaimed. The debtor is given a statutory period (typically seven days) to settle the outstanding amount.

3. Attachment & Secure Storage: If payment is not made, we proceed with the attachment (seizure) of the proclaimed goods. The assets are transported to a secure yard or warehouse, such as those available in the Shimanzi industrial area, to prevent damage or loss.

4. Valuation & Public Auction: The attached goods are valued by a professional valuer to establish a reserve price. We then advertise the public auction in a newspaper with nationwide circulation, as required by law. The auction is conducted at a designated public location in Mombasa, ensuring transparency and competitive bidding to maximize the sale proceeds.

Debt Recovery & Auctioneering Coverage in Mombasa, Kenya

Swipe Recoveries Experts Ltd provides commercial recovery, skip tracing, and auctioneering services across Mombasa, Kenya and all 47 counties in Kenya.

Fee Structure & Costs for Auctioneering Services

A licensed auctioneer from Swipe Recoveries standing in front of business assets in Mombasa

The fees charged by auctioneers in Kenya are stipulated in the Auctioneers Rules, ensuring a standardized and transparent pricing framework. This protects businesses from arbitrary charges. The fees are typically calculated as a percentage of the amount recovered or the value of the goods sold.

For example, for the collection of a debt without the sale of goods, an auctioneer might charge a commission on a sliding scale, such as 10% on the first KES 100,000, 5% on the next KES 900,000, and so on. When goods are attached and sold, the auctioneer's commission is charged on the sale proceeds, again on a prescribed scale. Other chargeable costs include transport for attached goods, storage fees, valuation fees, and the cost of advertisement (e.g., newspaper ads can cost between KES 30,000 and KES 80,000 depending on the size and publication). Swipe Recoveries Experts Ltd provides a clear and upfront estimate of all potential costs before commencing any assignment.

Frequently Asked Questions

What happens if the money raised from the auction is more than the debt?
If the proceeds from the auction sale exceed the total amount of the debt plus the auctioneer's costs and fees, the surplus amount must be returned to the debtor. The Auctioneers Act requires a full accounting of the sale. We provide a detailed statement to both the instructing client and the debtor outlining the sale price, all costs incurred, and the final distribution of funds.
Can a debtor stop an auction in Mombasa?
Yes, a debtor can stop an auction. The most direct way is to pay the outstanding debt in full, including the auctioneer's fees and incurred costs, at any point before the auction begins. A debtor can also seek an injunction from the court to halt the auction if they can prove that the process is illegal, irregular, or that the debt is not valid.
Why should our business use Swipe Recoveries for auctioneering in Mombasa?
Swipe Recoveries Experts Ltd combines deep local knowledge of the Mombasa market with strict adherence to the Auctioneers Act. Our team is not only licensed but also experienced in handling complex instructions for major banks and corporations. We prioritize maximizing value for our clients while ensuring every step of the process is legally compliant, minimizing your risk and safeguarding your reputation.