8. Sales • Sales to third parties need to be accompanied with an invoice and sales agreement. • Sales to the TWK Group staff may only take place through an auction. TWK Group staff may only be allowed to bid on auction for desktops and laptops: o o o o o o o o One desktop or laptop may be auctioned to a staff member in a period of 5 (five) years. IT Management will maintain a list of historic sales to staff. The Executive Manager: Corporate Services or IT Management will execute the auction process and determine a date and time of the auction. They may also determine additional rules around the auction process and communicate it to staff upfront. All bids from staff members will be considered as final. Bids must be completed in writing and submitted to IT Management before the expiry date and time. The highest bidder will be considered as the new owner of the laptop or desktop. The CFO reserves the right to determine a reserve price. There will be no limit to the bidding price. Should the winner fail to fulfil payment within 5 (five) working days, the laptop or desktop will be offered on auction again. The winner will be excluded from future auctions. All sales will accomplish with a sales agreement, invoice and payment remittance. IT 0011 Version: 2017/v1.1 Page 6 of 13 CONFIDENTIAL THIS DOCUMENT IS THE PROPERTY OF TWK HOLDINGS (PTY) LTD. ILLEGAL USE AND COPYING OF THIS DOCUMENT IS STRICTLY PROHIBITED.
9. Transfer • Assets can only be transferred to another company / cost centre with the same VAT treatment. • If another cost centre accepts fixed assets the acceptance of the receiving outlet should be documented, signed and the designation clearly stipulated. The Asset Transfer Disposal form is available on the TWK intranet site as this will be used as supporting documentation to process the transfer of assets on the fixed asset register. IT 0011 Version: 2017/v1.1 Page 7 of 13 CONFIDENTIAL THIS DOCUMENT IS THE PROPERTY OF TWK HOLDINGS (PTY) LTD. ILLEGAL USE AND COPYING OF THIS DOCUMENT IS STRICTLY PROHIBITED.