The sale shall be carried out by public auction by an auxiliary officer of justice empowered to do so by the national law of each State Party. It shall either be carried out in the place of the attached property, or in a hall or in a marketplace whose geographical location is most appropriate to attract competitive bidding at minimal cost.

Where there is a disagreement between the creditor and the debtor over the place where the sale shall take place, the competent court, ruling in urgent matters, shall adjudicate over the dispute within five days of the complaint being filed by the most diligent party.

Publication of the sale shall be done by affixing posters which shall indicate the place, date and time of sale and the nature of the attached property.

The posters shall be affixed at the town hall of the place of residence or place of abode of the debtor, or at the neighbouring market and at any other appropriate place, as well as at the place of the sale, where such sale is to be conducted in a different place.

The sale may also be publicized either through print media or broadcast media.

Publication shall be carried out upon the expiry of the period prescribed in the last paragraph of Article 117 of the OHADA Law and at least fifteen days before the date fixed for the sale.

The bailiff or process-server shall certify that the publication formalities have been complied with.

The debtor shall be informed by the bailiff or process-server of the place, date and time of the sale not less than ten days before the date by registered mail with acknowledgment of receipt or by any other means with written proof. Mention shall be made thereof in the certificate as provided for in Article 122 of the OHADA Law.

Before the sale, the state and nature of the property attached shall be verified by the officer in charge of the sale. A report thereof shall be drawn up. Only missing and damaged property shall be mentioned in the report.

The auction shall be adjudicated to the highest bidder after three (3) calls. The purchase price shall be payable in cash, failing which the property shall be resold following the irresponsible bid.

The sale shall be stopped once the price of the property sold is sufficient to cover amount of the claim for which the property was attached and that of the opposing creditors in terms of the principal, interest and costs.

A report of the sale shall be drawn up. It shall contain a description of the property sold, the amount of the sale and the full names of the successful bidder.

The auctioneer or any other auxiliary of justice charged with the sale may not receive any amount below the purchase price under pain of the applicable criminal sanctions.

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