State Act

533

Section 533

Code of Comunidades of 1961

Act no. 2070 of 19611961In forceGoa (State Act)

Art. 533 – The terms of contracts shall be recorded indicating the date, month and year, the subject of the contract, the price or the rent, the name and the address of the bidder and of the surety and the conditions of the contract, when these were not previously set out and mentioned in the respective budget or estimate, and they shall be signed by the bidder and his surety and by the members of the managing committee present. § 1. In the ordinary auctions, however, the clerk of the comunidade shall draw each day the deed of a bid, incorporating therein the terms of the biddings that were awarded, with the signature of the respective bidder and his guarantor. At the end of the day, the same shall be sign by the members of the managing committee as per model No. 13. § 2. When the bidders and their sureties do not know or are unable to sign, other persons shall sign on their behalf, at their request, in which case two witnesses shall also intervene and sign. § 3. For each draw, the comunidade shall pay to the National Treasury, in the form that is already established, the stamp duty due, in accordance with the law in force at the time of the lease; when, however, the administrator presides at the auction, the comunidade shall pay also, in addition, the stamp duty on the tendering report. § 4. The stamp duty on lease and the share in the stamp duty on auction reports shall be charged to the respective lease holder, together with the rent.