Written by Faisal Shahnawaz in Auction, Taxation Draft amendments require bidders to confirm physical inspection of auctioned goods before participating in Customs auctions ISLAMABAD: The Federal Board of Revenue (FBR) has proposed making it compulsory for bidders participating in Pakistan Customs auctions to submit a written undertaking confirming that they have physically inspected the auctioned goods before placing a bid. The proposal has been introduced through SRO 1277(I)/2026, issued on Wednesday as draft amendments to the Customs Rules, 2001, with the objective of improving transparency, strengthening the auction process and reducing disputes after the sale of goods. Goods to Be Available for Inspection Under the proposed amendments, auctioneers will be required to make auctioned goods available for inspection by prospective bidders for at least three days before the scheduled auction. The FBR said the requirement is intended to provide bidders with sufficient opportunity to assess the quality, condition and nature of the goods before participating in the auction process. Mandatory Undertaking Before Bidding The draft rules require every bidder to submit a written undertaking on the official letterhead of the bidding firm or company before taking part in an auction or any subsequent re-bidding process. The undertaking must be duly signed and stamped by the authorised signatory of the firm or company. Declarations Required from Bidders Under the proposed format, bidders will be required to declare that: • They have personally, or through an authorised representative, physically inspected the goods before participating in the auction. • The inspection was carried out on a specified date and at the designated location. • They have examined the existing physical condition of the goods. • They will not…