Buyers Conditions of Sale (Moveable Assets)

A buyer making the highest accepted bid for a lot, shall become the purchaser immediately such lot has been knocked down to him. Should there be any dispute whatsoever over or in respect of any lot, the auctioneer shall be entitled to settle such dispute at his sole discretion which shall include but not be limited to the absolute discretion to re-sell such lot or declare any bidder, the purchaser or re-open the bidding even after the drop of the hammer and even if this has the effect of setting aside a validly concluded first sale. No party shall have a claim for damages of any nature in the event of the auctioneer settling any dispute. The auctioneer's decision is final and binding on all the buyers.

The auctioneer is not liable in any way for any errors or inaccuracies in description or identification of goods. All goods are sold voetstoots. In making a bid, a bidder shall be deemed to have made himself fully acquainted with the goods in the lot for which he bids.

All accounts must be paid in cash or by bank guaranteed cheque, forthwith, at the conclusion of each day's sale, in default of which, the unpaid-for lots may at the auctioneer's sole discretion be re-sold and the defaulter shall be liable for any shortfall. Ownership of the goods sold vests in the auctioneer's principal until payment in full has been made. Cheques tendered will not be regarded as payment until actually paid by the drawer bank. All goods are sold exclusive of VAT.

The auctioneer's vendu roll of sale is final and binding on all buyers.

The auctioneer reserves the right to regulate the bidding, to refuse any bid, to withdraw any lot from the sale and to stipulate any reserve price or conditions of confirmation of the bid as imposed by his principal.

The risk in any goods sold, shall pass to the purchaser immediately such goods have been knocked down to the purchaser. The purchaser acknowledges that the auctioneer is not liable in any way for any damage to, or shortfall in, the goods or any goods stolen or destroyed before the purchaser takes delivery of the purchased goods.

The purchaser shall remove the purchased goods at his sole risk and cost and shall be liable to pay storage costs to the auctioneer, if the goods are not removed on the day of the sale.

Should legal proceedings be instituted, the auctioneer may in his sole discretion do so, in his own name.

Should the purchaser not comply with any of these conditions, the auctioneer shall in addition to any other damages, be entitled to recover from such purchaser, any loss arising from the re-sale of any goods, together with the charges and expenses in respect of both sales and any deposit held by the auctioneer, shall be forfeited as rouwkoop.

The signatory below shall be deemed to have bound himself to the auctioneer as surety and co-principal debtor waiving the benefits of excussion and division in solidium with the purchaser, for the due performance of all the purchaser's obligations in terms hereof.

The purchaser hereby agrees to pay costs on the scale as between attorney and client in the event of any litigation and consents to the jurisdiction of the Magistrate's Court, in terms of Section 45 of Act 32 of 1944, as amended, but acknowledges that it is in the sole discretion of the auctioneer to institute action in the High Court.

Every purchaser shall be deemed to act as principal unless the auctioneer has confirmed to him in writing prior to the auction, that he is aware that the purchaser acts as an agent for another named person. The provisions of Clause 10 above shall continue to apply to anyone signing these terms as an agent for another.

The purchaser selects as his domicilium citandi et executandi for all purposes in terms hereof, the address opposite.

The above terms and conditions constitute the entire contract between the auctioneer and the purchaser.

No variation of this contract, novation or consensual cancellation nor any waiver of any portion hereof shall be of any force or effect unless reduced to writing and signed by both parties.

No member of staff has any rights whatsoever to make representation on behalf of the Company OR, to bind the company in any way whatsoever, unless such representation is agreed to in writing and signed, by one of the Members of the Close Corporation. No warranties or representations whatsoever shall be of any force or effect or binding on the auctioneer unless given in writing and signed by a member of the Close Corporation. All goods sold are specifically sold without any warranties whatsoever.

Each term and condition contained herein is severable. In the event that any term hereof is found by a Court of Competent jurisdiction to the unenforceable for any reason, the remainder of the terms shall continue to apply and be of full force and effect.

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