6. The Auctioneer reserves the right to revoke any Bidding Number at any time.
7. The Auctioneer sells as agent for the Vendor and as such is not responsible for any default by Vendor or Purchaser.
8. The highest Bidder shall be the Purchaser. Any dispute as to any bid shall be settled at the Auctioneer’s absolute discretion. Every Bidder shall be deemed to act as a principal unless there is in force written acknowledgement by the Auctioneer that the Bidder acts as agent on behalf of a named principal. Any such agency arrangements must be notified to the Auctioneer at registration.
9. No Bidder may advance less at a bid than a sum to be named from time to time by the Auctioneer.
10. The Auctioneer has absolute discretion without giving any reason to refuse any bid, to divide any Lot, to combine any two or more Lots, to withdraw any Lot from the Auction and in case of dispute put any Lot up for Auction again.
11. Without prejudice to the generality of clause 7, all Lots are sold as seen and with all faults and imperfections and errors of description. Illustrations, descriptions and years in catalogues or brochures are for identification only. Descriptions in each case are provided by the Vendor. All Lots are available for inspection and Purchasers should satisfy themselves prior to the Auction to as to the condition of each Lot and should exercise and rely on their own judgement as to whether the Lot accords with its description. The Purchaser of any Lot is deemed to have inspected the Lot prior to purchase. The Auctioneer gives no warranty as to the description, condition, year or otherwise in relation to any Lot and all warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Agreement.
Each and every Lot shall be sold ‘as is, where is’. Specifically, but without limitation, Auctioneer makes no representation or warranty that any of the Lots:
a. Conform to any standard in respect of safety, pollution or hazardous material or to any standard of requirement of any applicable authority, law or regulation, or
b. Are fit for any particular purpose, or
c. Are merchantable or financeable, or
d. Are of any particular age, year of manufacture, model, make or condition.
Purchaser agrees he has satisfied himself and is not relying on Auctioneer, nor are Auctioneer liable, for any matter in respect of the above. Bidder further agrees to repair, at his cost, any Lot purchased at the Auction to a safe operating condition and, without limitation, to a condition which meets any standard or requirement of any applicable authority, law or regulation including those concerning any use to which the Lot may be put.
12. Auctioneer may offer Lots to internet bidders using its online service; however, Auctioneer shall not be liable for any claims or costs arising from its failure to do so. Inaccuracies in the catalogue or on the internet will under no circumstances relieve the Purchaser from responsibilities accepted on the Bidders Registration form.
13. Without prejudice to clause 11, all Lots are sold without CE Marking unless specified otherwise. If any Lot has been described as CE Marked, the Purchaser acknowledges that this description has been provided by the Vendor. The Auctioneer makes no warranty as to the accuracy or authenticity of any CE Marking on any Lot.
14. The Auctioneer will use reasonable endeavours to ensure that all Lots appearing in the catalogue for sale are presented for sale at the Auction but the Auctioneer accepts no liability for loss or damage howsoever arising (included but not limited to costs of
attendance of Bidders at the Auction) in the event that any Lot is withdrawn or otherwise is not presented for sale at any Auction.
15. The Purchaser of any Lot will be charged Commission on the Hammer Price at a rate of 2.5% in addition to the Hammer Price.
16. All sums owed under this Agreement (including but not limited to purchase total, taxes, commissions, duty and storage) shall be paid in full within 7 days of the Auction failing which the Auctioneer may charge interest on late payments on a daily basis at a rate equivalent to 4% above the base lending rate of the Central Bank of the United Arab Emirates then in force.
17. Bidder acknowledges and agrees that the acquisition, delivery, export, and ownership of certain products or source of funds for such products are subject to international, federal, state, and local regulations. Bidder expressly represents that it is presently in full compliance with and shall continue to comply with all applicable international, federal, state and local laws, statutes, ordinances and regulations relation to the acquisition, delivery, export, and ownership of any Lots as may be required by Bidder.
18. The Auctioneer will accept the following as means of payment subject to the conditions below:
Bank Transfer;
Cash;
Cheque;
Credit Card (subject to a non-refundable processing fees );
Debit Card; (subject to a non-refundable processing fees);
In each case the Purchaser must cause cleared funds equivalent to the Purchase Price (including but not limited to purchase total, taxes, commissions, duty and storage) to be paid to the Auctioneer within 7 days from the Auction. No payment shall be deemed to have been received by the Auctioneer until the Auctioneer has received cleared funds.
Time for payment shall be of the essence.
19. The Auctioneer shall not be obliged to release any funds to the Vendor for Lots sold until such time as the Auctioneer has received cleared funds from the Purchaser of such Lots or 21 days from the Auction Date
20. Each Lot shall be at the Purchaser’s risk from the fall of the hammer but must be paid for in full (including but not limited to purchase total, taxes, commissions, duty and storage) before ownership in the Lot passes to the Purchaser. The Purchaser agrees to insure the purchased Lot against all losses from the Auction until removal of the Lot by the Purchaser.
21. The Purchaser, or its servants or agents, will be responsible for the loss or damage to the Lots purchased from the time of the Auction and neither the Auctioneer or its servants or agents shall afterwards be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any Lot is in their custody or under their control.
22. The Purchaser shall at its own expense take away the Lot purchased not later than 30 days after the day of the Auction but not before payment to the Auctioneer of the Total Invoice Price. The Purchaser will be responsible for any removal, storage (daily fee of $25 per lot per day) and insurance charges on any Lot not taken away within 30 days after the day of the Auction.
23. If any Lot is not paid for in full (including but not limited to purchase total, taxes, commissions, duty and storage) and taken away in accordance with the above conditions, the Auctioneer may, at its absolute discretion and without prejudice to any other rights it may have, resell the Lot or cause for it to be resold by public auction or private sale. The defaulting Purchaser shall then pay to the Auctioneer any resulting deficiency in the Purchase Price from the first sale after deduction of any part payment and addition of sale costs. Any surplus shall belong to the defaulting Purchaser.
24. Neither a Bidder nor any person affiliated with, or as agent of, a Bidder shall collude with any Vendor or any other Bidder in the making of bids for Lots at the Auction.
25. This Agreement can only be amended or varied by written agreement between the parties and constitutes the entire agreement between the parties and overrides prior contracts or agreements or understandings between the parties in relation to the sale by Auction and ensures for the benefit of and is binding upon the heirs, executors, administrators, successors in title and assigns of the parties herein.
26. The Purchaser accepts that Auctioneer may vary the invoice in relation to lots bought as a direct result of errors in buyer numbers during sale day. Auctioneer will endeavour to minimise this possibility at all times however, buyers will accept lots bought at auction. Valid Tax Invoices for Hammer Price will be provided by the Vendor. Valid Tax Invoices for Commission or any applicable charges will be issued by the Auctioneer.
27. Purchasers may also be Vendor and the Auctioneer can contra both accounts.
In relation to Contras:
a. The Purchaser agrees that where a contra has been applied to the Purchaser’s account the Auctioneer reserves the right to remove or amend this at a later date. Should this occur the new Invoice will supersede any previous invoices or pro-forma and the Purchaser will be liable for any outstanding amount.
b. The Purchaser agrees that contras will be made against the oldest outstanding debt.
28. Documents relating to the purchased Equipment, if any, shall be delivered to the Purchaser within 14 days from the date the Bidders invoice is paid in full. No certificates of safety or origin shall be provided for the Equipment. Only documents required for the jurisdiction the auction is held will be prepared.
If, for any reason, Auctioneers are unable to make available or deliver any Purchase or clear title to the same, or documentation required in respect of any Purchase, whether before or after delivery, Auctioneers sole liability, if any, shall be the return of monies paid in respect of such Purchase when monies are received back by the Auctioneer from the Vendor, upon return of the vehicle by the purchaser. Any such Purchase shall be returned or surrendered upon demand by Auctioneers.
29. A security interest is granted by the Bidder in his purchases to the Auctioneer for the purpose of securing full payment of his purchase total. The Auctioneer may file the Bidder Registration Form as a financing statement (in the event of non-payment) to complete and perfect the security interest granted by the Security Agreement. By signing the Bidder Registration Form, the Bidder expressly acknowledges his understanding, and his acceptance of the security interest created by this clause (29) of the terms, and shall be evidence of the security interest(s) created.
30. Equipment at the Auction is not permitted to be purchased for Delivery to Iran, Qatar or the Sudan. The Auctioneer has complete and sole discretion to cancel any purchase or any Bidder registration form if it is determined that the ultimate destination of equipment purchased by any Bidder is Iran, Qatar or the Sudan.
31. The Vendor will provide a refund of the Hammer Price to the Purchaser if the vehicle purchased fails a RTA inspection test due to a chassis fault if the following conditions are met:
a) Vehicle has been tested within 7 days of collection.
b) Refund request has been registered with the Vendor within 7 days of collection and a valid RTA fail certificate that states a failure is a result of the chassis has been submitted.
c) Vehicle is to be returned to the point of collection within 7 days.
The refund is the sole responsibility of the Vendor who is contracted to provide this guarantee; the Auctioneer has no liability in relation to the refund.
32. Laws and regulations in force in Dubai, United Arab Emirates shall govern these Terms and Conditions and relationship to the Auctioneer and the Bidder. Any dispute between the Auctioneer and the Bidder shall be finally resolved by either the courts of Dubai, United Arab Emirates or, at the Auctioneer’s sole and absolute discretion, by the courts where the Bidder is residing or where the Bidder has assets.