Terms and Conditions

CONDITIONS OF SALE

CB Auctioneers
Cell: 083 700 5396
Email: calvyn@cbautioneers.co.za
facebook.com/cbauctioneers

REGISTRATION REQUIREMENTS: ID & Proof of Residence, Registration Deposit
BANKING DETAILS: CB Auctioneers, FNB, Account no: 62609241336, Branch code: 270451, Branch Machadodorp
Conditions of Sale are always stipulated by documents that accompany any particular auction that is being advertised on Facebook: Calvyn Badenhost Auctioneering or elsewhere.

The following terms & conditions serve as binding conditions to all auctions hosted by CB Auctioneers:
I/we indemnify and hold harmless CB Auctioneers: In respect of any claim of whatsoever nature, including by not limited to death, loss, theft, injuries or damages of whatsoever nature and whatsoever arising, which I/we may have against CB Auctioneers arising out of or in connection with the auction and me/us being present or partaking in such auction; I/we regard these terms and conditions as binding on our executors, Legatees, Heirs, Successors in title and or assigned, respectively.

The auctioneer shall have the right to control, regulate and record the auction, The recording of the auction shall have the prima facie evidence of the auction proceedings. The auctioneer may accept or reject bids in his sole discretion without providing reasons. This would include rejecting an offer previously accepted by the auctioneer. In the event of a dispute between bidders, the decision of the auctioneer shall be final and binding. The auctioneer may, without penalty or prior notice, withdraw any item(s) from any group of assets (”lots”) on auction at any time before the sale thereof or during the auction. Offering a bid price by the bidder shall constitute an offer to purchase for the amount bid. The highest bidder accepted by the auctioneer shall be the purchaser if NO RESERVE or SUBJECT TO CONFIRMATION is applicable. No “rising” shall be permitted and if the auctioneer suspect that the bidders are involved in such activity, he shall be entitled to suspend or terminate the auction, or to prohibit those bidders suspected of such activity from making any further bids. In this context ringing is defined as a group of buyers at an auction who collude not to be bid against one another in order to keep the auction price low. The auctioneer is entitled to correct any bona fide error in the conduct or conclusion of any sale or arising from any incorrect information to the items for sale. In the event that the error is capable of not being corrected, then the auction shall be deemed not having taken place and no party at the auction will have any claims against the auctioneer or the seller arising from the cancellation of the auction. All sales are done in one of the following manners: NO RESERVE- “no reserve” means that there is no established minimum price from the item being auctioned. This means that no matter what the winning bid, the owner must sell it for the amount: or RESERVE- “Reserve” means a hidden minimum price that has to be attained for the bid to be accepted. SUBJECT TO CONFIRMATION- “Subject to confirmation” means that the owner has to accept or reject the bid after finalization of the auction. All items are sold “voetstoots” (as is). No representation or warranties are made by the auctioneer or seller.

Neither the auctioneer nor the seller shall be liable in consequence of any representation made by them at or before the auction, in particular, no warranties are made regarding immovable property, motor vehicles, tractors etc. in respect of year, make or model thereof, and/or outstanding tickets or the roadworthiness thereof. It is specifically agreed that it is the sole responsibility of the Purchaser to acquaint and familiarize themselves with the property that they are bidding on. It is also specifically agreed that the transfer and transfer cost of registered motor vehicles, tractors, trailers, etc. is the sole responsibility of the Seller. Risk on each item passes onto the fall of the hammer or electronic notification of a successful bid once a particular lot closes on an online auction.
On the acceptance of a successful bid a document detailing (hereinafter referred to as the “Invoice”) the exact identification of the item sold, the price, (12% furniture and movables, 8% trailers, tractors, vehicles and implements 5% Livestock, 5% Plant). Commission payable by seller or buyer. CB Auctioneers will not charge commission from both the buyer and seller. Undisclosed seller commission negotiable prior the auction where the seller is responsible for paying commission. Some Auctions may require a registration fee.

5% Admin fee applicable on card transactions. Vat amount refundable on Buyer invoice for a transaction where the Seller is registered for Vat and Vat amount payable on Seller invoice for transactions where the buyer is registered for Vat. Buyer invoices are processed on Auction day for payment. Terms of payment are generated by the auctioneer and the registrant hereby accept the content thereof as a summary of the sale and amount due. Unless written arrangements between die auctioneer and the buyer is made for the granting of credit made all sales of goods at auction are payable on Auction day by way of Card or EFT. No hard cash transactions. If payment by the buyer is unsuccessful the Auctioneer has the right to cancel the transaction whereby ownership of goods reverts back to the seller. Seller invoices are processed on the following working day whereby the total amount less commission are paid over by CB Auctioneers via electronic transfer, CB Auctioneers bank with FNB. Electronic transfers between different bank groups may take a few days longer to process. The purchaser shall remove his purchases at the conclusion of the auction, and only after full clearance of his payment as set out in the invoice have been effected and all agreements required by CB Auctioneers have been properly signed by both parties. The seller shall remove his unsold entries within a day of the conclusion of the auction. The purchaser shall be liable for the cost of repairs for any damages caused by him to the auction premises or any other item while removing his purchases or otherwise. Should any item purchased be financed by the purchaser through a financial institution, proof of approved finance must be presented to the auctioneer before the start of the auction. No item may be purchased subject to finance approval.Ownership will only pass to the purchaser on clearance of payment of the full amount as set out in the Invoice. If any item is sold Subject to Confirmation by the seller, the confirmation period will be seven (7) days from the date of auction, unless otherwise stated by the auctioneer or advertised, during which period the purchaser shall not be entitled to withdraw his/her offer. Any item that is Subject to Confirmation will be paid for in full by the highest bidder on the conclusion of the auction or within the 7 day confirmation period. Items subject to a 7day confirmation period will not be offered to a third party by the owner. Should the bid not be accepted by the seller within the adequate period as noted the auctioneer will refund to the purchaser the full amount paid to the auctioneer for the item. No interest is payable by the auctioneer. If the purchaser breaches any of these Conditions of Sale, he/she shall be liable to pay any cost incurred by the auctioneer as a result of the breach including administration cost, storage cost and legal costs as between the attorney and own client including collection commission. The purchaser chooses his domicilium citandi et executandi at the address supplied by himself during the registration process. The parties hereto consent to the jurisdiction of the Magistrate’s Court. Notwithstanding and foregoing, this shall not preclude either party from approaching the High Court of South Africa for any relief sought. These Conditions of sale constitute the whole agreement between the parties as to the subject matter hereof and no agreement, representation or warranty between the parties other than those set out herein are binding on the parties. No extension of time, waiver, indulgence or suspension of any of the provisions of this agreement which any party hereto may have given shall be binding unless recorded in a written document signed by all parties. The parties accepting these Terms and Conditions confirm that they have read and understood all of the terms and conditions contained herein and agree that they are bound hereto. No indulgence which the auctioneer may grant to the purchaser shall prejudice or constitute a wavering of rights of the auctioneer or the seller, who shall not thereby be precluded from exercising any rights against the purchaser which may have arisen in past or might arise in the future. The signatory (person who agrees to the Terms and Conditions set out on the website) to this agreement binds himself/herself as surety and co-principal debtor together with the company, close corporation, trust, association or any other entity reflected on the face of the terms and conditions set forth more fully above for due fulfilment by the principal debtor of all the principal debtor’s obligations and liability arising out of the sale of any goods to the principal debtor. In this regard, the signatory as surety and co-principal debtor renounces the legal exceptions of excussion and division, non numerate pecuniae, non causa debiti, errore caluli no value received and revision of account with which the signatory hereto is fully acquainted and understand. Any person who registers for any auction of CB Auctioneers, whether online or on-site, agrees to all the combined Terms and Conditions of CB Auctioneers. By signing on registration as a Seller for your entries or as a buyer for your bidding number you confirm that you are fully aware of and understand our conditions of Sale By signing your buyers or sellers invoice you confirm that you are fully aware of and understand our conditions of Sale.

I hereby acknowledge that I read and understand the terms and conditions of CB Auctioneers.

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Signature of buyer

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Signature of seller