Online Auction T&C's
TERMS AND CONDITIONS AND RULES OF ONLINE AUCTIONS
These terms and conditions and Rules apply to all bidders and purchasers on this auction
1. In terms of the contract the following definitions are applicable:
1.1.1 “the Auctioneer” means Salomon,
1.1.2 “Bidders” means any participant bidding on an auction;
1.1.3 “Purchaser” means the bidder of the highest accepted bid which will be
deemed to be the purchaser, except lots sold subject to confirmation in which
case they will only be deemed as the purchaser upon acceptance of the bid by the Seller,
1.1.4 “Owner” means a person, natural or juristic, who is the lawful owner of the
assets, and who is entitled in law to sell the assets;
1.1.5 "no reserve" means that there is no established minimum price for the item being auctioned. This means that no matter what the winning bid, the owner must sell it for that amount.
1.1.6 “Reserve” means a hidden minimum price that has to be attained for the bid to be accepted
1.1.7 “Subject to confirmation” means that the owner has to accept or reject the bid after finalisation of the auction, irrelevant of the reserve price being met and/or exceeded;
1.1.8 “Bidding Platform” WWW.SALOMONSPORTS.CO.ZA
3. CONSUMER PROTECTION ACT
3.1 The rules of this auction comply with section 45 of the Consumer Protection Act, 68 of 2008, and its regulations (the 'Act'). For more information on the Consumer Protection Act 68 of 2008 follow the link:
4. NO DUTY TO REPAIR AUCTIONEER
4.1 Any lot sold at this auction is sold 'voetstoots' or 'as is'.
4.2 The Auctioneer is not liable in any way for any errors on inaccuracies in the description or identification of any lot. In making a bid, a bidder shall be deemed to have acquainted himself fully with the goods in the lot on which he bids.
4.3 The Auctioneer gives no warranties as to the correctness of information on a lot.
5. DISPUTE BETWEEN BIDDERS/PURCHASER AND OWNER
In the event of any dispute arising between a Bidder and/or Purchaser and the Owner of a lot, the Parties agree that the Auctioneer will not form part of any such dispute and that the matter must be resolved between the Bidder and/or Purchaser and the Owner directly.
6. SALE BY AUCTION
6.1 The sale by auction is complete at the Auctioneer’s fall of the hammer or any other customary manner.
6.2 All bids received exclude VAT, commission and fees.
6.3 The bidder of the highest accepted bid will be deemed to be the purchaser.
6.4 If there is a dispute between two or more bidders, the lot may be put up for sale again or the auctioneer may declare the purchaser. The decision of the auctioneer is final.
6.5 If the bidder is successful, an email notification will be sent to him/her confirming that he/she has won the lot and the bid will automatically be added to the bidder's account. The bidder will be supplied with a TAX Invoice and can proceed to effect payment.
6.6 Each lot is sold separately but will be invoiced collectively. The entire invoice must be settled in full before any item will be released.
7. PAYMENT PROCEDURE
7.1 All Purchasers must effect full payment of the purchase price including VAT within 48 HOURS of sending of the email notification and Tax Invoice comfirming he has won the bid. Payment must reflect the reference number on the pro forma invoice.
7.2 Payment must be made in the account of the Auctioneer for the benefit of the Owner, unless the Auctioneer is the owner/rightful holder of the item, minus commision, fees, VAT and storage/standing charges.
7.3 In the event that the Purchaser do not comply with Paragraph 7.1:
7.3.1 The Purchaser expressly and unequivocally acknowledge and agrees that the lot may be resold on the Auctioneer’s online bidding platform;
7.3.2 That the Purchaser will be held liable for any loss and/or damages, such as shortfall on resale of lots from the original price and storage/standing time.
7.3.3 The Purchaser will not be entitled to any profit of the resale of any lot.
8. DISPACTHING PROCEDURE
8.1 Dispatching procedure: Annexure A
8.2 Removal of any lot by the purchaser will not take place until payment of the full purchase price (including VAT) has been made to the Auctioneer and reflect in the Bank account of the Auctioneer. Each lot is sold separately but will be invoiced collectively. The entire invoice must be settled in full before any item will be released.
8.3 No lots will be released during the auction process.
Ownership in the items shall pass to the purchaser only on payment of the full purchase price (including VAT) has been made to the Auctioneer
13.SUBJECT TO CONFIRMATION
13.1 If any item is sold Subject to Confirmation, the confirmation period will be 3(three) days from the date of the auction, unless otherwise stated by the auctioneer or advertised, during which period the purchaser shall not be entitled to withdraw his/her offer.
13.2 For purposes of the auction ALL items are sold subject to comfirmation.
14.WITHDRAWAL OF BIDS
Any bidder wishing to withdraw his/her bid may do so before the fall of the hammer, which is once a particular lot closes on an online auction. Withdrawal of a bid must be done in writing and a bid will only be deemed withdrawn upon receipt of written confirmation by the Auctioneer.
15.1 The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder's or Auctioneer's internet connection interruption for any reason.
15.2 The Auctioneer accepts no responsibility for loss of a potential purchase, should a bid not be recorded as a result of the bidder being disconnected or the online system going offline during the auction process.
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 claim for damages, administration costs, storage/standing costs and legal costs as between the attorney and own client including collection commission.
The parties hereto consent to the jurisdiction of the Magistrate’s Court, in terms of section 45 read with section 28 of the Magistrate’s Court Act of 1944 as amended. Notwithstanding the aforegoing, this shall not preclude either party from approaching the High Court of South Africa for any relief sought.
18.WHOLE AGREEMENT REGARDING TERMS AND CONDITIONS
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.
19.WAIVER, INDULGENCE OR SUSPENSION
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.