TERMS AND CONDITIONS (ANNEXURE A)
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The Auction shall be under the control of SA Auction Group, its duly authorized employees, representatives and agents and all sales will be
subject to the applicable Auction/s terms and conditions, which terms and conditions the Seller/s hereby acknowledges and accepts.
SA Auction Group shall not be liable for any errors of description of any of the movable properties.
SA Auction Group accepts the movable properties with a minimum reserve and of which SA Auction Group will regulate the sale as close as
possible to the minimum reserve price.
The Seller/s authorizes SA Auction Group to bid and protect their sale of their movable properties to the Minimum Reserve Price. SA Auction
Group are not obliged to sell and/or auction any movable properties. The Seller/s shall have no recourse to and/or against SA Auction Group if
the movable properties are not sold as per the required reserve price.
All prices are pre-agreed with the auctioneer and the Seller/s and all sales will be subject to SA Auction Group Standard terms and conditions,
which the Seller/s accepts. Copies are available.
The Seller/s acknowledges that any reserve price indicated by the Seller/s, shall the price the Seller/s require inclusive of VAT, if the Seller/s is a
registered VAT vendor. Sellers must indicate if the reserve price is VAT inclusive or exclusive of VAT.
The Seller/s warrant that 1) it is the owner of the movable properties and 2) that the movable properties are unencumbered in any way
whatsoever, either in part or a whole, and 3) that the movable properties are not subject to any lease, hire purchase or credit installment sale
agreement or any other agreement with a 3rd party or entity including but not limited to an agreement falling under the National; Credit Act 34
of 2005 and may lawfully be auctioned by SA Auction Group.
The Seller/s accepts and acknowledges that SA Auction Group advertises the sale of listed assets, movable and/or immovable properties 2 – 4
weeks prior to the auction. Advertising budget is spent to attract a wide spectrum of buyers. Should items be withdrawn from the auction by
the Seller/s, the Seller/s will be liable to pay to SA Auction Group the pro rate advertising costs of any advertising done and/or placed by SA
Auction Group or charged to SA Auction Group.
No Agent or representative of SA Auction Group shall have any authority to make representations, statements or warranties that are not herein
expressed unless the same are made in writing and signed by a duly authorized person.
No amendment and/or variation and/or addition to the pre-auction contract as dispatched, transmitted and/or delivered by SA Auction Group
to the Seller/s, shall be of any force or effect unless it is reduced to writing and signed by the Parties or their duly authorized representatives.
Should the Seller/s make any amendment and/or variations and/or addition to the pre-auction contract after SA Auction Group dispatched,
transmitted and/or delivered same to the Seller/s, such amendment and/or variations and/or addition shall be of no force or effect unless
confirmed separately in writing by SA Auction Group, which confirmation can be made pre or post auction by SA Auction Group.
The Seller/s chooses as his/her/its chosen domicilium citandi et executandi for all matters arising here from, the physical address reflected
above.
The Seller/s consents to the jurisdiction of the Magistrates Court. SA Auction Group shall, at its sole discretion, be entitled to institute an
auction in any competent division of the High Court of South Africa if it elects to do so.
The Seller/s shall not have any right, remedy or claim of any nature whatsoever against SA Auction Group for any loss, damage (whether
general, special or consequential), expense or injury which may be suffered by the Seller/s, directly or indirectly, arising out of or relating to this
pre-auction contract, irrespective of whether or not such loss, damage, expense or injury shall have been caused by SA Auction Group or any
person for whose acts or omissions SA Auction Group is vicariously liable. Without derogating from the generality of the a foregoing, SA Auction
Group shall have no liability to the Seller/s in respect of any such loss, damage, expense or injury which may be suffered by the Seller/s from any
fire in or on SA Auction Group Premises, or any theft from SA Auction Group premises, or arising out of vis major or casus fortuitous, or arising
out of any act of omission of any employee, representatives and/or agents of SA Auction Group, which, or arising, in any manner whatsoever,
out of the pre-auction contract.
The Seller/s hereby indemnifies the SA Auction Group and each of SA Auction Group’s employees, representatives and/or agent against any
claim of any nature whatsoever which may be made against SA Auction Group, or any such employee, representatives and/or agent by any of
the Seller/s servants, employees, agents, invitees, customers, dependants and/or contractors arising out of any event or cause of any action
referred to in herein.
Should any provision of this pre-auction contract (including any schedules and/or annexures (if and)) become unenforceable, such provision
shall be served from this pre-auction contract and the remaining provisions shall be of full force and effect.
Words signifying the singular shall include the plural and vice versa.
VENDOR ___________________________
SA AUCTION GROUP _________________________________ DATE _____________________________
(TEL) 0860 110 851 / (FAX) 086 650 1358 / (EMAIL) [email protected]
(Website) www.tradinggroup.co.za