STANDARD TERMS AND CONDITIONS OF BUSINESS
“Auctioneers” means Lacy Scott & Knight – Property and Business Consultants LLP, whose registered office address is at 10 Risbygate Street, Bury St Edmunds, Suffolk, IP33 3AA
“Host” means iBidder.com or Bidspotter.co.uk – The host website portal for this auction;
“Internet Surcharge” means the surcharge charged to the Purchaser on purchased Lots;
“Conditions” means the standard terms and conditions of business set out in this document;
“Lots” means all or any machinery and other items sold or intended to be sold in accordance with these conditions;
“Purchaser” means a person, firm or Company who purchase any Lot;
“Vendor” means a person, firm or Company who puts forward any Lot intended to be sold at the sale;
“Sale” means a sale of the Lots by auction from time to time organized by the auctioneers;
“Sale ground” means the venue at which the sale takes place;
“Sale price” means the price at which a Lot is sold to the winning Purchaser; and
“Reserve Price” means the minimum price fixed by either the Auctioneers or Vendor at which any Lot is to be sold at
2 CONDITIONS OF SALE
3 HEALTH AND SAFETY
4 AUCTIONEERS STATUS
5 LIMITATION OF LIABILITY
(a) loss of profit;
(b) loss of goodwill;
(c) loss of business;
(d) loss of business opportunity;
(e) loss of anticipated saving; or
(f) special, indirect or consequential damage, suffered by any other party that arises under or in connection with these Conditions.
6 WARRANTY DECISIONS
In case of dispute as to the interpretation of these Conditions the decision of the Auctioneers shall be final and binding on all parties save as provided for in clause 15(iv).
The Auctioneers sell as agent for the Vendor and as such are not responsible for any default by the Vendor or Purchaser.
8 CATALOGUES AND ADVERTISEMENTS
The Auctioneers cannot guarantee that any Lot described in any Catalogue or advertisement nor that any description therein contained can be relied upon as accurate. Any illustrations in Catalogues are for general identification only.
9 RESERVE PRICE AND BIDDING
(i) All Purchasers must register their names and addresses before they are permitted to bid in an online sale, The Auctioneers reserve the right to reject or terminate any registration at its sole discretion.
(ii) On conclusion of the Auction period, we will notify the Purchaser by email to confirm:
11 RESERVATION OF TITLE
(i) If not paid for on demand, the Lot shall be returned to the Sale ground for resale.
(ii) Title to Lots shall not pass to the Purchaser until payment in full is received (in cash or cleared funds) for the Lots, in which case title to these Lots shall pass at the time of payment of all such sums.
(iii) Until title to Lots has passed to the Purchaser, the Purchaser shall:
(a) store those Lots separately from all other goods held by the Purchaser so that they remain readily identifiable as the Vendor’s property;
(b) not remove, deface or obscure any identifying mark or packaging on or relating to those Lots; and
(c) maintain those Lots in a good and marketable condition and keep them insured on the Vendor’s behalf for their full price against all risks with an insurer that is reasonably acceptable to the Vendor.
(iv) Subject to clause 11(v), the Purchaser may resell or use the Lots in the ordinary course of its business (but not otherwise) before payment for the Lots is made in full (if the Purchaser resells the Lots before that time it does so as principal and not as agent).
(v) If, before title to Lots passes to the Purchaser, the Purchaser suspends, or threatens to suspend, payment of its debts or is unable to pay its debts as they fall due or admits any inability to pay its debts, or is deemed by the Auctioneers to be unable to pay its debts, then without limiting any other right or remedy the Vendor may have:
(a) the Purchaser’s right to resell the Lots or use them in the ordinary course of its business ceases immediately; and (b) the Vendor may at any time require the Purchaser to deliver up all Lots in its possession that have not been resold, or irrevocably incorporated into another product.
12 VALUE ADDED TAX ON PURCHASE PRICE
VAT at the standard applicable rate will be added to the sale price of all lots unless they are exempt.
13 WARRANTY AND INSPECTION OF GOODS
14 COMPLIANCE WITH ROAD TRAFFIC ACTS
The Purchaser of any vehicle or trailer is responsible for complying with all legal requirements as to the construction and the use of such vehicle or trailer and for obtaining all certificates, permits or other authorization necessary before such vehicle or trailer can be used on the road.
15 ACCEPTANCE AND DEFECTIVE LOTS
(a) in the case of a defect that is apparent on normal visual inspection, no later than 12:00 noon on the third working day following the sale date (such period of time may be extended at the Auctioneers sole discretion); and
(b) in the case of a latent defect, give notice to the Auctioneers as soon as possible following the latent defect having become apparent.
(c) return the Lot to the Sale ground (or other such location as notified to the Purchaser by the Auctioneers) within seven days of the Purchaser’s notice; and
(d) within seven days of the Auctioneer’s request, provide a competent engineer’s report setting out full details of the alleged defect.
(iii) The Purchaser’s rights under clause 18 shall not apply if:
(a) the Purchaser makes any further use of those Lots after giving notice or discovering the defect;
(b) the defect arises because the Purchaser failed to follow any oral or written instructions for the storage, commissioning, installation, use and maintenance of the Lots or (if there are none) good trade price regarding the same;
(c) the Purchaser alters or repairs those Lots;
(d) the defect arises as a result of fair wear and tear, wilful damage, negligence, or abnormal storage or working conditions; or
(e) the Lots differ from their description as a result of changes made to ensure they comply with applicable statutory or regulatory requirements.
(iv) The Auctioneers may appoint as arbitrator any person including but without limitation any partners of their own firm or any person in their employ who decision shall be final and binding on the Vendor and the Purchaser.
16 RESALE DUE TO FAILURE OF COMPLIANCE
17 AUCTIONEERS’ RIGHT TO ANNUL SALES
18 REMOVAL OF LOTS FROM SALE GROUND
(i) All Lots whether sold or unsold may not be removed from the Sale ground without a pass for the removal of Lots. Passes must be obtained from the Auctioneers’ offices. All Lots must be checked out by a representative of the Auctioneers.
(ii) The Purchaser has no right to anything not described in the catalogue.
(iii) The Purchaser will be responsible for removal of lots at his own expense and must provide his own labour and equipment. Such removal must be carried out safely and lawfully and in accordance with any conditions of sale of which the Purchaser is notified.
(iv)All Lots purchased must be cleared from the Sale ground within seven days of the date of the Sale in which they were purchased.
(v)The Auctioneers reserve the right to sell entirely without reserve by auction at the next, or at any future Sale, any sold or unsold Lot which remains in the Sale ground for longer than the times specified in clause 18(i) above, unless they have received and accepted in their sole opinion a satisfactory explanation in writing from the Purchaser or Vendor as to why the Lot remains in the Sale ground.
19 BUYER’S PREMIUM
Buyer’s Premium will be charged at 2% plus VAT.
20 INTERNET SURCHARGE
The Auctioneers will charge purchasers an internet surcharge of 2% (plus VAT) on the hammer price of each and every Lot purchased online.
21 THIRD PARTY RIGHTS
A person who is not a party to the contractual relationship shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term. This does not affect any right or remedy of a third party which exists, or is available, apart from that Act.
22 ENTIRE AGREEMENT
You acknowledge that you have not relied on, and shall have no remedies for, any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in the Conditions.
(i) If any provision or part-provision of these conditions is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If that modification is not possible, the relevant provision or part provision shall be deemed deleted. Any modification to, or deletion of, a provision or part-provision under this clause 29 shall not affect the validity and enforceability of the rest of the Conditions.
(ii) If any provision or part-provision of the Conditions is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend that provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.
24 APPLICABLE LAW & JURISDICTION
These Conditions shall be governed and constructed in accordance with English Law. All transactions to which these Conditions apply and all connected matters shall also be governed by English Law
LACY SCOTT & KNIGHT AUCTIONEERS, April 2022