Terms & Conditions

THIS SALE IS BEING CONDUCTED UNDER OUR USUAL CONDITIONS WHICH WILL BE READ AT THE COMMENCEMENT OF THE SALE.

TERMS AND CONDITIONS OF SALE BY PUBLIC AUCTION

1.1 “Auctioneer” means Laudiston Pty Ltd Trading As Laudiston Valuers & Auctioneers, it’s servants, agents, contractors and subcontractors. “Bid” means an offer to purchase Goods. “Bidder” means a person who makes a Bid. “Goods” means any goods held for auction by the Auctioneer. “Lot” means goods auctioned as a complete and distinct item. “Person” includes a firm, body corporate, unincorporated association or authority. “Purchaser” means a person who purchases goods auctioned by the Auctioneer, its servants, agents, contractors and subcontractors. “Vendor” means the person for whom the Auctioneer auctions Goods, its servants, agents, contractors and sub-contractors.

1.2 This auction shall be completely and exclusively governed by these terms and conditions of sale (“Terms”) which shall supersede all prior arrangements, written or oral.

2. Persons entering on the Auctioneer’s or Vendor’s premises shall do so at their own risk and expressly agree to be bound by the warning notice displayed at the entrance to the auction premises. The Auctioneer’s or Vendor’s premises or both may contain dangerous or hazardous goods or substances.

3. Prior to bidding for any Lot each Bidder must fully correctly & legibly complete a registration form supplied by the Auctioneer thereby expressly accepting these Terms without qualification or reservation. Any Bid given by a Bidder not registered in accordance with this clause, may, at the option of the Auctioneer, be disregarded.

4. Each Lot shall be the subject of a separate contract of sale completely and exclusively governed by these Terms.

5. The Auctioneer may, without reason, at its sole discretion, refuse to accept any Bid, withdraw any Lot at any time, vary the order in which Lots catalogued are to be auctioned or make any alteration to these Terms before the completion of the sale.

6. Every Bid shall be at least 5% higher in monetary terms than the previous Bid. No Bidder may retract any Bid. This auction is subject to a right bid on behalf of the Vendor, which right is expressly reserved by or on behalf of the Vendor. The Vendor or Auctioneer may make any number of Bids for any Lot.

7. Subject to any reserve, the highest Bidder shall be the Purchaser upon the fall of the hammer. In the event of any dispute the Purchaser shall be determined by the Auctioneer in such manner as the Auctioneer in its sole discretion thinks fit.

8.1 Unless agreed with the Auctioneer prior to bidding for any Lot:

(a) the Purchaser shall before leaving the auction site pay a minimum deposit of 20% of the purchase price of

each Lot purchased or in the case of a motor vehicle $1,000.00 immediately on the fall of the hammer; and

(b) the balance of purchase price shall be paid, at the Auctioneer’s offices or at any other place nominated by the Auctioneer, before the removal of any Lot, and in any event within 24 hours of the purchase of that Lot.

8.2 No Lot shall be removed without the consent of the Auctioneer and payment of the balance of the purchase price. Subject thereto all Lots shall be removed within 24 hours of the purchase of that Lot. The Terms are strictly Cash, Bank Cheque, Eftpos Debit Cards, and Credit Cards: Visa, Mastercard, and Bankcard. Credit Cards incur a surcharge.

8.3 Time is of the essence in respect of clauses 7, 8.1 and 8.2

9. The Bidder shall inspect Lots and satisfy itself as to the condition of each Lot before bidding. Illustrations in catalogues are for general identification purposes only. The Purchaser expressly agrees that it has, prior to bidding, inspected the purchased Lot and in purchasing the Lot, relied entirely on its own judgement and not on any statements or representations made by the Auctioneer or Vendor. In addition, the Auctioneer does not warrant that any electrical or mechanical appliance, plant and/or equipment complies with the requirements of any Federal or State Workplace Health and Safety Acts and Regulations. Buyers acknowledge any Lot offered for sale as unfit for use or otherwise use independent professional advice to establish for themselves the fitness or suitability for use. The Auctioneers and Vendors also warn buyers that NO ITEM shall as a result of it’s presentation as a Lot in this sale be deemed to be either in compliance or otherwise necessarily capable of being placed in compliance with any regulation, code, certification, standard, calibration, licensing, operation, or any other process that may be a prerequisite for their legal or proper use.

10.1 Subject to conditions and warranties prescribed by statute which cannot be excluded (“prescribed terms”) the liability of the Auctioneer and Vendor for a breach of prescribed terms is limited at the option of the Auctioneer or Vendor to the replacement, equivalent supply or repair of the Lot supplied or the cost of any of these items.

10.2 Subject to prescribed terms and clause 10.1, the auctioneer and Vendor shall not be liable for any loss, damage or injury of any kind whatsoever, whether arising from the performance, description, misdescription or identification of Goods, the entry of persons onto auction premises or otherwise (including, without limitation, loss, damage or injury caused by the default or negligence of or misrepresentation by the Auctioneer or the Vendor and any incidental and consequential loss, damage or injury), to any person or property.

11. If a Purchaser fails to comply with these Terms any money paid, partly paid or deposited shall be forfeited. Any Lot not fully paid for or removed or both within the time prescribed in clause 8.2 may at the Auctioneer’s or Vendor’s option be both stored at the defaulting Purchaser’s risk and expense or resold. In which case, any deficiency whatsoever shall be made good by the defaulting Purchaser, without prejudice to any rights or remedies of the Vendor or the Auctioneer.

12. If a deficiency arises between the quantity of goods described at the time of auction or purchase and that available at the time of delivery the Purchaser shall take that quantity and the Vendor or Auctioneer or both shall be required to effect delivery of only the quantity so available and no compensation will be payable in respect of such deficiency.

13. The Auctioneer is acting solely as agent for the Vendor. Claims or actions in any way relating to the Lots auctioned should be made against the Vendor.

14. Title to a Lot auctioned shall remain with the Vendor until the full purchase price and all other sums payable in respect of the Lot are paid in full, and all cheques cleared.

15. A Lot shall be held at all times after purchase (whether or not the Lot is to be delivered to the Purchaser by the Auctioneer or Vendor) at the Purchasers risk and expense in respect of loss or damage from any cause whatsoever including the Auctioneer’s or the Vendor’s or any other person’s negligence, and taxes and charges of any kind. The Auctioneer will announce whether the items being sold include or exclude GST. The Buyer will pay GST where and when applicable.

16. Subject to clause 8.2, the Purchaser shall remove purchased Lots from the Auctioneer or the Vendor’s premises with reasonable skill, care and attention and shall bear the cost of making good any damages or injury caused to the Auctioneer’s or Vendor’s premises as a result of removing purchased Lots.

17. Unless agreed in writing with the Auctioneer, the Purchaser’s to arrange removal and delivery of a purchased Lot. Where it is agreed in writing that a purchased Lot is to be removed or delivered to the Purchaser by the Auctioneer or Vendor, the Lot shall be delivered at the Purchaser’s expense. When delivering Lots the Auctioneer or Vendor shall be under no liability for any loss, damage or injury of any kind whatsoever (including, without limitation, loss, damage or injury caused by the default or negligence of or misrepresentation by the Auctioneer or the Vendor and any incidental and consequential loss damage or injury) to any person or property.

18. A provision of or a right created under these terms and conditions may not be waived except in writing signed by the party granting the waiver.

19. This agreement shall be governed by the law of Queensland E & O E.

20. Delivery – There will be no Delivery of goods whilst the sale is in progress.

21. All vehicles are sold as unregistered unless otherwise stated by the Auctioneer.

22. Buyers Premium – The buyer agrees to pay any buyers premium applicable to an Auction Sale on top of the knockdown price at a rate announced and advertised prior to the commencement of the auction.

LAUDISTON PTY LTD