Asset Realisation Services Ltd
Terms for Buyers and Conditions of Sale
TERMS FOR BUYERS
1. CONTRACT FORMATION
1.1 All sales are conducted subject to Asset Realisation Services Ltd ASSET REALISATION SERVICES LTD Terms for Buyers and Conditions of Sale which are printed in the sale catalogues and published on the website. The Buyer agrees to be bound by the Terms for Buyers and the Conditions of Sale and acknowledges that the Seller is to be bound by the ASSET REALISATION SERVICES LTD Terms for Sellers.
1.2 You MUST NOT bid if you disagree with any of the terms & conditions set in these Terms for Buyers and set out in the Conditions of Sale below.
1.3 BY BIDDING ON ANY ITEM IN THIS AUCTION YOU ARE AGREEING TO ACCEPT THE ASSET REALISATION SERVICES LTD BUYERS TERMS AND THE CONDITIONS OF SALE TO THE EXCLUSION OF ALL OTHERS.
1.4 In the event of a conflict between these Terms for Buyers and the Conditions of Sale, the Terms for Buyers shall prevail.
1.5 Time shall be of the essence in respect of any obligation of the Buyer.
2. IDENTITY VERIFICATION
2.1 Anyone intending to bid is required, prior to bidding, to supply their name and address and, if requested, their bank and other suitable references. Proof of identity such as a passport or photographic driving licence may be required. Items will be invoiced to the name and address supplied on the registration form and this cannot be changed after the sale has completed.
2.2 As part of our ongoing identity verification programme, ASSET REALISATION SERVICES LTD are committed to making the bidding process fair and equal for everyone, we may randomly select accounts in order to verify contact details.
2.2 ASSET REALISATION SERVICES LTD may temporarily suspend any selected account, email the contact and ask for a call back to check details upon which we will reinstate the account for bidding. Please ensure that your details are up to date, if no contact is made to our Identity Verification Team within 24 hours, the account will remain suspended and bidding shall not be allowed.
3.1 ASSET REALISATION SERVICES LTD are (unless stated otherwise) contracting as agents for the seller.
3.2 In some auctions the identity of the Seller will not be revealed. In such circumstances the seller will not be treated as an undisclosed principal and ASSET REALISATION SERVICES LTD disclaims all liability in respect of any contract entered into between you and any unidentified Seller.
3. APPRAISALS AND ERRORS
3.1 ASSET REALISATION SERVICES LTD do not warrant ANY Lot and no warranty is implied by law. Every Lot in every auction is sold as seen. Any Bid placed will be treated as absolute evidence that the bidder has completely contented themselves with the condition of the item or items.
3.2 ASSET REALISATION SERVICES LTD aim to provide an accurate description of items, but, it is the absolute responsibility of the prospective buyer to inspect an items condition and suitability. ASSET REALISATION SERVICES LTD do not test any equipment presented in this or any auction and all items are sold with no warranty implied or otherwise. The Sale of Goods Act does not apply.
3.3 ASSET REALISATION SERVICES LTD offer viewing days for potential buyers to inspect goods. Bidders placing bids without inspection beforehand, do so at their own risk. Inspections outside of the allocated viewing days are strictly be appointment. Please Contact ASSET REALISATION SERVICES LTD on 01772 696500 or email@example.com to organise an inspection.
3.4 Where any factors such as dimension, colour, condition, age or other statistics are important, please ensure you inspect items before you bid.
3.5 Please be aware that if you, your representatives or agents wish to inspect any item you must abide by the prevailing site rules. Please note that is your responsibility to supply your own PPE and adhere to all health and safety measures. Anyone not wearing appropriate PPE will not be allowed access to the site under any circumstances.
3.6 No statement made by any employees of ASSET REALISATION SERVICES LTD either prior to or during the auction in respect of the condition, dimensions or functionality of any item shall be deemed to be a representation inducing the buyer to enter into the contract. If such statement is required, it will only be deemed to be a representation if placed onto letter headed paper of ASSET REALISATION SERVICES LTD and signed by a director of ASSET REALISATION SERVICES LTD. ASSET REALISATION SERVICES LTD may refuse to make such a representation at its absolute discretion.
4. PRICE ESTIMATES
4.1 Estimates are intended for guidance only.
4.2 Estimates do not include the Buyer's Premium or VAT.
4.3 Estimates may be altered by announcement before the sale. This clause shall apply to estimates printed in the auction catalogues, published on ASSET REALISATION SERVICES LTD website (or on any website in which our catalogue is published), or supplied verbally by ASSET REALISATION SERVICES LTD.
5. BIDDING AND RESERVES
5.1 All bids shall be offers made upon the Terms for Buyers and Conditions of Sale. Certain lots in all sales may be subject to reserve prices. Once a Bid is placed it cannot be retracted.
5.2 When you are placing bids you are entering into a legally binding contract to pay for the Lot. Vendors occasionally ask us to remove reserves on items at auction. In such circumstances your highest bid will still be a valid bid should it be below an initial reserve and the reserve is subsequently removed. The term ‘Reserve Not Met’ means the Seller has a discretion to sell at a lower price than the reserve.
6.1 Payment must be made within 2 days of the auction ending.
6.2 When bidding, you are entering into a legally binding contract to purchase the Lot(s) upon which you have Bid. There will be no refunds or allowance given after the closure of the bidding process. Your bid is your commitment to purchase and is legally enforceable against you. ASSET REALISATION SERVICES LTD will take such steps as it deems appropriate to enforce the contract.
6.3 ASSET REALISATION SERVICES LTD will take steps to recover any monies due either through the courts or via debt collection agencies for non-payment. Additionally, your details will be handed over to ASSET REALISATION SERVICES LTD and your account suspended from future auctions.
6.4 ASSET REALISATION SERVICES LTD accept payment by BACS, debit/ credit card and via online payment request from ASSET REALISATION SERVICES LTD . Please contact us by telephone for the provision of our bank details. When making payment please include details of your buyer and auction number to enable the efficient allocation of payments by ASSET REALISATION SERVICES LTD.
6.5 If you have failed to settle your invoice(s) within the specified time, ASSET REALISATION SERVICES LTD reserve the right to take payment from your registered card held with Asset Realisation services ltd and charge an additional 20% of the value of the lot to reduce the administrative cost to ASSET REALISATION SERVICES LTD in respect of the recovery of the late payment. Interest will be charged on any outstanding sum at the court rate from the date it becomes due to the date of payment.
6.6 Please note our preferred payment method is via BACS this ensures you receive your collection note as quickly as possible.
6.7 If paying by secure card payment link this type of payment can take up to 72 hours to show in our account. Please be aware if paying by secure link your collection note can only be sent once we have received cleared funds and can take up to 3 days.
7. COLLECTION AND STORAGE
7.1 You have 7 days from payment of invoice to collect any Lots purchased by you.
7.2 Collections are strictly via appointment with ASSET REALISATION SERVICES LTD. If you bid and do not remove your items, your card will be charged, and you will forfeit your items. Please contact ASSET REALISATION SERVICES LTD on 01772 696500 or firstname.lastname@example.org to arrange collection.
7.3 Collection from site is the Buyer’s responsibility, neither ASSET REALISATION SERVICES LTD or the Seller provide a packing/ delivery service.
7.4 If this time for collection of Lots set out in clause 7.1 is exceeded, then a storage charge of £40+VAT per day per Lot will be issued.
7.5 If the total amount due in storage charges is greater than the value of the lots, then we reserve the right to take the goods in respect of payment of any outstanding storage fees.
8. IMPORTANT COMMUNICATION INFORMATION
8.1 ASSET REALISATION SERVICES LTD are aware that some email accounts block attachments - e.g. Hotmail, BTinternet, Live and MSN. It is vital that you add the ASSET REALISATION SERVICES LTD Domain Name (www.Asset Realisation Services Ltdauctions.co.uk) to your 'Safe Sender' list, otherwise you may not receive your invoice or other communications.
8.2 We will take enforcement action in accordance with these terms even if you have not received your invoice or other communication from us due to the aforementioned circumstances.
GENERAL CONDITIONS OF SALE
1.1. In these General Conditions the following words and expressions shall have the meanings set opposite:
“Auction” any auction (whether a Live Auction or an Online Auction and whether conducted independently or simultaneously) conducted pursuant to these General Conditions and the Special Conditions;
“Auctioneer” the person conducting the Auction or to whom the conduct of the Auction is delegated under General Condition 4.9 below;
“Bidder” any person who offers to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender;
“Bid” an offer to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender, and “Bids” and “Bidding” shall be construed accordingly;
“Buyer” any person who agrees to purchase any Lot whether at Auction or by private treaty or tender and as determined under General condition 4.12 below;
"Buyer`s Premium" a commission payable by the Buyer on the completion of a Sale the amount of which is set out in the Special Conditions; The Auctioneer, when acting as Agent for the Seller, may also receive commission from the Seller.
“Catalogue” the catalogue incorporating these General Conditions and the Special Conditions;
"Clearance Date and Time" the date and time on which all Lots must be removed by the Buyer from the Location as specified in the Special Conditions;
“The Company” Asset Realisation Services Ltd registered address is Moss Side Farm, ARS, Smith's Ln, Sollom, Preston PR4 6HT
"Deposit" the sum payable by the Buyer to the Company as set out in the Special Conditions;
"Live Auction" any auction conducted at the Location or at such other location(s) as shall be notified by the Company in the Special Conditions or in the Catalogue;
“Location” the premises at which the Lots are located, details of which are set out in the Special Conditions;
“Lot” any Lot described in the Catalogue, on the Website or on the Company’s invoice;
"Online Auction" any auction conducted over the internet via the Website pursuant to these General Conditions and the Special Conditions;
"Sale" the sale of any Lot by Auction, private treaty or tender and as determined under General Condition 4.11 below;
“Seller” the person upon whose instructions the Company is conducting the Sale, details of whom are set out in the Special Conditions;
“Special Conditions” any additions to these General Conditions set out or referred to in the Catalogue, announced at Auction or otherwise specified by the Company;
"VAT" value added tax chargeable under English Law for the time being and any similar additional tax.
2. Application of these General Conditions
2.1. These General Conditions apply to every Sale of plant and machinery, chattels and trade stocks conducted by the Company.
2.2. These General Conditions, the Special Conditions, the Buyers Terms and any terms set out in the Catalogue shall together comprise the "Conditions of Sale".
2.3. To the extent that these General Conditions are inconsistent with any Special Conditions, the General Conditions shall prevail.
2.4. Bidding for any Lot shall be deemed to be an acceptance by the Bidder of these General Conditions and the Special Conditions.
2.5. These General Conditions shall be governed construed and enforced in accordance with the laws of England and Wales unless the Location is in:-
2.5.1 Scotland in which case the laws of Scotland shall apply; or
2.5.2 Northern Ireland in which case the laws of Northern Ireland shall apply.
2.6. A reference to writing or written shall include e-mail.
2.7. Any word or phrase having a meaning defined in these General Conditions shall have the same meaning when used in the Special Conditions.
3. Identity of the Parties
3.1. The Company offers each Lot as agent of the Seller and not as principal unless otherwise indicated in the Catalogue.
3.2. The identity of the Seller is set out in the Special Conditions.
3.3. Unless the Company has previously acknowledged in writing that the Bidder Bids as agent on behalf of a named principal, every Bidder shall be taken to Bid on his own behalf as principal.
3.4. Any Bidder acting as agent on behalf of a named principal shall remain liable to the Seller and the Company for all obligations and liabilities of his principal jointly and severally with the principal. The Bidder warrants that he has the authority of his principal to make each Bid made.
3.5. Every Bidder is required to give his name and address and provide satisfactory proof of identity and such other information and documentation as is required to the Company before making any Bid and in the case of:
3.5.1. a Live Auction by the completion of a registration form;
3.5.2 an Online Auction by online registration at the Website; and
3.5.3 a private treaty or tender by prior registration or notification of details, as and when requested by the Company.
3.6 The Company reserves the right at any time to reject the registration of any persons and refuse access to the Auction at its sole discretion.
3.7 On registration for an Online Auction Bidders will be added to the Company`s mailing list for the purposes of notification of future sales by email. If a Bidder wishes to stop receiving such notifications, they can unsubscribe at any time by clicking on the link provided at the bottom of each email.
3.8 On registration in accordance with General condition 3.5 the Bidder acknowledges that only adults aged 18 years and over are entitled to enter in to a legally binding contract and as a result they are the only people entitled to register for the Auction. By registering the Bidder warrants that he is aged 18 years or older and is capable of forming a legally binding contract.
4. Conduct of Auctions
4.1 Any Lot may be subject to a minimum bid or reserve price. The Seller is entitled to change these at any time before the conclusion of the Sale.
4.2 The Seller, Auctioneer or any representative, agent or person acting on behalf of the Seller may Bid for any Lot. Persons entitled to Bid pursuant to this condition 4.2 shall be entitled to place Bids on any Lot up to the reserve price including by placing Bids in response to other Bidders.
4.3 Lot descriptions will be amended as appropriate as and when information becomes available to the Company. Prospective Bidders must read Lot descriptions before making a Bid so that they are fully aware of any amendments to the description appearing in the Special Conditions and/or on the Website or in the Catalogue in relation to a particular Lot.
4.4 The Auctioneer may at any time before the conclusion of the Sale withdraw or divide any Lot or combine any Lots.
4.5 The Company may sell any Lot by private treaty or tender before or after the Auction. The Auctioneer may reject any Bid at his sole discretion and without being required to give a reason.
4.6 No Bid shall be retracted without the consent of the Auctioneer.
4.7 The Auctioneer may where there is a dispute between Bidders, summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason.
4.8 The Auctioneer shall in every other respect decide how the Auction is to be conducted and without being required to give a reason.
4.9 The Auctioneer may in his sole discretion delegate to a person whom he believes to be competent the conduct of the Auction in accordance with these General Conditions.
4.10 The Auctioneer may from time to time act jointly with an associated Auctioneer who will be named in the Catalogue and/or in the Special Conditions.
4.11 A Sale is concluded (constituting acceptance of the Bidder`s offer, subject to General Condition 4.12 below) when:
4.11.1 in the case of a Live Auction, on the fall of the Auctioneer`s hammer; and/or,
4.11.2 in the case of an Online Auction, at the close of the timed Online Auction Sale as specified on the Website and as defined by General Condition 4.17.3 below or;
4.11.3 in the case of a private treaty or tender, when the Bidders Bid is accepted by the Company, such acceptance to be communicated to the Bidder in writing by way of receipt of the Company’s invoice.
4.12 The Buyer shall be the person who made the highest Bid before the conclusion of the Sale pursuant to General Condition 4.11 above subject to approval and acceptance by the Company, the Auctioneers and the Seller or such other Bidder as the Auctioneer and/ or the Company may declare to be the Buyer without being required to give a reason. The Auctioneer and/ or the Company and/ or the Seller is not bound to accept the highest Bid or any other Bid placed in the course of the Auction.
4.13 In the case of an Online Auction the Buyer, as determined under General Condition 4.12 above, shall within a reasonable time after the conclusion of the Sale receive by email an invoice in respect of the monies due for the Lot(s) purchased.
4.14 In the event that the reserve price is not met, the Company may consider the Bids received below the reserve price with the Seller who at its sole discretion may accept, reject or place a counteroffer.
4.15 On conclusion of the Sale and acceptance of the Bidders Bid pursuant to General Conditions 4.11 and 4.12 above, the Buyer acknowledges and agrees that he has entered into a contract with the Seller to buy the Lot and the Buyer must complete the transaction to purchase the Lot.
4.16 The Buyer may not remove any Lot he has bought until after the end of the Auction.
4.17 In relation to an Online Auction:
4.17.1 the Company cannot guarantee that the internet services will operate continuously or without interruptions and this could affect the conduct of the Online Auction and the Bidders ability to Bid online. The Company shall not be liable in any respect in the event of any dispute due to errors, omissions or disruptions to internet services or power failures or any other unforeseen circumstances which may occur during the Online Auction;
4.17.2 the Auctioneer may at any time, without notice, postpone or cancel an Online Auction or extend an Online Auction beyond the published closing time (including extension of the timed Online Auction in accordance with General Condition 4.17.3 below);
4.17.3 the timed Online Auction Sale is auto bid extension enabled meaning that where a Bid is placed within ten minutes of the original scheduled close of the timed Online Auction the scheduled close of the timed Online Auction will automatically be extended by an additional ten minutes. This continues with a new scheduled close time each time a Bid is placed until no-one places a Bid before the last scheduled close of the timed Online Auction. Every time a Bid is placed within ten minutes or less left in the Online Auction an additional ten minutes Bidding time is added until there are no more Bids. Such time shall then be deemed to be the close of the timed Online Auction.
4.18 In the event that the Auctioneer unknowingly sells a Lot that was not eligible for Sale (i.e. there is a third-party interest that comes to light) then the Auctioneer shall be entitled to immediately rescind that Sale without any further liability to the Auctioneer and/or Company or the Seller.
4.19 Copies of the Auctions (Bidding Agreements) Act 1927 and 1969 are held at the Company’s and/or the Auctioneer’s principal place of business.
5. Sale and Payment
5.1 The Buyer shall pay the following sums to the Company in full and without set off: -
5.1.1 immediately upon the Sale of any Lot the Deposit, if requested by the Company; and
5.1.2 the balance of the price of the Lot purchased, together with the Buyer’s Premium by no later than 48 hours after conclusion of the Sale or, in the case of an Online Auction, after receipt of an invoice in respect of the purchased Lot(s) pursuant to General Condition 4.13 above, or such other time and date as may be specified in the Special Conditions; and
5.1.3 any other payment or amount due to the Seller and/or the Company pursuant to these General Conditions or the Special Conditions on demand.
5.2 In every case time for payment shall be of the essence.
5.3 In view of Money Laundering Regulations the Company reserves the right to refuse payment in cash. Payments in cash of more than £7,500 will not, in any circumstances, be accepted.
5.4 If the Buyer fails to make any payment on the due date for payment then, without limiting any other right or remedy available to the Seller, the Buyer shall pay to the Company interest (both before and after any judgment) on the amount unpaid at the rate of 1.5% above the bank base rate of Barclays Bank Plc per month or any part thereof until payment in full is made.
5.5 Until the Buyer has fully complied with its obligations in this General Condition 5:-
5.5.1 title to any Lot bought shall not pass to the Buyer;
5.5.2 the Seller shall have a lien over any Lot bought by the Buyer in the Auction;
5.5.3 if the Buyer effects or purports to affect a resale or any other disposition of all or part of the Lot, the Buyer shall hold the proceeds of resale or other disposition on trust for the Seller.
5.6 All sums payable under these General Conditions and the Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company. On written request by the Buyer the Company will provide a VAT invoice.
5.7 The Company will only accept payment under this General Condition 5 from the Buyer or its authorised agents.
6. Removal of Lots
6.1 Risk of damage to or loss of the Lot shall pass to the Buyer immediately upon the conclusion of the Sale.
6.2 The removal of Lots from the Location shall be undertaken by the Buyer entirely at its own risk and without any liability whatsoever to the Company.
6.3 Buyers are responsible for any-and-all costs and expenses incurred in relation to the removal of Lots and any other applicable charges, taxes and insurance costs.
6.4 The Buyer may not remove any Lot until the Buyer has: -
6.4.1 paid by cleared funds all amounts payable pursuant to General Condition 5 above in full; and
6.4.2 if requested by the Company produced satisfactory evidence to the Company that the Buyer has adequate public liability insurance in respect of the indemnity set out in General Condition 6.11 below and/or deposited with the Company, by way of security for the costs of making good any damage likely to occur, such sum as the Company may stipulate.
6.5 The Company will only permit the removal of Lots purchased by the Buyer or its authorised agents.
6.6 The Buyer must remove each Lot purchased by the Clearance Date and Time for which time shall be of the essence. Lots may only be removed during normal working hours or such hours as are specified in the Special Conditions. No clearance on Bank or Public Holidays.
6.7 Buyers should co-operate regarding order of removal of Lots in order to comply with the Clearance Date and Time. If it transpires that a Buyer makes no effort to commence dismantling and the particular Lot is preventing other buyers from removing purchased Lots, then the Auctioneer reserves the right to insist that removal take place immediately notwithstanding the specified Clearance Date and Time. In the event the Buyer does not comply with its obligations under this General Condition 6.7, then the Auctioneer reserves the right to arrange for the removal and/or storage of the Lot and charge any attendant costs to the Buyer.
6.8 If any Lot is unsold and has to be dismantled & lowered to allow the removal of any other lot, then such dismantling & lowering shall be the responsibility of the Buyer of the relevant Lot(s).
6.9 Title to computer software sold pursuant to the Sale of a Lot is not transferred under any Sale to the Buyer and use is subject to any licence or copyright restrictions and user conditions. The Sellers, Company and/or Auctioneers reserve the right to erase any private or sensitive information prior to the Sale or at any later date.
6.10 The Buyer and/or his removal contractor must liaise with the Company`s site representative prior to commencing dismantling/removal of a Lot from the Location and must at all times comply with its obligations under clause 6.11 below.
6.11 When removing any Lot from the Location the Buyer shall, or shall procure that its removal contractors shall:
6.11.1 carry out a full assessment of Lot, the Location and the land or buildings to which the Lot is fixed to assess the risks associated with detaching/removing the Lot and shall fully satisfy themselves that they can detach/remove the Lot in compliance with the Buyers obligations under this General Condition 6.11 prior to handling and/or commencing removal of a Lot;
6.11.2 obtain all relevant planning permissions (where required) in relation to the removal of building structures and plant housings;
6.11.3 buyers of Lots will be required to make good holes or voids exposed by the removal of Lots. Cladding taken off buildings for removal of plant & equipment will have to be replaced, unless otherwise specified by the Company;
6.11.4 when detaching any Lot fixed to land or buildings, do so safely and lawfully and must not use flame cutters, explosives or any other dangerous equipment or process without first obtaining written consent of the Company;
6.11.5 remove the Lot in compliance with all relevant legislation, regulations, codes of practice, guidance, orders, rules and other requirements of any relevant government or governmental agency or authority whether Parliamentary, statutory, parochial or local including (without limitation) in compliance with the Health and Safety at Work etc. Act 1974, the Environmental Protection Act 1990, The Construction (Design and Management) Regulations 2007, Control of Substances Hazardous to Health Regulations 2002 (COSHH), and the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof and all other health and safety and environmental legislation in existence at the time of the Sale. To the extent that such regulations are advisory rather than mandatory, the standard of compliance to be achieved by the Buyer shall be to the best industry practice;
In all cases arising under this General Condition 6.11 the costs of compliance shall be borne by the Buyer and the Buyer hereby indemnifies the Company and the Seller against all losses, costs, expenses, damages, liabilities, demands, claims, actions and proceedings which the Company and/or the Seller may incur arising directly or indirectly out of any breach by the Buyer to the provisions of this General Condition 6.11 and the Buyer shall make good any damage caused to (without limitation) other lots, the Location or to any property belonging to third parties, in removing any Lot under this General Condition 6.11.
6.12 The Company shall be entitled to halt the clearance of any Lot if in its absolute discretion the removal of a Lot is being carried out in an unsatisfactory manner. Where the clearance is halted by the Company, the Buyer must liaise with the Company`s site representative as to how the Lot should be removed from the Location provided that the Buyer shall at all times ensure that it complies with its obligations under General Condition 6.11 above and the Company shall have no liability in this regard.
6.13 The Buyer shall provide evidence as and when requested by the Company of the Buyer`s insurance policies in respect of the following insurances and at a minimum level of:
6.13.1. Public Liability Cover - limit Two Million Pounds (£ 5,000,000); and
6.13.2. Employers Liability Cover - limit Ten Million Pounds (£10,000,000);
the Company reserves the right to vary the level of insurance cover stated above at any time, as and when required.
6.14 The Buyer shall provide to the Company a Risk Assessment & Method Statement complying with The Construction (Design & Management) Regulations 2007, COSHH or with any subsequent amendments thereof or such other legislation as shall from time to time be in force.
6.15 Electric, gas, water, steam and waste disconnections are the responsibility of the Buyer and MUST be carried out by an approved contractor following consultation with the site representative.
6.16 It is expressly brought to the Buyer’s attention that certain Lots could contain blue or white asbestos, dangerous chemicals etc. which if not handled correctly during their removal could result in breach of Health & Safety at Work legislation and/or Control of Substances Hazardous to Health Regulations or other statutory requirements.
6.17 Any fluids, gases and/ or waste remaining in plant and machinery are the responsibility of the Buyer and MUST be removed from the Location strictly in accordance with any applicable statutory requirements.
6.18 The Buyer must use safe and lawful means of removing the Lot, must comply with all current statutory requirements and regulations including those relating to the disposal and removal if waste, and if required, satisfy the Company in relation to their removal procedures; in particular the removal of waste materials must be undertaken by an approved and licensed contractor to an approved waste management site.
6.19 It is the purchaser’s or their removal contractor’s responsibility (i.e. Police, Ministry of Transport, Local Authority) to transport off site long/ wide loads, within sufficient time prior to the commencement of clearance period as stated in the Special Notes & Conditions.
6.20 The Buyer shall indemnify the Company and the Seller against any loss, damages, expenses, claims or liabilities arising directly or indirectly from the possession or use of the Lot after title to the Lot has passed to the Buyer but before it is removed from the Location.
6.21 All Lots are sold on the understanding that the Seller does not represent them as being in a condition which makes them suitable for domestic use. If any Lots are intended for domestic use the Buyer must ensure that they comply with the requirements of the Furniture & Furnishings (Fire) (Safety) Regulations 1988 and any subsequent amendments thereof or such other relevant statutory requirements or regulations as shall from time to time be in force.
6.22 The Buyer undertakes to comply with the provisions of the Data Protection Act 1998 in processing data held by them in connection with any Lot.
7. Default by the Buyer
7.1 If the Buyer has failed to pay the sums specified in General Condition 5 above in full by the payment due date, or to remove any Lot purchased by the Clearance Date and Time specified in the Special Conditions the Seller may rescind the Sale of that Lot, any Deposit already taken shall be forfeit, and the Auctioneer may sell that Lot privately or by Auction.
7.2 If the Seller rescinds the Sale and the Auctioneer or the Seller resells the Lot, the Buyer shall cover the costs of deficiencies including:
7.2.1 the costs of reselling the Lot; and/or
7.2.2 the sale price less the resale price.
7.3 If the Buyer fails to remove any Lot by the Clearance Date and Time specified and as a result the Seller is unable to give vacant possession in the premises from which the Lot should have been removed, the Buyer shall compensate the Seller for any loss arising from their failure to give vacant possession.
7.4 When the Buyer has removed the Lot purchased, but the Seller rescinds the Sale, the Seller shall be entitled upon written notice from the Buyer, to enter the premises where he believes the Lot to be and remove it in a safe manner.
7.5 the Seller may remove the Lot from the Location and leave it outside at the Buyer’s risk in all respects;
7.6 the Seller may charge the Buyer for the cost of storing the Lot;
7.7 the Seller may charge the Buyer expenses, rent, taxes and wages incurred from the Lot being stored at the Location; and
7.8 the Buyer shall indemnify the Seller against any expenses, loss, claims, damages or liabilities incurred by the Seller due to the Buyer's failure to remove the Lot from the Location.
7.9 If at any time the Buyer in any way breaches or defaults under any of these Conditions, the Auctioneer reserves the right to issue proceedings 28 days after the Buyer's initial default or breach of these terms.
7.9.1 The Auctioneer's claim shall include, but not limited to any legal fees, administration charges, loss of earnings and storage charges associated with the Buyer's breach or default (all amounts will exclude VAT).
7.10 The Auctioneer reserves the right to recover any outstanding charges from the Buyers payment card used to register for the Auction.
7.10.1 If the card used to register is registered to a third party, does not have the funds on it to cover the cost or is fraudulent, a £25 plus Vat fee will be added to the invoice.
7.10.2 If we have to take payment from a registered card due to non payment we will take amounts in the following order: the whole amount, half the amount, one quarter of the amount, £100, £50 then our premium plus Vat.
7.10.3 Bidders who submit charge backs after non payment of an invoice will be charged the following:
(a) Administrative charge of £250 plus VAT to defend the charge back.
(b) Storage charges will start immediately the Charge Back notification is received from our bank for a minimum of 28 days at a rate of £50 per item per day, plus Vat. We will also look to recover all of our premium.
(c) All Chargebacks will be pursued through the courts.
7.10.4 Invoices that are outstanding 10 days after the end of the Auction will have the funds debited direct from registered bank card. This will include but not limited to the Buyer’s Premium, storage and transport costs and Vat.
7.11 If the Auctioneer issues proceedings the following costs shall be payable by the Buyer:
7.11.1 the solicitor costs for the issuing of proceedings;
7.11.2 the cost of the initial letter sent by the solicitor; and
7.11.3 any court fees that are incurred, including but not limited to lost wages, travel costs and hearing fee.
7.11.4 Our solicitors rate for attending court plus VAT per hour, plus expenses.
7.11.5 Our staff rate for processing a legal claim plus VAT per hour plus expenses.
7.12 Any Buyer who is in default or breach under these terms shall be banned from all our Auctions held by the Auctioneer.
8. Acknowledgements and Exclusion of Warranties
8.1 The Buyer acknowledges that in agreeing to purchase any Lot he is not relying on any warranties or representations made by the Seller or the Company or any of their employee’s agents or representatives. All representations, warranties and conditions, express or implied, statutory or otherwise in respect of all and any of the Lots are expressly excluded and without limitation any warranties and conditions as to title, quiet possession, satisfactory quality, fitness for purpose and description are excluded to the fullest extent as permitted by law.
8.2 The Buyer further acknowledges that neither the Sellers nor the Company shall in any circumstances be liable to or to compensate the Buyer nor shall the Buyer be entitled to rescind the Sale or reject any Lot for an error omission or misstatement contained in the Catalogue and/or in the Special Conditions.
8.3 The Buyer also acknowledges that: -
8.3.1 all the Lots are purchased on the basis that risk of good title to all or any of them passing to the Buyer is at the Buyer’s risk and without limitation the Lots are sold subject to any claims, liens, distraint and execution and subject to all leasing, hire or hire purchase agreements and reservation of title claims (if any) in respect of them;
8.3.2 if it shall be found that the Seller does not have title to all or any of the Lots the Buyer shall have no right to rescind, avoid or vary this agreement or to claim damages or a reduction in the price paid or payable;
8.3.3 anything found in, under, near or in any Lot which is not specifically included in the description of the Lot remains the property of the Seller;
8.3.4 any intellectual property rights or software subsisting in a Lot may be third party property and as such the Seller and/or the Company may be unable to effect transfer. The Buyer will not be authorised to use intellectual property rights or software and any such use or transfer shall be at the Buyers sole risk.
8.4 The Buyer undertakes that it shall ensure that any vehicle comprised in any Lot is in a roadworthy condition in accordance with the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof or such other relevant regulations as shall from time to time be in force before using it on a public road. It is the Buyer’s responsibility to remove Company logos and lettering from vehicles. Odometer readings are not warranted.
8.5 The Buyer acknowledges that any item of plant, machinery or equipment contained in the Lot(s) may not necessarily comply with any statutory requirements or regulations governing the use of that plant, machinery or equipment in their working environment. Neither the Seller nor the Company shall incur any liability to the Buyer because of any default or defect in all or any of the Lots. Buyers are entirely responsible for ensuring that the use of any item of plant, machinery or equipment does not contravene any health and safety and environmental legislation in existence at the time of the Sale.
8.6 The Buyer acknowledges and agrees that the Company is acting only as agent of the Seller and it is expressly agreed and declared that no personal liability in connection with the Sale of any Lot or otherwise shall fall on the Company and the Buyer shall indemnify the Company against all and any liabilities arising under or in connection with the Sale of any Lot. Insolvency Practitioner(s), including Administrative Receiver(s), Administrator(s) and Liquidator(s) act as agent(s) for the Seller without personal liability and shall incur no personal liability whatsoever in relation to a Sale or pursuant to any document relating thereto.
8.7 The Buyer agrees that the General Conditions and the exclusions which they contain are fair and reasonable bearing in mind that: -
8.7.1 the Buyer must rely absolutely on the Buyer’s own opinion and/or professional advice concerning the quality, state, condition, performance and functionality of the Lots any right, title or interest which is sold under the terms of these General Conditions, their fitness and suitability for any particular or any purpose, the possibility that some or all of them may have defects not apparent on inspection and examination including, without limitation, the presence of contamination and the possibility that the Buyer may not acquire title and the fact that the Buyer would have no remedy under this Agreement should that happen;
8.7.2 the Buyer has available to it skilled professional advice and on that basis agrees to purchase a Lot for a consideration calculated to take into account amongst other things the risk to it represented by the fact that the parties believe that all the exclusions and limitations set out in these General Conditions would be recognised as being fully effective by the Courts and the Seller making it clear that it would not have agreed to sell any Lot on any other basis except for a higher consideration;
8.7.3 the Buyer has been given every opportunity which might reasonably be expected to examine and inspect the Lots.
8.8 Notwithstanding anything else in these General Conditions, the Seller’s and the Company’s total liability under or in connection with the Sale of any Lot, whether in respect of breach of contract, tort (including negligence), breach of statutory duty or otherwise, including consequential loss, shall be limited in aggregate to the price paid for the Lot or if no price has been paid then the higher of the market value or reserve price for the Lot. This General Condition 8.8 does not apply to liability for death or personal injury.
8.9 The Buyer acknowledges that a Sale by Auction is not a consumer sale for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 and the Buyer shall not seek to rely upon and conditions or warranties implied thereby or by any other legislation.
9. Overseas Purchases
9.1 Overseas Buyers should ensure that the country to which the items are destined:-
9.1.1 holds no import restrictions on the goods to be purchased;
9.1.2 has no import licence restrictions or a restriction on currency allocation;
9.1.3 has no prolonged inspection procedure which might cause excess delay or refusal in allowing your goods to be imported.
9.2 Overseas Buyers will receive a fully descriptive invoice in order that they may arrange payment as soon as possible with the Company`s bank.
9.3 Overseas Buyers should employ a suitable freight forwarding organisation. Please note that many of the machinery removal companies in the United Kingdom are not necessarily freight forwarders. The [Seller and/or Company] will be pleased to advise accordingly.
9.4 If there are any special arrangements that the Buyer wishes to make with the Auctioneer, the Buyer must contact the Auctioneer at least three business days before an Auction takes place.
9.5 We reserve the right to insist a deposit is paid before bidding from an overseas bidder.
9.6 The Company makes no representation and accepts no liability whatsoever to any Buyer in respect of the issuance or validity of any exportation or importation permits or the existence and exercise of exportation or importation regulations or any compulsory purchasing regimes.
10 VAT Payments and subsequent refunds:
10.1 All Buyers intending to export a Lot will be charged an additional deposit equal to that of the VAT due on each Lot purchased.
10.2 In order to qualify for a refund, the Goods must be exported in accordance with relevant export regulations and in line with HMRC compliance the original documentation (not photocopies) shall be sent by the Buyer to the Auctioneer within one month of the date of export to the following address on official company headed notepaper signed by the Buyer: Asset Realisation Services Ltd Ltd, Moss side Farm, Smiths Lane, Sollom, Preston PR4 6HT.
10.3 Where satisfactory evidence is not provided, goods will be subject to UK VAT at the standard rate of export and the Buyer will forfeit any deposit they may have paid in accordance with this clause 10.
10.4 The Auctioneer is unable to refund the VAT on the Buyers’ Premium in any circumstances.
10.5 If the Buyer chooses to export their purchases using their own transport, then VAT will be levied and refunded upon satisfactory documentation supporting the removal of the Goods purchased being sent to the address set out in clause 10.2.
10.6 Notwithstanding any other clause in these Conditions the Auctioneer reserves the right to refuse:
(a) to accept any Bid from a Bidder; or
(b) to sell any Lot (in whole or in part) to a Buyer.
12) Data Protection
12.1 Both parties will comply with all applicable requirements of the Data Protection Legislation.
12.2 The Buyers and Sellers acknowledge and agree that the Auctioneer may pass their details to credit reference agencies.
13.1 A failure or delay by a party to exercise any right or remedy provided under these Conditions or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under these Conditions or by law shall prevent or restrict the further exercise of that or any other right or remedy.
SPECIAL CONDITIONS OF SALE
Seller: As displayed on www.assetrealisationservices.com sale details page or in the catalogue
Location: As displayed on www.assetrealisationservices.com sale details page or in the catalogue
Viewing: As displayed on www.assetrealisationservices.com sale details page or in the catalogue
Access to the Location is allowed on the understanding that all persons attend the Location entirely at their own risk and are responsible for and will indemnify the Seller and the Company against any losses damage or claims occasioned by their presence at the Location.
Children under the age of 16 will not be allowed access to the Location.
Registration: All bidders must register their details with the Company and provide identification where required. In the case of Live Auctions by way of the registration form provided at the Live Auction or in the Catalogue and in the case of Online Auctions, online at the Website (www.assetrealisationservices.com).
Bidding: The General Conditions and the Special Conditions apply to all Sales by way of Auction, private treaty and tender and in the case of any Bids placed by way of an Online Auction stress that all Bidders must read and understand Bidspotter’s terms and conditions of registration at www.bidspotter.co.uk.
At the close of the timed Online Auction Sale final Bid figures will be submitted to the Seller for its approval and any Bid shall be subject to approval and acceptance by the Company and/or the Seller. No Bid may be withdrawn and the Company/Seller does not bind himself to accept the highest Bid or any other Bid placed in the course of the Online Auction Sale.
Buyer`s Premium: Buyers will pay a Buyer`s premium of 15% (as displayed on www.bidspotter.co.uk sale details page or in the catalogue) (plus VAT) of the purchase price for each Lot purchased whether by Auction or, private treaty or tender. The Buyer`s Premium is payable by the Buyer to the Company in accordance with the General Conditions and, for the avoidance of doubt is payable in addition to the purchase price for the Lot. The Buyer`s Premium is not negotiable and is payable by all Buyers.
Deposit: Buyers shall pay a deposit of 25% (plus VAT) of the purchase price for each Lot purchased as requested by the Company pursuant to the General Conditions and these Special Conditions. The company reserve the right to take a deposit by way of a credit/ debit card payment from the card presented for registration if the payment terms below are not complied with.
Payment: All Lots shall be paid for in full within 2 days of the conclusion of the Sale and shall be at the Buyer`s risk immediately upon the conclusion of the sale.
Cash - In view of Money Laundering Regulations the Company reserves the right to refuse payment in cash. Payments in cash of more than £7,500 will not, in any circumstances, be accepted.
Bankers Draft/ Cheques: (Asset Realisation Services Ltd) will only be accepted on the basis that any Lots are not removed until cleared funds are in the Company`s client account.
Debit Cards: The Company accepts debit cards for payment of invoices. Credit cards will only be accepted for deposit payments referred to under the ‘Deposit’ section above.
All sums payable under the General Conditions and these Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company.
Collection from site is the Buyer’s responsibility, the Company/ Seller do not provide a packing/ delivery service.
Reserve Removal: Lots sold subject to a reserve removal will either be indicated in the Catalogue with the date of availability or will be identified by the Auctioneer at the point of Sale. A Deposit will be payable as with other lots but in this instance payment in full can be left until five (5) working days prior to availability. Unless specified to the contrary such Lots must be removed from the Location not later than the Clearance Date and Time specified for final removal in these Special Conditions.
Fire Alarm: In case of a fire alarm all visitors and contractors are to exit buildings and report to the Muster Point.
Smoking: No smoking on site. Food and Drink is only to be consumed in designated areas.
Safety: All persons including Buyers, their employees, agents, representatives and contractors are reminded that they are responsible for their own safety on site and enter at their own risk and should take the precaution of wearing protective clothing as appropriate.
Finance: If Buyers wish to purchase Lots with the help of a finance company, they should make arrangements well in advance of the Sale to ensure that they are able to make payment in accordance with the General Conditions.
The Company makes no representation and accepts no liability whatsoever to any Buyer in respect of the issuance or validity of any exportation or importation permits or the existence and exercise of exportation or importation regulations or any compulsory purchasing regimes.
Misrepresentation: Whilst every effort has been made to provide reliable information, Asset Realisation Services Ltd do not warrant the information contained herein and prospective purchasers must satisfy themselves by inspection as to its correctness.