CONDITIONS OF TENDER SALE

Persons attend the Tender Sale at their own risk and neither the vendor nor the Auctioneer will be individually or collectively responsible for any loss or damage whatsoever occasioned to any person or property which may be present on the Tender site or Premises for any purpose whatsoever.

The following special conditions of sale together with the Important Notice to Tenderes and the usual conditions of sale on display at the Auctioneers’ Enquiry Office shall govern the sale of each lot and any person making a bid which is accepted by the Auctioneers shall be in consideration of such acceptance to be bound thereby:-

1.                    The selling Agents are not bound to accept any offer.

2.                    All lots must be paid for on the day of sale or by the designated date in the Important Notes and must be removed no later than the time specified in the Important Notes.

3.                    In the event of any lots not being paid for or not being removed within the period allowed the Auctioneer shall immediately thereafter be at liberty to rescind the contract and without notice to the purchaser to resell such lot or lots by public or private sale.  In the event of any such resale, any loss or damage (including storage charges) suffered by the vendor shall be forthwith recoverable from the purchaser by the vendor.

4.                    The risk in each lot shall pass to the purchaser following notification of his successful bid but the ownership of each lot shall remain vested in the vendor and the purchaser shall not be entitled to remove any lot until payment in full has been made for each and every lot purchased by him at the sale.

5.                    The purchaser shall be responsible for any damage occasioned to any adjoining or other lots or to the premises by the removal of their lots and shall repair the same either before removal of the lots from the Tender site or after such removal as the vendor may desire or shall pay the estimated cost of doing so to be fixed by the vendor or the Auctioneer on his behalf, whose decision shall be binding on the purchaser.

6.                    The purchaser shall forthwith be responsible for any loss or damage to any person resulting from the removal of his lot or lots and shall indemnify the vendor and the Auctioneers against any liability therefore whether or not such damage was caused by the negligence of the purchaser, his employees or agents.

7.                    The vendor reserves the right to offer any lot for sale subject to a reserve price.  The vendor or Auctioneers on his behalf may without disclosing any reserve price withdraw from sale any lot before it has been sold.  Should the Auctioneers in any circumstances sell any lot under a reserve price they shall be at liberty to cancel the sale even if the lot has been paid for and release has been given and upon refund of the purchase price (if paid) neither the vendor not the Auctioneer shall be under any further liability whatsoever to the purchaser.

8.                    Neither the vendor not the Auctioneer shall be under any liability pursuant to section 6 of the Health and Safety Act 1974 and the purchasers attention is drawn to the undertaking given on each buyers slip at the sale by which the purchaser undertakes to take such reasonable and practical steps as are sufficient to ensure that his purchase will be safe and without risk to health and safety when properly used.

9.                    The lots are sold as they lie with all faults and errors or mis-statement of description, measurement, weight, quantity, quality, numbered or otherwise (whether of substantial nature or not).  The purchaser shall be deemed to have inspected the lot he buys and if he buys without previous inspection he shall do so at his own risk.  No oral or written representation made prior to or at the time of sale of any lot shall be deemed to be incorporated in such sale nor to have induced any purchaser to bid therefore the lots are not sold by sample but in any case if a sample shall be displayed it shall be on the understanding that the contract of sale shall contain no implied condition or warranty as to the quality it shall be on the understanding that the contract of sale shall contain no implied warranty as to the quality or fitness or otherwise or that the lots are free from any defects rendering them merchantable or are reasonably fit for the purpose for which they were purchased.

10.                 Where the Auctioneer conducts a sale on behalf of a vendor who is either a Receiver or Liquidator of a Limited Company or Trustee in Bankruptcy:-

a)        The vendor shall only act as agent on behalf of the Company or Bankrupt and shall be under no

        personal liability whatsoever in respect of the contract for the sale of any lot.

b)       The vendor and the Auctioneers on their behalf only sell whatsoever right, title or interest the Company or bankrupt may have in any lot.

c)        In the event of a third party proving to have a superior title or right to custody or possession of any lot the vendor may rescind the contract of sale and upon return of any deposit and/or purchase price to the purchasers neither the vendor not the Auctioneer shall be under any further liability to the purchaser.