Rules of Tender :
All Purchasers participating in this auction agree that they have been made aware and understand the Rules of Auction.
Inspection of vehicles:
All vehicles available for tender can be inspected on appointment with Lungile 0835338780 at 19 Fifth str. Golfview Walkerville 1876.
A pin location can be sent on WhatsApp.
Registration.
Bidders can only participate in the tender process unless they have completed the registration form supplied the necessary FICA documents and paid the deposit.
Deposit.
A refundable registration deposit of R5000-00 is required by all Bidders.
Should your bid be unsuccessful, you will receive a Proof of payment refund within 36 hours after the sale.
Should you win a bid and not be able to pay, you will lose your deposit to cover costs.
Bidding, Inspection, Condition of Goods and Warranties
The highest accepted bidder will be the buyer on every specific lot.
STC – Where lots that are sold Subject to Confirmation (STC), the highest bid will be subject to the acceptance by the Seller and the Purchaser will be notified of the success of his bid ASAP. Accepted highest bids are binding.
Bidders are prohibited from sharing logins or giving access to the platform to anyone other than who has been registered for the sale. ALL bids coming from a user account is binding.
Additional Terms / Suspensive Conditions
Condition of Goods
Unless otherwise stated, the vehicles are sold in the condition and state that they are in (as-is with NO DUTY TO REPAIR) and the Purchaser purchases the lots in accordance therewith. TENDER HOUSE will not be liable for condition or state of any of the lots of which it is unaware.
It is the responsibility of the Bidder to physically view / inspect all vehicles they intend to bid on themselves before participating. Neither the Seller of the lots, nor TENDER HOUSE, gives any warranties or guarantees or make any representations regarding the condition or state of any of the lots. The Bidder acknowledges that they have inspected the lots before bidding, noted the condition and state thereof, and is satisfied with the lots as well as the description thereof.
TENDER HOUSE Tenders make every effort to accurately catalogue items to the best of our knowledge.
Where branding and trackers appears on a Lot, the Seller reserves the right to remove such branding and trackers prior to collection.
Payment and Collection
Full payment must be made by at the latest 24 hours after auction. Payment is only accepted via an electronic funds transfer (EFT) or direct deposit into our nominated bank account(s). No cash is accepted on site. An administration fee of 2.5% will be levied on all cash deposits made into our account.
NO Finance is offered.
Additional Costs
The Bidder understands and accepts that his bid amount is exclusive of VAT and R1150 Processing of NATIS notification and other paperwork fees.
Delivery
Purchaser should arrange his/her own insurance once his bid on a lot is won. The Purchaser shall only be entitled to take delivery of the lots once payment of the full purchase price of all lots is reflecting in the TENDER HOUSE account and all relevant documents signed.
Collection and confirmation of inspection.
The Buyer/Bidder shall remove the lots from the auction site within 72 hours after the sale.
The Buyer shall be liable to pay daily storage fees if vehicle(s) not collected within 72hours @ R100 per lot per day.
The Buyer confirms that they viewed the motor vehicles concerned and has confirmed all the particulars of the motor vehicle. Odometer readings are not guaranteed and jacks, spare wheels, and service books are not included if not present. Vehicles can only be handed to the purchaser after the relevant change of ownership documentation has been completed and signed, at TENDER HOUSE office. The Purchaser agrees to comply with any requirements to register and roadworthy or dealer stock the vehicle within 21 days and to undertake any repairs necessary to affect such requirements.
Purchaser will be liable for any fine(s) or infringements from the day and hour of collection.
General
ON BEHALF OF THE BUYER WHO WARRANTS THEY ARE DULY AUTHORIZED
SAMPLE RULES OF AUCTION
ACCEPTANCE OF THESE RULES
- By registering to participate in the tender, the bidder is deemed to have accepted these rules as being binding on him in respect of the tender.
RESERVED PRICE / UPSET PRICE AND OWNER OR AGENT’S RIGHT TO BID
2. Notice is hereby given that this tender is subject to:
2.a. a Reserve price.
2.b. confirmation of the sale by the Seller (STC);
2.c. a right on behalf of the seller/owner/legal holder of the goods being offered (“Seller”) to bid at the auction (or any person on behalf of the Seller); and
2.d. Right of the owner to bid at the auction on behalf of as proxy for a registered bidder.
CONSUMER PROTECTION ACT, 68 OF 2008 (“CPA”)
3. The rules of this tender comply with section 45 of the CPA and the regulations promulgated thereunder.
BIDDING
4. The reason for the sale is voluntary disposal of goods by the Company involved/seller.
5. TENDER HOUSE may, without penalty or prior notice but only with the Seller’s express written permission, withdraw any item or lots from the sale.
6. All bids made are excluding VAT, the buyer’s premium and any other costs stipulated in these rules of auction.
7. A sale by tender is complete when the TENDER HOUSE announces its completion.
8. Subject to any reserved price, and acceptance of the highest bid by the Seller, the highest bidder (when TENDER HOUSE announces the completion of the sale will be the purchaser of the goods or lots on sale.
9. No bid may be withdrawn after being submitted.
10. The Purchasers offer shall remain open for acceptance by TENDER HOUSE Tenders on behalf of the Seller, until expiry of the confirmation period.
COMMENCEMENT
11. The SALE will commence at the published time (as indicated above) and it will not be delayed enabling any specific person or more persons in general to take part.
REGISTRATION
12. All persons intending to bid must register his or her identity in the bidder’s record prior to the commencement.
13. Such registration of each prospective bidder’s identity must, with the necessary changes, meet the requirements of chapter 1 of the regulations in terms of the Financial Intelligence Centre Act, 38 of 2001 in respect of the establishment and verification of identity. For these purposes, each bidder must provide TENDER HOUSE tenters with all relevant information required as well as the supporting documents listed hereto that are applicable to the bidder.
14. Where the Principal is a company, the person bidding on behalf of that company must produce a letter of authority on the letterhead of that company as well as a certified copy of a resolution authorising him or her to bid on the company’s behalf.
15. TENDER HOUSE may not accept a bid from a person unless he/she is registered in the bidder’s record. A bid taken from an unregistered person will be invalid.
RIGHT OF INSPECTION
– Potential bidders shall be afforded a reasonable period and opportunity to inspect the vehicles and or paperwork on offer prior to the commencement of the sale on the days specified.
TENDER HOUSE may:
– refuse or restrict access if a prospective bidder, in any way acts unlawfully or disturbing.
ATTENDANCE AT OWN RISK
16. Bidders are notified that he or his accomplices shall have any claim against TENDER HOUSE for any injury sustained, nor for damages or loss of property which may occur for any cause whatsoever, even as a result of gross negligence by any TENDER HOUSE, employee or customer.
BIDDER’S PAYMENT OBLIGATIONS
17. A refundable deposit equal to R5000 is required to be paid by each prospective bidder on registration. Without prejudice to any other rights that the Seller may have, the deposit shall be forfeited if the successful bidder fails to pay the bid price and/or the other costs listed below.
18. The Purchaser (being the highest bidder) shall be liable to pay the following amounts to
TENDER HOUSE:
18.1. the bid price + vat.
18.2. the buyer’s premium of 8.5% +vat.
18.3. Admin and processing fee of R1150 per vehicle.
CONDITIONS OF SALE
The Purchaser shall be bound by the following terms and conditions of sale:
19. Risk in and to the goods shall pass to the Purchaser once the bid is accepted.
20. The Purchaser agrees that the bid price and all fees, charges and the buyer’s premium shall be paid to TENDER HOUSE immediately after the bid has been accepted by TENDER HOUSE.
21. The Purchaser acknowledges that he has inspected the goods, noted the condition and state thereof, and is satisfied with the goods. Accordingly, the goods are sold in the condition and state that they are in and the Purchaser purchases the goods in accordance therewith (i.e. voetstoots with NO DUTY TO REPAIR). TENDER HOUSE shall not be liable for any defect in any of the goods of which it was unaware or could not reasonably have known about.
22. Not TENDER HOUSE or the seller does not give any warranties or guarantees or make any representations regarding the condition or state of any of the goods.
23. The Purchaser shall not be entitled to take delivery of the goods until payment of the full bid price plus the additional costs contemplated above has been made to TENDER HOUSE.
24. TENDER HOUSE shall not be obliged to deliver any vehicle to the Purchaser until the relevant documentation, duly completed and signed, has been delivered to TENDER HOUSE.
25. TENDER HOUSE Tendersr shall be entitled, without penalty, to cancel the sale should the required documents of or relating to the goods not be signed and delivered within 48 hours of the date of the sale.
26. In the event of the Purchaser failing to pay the full purchase price (plus applicable costs) of the goods immediately on the day of the auction or on or before the applicable time , failing to remove the goods and/or otherwise failing to comply with any of these terms and conditions, then any amounts paid to TENDER HOUSE by the Purchaser (whether as fees, costs and/or buyer’s premium) shall be irrevocably forfeited. TENDER HOUSE shall be entitled to re-sell or re-auction such goods without notice to the Purchaser.
27. Where the item purchased is a motor vehicle, the Purchaser confirms and acknowledges that when he viewed the motor vehicle concerned prior to the commencement of the auction, all of the particulars of and relating to the motor vehicle (including the name and business address, a notice that there is no liability or duty on the Auctioneer/auction house/bank/financial entity/Seller to repair, the motor vehicle’s year of manufacture, year of first registration, model designation, registration number, engine number, VIN number, odometer reading and that the odometer reading is not guaranteed) were affixed to the motor vehicle in document form or otherwise available in writing at or by the motor vehicle.
28. The Purchaser chooses as its domicilium citandi et executandi (the delivery address for all purposes arising from these terms and conditions), with the goods and/or the sale concerned.
29. The Purchaser consents to the jurisdiction of the Magistrate’s Court, but agrees that the Seller and/or the Auctioneer shall be entitled to institute proceedings in the High Court. In the event that any legal steps are taken against the Purchaser, the Purchaser agrees to pay all of the legal costs (on the attorney and own client scale) of the Auctioneer and/or the Seller and which is paid and/or may be payable to the Auctioneer /the Seller’s attorneys (by agreement or otherwise), alternatively, where there is no such agreement, on the attorney and own client scale as per the tariff of the relevant court involved.
30.
TENDER HOUSE HEREBY CERTIFIES, TO THE BEST OF HIS KNOWLEDGE THAT THESE RULES OF AUCTION MEET THE REQUIREMENTS OF REGULATION 21 OF THE REGULATIONS TO THE CONSUMER PROTECTION ACT, 68 OF 2008.