Privacy Centre - CDP Auctioneering Services
RULES OF AUCTION
1. INTRODUCTION
1.1 Landhouse (Proprietary) Limited (“Landhouse”) is a property auction house, which holds regular auctions at venues throughout the Republic of South Africa.
1.2 As Auctioneers, Landhouse will usually act as an agent on behalf of the Seller of a lot.
1.3 The contractual relationship of Landhouse with prospective Purchasers and Sellers is governed by:
1.3.1 The rules of auction set out below; 1.3.2 Any additional or special terms and conditions that Landhouse may impose (whether in the form of notices/displays at the premises where an auction is conducted or announced by the Auctioneer prior to or during any auction and whether in respect of any specific lot or in general); and 1.3.3 Such other terms and conditions as may be set out in any relevant mandate or agreement signed prior to or after an auction.
2. LEGISLATIVE FRAMEWORK
2.1 These rules of action comply with section 45 of the Consumer Protection Act, Act 68 of 2008 (“the Act”) and with the Consumer Protection Act Regulations (“the Regulations”) promulgated in terms of the Act
2.2 Section 45 (2) of the Act provides that: “When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.”
2.3 Section 45(3) of the Act provides that: “A sale by auction is complete when the Auctioneer announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement is made, a bid may be retracted.”
2.4 These rules are issued in terms of regulation 21 of the Act.
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3. AUCTION PROCEDURE
3.1 MANDATE:
3.1.1 The Sellers irrevocably instructs Landhouse to offer for sale at any auction property submitted for sale by the Seller and accepted by Landhouse to sell same to a Purchaser of a lot, provided that the bid or offer (whether at auction or by private treaty) accepted from the Purchaser is equal to or higher than the reserve (if any) on that lot.
3.1.2 The Seller acknowledges that Landhouse is entitled to rely on the accuracy of the description of the lot, as provided by or on behalf of the Seller.
3.2 PRE-AUCTION VIEWING
It remains the responsibility of all prospective Purchasers to examine and satisfy themselves as to the condition of each lot prior to the auction and that the lot matches any verbal or written description provided by the Seller or Landhouse. All maps, illustrations or descriptions of a lot are intended as guidance for Bidders. Landhouse will encourage pre-auction viewing by prospective Bidders and Purchasers to acquaint themselves as to the condition of each lot prior to the auction.
3.3 VENUES
Auctions will be held at different venues from time to time. All advertisements of auctions will state the date, venue and time of the auction and will state where the rules of auction can be obtained. Potential Bidders and Purchasers are encouraged to make telephone enquires if they are uncertain where to find the place where the auction is to be held.
3.4 REGISTRATION
3.4.1 Anyone that intends to bid at the auction must register his or her identity on the Bidder’s record prior to the commencement of the auction and such registration must meet the requirements of the Financial Intelligence Centre Act 38 of 2001 (“FICA”) in respect of the establishment and verification of identity of the person and the person must sign the registration entry.
3.4.2 A person who attends the auction to bid on behalf of another person, close corporation, company or association must produce a letter of authority that expressly authorises him or her to bid on behalf of that person. Where a person is bidding on behalf of a company, the letter of authority must appear on a letterhead of the Company accompanied by a certified copy of the resolution of the Company, authorising him or her to bid on behalf of a Company.
3.4.3 All Bidders wishing to make bids or offers and who have completed a registration form will also acknowledge that he or she is acquainted with and bound by the rules of auction on such registration form.
3.4.4 Bidders shall be personally liable for their bids and offers made during an auction and shall be jointly and severally liable with their principals, if they are acting as agents.
3.4.5 Potential Bidders and Purchasers may also complete an absentee or telephone Bidder’s form. These are written instructions from prospective Bidders and Purchasers instructing
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Landhouse to bid on their behalf up to a specific amount for a specific lot. Bidders are advised to record the maximum limit to which they will bid, but they may well be successful in securing a lot at a lower figure, depending on the interest in the lot. In the event of an identical bid, the earliest received bid will take precedence. 3.4.6 Telephone absentee bids must be confirmed before the sale in writing. Prospective Bidders and Purchasers are encouraged to ensure that absentee bids are submitted at least 24 (twenty four) hours before any auction.
3.5 ANNOUNCEMENTS
The Auctioneer will, during the auction announce the reason for the auction unless that reason is the normal and voluntary disposal of property by a Seller. Landhouse and the Auctioneer each has the right, at its or his absolute discretion, to offer the property referred to for sale under a lot, to refuse any bid or offer, to combine 2 (two) or more lots, to withdraw any lot from an auction and to determine the description of lots, as they may deem fit and whether or not to seek the opinion of professional advisors.
3.6 BIDDING 3.6.1 The auction will commence at the published time and will not be delayed to allow any specific person or more persons to take part in the auction.
3.6.2 The sale shall be by the rise of a registration number and the property shall be sold to the highest Bidder subject to this Rules of Auction.
3.6.3 Every prospective Bidder must read the Rules of Auction and must not bid unless he or she has done so.
3.6.4 Every bid shall constitute an offer to purchase the lot for the amount bid upon the terms and conditions contained herein and in any contract entered into between the Auctioneer, Seller and/or Purchaser or any other terms and conditions accepted by the Seller or the Auctioneer, which they may accept or reject in their absolute discretion. The Seller shall be entitled, in its absolute discretion, to withdraw the lot or property from sale prior to acceptance by the Purchaser.
3.6.5 If no bid equals or exceeds the reserve price, the lot or property may be withdrawn from the auction. The Seller shall, however, be entitled to instruct the Auctioneer to accept any lower bid.
3.6.6 The highest Bidder ("the Purchaser") shall sign the Deed of Sale immediately on the fall of the hammer.
3.6.7 The Auctioneer will accept bids from those present in the sale room, by absentee written bids left in advance or from telephone Bidders.
3.6.8 The Auctioneer may bid on behalf of the Seller up to the amount of the reserve, by placing consecutive or responsive bids for a lot.
3.6.9 Bidders who are unable to attend the auction may arrange to bid on the telephone. A telephone clerk will call such Bidder from the sale room and bid on his/her behalf. To register, the telephone Bidder must complete a telephone bidding form. Prospective
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Bidders are encouraged and advised to leave maximum bids as a safeguard in the event of a breakdown in telephone communication.
3.6.10 Landhouse will endeavour to execute absentee written bids and/or telephone bids, provided they are in Landhouse’s absolute discretion, received in sufficient time and in legible form.
3.6.11 Every Bidder shall be deemed to act as Principal, unless prior to the commencement of the auction, Landhouse provides a written acknowledgement that a particular Bidder is acting on behalf of a third party.
3.7 RECORDS
The Bidder’s record and the vendor roll will be made available for inspection at the offices of Landhouse during normal business hours without the charge of a fee. The Bidders’ record will also be available for inspection at the auction.
3.8 TRUST ACCOUNT
3.8.1 Landhouse has a trust account. All money due to the Seller in terms of the Rules of Auction or any agreement signed, will be paid into this trust account for the benefit of the Seller, minus any commission payable to Landhouse.
3.8.2 The total cost of advertising and conducting the auction of the lot or property will be made available on request. Such cost shall relate to a specific auction and a specific Seller. Such costs are broken down into the following categories:
a) Advertising costs; b) Brochure and marketing material; c) Auction venue costs; d) Photography; e) Costs of professional service providers; f) Refreshments; and g) Travelling costs.
3.9 CONDUCT OF THE AUCTION
3.9.1 The Auctioneer has the absolute discretion to withdraw or re-offer lots for sale, to accept and refuse bids and to re-open the bidding on any lot, should he believe there may be a dispute of any nature (including without limitation a dispute about the validity of any bid, or whether a bid has been made, or whether between two or more Bidders or between the Auctioneer and any one or more Bidder(s)) or error of whatever nature and may further take such other action as he in his absolute discretion deems necessary or appropriate. The Auctioneer shall commence and advance the bidding or offers for any lot in such increments as he considers appropriate.
3.9.2 The Auctioneer may be entitled to place bids on any lot on the Seller’s behalf up to the reserve, where applicable.
3.9.3 The contract between the Purchaser and the Seller of any lot shall be deemed to be concluded on the striking of the Auctioneer’s hammer at the purchase price finally accepted by the Auctioneer (after determination of any dispute that may exist). Landhouse shall not be liable for any breach of that contract by either the Seller or the Purchaser.
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4. RESERVED PRICE
4.1 If nothing is announced at the auction whether a lot is sold with or without reserve, such lot is sold with reserve.
4.2 In the event where a reserve or minimum price has been placed on a lot, such lot will be offered for sale, subject to that reserve. A reserve shall only be placed on a lot, if agreed in writing between the Seller and Landhouse prior to the auction. A reserve, once placed on a lot, may not be changed by the Seller without the prior written consent of Landhouse. Should Landhouse consent to an increase of the reserve on a lot, Landhouse reserves the right to charge the Seller an additional offer fee, since the lot may not be sold at auction as a result of the increased reserve.
4.3 Where a reserve has been placed on a lot, only the Auctioneer may bid on behalf of the Seller.
4.4 Where a reserve has been placed on a lot and, the Auctioneer is of the opinion that the Seller or any person acting as agent of the Seller, may have bid on the lot, the Auctioneer may knock down the lot to the Seller without observing the reserve and the Seller shall pay to Landhouse the commission and all expenses for which the Purchaser is liable and all expenses for which the Seller is liable, as well as all expenses for which the Purchaser is liable, in addition to the commission.
4.5 Should no reserve have been placed on the lot, Landhouse shall not be liable if the purchase price of the lot, is less than the estimated selling price.
5. ACCEPTANCE AND CONFIRMATION
5.1 By signing this Deed of Sale at the end thereof, the Purchaser offers to purchase the Property on the terms and conditions contained herein and the Purchaser’s offer shall remain open for acceptance by the Seller or by the Agent on behalf of the Seller, until 18H00 on the date specified as the confirmation period in the deed of sale. The Purchaser and the Agent acknowledge and agree that this provision are inserted and intended for the benefit of the Seller.
5.2 The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Agent, whichever may be applicable, has signed the Deed of Sale on behalf of the Seller in the space provided at the end thereof and the Seller shall not be required to notify the Purchaser of the acceptance of its offer prior to expiry of the confirmation period.
5.3 Should the Seller reject the Purchaser’s offer, the Agent will repay to the Purchaser any deposit and commission paid to it in terms of this agreement.
5.4 The Seller shall notify the Purchaser in writing of either its acceptance or its rejection of the Purchaser’s offer immediately upon receipt of a written request therefore from the Purchaser, which request shall not be made before the last day of the confirmation period.
5.5 In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale is subject to the granting of such consent.
5.6 Landhouse shall not be under any obligation to disclose the name of the Purchaser to the Seller.
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6. PURCHASE PRICE
6.1 The purchase price of the Property, plus Value-Added Tax ("VAT”) or transfer duties, whichever is applicable, be the amount payable, as stipulated in the schedule to the deed of sale.
The purchase price shall be paid as follows:
6.2 A deposit of 10% (ten percent) of the purchase price to the Auctioneer by the Purchaser immediately on the Seller’s signature of this agreement, which amount the Purchaser hereby authorises the Agent to pay over to the nominated attorneys against registration of transfer of the Property into the Purchaser’s name in terms hereof.
6.3 The Purchaser’s signature hereto shall constitute the Purchaser’s written consent to authorise the Auctioneer to invest all amounts paid on account of the Purchase Price in an interest bearing account with a bank of the Auctioneer’s choice. The interest shall accrue to the Estate Agency Affairs Fidelity Fund in terms of section 32 (2) (c) of the Estate Agency Affairs Act unless the parties agree otherwise in writing.
6.4 The balance of the Purchase Price shall be paid in cash and secured, to the satisfaction of the nominated attorneys, by a written guarantee from a registered financial institution, payable free of exchange, against registration of transfer of the Property into the Purchaser’s name. The Purchaser may elect to secure the balance of the Purchase Price by payment in cash to the nominated attorneys, who shall hold same in trust, pending registration of transfer into the name of the Purchaser. The aforesaid guarantee shall be presented and/or cash shall be payable by the Purchaser to the nominated attorneys within 30 (thirty) days from receipt of a written request to that effect from the nominated attorneys.
6.5 All monies due by the Purchaser in terms of this Agreement, and unpaid on due date, shall bear interest at the rate of 2% (two per centum) above the Prime Rate, per month, calculated from the due date of payment to the actual date of payment thereof, (both days inclusive).
6.6 Any payment made by the Purchaser in terms of this Agreement shall be allocated first to the payment of the commission when due, then interest, and thereafter to the payment of any other monies due in terms hereof.
7. VALUE ADDED TAX
7.1 The purchase price is exclusive of VAT or transfer duties.
7.2 In the event of VAT (or transfer duties ) being payable on the purchase price as a result of the sale, such VAT (or transfer duties) shall be paid by the Purchaser to the attorneys nominated in the sale agreement immediately on demand therefore.
7.3 In the event of the rate at which VAT (or transfer duties) is chargeable being amended after the date of signature hereof by the Purchaser and in circumstances in which the amended rate will apply to this transaction, then the amount due shall be adjusted accordingly, the intention being that the Seller shall receive and retain the same amount after payment regardless of the rate at which VAT (or transfer duties) is payable.
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8. AUCTIONEER’S COMMISSION
8.1 The Purchaser shall be liable for and pay, in addition to the amounts payable in terms of clauses 6 and 7, Auctioneer’s commission of 6% (six percent) of the purchase price, plus VAT thereon, which commission shall be deemed to have been earned and is payable immediately upon the signing of acceptance of the Purchaser’s offer in terms hereof by the Seller.
8.2 If commission is not paid by the Purchaser to the Agent in terms hereof for any reason whatsoever, the Seller hereby instructs the nominated attorneys to pay the commission or balance thereof, whichever may be applicable, to the Auctioneer as a first draw from the proceeds of this sale, against registration of transfer of the Property into the name of the Purchaser.
8.3 The Purchaser shall be liable to pay to the Auctioneer, upon demand, a fee equal to any bank charges that the Auctioneer may become liable for upon payment of the Auctioneer’s commission into the Auctioneer’s chosen bank account.
8.4 The provisions of this clause are inserted and intended for the benefit of the Auctioneer who by his signature hereto, accepts such benefit.
9. LIABILITY
Landhouse shall not be liable for any error, misstatement, omission or spelling error in the description of a lot (whether in any advertisement or otherwise), unless Landhouse, its employees or agents engage in intentional misleading or defective conduct.
10. WITHDRAWAL
10.1 A Seller may only withdraw a lot offered for sale, by written notification to Landhouse, which is received by Landhouse at least 24 (twenty four) hours prior to the commencement of the auction, at which the lot is to be offered for sale.
10.1 Upon receipt of proper notification of withdrawal as envisaged above, Landhouse reserves the right to charge the full Auctioneer’s commission to the Seller as a withdrawal fee, calculated on the latest middle estimate of the selling price of the lot or property withdrawn, together with all expenses incurred in relation to the lot or property.
11. PHOTOGRAPHY
Landhouse shall have the full and absolute right to illustrate, photograph or otherwise reproduce images of any lots submitted by the Seller for sale, whether or not in conjunction with the sale and to use such photography and illustrations at any time and in their sole and absolute discretion. The copyright of all photographs taken and illustrations made of any lot by Landhouse, shall be the sole and absolute property of Landhouse.
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12. AMENDMENT OF RULES
This Rules of Auction (version 2 April 2018) constitute the entire set of rules and shall supersede any previous rules in relation to matters referred to in these rules. In the event that the Rules of Auction are amended after its initial publication, but prior to the next auction, the Auctioneer will expressly indicate that the new version of the Rules of Auction is an amended version.
REGISTRATION FEE: R10 000 (REFUNDABLE) FIRST NATIONAL BANK Acc Name: Landhouse Properties Pty Ltd Trust Acc: 62281013301 Branch: 251445 Reference: Name & Surname Mail proof of payment to martin@landhouse.co.za or maike@landhouse.co.za
Buyers and Sellers agreement to the Terms and Conditions:
In respect of sales by CDP Auctioneers
- All goods (hereinafter referred to as the “assets”) are sold by CDP Auctioneers as agent on behalf of the seller, who hereby authorizes CDP Auctioneers to collect the purchase price from the buyer.
- These rules apply to bidders as well as sellers and the terms and conditions will be deemed to be accepted by them on completion of contracts and or with registration as a bidder.
- Special terms and conditions relating to each auction, and/or to any of the lots may be available and be announced prior to the commencement of the auction and/or during the auction itself. The purchaser and seller shall be bound by all the terms and conditions specified during the announcements irrespective of whether he/she/it is present at the time such announcements are made.
- CDP accepts no liability for any withdrawal of goods and animals from the sale, or for any express or implied statements or guarantees which may be contained in catalogues or advertisements be given verbally by its agents or employees, or by the seller.
- Buyers and Sellers must acquaint themselves with the Animals Disease Act, 1984 (Act 35 of 1984). The Auctioneer and his agents act as the go between. Sellers must ensure that their animals are disease free especially of FMD before transporting any animals and delivering animals at the auction premises. It is the responsibility of the buyer to ensure that he is happy with the animal’s purchase and that they are free of disease, especially of FMD before loading any animals.
- Seller must act according to the Law on the Identification of Animals (act 6 of 2002) as it is compulsory to mark animals by ways prescribed. On delivery sellers have to provide a copy of their Animal Identification mark, proof of address, the seller’s ID as well as the Art 6-8 certificate/form filled in. No animals will be allowed that are not tattooed or branded.
- All sales are “voetstoots”. Lots are sold without any warranty on an as is basis as the goods are to be purchased at a public auction ( that includes live, online and telephone bidding) as provided for under Section 55(1) of the Consumer Protection Act 168 of 2002.
- The obligation vest with the Purchaser to acquaint himself fully as to the suitability for which the goods to be purchased is intended; the quality of the goods and the durability thereof with the property and with all its defects, whether latent or patent, no guarantees are given in this regard.
- The seller does not provide any warranties whatsoever on the fit-for-purpose condition or mechanical ability of any lot. It is recorded that the bidder has had an opportunity to inspect the lot (and thereby accepted the condition and state thereof) and has decided, of his/her own free will, to bid on a lot.
- The auctioneer shall not be personally liable in consequence of any representation made by him at or before the sale nor shall he be personally liable for breach of any warranty given by him, whether in regard to his authority to sell the property/assets in question or in regard to the quantity, quality or condition of the property in question.
- There is no duty on CDP to affect any latent or patent repairs on any lot.
- The Rules of Auction comply with Section 45 of the Consumer Protection Act, Act 68 of 2008 (The Act hereafter) which Section stipulates:
- In this section, ‘‘auction’’ includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction.
- When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.
- A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement is made, a bid may be retracted.
Notice must be given in advance that a sale by auction is subject to:
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- A reserved or upset price; or
- A right to bid by or on behalf of the owner or auctioneer, in which case the owner or auctioneer, or anyone person on behalf of the owner or auctioneer, as the case may be, may bid at the auction.
- Unless notice is given in advance that a sale by auction is subject to a right to bid by or on behalf of the owner or auctioneer –
- The owner or auctioneer must not bid or employ any person to bid at the sale.
- The auctioneer must not knowingly accept any bid from a person contemplated in paragraph (a); and c) the consumer may approach a court to declare the transaction fraudulent, if this subsection has been violated.
- The Minister may prescribe requirements to be complied with by an auctioneer, or different categories of auctioneer, in respect of—the conduct of an auction; the records to be maintained with respect to property placed for auction; and the sale of any such property by auction. More info available of the Consumer Protection Act 68 of 2008 available at: www.info.gov.za.
- Vehicles, machinery etc:
Where a motor vehicle is auctioned, the auctioneer will inform or attach a notice to the lot with information if available:
- the vehicle's year of manufacture, if known.
- the vehicle's year of first registration.
- the vehicle's manufacturer and model designation.
- the vehicle's registration number.
- the vehicle's engine number.
- the vehicle's identification number (VIN); and
- There is no duty on CDP to affect any latent or patent repairs on any lot. Any lot sold at this auction is sold 'voetstoots' or 'as is'.
- The odometer reading, if available, stated on the notice is as read by CDP and is not guaranteed. No obligations will be implied unless displayed in the notice.
- The seller does not provide any warranties whatsoever on the fit-for-purpose condition or mechanical ability of any lot. It is recorded that the bidder has had an opportunity to inspect the lot (and thereby accepted the condition and state thereof) and has decided, of his/her own free will, to bid on a lot.
- The seller will advise the local vehicle licensing authorities of the change of ownership details and the onus is on the purchaser to register the vehicle within 21 (twenty-one) days (from the date of receipt of the delivery note from the seller) in the purchaser's name.
- The sale by auction is subject to a reserve price, unless specifically stated to the contrary by the Auctioneer.
- The Auctioneer shall at his own discretion be entitled to re-auction any lot should a dispute arise between the Auctioneer and the bidders over such a lot.
- The purchase price excludes VAT and VAT must be added to the purchase price and paid by the purchaser, unless specifically stipulated otherwise by the auctioneer.
- The Seller/s warrant that 1) it is the owner of the movable properties and 2) that the movable properties are unencumbered in any way whatsoever, either in part or a whole, and 3) that the movable properties are not subject to any lease, hire purchase or credit instalment sale agreement or any other agreement with a 3rd party or entity including but not limited to an agreement falling under the National; Credit Act 34 of 2005 and may lawfully be auctioned by CDP Auctioneer.
- The Seller/s accepts and acknowledges that CDP advertise the sale of listed assets, movable and/or immovable properties prior to the auction. Advertising budget is spent to attract a wide spectrum of buyers. Should items be withdrawn from the auction by the Seller/s, the Seller/s will be liable to pay to CDP a 10% commission (excluding VAT) of the reserve price of the movable properties. The Seller/s shall in addition to this commission, be liable to pay to CDP the pro rate advertising costs of any advertising done and/or placed by CDP or charged to CDP.
- The Seller/s chooses as his/her/its chosen domicilium citandi et executandi for all matters arising here from, the physical address reflected above.
- The Seller/s shall not have any right, remedy or claim of any nature whatsoever against CDP for any loss, damage (whether general, special or consequential), expense or injury which may be suffered by the Seller/s, directly or indirectly, arising out of or relating to this pre-auction contract, irrespective of whether or not such loss, damage, expense or injury shall have been caused by CDP or any person for whose acts or omissions CDP is vicariously liable. Without derogating from the generality of the a foregoing, CDP shall have no liability to the Seller/s in respect of any such loss, damage, expense or injury which may be suffered by the Seller/s from any fire in or on CDP Premises, or any theft from CDP Premises, or arising out of vis major or casus fortuitous, or arising out of any act of omission of any employee, representatives and/or agents of CDP which, or arising, in any manner whatsoever, out of the pre-auction contract.
- The Seller/s hereby indemnifies the CDP and each of CDP’s employees, representatives and/or agent against any claim of any nature whatsoever which may be made against CDP or any such employee, representatives and/or agent by any of the Seller/s servants, employees, agents, invitees, customers, dependants and/or contractors arising out of any event or cause of any action referred to in herein.
- Should any provision of this pre-auction contract [including any schedules and/or annexures (if any)] become unenforceable, such provision shall be severed from this pre-auction contract and the remaining provisions shall be of full force and effect.
- Words signifying the singular shall include the plural and vice versa.
- Any assets entered or offered for sale are subject to payment by the seller of the agreed commission, or in absence of agreement, the usual commission by the seller to CDP auctioneers at the rate customarily charged by CDP Auctioneers from time to time, whether it was sold by auction or thereafter by the private treaty. Unless otherwise agreed in writing, commission shall become due and payable by the seller upon the fall of the hammer or upon the entering into of any private treaty involving the seller’s said assets, which ever date is the earlier and not withstanding any breach on the part of the seller. The seller authorizes CDP Auctioneers to deduct commission before payment of any moneys to the seller.
- If it happens that the buyer does not pay and whether the transaction is canceled for any reason, CDP Auctioneers cannot pay a seller and will attempt to resell item.
- Payments to sellers will take place 7 working days after the auction date, after the invoice is signed by seller.
- The purchase price is payable by the buyer to CDP Auctioneers by electronic transfer (EFT) on the date of sale (the payment date), unless other payment terms are agreed in writing between CDP Auctioneers and the buyer.
- In the event of any conflict between the contents of this document and the payment terms agreement, the provisions of the payment terms agreement shall prevail; no application for credit as defined in section 8 of the National Credit Act, Act 34 of 2005, will be received or considered by the CDP Auctioneers.
- The buyer shall not be entitled to withhold payment of the purchase price to CDP Auctioneers as a result of any possible or pending claim that he may have against the seller on the grounds of misrepresentation or for any other reason whatsoever.
- Any potential buyer must register and must be in possession of a buyer’s card.
- In the event where buyers must register at an auction, and such registered buyer allows another person to purchase on his buyer’s card, the registered buyer shall be liable for payment of such purchases. No bid by an unregistered buyer will be accepted by CDP Auctioneers and the buyer will have no claim to any of the assets allegedly purchased by him.
- Any person who purchases on behalf of a principal, must furnish CDP Auctioneers with a “power of attorney” prior to the commencement of the sale. By failing doing that he will be personally liable for payment of any purchases made by him. The person bidding or signing on behalf of the buyer, pursuant to a successful bid, thereby binds himself personally as co-principal debtor with the buyer for payment of the purchase price and personally guarantees all the obligations of the buyer under these terms and conditions.
- Subject to any reserve placed on any of the assets by the seller and the provisions, the buyer at any sale shall be the highest bidder indicated by CDP Auctioneers auctioneer by the fall of the hammer or by such other means as he may select.
- Telephone bidding:
29.1 Subject to a Buyer arranging with the Auctioneer before the auction and after completing the required documentation and paying the applicable registration fee, a Buyer bidding by phone deemed to accept these terms and conditions and to be bound and be bound thereby, shall then be permitted to bid by phone.
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- The person who makes the bid by phone shall be deemed to be the buyer and shall be deemed to be personally
liable for the payment of the purchase price.
- All assets shall, immediately after the bid is being knocked down, be deemed to have been delivered to the buyer. The sale shall be final and irrevocably concluded, subject only to any suspensive terms and conditions as may be applicable to the lot. Notwithstanding delivery, the buyer shall not be entitled to remove any purchased assets unless:
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- The Auctioneers invoice in respect of such assets, has been paid in full via Paypal and
has cleared in VHS bank account.
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- The Purchaser is in possession of a paid invoice and loading document.
- Provided that in the case all other items, including motor vehicle sales, requiring the completion and delivery of documents by the Seller or any third party, CDP shall only be obliged to deliver such lots to the Purchaser after the relevant original documentation has been duly completed and signed by the Seller or any third party, is in the possession of CDP to hand over to the Purchaser.
- The risk of profit and loss and the obligation of care devolve onto the buyer when the bid is knocked down.
- The buyer who shall at his own risk and expense, remove it from the sale venue.
- If the buyer doesn’t collect items within the agreed time, storage costs will be applicable.
- The bidder is buying by piece to take the lot unless otherwise announced by the auctioneer.
- Once a bid has been made, it may not be withdrawn, unless it has been made and accepted in error by the auctioneer.
- It is the responsibility of the bidder to ensure that he is fully aware of the lot and the specific goods or animals or items he is bidding on.
- Should a cartage contractor remove any assets from the sale venue on instruction of CDP Auctioneers, the contractor will be deemed an agent of the buyer who accepts all costs and risks connected with such removal.
- The Purchaser shall not be entitled to cancel the sale as a result of there not being timeous delivery or signature of the required documents. The Purchaser irrevocably waives his/her/its rights in this regard.
- CDP shall be entitled, without penalty, to cancel the sale should the required documents not be signed and delivered to CDP within 21 (twenty-one) days of the date on which the sale becomes unconditional the said 21-day period may be extended by CDP for a further 14 (fourteen) days in CDP’s sole and absolute discretion.
- In the event of any Purchaser failing to pay the full purchase price of any lots (“the sale price”) within the applicable time (as per the relevant announcement), and/or failing to remove the lots as aforesaid, and/or otherwise failing to comply with any of these terms and conditions, then, without prejudice to any other rights which CDP enjoys, the
Purchaser shall be irrevocably forfeited to CDP any deposit paid by the Purchaser, for and on the Purchaser’s behalf. CDP shall in addition, have a lien over the lots and shall have the right to re-sell such lots without notice to the Purchaser. Should CDP re-sell such lots and should the net proceeds thereof (after deducting commission and all costs incurred or to be incurred by having to re-sell the lot(s)), be less than the sale price, the Purchaser shall forthwith upon demand pay CDP, as pre-estimated, liquidated damages, such difference, less any deposited forfeited. This shall be without prejudice to the Seller and/or CDP’s rights to claim all amounts/damages which it/they may claim in law.
- CDP shall, under no circumstances, be liable to the Purchaser for any losses or damages suffered by the Purchaser as a result of the auction or termination of any sale concluded in respect of any lots in question, and/or the failure or inability of CDP to deliver any of the lots.
- The Purchaser chooses as his/her/its chosen domicilium citandi et executandi for all purposes arising here from, the physical address reflected above.
- The Purchaser consents to the jurisdiction of the Magistrates Court. CDP shall be entitled to institute an action in any competent division of the High Court of South Africa if it elects to do so.
- In the event of it becoming necessary for CDP to take any action against the Purchaser, the Purchaser agrees to pay all the attendant costs and expenses incurred, including all legal costs incurred as between attorney and own client, should CDP institute legal proceedings against the Purchaser.
- The auction shall take place under the exclusive control of CDP Auctioneers. CDP Auctioneers reserves the right, in its sole discretion, to refuse the bid of any person, to regulate the bidding, to indicate the highest bidder and to vary the order of the sale at any time without giving reasons, therefore. If the auctioneer suspects that a bidder has not made a bona fide bid, or is unable to pay the purchase price or has not made satisfactory arrangements for payment of the purchase price, he may refuse to accepts the bid of such bidder or accept it provisionally until the bidder has satisfied him that he is in position to pay the purchase price or that he has made satisfactory arrangements for payment thereof. On refusal of a bid under such circumstances the assets may immediately be re-auctioned.
- CDP Auctioneers shall not be liable for loss or damages caused to, or sustained in respect of any action by CDP Auctioneers or its helpers, employees or agents, notwithstanding an undertaking to care for attempt to, to dispatched or deliver the assets
- The Purchaser indemnifies CDP against any claims or damages the Purchaser may sufferer relating to the lots, including but not limited to any errors of description of any of the lots.
- The buyer shall, prior to the sale, ascertain whether there are any defects in the assets and any bid by a buyer shall be considered as acceptable of the assets with any patent or latent defects in their condition at the time of sale.
- CDP Auctioneers reserves the right to refuse any cheque as payment.
- Notwithstanding delivery, ownership of the purchased assets will not pass to the buyer until the full purchase price plus interest, if payable, is paid.
- Until all amounts owing by the buyer had been paid in full, the buyer hereby:
- Irrevocably undertake to identify the purchased animals in such a manner that he can at any time identify and indicate the assets deemed to be the property of and pledged to, CDP Auctioneers.
- Grants CDP Auctioneers access at all reasonable times to the premises where the assets are stored for the purposes of perfecting its pledge and exercising any other rights in terms of these terms and conditions.
- The entries made in the CDP Auctioneers auction roll shall be prima facie evidence of the transaction and shall be binding on the seller and buyer.
- Only representatives of CDP Auctioneers are entitled to control and load items or animals out. Sellers and buyers are not allowed to do it themselves. No items or animals will be loaded during the auction.
- Any agreement contrary to these conditions of sale shall not be binding unless it is confirmed in writing and signed by management of CDP Auctioneers.
- The Purchaser and Seller hereby acknowledges and confirms that he has read and understands all the foregoing conditions and in particular that he/she binds himself as surety for any principal for and on whose behalf, he may be purchasing goods at the auction.
Online Sale Specific Terms and Conditions
- There is a 1.15% (VAT inclusive) internet surcharge payable by the buyer on the hammer price.
- CDP Auctioneering Services’ Standard Terms and Conditions will apply to all lots, unless in contradiction with any terms set out in the Special Rules of Auction in which case the provisions of the Special Rules of Auction will apply.
Posted on: www.cdpauctioneers.co.za
- Goods sold by auction will be subject to a reserve price; however, goods presented for auction on the “Timed Auction” will have a minimum starting bid price which will be indicated on the online bidding platform. Any bid at or above the minimum starting bid price will be subject to confirmation.
- The minimum bidding increment may vary per lot but is specified on the online bidding platform.
- In respect of lots on the TIMED ONLINE AUCTION, the following additional terms and conditions will apply:
- Subject to the paragraph below, lots on the timed auction will close as per the specified date and time per lot as advertised on the online bidding platform.
- A lot will not close if a bid is received on the lot within a period of 2 minutes before the closing time as published. In this event, the closing time on the lot will automatically be extended for a further period of 2 minutes. The lot will only close if a final bid on the lot stands alone for a period of 2 minutes.
- The “fall of the hammer” on a lot for the purposes of the timed auction is defined as the date and closing time published on the online bidding and/or the Sellers’/ Auctioneer public website, alternatively at the date and time a final bid on a lot stands alone for a period of 2 minutes, whichever occurs last.
- In respect of lots on the LIVE ONLINE AUCTION, the following additional terms and conditions will apply:
- This auction is live online with an auctioneer who will auction each lot.
- Buyers follow online by listening to the auctioneer and will also see the bidding on their screen.
- Buyers must register to take part in the auction, and they bid online.
- The auctioneer will close the bids and his decision is final.
- Once a bid is made it cannot be withdrawn.
- Neither the Auctioneer, the Sellers’ or the Auctioneer’s representatives will be liable for any failure in connectivity or software while using the online bidding platform.
- Neither the Auctioneer, the Seller nor the Auctioneer of Sellers’s representatives will be liable for software failure of any nature.
- Availability of goods and loading period will be indicated on each lot.
- Buyers will receive invoices by mail and goods must be paid within 24 hours after closing of the timed auction.
- Cost for transport and insurance of the goods will be for the Buyer’s own account, unless otherwise stated on each lot.
Online Sales-Auctions: Terms and Conditions
- This electronic trading platform will be conducted within the framework of the rules listed below and other provision that may be added by the administrator via e‐mail or as posted www.cdpauctioneers.co.za
- This website and the materials provided to you through it are protected by copyright, trademark and other intellectual property rights and laws throughout the world.
- You may access and use this Website solely for the purposes of use connected with the Services.
- All contents of this Website including, but not limited to, the text, graphics, links and sounds are owned by CDP Auctioneers (Pty) Ltd and may not be copied, downloaded, distributed or published in any way without their prior written consent, except that You may print, copy, download or temporarily store extracts for your personal information or when You use the Services.
- The Buyer(s), The Sellers and CDP Auctioneers agree that the terms listed below shall govern each and every online sale
- You are required to register as a user by completing the online "User Registration Page" on the Website and submitting it to CDP Auctioneers.
- You agree to ensure that your registration details are true and accurate and to update any details when necessary via the Website.
- You may not use fake or fraudulent details to create an account to gain access to any function that CDP Auctioneers offers on this site.
- All registration information the Buyer and Sellers provided to CDP Auctioneers shall be current, complete and accurate.
- All Buyers must be 18 years of age or older. The Buyer agrees to not use any device, software or routine to interfere or attempt to interfere with the proper working of any transaction being conducted on and during any sale
- Passwords. You (the registered user) are solely responsible for keeping your personal username and password secure and confidential. You should not disclose your username or password to any other party. Once logged on using your username and password whether authorised or unauthorised, you take full responsibility for the ensuing transactions once access to the site is obtained. If you believe that your username and/or password have been compromised or you are aware of any other breach of security regarding the Site, then you must notify us (CDP Auctioneers) immediately.
- For all sales, settlement for payment for purchases must be made by electronic transfer of funds and made payable to CDP Auctioneers. Account details will appear on all invoices and statements. All sales are subject to appropriate Sales Tax laws
- Buyers from neighbouring countries acknowledge and agree that they may participate with written permission in advance. CDP Auctioneers retain the right to demand a deposit on the intended purchase price. Buyers from neighbouring countries acknowledge and agree to submit in writing proof of an agreement with a quarantine station that will collect and keep such animals until time of export thereof.
- Buyers must acknowledge and agree that they will not and cannot retract their purchase offer. Buyer shall be responsible for making all arrangements for merchandise pick‐up and/or removal per specific terms or conditions listed for sale. Please note that some removal times are short, be aware of removal times when you buy.
- The descriptions of item/lots appearing on the platform and in advertising prior to the trading takes place are believed to be correct. Nevertheless, neither those descriptions nor any oral statements made by Owner/Seller or CDP Auctioneers and employees concerning any item/lot shall be construed as a warranty, either expressed or implied.
- ITEM/LOTS ARE ALL SOLD AS IS ‐ ‐ WHERE IS – HOW IS and WITH ALL FAULTS, known, apparent or otherwise.
- Buyer acknowledges that all items/lots were available for video inspection prior to the sale and were satisfied. By these terms, Administrator and Owner/Seller strongly encouraged Buyer to carefully inspect each item/lot in which Buyer had any interest to determine the item/lot’s nature, quality, condition, sex percentages, quantity, size and grade.
- All Buyers rely solely on their personal inspection and not on information listed on the Site or otherwise provided by CDP Auctioneers and employees or Owner/Seller. Buyer’s failure to inspect, or otherwise to be fully informed as to the nature, quality, condition, quantity and size of any item/lot will not constitute grounds for any claim, adjustment, refund, termination of the contract for sale, or refusal to close the sale, against CDP Auctioneers or Owner/Seller.
- Therefore, if the Buyer is unsure – Do not Buy. The Site User Agreement constitutes the final expression of the parties’ agreement and a complete and exclusive statement of the terms of the sale. The IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ALL OTHER WARRANTIES, EITHER EXPRESSED OR IMPLIED, ARE SPECIFICALLY EXCLUDED from this sale and transaction and shall NOT apply to the merchandise that is the subject of these sales.
- CDP Auctioneers does not have 100% control over the item/lots that are posted in the Site and cannot guarantee the authenticity and quality of all said products / lots on offer. If there is any clear misrepresentation from the Seller in terms of, but not limited to, health, quality, quantities, sex percentages or weight the Buyer needs to inform CDP Auctioneers immediately.
- CDP Auctioneers will then either.
- Negotiate with the seller for a different price or.
- Cancel the sale agreement in total
- If CDP Auctioneers in its sole discretion decides to cancel the sale, CDP Auctioneers will/can
- Put the lot up for sale again
- Retain first right of refusal on any / all Lots presented on its sale
- CDP Auctioneers is not responsible for the actions the Owner/Sellers and Buyers take before, during, and after the sale, typographical errors, misprints, loss of merchandise/money, damage or failure of equipment, due to your visit to this sale site. Use of this site is at your own risk.
- Despite efforts to avoid the withdrawal of items/lots from the sale after they are listed it may sometimes be necessary. No adjustment will be made regarding merchandise/inventory after the item/lot has been removed from the premises or after the removal date posted by CDP Auctioneers, whether the property has been removed.
- CDP Auctioneers reserves the right, for any reason, in their sole discretion, to terminate, change or suspend any aspect of any sale.
- CDP Auctioneers reserves the right to hold and resell any asset or lot not paid for in full by the Buyer within 24 hours
- Failure to pay for item/lots bought on this online sale will result in legal action against Buyer by either the Owner/Seller and/or CDP Auctioneers. Further, the Buyer may be banned from any future sales, which is solely in CDP Auctioneers’ discretion.
- CDP Auctioneers reserve the right to reject any and all transactions, if they so choose.
- The final buyer shall be designated at the end of each sale. CDP Auctioneers’ designation of the Buyer shall be final.
- As a Buyer, placing a bid/ buy / purchase is a binding contract between you and the Owner/Seller/CDP Auctioneers and the buy/purchase cannot be retracted unless a director of CDP Auctioneers cancels the transaction by informing the Buyer and Seller thereof.
- Once you place a buy/purchase and are shown/indicated that you are the successful buyer, you will be obligated to buy the product at the said price you indicated as your bid/buy.
- Placing a bid/buy on this Site and being indicated/shown as the Buyer and then not paying for the product could be illegal, and prosecution can result. CDP Auctioneers reserves the right to judge each case on its own merit and reserves the right to cancel any sale transaction at its discretion.
- CDP Auctioneers reserve the right to cancel or withdraw any lot / offer at any time before, during or after the sale. CDP Auctioneers reserve the right to reject any and all buys / offers to buy in their sole discretion without giving any explanation.
- Buyer will be furnished with an electronic receipt at the conclusion of every sale. Buyer must therefore provide CDP Auctioneers with Buyer’s current, correct e‐mail address, phone number, and physical address.
- SILENT- and LIVE WEBCAST AUCTIONS when items or animals or items are not physically at the auction:
- Livestock and or any other animal or item bought through Silent Auctions, becomes the full responsibility of Buyer as well as the risk goes over to the Buyer at the time of removal from:
- Sellers physical address given for the specific auction, or
- on delivery at the agreed designated delivery point or
- When loaded on the agreed transport between seller and buyer.
- Removal is at the expense, risk, and liability of the Buyer. Any buyer having someone, other than himself, pick‐up his purchases must notify CDP Auctioneers in writing.
- If animals or items are not loaded within 7 days after the starting date and time of the auction, the risk will be transferred to the buyer.
- Animals or items must be loaded within 7 days after the auction. Before loading, all sellers must be in possession of a written authorisation from CDP Auctioneers that lots have been sold and payment was made. After payment, the buyers will receive a removal document from CDP confirming that payments were made on lots bought.
- Buyers must make sure about delivery and pick up points of lots bought, as well as date and time when sellers might transport animals or items to designated locations. This will vary for each auction and each seller or lot. Make sure you are fully aware of this.
- Any items that are not available from CDP Auctioneers for any reason will be refunded at the rate of purchase if payment has been made.
- Owner/Seller and CDP Auctioneers agree that merchandise may remain on the sale premises for a period following the sale. The date by which all animals that were bought must be removed from the premises is posted on a sale‐by‐sale basis, on the specific sale page.
- The Seller agrees that he will do everything possible and grant access for the Buyer to collect animals bought on this site.
- Failure by the seller to allow the Buyer to collect items sold through CDP Auctioneers can result in legal action against the seller.
- With Live webcast auctions when animals or items are at the auction physically: The risk goes over to the buyer on the fall of the hammer.
- It is the buyer’s responsibility to make the necessary arrangements of taking care of the animals and the removal of them after the auction.
- It is the responsibility of the seller and buyer to make sure they have the necessary permits and documents to transport animals or items.
- Transport arrangements are between seller and buyers and it is their responsibility to insure the items or lots in transit. CDP TAKES NO RESPONSIBILITY or risks for any transport arrangements.
- Sellers and buyers can take out insurance on animals or items.
- After the final removal date, unless previous arrangements have been made, there will be a storage fee charged, per day, per item/lot to the Buyer on any lots not fully removed.
- It is the responsibility of the buyer to completely remove any animals or items purchased by him and should any part of any such lot of animals be abandoned, the buyer will be liable for any expense involved in its removal.
- CDP Auctioneers can / will at its own discretion request a deposit from Buyers before they can make a bid in order to buy / Purchase
- CDP Auctioneers gathers information about Buyers and Owner/Sellers for the purposes of conducting online sales only.
- CDP Auctioneers does not, and will not, sell or rent this information. CDP Auctioneers uses email mailing lists to notify its customers about online and live sales. If you are receiving a mailing and wish to discontinue receiving future mailings, simply forward the received email to CDP Auctioneers to have your name promptly removed from our list.
FICA requirements:
DEALERS/COMPANIES (Close corporation / (Pty) Ltd)
- Utility Bill with current business address (not older than 3 months)
- Resolution letter confirming the registered representative/s can buy on behalf of the company
- SARS letter with VAT Number (Notice of registration)
- Owner’s ID Copy (all partners and members) as well as proof of private residential address (e.g. utility bill not older than 3 months)
- Proxy details/BRN certificate/Dealer stocking certificate/Traffic Register certificate (from the License Department)
- Proxy and representative’s ID copies
- Copy of Original CK/CM documents (to confirm the identity of all members or directors)
PLEASE NOTE THAT PRINTOUTS SUCH AS WINDEED, DEED SEARCH etc WILL NOT BE ACCEPTABLE.
SOLE PROPRIETORS
- Utility Bill with current residential address (not older than 3 months)
- Owner’s ID copy
- Letter on a company letterhead confirming the existence of the business as a sole proprietorship
- If registered for VAT, SARS letter with VAT Number (Notice of registration)
PARTNERSHIPS
- Partnership agreement
- Partners’ ID copies and Proof of residential address (not older than 3 months)
- SARS letter with VAT Number (Notice of registration)
- Proof of business address (not older than 3 months)
- Resolution letter (authorizing representative to buy on behalf of company)
- Proxy details/BRN certificate/Dealer stocking certificate/Traffic Register certificate (from the License Department)
PRIVATE BUYERS
- Utility Bill with current residential address (not older than 3 months)
- Registered buyer’s ID copy
TRUSTS
- Trust Deed.
- Letter of authority issued by the master of the high court.
- Authorization letter to buy on behalf of trust.
- Tax clearance certificate (if vat registered).
- ID’s of all trustees.
- Proof of address of all trustees (not older than 3 months).
- Proof of address of the trust (not older than three months).
NOTES:
- An affidavit may be submitted to confirm residence for those buyers that are residing or operating at someone else’s premises together with the premise owners ID copy.
- A marriage certificate for spousal address confirmation.
- Lease agreement for those renting from agencies.
- Passport copy, valid visa copy, traffic register certificates for foreign buyers.
- Driver’s licenses are not accepted as a form of identification (Bar coded ID Document)
