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
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:
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.
Sale and Payment
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.
In every case time for payment shall be of the essence.
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.
Company interest (both before and after any judgment) on the amount unpaid at the rate of 4% above the bank base rate of Barclays Bank Plc per month or any part
thereof until payment in full is made.
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 effect 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.
the Company. On written request by the Buyer the Company will provide a VAT invoice.
The Company will only accept payment under this General Condition 5 from the Buyer or its authorised agents.
Removal of Lots
Risk of damage to or loss of the Lot shall pass to the Buyer immediately upon the conclusion of the Sale.
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.
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.
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.
The Company will only permit the removal of Lots purchased by the Buyer or its authorised agents.
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. In the absence of co-operation the Company and/or the
Auctioneer reserves the right to insist on the order of the removal of Lots or parts thereof.
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
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.
the relevant Lot(s).
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
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