Dear Participant,

Thank you for your interest in this event.

Please note that by taking part in the auction you give consent and agree to the following:

1.        Conditions of Sale and Participation Acknowledgement Form

1.1   By participating in this event, you the buyer agree and consent to be bound by the Conditions of Sale and sale-related conditions on the event and lots. You furthermore agree and consent to the terms and conditions applicable to the use of our website.                                                                                              

1.2   Liquidity Services furthermore reserves the right to request a 25% upfront payment on the invoice amount directly following the acceptance of the offers. Balance of invoice to be paid before collection of purchased lot(s)

2.    Sale specific Terms and Conditions

The following sale specific terms and conditions apply to this transaction:

2.1   All assets are sold “”as is, where is” on a “voetstoots” basis.  It is the responsibility of the buyer to acquaint themselves with the assets as well as the condition thereof prior to bidding. Upon removal of the item, the sale is final.

2.2   All lot catalogues are subject to change prior to the closing of the sale and it is the responsibility of the buyer to ensure they acquaint themselves with the lot description during the sale.  All bidders will be informed if any amendments are made on a lot, after the bidder has placed a bid.

2.3   It is the responsibility of the buyer to arrange removal, dismantling as well as insurance on the assets and the buyer will be responsible for all associated costs in this regard.

2.4   No assets may be removed from the site prior to the buyer receiving a valid release note.  Neither Liquidity Services nor the Seller will be liable for any costs in the event where a buyer arranged for removal prior to a valid release note being issued.

2.5   Buyers are required to remove all waste plastic, wood, and hazardous materials that form part of the lots that they purchased.

2.6   The buyer needs to ensure that they have the correct permits and/or SHEQ files required by law prior to dismantling and removal of the assets.

2.7   Although the information has been obtained from sources deemed to be reliable, Liquidity Services makes no warranty and/or guarantee expressed or implied, as to the accuracy of the information.

2.8   Photographs shown on the website might be of similar lots.  It is the buyer’s responsibility to satisfy themselves by inspecting the assets of the appearance and condition of the specific lot that they are bidding on.

2.9   Liquidity Services reserves the right to resell any asset/lot in dispute by putting it up for auction again.

2.10 Withdrawal of lots and/or cancellation of a sale:

2.10.1  Liquidity Services reserves the right to withdraw assets from the sale at any time prior to the closure of the auction.

2.10.2  Liquidity Services furthermore reserves the right to cancel a sale (after the closure of the auction) for any reason within a period of 4 months after the sale.  In which case the sole remedy to the buyer will be a refund of the total purchase price and commission actually paid.

2.10.3  Clause 2.10.2 will be specifically taken into consideration in instances where human errors occurred during the upload of the auction.

3.    Registration fee

3.1   In order to participate in this auction a refundable registration fee of R10,000.00 is payable.

3.2  All cash deposits into our bank account will incur banking fees of R80.00 per payment received. This amount will be deducted from the registration fee prior to the refund thereof.

3.3  Liquidity Services reserves the right to request a further registration fee up to 20% of your intended budget, should this be deemed necessary.

This clause may also be applied in instances where you the buyer have received a Letter of Demand during the past 6 (six) months leading up to this auction.

3.4  Liquidity Services furthermore reserves the right to request a 25% upfront payment on the invoice amount directly following the

close of the auction.

3.5  A copy of the proof of payment must be emailed to Africa.buy@allsurplus.com

Payment of the registration fee to be made to the following bank account:

Account Name: Liquidity Services SA (Pty) Ltd

Account Number: 400 0506 9366

Bank Name: Investec Bank Limited

Bank Code: 580105

Swift Code: IVESZAJJXXX

3.5  The registration fee paid to Liquidity Services is a refundable fee and will only be retained in the event of default by the buyer.

3.6  The registration fee will be held in a non-interest bearing trust account of Liquidity Services pending the outcome and

finalisation of the sale.

3.7 In the event that you are not a successful bidder, this registration fee will be refunded to your nominated bank account within 3 (three) working days after the closure of the sale.

3.8 The buyer agrees and understands that should they not request a refund on their registration fee within three years after payment thereof to Liquidity Services, those funds will be forfeited to Liquidity Services.

3.9  In the event that the bidder is successful the registration fee will only be refunded once all of the purchased lots in their entirety are paid for in full and has been removed from site within the prescribed period.

3.10 The registration fee cannot be used to form part of any payment.

4.        Payment Terms & Clearance

4.1       Payment Due: within three (3) business days from the time and date of acceptance of offer(s) / close of auction.

4.2       Clearance date: The buyer has 7 days to collect lot(s) purchased, please arrange a suitable date and time for collection with the site representative.

4.3       A Buyer’s Premium of 16% will be added to your winning bid on the invoice.

4.4       VAT: 15% will be charged on the Purchase Price and Buyer’s Premium.

4.5       All monies due must be paid by electronic transfer (EFT) only.

4.6       Defaults on payments:

4.6.1.1  In the event that the payment is not received and cleared into our account within 3 days after the invoice, your invoice will be cancelled and you will be blocked from participating in our future auctions/sales for a period of 12 months.

4.6.2      We reserve the right to resell the assets and keep you liable for any shortfall and/or spilled costs.

4.6.3     In the event that the default/breach is not rectified you will not be allowed to take part in any future Liquidity Services auction/sale.