CONDITIONS OF SALE

1.Throughout these terms and conditions the following definitions shall have effect:-

“The Auctioneer”means Asset Management Services (UK) Ltd

“The Buyer”means the highest bidder for each Lot

“Lot”means any goods comprised in a Lot referred to in the Catalogue of which these conditions form part

“Vendor”means the person, firm or Company instructing the Auctioneer to sell each Lot and includes the Vendor’s agents.

2.These Conditions govern the sale by the Auctioneer of each Lot to the exclusion of all other terms and conditions. All warranties, conditions or other terms implied by statute or common law are excluded to the fullest extent permitted by law.

3.The Auctioneer reserves the right to fix a reserve price for any Lot.

4.The Auctioneer may, at his discretion or upon the instruction of the Vendor:-

(a)Alter or withdraw any Lot up to the moment at which the hammer falls in relation to such Lot.

(b)Where a reserve has been placed on any Lot, withdraw that Lot in the event that the highest bid does not meet the reserve.

(c)Where two or more consecutive Lots are similar in quantity and description, offer the second and subsequent Lots (or any of them) to a Bidder purchasing the first Lot at the same price.

5.The Auctioneer sells as agent for the Vendor and as such are not responsible for any default by the Vendor or Buyer.

6.The Vendor may bid for any Lot offered at the Auction.

7.The highest bidder for each Lot shall be the Buyer. If any dispute arises between the Bidders, the Auctioneer may at his discretion decide to either re-sell the Lot in dispute, decide the dispute or withdraw the Lot.

8.The advances in the bidding shall be regulated by the Auctioneer who may, without giving any reason, refuse to accept the bidding from any person.

9.EACH INTENDING BIDDER MUST REGISTER WITH THE AUCTIONEER AND BE ALLOCATED A PADDLE (BIDDER) NUMBER BEFORE HE BIDS FOR ANY LOT. EACH INTENDING BIDDER WILL BE ASKED TO PROVIDE SATISFACTORY IDENTIFICATION SUCH AS A PASSPORT OR DRIVER LICENCE.

10.Each Lot shall be at the Buyer’s risk from the fall of the hammer but must be paid for in full before property in the goods passes to the Buyer. As from the fall of the hammer, the Buyer shall be obliged to insure his Lot(s) against all risks which he shall deem appropriate. The Buyer shall be liable for a late payment/storage charge of £25.00 plus V.A.T. per Lot per day (whether or not the Lot has been paid for) starting from the date stipulated in Condition 22 and continuing until the Lot is removed or sold. The Lots purchased will not be released to the Buyer or any Third Party until this charge is paid in full.

11.Lots on which V.A.T. is payable by the Buyer are indicated by an asterisk in the Catalogue. V.A.T. is payable at the rates payable on the day of the Auction.

12.PAYMENT: - No items purchased will be released from the Auctioneer’s premises until cleared funds ie. Cash, Bankers Draft, Building Society Cheque, Debit and Credit Cards (see below) have been received in full within the given time constraints as detailed in Condition 22. All Buyers must Register prior to the Sale. No Lot may be removed during the Auction. Subject to the above, each Lot purchased by the Buyer shall be removed within three working days of the Auction.

We accept the following credit cards: Visa, Mastercard & Eurocard. However, there will be a 2.1% plus VAT surcharge on the total amount payable which is an administration charge passed on by the Credit Card Company. Switch/Delta – no charge

We accept immediate Money Transfers in the form of BACS, CHAPS and Telegraphic Transfers directly into our Clients Account detailed Below.

Lloyds TSB Bank PLC

Account no. 31892168

Sort Code. 30-95-72

Iban. GB70 LOYD 3095 7231 8917 68

BIC/SWIFT. LOYDGB21108

13.EXPORT: - All items purchased by Purchasers from other E.C Countries and outside the E.C, must inform the Cashier this intention immediately after purchasing the Specified Lots and will be dealt with accordingly. Buyers from outside the E.C must supply documentation evidence as in Shipping Certificate, Original Bill of Lading clearly stating these items exported.

14.MONEY LAUNDERING REGULATIONS: - In order to comply with the above regulations, Assets Management Services (UK) Ltd do not accept cash payments for sums in excess of £10,000.

15.A Caterer will be in attendance on the day of the Sale for Light Refreshments.

16.Should any Third Party claim possession or title to all or part of a Lot prior to its removal from the Auctioneer’s premises, the Auctioneer reserves the right to rescind the sale thereof, or to permit the removal thereof from the Auctioneers premises, subject to such conditions as he may see fit to impose.

17.ALL ITEMS ARE SOLD AS SEEN UNLESS SPECIFICALLY STATED IN THE CATALOGUE. All goods are sold with all faults, imperfections and errors of description. Illustrations in catalogues are for general identification only. Buyers should satisfy themselves prior to the Auction as to the condition of each Lot. Any statement by the Auctioneer as to the Lot is a statement of opinion only and every person should rely on his judgement as to all matters affecting the Lot.

18.The Auctioneer has used all reasonable endeavours to ensure that the description of each Lot is accurate and the Buyer relies upon such description at his own risk. The Buyer is advised to inspect any Lot for which he intends to bid. The Auctioneer and the Vendor hereby exclude all liabilities for any loss or damage sustained by the Buyer as a result of or in connection with a defect in any Lot purchased, or mis-description contained in the Catalogue, the failure thereof to fulfil the functions for which they were intended by the Buyer, or any damage or loss occasioned thereto, prior to the same being removed from the Vendor’s premises. The Auctioneer does not warrant the Vendor’s title to any Lot which is sold with such title as the Vendor may have.

19.HEALTH & SAFETY LEGISLATION & SUPPORTING REGULATIONS

It is expressly brought to the Buyer’s attention that at the time of sale, each item of Plant, Machinery or Equipment referred to in the Catalogue may not necessarily comply with the Health & Safety at Work, etc. Act 1974, the Agriculture (Field Machinery) Regulations 1962, Agricultural (Tractor Cabs) Regulations 1974, & all other Acts & Regulations applicable to Farm Safety or any form of legislation (including statutory instruments and directives of the European Commission) there under governing the use of that Plant, Machinery or Equipment in a working environment and the basis of its supply. Successful Buyers for any such Plant, Machinery or Equipment are hereby required to ensure that the use of any such at a place of work within the United Kingdom does not contravene such legislation. The Buyer acknowledges that he must rely absolutely on the Buyer’s own opinion and its own professional advice concerning each Lot, the quality, state and condition of the goods forming the same, their fitness and/or suitability for any purpose, the possibility that some or all of them may have defects not apparent on inspection and examination (which could even render it inappropriate that they should be described as they are in fact described in the Catalogue) the reason the Buyer has for purchasing the same and the use it intends to put them to. The Buyer confirms to the Vendor and the Auctioneer that it has available to it (either internally or externally) skilled professional and technical advice concerning each Lot and will (if successful) comply with all such advice prior to using the goods.

20.Damage caused to the Auctioneer’s premises when removing Plant and Machinery must be made good by the Buyer responsible for the damage. The Auctioneer reserves the right to make the final decision as to whether damage has been caused and to its cost. The Vendor and the Auctioneer accept no responsibility for any damage caused to any Lot during the course of its dismantling/removal from the site.

21.The Vendor and the Auctioneer will not be responsible for any injury to any person visiting/viewing or removing any Lot or for any damage caused to any vehicle attending the Auctioneers premises and the car parking area adjacent thereto. Such persons attend at their own risk.

22.PLEASE NOTE ALL ITEMS PURCHASED MUST BE PAID FOR AND REMOVED BY NO LATER THAN 1PM ON THE FRIDAY, AFTER THE SALE. UNTIL THAT TIME, ACCESS WILL BE AVAILABLE DURING NORMAL WORKING OFFICE HOURS OF 9AM – 5PM. AFTER THE FINAL DATE OF COLLECTION, UNCOLLECTED ITEMS WILL BE REMOVED TO COMPANY STORAGE AND AMS RESERVE THE RIGHT TO IMPOSE A DAILY CHARGE OF £25.00 PER LOT AS STATED IN CONDITION 10.

23.PLEASE NOTE: NO ITEMS ARE TO BE LOADED OR UNLOADED DURING THE COURSE OF THE AUCTION SALE.