CONDITIONS OF SALE FOR MACHINERY SALES THROUGH BROWN & CO NATIONAL ONLINE TIMED AUCTION

1 DEFINITIONS

In these conditions the following terms have the following meanings unless inconsistent with the context:

“Auctioneers” means Brown & Co – Property and Business Consultants LLP (‘Brown & Co)

“Host” means iBidder.com – The host website portal for this auction.

“Commission” means the commission charged on the sale of Lots

“Conditions” means the standard terms and conditions of business set out in this document

“Lots” means all or any machinery and other items sold or intended to be sold in accordance with these conditions

“Purchaser” means a person, firm or Company who purchase any Lot

“Vendor” means a person, firm or Company who puts forward any Lot intended to be sold at the sale

“Sale” means a sale of the Lots by auction from time to time organized by the auctioneers

“Storage Location” means the venue at which the specific lot is stored during the sale period and is available for viewing (please note Brown & Co staff will not be available to attend viewings).

“Sale price” means the price at which a Lot is sold to the winning buyer.

“Sale Proceeds” means the net amount due to the Vendor being the Sale price of the lot sold less commission and expenses and any other amounts due to the Auctioneer by the Vendor in whatever capacity and howsoever arising

“Reserve Price” means the minimum price fixed by either the Auctioneers or Vendor at which any Lot is to be sold at the sale

“Auction Period” means the duration of the timed auction as advertised. Any time periods running from the end of the Auction Period commence at the closing time of the Auction Period.

Except where the context otherwise requires words denoting the singular include the plural and vice versa; words donating one gender includes all genders, words denoting persons include corporations.

2 CONDITIONS OF SALE

All persons registered to bid at the Sale in any capacity are deemed to bid on the understanding that they have read and understood these Conditions. These Conditions may be supplemented or superseded by Special Conditions applicable to specific Sales, any such special conditions will be noted within the descriptions of specific lots.

3HEALTH AND SAFETY

(i)All persons viewing a lot do so at their own risk and with notice of the condition of the premises and their contents.

(ii)All persons viewing a lot are hereby made aware that there may be significant risks on the Storage Location including moving machinery and equipment; Caution should be exercised at all times and children and animals/pets must be fully supervised at all times.

(iii)All persons viewing a lot must take notice of all specific health and safety notices on display at individual sites. If in doubt, please consult the Auctioneer in charge.

(iv)Any accidents or incidents that occur on the Storage Location must be immediately reported to Brown & Co and the Vendor and details recorded in the appropriate accident books. No powered machinery or equipment should be started without the prior approval of the Auctioneers or the vendor.

(v)Any vehicles brought onto the Storage Location to collect lots should be operated with extreme caution and within a 5mph speed limit. Loading using machinery should only be undertaken by suitably qualified and experienced operators.

(vi)The Auctioneers shall have the right at their discretion to refuse admission to their premises or those of their clients by any person.

4 AUCTIONEERS STATUS

(i) The Auctioneers sell as agents for the Vendor except where they are stated wholly or partly to own any Lot as principal.

(ii) The parties to the contract of sale are the Vendor and the Purchaser and the Auctioneers as such are not responsible for any default by Vendor or Purchaser.

(iii) The Auctioneers includes any employee or agent of the Auctioneers who at the relevant time has the authority to conduct an auction sale.

5 EXCLUSION OF LIABILITY

(i) The Auctioneers shall not be liable for any expense, loss, claim or proceedings in respect of any loss or damage whatsoever to any property real or personal (including any Lots) whether incurred before, during or after the Sale.

(ii) The Auctioneers shall not be liable for any expense, loss, claim or proceedings in any respect or personal injury to or death of any person arising out of or in the course of or caused by the Sale, except to the extent that the same is due to the negligence of the Auctioneers, their servants or agents.

6 WARRANTY

In case of dispute as to the interpretation of these Conditions the decision of the Auctioneers shall be final and binding on all parties save as provided for in Clause 18.

7 RESERVATIONS

(i) The Auctioneers sell as agent for the Vendor and as such are not responsible for any default by the Vendor or Purchaser.

8 CATALOGUES AND ADVERTISEMENTS

The Auctioneers cannot guarantee that any Lot described in any Catalogue or advertisement nor that any description therein contained can be relied upon as accurate. Any illustrations in Catalogues are for general identification only.

9 RESERVE PRICE AND BIDDING

(i) The Purchaser shall be the person who makes the highest bid acceptable to the Auctioneers.

(iii) No bidding shall be retracted. The bidding increments will be regulated by the Auctioneers.

(iv) All Lots must be inspected by the Purchaser who bids on the understanding that he has inspected (or is deemed to have inspected the Lot for which he is bidding and agrees to take it with all faults and imperfections (subject to Clause 20).

(vi) The Auctioneers may without giving any reason, refuse to accept the bidding of any person.

(vii)The Auctioneers and/or the Vendor reserve the right to fix a Reserve Price for any lot.

10 PAYMENT

(i)All Purchasers must register their names and addresses before they are permitted to bid in an online sale, The Auctioneers reserve the right to reject or terminate any registration at its sole discretion.

(ii)On conclusion of the Auction period Brown & Co will notify the buyer by email to confirm:

(a)That the Buyer is the winning bidder

(b)The amount of the successful bid

(iii)Attached to the notification email will be an invoice for the amount of the winning bid plus any relevant commission and VAT.

(iv)All lots must be paid for within 5 working days of the conclusion of the Auction period.

(v)The Auctioneers may at their absolute discretion, agree to accept payment by such other means or such other manner as they see fit.

(vi)All payments must be made by either Cheque, Bankers Draft, Postal Order, Debit Card, BACS or CHAPS, payments will not be accepted by credit card.

11 RESERVATION OF TITLE

(i) The Auctioneers shall ensure that the title in the Lot remains vested in the vendor (or Auctioneers as Agents of the Vendor) until payment in full has been made. If the Vendor has been paid, but the goods not paid for the title remains with the Auctioneers, until full payment has been made.

12 RESPONSIBILITY FOR LOTS

After the close of the sale such risk and duty shall devolve upon the Purchaser.

13 VALUE ADDED TAX ON PURCHASE PRICE

VAT at the standard applicable rate will be added to the sale price of all lots unless they are exempt.

14 WARRANTY AND INSPECTION OF GOODS