Channons Terms and Conditions for business

1. Definitions

1.1 These Definitions are incorporated in the following Terms.

"Application Form"

our registration form to be completed by either the Seller or a Buyer or their representatives;

"Auctioneer"

the representative of Channons conducting the Sale;

"Buyer"

the person to whom a Lot is knocked down by the Auctioneer. The Buyer is also referred to in the Seller`s Agreement and the Buyer`s Contract by the words "you" and "your";

"Buyer`s Contract"

the contract entered into by Channons with the Buyer attached at Appendix 2;

"Buyer`s Fee"

10% the Hammer Price;

Participants should note that all purchases made through i-bidder do attract a 3% commission fee per memorabilia item and 1% per vehicle. If you require any help you can contact the i-bidder support team on 0870 111 2201.

"Channons"

Channons Auction Limited of Chilbrook Farm Cottage, Chilbrook Road, Cobham, Surrey KT11 3PE or its successors or assigns. Channons is also referred to in the Buyer`s Contract, and the Terms by the words "we", "us" and "our";

"Commission"

the commission payable by the Seller to Channons in accordance with paragraph 4.1.3;

"Seller`s Fee"

10% of the Estimate payable in accordance with paragraph 4.1.1;

"Description"

any statement or representation in any way descriptive of the Lot, including any statement or representation relating to its attribution, condition, provenance, authenticity, style, period, age, suitability, quality, origin, value or estimated selling price (including the Hammer Price included in any Promotional Material);

"Estimate"

a statement of our opinion of the price range within which the hammer is likely to fall or the price that you request the Lot be advertised at whichever is the higher;

"Expenses"

charges and expenses paid or payable by Channons in respect of the Lot including storage expenses, legal expenses, banking charges and expenses incurred as a result of an electronic transfer of money, charges and expenses for loss and damage cover, catalogue and other reproductions and illustrations, withdrawal of Lots, any customs duties, advertising, packing or shipping costs, reproduction rights` fees, taxes, levies, costs of testing, searches or enquiries, preparation of the Lot for sale, storage charges, removal charges or costs of collection from the Seller as the Seller`s agents or from a defaulting Buyer, plus VAT if applicable;

"Hammer Price"

the price at which a Lot is knocked down by the Auctioneer;

"Lot"

any item consigned to Channons with a view to its sale at auction or by private treaty (and reference to any Lot will include, unless the context otherwise requires, reference to individual items comprised in a group of two or more items offered for sale as one Lot);

"Notice to Buyers"

the notice provided to prospective buyers at a Sale setting out the conduct and rules of a Sale;

"Promotional Material"

any material released or printed for the purpose of advertising the Sale and the Lot to potential buyers including information contained on the Website;

"Reserve"

any minimum price at which a Lot may be sold (whether at auction or by private treaty) agreed pursuant to clause 8;

"Sale"

the auction sale at which a Lot is to be offered for sale by Channons;

"Sale Price"

the Hammer Price plus VAT;

"Seller Funds"

the net amount due to the Seller from the sale of a Lot, being the Hammer Price less:- (a) the Commission, (b) any VAT, (c) Expenses; and (d) any other amount due to us in whatever capacity and howsoever arising;

"Seller"

the person who offers the Lot for sale named on the Application Form. Where the person so named identifies on the form another person as acting as his agent, or where the person named on the Application Form acts as an agent for a principal (whether such agency is disclosed to Channons or not), "Seller" includes both the agent and the principal who shall be jointly and severally liable as such. The Seller is also referred to in the Term by the words "you" and "your";

"Seller`s Agreement"

the sale contract entered into by the Seller with the Buyer at Appendix 1;

"VAT"

Value Added Tax at the applicable rate from time to time;

"Website"

www.channons.com;

"Withdrawal Fee"

2.5% of the Estimate plus VAT.

2. Our Obligations

2.1 We will:

2.1.1 arrange for a non-specialist member of our staff will carry out a visual examination of all Lots (an "Examination");

2.1.2 identify the Lot in our Promotional Material;

2.1.3 agree a Reserve with you;

2.1.4 take delivery of and store the Lot in accordance with paragraph 9;

2.1.5 expose the Lot in pre-sale viewings or any other viewings as Channons may think fit and enter the Lot in the Sale;

2.1.6 conduct the Sale in accordance with our Notice to Buyers;

2.1.7 accept payment from the Buyer of the Sale Price and hold the Seller Funds on trust for you in accordance with paragraph 13;

2.1.8 deal with a Lot sold at the Sale in accordance with paragraph 12.

3. Descriptions and Estimates

3.1 When providing an Examination, we will normally provide an Estimate or you will provide us with an Estimate.

3.2 Anything stated or represented by us or on our behalf in any Description in relation to the authorship, attribution, condition, provenances, history, background, authenticity, style, period, age, suitability, quality, roadworthiness, origin, value, or future selling price (including the Hammer Price) of any Lot or by any Estimate given in relation to it by us, in any Promotional Material whether made orally or in writing, is only an expression of our opinion and is not to be relied upon by you.

3.3 Any Descriptions, Estimates or opinions given by us or on our behalf will be given, using such skill and care as is reasonable having regard to the extent of the Examination of the Lot and any information about the Lot provided by you.

3.4 Subject to paragraph 3.3, we neither make nor agree to make any contractual promise, undertaking, obligation, guarantee, warranty or representation of fact in relation to any such Description, Estimate or opinion or in relation to the accuracy of anything stated in or represented by any expression of that Description, Estimate or opinion.

3.5 Any statements or representations contained in any Description or any Estimate may be changed by us at any time prior to the Lot being sold

4. Payments by You

4.1 Unless otherwise agreed in writing between us, you will pay to us:

4.1.1 on delivery of the Lot to us, the non-refundable Seller`s Fee;

4.1.2 if you request that the Lot be removed less than 14 days from the Sale the Withdrawal Fee will be payable on demand;

4.1.3 if the Lot is sold by us, on such sale, Commission less the Seller`s Fee on demand;

4.1.4 any Expenses on demand.

4.2 Unless otherwise stated in these Terms, all sums payable to us will be subject to VAT at the appropriate rate and VAT will be payable by you on all such sums.

4.3 Without prejudice to our other rights and remedies any sum due from you but unpaid on the due date will bear interest (after as well as before judgment or order) at a rate of 6% above the base lending rate of The Bank of England accruing on a daily basis from the date the sum became due until payment.

4.4 Time will be of the essence in relation to the payment of any sums payable by you to Channons.

5. Your Undertakings to Us

5.1 We are selling the Lot on your behalf as your agent and you undertake to us that:

5.1.1 on request, you will provide us with documentation to assist us in verifying your identity to our satisfaction;

5.1.2 you are the owner of the Lot or, if you are not the owner of the Lot (whether we are notified or not), you are duly authorised by the owner of the Lot to sell it;

5.1.3 save as disclosed to us in writing, you sell the Lot with full title guarantee free from all liens, charges, encumbrances and third party claims;

5.1.4 you are legally entitled to sell the Lot and you are legally capable of conferring on the Buyer quiet possession of the Lot and that in the event of our selling the Lot, the sale will conform in every respect with the terms implied by the Sale of Goods Act 1979, Sections 12(1) and 12(2);

5.1.5 you have complied with all requirements, legal or otherwise, relating to any export or import of the Lot and all duties and taxes in such respect have been paid;

5.1.6 all third parties have complied with such requirements in the past;

5.1.7 you have notified us in writing of any material alterations to the Lot that could affect its price and provided us accurately with all information (including any concerns expressed by third parties relating to the authorship, attribution, condition, provenance, authenticity, age, suitability, quality and origin of the Lot) in relation to the Lot, or any information concerning the Lot, of which you are aware or which is in your possession or of which any principal for whom you act in relation to the Lot is aware or possesses;

5.1.8 you have notified us of all information of which you are aware or reasonably ought to be aware relating to the present or past ownerships or use of the Lot;.

5.1.9 in so far as you or any principal may become aware of any further information (including any concerns expressed by third parties) in relation to the Lot, or any Description of it, after these Terms has been made, you will promptly inform us of it;

5.1.10 unless you notify us in writing to the contrary at the time the Lot is delivered to us, there are no restrictions, (whether copyright or otherwise), affecting the Lot or our rights to photograph or illustrate the Lot, or reproduce (in any manner and in any media) photographs or illustrations or any text of any information or Description of, about or relating to the Lot provided by you or on your behalf.

5.2 You authorise us to give to the Buyer on your behalf the undertakings or information referred to at paragraph 3.

6. Indemnities from You

6.1 You agree to indemnify us against all claims, proceedings, liabilities, costs, expenses and losses arising from:

6.1.1 any actual or alleged breach of any undertaking or obligation by you to us, whether by act or omission or otherwise;

6.1.2 any injury, loss or damage caused to any person by you or the Lot;

6.1.3 our exercising any of our rights, powers and/or duties under paragraph 13;

6.1.4 our receiving or recovering (or seeking to recover where you have authorised us to do so) the Sale Price, where our costs and expenses are not otherwise recouped by us;

6.1.5 your fraud and our exercising any of our rights in the event of fraud; and

6.1.6 without prejudice to paragraph 6.1.5, any error, misdescription or omission in any Description or any Estimate in relation to it, so long as it was not caused by a breach of our duty to you under these Terms to exercise reasonable skill and care.

7. Promotional Material

7.1 We will publish an entry about the Lot in our Promotional Materials provided to potential Buyers.

7.2 If a copy of the entry is provided to you prior to the sale you undertake to notify us if there is anything in the entry in relation to the Lot which you (or any principal on whose behalf you act) are aware is, or may be, inaccurate or incorrect or, in the case of any Description of the Lot, incomplete in any material respect.

7.3 The copyright in the text and the photographs and illustrations of the Lot contained in our Promotional Material or on our Website belongs to us. You will not reproduce or permit anyone else to reproduce such text, photographs or illustrations.

7.4 You will not produce or issue or cause to be produced or issued any marketing or Promotional Material nor make nor cause to be made any public announcements relating to the Lot prior to the Sale without our written consent.

8. Reserves

If a minimum price for sale of the Lot is agreed by you and us prior to the sale this cannot be altered prior to the sale without our prior written consent.

9. Delivery, Responsibility for the Lot, Storage and Re-collection

9.1 Unless otherwise agreed with you, you will deliver the Lot at your expense to the Location and at the time we inform you in writing.

9.2 Unless otherwise agreed in writing between you and us, we accept responsibility to you, on the basis set out in paragraph 9.3, for any damage to or loss or destruction of the Lot after delivery of the Lot in accordance with paragraph 9.1 until:

9.2.1 if the Lot is sold collection by the Buyer; or

9.2.2 if the Lot is unsold collection by you; or

9.2.3 if for any reason we put the Lot into a storage facility on collection by the Buyer or you from that storage facility.

9.3 Without prejudice to your statutory rights:-

9.3.1 our sole obligation to you under the warranty at paragraph 9.2 will be to pay you for any such damage, loss or destruction up to an aggregate amount, in the case of total loss, equal to:-

9.3.1.1 until the Lot is sold, a sum equal to the average of the high and the low price of the Estimate less the Seller`s Fee and VAT; or

9.3.1.2 after the Lot has been sold but before title in the Lot has passed to the Buyer, the Hammer Price less the Seller`s Fee and VAT.

10. Storage

10.1 From the time when the Lot is delivered to us under paragraph 9.1we will have possession of it as bailee for reward and we will owe you a duty of care until title to the Lot passes to the Buyer or is returned to you.

10.2 You authorise us, acting as your agent and on your behalf, to enter into a storage contract for the storage of the Lot from delivery until the Lot is released to the Buyer on payment of all sums due to us or you collect the Lot in accordance with paragraph 12. If we store the Lot at our own premises you will be charged a removal fee of £200 plus VAT for each vehicle and a daily storage fee of £25 plus VAT per vehicle per day. Lots other than vehicles will be subject to a removal fee of £10 plus VAT per Lot and a daily storage fee of £5 plus VAT per Lot per day. These storage fees form part of our Expenses.

10.3 You undertake to comply with the terms of any storage contract entered into in accordance with paragraph 10.2 and in particular to indemnify us for the charges due under such storage contract whilst the Lot is being stored by the storage contractor on your behalf.

11. Re-collection by you

11.1 You may by written notice to us at any time revoke your instructions to sell the Lot however, you will remain liable to pay us the Seller`s Fee, the Withdrawal Fee and the Expenses on demand and will not be permitted to remove the Lot until such payments are made. If a Lot is withdrawn by you, or if we give you notice of our refusal to sell, you must remove the Lot at your own expense immediately.

11.2 If the Lot is unsold at the Sale, you will collect and remove the Lot within 24 hours unless otherwise agreed in writing with us.

11.3 If you fail to remove the Lot you will remain subject to storage charges as set out in paragraph 10 and any further Expenses.

12. The Sale

12.1 We may at our discretion and at any time refuse to sell the Lot and we will inform you of our decision in writing.

12.2 We will conduct the Sale and will sell the Lot on your behalf on the terms of the Contract between the Buyer and the Seller at Appendix 1 unless any change is agreed in writing by you and us.

12.3 Neither you nor any person on your behalf may bid for the Lot. If you do bid and acquire the Lot you will be liable to pay the Commission, our Expenses and associated VAT due to us as the Buyer.

13. Sale Proceeds

13.1 Title to the Lot will only pass to the Buyer on receipt by us in cleared funds of the Sale Price. Once the Sale Price is paid and all other sums due to us under these Terms have been paid by you, we will release the Lot to the Buyer.

13.2 The Sale Price received by us for the Lot will be paid by us into our trust account and will be held by us upon trust for you (subject to the provisions of paragraphs 13.5 to 13.8 inclusive). On payment our obligation to you in respect of the Sale Price and the Seller Funds will be to hold the same on trust for you, and you will have no further right or recourse against us in respect of the Sale Price or the Seller Funds other than your rights as beneficiary in connection with our trust account. The funds in the account are held at your risk so that in the event of the insolvency of the bank at which the trust account is held or in the event of such bank`s delay in or failure to pay amounts standing to the credit of the account we will have no liability to you for payment of the Seller Funds, unless any loss suffered by you is attributable to our negligence or wilful default as trustee of that account.

13.3 We may deduct from the Sale Price and pay out of the trust account to our own account any monies owed by you to us including but not limited to the Seller`s Fee, any Expenses, VAT and any interest earned on the trust account.

13.4 If the Buyer`s Fee (and VAT) payable on the sale of the Lot is paid into our trust account we may pay out of the trust account to our own account the amount of the Buyer`s Fee and VAT.

13.5 We will distribute the Seller Funds held on trust for you under paragraph 13.4 within 21 days after the Sale Price is received in cleared funds by us. Payment will be made by cheque to you, and sent, at your risk, by post to you at the address shown on the Application Form or such other address as you may specify in writing. If you instruct us to send the money to your account by telegraphic transfer you agree to us deducting any fees charged by our bank for such transfer (plus VAT if applicable) from the amount transferred.

13.6 We may retain the Seller Funds in the trust account until you have delivered to us any relevant documentation reasonably required by us to evidence your right to transfer title in the Lot to the Buyer and any other documentation reasonably required by us.

13.7 If before the Seller Funds have been distributed to you from the trust account the Buyer or any other person makes a claim against either you or us in relation to the Lot, we may withhold distribution of the Seller Funds to you from the trust account until such time as the claim has been resolved.

13.8 If the Buyer fails or refuses to pay the Sale Price for the Lot to us in accordance with his obligations to do so, we will notify you of this as soon as practicable.

14. Limitation of Liability (Your attention is particularly drawn to this paragraph)

14.1 Except as otherwise set out in these Terms the following sets out our entire financial liability to you in respect of any breach of these Terms and any representation, statement, act or omission arising under or in connection with these Terms.

14.2 If either of us fails to comply with these Terms, neither shall be responsible for any losses that the other suffers as a result, except for those losses which the parties could reasonably foresee would result from the failure to comply with these Terms.

14.3 This paragraph 14 shall not prevent claims for foreseeable loss of, or damage to, the Lot caused other than in the keeping and display of the Lot.

14.4 This paragraph does not include or limit in any way the our liability for:

14.4.1 death or personal injury caused by our negligence; or

14.4.2 fraud or fraudulent misrepresentation; or

14.4.3 any breach of the obligations implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Goods and Services Act 1982; or

14.4.4 losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability; or

any other matter for which it would be illegal or unlawful for us to exclude or attempt to exclude our liability.

14.5 We expressly exclude any duty (other than to be honest) either in contract or tort in relation to anything stated or represented (expressly or by implication) to you about the Lot and no such statement or representation will be incorporated into this Terms and any such claim by you will be limited to the amount of the Seller`s Fee.

15. General

15.1 We may at any time assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights under these Terms and may subcontract or delegate in any manner any or all of its obligations under these Terms to any third party or agent. You shall not, without the prior written consent of us, assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights or obligations under these Terms.

15.2 Any notice given under these Terms shall be in writing and sent by prepaid first class post or fax to the relevant party at the address set out above (or as otherwise directed). Notice shall be deemed served within two days of posting or within 24 hours if sent by fax with a confirmed transmission report.

15.3 Any waiver by Channons of any breach of these Terms or any default by you will not be deemed a waiver of any subsequent breach or default and will in no way affect these Terms.

15.4 If a court or any other competent authority finds that any provision of these Terms (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed deleted, and the validity and enforceability of the other provisions of these Terms shall not be affected.

15.5 Nothing in these Terms is intended to, or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties.

15.6 The parties to these Terms do not intend that any term of it shall be enforceable by virtue of the Contract (Rights of Third Parties) Act 1999 by any person that is not a party to it.

15.7 Any variation, including the introduction of any additional terms and conditions, to these Terms , shall only be binding when agreed by Channons.

15.8 We will comply with our obligations under the Data Protection Act 1988.

15.9 These Terms shall be governed by, and construed in accordance with English law and the parties irrevocably submit to the exclusive jurisdiction of the English courts.

Appendix 1

Seller`s Contract

1. The Contract

1.1 These terms govern the sale of the Lot by the Seller to the Buyer.

1.2 The Definitions contained in paragraph 1.1 of the Channons Terms and Conditions for Business are incorporated into this Contract.

1.3 The Seller sells the Lot as the principal to the Contract, such contract being made between the Seller and you through Channons which acts only as the Seller`s agent.

1.4 The contract is made on the fall of the Auctioneer`s hammer in respect of the Lot when it is knocked down to you.

2. Seller`s Undertakings

2.1 The Seller undertakes to you that:

2.1.1 the Seller is the owner of the Lot or is duly authorised to sell the Lot by the owner;

2.1.2 the Seller sells the Lot with full title guarantee or, where the Seller is an executor, trustee, liquidator, receiver or administrator, with whatever right, title or interest he may have in the Lot;

2.1.3 the Seller is both legally entitled to sell the Lot, and legally capable of conferring on you quiet possession of the Lot and that the sale conforms in every respect with the Sale of Goods Act 1979;

2.1.4 the Seller has complied with all requirements, duties and taxes in respect of the export or import of the Lot and these have been paid and, so far as the Seller is aware, all third parties have complied with such requirements in the past;

2.1.5 subject to any alterations expressly identified as such made by announcement or notice at the Sale venue or by Channons in any Promotional Material, the Lot corresponds with the Description of the Lot, as set out in Channons Website or Promotional Material and with any photograph of the Lot.

3. Descriptions of the Lot

The Seller does not make or give and does not agree to make or give any contractual promise, undertaking, obligation, guarantee, warranty, or representation of fact, or undertake any duty of care, in relation to any Description of the Lot.

4. Fitness for purpose and Satisfactory Quality

The Seller does not make and does not agree to make any contractual promise, undertaking, obligation, guarantee, warranty, or representation of fact in relation to the satisfactory quality of the Lot or its fitness for any purpose.

5. Risk, Property and Title

5.1 Risk in the Lot passes to you when it is knocked down to you on the fall of the Auctioneer`s hammer in respect of the Lot. The Seller will not be responsible thereafter for the Lot prior to you collecting it from Channons. You will indemnify the Seller and keep the Seller fully indemnified from and against all claims, proceedings, costs, expenses and losses arising in respect of any injury, loss and damage caused to the Seller after the fall of the Auctioneer`s hammer until you obtain full title to it.

5.2 Title to the Lot remains in and is retained by the Seller until the Sale Price and all other sums payable by you to Channons in relation to the Lot have been paid in full to, and received in cleared funds by Channons.

6. Payment

6.1 You must pay the Sale Price when the Lot is knocked down to you on the fall of the Auctioneer`s hammer.

6.2 Time will be of the essence in relation to payment of the Sale Price and all other sums payable by you to Channons. Unless agreed in writing with you by Channons on the Seller`s behalf (in which case you must comply with the terms of that agreement), all such sums must be paid to Channons no later than 1 hour on the conclusion of the Sale and you must ensure that the funds are cleared by the seventh working day after the Sale. Payment must be made to Channons unless otherwise agreed with you in writing by Channons.

7. Collection of the Lot

7.1 Unless otherwise agreed in writing with you by Channons, the Lot will be released to you when Channons has received cleared funds to the amount of the full Sale Price and all other sums owed by you to the Seller and to Channons.

7.2 You will collect and remove the Lot at your own expense from Channons or from the location where the Lot is stored.

7.3 You will be wholly responsible for packing, handling and transport of the Lot on collection and for complying with all import or export regulations in connection with the Lot.

7.4 You will be wholly responsible for any removal, storage or other charges or expenses incurred by the Seller if you do not remove the Lot in accordance with this paragraph 7 and will indemnify the Seller against all charges, costs, including any legal costs and fees, expenses and losses suffered by the Seller by reason of your failure to remove the Lot. All such sums due to the Seller will be payable on demand.

8. Failure to Pay for the Lot

8.1 If the Purchase Price for a Lot is not paid to Channons in full in accordance with the Seller`s Contract the Seller will be entitled, with the prior written agreement of Channons but without further notice to you, to exercise one or more of the following rights (whether through Channons or otherwise):

8.1.1 to terminate immediately the Seller`s Contract of the Lot for your breach of contract;

8.1.2 to retain possession of the Lot until such sums due are paid to the Seller; or

8.1.3 without prejudice to Channons` other rights and remedies to be paid interest on any monies due (after as well as before judgment or order) at the annual rate of 6% per annum above the base rate of The Bank of England from time to time to be calculated on a daily basis from the date upon which such monies become payable until the date of actual payment.

8.2 You agree to indemnify the Seller against all legal and other costs of enforcement, all losses and other expenses and costs (including storage costs any monies payable to Channons in order to obtain the release of the Lot) incurred by the Seller (whether or not court proceedings will have been issued) as a result of Channons taking steps under this paragraph 8 on a full indemnity basis together with interest thereon (after as well as before judgment or order) at the rate specified in paragraph 8.1.3 from the date upon which the Seller becomes liable to pay the same until payment by you.

9. The Seller`s Liability

9.1 The Seller will not be liable for any injury, loss or damage caused by the Lot after the fall of the Auctioneer`s hammer in respect of the Lot.

9.2 Subject to paragraph 9.3 below the Seller will not be liable for any breach of any term that the Lot will correspond with any Description applied to it by or on behalf of the Seller or as to the satisfactory quality and fitness for purpose of the Lot, whether implied by the Sale of Goods Act 1979 or otherwise.

9.3 Unless the Seller sells the Lot in the course of a Business and the Buyer buys it as a Consumer:

9.3.1 the Seller will not be liable (whether in negligence, other tort, breach of contract or statutory duty or in restitution or under the Misrepresentation Act 1967, or in any other way) for any lack of conformity with, or inaccuracy, error, misdescription or omission in any Description or estimate of the Lot in any Promotional Material in relation to the Lot made by or on behalf of the Seller (whether made in writing, or on the Website, or orally, or by conduct or otherwise) and whether made before or after this agreement or prior to or during the Sale;

9.3.2 the Seller will not be liable for any loss of business, business profits or revenue or income or for loss of reputation or for disruption to business or wasted time on the part of the Buyer or of the Buyer`s management or staff or, for any indirect losses or consequential damages of any kind, irrespective in any case of the nature, volume or source of the loss or damage alleged to be suffered, and irrespective of whether the said loss or damage is caused by or claimed in respect of any negligence, other tort, breach of contract, statutory duty, restitutionary claim or otherwise;

9.3.3 in any circumstances where the Seller is liable to you in respect of the Lot, or any act, omission, statement, or representation in respect of it, or this agreement or its performance, and whether in damages, for an indemnity or contribution or for a restitutionary remedy or in any way whatsoever, the Seller`s liability will be limited to payment of a sum which will not exceed by way of maximum the amount of the Sale Price irrespective in any case of the nature, volume or source of any loss or damage alleged to be suffered or sum claimed as due, and irrespective of whether the liability arises from any negligence, other tort, breach of contract, statutory duty, bailee`s duty, restitutionary claim or otherwise.

9.4 Nothing set out in paragraphs 9.1 to 9.3 above will be construed as excluding or restricting (whether directly or indirectly) any person`s liability or excluding or restricting any person`s rights or remedies in respect of fraud, death or personal injury caused by the Seller`s negligence (or any person under the Seller`s control or for whom the Seller is legally responsible), or any other liability to the extent the same may not be excluded or restricted as a matter of law.

10. General

10.1 The Seller may at any time assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights under this contract and may subcontract or delegate in any manner any or all of its obligations under this contract to any third party or agent. You shall not, without the prior written consent of the Seller, assign, transfer, charge, subcontract or deal in any other manner with all or any of your rights or obligations under this contract.

10.2 Any notice given under this contract shall be in writing and sent by prepaid first class post or fax to the relevant party at the address set out above (or as otherwise directed). Notice shall be deemed served within two days of posting or within 24 hours if sent by fax with a confirmed transmission report.

10.3 Any waiver by the Seller any breach of this contract or any default by you will not be deemed a waiver of any subsequent breach or default and will in no way affect this contract.

10.4 If a court or any other competent authority finds that any provision of this contract (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed deleted, and the validity and enforceability of the other provisions of this contract shall not be affected.

10.5 Nothing in this contract is intended to, or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties.

10.6 The parties to this contract do not intend that any term of it shall be enforceable by virtue of the Contract (Rights of Third Parties) Act 1999 by any person that is not a party to it.

10.7 Any variation, including the introduction of any additional terms and conditions, to this contract, shall only be binding when agreed by both parties.

10.8 This agreement shall be governed by, and construed in accordance with English law and the parties irrevocably submit to the exclusive jurisdiction of the English courts.

Appendix 2

Buyer`s Contract

1. The Contract

1.1 These terms govern the contract between Channons and the Buyer.

1.2 The Definitions contained in paragraph 1.1 of Channons Terms and Conditions of Business are incorporated into this agreement.

1.3 The Seller`s Contract is made on the fall of the Auctioneer`s hammer in respect of the Lot, when it is knocked down to you. At that moment a separate contract is also made between you and Channons on the terms in this Agreement.

1.4 We agree, subject to the terms below once you have paid to us, in cleared funds, all sums due to us and the Seller, to the following obligations:

1.4.1 we will, unless otherwise notified to you, store the Lot in accordance with paragraph 4.3;

1.4.2 subject to any power of the Seller or us to refuse to release the Lot to you, we will release the Lot to you in accordance with paragraph 4.

1.5 We do not make or give and do not agree to make or give any contractual promise, undertaking, obligation, guarantee, warranty, representation of fact in relation to any Description or any Estimate in relation to it, nor of the accuracy or completeness of any Description or Estimate which may have been made by us or on our behalf or by or on behalf of the Seller (whether made orally or in writing, including in any Promotional Material or on our Website, or by conduct, or otherwise), and whether made before or after this agreement or prior to or during the Sale. No such Description or Estimate is incorporated into this agreement between you and us. Any such Description or Estimate, if made by us or on our behalf, was (unless Channons itself sells the Lot as principal) made as agent on behalf of the Seller.

1.6 You agree to on request provide us with documentation to assist us in verifying your identity to our satisfaction.

2. Performance of the Seller`s Contract

You undertake to us that you will observe and comply with all your obligations and undertakings to the Seller under the Seller`s Contract.

3. Payment

3.1 Unless agreed in writing between you and us, you must pay to us the Sale Price and any Expenses due for the Lot by no later than 1 hour following the Sale. You must also pay us on demand any Expenses payable pursuant to this agreement.

3.2 Our invoices will be addressed to you or the bidder acting as agent for you.

3.3 All sums payable to us are exclusive of VAT which will be payable by you on all such sums.

3.4 We may deduct and retain for our own benefit from the monies paid by you to us the Commission payable by the Seller in respect of the Lot, any Expenses and VAT and any interest earned and/or incurred until payment to the Seller.

3.5 Time will be of the essence in relation to any payment. If you do not pay the Sale Price, or any other sum due to us in accordance with this paragraph 3, we will have the rights set out in paragraph 7 below.

4. Collection of the Lot

4.1 Subject to any power of the Seller or us to refuse to release the Lot to you, once you have paid to us, in cleared funds, all monies due to the Seller and to us, we will release the Lot to you.

4.2 Subject to clause 4.1 you must collect and remove the Lot from the location we inform you of at your own expense within 1 hour after the Sale. If the Lot is purchased online and neither your representative or you is attending the Sale, the Lot may be collected within 48 hours from the specified location. If you require further time to collect the Lot we must agree the terms of such collection in writing.

4.3 We agree to store the Lot until the earlier of your removal of the Lot or until the time set out in paragraph 4.2 and, subject to paragraph 6, to be responsible as bailee to you for damage to or the loss or destruction of the Lot (notwithstanding that it is not your property before payment of the Sale Price).

4.4 If you have not collected the Lot by the date specified in paragraph 4.3, the Lot may be stored either at a third party storage facility strictly to our order or at our premises. If we store the Lot at our own premises you will be charged a removal fee of £200 plus VAT for each vehicle and a daily storage fee of £25 plus VAT per vehicle per day. Lots other than vehicles will be subject to a removal fee of £10 plus VAT per Lot and a daily storage fee of £5 plus VAT per Lot per day. These fees will be payable by you from the expiry of the period referred to in paragraph 4.2. These storage fees form part of our Expenses.

4.5 You undertake to comply with the terms of any storage contract entered into in accordance with paragraph 4.4 and in particular to indemnify us for the charges due under such storage contract whilst the Lot is being stored by the storage contractor on your behalf.

4.6 Until you have paid the Purchase Price and any Expenses in full the Lot will be held by us as agent on behalf of the Seller.

4.7 You will be wholly responsible for packing, handling and transport of the Lot on collection and for complying with all subsequent import or export regulations in connection with the Lot.

4.8 You will be wholly responsible for any removal, storage, or other charges for any Lot not removed in accordance with paragraph 4.3, and any Expenses we incur, all of which must be paid by you on demand and in any event before any collection of the Lot by you or on your behalf.

5. Responsibility for the Lot

Only on the payment of the Sale Price to us will title in the Lot pass to you. However under the Seller`s Contract, the risk in the Lot passes to you when it knocked down to you and you are advised to obtain insurance in respect of the Lot as soon as possible after the Sale.

6. Failure to Pay or to Remove the Lot and Part Payments

6.1 If all sums payable to us are not so paid in full at the time they are due and/or the Lot is not removed in accordance with this agreement, we will without further notice to you be entitled to exercise one or more of the following rights (without prejudice to any rights we may exercise on behalf of the Seller):

6.1.1 to terminate this agreement immediately for your breach of contract;

6.1.2 to retain possession of the Lot;

6.1.3 to remove, and/or store the Lot at your expense;

6.1.4 to take legal proceedings against you for payment of any sums payable to us by you (including the Purchase Price) and/or damages for breach of contract;

6.1.5 without prejudice to our other rights and remedies to be paid interest on any monies due to us (after as well as before judgment or order) at the annual rate of 6% per annum above the base lending rate of The Bank of England from time to time to be calculated on a daily basis from the date upon which such monies become payable until the date of actual payment;

6.1.6 to apply any monies received from you for any purpose whether at the time of your default or at any time thereafter in payment or part payment of any sums due to us by you under this agreement.

6.2 You agree to indemnify us against all legal and other costs, all losses and all other expenses (whether or not court proceedings will have been issued) incurred by us as a result of our taking steps under this paragraph 6 on a full indemnity basis together with interest thereon (after as well as before judgment or order) at the rate specified in paragraph 6.1.5 from the date upon which we become liable to pay the same until payment by you.

6.3 If you pay us only part of the sums due to us such payment shall be applied firstly to the Sale Price of the Lot (or where you have purchased more than one Lot pro-rata towards the Sale Price of each Lot) and secondly to any other sums due to us.

6.4 We will account to you in respect of any balance we hold remaining from any monies received by us in respect of any sale of the Lot under our rights under this paragraph 6 after the payment of all sums due to us and/or the Seller within 28 days of receipt by us of all such sums paid to us.

7. Our Liability (The Buyer`s attention is particularly drawn to this paragraph)

7.1 The following sets out our entire financial liability to you in respect of any breach of this agreement and any representation, statement, act or omission arising under or in connection with this agreement.

7.2 If either of us fails to comply with this agreement, neither shall be responsible for any losses that the other suffers as a result, except for those losses which the parties could reasonably foresee would result from the failure to comply with this agreement.

7.3 This paragraph 7 shall not prevent claims for foreseeable loss of, or damage to, the Lot caused other than in the keeping and display of the Lot.

7.4 This paragraph does not include or limit in any way the our liability for:

7.4.1 death or personal injury caused by its negligence; or

7.4.2 fraud or fraudulent misrepresentation; or

7.4.3 any breach of the obligations implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Goods and Services Act 1982; or

7.4.4 losses for which it is prohibited by section 7 of the Consumer Protection Act 1987 to limit liability; or

7.4.5 any other matter for which it would be illegal or unlawful for us to exclude or attempt to exclude our liability.

7.5 We expressly exclude any duty (other than to be honest) either in contract or tort in relation to anything stated or represented (expressly or by implication) to you about the Lot and no such statement or representation will be incorporated into this Terms and any such claim by you will be limited to the amount of the Buyer`s Fee.

8. General

8.1 We may at any time assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights under this agreement and may subcontract or delegate in any manner any or all of its obligations under this agreement to any third party or agent. You shall not, without the prior written consent of us, assign, transfer, charge, subcontract or deal in any other manner with all or any of its rights or obligations under this agreement.

8.2 Any notice given under this agreement shall be in writing and sent by prepaid first class post or fax to the relevant party at the address set out above (or as otherwise directed). Notice shall be deemed served within two days of posting or within 24 hours if sent by fax with a confirmed transmission report.

8.3 Any waiver by us of any breach of this agreement or any default by you will not be deemed a waiver of any subsequent breach or default and will in no way affect this agreement.

8.4 If a court or any other competent authority finds that any provision of this agreement (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed deleted, and the validity and enforceability of the other provisions of this agreement shall not be affected.

8.5 Nothing in this agreement is intended to, or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties.

8.6 The parties to this agreement do not intend that any term of it shall be enforceable by virtue of the Contract (Rights of Third Parties) Act 1999 by any person that is not a party to it.

8.7 Any variation, including the introduction of any additional terms and conditions, to this agreement , shall only be binding when agreed by us.

8.8 We will comply with our obligations under the Data Protection Act 1988.

8.9 This agreement shall be governed by, and construed in accordance with English law and the parties irrevocably submit to the exclusive jurisdiction of the English courts.