Generator Set Meissner Man 2540 MTE 300 KVA

1. The auction shall be under the control of ACTION SPECIALIST & its duly authorized employees, representatives and agents.  AUCTION SPECIALITS in its sole and absolute discretion, shall conduct, regulate and record, (mechanically or otherwise) the auction. The recording of the auction shall constitute prima facie proof of auction proceedings.

2. AUCTION SPECIALIST may withdraw any item(s) from any group of assets (lots) on auction at any time before sale thereof, without there being any penalty or need for any prior notice.

3. The highest acceptable bidder shall be the purchaser of respective lot(s). AUCTION SPECIALIST decision in this regards shall be final and binding on all parties attending the auction itself.

4. Should a dispute arise, AUCTION SPECIALIST may in its sole discretion and its sole election, elect either to, determine or appoint the Purchaser, or to re-auction the lots(s). AUCTION SPECIALIST DECISION in this regard shall be final and binding on all parties attending the auction.

5. Specials terms and conditions relating to each auction, and /or to any of the lots may be announced prior to the commencement of the auction and or during the auction itself.

6. The purchaser shall be bound by all the terms and conditions specified during the announcements irrespective of whether he/she is present at the time such announcements are made.

7. On the fall of the hammer of each and every auction, a sale will be finally and irrevocably concluded, subject only to any sus pensive terms and Conditions as may be applicable to the lots(s).

8. The Risk in and the lots(s) sold shall pass to the purchaser on the fall of the hammer, even though delivery has not yet taken place. The purchaser shall bear the risk in and to lots remaining at AUCTION SPECIALISTS premises within 3 (three) days of the auction.

9. All sales are voetstoets. The purchaser shall not be deemed to have inspected, thoroughly examined the lots, nor AUCTION SPECIALIST gives any warranties or guarantees or makes any representations in regards to the condition or state of any of the lots. AUCTION SPECIALITS shall not be liable for any errors of description of any of the lots.

10. The purchaser indemnifies AUCTION SPECIALIST against any claim  Or damage the Purchaser may suffer relating to the lots, including any errors regarding description of any of the lots.

11. All bids made at the auction are exclusive of VAT and Purchasers premium. The purchaser shall not be entitled to take delivery of the lots until: (A) Payment of full purchase price has been made to AUCTION SPECIALIST and has cleared in AUCTION SPECIALIST bank account. (B) Provided that in the case of all other items including motor vehicles sales, requiring the completion and delivery of documents by the seller or any third party, AUCTION SPECIALIST to hand over to the purchaser.

12. The purchaser shall not be entitled to cancel the sales as a result of there not being timeous delivery or signage of the required documents.  The purchaser irrevocably waives his/her its rights in this regard.

13. AUCTION SPECIALIST shall be entitled, without Penalty, to cancel the sale should the required documents not be signed an d delivered to AUCTION SPECIALISTS (Pty) Ltd within 21 (twenty one) days of the date which the sale becomes unconditional. The said 21 days period may be extended by AUCTIONS SPECIALIST for a further 14 (fourteen days) in AUCTION SPECIALIST sole and absolute discretion. In the event of any Purchaser failing to pay the full purchase price of any lots (the sale price) within the applicable time ( as per the relevant announcement) and or failing to remove the lots as foresaid, and /or otherwise failing to comply with any of the these terms and conditions, then without prejudice to any other rights which AUCTION SPECIALIST enjoys the purchaser shall irrevocably forfeit to AUCTION SPECIALIST any deposit paid by the purchaser for and on the purchasers behalf. AUCTION SPECIALST shall in addition, have alien over the lots and shall have the right to re –sell such lots without notice to the purchaser, should AUCTION SPECIALIST re-sell such lots and should the net proceeds thereof after deducting commission and all costs incurred by having to re-sell, be less than the sale price, the purchaser shall forthwith upon demand pay AUCTION SPECIALSIT as pre estimated, liquidated damages such difference less any deposited forfeited. This shall be without prejudice to the seller and/ or AUCTION SPECIALIST rights to claim all amounts/damaged which it/they claim in law. AUCTION SPECILAISTS shall under no circumstances be liable to purchaser for any losses or damage suffered by the purchaser as a result of the auction or termination of any sale concluded in respect of any lots in question and or the failure of AUCTION SPECIALIST to deliver any of the lots.

14. The purchaser choses as his/her its chosen domicillium citandi ET executandi.

15. For all purpose arising here from, the physical address reflected above.

16. The purchaser contents to the jurisdiction of the Magistrate court. AUCTION SPECIALIST shall be entitled to institute an action in any competent division of the High Court of South Africa it elects to do so.

17. In the event of it becoming necessary for AUCTION SPECISLIT to take action against the purchaser, the purchaser agrees to pay all the attendant costs and expenses incurred, including all legal costs incurred as between attorney and own client, should AUCTION SPECIALIST institute legal proceedings against the purchaser.

18. By signing this document the signatory hereby cedes assigns transfers and makes over the unto and in favour of the seller and or the auctioneer his/her right title and interest to all his/her its movable property and if necessary immovable property registered in his/her name such as is sufficient to satisfy his/her indebtness to the seller and the auctioneer.  To this end the signatory hereby authorises any of the sheriffs of the high court or his deputy in the jurisdiction of the high court in which the goods in question were sold in terms of the auction to act on his behalf in rem suam and if necessary documentation for his behalf necessary to give effect to his clause and the terms and conditions set out herein. In the event of the signatory opposing any legal proceedings instituted in terms of this clause any costs order obtained against the signatory in any Court of law shall be on the scale as between attorney and own client.

19. By signing this document, the signatory hereby binds himself jointly.

20. And severally as surety and co-principal debtor in solidum with the purchaser (if the signatory has signed on behalf of the purchaser) unto and in favour of AUCTION SPECIALSIT for payment of all amounts due hereunder and the fulfilment of all obligations by the purchaser. This surety ship shall apply to no payment which AUCTION SPECIALSIT, may receive from the purchaser shall prejudice AUCTION SPECIALIST rights to recover from the signatory to the full extent of the surety ship, any sum which after receipt of any payments will remain in full force and effect until such time as the purchaser has liquidated his/her its indebtedness to AUCTION SPECIALIST in full. The signatory for the full amount owing under surety ship without first proceeding against the purchaser division-(i.e. AUCTION SPECIALIST will become entitled to sue the signatory without first ceding AUCTION SPECIALIST of action against the purchaser to the signatory.

 21. Words signifying the singular shall include the plural and vise versa.

22. Save for the announcements’ referred to above these terms and conditions shall constitute all the conditions of sale and no variations or amendments hereto shall be of any force or effect unless reduced to writing and signed by all applicable parties, AUCTION SPECIALIST. The seller, the purchaser and the signatory have no warranties or representatives whether express or implied shall be of any force and effect save insofar as same are repeated and recorded.

23. No indulgence which AUCTION SPECIALIST or the SELLER, who shall not hereby be prejudice from the exercising of any rights against the purchaser which may have risen in the past or might arise in the future.