Design: Circuit Bus  Artist: Eloise Kerr    About the artist  Eloise Kerr is a Scottish artist and

Terms and Conditions

 Bidding will take place online from Monday 8 December as well as a live auction to be hosted on 24^th of March 2015. The purpose of the auction is to raise funds for charitable purposes.

 1.             Our relationship

1.1.          These Conditions form the agreement between you, TfL and the Seller.

1.2.          By making a bid, a Bidder acknowledges his acceptance of these Conditions and agrees to be bound by them.

1.3.          The contract for the sale of a Lot is subject to these Conditions.

2.             Bidding on Lots

2.1.          All Lots are sold as seen. If you are interested in a Lot, you are advised to view it in person before the auction and form your own opinion of the description of the Lot.

2.2.          Lots by their nature may vary in condition. Before sale each Lot will be inspected and restored to a satisfactory standard where possible. The absence of any description of a defect, damage, modification or restoration in any Catalogue does not imply that there are none.

2.3.          No warranty (written or oral) or other term (whether express or implied and whether implied by statute, common law, custom or otherwise) as to correctness of any description, suitability, fitness for purpose, or satisfactory quality of the Lot is given by TfL to any Buyer in respect of any Lot, and any express or implied conditions or warranties are excluded to the fullest extent permitted by law.

2.4.          Statements and illustrations made in the Catalogue, during the course of the auction or elsewhere describing a Lot in any manner are intended as a guide for Bidders. These are statements of opinion only and should not be relied on as statements of fact. Illustrations of Lots are for identification only.

2.5.          We reserve the right to change any aspect of the published description of a Lot prior to the auction. Any change will be appropriately communicated.

2.6.          All copyright in Catalogues including images belongs to TfL.

3.             The auction

3.1.          Before the auction, all potential Bidders must register as a Bidder by giving their name and address to TfL and, if required, provide proof of identity to our satisfaction and bank or other credit references.

3.2.          The online auction will be live until the Tuesdau 24^th of March, TfL will select a selection of the Lots for the live auction on the 24^th of March 2015. Highest Bidders will be advised by email and invited to partake in the live auction event either in person or online. On the 24^th of March 2015 the online auction site will reopen to allow competitive bidding with the live auction.

3.3.          Hidden Reserve Prices have been set for each of the Lots: should these thresholds be met, I-Bidder will contact the last three unique Bidders and request best and final offers for the sale of the Lot.

3.4.          Buy it Now prices may be added to the site at any time, communication will be sent to all Bidders advising of these changes.

3.5.          The highest winning Bidder for each Lot shall be the Buyer. If there is a dispute, TfL shall have absolute discretion to determine the dispute including re-offering the disputed Lot for sale.

3.6.          A Bidder must submit a bid for an entire Lot and each Lot constitutes a separate sale. Bidding shall be regulated at the absolute discretion of TfL. TfL has the right to refuse any bid.

3.7.          Subject to Condition 4.2, the contract for the sale of the Lot is concluded on the strike of the hammer.

3.8.          All Lots are offered for sale subject to any Reserve.

3.9.          You cannot cancel your purchase of a Lot once the hammer has fallen at the end of either the online or live auctions.

4.             Payment

4.1.          The Purchase Price payable by a Buyer is the Hammer Price plus the Buyer's Premium. VAT is payable in addition unless it is exempt or zero-rated.

4.2.          At the live auction: Immediately after the Hammer Price has been determined for a Lot,  the Buyer shall attend the relevant clerk and/or follow the appropriate process as notified to the Buyer by TfL. The Buyer must pay the Hammer Price (plus VAT where relevant), and the Buyer Premium (plus VAT where applicable). If the Buyer fails to do so by 5 pm on the next working day, or such other time as is specified in the Catalogue, TfL shall have an absolute discretion to cancel the contract of sale.

4.3.          For online bids: I-Bidder will send the Buyer instructions as to how to pay

4.4.          All required payments will be settled in full and before removal of the Lot is permitted and will be in sterling (GBP) by way of bank transfer (CHAPS preferred). All queries in relation to methods of payment must be made to yearofthebus@tfl.gov.uk.

4.5.          The Purchase Price shall be payable in full  by the Buyer within 7 days of the date of the auction; there is no entitlement to set-off any amounts.

4.6.          Unless we have agreed in writing otherwise, you shall act on your own account as principal in respect of the sale and therefore if you accept a commission from a third party to bid on their behalf, you do so at your own risk and will remain personally liable (jointly with your principal) to us for the Purchase Price in accordance with these Conditions.

4.7.          Anti Money Laundering regulations mean that anti money laundering checks may need to be carried out; this will require proof of identity and address for the Buyer.

4.8.          If you fail to comply with your obligations under these Conditions, the Lot in respect of such non-compliance may at our discretion be put up for sale at auction and resold. In this case, you will be liable in full and will indemnify us for all losses, costs and expenses (including legal costs) incurred as a result including the costs of the resale and the amount (if any) by which the Hammer Price obtained on the resale is less than the Hammer Price obtained on the original sale of the Lot to the Buyer.

5.             Risk, title and delivery

5.1.          Title in the Lot will be transferred free from all restrictions or rights or claims by anyone else upon the full Purchase Price being, save for any Intellectual Property Rights outlined in Condition 7.

5.2.          The risk of damage/loss to the Lot will pass to the Buyer upon full payment.

5.3.          Unless agreed by TfL, the Buyer should collect the Lot within 7 days of the date of the auction. We reserve the right to charge for storage and to resell by auction or privately without notice to you, if a Lot is not collected.

5.4.          Buyers must organise their own collection, TfL can facilitate collection but will not be responsible for logistics.

5.5.          You must satisfy yourself that the correct Lot has been collected by you or your agent at the time of collection. We will not be responsible for any discrepancy which might be discovered after the Lots have been collected.

5.6.          It is the Buyer's responsibility to obtain any necessary import, export or other licences required in relation to a Lot.

6.             Intellectual property

6.1.          The Buyer acknowledges and agrees that no Intellectual Property Rights in the Lot will pass to the Buyer as a result of the Buyer’s purchase of the Lot. All Intellectual Property Rights in the Lot will remain with the owner.

6.2.          The Buyer acknowledges and agrees that no licences in respect of any Intellectual Property Rights will be granted as a result of the purchase of the Lot.

7.             Exclusion of Liability

7.1.          No warranty is given to a Buyer concerning a Lot and each Lot is sold as shown with all faults, imperfections, errors of description (including authorship, origin, age, size, condition or value) or lack of authenticity or genuineness and neither us nor the Seller nor any of our agents or sub-contractors will be liable for any damages, costs, expenses or any other liability arising out of the same whether or not caused by negligence.

7.2.          TfL will not be liable, whether in tort (including negligence or breach of statutory duty), contract, misrepresentation or otherwise:

7.2.1.       for loss of profits or business, depletion of goodwill and/or similar losses; loss of contracts; or

7.2.2.       any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

7.3.          TfL shall not be liable to you or be deemed to be in breach of these Conditions by reason of any delay in performing, or any failure to perform, any of our obligations in the Conditions, if the delay or failure was due to any cause beyond our reasonable control.

7.4.          Nothing in these Conditions excludes or limits our liability for any matter which it would be illegal for us to exclude or attempt to exclude under English law or for our fraud or fraudulent misrepresentation.

8.             Restrictions on use

8.1.          The Buyer shall not, and shall not procure, that any New Party shall not, do, or omit to do, or permit to be done at any time any act:

8.1.1.       that associates the Lot with any political, quasi political or charitable objectives; or

8.1.2.       (in connection with the Lot) that negatively impacts on the reputation of Transport for London or the Charitable Purposes selected.

8.2.          The Buyer shall indemnify TfL and Charitable Purposes against any liabilities, costs, expenses, damages and losses (including any direct, indirect or consequential losses, loss of profit and loss of reputation and all interest, penalties and legal and other professional costs and expenses) suffered or incurred arising out of or in connection with the use of the Lot by the Buyer, a New Party or any third party, or any breach by the Buyer of this Condition 8.

9.             Data protection

9.1.          You acknowledge and agree that we will use your personal information for the purpose of the auction and ancillary matters including providing a Buyer's personal details to a Seller and any other person where necessary to enforce our rights under these Conditions.

10.           General

10.1.        These Conditions constitute the entire agreement. All other terms, warranties and representations, express or implied by statute or otherwise are excluded to the fullest extent permitted by law. No variation to these Conditions shall be legally binding unless agreed in writing by us.

10.2.        All rights and benefits granted to a Bidder under these Conditions are personal to him and may not be assigned or in any other way transferred to any other person. Any such assignment or transfer will be invalid and unenforceable against us.

10.3.        No failure or delay by us in exercising any of our rights under these Conditions shall be deemed to be a waiver of that right, and no waiver by us of any breach of these Conditions by you shall be considered as a waiver of any subsequent breach of the same or any other provision.

10.4.        We may perform our obligations and exercise our respective rights through any of our group companies or assign our rights under these Conditions.

10.5.        If any provision of these Conditions is held by any court or other competent authority to be invalid or unenforceable in whole or in part, the validity of the other provisions and the remainder of the provision in question shall not be affected.

10.6.        English law shall apply to these Conditions and we both agree to the English courts having exclusive jurisdiction.

11.           Definitions and interpretation

11.1.        Headings in these Conditions are for convenience only and shall not affect their interpretation.

11.2.        The following definitions are used in these Conditions:

“Bidder” and “you” means a person making, attempting to make or considering making a bid for a Lot including a Buyer;

“Buyer” means the person who makes the highest bid for a Lot which is accepted by the auctioneer and if the person is acting as an agent, will be a reference to its principal only if we have accepted the agency in writing;

"Buy it Now" a mechanism to instantly purchase the Lot at a set price.

“Buyer’s Premium”means an additional premium of 3% of the Hammer Price. As this is a charity auction, the Buyer Premium will go towards covering the costs of the auction. In the event that the total Buyer’s Premium” is greater than the auction costs, any excess will be donated to Charitable Purposes

“Catalogue” means a catalogue; price list or other publication or price list;

“Charitable Purposes”means any charitable cause approved by the Transport for London  Year of the Bus Steering Group.

“Conditions”means these conditions of sale and any other additional terms notified to Bidders in writing in a Catalogue or otherwise (which includes notices displayed at the Auction) or as agreed in writing between TfL and the Bidder;

“Hammer Price” means the amount of the highest bid for a Lot accepted by the auctioneer;

“include” or “including” mean including without limitation and include without limitation, respectively;

“Intellectual Property Rights”are any patents, rights to inventions, copyright and neighbouring and related rights, moral rights, trade marks and service marks, business names and domain names, rights in get up, goodwill and the right to sue for passing off, rights in designs, rights to use, and protect the confidentiality of, confidential information (including know-how) and all other intellectual property rights including those which are unregistered;

“Lot” means any item deposited with us for sale at auction including items described against any Lot number in a Catalogue;

“New Party”any party to which the Buyer may pass the title of the Lot;

“Purchase Price”means the Hammer Price plus a Buyer's Premium of 3% of the Hammer Price, VAT where applicable and any ancillary expenses such as postage and insurance costs for delivery;

“Reserve” means a confidential price below which TfL will not sell a Lot. Should this be exceeded prior to the auction end date I-Bidder will contact the last three unique Bidders requesting a best and final offer for sale.

“Seller” means the owner of the Lot.

“TfL”, “we“ or “us“means Transport for London acting on behalf of the Seller;