TERMS AND CONDITIONS AND RULES OF ONLINE AUCTIONS
These terms and conditions and Rules apply to all bidders and purchasers on this auction
1. In terms of the contract the following definitions are applicable:
1.1.1 “the Auctioneer” means Fundraising Auctions
1.1.2 “Bidders” means any participant bidding on an auction;
1.1.3 “Purchaser” means the bidder of the highest accepted bid which will be
deemed to be the purchaser, except lots sold subject to confirmation in which
case they will only be deemed as the purchaser upon acceptance of the bid by the Seller,
1.1.4 “Owner” means a person, natural or juristic, who is the lawful owner of the
assets, and who is entitled in law to sell the assets;
1.1.5 “no reserve” means that there is no established minimum price for the item being auctioned. This means that no matter what the winning bid, the owner must sell it for that amount.
1.1.6 “Reserve” means a hidden minimum price that has to be attained for the bid to be accepted
1.1.7 “Subject to confirmation” means that the owner has to accept or reject the bid after finalisation of the auction, irrelevant of the reserve price being met and/or exceeded;
2. CONSUMER PROTECTION ACT
2.1 The rules of this auction comply with section 45 of the Consumer Protection Act, 68 of 2008, and its regulations (the ‘Act’).
3. NO DUTY TO REPAIR AUCTIONEER
3.1 Any lot sold at this auction is sold ‘voetstoots’ or ‘as is’.
3.2 The Auctioneer is not liable in any way for any errors on inaccuracies in the description or identification of any lot. In making a bid, a bidder shall be deemed to have acquainted himself fully with the goods in the lot on which he bids.
3.3 The Auctioneer gives no warranties as to the correctness of information on a lot.
4. DISPUTE BETWEEN BIDDERS/PURCHASER AND OWNER
In the event of any dispute arising between a Bidder and/or and the Owner of a lot, the Parties agree that the matter must be resolved between the Bidder and/or Purchaser and the Owner directly.
5. SALE BY AUCTION
5.1 The bidder of the highest accepted bid will be deemed to be the purchaser.
5.2 If the bidder is successful, an email notification will be sent to him/her confirming that he/she has won the lot.
6. PAYMENT PROCEDURE
6.1 All Purchasers must effect full payment of the purchase price within 48 HOURS of receiving the email notification.
6.2 In the event that the Purchaser do not comply with Paragraph 6.1:
6.2.1 The Purchaser will be held liable.
7. OWNERSHIP
Ownership in the items shall pass to the purchaser only on payment of the full purchase price has been made.
8. INTERNET
8.1 The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder’s or Auctioneer’s internet connection interruption for any reason.