TERMS AND CONDITIONS.

BEFORE SELLING, BIDDING OR BUYING ANY ITEM OFFERED FOR SALE IT IS IMPORTANT THAT THESE TERMS AND CONDITIONS BE READ.

· All parties agree to accept these terms and conditions as binding on them and all items are sold subject thereto unless otherwise expressly agreed in writing by KM Auctions.

· Entry Fees. €25 per item over €100 in value. €25 per two items under €100 in value.

· All sales, commission payments and entry fees are subject to VAT currently 21%

· Buyers from overseas will required to pay a deposit of 21% this is refundable within 3 months if the auctioneers receive a bill of loading or certificate of shipping from the shipping or transport company showing the date, place, and vessel involved as proof of shipment for customs& excise.

· Buyers from other EU countries will be able to purchase at zero VAT rate only if they able to provide proof of VAT registration details in the relevant country. Those conditions will be strictly adhered to.

· The Vendor must complete, sign and deliver to the Auctioneers premises an official entry form for each item to be offered for sale, together with the appropriate entry fee. This fee is payable on or before delivery of any item. The vendor is responsible for ensuring the auctioneer has the correct instructions with regard to reserve price (VAT registered vendors are responsible for ensuring the reserve price of any item entered in said vendors name includes VAT @21%).

· The Auctioneer will not accept any responsibility whatsoever regarding reserve price or any other instructions that may apply to the sale unless the vendor has completed and signed the entry form.

· The Vendor agrees to pay commission of 5% plus VAT of the selling price of any item sold on behalf of the Vendor.

· Where a Vendor books an item and withdraws same within 24 hours of the sale the Vendor will be charged a withdrawal fee of €100.

· The item entered is at the Vendors risk, until in the event of a sale and following payment in full, the title will pass to the Buyer

· The Vendor agrees to supply all necessary documents such as vehicle licensing certificate, NCT cert or any other documentation that may be required to complete the transfer of title of the item sold to the Buyer.

· The Vendor agrees that the Buyer shall pay on the day of the sale to the auctioneer the full purchase price or 25% provided same is not less than €1000 of the full purchase price, the balance to be paid within 48 hours of the sale.

· The auctioneer will pay the Vendor within 30 days of receipt of full payment for the item or items sold on the Vendors behalf having deducted commission.

· The auctioneer shall not be liable to pay the Vendor until payment in full is received from the Buyer. If the Buyer fails to make such payment for whatever reason the Auctioneer reserves the right to rescind the contract on behalf of the Vendor but without any prejudice to any claim that the Vendor may have against the Buyer for damages otherwise.

· The Vendor warrants to the Auctioneer that good title to the item sold will pass to the Buyer.

· Buyers must register with KM auctions before the sale to obtain a buyers registration number. Bids cannot be accepted unless the bidder is registered with KM Auctions.

· All lots must be inspected by the buyer, who bids on the understanding that he/she has inspected the lot for which he/she is bidding and agrees to take it with all faults and imperfections.

· The Auctioneers may accept written instructions to bid on behalf of prospective buyers. However any such instructions accepted shall be at the risk of prospective buyers, who will be deemed to have viewed the lots. The Auctioneers will accept no responsibility whatsoever regarding any failure of telecommunications, or any other reason in connection with instructions to bid on behalf of any buyer.

· No bid may be retracted. Bidding increments will be regulated by the Auctioneer on the day of the sale.
· On the fall of the hammer or any other similar act, which concludes the bidding, the buyer shall have entered into an unconditional contract to purchase the item.

· The buyer shall be the person who makes the highest bid acceptable to the Auctioneer.

· In the event of any dispute or refusal to pay on the part of the buyer, the auctioneers may annul or cancel the sale of such lots. If the lot no in question is subsequently sold for a lower price than that originally bid, then the bidder who has defaulted with regard to payment will be liable for the balance.

· In the event of a dispute between two or more bidders, any such dispute shall be settled at the absolute discretion of the auctioneer.

· The Auctioneer may without giving any reason, refuse to accept the bidding of any person.

· Payment to be made by cash, cheque or bank draft, all cheques or bank drafts must be cleared through AIB Bank Main Street Tallow Co Waterford. Payment by cheque is not made until clearance of the cheque.

· Buyer will pay KM auctions commission of 5% of the purchase plus VAT at 21% on all items purchased.

· Thereafter, having made payment in full the item sold is at the Buyers risk, at all other times the item is at the Vendors risk. In the case of any dispute any remedy of the buyer shall be against the Vendor and under no circumstances shall any remedy lie against KM auctions. For avoidance of doubt if the Buyer has any right to a remedy against KM Auctions he, she, hereby waives it.

· No item may be removed from the sale ground unless and until full payment is received and a receipt issued by KM auctions.

· Items purchased must be removed from the sale ground within 3 days of the sale. Items not removed will be subject to parking fee. Items not removed within 14 days of sale may be offered sale by KM auctions by agreement with the Vendor or be removed by the Vendor, the required parking fee having been paid.

· The loading/unloading facility is provided entirely at the risk of the Vendor/Purchaser. The Vendor/Purchaser will be responsible for the supervision of loading/unloading, KM Auctions accepting no liability.

· KM Auctions does not accept any responsibility for the loss of, or from or damage to any vehicle or other property on its premises whether or not the same is entered for sale in its auction.

· Persons who enter the auctioneers premises before, during and after the sale shall be deemed to be there entirely at his/her own risk, such persons will have no claim against the Auctioneer or property owner in respect of any injury sustained or any accident that may occur from any cause whatsoever.

· The Vendor is solely responsible for any warranty that may be given on any item for sale; the auctioneer acts as an agent in the sale of the item only and is not responsible for any default by either the Buyer or the Vendor.

· KM Auctioneers reserves the right to add additional conditions of sale to any sale it conducts. It also reserves the right to modify or withdraw any of the above conditions.

· Any such changes will be announced at the commencement of the sale or any time during the sale.