SPECIAL TERMS AND CONDITIONS

FOR THE AUCTION SALE ON

SATURDAY 21 November 2020

AFRICOR AUCTIONEERS PTY LTD

On behalf of the following estates: Mkulu Civils (In Liquidation) Masters Ref: G374/2018, EJS Projekte (In Liquidation) Masters Ref: G18/2019, Liquidators, Estates, End of Contracts, Repossessed Assets, Private Vendors and others, we will sell:

AUCTIONEER: Taso Christoforou

DEPOSIT

R5 000.00 (Five Thousand Rand Only) refundable deposit by EFT, CREDIT CARD (Master / Visa Only). Cash payments are to be paid directly into Africor Auctioneers bank account. Buyers being financed must produce an irrevocable letter of credit prior to bidding.

No receipts will be issued unless the EFT or Internet payment reflects on the bank statement.

BANKING DETAILS:

Bank: Absa

A/c: 4078421179

Code: 632005

Reference: Buyers Number

FICA REQUIREMENTS

All buyers must provide the following FICA documentation upon Registration:-

Private / Personal Buyer: Original Identity Document or Passport

Original proof of address (an account not older than 3 months)

Business Buyer

VAT Registration Certificate

CK Document (Cipro Certificate)

Original ID of the owners of the business

Original proof of address (an account not older than 3 months)

PURCHASING ON BEHALF OF ANOTHER PERSON OR ENTITY

If purchasing on behalf of another person or entity when registering, the Buyer must produce a Letter of Authority from the person/s/entity on whose behalf the buyer is purchasing, authorizing the buyer to purchase on his/her/their behalf.

VAT

VAT of 15% will be charged on all of the items. However all bids exclude VAT, which will be added to the buyers invoice. The buyer pays the VAT.

COMMISSION

Commission of 8% will be charged on all of the items for buyers as well as sellers.

PAYMENT

All purchases are to be paid in full by 15h00 on the day of the sale, strictly by credit card, EFT or cash transfer only. (NO CASH WILL BE ACCEPTED ON SITE)

A 2% (TWO PERCENT) HANDLING FEE WILL BE CHARGED ON ALL CASH PAYMENTS WHICH MUST BE MADE DIRECTLY INTO AFRICOR AUCTIONEERS BANK ACCOUNT

BUYERS BEING FINANCED MUST PRODUCE AN IRREVOCABLE LETTER OF CREDIT FROM THE FINANCIAL INSTITUTION PRIOR TO BIDDING.

REFUNDABLE DEPOSIT

Deposits will only be refunded once all the purchases have been removed from the yard during the week following the auction.

STANDARD CONDITIONS OF SALE

Please refer to our standard conditions of sale on your buyer's card and hereunder.

DESPATCHING

Due to security constraints, there will be no dispatching of goods during the auction. NO EXCEPTIONS WILL BE MADE.

All purchases are to be removed at the buyer's risk not later than 15h00 on Tuesday 24 November 2020. Purchasers will be responsible for the loading of their own purchases. The Auctioneer will not supply any labour or facilities to load.

DISPATCHING TIMES

No vehicles will be allowed to leave the auction yard without the necessary documentation being collected and signed for, specifically vehicle registration documents and abandoned vehicle payment advisory.

There will be no dispatching of any items purchased on the day of the auction unless otherwise communicated on the day of the auction.

Should the Purchaser fail to remove any item by the 24 November 2020, then a storage fee of R100.00 + VAT per item per day will be charged to the Purchaser. Furthermore, should any items purchased not be removed within the period stipulated by the Auctioneer, those items will be resold by the Auctioneer at the expense of the Purchaser.

Alternatively and by written arrangement between the Auctioneer and the Purchaser, the Auctioneer will store the items at the expense of the Purchaser

GENERAL

Obtaining roadworthy certificates for vehicles purchased is the responsibility of the purchaser.

In the event of any vehicles being deregistered, this will be indicated on the catalogue and on the vehicles concerned. Purchasers must note that from the date of the auction purchasers have 21 days to register the vehicles into their name. Failure to do so, is entirely at the purchaser's risk.

The purchaser shall be bound by all announcements made by the auctioneer at the commencement of and during the sale, whether or not he is present at the time of making such announcements.

All items are sold Voetstoots. No warranties or guarantees are given or implied. Africor Auctioneers cannot be held responsible for any errors of description, in the event of an error being made by the auctioneer; such an error shall not be binding on the seller or the auctioneer. There will be no splitting of lots.

Only buyers who have registered are allowed to bid, no sharing of cards are allowed on the auction.

In terms of section 45 of the consumer protection act 68 of 2008, there is no duty to repair and the odometer readings are not guaranteed.

Check year models before purchasing on the day of the auction. These are subject to change without notice.

The auction will commence at the advertised and/or published time.

The buyers are deemed to have made themselves acquainted with the lots for which they bid.

On the day of the auction, buyers may not sit in or on the vehicles. Those doing so, do so entirely at their own risk.

Rules of the auction are available and without charge, during normal working hours.

Right of admission is strictly reserved.

Subject to change without prior notification