Terms & Conditions

CASEY AUCTION GROUP (hereinafter ... 'CAG')

TERMS AND CONDITIONS OF AUCTION SALE

1. Subject to any reserve price and the Vendor's right to bid, the highest bidder shall be the Purchaser and in the event of any dispute arising, the lot may be offered, the Auctioneer shall be the sole arbitrator and his decision shall be final.

2. Advances in the bidding shall be regulated by the Auctioneer and unless otherwise advised, will be at least twenty-five percent in advance of the previous bid. No bidder may retract their bid once it has been taken.

3. The Auctioneer may refuse to accept any bid which, in h is opinion, is not in the best interests of the Vendor, and may exclude any person or persons whatsoever from the Auction at any time for any reason whatsoever, and particularly if he suspects they are engaging in collusive bidding practices.

4. The Vendor reserves the right to withdraw a lot from sale at any time before the Auctioneer accepts a bid for the lot at the Auction.

5. On the fall of the hammer, the Purchaser shall give their name and address and (if required) immediately pay twenty-five cents in the dollar in part payment of the purchase price, such payment to be applied to the lot so purchased or to the entire invoice of purchases by the Purchaser. The Purchaser shall complete CAG's 'Buyer Bid Card'. In default of these conditions, the lot or lots so purchased may, at the Auctioneer's absolute discretion, be immediately put up again and resold.

6. The Purchaser shall be deemed to be the principal unless, prior to the sale, they had given to the Auctioneer a copy of a written authority to bid for or on behalf of another person.

7. As soon as possible after the fall of the hammer, the Purchaser shall sign the sale sheet and in any event the Purchaser and the Vendor authorise the auctioneer and/or Auctioneer's clerk to sign on their behalf the sale sheet which with these conditions shall constitute the, whole contract between the Vendor and the Purchaser to the exclusion of everything else.

8. On the fall of the hammer, each lot shall be at the PURCHASER'S RISK AND EXPENSE and shall be paid for in cash or by bank cheque as soon as possible and prior to delivery, but in the event of delivery being made to or possession obtained by the Purchaser, his employees, agents or contractors prior to payment in full of the purchase price, TITLE AND PROPERTY in the lot shall not pass to the Purchaser.

9. No condition or warranty either express or implied is given by CAG with any lot offered, as all lots are open for inspection prior to the commencement of the sale and are sold with all faults, if any. No sale shall be invalidated and no compensation shall be paid in respect of any fault or effort of description of any lots sold. No lot shall be sold or deemed to be sold by order of sale description or by any other description.

10. Any statement as to the quantity of goods is approximate only and is as represented to CAG. CAG gives no warranty that quantities as stated are correct. In addition to any other rights the Purchaser may have, compensation for shortages in quantity shall be given if demanded in writing before deliver of the goods. In the event of any dispute as to compensation, the dispute shall be settled by an arbitrator who shall be a person mutually agreed upon by the parties.

11. No purchases may be removed until after the conclusion of the Auction. All purchases must be paid for and removed within two (2) days of the date of the sale or as specified at the time of sale.

12. If the Purchaser fails to comply with these conditions or any of them or if any cheque given on account of any purchase is dishonoured, any moneys which the Purchaser shall have paid to CAG on account of any purchases shall be absolutely forfeited to the Vendor and the Vendor or CAG shall be at liberty to sue the Purchaser for recover of the balance of the purchase moneys and the Buyer's Premium forthwith or, without prejudice to the Vendor or CAG's right to recover the balance of purchase moneys and the Buyer's Premium if it is not possible to resell the lot, to resell or attempt to resell the lot in any manner and upon such terms and conditions as they may think fit, and without being obliged to give any notice or resale to the Purchaser.

13. All lots and expenses incurred by the Vendor or CAG resulting from any resale pursuant to Clause 12 hereof or any attempted resale and all damages which the Vendor or CAG may sustain thereby shall be recoverable from the Purchaser as liquidated damages whether the goods are resold or not. Without limiting the generality of the foregoing, CAG shall be entitled to recover from the Purchaser:-

(a) The amount of any commission with CAG lost on a purchase as the result of the Purchaser not proceeding;

(b) The Buyer's Premium payable in accordance with Clause 15;

(c) All costs associated with any resale or attempted resale, including advertising, insurance, transport and storage; and

(d) Interest on the purchase moneys outstanding from time to time on and from the third day after the date of the sale at the corporate overdraft reference rate for the time being charged by the Bank of Melbourne.

14. No servant or agent of CAG is authorised to waive, add to or vary these Conditions without the written authority of CAG's Secretary or General Manager.

15. The Purchaser acknowledges and agrees that:-

(a) A Buyers Premium will be payable by the Purchaser to CAG, such premium to be in addition to and payable at the same time as the purchase price and which premium will form part of the total consideration for the purchase; and

lb) If Sales Tax is payable on the purchase it will be calculated on that total consideration and will be payable by the Purchaser in addition to, and at the same time as the purchase price and the Buyer's Premium.

(c) 20% deposit of purchase price must be paid at the fall of the hammer.

16. The Purchaser acknowledges that. CAG is acting as the authorised agent of the Vendor and any rights of - action he may have in respect of the lots purchased by him lie against the Vendor, not CAG. In the event that he wishes to take proceedings in respect of the said lots and the Vendor has not been named by CAG in its dealings with him to date, he agrees to request the name of the Vendor from CAG and, provided CAG provides the relevant details, to proceed against the Vendor, not CAG.

17. The Purchaser acknowledges that software may be installed on computer equipment and that the use of such software without a licence from the owner of the software may infringe the rights of the owner. The Purchaser acknowledges that the Vendor makes no warranties of any kind whatsoever with respect to any such software and that use of such software by the Purchaser may expose the Purchaser to legal action by the owner of the software. The Purchaser releases the Vendor from any claim, costs, liability, damages or cause of action the Purchaser may have against the Vendor in respect of any such legal action against the Purchaser.

18. The Purchaser acknowledges having inspected the computer equipment and that by agreeing to purchase the computer equipment, the Purchase has not relied on any statement, representation or warranty by or on behalf of the Vendor, other than as set out in these Terms and Conditions. The Purchaser accepts the computer equipment in its present state and condition and will mak6 no objection or claim for compensation, or any claim of right to rescind or terminate, in respect of such matters.

19. The Vendor expressly disclaims all warranties express or implied, including without limitation, or warranties as to fit, implied warranties of merchantability or fitness for a particular purpose, for the computer equipment, any software which may be installed on the computer equipment or any other property purchased hereunder.

CASEY AUCTION GROUP

As Agents for the Vendor.