PROPERTY: RULES OF AUCTION

This auction is a Timed Online Auction and will be held from Tuesday 4 August 2020 at 12:00 until Thursday 6 August 2020 at 12:00 on the www.vansauctions.co.za online platform. The auction will open at 12h00 on 4 August 2020 and close at 12h00 on 6 August 2020. If a bid is made on a lot within five minutes of close, such lot will extend for 5 minutes until 12h05, and thereafter continuously for 5 minutes if a bid is placed within the 5 minutes before closure.

The Auctioneer is Martin Pretorius from Van’s Auctioneers at 36 Gemsbok Street, Koedoespoort Industrial, Pretoria and telephone number 086 111 8267.

The sale shall be subject to the control of the auctioneer who shall have the sole right to regulate the advance in bidding. We are selling per rising bid in South African Rand.

VAN’S AUCTIONEERS will be selling on instructions from the owner

to sell by public auction the property known as:

PORTION 258 (A PORTION OF PORTION 95) OF FARM ZANDFONTEIN 447, REGISTRATION DIVISION JQ, PROVINCE NORTH-WEST SITUATED

Measuring: 5,9959 HA

And held by Deed of Transfer number: T124208/1997 in favour of: 123 TRUST, REGISTRATION NUMBER: 2957/93 

AS WELL AS AN OPTION TO BUY CERTAIN MOVABLE GOODS OF BRITS POLES SA (PTY) LTD (IN LIQUIDATION), REGISTRATION NUMBER: 1997/022238/07 UNDER MASTER’S REFERENCE: T944/20 AND THE ABOVE PROPERTY AS ONE LOT.  

Subject to the following auction rules:

1. The property will be sold to the highest bidder (herein referred to as the PURCHASER) but subject to confirmation by the SELLER, which confirmation can be withheld by the SELLER without furnishing reasons therefore. The PURCHASER is unconditionally and irrevocably bound to his bid for 14 calendar days excluding date of signing of the conditions of sale, and the onus will rest upon the PURCHASER to establish whether his bid was confirmed, or not.
2. Higher offers may be made prior to confirmation or registration of transfer (whichever occurs first.) Such higher offers must be made to the AUCTIONEER on the same Terms and Conditions as the auction offer and the highest bidder at the auction shall have the right to equal such offers which offer will be preferent to any other offers. The PURCHASER from the auction must exercise this right within 24 hours (excluding public holidays and weekends) after being so notified by the AUCTIONEER, by submitting an equivalent offer and supplementing his deposit accordingly.    
3. In the event of a dispute arising in regards to a bid made, the AUCTIONEER will have the discretion to put the property up for auction again and his decision will be final.
4. The PURCHASER shall be liable for payment of all duties, levies and taxes, calculated as from the date of possession and/or occupation, but shall not be held liable for any arrears.
5. The property is sold Voetstoots, and neither the AUCTIONEER nor the SELLER gives no guarantee as to the extent, patent or latent defects, the nature, quality or legality of improvements, or the legality of any activities practiced thereon, and will not be held liable for any damages arising from same. By taking part in this online auction the bidder aknowledges that he/she/it has acquainted himself with the condition of the property.
6. Payment method:
7. A Registration Fee of R50 000 (FIFTY THOUSAND RAND) is payable. This will be refunded to all non-successful bidders, and accounted for against the deposit as required below from the highest bidder.
8. 10% of the full purchase price as a deposit, by way of bank guaranteed cheque or electronic transfer simultaneously with signature of the Conditions of Sale by the PURCHASER or as requested by the AUCTIONEER, which deposit, after confirmation and deduction of expenses and fees (if applicable), will be paid over to the conveyancer’s Account.
9. The PURCHASER shall be liable for payment of interest calculated at 1% per month on the balance of the purchase price from date of possession and/or occupation (whichever occurs first) to date of registration of transfer which interest shall be deemed as occupational rent.
10. The balance of the purchase price shall be paid or secured by means of a guarantee acceptable to the SELLER, within 45 days from date of confirmation, payable upon registration of transfer.
11. The PURCHASER will be liable for auctioneers’ commission of 10% of the purchase price (exclusive of VAT), which is not included in the purchase price, payable simultaneously with the deposit and shall be in addition to the said deposit.
12. The PURCHASER shall upon demand be liable for payment of VAT which is not included in the purchase price, or Transfer Duties, whichever is applicable.
13. Possession and/or occupation will be given and taken subject to any existing lease agreements, leasing, tenancy or legal or illegal occupation, on date of  registration of transfer of the property in the Deeds Office, or as agreed upon in writing between the parties, from which date the sole risk, profit or loss of the property shall rest upon the PURCHASER. The SELLER and the AUCTIONEER do not guarantee vacant occupation.
14. The terms and conditions of this agreement shall constitute the sole agreement between the parties concerned and no variation or amendment thereto shall be binding unless agreed upon in writing and signed by the SELLER and PURCHASER.
15. In compliance with the National Consumer Protection Act and the Regulations thereto, Vendor Bidding is permitted at the auction, and the SELLER, AUCTIONEER or a Vendor Bidder representing the SELLER or the AUCTIONEER may bid up to an amount and not exceeding the Reserve Price.
16. These Rules of Auction comply with the provisions of Section 45 of the Consumer protection Act, 68 of 2008. Sub sections (1), (2) and (3) of this Section provides as follows:

“(1) In this section, ‘‘auction’’ includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction

(2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.

(3) A sale by auction is complete when the AUCTIONEER announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement

is made, a bid may be retracted.”

LOOSE ASSETS: IMPORTANT INFORMATION

FICA Documentation

·        If purchasing in your personal capacity, a copy of ID and recent (not older than 3 months) proof of residence is required.

·        If purchasing in a company name a copy of company registration form CM1 or CK1, CM46, CM9, a utility bill & CM29 or Resolution from company authorising representative to bid is required.

·        If purchasing where the person is not a RSA citizen, a copy of passport and proof of residence if living in RSA is required.

·        Auction Currency: South African Rand.

·        Buyers Premium: 10% PLUS VAT

·        VAT: 15% VAT will be charged on both the hammer price (if applicable) and commission.

For more information and queries please contact: 086 111 8267 or email

mariska@vansauctions.co.za

ALL LOTS ARE SUBJECT TO CONFIRMATION OF 14 DAYS.

TERMS AND CONDITIONS AND RULES OF AUCTION

Whereas Van’s Afslaers Gauteng (Pty) Ltd, herein referred to as the Auctioneer, have been mandated to sell by the Joint Liquidators of Brits Poles SA (Pty) Ltd (In liquidation), Registration number: 1997/022238/07 under Master’s reference number: T944/20 herein referred to as the Seller, certain movable goods by an Online Timed Auction, such sale shall be subject to the following Terms, Conditions and Auction Rules:

1. The auction will open at 12h00 on 4 August 2020 and close at 12h00 on 6 August 2020. If a bid is made on a lot within five minutes of close, such lot will extend for 5 minutes until 12h05, and thereafter continuously for 5 minutes if a bid is placed within the 5 minutes before closure.
2. The Auctioneer is Martin Pretorius in his capacity as duly authorized of Van’s Afslaers Gauteng (Pty) Ltd, t/a Van’s Auctioneers of 36 Gemsbok Street, Koedoespoort Industrial, Pretoria.
3. The auction sale shall be subject to the control of the Auctioneer who shall have the sole and absolute right to regulate the advance in bidding and to indicate the highest bidder.
4. Any bona fide mistake that may occur during the auction shall not be binding on the Auctioneer or the Seller and the Auctioneer may rectify such mistake. In the event of a dispute arising in regards to a bid made or any other proceedings at the auction, the Auctioneer shall have the discretion to put a lot up for auction again and his decision will be final. The Auctioneer’s decision, as well as the vendue roll, will be regarded as final in all instances. A bid may not be retracted after the fall of the hammer.
5. Purchasers are buying per piece to take the Lot, unless otherwise specified.
6. Bidders are required to register in the manner specified by the Auctioneer. A Registration Fee of R50 000 (FIFTY THOUSAND RAND) is payable by EFT and the Auctioneer shall have the sole discretion to accept or decline any form of payment. Any and all bank costs will be payable by the Bidder. The Registration fee will be allocated as partial payment of the total amount due by the Bidder after the auction. The Auctioneer shall retain the Registration Fee in its Trust Account until final accounting of the amounts due by the Bidder. In the event that any registered bidder fails to achieve the highest bid on any Lot, the Auctioneer shall refund the full registration fee to such bidder after the auction.
7. The purchase price excludes VAT (Value Added Tax) and VAT must therefore be paid by the Purchaser over and above the purchase price, if applicable. The purchase price also excludes Auctioneer’s commission and such commission must therefore also be paid by the Purchaser over and above the purchase price. The Purchaser shall be liable, immediately after the fall of the hammer, to pay the full purchase price, plus VAT thereon calculated at 15% (Fifteen Percent), plus Auctioneer’s commission calculated at 10% (Ten Percent) on the purchase price (plus VAT on the Auctioneer’s commission), by bank guaranteed cheque or by Electronic Funds Transfer (EFT) directly into a bank account nominated by the Auctioneer. The Auctioneer or the Seller shall have the sole discretion to accept or reject any form of payment, and all bank costs will be payable by the Bidders.
8. The Purchase price also excludes a vehicle documentation fee of R1 750 (where applicable.)
9. The Seller shall retain ownership and possession and control over the Lots until the Purchaser complies with all the Terms and Conditions in order to obtain collection. All Lots sold by auction shall be available for collection within 7 days from the fall of the hammer, unless otherwise specified. Ownership in and to the assets shall remain with the Seller until payment has been made in full by the Purchaser. All risk in and to the assets shall pass to the Purchaser on collection.
10. Entries made on the auction vendu roll shall be evidence of the transaction and shall be binding on the Seller and the Purchaser.
11. Descriptions and information given by the Auctioneer or the Seller in advertisements, catalogues or given verbally is given in good faith. Neither the Auctioneer nor the Seller shall be liable for any errors in description whatsoever. It is the responsibility of Bidders to acquaint themselves of the items they bid on. The sale is Voetstoots and neither the Seller nor the Auctioneer gives any guarantee whatsoever as to the condition, state, qualities, size, weight or any other feature or attribute of the assets and shall not be liable for any damages or claims of whatsoever nature arising therefrom.
12. By submitting a bid the Purchaser acknowledges that he/she has inspected the goods and has acquainted himself/herself with the condition of the goods and is bound by the provisions above. Goods that are indicated as at another premises will be the responsibility of the Purchaser to collect at the Purchaser’s expense.
13. Notice is hereby given to all Purchasers, in compliance with Section 45 of the National Consumer Protection Act 68 of 2008, that the auction is subject to a right to bid by or on behalf of the Seller. The Seller or the Auctioneer on behalf of the Seller or another person on behalf of the Seller is therefore permitted to bid at the auction. It is furthermore stipulated that each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction. The sale by auction of each Lot is complete when the Auctioneer announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement is made, a bid may be retracted.
14. The auction and all transactions concluded shall be governed by the laws of the Republic of South Africa. The parties agree and consent to the jurisdiction of the High Court of South Africa.
15. These Terms and Conditions and the determination of the Auctioneer and the Seller exercised in accordance herewith constitutes the entire agreement between the parties and no representations, variations, amendments, and / or indulgence shall be binding on any party, unless same is reduced to writing and signed by all parties.
16. All payments shall occur free from deduction, set-off or bank charges or any other associated costs and shall be made into a bank account nominated by the Seller or the Auctioneer.
17. If the Purchaser is an entity that requires the consent of another person(s) or that requires a decision to be taken in a prescribed manner, then the person signing these terms and conditions and / or the person participating in the auction warrants that such decision or permission has been obtained. In the event that it is proven that such decision or permission has not in fact been obtained, then the person who purported to act on behalf of the entity will personally be bound and liable to fulfil all obligations as Purchaser in accordance with these Terms and Conditions. 

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