| TERMS AND CONDITIONS OF PUBLIC AUTOMOTIVE
AUCTION |
THE BUYER AND SELLER AGREE THAT OSMAN AUCTION
INC. IS ACTING STRICTLY AS THE CONTRACTED AGENT BETWEEN THE BUYER
AND SELLER. THE AUCTIONEER RESERVES THE RIGHT TO ACCEPT OR REJECT
ANY BID AND IN THE CASES OF DISPUTE THE AUCTIONEER’S DECISION SHALL
BE FINAL. ALL GOODS ARE SOLD ON AN “AS IS WHERE IS BASIS”. NO
WARRANTY EXISTS IMPLIED OR OTHERWISE IN RELATION TO ANY ITEM(S)
AND/OR GOOD(S) OFFERED FOR SALE UNLESS OTHERWISE ANNOUNCED BY THE
AUCTIONEER AT THE AUCTION SALE. DESCRIPTIONS PROVIDED ARE A GUIDE
ONLY AND “DO NOT CONSTITUTE A WARRANTY OR GUARANTEE ACTUAL OR
IMPLIED”. THE AUCTION COMPANY IS NOT LIABLE FOR ANY MECHANICAL
DEFECTS FOUND ON ANY VEHICLE OR VEHICLES PURCHASED. PLEASE INSPECT
ALL ITEM(S) AND/OR GOOD(S) BEFORE BIDDING. “THE AUCTION COMPANY DOES
NOT GUARANTEE THE YEAR OR ODOMETER READING OF ANY ITEM(S) AND/OR
GOOD(S) OFFERED FOR SALE”. THE FEDERAL GOVERNMENT’S GOODS AND
SERVICES TAX OF 7% WILL BE CHARGED ON ALL ITEM(S) AND/OR GOOD(S)
SOLD AND WILL BE REMITTED TO THE FEDERAL GOVERNMENT UNDER CURRENT
FEDERAL REGULATION GOVERNING THE GOODS AND SERVICES TAX. A MINIMUM
DEPOSIT OF THREE HUNDRED ($300.00) DOLLARS OR 10% WHICH EVER IS
GREATER IS REQUIRED ON SALE DAY ON ANY OR ALL ITEM(S) AND/OR GOOD(S)
PURCHASED. DEPOSITS ARE PAYABLE BY DIRECT DEBIT, CASH, VISA,
MASTERCARD. VISA AND MASTERCARD ACCEPTED TO A MAXIMUM OF THREE
HUNDRED ($300.00) DOLLARS FOR DEPOSIT PURPOSES ONLY. FOR PURCHASERS
PROTECTION, A BUYER’S FEE IS CHARGED ON EVERY VEHICLE SOLD
GUARANTEEING THAT THE VEHICLE IS FREE AND CLEAR OF ALL LIENS AND/OR
ENCUMBRANCES. BALANCE OF PURCHASE MUST BE PAID BY CASH, BANK DRAFT,
CERTIFIED FUNDS OR ELECTRONIC WIRE TRANSFER TO THE AUCTION COMPANY
TRUST ACCOUNT. PERSONAL AND COMPANY CHEQUES ARE ACCEPTED ON
ESTABLISHED ACCOUNTS ONLY. A CHEQUE WILL BE ACCEPTED IF THE
PURCHASER PROVIDES AN “IRREVOCABLE LETTER OF CREDIT” FROM THEIR BANK
WITH CORRESPONDING ACCOUNT NUMBERS FROM WHICH THE CHEQUE IS TO BE
DRAWN ON. IF THE PURCHASER’S CHEQUE IS ACCEPTED BY THE AUCTIONEER
UPON PLEADINGS, THEN THE PURCHASER CERTIFIES THAT THERE IS NOW A
DEPOSIT TO THEIR CREDIT AT THE BANK ON WHICH THE CHEQUE IS DRAWN
SUFFICIENT FUNDS TO MEET PAYMENT AND THAT SAID FUNDS WILL REMAIN
AVAILABLE FOR PAYMENT OF THE SAID CHEQUE UPON PRESENTATION TO THEIR
FINANCIAL INSTITUTION. SETTLEMENT IN FULL MUST BE MADE FOR ALL
ITEM(S) AND/OR GOOD(S) PURCHASED BY THE CONCLUSION OF THE NEXT
BANKING DAY AND/OR BUSINESS DAY FROM THE DATE OF THE AUCTION SALE
BEFORE “ANY” ITEM(S) AND/OR GOOD(S) ARE TO BE REMOVED FROM THE
AUCTION PREMISE BY THE PURCHASER. OWNERSHIP AND/OR TITLE TO ITEM(S)
AND/OR GOOD(S) REMAIN WITH OSMAN AUCTION INC. AS AGENT AND “DO NOT”
TRANSFER TO THE PURCHASER UNTIL ANY OR ALL ITEM(S) AND/OR GOOD(S)
ARE PAID IN FULL BY THE PURCHASER. ONCE ANY ITEM(S) AND/OR GOOD(S)
ARE PURCHASED THEY BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER.
THE CONSIGNMENTS ACCEPTED BY THE AUCTIONEER AND OFFERED BY PUBLIC
AUCTION TO PROSPECTIVE PURCHASERS ON ANY REGULARLY SCHEDULED VEHICLE
AUCTION SALE MAY BE SUBJECT TO A RESERVE PRICE PLACED BY THE
CONSIGNOR (SELLER). THESE ITEM(S) AND/OR GOOD(S) MAY BE SUBJECT TO A
CONDITIONAL SALE. UPON THE ACCEPTANCE OF A BID BY THE CONSIGNOR
(SELLER), THE PURCHASER AGREES THAT THE SALE IS FINAL AND WILL BE
SUBJECT TO ALL TERMS AND CONDITIONS SET OUT IN THIS AGREEMENT.
VEHICLES OFFERED ON AN UNRESERVED BASIS ARE SOLD TO THE HIGHEST
BIDDER. IF ITEM(S) AND/OR GOOD(S) ARE OFFERED ON AN UNRESERVED BASIS
AND PURCHASERS DO NOT OFFER ANY BIDS ON ITEM(S) AND/OR GOOD(S) THE
AUCTIONEER SHALL WITHHOLD THE ITEM(S) AND/OR GOOD(S) UNTIL THE NEXT
AUCTION SALE. THE LIABILITY OF THE AUCTION COMPANY IS LIMITED TO THE
SALE PRICE OF THE ITEM(S) AND/OR GOOD(S). THIS LIABILITY SHALL BE
REDUCED ON ACCOUNT OF DEPRECIATION BY 5% OF THE GROSS SALE PRICE ON
THE FIRST (1ST) OF EACH MONTH FOLLOWING THE SALE DATE AND EXPIRES
TWELVE (12) MONTHS FROM PURCHASE DATE. IF THE PURCHASER FAILS TO
COMPLETE THEIR PURCHASE AND/OR PURCHASES THEIR DEPOSIT WILL BE
FORFEITED TO THE AUCTIONEER AND THE PURCHASER WILL BE LIABLE TO THE
AUCTIONEER AND SELLER TO SUE FOR AND COLLECT 30% (THIRTY PERCENT) OF
THE SELLING PRICE OF THE PURCHASE OR PURCHASES. ITEM(S) AND/OR
GOOD(S) PURCHASED AND PAID FOR, BUT NOT REMOVED FROM THE
AUCTIONEER’S PREMISES WITHIN FIVE (5) BUSINESS DAYS FROM THE DATE OF
PURCHASE MAY, AT THE AUCTION COMPANY’S DISCRETION BE SUBJECT TO A
STORAGE FEE OF TEN ($10.00) DOLLARS A DAY, ANY ITEM(S) AND/OR
GOOD(S) STORED AFTER THIRTY (30) DAYS, MAY AT THE OPTION OF THE
AUCTIONEER, AND AFTER NOTICE BY REGISTERED MAIL TO THE PURCHASER, BE
RESOLD AND STORAGE CHARGES DEDUCTED FROM SALE PROCEEDS. ANY SHORT
FALL SHALL BE THE LIABILITY OF THE ORIGINAL PURCHASER. BY SIGNING
YOUR BID CARD YOU HAVE ACCEPTED, AND WILL HOLD YOURSELF RESPONSIBLE
FOR ALL THE TERMS AND CONDITIONS CONTAINED IN YOUR AUCTION PURCHASE
AGREEMENT. THE AUCTION PREMISES IS A DANGEROUS ENVIRONMENT. THERE IS
EXHAUST AND NOXIOUS FUMES PRESENT. THERE ARE VEHICLES AND EQUIPMENT
IN CONSTANT MOTION IN OUR AUCTION YARD. PLEASE BE CONSCIOUS OF THIS
AND YIELD TO AUCTION STAFF OPERATORS WHILE IN ATTENDANCE ON THE
AUCTION PREMISE. OSMAN AUCTION INC IS NOT LIABLE FOR INJURY WHILE
PUBLIC IS ON THE AUCTION PREMISE. ALL AUCTION ADVERTISEMENTS ARE
SUBJECT TO ADDITIONS, DELETIONS, ERRORS AND OMISSIONS. ALBERTA
AUCTION LIC #169328
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