ELECTRICAL & ENGINEERING WORKSHOP AUCTION – IMPORTANT INFORMATION
AUCTION OPENING FROM 12H00 PM ON 23 JANUARY & CLOSING FROM 12H00 PM ON 24 JANUARY 2024
VIEWING DATE: 23 JANUARY 2024 FROM 9H00 TO 15H00
ASSET LOCATION: UNIT 3, 1 HAMBURG ROAD, APEX, BENONI
VAT PAYABLE ON BIDDING AMOUNT
REFUNDABLE REGISTRATION DEPOSIT: R15 000 Deposit and FICA Documents.
COMMISSION: 10% PLUS VAT
DOC FEE: R1500 PLUS VAT PER RC1 DOCUMENT (VEHICLES)
PAYMENT: EFT ONLY (strictly no cheques or cash)
CONTACT: 012 940 8686 / auctions@cahi.co.za
BANKING DETAILS:
CAHI AUCTIONEERS
ABSA - BRANCH: 632 005 - ACCOUNT: 4053459094
FNB - BRANCH: 250655 - ACCOUNT: 62703122333
NEDBANK - BRANCH 198765 - ACCOUNT: 1101405015
REFERENCE: “FULL NAMES”
PAYMENT:
Invoicing will be done on the day the auction has closed and all payments must be received by 14h00 on the following day. Failure to pay within this timeframe may result in forfeiture of the deposit and lots being put up for sale again. ALL costs associated with the removal of any items are for the bidder.
Cash Deposits into our bank account will attract an administration fee of 3%.
On clearance of payments in the auctioneer’s account, the buyer will receive a removal certificate to present to the site representative for loading.
DISPATCHING TIMES:
ALL lots must be removed no later than 26 JANUARY 2024 between 9h00 and 15h00 weekdays only.
NOTICE:
Every lot will be sold as is, with no guarantees or warrantees, express or implied.
All information regarding the lots in the buyer’s guide are statements of opinions only and shall never imply any guarantee as to the correctness or completeness of any information supplied either verbally or in writing about any lot.
Every person at the site before, during and after the auction sale shall be deemed to be there at his or her own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties and any registered bidder shall so advise his agents and employees.
No persons shall have any claim against the auctioneers, their agents, employees or principals for any injuries sustained, nor for damages to or loss of property which may occur from any cause whatsoever.
It is the buyer’s sole responsibility to view the assets before bidding and to familiarise him or herself with the assets being bought.
APPROVAL REQUIREMENTS
- Refundable Registration Deposit R15 000.00 by EFT
- FICA Documents
Proof of payment and FICA Documents to be sent to auctions@cahi.co.za for approval to bid online.
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FICA REQUIREMENTS:
INDIVIDUAL:
- Copy of ID
- Proof of Residence (not older than 3 months)
COMPANY:
- CIPC Registration document
- VAT & Tax Registration certificate
- BRNC (Traffic Registration Certificate)
- Directors, shareholders & proxy ID copies
- Directors, shareholders & proxy Proof of residence (not older than 3 months)
FOREIGN INDIVIDUAL:
- Copy of your traffic registration certificate
- Proof of identity
- Proof of residence (not older than 3 months)
GENERAL AUCTION CONDITIONS OF SALE AND RULES OF AUCTION
It is expressly noted that all Bidders participating in our auction agree that they have been made aware and understand the Conditions of Sale and Rules of Auction. Auctions are conducted in compliance with Section 45 of the Consumer Protection Act (CPA) No 68 of 2008 and the regulations contained therein applicable to auctions.
Registration Requirements (Also see Auction Information)
- All Bidders are required to complete our registration process in order to participate in an auction.
- A refundable registration deposit is payable, as stipulated on the specific terms for the auction. The refundable registration deposit is payable by way of electronic funds transfer only. Should you be unsuccessful at the auction, your deposit will be returned to you within 2 days (excluding weekends and public holidays) after the auction, provided that the deposit reflects in our account and bank details are supplied.
- All Bidders must supply us with copies of the following FICA requirements:
- If purchasing in your personal capacity, a copy of ID and recent (not older than 3 months) proof of residence;
- If purchasing in your company name a copy of the company BRNC, CIPC documentation, proxy letter and proxy ID copy.
- If purchasing where the person is not a RSA citizen, a copy of your traffic registration certificate, proof of identity and recent (not older than 3 months) proof of residence.
Auction Process & Bidding
- The auction will commence at the published time and will not be delayed to enable any person to take part in the auction.
- All goods are sold as is, in whatever condition they may be and no guarantees whatsoever are given. No claims will be considered by the seller or auctioneer with regard to incorrect descriptions, quality or condition etc. Prospective bidders are therefore advised to inspect the goods or have them inspected before an offer is made and acknowledge that they have done so by placing a bid.
- Description and information in advertisements, catalogues or given verbally are given in good faith. The auctioneer or seller does not hold itself responsible for any errors of description of quality or quantity. A bid shall be taken as proof that the bidder has acquainted him or herself with the lot for which he / she bids.
- Assets to be auctioned will be at the discretion of the auctioneer and the auctioneer reserves the right to combine or divide any lot with the permission of the seller.
- When assets 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.
- The auctioneer reserves the right to regulating the bidding, also refusing any bids and also to sell lots subject to confirmation. The auctioneer shall, at any time, have the right to stop the auction or withdraw any lots without providing reasons.
- In the event of a dispute arising about any bid, the auctioneer may use his discretion and put the lot up for auction again. The auctioneer’s decision will be regarded as final in all cases of disputes arising from the auction.
- Bidders or their representatives as well as their vehicles enter the auction facility for viewing and loading or for whatever other reason at their own risk and the auctioneer will not be held liable for any loss or damage. Bidders and their representative must adhere to the auction facility hours and no one will be permitted to enter the facility outside of these hours.
- If a bidder fails to carry out any of his / her obligations under the auction conditions of sale, the goods may be put up for auction again and the bidder shall be responsible for any loss sustained by reason of his / her default. The bidder will also forfeit his/her deposit and be blacklisted from all future auctions.
- All individuals that visit the auction facility for any reason whatsoever must adhere to strict Covid-19 regulations and protocols, which will include by not be limited to screening, wearing a mask, sanitising and social distancing. Any individual that does not adhere to the regulations will not be allowed to enter the auction facility.
- Should there be any special conditions pertaining to the auction this will be made available by notices on the advertising of the specific auction or lots.
- Where lots that are sold Subject to Confirmation (STC) the highest bid will be subject to the acceptance by the seller and the bidder will be notified of the success of his / her bid within the specified confirmation period as published by the auctioneer.
- The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder's or Auctioneer's internet connection interruption for any reason.
- Registered bidders participating by online auction or Webcast must be aware that the auctioneer cannot accommodate for slow or lost internet connections or the variable delay between bids placed online and reflecting on the auction system on the auction floor. Furthermore, the Auctioneer cannot guarantee uptime on the system. Should it occur that an online bid reflects after the system / auctioneer knocks-down or calls “sold” to a bidder on the auction floor, the online bid will be invalid. Webcast bidders can place pre-bids / max offers prior to auction commencing which the online auction administrator calls on behalf of the online bidder in bidding increments up to the maximum / pre-bid amount. Online bidders are encouraged to bid early and to not wait until the last second.
- Anti-sniping will be applicable on all lots on a timed auction. This will result in a lot being extended for 2 minutes, should there be any bidding on the lot within 2 minutes of it closing. This gives all bidders equal opportunity to bid, should they be outbid in the last 5 minutes.
- The bidder shall be bound by all additional terms and conditions. On the fall of the hammer a sale for the lots shall be final and irrevocably concluded; subject only to any suspensive conditions that may be applicable to any lots. Your bid is final and binding on every item purchased.
- Bids and invoices cannot be cancelled. If a bidder defaults upon the obligations contained herein the bidder shall forfeit their deposit. The bidder should not allow any other person to utilise their bid card / online bid profile. The bidder will be responsible for any bids placed on his / her bid card / online bid profile that other individuals have made. Bidders defaulting on payments will forfeit the auction registration deposit and may incur additional charges in line with the Consumer Protection Act. These bidders will also be blacklisted to take part in any future auctions.
Invoicing & Payments
- All invoicing for any successful bids will be finalised on the day of the auction.
- Information regarding the bidder’s commission, paperwork processing fees and cash deposit fees will be made available by notices on advertising material, our website, the catalogue or shall be announced prior to the commencement of the auction by the Auctioneer.
- Invoice payments are to be made within the spesified timeframe per auction by way of electronic funds transfer only. An administration fee of 3% will be levied on all cash deposits made into our account.
- All assets remain the property of the seller until full payment has been received. Ownership only passes once the assets have been removed.
Removal of Assets
- The removal of assets will be the sole responsibility of the bidder and he / she will be held responsible for any damage to the auction facility or any other assets while removing his / her assets. Bidders are responsible for dismantling, rigging and/or special loading. No assistance will be available on site.
- Assets may only be removed after full payment has been received and on presentation of the applicable removal certificate.
- The auctioneer will publish a set period of time following the auction for the removal of assets. Any assets not removed by this time will be liable to a storage fee of 10% of the purchase price per day until such time as 100% of the purchase price has been reached, following which the auctioneer may dispose of the goods either by private sale or public auction as they deem fit. Extension for late removal must be requested in writing and authorised by the auctioneer. Any purchaser not removing their goods may be blacklisted and banned from all future auctions.
- The auctioneer’s personnel are under no obligation to load assets.
- Risk in and to the assets shall pass to the bidder on the fall of the hammer and it is therefore imperative that the bidder insure all purchases immediately once knocked down to them.
- All vehicles bought on auction must be transferred into the purchaser's chosen name within 21 days after the auction. The purchaser has 7 days after the auction to report any discrepancies with regards to police clearances. All NCO's will be submitted by the auctioneer to the traffic department within 21 days after the auction.
