GENERAL TERMS & CONDITIONS OF SALE

1. Interpretation

1.1. In these General Conditions the following words and expressions shall have the meanings set below:

“Auction” any auction (whether a Live Auction or an Online Auction and whether conducted independently or simultaneously) conducted pursuant to these General Conditions and the Special Conditions;

“Auctioneer” the person conducting the Auction or to whom the conduct of the Auction is delegated under General Condition 4.9 below;

“Bidder” any person who offers to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender;

“Bid” an offer to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender, and “Bids” and “Bidding” shall be construed accordingly;

“Buyer” any person who agrees to purchase any Lot whether at Auction or by private treaty or tender and as determined under General condition 4.12 below;

"Buyer`s Premium" a commission payable by the Buyer on the completion of a Sale the amount of which is set out in the Special Conditions; The Auctioneer, when acting as Agent for the Seller, may also receive commission from the Seller.

“Catalogue” the catalogue incorporating these General Conditions and the Special Conditions;

"Clearance Date and Time" the date and time on which all Lots must be removed by the Buyer from the Location as specified in the Special Conditions;

“The Company” Midland Asset Management Ltd;

"Deposit" the sum payable by the Buyer to the Company as set out in the Special Conditions;

"Live Auction" all auctions conducted are considered to be a Public Auction whether at the Location and/or at such other location(s) as shall be notified by the Company if so requested.

“Location” the premises at which the Lots are located, all lots will be at our depot unless otherwise stated in the lot description.

“Lot” any Lot described in the Catalogue, on the Website or on the Company’s invoice;

"Online Auction" any auction conducted over the internet via the Website pursuant to these General Conditions and the Special Conditions;

"Sale" the sale of any Lot by Auction, private treaty or tender and as determined under General Condition 4.11 below;

“Seller” the person upon whose instructions the Company is conducting the Sale, details of whom are set out in the Special Conditions;

“Special Conditions” any additions to these General Conditions set out or referred to in the Catalogue, announced at Auction or otherwise specified by the Company;

"Website" the website at: www.midlandasset.co.uk

"VAT" value added tax chargeable under English Law for the time being and any similar additional tax.

2. Application of these General Conditions

2.1. These General Conditions apply to every Sale conducted by the Company.

2.2. These General Conditions, the Special Conditions and any terms set out in the Catalogue shall together comprise the "Conditions of Sale".

2.3. To the extent that these General Conditions are inconsistent with any Special Conditions, the General Conditions shall prevail.

2.4. Bidding for any Lot shall be deemed to be an acceptance by the Bidder of these General Conditions and the Special Conditions.

2.5. These General Conditions shall be governed construed and enforced in accordance with the laws of England and Wales unless the Location is in:-

2.5.1 Scotland in which case the laws of Scotland shall apply; or

2.5.2 Northern Ireland in which case the laws of Northern Ireland shall apply.

2.6. A reference to writing or written shall include e-mail.

2.7. Any word or phrase having a meaning defined in these General Conditions shall have the same meaning when used in the Special Conditions.

3. Identity of the Parties

3.1. The Company offers each Lot as Agent of the Seller and not as principal unless otherwise indicated in the Catalogue.

3.2. The identity of the Seller is not always set out in the Special Conditions.

3.3. Unless the Company has previously acknowledged in writing that the Bidder Bids as agent on behalf of a named principal, every Bidder shall be taken to Bid on his own behalf as principal.

3.4. Any Bidder acting as agent on behalf of a named principal shall remain liable to the Seller and the Company for all obligations and liabilities of his principal jointly and severally with the principal. The Bidder warrants that he has the authority of his principal to make each Bid made.

3.5. Every Bidder is required to give his name and address and provide satisfactory proof of identity and such other information and documentation as is required to the Company before making any Bid and in the case of:

3.5.1. A Live Auction by the completion of a registration form;

3.5.2 An Online Auction by online registration at the Website; and

3.5.3 A private treaty or tender by prior registration or notification of details, as and when requested by the Company.

3.6 The Company reserves the right at any time to reject the registration of any persons and refuse access to the Auction at its sole discretion.

3.7 On registration for an Online Auction Bidders will be added to the Company`s mailing list for the purposes of notification of future sales by email. If a Bidder wishes to stop receiving such notifications they can unsubscribe at any time by clicking on the link provided at the bottom of each email.

3.8 On registration in accordance with General condition 3.5 the Bidder acknowledges that only adults aged 18 years and over are entitled to enter into a legally binding contract and as a result they are the only people entitled to register for the Auction. By registering the Bidder warrants that he is aged 18 years or older and is capable of forming a legally binding contract.

4. Conduct of Auctions

4.1 Any Lot may be subject to a minimum bid or reserve price. The Seller is entitled to change these AT ANY TIME before the conclusion of the Sale.

4.2 The Seller, Auctioneer or any representative, agent or person acting on behalf of the Seller may Bid for any Lot. Persons entitled to Bid pursuant to this condition 4.2 shall be entitled to place Bids on any Lot up to the reserve price including by placing Bids in response to other Bidders.

4.3 Lot descriptions will be amended as appropriate as and when information becomes available to the Company. Prospective Bidders must read Lot descriptions before making a Bid so that they are fully aware of any amendments to the description appearing in the Special Conditions and/or on the Website or in the Catalogue in relation to a particular Lot.

4.4 The Auctioneer may at any time before or after the conclusion of the Sale withdraw or divide any Lot or combine any Lots.

4.5 The Company may sell any Lot by private treaty or tender before or after the Auction. The Auctioneer may reject any Bid at his sole discretion and without being required to give a reason.

4.6 No Bid shall be retracted without the consent of the Auctioneer.

4.7 The Auctioneer may where there is a dispute between Bidders; summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason.

4.8 The Auctioneer shall in every other respect decide how the Auction is to be conducted and without being required to give a reason.

4.9 The Auctioneer may in his sole discretion delegate to a person whom he believes to be competent the conduct of the Auction in accordance with these General Conditions.

4.10 The Auctioneer may from time to time act jointly with an associated Auctioneer who will be named in the Catalogue and/or in the Special Conditions.

4.11 A Sale is concluded (constituting acceptance of the Bidder`s offer, subject to General Condition 4.12 below) when:

4.11.1 in the case of a Live Auction, on the fall of the Auctioneer`s hammer; and/or,

4.11.2 in the case of an Live Online Auction, at the close of the timed Online Auction Sale as specified on the Website and as defined by General Condition 4.17.3 below or;

4.11.3 in the case of a private treaty or tender, when the Bidders Bid is accepted by the Company, such acceptance to be communicated to the Bidder in writing by way of email of the Company’s invoice.

4.12 The Buyer shall be the person who made the highest Bid before the conclusion of the Sale pursuant to General Condition 4.11 above subject to approval and acceptance by the Company, the Auctioneers and the Seller or such other Bidder as the Auctioneer and/ or the Company may declare to be the Buyer without being required to give a reason. The Auctioneer and/ or the Company and/ or the Seller is not bound to accept the highest Bid or any other Bid placed in the course of the Auction.

4.13 In the case of an Live Online Auction the Buyer, as determined under General Condition 4.12 above, shall within a reasonable time after the conclusion of the Sale receive by email an invoice in respect of the monies due for the Lot(s) purchased.

4.14 In the event that the reserve price is not met, the Company may consider the Bids received below the reserve price with the Seller who at its sole discretion may accept, reject or place a counteroffer.

4.15 On conclusion of the Sale and acceptance of the Bidders Bid pursuant to General Conditions 4.11 and 4.12 above, the Buyer acknowledges and agrees that he has entered into a contract with the Seller to buy the Lot and the Buyer must complete the transaction to purchase the Lot.

4.16 The Buyer may not remove any Lot he has bought until after the end of the Auction.

4.17 In relation to a Live Online Auction:

4.17.1 the Company cannot guarantee that the internet services will operate continuously or without interruptions and this could affect the conduct of the Online Auction and the Bidders ability to Bid online. The Company shall not be liable in any respect in the event of any dispute due to errors, omissions or disruptions to internet services or power failures or any other unforeseen circumstances which may occur during the Online Auction;

4.17.2 the Auctioneer may at any time, without notice, postpone or cancel an Online Auction or extend an Online Auction beyond the published closing time (including extension of the timed Online Auction in accordance with General Condition 4.17.3 below);

4.17.3 the timed Online Auction Sale is auto bid extension enabled meaning that where a Bid is placed within ten minutes of the original scheduled close of the timed Online Auction the scheduled close of the timed Online Auction will automatically be extended by an additional ten minutes. This continues with a new scheduled close time each time a Bid is placed until no-one places a Bid before the last scheduled close of the timed Online Auction. Every time a Bid is placed within ten minutes or less left in the Online Auction an additional ten minutes Bidding time is added until there are no more Bids. Such time shall then be deemed to be the close of the timed Online Auction.

4.18 In the event that the Auctioneer unknowingly sells a Lot that was not eligible for Sale (i.e. there is a third party interest that comes to light) then the Auctioneer shall be entitled to immediately rescind that Sale without any further liability to the Auctioneer and/or Company or the Seller.

4.19 Your Highest Bid will be treated as a valid bid even if at the time of placing it the RESERVE is NOT MET. Vendors regularly ask us to reduce the reserves in the closing hours and put items on sale. Remember when placing a bid you are bidding to buy. The bidders will be notified of a lowered reserve via email during the sale or with 24 hours of the conclusion of the sale.

4.20 Copies of the Auctions (Bidding Agreements) Act 1927 and 1969 are held at the Company’s and/or the Auctioneer’s principal place of business.

5. Sale and Payment

5.1 The Buyer shall pay the following sums to the Company in full and without set off:-

5.1.1 immediately upon the Sale of any Lot the Deposit, if requested by the Company; and

5.1.2 the balance of the price of the Lot purchased, together with the Buyer’s Premium by no later than 24 hours after conclusion of the Sale or, in the case of an Online Auction, after receipt of an invoice in respect of the purchased Lot(s) pursuant to General Condition 4.13 above, or such other time and date as may be specified in the Special Conditions; and

5.1.3 any other payment or amount due to the Seller and/or the Company pursuant to these General Conditions or the Special Conditions on demand.

5.2 In every case time for payment shall be of the essence.

5.3 In view of Money Laundering Regulations the Company reserves the right to refuse payment in cash.

5.4 If the Buyer fails to make any payment on the due date for payment then, without limiting any other right or remedy available to the Seller, the Buyer shall pay to the Company interest (both before and after any judgment) on the amount unpaid at the rate of 1.5% above the bank base rate of HSBC Bank Plc per month or any part thereof until payment in full is made.

5.5 Until the Buyer has fully complied with its obligations in this General Condition 5:-

5.5.1 title to any Lot bought shall not pass to the Buyer;

5.5.2 the Seller shall have a lien over any Lot bought by the Buyer in the Auction;

5.5.3 if the Buyer effects or purports to effect a resale or any other disposition of all or part of the Lot, the Buyer shall hold the proceeds of resale or other disposition on trust for the Seller.

5.6 All sums payable under these General Conditions and the Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company. On written request by the Buyer the Company will provide a VAT invoice.

5.7 The Company will only accept payment under this General Condition 5 from the Buyer or its authorised agents.

6. Removal of Lots

6.1 Risk of damage to or loss of the Lot shall pass to the Buyer immediately upon the conclusion of the Sale.

6.2 The removal of Lots from the Location shall be undertaken by the Buyer entirely at its own risk and without any liability whatsoever to the Company.

6.3 Buyers are responsible for any and all costs and expenses incurred in relation to the removal of Lots and any other applicable charges, taxes and insurance costs.

6.4 The Buyer may not remove any Lot until the Buyer has:-

6.4.1 paid by cleared funds all amounts payable pursuant to General Condition 5 above in full; and

6.4.2 if requested by the Company produced satisfactory evidence to the Company that the Buyer has adequate public liability insurance in respect of the indemnity set out in General Condition 6.11 below and/or deposited with the Company, by way of security for the costs of making good any damage likely to occur, such sum as the Company may stipulate.

6.5 The Company will only permit the removal of Lots purchased by the Buyer or its authorised agents.

6.6 The Buyer must remove each Lot purchased by the Clearance Date and Time for which time shall be of the essence. Lots may only be removed during normal working hours or such hours as are specified in the Special Conditions. No clearance on Bank or Public Holidays.

6.7 Buyers should co-operate regarding order of removal of Lots in order to comply with the Clearance Date and Time. If it transpires that a Buyer makes no effort to commence dismantling and the particular Lot is preventing other buyers from removing purchased Lots, then the Auctioneer reserves the right to insist that removal take place immediately notwithstanding the specified Clearance Date and Time. In the event the Buyer does not comply with its obligations under this General Condition 6.7, then the Auctioneer reserves the right to arrange for the removal and/or storage of the Lot and charge any attendant costs to the Buyer.

6.8 If any Lot is unsold and has to be dismantled & lowered to allow the removal of any other lot, then such dismantling & lowering shall be the responsibility of the Buyer of the relevant Lot(s).

6.9 Title to computer software sold pursuant to the Sale of a Lot is not transferred under any Sale to the Buyer and use is subject to any licence or copyright restrictions and user conditions. The Sellers, Company and/or Auctioneers reserve the right to erase any private or sensitive information prior to the Sale or at any later date.

6.10 The Buyer and/or his removal contractor must liaise with the Company`s site representative prior to commencing dismantling/removal of a Lot from the Location and must at all times comply with its obligations under clause 6.11 below.

6.11 When removing any Lot from the Location the Buyer shall, or shall procure that its removal contractors shall:

6.11.1 carry out a full assessment of Lot, the Location and the land or buildings to which the Lot is fixed to assess the risks associated with detaching/removing the Lot and shall fully satisfy themselves that they can detach/remove the Lot in compliance with the Buyers obligations under this General Condition 6.11 prior to handling and/or commencing removal of a Lot;

6.11.2 obtain all relevant planning permissions (where required) in relation to the removal of building structures and plant housings;

6.11.3 buyers of Lots will be required to make good holes or voids exposed by the removal of Lots. Cladding taken off buildings for removal of plant & equipment will have to be replaced, unless otherwise specified by the Company;

6.11.4 when detaching any Lot fixed to land or buildings, do so safely and lawfully and must not use flame cutters, explosives or any other dangerous equipment or process without first obtaining written consent of the Company;

6.11.5 remove the Lot in compliance with all relevant legislation, regulations, codes of practice, guidance, orders, rules and other requirements of any relevant government or governmental agency or authority whether Parliamentary, statutory, parochial or local including (without limitation) in compliance with the Health and Safety at Work etc Act 1974, the Environmental Protection Act 1990, The Construction (Design and Management) Regulations 2007, Control of Substances Hazardous to Health Regulations 2002 (COSHH), and the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof and all other health and safety and environmental legislation in existence at the time of the Sale. To the extent that such regulations are advisory rather than mandatory, the standard of compliance to be achieved by the Buyer shall be to the best industry practice;

In all cases arising under this General Condition 6.11 the costs of compliance shall be borne by the Buyer and the Buyer hereby indemnifies the Company and the Seller against all losses, costs, expenses, damages, liabilities, demands, claims, actions and proceedings which the Company and/or the Seller may incur arising directly or indirectly out of any breach by the Buyer to the provisions of this General Condition 6.11 and the Buyer shall make good any damage caused to (without limitation) other lots, the Location or to any property belonging to third parties, in removing any Lot under this General Condition 6.11.

6.12 The Company shall be entitled to halt the clearance of any Lot if in its absolute discretion the removal of a Lot is being carried out in an unsatisfactory manner. Where the clearance is halted by the Company, the Buyer must liaise with the Company`s site representative as to how the Lot should be removed from the Location provided that the Buyer shall at all times ensure that it complies with its obligations under General Condition 6.11 above and the Company shall have no liability in this regard.

6.13 The Buyer shall provide evidence as and when requested by the Company of the Buyer`s insurance policies in respect of the following insurances and at a minimum level of:

6.13.1. Public Liability Cover - limit Two Million Pounds (£ 2,000,000); and

6.13.2. Employers Liability Cover - limit Ten Million Pounds (£10,000,000);

the Company reserves the right to vary the level of insurance cover stated above at any time, as and when required.

6.14 The Buyer shall provide to the Company a Risk Assessment & Method Statement complying with The Construction (Design & Management) Regulations 2007, COSHH or with any subsequent amendments thereof or such other legislation as shall from time to time be in force.

6.15 Electric, gas, water, steam and waste disconnections are the responsibility of the Buyer and MUST be carried out by an approved contractor following consultation with the site representative.

6.16 It is expressly brought to the Buyer’s attention that certain Lots could contain blue or white asbestos, dangerous chemicals etc. which if not handled correctly during their removal could result in breach of Health & Safety at Work legislation and/or Control of Substances Hazardous to Health Regulations or other statutory requirements.

6.17 Any fluids, gases and/ or waste remaining in plant and machinery are the responsibility of the Buyer and MUST be removed from the Location strictly in accordance with any applicable statutory requirements.

6.18 The Buyer must use safe and lawful means of removing the Lot, must comply with all current statutory requirements and regulations including those relating to the disposal and removal if waste, and if required, satisfy the Company in relation to their removal procedures; in particular, the removal of waste materials must be undertaken by an approved and licensed contractor to an approved waste management site.

6.19 It is the purchaser’s or their removal contractors responsibility (i.e. Police, Ministry of Transport, Local Authority) to transport off site long/ wide loads, within sufficient time prior to the commencement of clearance period as stated in the Special Notes & Conditions.

6.20 The Buyer shall indemnify the Company and the Seller against any loss, damages, expenses, claims or liabilities arising directly or indirectly from the possession or use of the Lot after title to the Lot has passed to the Buyer but before it is removed from the Location.

6.21 All Lots are sold on the understanding that the Seller does not represent them as being in a condition which makes them suitable for domestic use. If any Lots are intended for domestic use the Buyer must ensure that they comply with the requirements of the Furniture & Furnishings (Fire) (Safety) Regulations 1988 and any subsequent amendments thereof or such other relevant statutory requirements or regulations as shall from time to time be in force.

6.22 The Buyer undertakes to comply with the provisions of the Data Protection Act 1998 in processing data held by them in connection with any Lot.

7. Default by the Buyer

7.1 If at any time the Buyer has failed to pay the sums specified in General Condition 5 above in full by the due date for payment, or to remove any Lot purchased by the Clearance Date and Time specified in the Special Conditions the Seller may rescind the Sale of that Lot, in which case any Deposit shall be forfeit, and that Lot may be resold.

7.2 If the Seller has rescinded the Sale but the Buyer has removed the Lot purchased, the Seller shall be entitled without previous notice to enter upon any premises where he believes the Lot to be and remove it.

7.3 If the Seller has rescinded the Sale and the Lot has been resold by the Auctioneer and/or the Company or by the Seller, the Buyer shall reimburse the Seller with any shortfall where:-

7.3.1 the resale price less the Sale price; and

7.3.2 the costs incurred by the Seller incidental to the resale.

7.4 If the Buyer fails to remove any Lot by the Clearance Date and Time specified:-

7.4.1 the Seller may remove the Lot from the Location and leave it outside at the Buyer’s risk in all respects;

7.4.2 the Seller may charge the Buyer for the reasonable costs of storage;

7.4.3 the Seller may charge the Buyer rent, taxes, men`s wages and expenses incurred as a result of the Lot(s) remaining at the Location; and

7.4.4 the Buyer shall indemnify the Seller against any loss, damages, expenses, claims or liabilities incurred by the Seller arising from the Buyer’s failure to remove the Lot from the Location.

8. Acknowledgements and Exclusion of Warranties

8.1 The Buyer acknowledges that in agreeing to purchase any Lot he is not relying on any warranties or representations made by the Seller or the Company or any of their employee’s agents or representatives. All representations, warranties and conditions, express or implied, statutory or otherwise in respect of all and any of the Lots are expressly excluded and without limitation any warranties and conditions as to title, quiet possession, satisfactory quality, fitness for purpose and description are excluded to the fullest extent as permitted by law.

8.2 The Buyer further acknowledges that neither the Sellers nor the Company shall in any circumstances be liable to or to compensate the Buyer nor shall the Buyer be entitled to rescind the Sale or reject any Lot for an error omission or misstatement contained in the Catalogue and/or in the Special Conditions.

8.3 The Buyer also acknowledges that:-

8.3.1 all the Lots are purchased on the basis that risk of good title to all or any of them passing to the Buyer is at the Buyer’s risk and without limitation the Lots are sold subject to any claims, liens, distraint and execution and subject to all leasing, hire or hire purchase agreements and reservation of title claims (if any) in respect of them;

8.3.2 if it shall be found that the Seller does not have title to all or any of the Lots the Buyer shall have no right to rescind, avoid or vary this agreement or to claim damages or a reduction in the price paid or payable;

8.3.3 anything found in, under, near or in any Lot which is not specifically included in the description of the Lot remains the property of the Seller;

8.3.4 any intellectual property rights or software subsisting in a Lot may be third party property and as such the Seller and/or the Company may be unable to effect transfer. The Buyer will not be authorised to use intellectual property rights or software and any such use or transfer shall be at the Buyers sole risk.

8.4 The Buyer undertakes that it shall ensure that any vehicle comprised in any Lot is in a roadworthy condition in accordance with the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof or such other relevant regulations as shall from time to time be in force before using it on a public road. It is the Buyer’s responsibility to remove Company logos and lettering from vehicles. Odometer readings are not warranted.

8.5 The Buyer acknowledges that any item of plant, machinery or equipment contained in the Lot(s) may not necessarily comply with any statutory requirements or regulations governing the use of that plant, machinery or equipment in their working environment. Neither the Seller nor the Company shall incur any liability to the Buyer because of any default or defect in all or any of the Lots. Buyers are entirely responsible for ensuring that the use of any item of plant, machinery or equipment does not contravene any health and safety and environmental legislation in existence at the time of the Sale.

8.6 The Buyer acknowledges and agrees that the Company is acting only as agent of the Seller and it is expressly agreed and declared that no personal liability in connection with the Sale of any Lot or otherwise shall fall on the Company and the Buyer shall indemnify the Company against all and any liabilities arising under or in connection with the Sale of any Lot. Insolvency Practitioner(s), including Administrative Receiver(s), Administrator(s) and Liquidator(s) act as agent(s) for the Seller without personal liability and shall incur no personal liability whatsoever in relation to a Sale or pursuant to any document relating thereto.

8.7 The Buyer agrees that the General Conditions and the exclusions which they contain are fair and reasonable bearing in mind that:-

8.7.1 the Buyer must rely absolutely on the Buyer’s own opinion and/or professional advice concerning the quality, state, condition, performance and functionality of the Lots any right, title or interest which is sold under the terms of these General Conditions, their fitness and suitability for any particular or any purpose, the possibility that some or all of them may have defects not apparent on inspection and examination including, without limitation, the presence of contamination and the possibility that the Buyer may not acquire title and the fact that the Buyer would have no remedy under this Agreement should that happen;

8.7.2 the Buyer has available to it skilled professional advice and on that basis agrees to purchase a Lot for a consideration calculated to take into account amongst other things the risk to it represented by the fact that the parties believe that all the exclusions and limitations set out in these General Conditions would be recognised as being fully effective by the Courts and the Seller making it clear that it would not have agreed to sell any Lot on any other basis except for a higher consideration;

8.7.3 the Buyer agrees he/she has been given every opportunity which might reasonably be expected to examine and inspect the Lots.

8.8 Notwithstanding anything else in these General Conditions, the Seller’s and the Company’s total liability under or in connection with the Sale of any Lot, whether in respect of breach of contract, tort (including negligence), breach of statutory duty or otherwise, including consequential loss, shall be limited in aggregate to the price paid for the Lot or if no price has been paid then the higher of the market value or reserve price for the Lot. This General Condition 8.8 does not apply to liability for death or personal injury.

8.9 The Buyer acknowledges that this Sale by Public Auction is not a consumer sale for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 and the Buyer shall not seek to rely upon and conditions or warranties implied thereby or by any other legislation.

SPECIAL CONDITIONS OF SALE

Misrepresentation Act 1967

NOTICES:- Midland Asset Management for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

(i)the particulars are set out as a general outline only for the guidance of intending purchaser or lessees, and do not constitute part of an offer or contract;

(ii)all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact must satisfy themselves by inspection or otherwise as to the correctness of each of them;

(iii)no person in the employment of Midland Asset Management has any authority to make or give any representation or warranty whatever in relation to this lot

(iv)this lot is offered subject to it not being sold, let or withdrawn and these particulars are supplied on the understanding that all negotiations relating to this property are to be conducted through Midland Asset Management subject to contract.

THE MENTION OF ANY APPLIANCE AND/OR SERVICES WITHIN THESE SALE PARTICULARS DOES NOT IMPLY THEY ARE IN FULL AND EFFICIENT WORKING ORDER.

Location: As displayed on the sale details page or in the catalogue

Viewing: As displayed on the sale details page or in the catalogue

Access to the Location is allowed on the understanding that all persons attend the Location entirely at their own risk and are responsible for and will indemnify the Seller and the Company against any losses damage or claims occasioned by their presence at the Location.

Children under the age of 16 will not be allowed access to the Location.

Registration:

All bidders must register their details with the Company and provide identification where required. In the case of Live Auctions by way of the registration form provided at the Live Auction or in the Catalogue and in the case of Online Auctions, online at the Website.

Bidding:

The General Conditions and the Special Conditions apply to all Sales by way of Public Auction, private treaty and tender and in the case of any Bids placed by way of an Online Auction stress that all Bidders must read and understand the terms and conditions of registration.

At the close of the timed Online Auction Sale final Bid figures will be submitted to the Seller for its approval and any Bid shall be subject to approval and acceptance by the Company and/or the Seller. No Bid may be withdrawn and the Company/Seller does not bind himself to accept the highest Bid or any other Bid placed in the course of the Online Auction Sale.

Your bid remains valid even if the reserve is not met – As we always submit the highest bid to the vendor and they may agree to accept the bid.

Buyer`s Premium

Buyers will pay a Buyer`s premium of 10% (lots over £10,001), 15% (lots over £1001) or 20% (lots up to £1000) plus VAT of the purchase/hammer price for each Lot purchased whether by Auction or, private treaty or tender. The Buyer`s Premium is payable by the Buyer to the Company in accordance with the General Conditions and, for the avoidance of doubt is payable in addition to the purchase price for the Lot. The Buyer`s Premium is not negotiable and is payable by all Buyers.

Payment:

All Lots shall be paid for in full within 24 hours of the conclusion of the Sale and shall be at the Buyer`s risk immediately upon the conclusion of the sale.

The preferred payment method is Telegraphic/Bank Transfers as follows:

Account: Midland Asset Management

Bank: HSBC

Sort Code: 40-38-11

Account Number: 01461958

Cash - In view of Money Laundering Regulations the Company reserves the right to refuse payments over £9000 in cash.

Bankers Draft/ Cheques: Payable to “Midland Asset Management” will only be accepted on the basis that any Lots are not removed until cleared funds are in the Company`s account.

The Company accepts credit or debit card payments ONLY in person, ie.‘Chip and Pin’ for settlement of invoices. A charge of 3% of the lot amount will be issued for credit card payments.

The Company can only accept Credit or Debit Card

All sums payable under the General Conditions and these Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company.

THE COMPANY RESERVES THE RIGHT TO TAKE PAYMENT UP TO THE FULL AMOUNT OFF THE CARD USED TO REGISTER WITH IF NO CONTACT HAS BEEN MADE

ANY PAYMENT NOT RECEIVED BY PAYMENT DEADLINE DATE WILL INCUR STORAGE CHARGES OF £20 + VAT A DAY

Clearance:

All lots must be cleared without fail by the date as displayed on the sale details page or in the catalogue, normally 5 days after the auction, such date and time being the Clearance Date and Time as referred to in the General Conditions, REMOVAL OF ALL LOTS WILL BE STRICTLY BY APPOINTMENT.

UNLESS BY PRIOR AGREEMENT IN WRITING, LOTS WILL INCUR A £20 + VAT A DAY CHARGE FOR EVERY DAY THAT THE LOT IS NOT COLLECTED AFTER THE SPECIFIED DATE ON THE AUCTION.

WE RESERVE THE RIGHT TO RE-OFFER UNCOLLECTED LOTS TO RECOVER COSTS

Collection from location is the Buyer’s responsibility, neither the Company/Seller provide a packing/ delivery service unless specifically stated in the lot description.

Removal: Unless specified to the contrary all Lots must be removed from the Location not later than the Clearance Date and Time specified for final removal in these Special Conditions.

Overseas Buyers VAT Payments and Returns:

All overseas Buyers (EU and non EU) will be charged VAT at the current rate on each Lot purchased. This will be refunded to the overseas Buyer as soon as the Seller receives a copy of the bill of lading as proof of export, providing this documentation is received within 3 months of the sale date. The Seller is unable to refund the VAT on the Buyer’s Premium.

THIS IS A PUBLIC AUCTION - ALL BIDS ARE VALID - CLIENTS MAY DECIDE TO REDUCE THE RESERVE TOWARDS THE END OF THE AUCTION - SO REMEMBER - YOU BID TO BUY! WINNING BIDDER INVOICES WILL BE EMAILED MONDAY MORNING AND NEED TO BE SETTLED SAME DAY. IF YOU ARE UNABLE TO DO THIS, PLEASE DO NOT BID.

Buyers Premium based on hammer price:

0-£1,000 20% + vat
£1,001 - £10,000 15% + vat
£10,001 + 10% + vat

Viewing encouraged, strictly by appointment with auctioneers. Please call on 01777 838112

Payment to be made IN FULL – next day, by 17:00pm (on Monday following the sale date)

IF PAYMENT HAS NOT BEEN RECEIVED BY THIS DATE THEN YOU WILL INCUR A STORAGE CHARGE OF £20 + VAT A DAY PER LOT

NOTE: Vehicles are transported to our compounds and merely driven for the purpose of photographing and parked up for viewing - we have not necessarily personally viewed or test driven any vehicle.

The Buyer acknowledges that this is a Public Auction sale where bidders may be on-line or in person and as such is NOT a consumer sale  for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 / 1999 Regulations and the Buyer shall not seek to rely upon any conditions or warranties implied thereby or by any other legislation.

All lots are strictly sold with no grading or guarantees and can include used items, salvage, untested part-exchange, repossessed, ex- finance and seized vehicles.

Any appraisal is given purely as a guide/opinion by the delivery driver/photographer not a mechanic/expert and does NOT form any part of the description.

ALL PAYMENTS TO

Account Name: MIDLAND ASSET MANAGEMENT

Sort Code: 40-38-11

Account Number: 01461958

Debit and Credit Cards. (3% charge on Credit Cards) IN PERSON ONLY ie:  'Chip and Pin'

The Company can only accept Credit or Debit Card payments in person  WE RESERVE THE RIGHT TO TAKE PAYMENT UP TO THE FULL AMOUNT DUE OFF THE CARD USED TO REGISTER WITH, IF NO CONTACT HAS BEEN MADE BY CLOSE OF BUSINESS THE DAY FOLLOWING THE END OF AUCTION.

E & O.E  (Errors & Omissions Excepted)

Details are provided in good faith, with information available at the time of listing. They should not be relied upon as fact and buyers should make their own investigations where measurements, weights and mileages are critical.

VAT is applicable on all lots unless stated otherwise in the lot description. 

DELIVERY: we can arrange quotes from 3rd party fully insured delivery companies

Please be aware that all deliveries, both driven and transported, are undertaken by a third party and is separate from the auction sale. We cannot be held responsible for any issues that arise during the delivery process.

Misrepresentation Act 1967:
NOTICES:- Midland Asset Management Ltd for themselves and for the vendors whose agents they are, give notice that
(i) the particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract; 
(ii) all mileages, descriptions, dimensions, references to condition and /or use and other details are given in good faith and are believed to be correct but any intending purchasers should not rely upon them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them;
(iii) no person in the employment of Midland Asset Management Ltd has any authority to make or give any representation or warranty whatever in relation to this property;
(iv) All lots are offered subject to it not being sold or withdrawn and these particulars are supplied on the understanding that all negotiations relating to any lot are to be conducted through Midland Asset Management Ltd, subject to contract.
THE MENTION OF ANY CONDITION WITHIN THESE AUCTION PARTICULARS DOES NOT IMPLY THEY ARE IN FULL AND EFFICIENT WORKING ORDER.

Please note:

Collection by 16.00PM on Friday following the end of auction STRICTLY BY APPOINTMENT ONLY- UNLESS BY PRIOR AGREEMENT IN WRITING. Any items not collected by this date will incur a storage charge of £20 + VAT a day. WE RESERVE THE RIGHT TO RE-OFFER UNCOLLECTED LOTS TO RECOVER OUTSTANDING COSTS

Please note that in addition to above, all invoices not settled within our payment terms will be referred to our Debt Recovery Agents, Final Demand Ltd and will be subject to a surcharge of 15% plus VAT in lieu of our recovery charges.