NATIONAL TERMS & CONDITIONS FOR AUCTION SALES
LIVESTOCK NOT FOR SLAUGHTER In consideration of the buyer agreeing to participate in the auction, of livestock owned by the vendor ("Vendor") to be conducted by Landmark Operations Limited ("Landmark Operations ") (the "Auction") , the buyer, the Vendor and Landmark Operations agree as set out below:
1. BIDDING
1.1 The livestock will be separated into lots prior to auction.
1.2 The buyer with the highest bid ("Buyer") will purchase the lot, subject to these terms and conditions and any reserve price.
1.3 The Vendor reserves the right:
(a) to make one or more bids at the Auction in respect of a lot or lots; and
(b) to withdraw any lot or lots from sale and without declaring the reserve price.
1.4 Landmark Operations reserves the right to accept or refuse any bid.
1.5 If a dispute arises as to a bid (including a final bid), Landmark Operations has the sole authority to decide whose bid was the last or, alternatively, to resubmit the lot for sale.
1.6 A Buyer is taken to be a principal unless, before bidding, the Buyer has given to the Auctioneer a copy of a written authority to bid for or on behalf of another person or corporate body.
1.7 Subject to clause 1.4 the price at which the hammer falls and as recorded in the sale book by Landmark Operations will be the price (exclusive of any GST) payable by the Buyer and shall be binding on the Buyer and the Vendor.
2. SALE , FINANCE AND TITLE TO LOTS
2.1 Unless the Buyer has made prior arrangements which are acceptable to the Vendor or Landmark Operations, the Buyer will remove each purchased lot from the premises by the close of business on the day of the Auction.
2.2 Subject to clause 2.3 , the purchase price is payable by the Buyer to Landmark Operations in full in cash on the fall of the hammer on the day of Auction
2.3 Landmark Operations may extend credit to the Buyer provided that arrangements are approved by Landmark Operations in writing prior to the Auction. If payment in full is not made pursuant to clause 2.2, interest will accrue daily on the outstanding amount at the rate of 16.5% per annum (which rate is subject to variation from time to time) until the date payment is made in full.
2.4 If the Buyer requests, Landmark Operations may arrange, at the Buyer's risk and expense, for the feeding, watering, transporting and general attendance on any lot sold.
2.5 Risk in all lots shall pass to the Buyer on the fall of the hammer and neither the Vendor nor Landmark Operations shall be responsible for safeguarding any lot thereafter nor for any loss or damage occasioned to such lot regardless of whether either the Vendor or Landmark Operations take delivery of the lot on behalf of the Buyer.
2.6 Title to and property in a lot shall not pass to the Buyer until payment in full has been made by the Buyer. Until then, the Buyer holds the lot as trustee for the Vendor. If the Buyer fails to make payment, the Vendor and/or Landmark Operations will be at liberty to repossess the lot and for that purpose, without prejudice to any rights or remedies the Vendor and/or Landmark Operations may have against the Buyer under these terms and conditions or at law or in equity, to enter upon the lands or premises of the Buyer or other lands where the lot is held.
2.7 If and to the extent that it is found that by reason of clause 2.8, Landmark Operations is not effectively subrogated to the title of the Vendor in the lot, the parties, in the alternative acknowledge and agree that property and title in the lot shall pass to Landmark Operations upon the payment of the purchase price to the Vendor by Landmark Operations (as del credere agent) and shall only pass to the Buyer upon payment of the purchase price by the Buyer to Landmark Operations or the Vendor (as the case may be).
2.8 Wherever Landmark Operations pays the Vendor before being paid by the Buyer, Landmark Operations is the del credere agent of the Vendor and the parties acknowledge that all rights of the Vendor as reserved hereunder are fully subrogated to Landmark Operations. Nothing in these terms and conditions shall render Landmark Operations in any way whatsoever liable to the Buyer as Vendor nor entitle the Buyer to set off against Landmark Operations any right the Buyer may have against the Vendor or otherwise.
2.9 All livestock entered for sale are subject to usual commission and yard fees if sold privately by the Vendor without reference to Landmark Operations.
2.10 Landmark Operations has been retained by the Vendor as auctioneer for the purpose of selling the livestock comprised in the lots for the highest price. The terms of engagement between Landmark Operations and the Vendor do not extend to the provision of advice by Landmark Operations to the Vendor in relation to the safety or otherwise of the sale ring, the saleyards and the surrounding environment.
3. GST
3.1 Definitions
Words defined in A New Tax System (Goods and Services Tax) Act 1999 (Cth) have the same meaning in this clause.
3.2 Amounts GST exclusive
The Vendor acknowledges that all bids and other amounts payable in respect of a lot are exclusive of GST and that the Vendor is solely responsible for paying any GST payable on the sale of the livestock from the proceeds of sale (including without limitation a sale by the Vendor under clause 2.7).
3.3 GST payable in addition to purchase price
In addition to paying the amount bid by the Buyer (which is exclusive of GST) the Buyer must:
(a) Pay to the Vendor an amount equal to any GST payable for any supply by the Vendor under or in connection with these terms and conditions (including, without limitation the sale), without deduction or set-off of any other amount; and
(b) Make that payment as and when the amount bid by the Buyer or other consideration or part of it must be paid or provided.
3.4 GST on claims
(a) If a payment to satisfy a claim or a right to claim under or in connection with these terms and conditions (for example, for misleading or deceptive conduct or for misrepresentation or for a breach of any warranty of the Vendor or of Landmark Operations or for indemnity or for reimbursement of any expense) gives rise to a liability to pay GST, the payer must pay, and indemnify the payee against the amount of that GST.
(b) If a party has a claim under or in connection with these terms and conditions for a cost on which that party must pay GST, the claim is for the cost plus all GST (except any GST for which that party is entitled to an input tax credit).
(c) If a party has a claim under or in connection with these terms and conditions whose amount depends on actual or estimated revenue or which is for a loss of revenue, revenue must be calculated without including any amount received or receivable as reimbursement for GST (whether that amount is separate or included as part of a larger amount).
3.5 Tax Invoices
(a) Except for a sale to Landmark Operations occurring under clause 2.7 the Vendor agrees that it will not issue a tax invoice in respect of a sale of any lots. Landmark Operations acknowledges that it will issue tax invoices to Buyers in respect of sales made by it on behalf of the Vendor.
(b) Where a sale occurs under clause 2.7 and such sale is a taxable supply made by the Vendor, the Vendor will issue a tax invoice to Landmark Operations at the same time or prior to payment by Landmark Operations of the purchase price.
4. THE LIVESTOCK
4.1 The Buyer acknowledges that all lots have been made available for inspection prior to sale and accordingly all lots are sold with all faults discoverable by inspection or otherwise and the Buyer must satisfy itself as to the condition, quality and fitness thereof before bidding. No refunds will be made, nor will the Buyer be entitled to reject any lot on the grounds that it is not correctly described in the sale catalogue, advertisements or other information supplied.
4.2 The Buyer acknowledges that neither Landmark Operations nor the Vendor has made any representation or given any warranty express or implied as to the condition of any lot and that it is aware certain rights are conferred upon some buyers of goods by law which cannot be excluded from or modified or limited in any contract for the sale or purchase of such goods. In this event the liability of the Vendor shall be limited at the Vendor's option to the replacement or re-supply of equivalent livestock or repayment of the cost of the replacement or re-supply of equivalent livestock.
4.3 Landmark Operations gives no warranty as to the Vendor's title to the lot or the Vendor's right to sell and is not liable in any respect for any error, misdescription or omission in any particulars appearing or stated regarding that description or pedigree or any lot offered for sale.
4.4 If there is a deficiency in the number of any lots sold, neither the Vendor nor Landmark Operations shall be bound to deliver more than the number actually in its possession.
4.5 If the Buyer fails to comply with any of these terms and conditions all moneys or other instruments which the Buyer has paid or given to Landmark Operations and/or the Vendor will be absolutely forfeited to the Vendor and the Vendor will be at liberty, without any notice to the Buyer, to resell the lots by public auction or by private contract upon such terms and conditions as the Vendor may think fit. Any deficiency arising on such sale and all expenses of and incidental to any sale or attempted sale shall be recoverable from the Buyer as liquidated damages.
4.6 Any statements made by the Vendor or Landmark Operations whether in writing or orally to the effect that any female has been pregnancy tested positive shall mean and require only that a certificate in writing shall be supplied to the Buyer signed by a qualified veterinary surgeon certifying that he/she has pregnancy tested the said female on a date specified in the certificate and that in his/her opinion the female was pregnant on that date. |
