VENDOR’S TERMS & CONDITIONS FOR CONSIGNING GOODS
1. CONTRACTUAL RELATIONSHIPS
(a)These Vendor's Terms & Conditions of Business constitute the entire contractual relationship between ML, the Seller/ Consignor/Vendor, (Vendor) & the Buyer.
(b)As auctioneer, ML acts as agent for the Vendor. A sale contract is made directly between the Vendor & the Buyer. However, ML may own a lot (& in such circumstances acts in a principal capacity as Vendor) &/or may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise.
(c)Any person who sells any item included in this catalogue or otherwise included in the sale, whether successful or unsuccessful, is deemed to have accepted these Vendor's Terms & Conditions of Business & agrees to unreservedly be bound by them.
2. COMMON TERMS.In these Vendor's Terms & Conditions of Business:
'ML' means Military Lane Pty Ltd (ABN: 86 796 165 304), the address of which is PO Box 7150, Brighton East, Victoria
Australia 3186;
'ABN'means Australian Business Number as defined in a New Tax System (Australian Business Number) Act 1999 as amended;
'Australian Resident'means an Australian resident as defined in the GST Act;
'Bidder'is any person considering, making or attempting to make a bid, by whatever means & includes Buyers;
'Buyer'is the person who makes the highest bid or offer accepted by the Auctioneer & includes such person's principal when bidding as an agent;
'Estimate' means the estimated sale price range of a lot.
'Forgery'means an imitation made with the intention to deceive as to authorship, attribution, origin, composition, age or source, which is not so described in the catalogue & which has a value materially less than if it had been in accordance with the description in the catalogue.
'GST' means a tax payable under the GST Act;
'GST Act'means a New Tax System (Goods &Services Tax) Act 1999 as amended;
'Hammer Price'is the highest bid accepted by the Auctioneer by the fall of the hammer, or in the case of a post-auction sale, the agreed sale price;
'Hard Reserve'is the confidential minimum Hammer Price at which the Vendor has agreed in writing to sell a lot;
'Insurance' means full insurance coverage for all items once ML takes possession of such items, unless notified otherwise;
'Purchase Price'is the Hammer Price & applicable Buyer's Premium & GST;
'Storage Charge'is the amount in which ML in its absolute discretion may impose on unsold items not collected within an acceptable period;
'Surrender Fee'is the fee payable to ML by the Vendor for all items of no commercial value surrendered to the Police for destruction.
'Tax Invoice'means a tax invoice as defined in the GST Act;
'Transfer fee'is the amount, per licensed firearm, plus GST, due & payable on transfer of all licensed firearms & shall be deemed a Vendor's Expense
'Unsold item fee'is the amount in which ML in its absolute discretion may impose on unsold items;
'Vendor'is the person offering a lot for sale (including any agent executors or personal representatives);
'Vendor's Premium'is the commission payable by the Vendor on the Hammer Price in accordance with Condition 3 plus any applicable GST;
'Vendor's Expenses'are any costs or expenses due to ML from the Vendor, including GST.
3. In consideration for marketing & selling the item/s consigned to ML by the Vendor for sale by ML, the Vendor acknowledges & agrees that ML is entitled to receive from the Vendor a commission of 15% plus GST of the purchase price in respect of any item/s selling for greater than $500.00 & 17½% plus GST of the purchase price in respect of any item/s selling for $500.00 or less, whether by auction sale or private treaty.
4. The Vendor warrants & represents to ML that the Vendor is the unencumbered true owner of the item/s & that the Vendor is fully entitled to sell the lot/s & that the lot is free from all liens, charges, encumbrances (including registration on the Personal Property Security Register) & third party claims including a claim by a spouse.
5. At the time of consigning the item/s, the Vendor may negotiate with ML to set a price at which the item/s will not be sold for less than ("the reserve"). Where at the time of consigning the item/s the Vendor fails to negotiate such price, ML is entitled to either set a reserve that in its opinion is reasonable in the circumstances, or to sell the item/s without reserve.
6. No reserve will be set on any item of $800.00 & less than. An item/s with an estimate of $800.00 & less will therefore be auctioned without reserve.
7. In consideration for marketing the item/s consigned to ML by the Vendor for sale by ML, the Vendor acknowledges & agrees that ML is entitled to charge the Vendor a fee of 30% plus GST of the reserve where the Vendor set a reserve on the item/s greater than the reserve recommended & confirmed in writing by ML & the item/s subsequently failed to sell at or after auction.
8. In consideration for marketing the item/s, ML is entitled to charge the Vendor a fee of 30% of the reserve, plus GST along with expenses incurred, where the Vendor withdraws the item/s after ML has taken possession of the item/s, or 3 days or more after an agreement to auction the item/s is made.
9. If ML, auctions the Vendor's item/s but the said item/s fail to sell at auction, ML is entitled to retain the item/s for a period of no less than 30 days after the day of auction, during which time ML may sell the item/s by private treaty at or above the reserve, or where the item/s have been consigned without reserve, to sell the item/s at a price that ML considers to be reasonable in the circumstances.
10. If an item is unsold at auction & is placed for auction at any subsequent auction the reserve/estimate will be reduced by a minimum of 20% & the Vendor will be liable for all commissions due & payable to ML whether the item is sold or unsold.
11. ML is entitled to maintain a lien over any specific item/s consigned where the Vendor owes ML a fee in respect of that specific item/s. In addition, ML is entitled to maintain a general lien over any item/s consigned where the Vendor owes to ML an amount of money that is not related to specific item(s).
12. GST is payable by the Vendor in respect of all commissions, fees & charges due to ML. The GST amount will not be inclusive in the commission, fee or charge, but will be an amount in addition to the said commission, fee or charge.
13. Where the Vendor is "GST registered", GST will be payable by the buyer on the entire sale price of the item/s & of that GST, the percentage that is collected by ML on behalf of the Vendor will be paid to the Vendor at the time of settlement. It is then the Vendor's responsibility to forward the GST collected on the Vendor's behalf to the relevant authorities. A GST registered Vendor must provide an Australian Business Number ("ABN").
14. For the purpose of marketing &facilitating the sale of the Vendor's item/s, ML acts as the Vendor's agent. Where any
representation is made by ML in respect of any item/s consigned by the Vendor, either written or oral, that representation is made by ML on the Vendor's behalf as its agent. Therefore, while all due care is taken to accurately describe the Vendor's goods, ML expressly denies its own liability as against a buyer for any misrepresentations made by it on the Vendor's behalf. Accordingly, where a cause of action arises for misrepresentation of any goods, the Vendor & not ML will be responsible for refunding the total purchase price plus fees to the buyer &/or for the buyer's loss or damage.
15. Where the Vendor is believed by ML to have knowingly concealed a defect in respect of any item/s sold by ML on the Vendor's behalf, provided that the payment otherwise due & payable to the Vendor has not yet been paid to the Vendor, ML will give the buyer a full refund. The Vendor will then be liable to pay to ML the commissions referred to in clause 7 above, in addition to any other agreed expenses due to ML. ML is entitled to maintain a lien over the Vendor's item/s until such commission/expenses are paid.
16. Whilst all due care is taken by ML in respect of the Vendor's item/s during display & storage (& where relevant transportation), ML is not responsible for any loss or damage that may occur to the said item/s. It is the Vendor's responsibility to procure insurance in respect of the item/s, although by prior arrangement ML may procure insurance &/or transit insurance in respect of the item/s on the Vendor's behalf.
17. ML shall have the right to photograph any lot & to use at its discretion in the normal course of business such photographs & any photograph of a lot owned by the Vendor whether or not in conjunction with the sale. The copyright of all photographs taken & made of any lot by & on behalf of ML shall be the absolute property of ML.
18. The Vendor's item/s will not be released to the buyer until such time as "full payment" has been made. Full payment includes payment of every part of the hammer/private treaty price, tax, commission & any other agreed expense. Means of payment ML's receipt of which is deemed full payment include: cash payment; bank transfer, credit card, Australian money order &/or provision of a bank, personal or business cheque. Where a buyer defaults under its contractual obligations & the item/s has/have not been collected, the Vendor has the option to either retake possession of the item/s & seek whatever remedies it may have against the buyer, or to mitigate its losses by having ML re-offer the item/s for sale at the subsequent auction or to make a private sale of the item/s on the Vendor's behalf. The Vendor will then be responsible for seeking whatever remedies it may have against the buyer. Where payment has been made by personal or business cheque & the buyer has taken possession of the items, but the cheque or credit card has been subsequently dishonoured, it is the Vendor's responsibility to seek whatever remedies it may have against the buyer.
19. Where the Vendor's item/s are subject to a lien by ML pursuant to clauses 10 & 14 above, ML is entitled to maintain the said lien until such time as the Vendor pays to ML all of the monies it is due under this agreement. After 60 days of maintaining the lien over the item/s, ML is empowered to consign the item/s on the Vendor's behalf into its next public auction & sell the item/s unreserved, or where an auction is not scheduled for a further 30 days, to sell the item/s by private treaty at a price it deems to be reasonable in the circumstances. ML will then take from the proceeds of the sale of the said item/s any money due to it under this agreement & pay to the Vendor the remainder of the sale price.
20. ML is entitled to deduct the commission fee as specified from the proceeds at the time of settlement together with all other charges reasonably incurred by ML on the Vendor's behalf. The commission will be based on the gross sale price of the items.
21. ML will pay the Vendor the proceeds of the sale less all charges for commission, cartage, advertising, insurances, pickup, storage, transfer, handling, unsold fees & any other reasonable expenses will be sent by way of cheque 35 days after the buyer has made full payment in respect of the item/s & any & all clearances on those payments have taken place.
22. (i) ML shall charge insurance fees re-imbursement for all items placed at each individual auction at the rate of 1.5% plus GST of:-
(a) the hammer price of the Lot, if sold;
(b) the low estimate if the Lot is unsold;
(c) the low estimate, if not already offered for sale (or our reasonable estimate of auction value where there are no pre-sale estimates).
22. (ii) If damage or loss occurs whilst the property is at ML's risk, the maximum amount of ML's liability shall be set out in condition 22 (i) a 22 (i) b & 22 (i) c as applicable, less Vendor's commission & all expenses.
22. (iii) ML will not be liable for any loss or damage caused by normal wear & tear, gradual deterioration or inherent vice or defect, proofing &/or repair processes.
23. When ML is required to surrender licensed firearms to the relevant authorities a charge of $50, plus GST, per item & for each & every subsequent item will be charged.
24. Storage will be charged by ML at the rate of $5.00 plus GST, per item, per week for all items held over & above the agreed period of time.
25. A transfer fee of $25 per licensed firearm plus GST is due & payable on transfer of all licensed firearms.
26. An unsold fee of $50.00 plus GST per item will be charged by ML for each & every item unsold at the end of the auction.
27. If the item/s remains unsold after the auction the Vendor must pay to ML all expenses incurred.
28. The sale of items by ML including to international buyers is governed by all State (Victorian) laws relating to the sale of goods, sale of goods at auction & agency relationship. All other relevant State (Victorian) & Federal (Australian) laws including laws relating to tax apply, including to international buyers apply.