BUYERS CONDITIONS OF SALE

STANDARD TERMS & CONDITIONS OF BUSINESS

1. DEFINITIONS
1.1 In these conditions the following terms have the following meanings unless inconsistent with the context:
“Auctioneers” means Cheffins of Clifton House, 1-2 Clifton Road, Cambridge CB1 7EA
“Conditions” means the standard terms and conditions of business set out in this document
“Lots” means all machinery and all other items sold or intended to be sold in accordance with these Conditions
“Purchaser” means a person, firm or company who purchases lots
“Vendor” means any person, firm or company who puts forward lots intended to be sold at the Sale
“Sale Day” means the day fixed by the Auctioneers for an auction and where the context so requires means the day
fixed for the auction in which a particular lot is entered
“Reserve Price” means the minimum price fixed by either the Auctioneers or the vendor at which lots are to be sold
at the Sale

1.2 Except where the context otherwise requires words denoting the singular include the plural and vice versa; words
denoting one gender include all genders; words denoting persons include corporations and vice versa

2. VALUE ADDED TAX ON PURCHASE PRICE

2.1 VAT at the standard rate will be added to the purchase price of all lots. The only exceptions to this will be the case
of ‘zero rated’ or ‘exempt lots’. The Auctioneers will state at the time of sale if any lots fall within these exceptions.

2.2 In the case of overseas purchasers from EC countries they will be required to supply the Auctioneers with their
VAT/FISCAL NUMBER AND OTHER RELEVANT INFORMATION AS REQUESTED in order that the items may be invoiced
at zero rate for VAT purposes. HOWEVER, A VAT DEPOSIT EQUIVALENT TO THE STANDARD RATE OF UK VAT WILL
BE CHARGED ON ALL LOTS.
THE GOODS MUST BE SENT OR TRANSPORTED OUT OF THE UK TO A DESTINATION IN ANOTHER EC MEMBER STATE.
It is the responsibility of overseas purchasers from EC Countries to ensure that they or their haulier complete and
sign a COLLECTION CERTIFICATE on collection of the goods purchased. The original certificate must be left with the
Auctioneers.

Upon the above requirements being met in full, a refund of the VAT deposit will be made to the purchaser. Failure
to do so will result in the VAT deposit being paid over to Customs & Excise as VAT.

2.3 In the case of overseas purchasers from NON EC COUNTRIES, they will be required to pay a VAT DEPOSIT equivalent
to the standard UK rate. Such amount will be refunded to the overseas purchaser if the Auctioneers receive, within
three months of the time of supply, a satisfactory Bill of Lading or Certificate of Shipment as proof of shipment of
the lots outside the EC, failing which the VAT deposit will be paid over to Customs & Excise as VAT.

3. RESERVE PRICE AND BIDDING
3.1 The Auctioneers and/or the vendor reserve the right to fix a Reserve Price for any lot and withdraw that lot in the
event that the highest bid price does not meet the reserve
3.2 The vendor may bid for any lot either personally or through the Auctioneers or through any other person as many
times as the vendor thinks fit and may withdraw any lot at any time before the sale of such lot
3.3 The Auctioneers may without giving any reason refuse to accept the bidding of any person. In the case of a dispute
as to any bid, the Auctioneers may forthwith determine the dispute or put up the lot again at the last undisputed
bid or withdraw the lot
3.4 No person may advance a bid less than a sum to be named from time to time by the Auctioneers nor be allowed to
retract a bid
3.5 The highest bidder for each lot shall be the purchaser of that lot

3.6 A legally binding contract exists at the fall of th hammer and the purhaser has no right to cancel or annul the sale

4. AUCTIONEERS AS AGENT FOR VENDOR
4.1 The Auctioneers sell as Agent for the vendor and as such are not responsible for any default by the vendor or
purchaser
4.2 In the event that a purchaser fails to pay the purchase price for the lot in accordance with these Conditions and the
Auctioneers have previously advanced to the vendor of such lot an amount representing such purchase price the
vendor shall forthwith at the request of the Auctioneers assign all and any of his rights against the purchaser in
respect of the unpaid purchase price to the Auctioneers and shall execute such documents as may be required by
the Auctioneers to give effect to such assignment and further, shall give reasonable co-operation to the Auctioneers
in any action, claim or proceeding brought or threatened by the Auctioneers against the purchaser

5. REMOVAL OF LOTS
5.1 All lots whether sold or unsold may not be removed from the Saleground without a pass for the removal of lots.
Passes can be obtained from the Auctioneers offices
5.2 All lots purchased must be cleared from the Saleground within 7 days of the date of the Sale in which they were
purchased unless otherwise stated at the time of sale
5.3 The Bidder is on risk once the hammer falls and is strongly advised to effect insurance at once. Upon the fall of the
hammer the Bidder shall assume all risks in and relating to such lots. The Bidder is advised to effect in respect of all
such risks arising thereafter any insurance it may consider necessary. The duty of the Auctioneer and/or the vendor
to deliver lots shall be deemed performed upon the fall of the hammer even if a lot is subsequently and/or part
thereof has been lost
5.4 It is the reponsibility of all purchasers to collect lot(s) purchased from the sale within the specified collection period as stated above.

6. DETAILS OF PURCHASERS
All purchasers are required to Register before the auction at the Auctioneers Office, whether or not the lots, which
they purchase are to be removed on the day of the Sale

7. EXCLUSION OF LIABILITY
The Auctioneers shall not be liable for any expense, loss, claim or proceedings in respect of personal injury to or death
of any person arising out of or in the course of or caused by the Sale, except to the extent that the same is due to
the negligence of the Auctioneers, their servants or agents

8. PAYMENT
All lots must be paid for on the day of the Sale by the purchaser

9. INSPECTION OF GOODS
9.1 Unless a warranty is specifically given for a particular lot at the time of the Sale all lots are sold with all faults and
imperfections and errors of description. Purchasers should satisfy themselves prior to sale of the lot as to the
condition of each lot and should exercise and rely on their own judgement as to whether the lot accords with its
description. Neither the Auctioneers, their servants or agents are responsible for errors of description or for the
genuineness or authenticity of any lot, unless otherwise stated no warranty is given by the Auctioneers, their servants
or agents or by any vendor to any purchaser in respect of any lot and any express or implied conditions or warranties
are excluded to the fullest extent permitted by law
9.2 The Auctioneers may at their discretion or upon the instruction of the vendor alter or withdraw all or any lots referred
to in the auction catalogue up to the moment at which the hammer falls in relation to such lot(s)

10. AUCTIONEERS’ RIGHT TO ANNUL SALES
In the event of any dispute or refusal to pay or of non-payment on the part of the purchaser, the Auctioneers may,
entirely at their discretion, annul and cancel the sale of such lot or lots

11. COMPLIANCE WITH ROAD TRAFFIC ACTS
The purchaser of any vehicle or trailer is responsible for complying with all legal requirements as to the construction
and the use of such vehicle or trailer and for obtaining all certificates, permits or other authorisations necessary
before such vehicle or trailer can be used on the road

12. HEALTH AND SAFETY AT WORK ACT 1974 AND ALL OTHER ACTS AND REGULATIONS APPLICABLE TO FARM
SAFETY
The purchaser of any lots is responsible for complying with all legal requirements as to the safe use of lots purchased
at the Sale and shall ensure compliance with all relevant legislation relating to the safe use of such lots

13. RESERVATION OF TITLE
13.1 If the Auctioneers allow the purchaser to remove the lot from the Saleground before the purchaser has made full
payment for the lot then title to the lot shall remain vested in the vendor
13.2 If the Auctioneers pay the vendor the price of the lot before the purchaser has paid the price to the Auctioneers title
to the lot shall pass from the vendor to the Auctioneers and shall remain with the Auctioneers until full payment has
been made by the purchaser to the Auctioneers, when title shall pass to the purchaser
13.3 Notwithstanding that the title has not passed to the purchaser all risk of damage to the lot shall pass to the purchaser
immediately upon sale (the fall of the hammer)
13.4 The purchaser shall until payment has been made in full keep the lot in good marketable condition and readily
identified and shall indemnify the vendor or the Auctioneers as the case may be for any damage
13.5 In the event of any sale by the purchaser of a lot before full payment has been made the purchaser shall hold the
proceeds of such sale on trust for the vendor or the Auctioneer (as the case may be) and shall pay such proceeds
into a separate identifiable bank account
13.6 At any time before the title to the lot has passed to the purchaser, the vendors or the Auctioneers (as the case may
be) including the Auctioneers acting as agents for the vendor, shall have the right to enter upon the purchasers
property for the purposes of recovering the lot

14.    ONLINE BIDDING

14.1 Bidders wishing to use the online bidding service are required to register prior to the sale.

14.2 A deposit of £2500 payable by credit or debit card is required upon registration

14.3 Deposits paid by credit card or Non UK debit cards will be subject to a 2% surcharge which is  NOT refundable.

14.4 Deposits will be credited against any purchases made and any balance refunded.

14.5 Any unused deposits will be refunded within 72 hours from closure of the auction

14.6 Any items purchased online will be subject to a 1% surcharge plus VAT

14.7 Cheffins accepts no liability whatsoever for any loss of the Online Bidding Service and the ability to bid.

15. GOVERNING LAW AND JURISDICTION
For the avoidance of doubt all contracts entered into between the purchaser and vendor and between either of them
and the auctioneers on the basis of these standard terms and conditions of business are governed by the laws of
England and Wales and the parties hereby submit to the non-exclusive jurisdiction of the English Courts