• The Auctioneer is Peter C Maskell, from Peter Maskell Auctions CC, 47 Ohrtmann Road, Willowton, Pietermaritzburg, 3200 Telephone 033-3971190
• The auction will commence at the published time and will not be delayed to allow any specific person or more persons to take part in the auction.
• No person shall bid unless he/she is registered as a prospective bidder before the start of the auction. As per sub-regulation 26 (2) of the CPA, every prospective bidder must, prior to the commencement of an auction, register his or her identity in the bidders' record', providing his or her positive identification, juristic registration documents, and proof of residence in terms of the Financial Intelligence Centre Act (FICA), No. 31 of 2001 published in Notice R1595 in Gazette 24176 of 20 December 2002. The FICA requirements for different categories of natural and juristic entities are contained in Annexure A herein.
• A deposit in an amount of General movable assets (i.e. office furniture and equipment) Buyer’s card deposit: R5,000.00; Vehicles ,trucks ,loader etc.: Buyer’s card deposit: R50,000.00 by EFT. Strictly NO CASH only EFT
• The bidder’s Record and Vendor’s roll may be inspected, free of charge, between 08.00 and 17.00 at the address referred to above. The Vendor’s roll prepared by Peter Maskell Auctions is final.
• The conduct of the auction shall be subject to the control of the auctioneer, who shall have the sole right to advance the bidding.
• If there is a dispute between the bidders, the decision by the auctioneer shall be final and binding.
• If the auctioneer makes a bone fide mistake in conducting the auction, the auctioneer shall be entitled to rectify the mistake.
• Timed Online Auction Notes:

- If a lot receives a bid within the last 10 min. it will remain open for an additional 10 min.

- If any further bidding occurs, the extension timer will reset to 10 min.

• - If no further bidding activity occurs, the lot closes when the timer runs out.
• This auction features Staggered ending times. Lots will not close at the same time. Each lot has a 1-minute interval.
• The sale is subject to confirmation.
• The Seller Reserves the Right to Accept or Reject Any Bids received on date of auction
• The Rules of Auction comply with Section 45 of the Consumer Protection Act, Act  68 of 2008 (“the Act”)
• The following provisions are brought to your attention: Section 45 sub section (1),(2) and (3) of the Act provides that:
• In this section, “auction” includes a sale in execution of or pursuant to a court order to the extent that the order contemplates that the sale is to be conducted by an auction.
• When goods 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.
• A sale by auction is complete when the auctioneers announce its completion by the fall of the hammer, or in any other customary manner and until that announcement is made, a bid may be retracted.
• The Rules of Auction comply with Section 45 of the Consumer Protection Act, Act 68 of 2008 (“the act”).
• Anyone that intends to bid at the auction must register his or her identity on the bidder’s record prior to the commencement of the auction and such registration must meet the requirements of FICA (Financial Intelligence Centre Act, 2001) in respect of the establishment and verification of identity of the person and the person must sign the registration entry.
• As per sub-regulation 26 (3) of the CPA, if a person intends to bid on behalf of another person or entity, he or she must produce a letter of authority expressly authorising him or her to bid on behalf of that person, and both that person and the person bidding on his or her behalf must meet the requirements of sub-regulation 26 (2) of the CPA. A draft letter of authority is provided herewith marked Annexure B.
• As per sub-regulation 26 (4) of the CPA, if a person intends to bid on behalf of a company, the letter of authority contemplated therein must appear on the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him or her to do so
• Peter Maskell Auctions CC operates a Trust Account and the proceeds of any sale of goods (less commission) that is not immediately paid to the seller, shall be deposited into the trust account for the benefit of the seller. The seller shall be entitled to the interest earned on the nett proceeds.
• Peter Maskell Auctions shall be entitled to withdraw any lot prior to it being knocked down and shall not be liable for damages suffered by any person as a result of the auction not being proceeded with.
• If a lot is sold subject to confirmation, the successful bidder shall not be entitled to withdraw his or her bid until the confirmation date being 4 days after date of auction (Not including weekends or holidays).
•  
• The purchase price is payable to Peter Maskell Auctions at the address above, in cash or bank guaranteed cheque, without deduction or set-off 24hours after the lot being knocked down to the successful bidder. The purchase price is exclusive of VAT, unless otherwise announced by the auctioneer. If the successful bidder fails to pay the purchase price as required in terms of the above, then the auctioneer shall have the discretion to declare the bid and any resulting sale to be void, and to re-auction the goods afresh.
• The seller retains ownership of all goods purchased until such time as payment has been made in full. Unless Peter Maskell Auctions consents, no lot may be removed until the purchase price is paid in full.
• As soon as the lot has been knocked down to the successful bidder, all risk in the lot shall be deemed to have passed to the purchaser. Peter Maskell Auctions are not responsible for any error or deficiency in description of the property. The purchaser is deemed to have seen and judged for himself.
• If the successful bidder is a company or close corporation, then the person signing these rules on behalf of the company or close corporation binds himself or herself in favour of Peter Maskell Auctions as surety and co-principal debtor with the successful bidder in solidum for the due fulfilment of the bidder’s obligations in terms of these rules.
• For the purpose of all the proceedings hereunder the parties consent to the jurisdiction of the Magistrate’s Court otherwise having jurisdiction under section 29 of the Magistrate’s Court Act of 1944 as amended notwithstanding that such proceedings are otherwise beyond jurisdiction, this clause shall be deemed to constitute the required written consent conferring jurisdiction upon the said Court pursuant to Section 45 of the Magistrate Court Act of 1944 as amended.

In the event of the Purchaser failing to pay the full purchase price of any lot within the prescribed time, or if he fails to comply with any other terms of the sale the Purchaser shall be liable for an amount not more than 10 (ten) percent of the total purchase price or the total cost of advertising and conducting an auction and such additional costs may have been reasonably incurred as disbursements pursuant to the auction whichever is the lesser in addition the auctioneers shall exercise a possessionary lien over all lots / goods of the Purchaser.

The Purchaser authorizes the Auctioneer to resell such lots for and on behalf of the Purchaser by public auction or private treaty sale. The Purchaser shall not be entitled to any further notice in this regard.

Should the Auctioneers resell any lot, the proceeds therefrom, after the deduction of any costs incurred by the Auctioneer, shall be credited to the original Seller's account. Any shortfall on the original purchase price bid by the Purchaser shall be the Seller's measure of damages flowing from the Purchaser's default and shall be payable by the Purchaser to the Seller or the Auctioneers on behalf of the Seller upon demand. Any excess shall be for the benefit of the Purchaser.

The Purchaser shall be bound by these Rules and all announcements made by the Auctioneer at the commencement of and during the sale, whether or not he is present at the time of making such announcements.

In the event of the Seller instituting legal proceedings against the Purchaser, the following provision shall apply :

Such proceedings may be at the election of the Seller or the Auctioneer be instituted in magistrate's court, having jurisdiction over the person of the Purchaser, in terms of Section 28 of the Magistrate's Court Act No. 32 of 1944, notwithstanding the fact that the claim of the value of the matter in dispute might exceed the jurisdiction of such magistrate's Court, and

The Seller shall be entitled to claim payment of the legal costs from the Purchaser on an attorney and client basis, and

The Purchaser shall be deemed to have selected and appointed as his domicilium citandi et executandi the address inserted by him / her on the buyer's card/s signed by him / her.

• A certificate issued under the hand of the Auctioneer setting forth the amount of the Purchaser's liability arising from and out of any sale by the Auctioneer shall constitute conclusive proof of such indebtedness by the Purchaser and shall further constitute a liquid document for the purpose of provisional sentence, summary judgment or otherwise.
• The purchaser or agent of the purchaser, being authorized by the purchaser , acknowledges and accepts that he /she enters the said site entirely at his/her own risk and that he/she waives all rights to claim , or seek other legal redress, against the auctioneer, seller or their agents, employees or mandataries, in respect of any loss , damage or injury suffered by him/her on the said site, no matter the nature of the said loss, damage or injuries and no matter the cause thereof , including the negligence of the said auctioneer, the seller and /or their agents, employees or mandataries, nothing at all excepted and further the purchaser or agent of the purchaser, indemnifies the auctioneer and seller and all their agents, employees and mandataries against any claims for losses, damage and injuries suffered by the purchaser’s or  agent’s employees, mandataries or contractors when on the seller’s site for such purposes on the same conditions and bases herein set out.
• For the purpose of these rules, including the giving of notices and the serving of legal process, Peter Maskell Auction chooses citandi et executandi (“Domicilium”) at 47 Ohrtmann Road, Willowton, Pietermaritzburg.           
• CONDITIONS OF SALE
   
  The auction sale shall commence by the Auctioneer announcing and identifying the property to be put up to auction (hereinafter referred to as “the lot”) and calling for offers (hereinafter referred to as “the bid”)
  • Deposit
  • The Auctioneer requires a deposit as listed hereunder from each respective bidder subject to the following conditions:
  • A deposit in an amount of General movable assets (i.e. office furniture and equipment) Buyer’s card deposit: R5,000.00; Vehicles ,trucks ,loader etc.: Buyer’s card deposit: R30,000.00 by EFT. Strictly NO CASH only EFT
• The deposit shall give the bidder the right to bid for each and every lot.
  The deposit is refundable should a lot not be knocked down to a bidder
  The deposit is not refundable once a lot is knocked down to a bidder, but shall be deemed incorporated in the lot price;
  The Auctioneer may, in its sole discretion, waive its right to claim a cash deposit from a purchaser.
   
  • Bidding
  • All bidding is to be regulated by the Auctioneers, as they in their sole discretion deem necessary;
  • Every bid shall constitute an offer to purchase the property for sale at the amount bid;
  • The highest accepted bidder to be the purchaser.
  • In the event of a dispute between two or more bidders, the lot may be put up again and resold, or the Auctioneer in its sole discretion may declare the purchaser;  
  • The Auctioneer`s decision in 2.4 above shall be final and bidding on all parties;
  • The Auctioneers:
  • reserve the right to refuse any bid without being obligated to give any reasons for such refusal.
  • shall have the right to withdraw any lot prior to it being knocked down, in which event the Auctioneer shall not be liable in damages for any cause whatsoever to any person by person of the sale not being proceeded with.
  • if the item is SOLD SUBJECT TO CONFIRMATION the PURCHASER shall not be entitled to WITHDRAW HIS/HER BID until date of confirmation
  • Timed Online Auction Notes:
  • If a lot receives a bid within the last 10 min. it will remain open for an additional 10 min.
  • If any further bidding occurs, the extension timer will reset to 10 min.
  • If no further bidding activity occurs, the lot closes when the timer runs out.
  • Purchase Price
  • The purchase price is payable-
  • in cash, without deduction or set-off;
  • to the Auctioneers at 47 Ohrtmann Road, Willowton, Pietermaritzburg.
  • Immediately after the lot is knocked down to the purchaser, failing which 10% for collection and interest 12% per annum will be charged.
•  
  • Delivery
  • The seller retains ownership of all goods purchased until such time as the payment cheque is honoured.
• Unless Auctioneer consents thereto, no lot may be removed until the purchase price is paid.
   
  • Risk
  • As soon as the lot has been knocked down to the purchaser all risk therein shall be deemed to have passed to the purchaser.
  • Public Announcement of Conditions
  • The purchaser acknowledges that the conditions of sale as read out in public at the onset of the auction:
  • Are applicable to the property at the auction, and;
  • The purchaser is bound thereby, whether or not he was present when the conditions were read out.
  • Auctioneers rights
  • The Auctioneer’s Vendu Roll is final.
  • Defects
  • All property is sold Voetstoets without any warranty or guarantee whatsoever, and neither the seller nor the Auctioneer shall be responsible for any latent or patent defect;
• The Auctioneers are not responsible for any error or deficiency in the description of the property. The purchaser is deemed to have seen and judged for himself.
  • Company / Close Corporation as Purchaser
  • Should the purchaser be a company or close corporation then the person signing the conditions on behalf of the company or close corporation hereby binds himself to the Auctioneer as surety and co-principal debtor of the Auctioneer with the purchaser in solidum for the due fulfillment of the conditions hereof and for payment of the purchase price.
  • Error in Sale
  • Should the Auctioneer commit any error in conducting the sale, such mistake should not be considered binding upon the parties, but be rectified by the Auctioneer.
  • Variation
  • Any variation, alteration, or addition to this agreement shall not be of any force or effect or legal validity unless reduced to writing and signed by the respective parties.
  • Magistrates Court Jurisdiction
  • For the purpose of all the proceedings hereunder the parties consent to the jurisdiction of the Magistrate Court otherwise having jurisdiction under Section 29 of the Magistrate Court Act of 1944 as amended notwithstanding that such proceedings are otherwise beyond jurisdiction. This clause shall be deemed to constitute the require written consent conferring jurisdiction upon the said Court pursuant to Section 45 of the Magistrate Court Act of 1944 as amended.
  • Joint and Several Liability
  • Should there be more than one purchaser, the purchaser shall be liable jointly and severally and in solidum for the payment of all monies hereunder and for carrying out of all terms of this contract.
  • Cancellation
  • Should the purchaser fail to comply with any of the conditions of this sale and demand, the Auctioneer on behalf of the seller shall be entitled, without further notice, and without prejudice to any of the seller’s common law rights, either:
  • To cancel this agreement, retake possession of the property and sell the property again by auction or private treaty in his sole discretion. In this event the purchaser shall be liable for:
  • All costs which result therefrom and the Auctioneer’s commission to which the Auctioneer would have been entitled but for the cancellation and consequent resale; and
  • Any damages the Auctioneer may suffer as a result of the property realizing a lesser amount than that realized in the pursuance of the aforesaid cancelled agreement; or
  • To hold the purchaser bound by his purchase and to claim forthwith the payment of the whole purchase price.
  • Failure by the purchaser to pay and take delivery or remove the items purchased at auction does not exonerate the purchaser from the above conditions of sale.
  • Removal of goods purchased:
  • No movable articles purchased by the purchaser shall be removed from the site without the express consent of the auctioneer who shall provide a removal permit to the purchaser for such purpose.
  • It shall be the purchaser’s responsibility to dismantle or demolish and remove all immovable items, building structures, or other articles purchased at the auction and to remove same from the site and in effecting the said demolition, dismantling or removal of goods and /or material, the purchaser and /or his /her contractor shall be subject to the Contractor’s Health and Safety Regulations of the Seller which the purchaser shall sign and which shall form part of these terms and conditions. Should dismantled items or demolished materials be left on site for later collection, the Seller nor the auctioneer shall be responsible for any loss of or damage to such goods and materials and the purchaser indemnifies the seller/auctioneer accordingly.
  • The purchaser accepts that should he/she damage a building or any permanent structure or articles or a movable asset when removing the goods purchased by himself/herself, he /she shall be liable in his/her capacity as the purchaser to restore or repair or make good any damage so caused and that the said repairs shall only be deemed to have been satisfactorily completed on the Seller has accepted same.
  • Further to above clauses ,the purchaser or agent of the purchaser, being authorized by the purchaser, acknowledges and accepts that having been given permission to enter the site of the auction and to participate therein and /or to dismantle or demolish fixtures or immovable articles and structures and to remove same from site, and recognizing that hazards exist on the said site and in respect of the said demolition and /or dismantling of such articles or structures and such removal, that  he /she enters the said site entirely at his/her own risk and that he/she waives all rights to claim , or seek other legal redress, against the auctioneer, seller or their agents , employees or mandataries, in respect of any loss , damage or injury suffered by him/her on the said site, no matter the nature of the said loss, damage or injuries and no matter the cause thereof , including the negligence of the said auctioneer, the seller and /or their agents, employees or mandataries, nothing at all excepted and further the purchaser or agent of the purchaser, indemnifies the auctioneer and seller and all their agents, employees and mandataries against any claims for losses, damage and injuries suffered by the purchaser’s or  agent’s employees, mandataries or contractors when on the seller’s site for such purposes on the same conditions and basis herein set out.
  • All assets purchased are to be removed from site no later than 7 (seven)days after date of auction.
  • Acknowledgement of the rules of the auction 
  • These Rules of Auction are the complete and final record of the terms and conditions governing all auctions conducted by Peter Maskell Auctions, and unless any specific warranties, undertakings or representations are set out herein, they are excluded.
  • The Rules of Auction in their entirety shall form the basis of the bidding and bargaining carried out between the auctioneer / online auction platform and the bidders and govern the rules of each sale so concluded.
  • As per sub-regulation 21 (8) (a) of the CPA, the Rules of Auction do not have to be read out or announced at the auction to be valid, as long as they were made available to the general public prior to the commencement of the auction, (a) at least 24 hours for movable assets, and (b) at least five (5) working days for immovable assets, either in printed format from the auctioneer's place of business or electronically from the auctioneer's website.
  • The act of not reading or announcing the Rules of Auction in their entirety prior to the commencement of the auction should in no way be construed as an omission or admission that the Rules of Auction are not applicable.
  • The act of registering for the auction, signing the bidders' participation form and participating in the auction by any bidder shall be taken as confirmation that the bidder has read, understood, and accepts to be bound by the Rules of Auction.
  • The auction and all matters connected with the auction including the Rules of Auction are governed by the laws of the Republic of South Africa and the bidder, including foreign bidders’ consent to the jurisdiction of South African courts.
  • For purposes of legal proceedings, the bidder shall be deemed to have selected and appointed as his or her domicilium citandi et executandi the address recorded by him or her on the bidder participation form upon registration.
  • Acknowledgement of Viewing Assets:
• The purchaser acknowledges that his or her offer to purchase, made on the auction is not subject to viewing. The purchaser acknowledges that all items are sold voetstoots and the onus is on the Purchaser to inspect all assets prior to the commencement of the auction. It has been recorded that the Purchaser is fully acquainted with goods and the Purchaser hereby indemnifies the Auctioneer or the Seller against any possible claim that may arise as a result of his or her failure to inspect the assets prior to the commencement of the auction.  
• FICA REQUIREMENTS 
   
  The requirements of the Financial Intelligence Centre Act (FICA) are applicable as follows:
   
  1.    Natural Persons 
  1.1. FICA requirements:
  •     Copy of South African Identity Document (ID) / Copy of Passport for Foreigners.
  •     Proof of residential address (less than 3 months old) Utility bills addressed to physical residential (mobile phone accounts not acceptable);
  •     South African Income Tax reference number, and;
  •     Confirmation marital status, i.e. ANC or COP.
  NB: Should you not have proof of residential address in your name, please complete an affidavit OR declaration form with the third party confirming that you share a residential address with them and provide the third party's proof of ID and proof of residential address.
   
  1.2. FICA requirements for married people:
  •     Marriage certificate – Community of property – Copy of spouse’s ID;
  •     Ante nuptial Contract – Copy of contract;
  •     Page 1 (and page 2 if necessary) reflecting the registered number and names of both parties, if your marriage is governed by the Laws of another country/state; and
  •     Name of the country/state governing your marriage, i.e., the country where the Seller was living at the time of the marriage with the intention of staying there permanently.
   
  2. Juristic Entities 
  2.1. FICA requirements:
  •     Person acting on behalf of juristic entities must comply with all the requirements for natural persons, and;
  •     All directors / members / trustees must also comply with all the requirements for natural persons.
   
  In addition to compliance with all the requirements for natural persons, the following documents must be attached:
  2.1.1. Companies/Close Corporations:
  •     Company CIPC Registration documents (CM1/CM22/CK1/CK2).
  •     Proof of business address (less than 3 months old).
  •     Copy of SARS document confirming Income Tax/VAT registration number of the company.
  •     Resolution on company letterhead, nominating the authorised signatory/representative to bid on the company's behalf.
  •     Copy of ID and proof of residential address (less than 3 months old) for the representative and director/s of the company.
   
  2.1.2. Trusts:
  •     Copy of Trust Deed or other founding document (Letters of Authority/Master's Certificate).
  •     Copy of ID, proof of residential address and contact particulars (less than 3 months) of each of the trustees and beneficiaries of the trust.
  •     Copy of ID(s) and proof of residential address and contact particulars of person(s) authorized to act on behalf of the Trust.
  •     Copy of SARS document confirming Income Tax/VAT registration number of the Trust.
  •     Resolution signed by all Trustees nominating authorised signatory/representative.
  •     Business Registration Notification Certificate (BRNC).
   
  2.1.3. Incorporated Entities (Clubs / Churches / NGO’s)
  •     Copy of document confirming list of all individuals who exercise control over the entity (Constitution or similar founding document).
  •     Proof of physical address for the entity (Less than months old).
  •     Copy of SARS document confirming Income Tax/VAT registration number for the entity (If applicable).
  •     Resolution signed by all individuals who exercise control over the entity nominating authorised signatory/representative.
  •     For the authorised signatory/representative and each member or partner, we require Copy of ID and proof of residential address (less than 3 months old).
  NB: Resolution to approve the purchase (and loan application, if applicable) taken before the Offer to Purchase was signed.  (The only exception is where it is a cash transaction and all the Trustees have signed the Offer to Purchase.)
   
  3.    Prescribed amounts for cash transaction reporting in terms of the Financial Intelligence Centre Act (Act 38 of 2001)
   
  3.1. Section 28B: Cash transaction above prescribed limit
  An accountable institution and a reporting institution must, within the prescribed period, report to the Centre the prescribed particulars concerning a transaction concluded with a client if in terms of the transaction an amount of cash in excess of the prescribed amount (b) is received by the accountable institution or reporting institution from the client, or from a person acting on behalf of the client, or from a person on whose behalf the client is acting.
   
  3.2. Regulation 22B: Prescribed amount for cash transaction reporting
  The prescribed amount of cash above which a transaction must be reported to the Centre under section 28 of the Act is R49 999.99 or an aggregate of smaller amounts which combine to come to this amount if it appears to the accountable institution or reporting institution concerned that the transaction involving those smaller amounts are linked to be considered fractions of one transaction.
                   
   
  ANNEXURE B: FORMAT OF LETTER OF AUTHORITY 
   
  If buying on behalf of a company:
  •     The information on this document should be transferred to company letterhead.
  •     Attach a certified copy of the Company Resolution authorising the said person to buy on behalf of the company.
   
  If buying on behalf of another individual:
  •     The information on this document should be transferred to a document and indicate they are buying on an individual’s behalf.
  •     Attach proof of identity of both parties.