Vendor Terms & Conditions
The following “Vendor Terms & Conditions” set out the terms and conditions by which Lloyds Auctioneers and Valuers Pty Ltd (Lloyds) allows you to sell via Lloyds.
When you register as a vendor, provide goods or services to Lloyds to auction, you acknowledge that you have read and agree to these Vendor terms & conditions.
We strongly advise you to read these Vendor Terms and Conditions carefully before providing any goods or services to sell at auction via Lloyds so you are aware of the terms and conditions which govern those actions and auctions, at that time.
Lloyds may, from time to time, be required by law, industry standard or company policy to update and amend this Vendor Terms & Conditions page. These changes will be updated on the Lloyds Website and will take effect, automatically and immediately, from the time of publication of this Vendor Terms & Conditions page on the Lloyds Website. By continuing to use this Website, by suppling products or services to sell on Auction via Lloyds, you are taken to have accepted the terms of the Vendor Terms & Conditions page. We strongly recommend that you acquaint yourself with this Vendor Terms & Conditions page on a regular basis and prior to taking any action on the Lloyds Website or providing products or services to sell via auction at Lloyds.
· Client” means Client 1 and Client 2 as stated on the Form 9.
· “Licensee” means Lloyds Auctioneers & Valuers Pty Ltd A.B.N 20 109 191 095 (Lloyds).
· “Buyer” means the purchaser of any asset(s) provided by the Client to Lloyds for auction by Lloyds.
· “Buyers’ Premium” means the amount payable to the chattel auctioneer by a buyer on the purchase of goods, as set out in Part 7 of the Form 9.
1. The Client warrants that they are the sole and unencumbered owner of, and has good title to, the asset(s) submitted for auction with all charges, liens, Government or Statutory fees, taxes and duties on the asset(s) paid by the Client and indemnifies Lloyds against any claim or demand of any person or Government Authority or Statutory Body whatsoever in respect thereof.
2. The Client must provide accurate descriptions of the asset(s) provided by the Client. The Client indemnifies Lloyds for any loss caused because of Lloyds’ reliance on any incorrect information or Asset(s) descriptions provided by the Client.
3. The Client indemnifies Lloyds for any loss caused to Lloyds because of the breach of these terms and conditions, including legal fees, debt collection costs and associated disbursements incurred by Lloyds on the indemnity basis in remedying any loss caused by the breach of these terms and conditions by the Client.
4. If there is a breach of these terms and conditions by the Client, Lloyds may refund the Buyer and return the asset(s) to the Client. Lloyds will then be entitled to recover all legal fees, handling costs, transport to return the asset(s), liaising expenses and other costs incurred because of the breach by the Client on an indemnity basis. Lloyds will also be entitled to recover any commissions, fees, charges, legal fees, debt collection costs and associated disbursements on the indemnity basis, which Lloyds was to be paid by the Client and/or the Buyer had that terms and conditions not been breached by the Client. Lloyds may also seek to withhold and recover such funds from current or future sales of other Client assets set for auction or being auctioned by Lloyds.
5. Transport and handling costs are the sole responsibility of the Client unless otherwise agreed in writing with Lloyds. If suitable and authorised by the Client, Lloyds will deduct the cost of transport and handling from the proceeds of sale at the agreed price.
6. The Client is responsible for delivering the Asset(s) to Lloyds in their best possible sales condition, including if applicable, a charged working battery, at least ¼ tank of fuel, presentable interior, and presentable exterior condition. Should the Asset(s) be delivered not adhering to the above terms, Lloyds will rectify the condition of the Asset(s) and charge the Client the associated costs involved irrespective of whether the asset(s) is/are sold.
7. The Client agrees that any vehicle Asset(s) delivered to Lloyds for auction may, at the discretion of Lloyds, be subject to a State Government approved safety certificate or standard vehicle inspection before the Auction by a third-party licensed and insured inspector. The inspection will include public road testing of the vehicle. The report of the inspection or safety certificate may be made available on the Lloyds Auctions website before the Auction. Any damage to the vehicle occurring during the inspection process will be the sole financial responsibility of the third-party inspector undertaking the inspection. The Client agrees not to hold Lloyds liable in any way for any damage or claims whatsoever or howsoever arising from any such inspection being undertaken.
8. It is an express condition on submitting asset(s) to auction that the Client is not to bid on their own asset(s) or instruct others to bid on their auction asset(s). Should the Client be found to be engaging in this activity, the asset(s) may be withdrawn from auction and the Client will be liable to pay the full sales commission and buyer’s premium on the reserve price or current market value, whichever is higher. The Client also agrees that it will be responsible for paying Lloyds legal fees, debt collection costs and any other associated disbursements on the indemnity basis, which may be incurred by Lloyds in enforcing its claim for the full sales commission and buyer’s premium.
9. All assets are stored by Lloyds at the risk of the Client until the asset is sold, settled, or returned. The Client is responsible for insurance on goods in transit and which are stored at any of Lloyd’s premises. The Client is advised not to cancel their own insurance policy for their asset(s) until such time as each asset has been sold, settled, or returned to Client.
10. Upon the asset being returned to the Client, whether due to Lloyd’s non-sale at auction, non-completion of the sale by the buyer, at the Client’s request or because of any breach of these terms and conditions by the Client, the Client agrees that if a sale is completed with another Buyer within the exclusive 90-day period from the first Lloyds auction date for that asset, the full sales commission and buyer’s premium on the reserve or current market value, whichever is higher, will be payable to Lloyds.
11. The Client takes sole responsibility for disclosing to Lloyds all known mechanical and other faults, defects, damage, or modifications to the asset(s) provided to Lloyds. The Client indemnifies Lloyds to the effect that Lloyds is not held responsible nor liable for the outcome of any accident involving the Asset(s). The Client indemnifies Lloyds for all damage to other assets or property arising from any faults or safety issues with the Client’s Asset(s).
12. There are no fees for asset storage at any Lloyds premises / location unless Lloyds advises the Client of an unsuccessful sale and requests collection of the unsold asset(s). Should a ‘return to vendor’ collection request be made to the Client, and an asset is not collected within the 7 days of the request, Lloyds will charge the Client a storage fee for each uncollected asset until collection by the Client, calculated at a rate of $22.00 (including GST) per day. This fee will begin on the 8th day after the request for collection.
13.Should the Client leave their asset(s) at Lloyds and not communicate with Lloyds for over 60 days, Lloyds reserves the right to sell the Client’s asset(s) unreserved at a public Auction, recouping any outstanding costs, fees, charges, legal fees, and communication costs from the sale, with remaining funds held in trust until they can be legally transferred to the client, client beneficiaries, or the State based Public Trustee.
14. Any vehicle asset(s) presented by the Client as ‘Matching Numbers’ must be deemed to have the original engine, driveline, vehicle body and ID tags. Should the claims that the vehicle asset(s) are ‘Matching Numbers’ be found to be untrue or incorrect in any way shape or form, the ‘as is where is’ auction clause is negated. Lloyds also reserves the right to instruct the Client to collect their vehicle should such claims be made, while the commission and buyer’s premium will remain payable to Lloyds.
15. Once the buyer’s cleared funds have been deposited in the Lloyds Auctions Trust Account, the Client accepts that the buyer will be entitled to collect the asset, possibly before funds raised at auction for the asset are provided to the Client from the Lloyds Trust Account.
16. All assets accepted will be sorted & sold in a manner determined entirely at the discretion of Lloyds, with Lloyds endeavoring to achieve the best sale outcome for the asset(s).