Terms & Conditions of Sale

1. DEFINITIONS

a. The following terms have the following meaning

i. “Auction Term” means (auction terms vary in length) generally 1-5 Business days from the date the Goods is placed up for auction by Cater Equip Auctions.

ii. “the Buyer” means a person who registers as a Buyer and uses the Service.

iii. “Buyer’s Fee” means 20% of the Sale Price for items below $1000 or 12% of the Sale Price for items sold over $1,000.

iv. “Financier” means Finance Solva or Silverchef Hospitality Equipment Funding and/or their successors in law.

v. “Payment Period” means 48 hours from the Buyer being notified that their bid was successful.

vi. “Payment Terms” means the terms described in clause 6 of these terms and conditions

vii. “Reserve Price” means a minimum selling price, as nominated by the Vendor, of goods sold through the Service.

viii. “Sale Price” means the sum of money the Buyer has bid and/or agreed to pay for the Goods.

ix. “the Service” means the service described in clause 3 of these terms and conditions.

x. “the Goods” means the item the Buyer has bid on or offered to buy through the Service.

xi. “Cater Equip Auctions” means Cater Equip Auctions Pty Ltd.

2. INTERPRETATION

a. Headings are for convenience only, and do not affect interpretation.

b. The following rules also apply in interpreting this document, except where the context makes it clear that a rule is not intended to apply, a reference to:

i. legislation (including subordinate legislation) is to that legislation as amended, re-enacted or replaced, and includes any subordinate legislation issued under it;

ii. a document or agreement, or a provision of a document or agreement, is to that document, agreement or provision as amended, supplemented, replaced or novated;

iii. a person includes any type of entity or body of persons, whether or not it is incorporated or has a separate legal identity, and any executor, Administrator or successor in title of the person.

iv. anything (including a right, obligation or concept) includes each part of it; and

v. a clause, paragraph, item or schedule is a reference to a clause, paragraph or item of, or schedule to, this document.

c. A singular word includes the plural, and vice versa.

d. A word which suggests one gender includes the other gender.

e. If a word is defined, another part of speech has a corresponding meaning.

f. If an example is given of anything (including a right, obligation or concept), such as by saying it includes something else, the example does not limit the scope of that thing.

3. THE SERVICE:

a. In consideration for the Buyer registering with Cater Equip Auctions, Cater Equip Auctions will provide the Buyer access to an online system where multiple buyers may place online bids on goods currently being auctioned by Cater Equip Auctions.

b. Cater Equip Auctions will electronically record all bids made through the system and the buyer who was offered to pay the highest amount above the Reserve Price for the auctioned goods will be determined as the successful bidder. Upon being determined as the successful bidder the Buyer is bound to pay the amount bid/offered together with Buyer’s Fee in exchange for ownership and possession of the Goods.

4. USE OF THE SERVICE:

a. The Buyer must not use the Service for any unlawful, illegal, deceitful or fraudulent activity. Cater Equip Auctions may suspend, terminate and/or prevent access to the Service in the event that Cater Equip Auctions reasonably suspects that a person has used the Service for any unlawful, illegal, is not required to provide a reason for doing so.

5. BUYER’S OBLIGATIONS AND WARRANTIES

a. The Buyer warrants and confirms that he/she is:

i. over the age of 18 years;

ii. not an undischarged bankrupt; and

iii. has the capacity and capability to enter into agreements.

b. The Buyer acknowledges that he/she is responsible for conducting his/her own investigations and due diligence into the Goods available through the Service. Proceeding to make a bid or purchase through the Service constitutes satisfaction of the investigations and due diligence conducted by the Buyer.

c. The Buyer acknowledges and accepts that all Vehicles are purchased on a “as is, where is” basis.

d. The Buyer is responsible to enforce any manufacturer’s warranty or liability.

e. Upon successfully winning the bid through the Service the Buyer agrees to pay the Sale Price pursuant to the Payment Terms.

f. The buyer will make his/her own arrangements to collect and take possession of the Goods and understand that neither Cater Equip Auctions nor the Vendor are required to deliver the Goods unless otherwise agreed in writing.

6. PAYMENT TERMS:

a. If the Buyer is successful in his/her bid to purchase the Goods through the service, the Buyer must make full payment of the Sale Price plus the Auction Fee within the Payment Period.

b. If the Buyer applies for finance through the Financier, and successfully obtains pre-approval, then the Payment Period will be suspended until such time as their application for finance has been processed or the sale is terminated by Cater Equip Auctions

c. If funds from either the Buyer or the Financier are not received within 48 hours from the date the Buyer’s bid was successful, then Cater Equip Auctions, in its sole discretion, may terminate the sale. In this event the Buyer will not be entitled to purchase the Goods.

7. OWNERSHIP

a. Ownership of the Goods and entitlement to possession of the Goods does not transfer from the Vendor or Cater Equip Auctions to the Buyer until the Sale Price plus the Buyer’s fee is received in full. To remove any doubt, a successful bid at an auction does not constitute an immediate entitlement to the Goods.

8. INDEMNITY AND RELEASE

a. The Buyer acknowledges and understands that Cater Equip Auctions may not be the owner of the Goods sold and does not make any warranty, representation or guarantee as to the condition, quality, functionality, fitness for purpose or lawful ownership of the Goods auctioned and/or sold through the Service.

b. The Buyer indemnifies, releases and forever holds harmless Cater Equip Auctions from any claim, action, loss, demand or costs arising out of the Goods auctioned and purchased through the Service.

c. The Buyer acknowledges and understands that Cater Equip Auctions does not offer finance itself and does not act or represent the Financier in any way whatsoever. The Buyer indemnifies, releases and forever holds harmless Cater Equip Auctions from any claim, action, loss, demand or costs arising out of the application and granting of finance from the financier.

9. ACCEPTANCE AND AMENDMENT

a. The use of the Service constitutes acceptance of these terms and conditions.

b. Upon acceptance of these terms and conditions by the Buyer the terms and conditions are binding and can only be amended by Cater Equip Auctions. Cater Equip Auctions may amend and alter these terms and conditions at any point in time. The amendments will take effect immediately. The Buyer’s continued use of the Service will constitute acceptance of any amendment made to the terms and conditions by Cater Equip Auctions.

10. GST

a. The Sale Price of all goods sold through the Service is inclusive of GST unless otherwise stated. All GST applicable to any goods sold through the service will be payable by the Buyer if required.

11. GENERAL

a. Any provision in these terms and conditions which is invalid or unenforceable in any jurisdiction is to be read down for the purposes of that jurisdiction, if possible, so as to be valid and enforceable, and is otherwise capable of being severed to the extent of the invalidity or unenforceability, without affecting the remaining provisions of these terms and conditions or affecting the validity or enforceability of that provision in any other jurisdiction.

b. The Buyer acknowledges that as the Service is online it is dependent upon the functionality of systems outside of Cater Equip Auctions’ control. In the event that a technical issue prevents the Service from operating correctly, the Buyer releases and forever holds harmless Cater Equip Auctions from any liability incurred or arising out of the online service failing or not functioning correctly.

c. These terms and conditions are governed by the laws of the State of Queensland.

d. These terms and conditions shall bind the parties, their heirs, executors and successors in law.

Please Note - Asset finish times may extend without notice in the final 5 mins of the Auction if bids are place within the final 5 minutes of ending.

This possible time extension will only pertain to the individual asset that is closing and not necessarily all assets during the sale.