AUCTIONS TERMS & CONDITIONS

1. DEPOSIT
1.1. R25,000 (Twenty-Five Thousand Rand) for Machinery & Agricultural Equipment.
1.2. R50,000 (Fifty Thousand Rand) for Trucks, Trailers & Earthmoving Equipment and Heavy Machinery.
1.3. Deposits are payable via EFT and refundable after the Auction if no purchases were made. The deposit shall be forfeited by the purchaser if he/she fails to comply with the Terms and Conditions of the Auction.
1.4. Please note that refunds will only be refunded into the bank account where the deposit was paid from once proof of payment and confirmation of account has been received.
1.5 Due to the high increase of fraudulent activities, we hereby require a secondary confirmation with regards to the confirmation of banking details for all refunds.

2. FICA
2.1. No vehicles, goods or NATIS Documents will be dispatched without:
2.1.1. Copy of ID
2.1.2. Proof of address not older than 3 months
2.1.3. Copy of company documents

3. PAYMENT
3.1. All purchases are to be paid in full by CONCLUSION OF SALE on CLOSE OF AUCTION by EFT. No goods shall be released if funds are not cleared in TTG Auction’s bank accounts. Cash deposits into our bank account will be charged at the Bank Rate for cash handling fee. An extra R250 per item per day storage fee will be charged on late collections. Finance clients will be required to pay a 10% deposit of the total value of items being financed by close of sale. Please note, assets sold on auction are not subject to finance or loan approval and the sale will not be cancelled.

4. BUYERS PREMIUM
4.1. The buyer will pay to the Auctioneer a premium of 10% plus VAT on the “fall of the Hammer” price. The premium is not negotiable and is payable by all purchasers. The Auctioneer may also receive commission from the seller.

5. VAT
5.1. All bids exclude VAT. 15% VAT will be charged on all goods purchased, unless otherwise stated, which will be added to the buyers’ invoice.

6. VEHICLE PROCESSING FEE
6.1. There will be a R2,000 plus VAT, Natis processing fee charged per relevant Asset. TTG Auctioneers will only submit Natis Documents to be dealer stocked after payment is received in full and will be available to the buyer depending on the availability by the Natis Authorities. Kindly note that the Natis Authority is a Government Department.
6.2 Please note, upon submitting for licensing and registration into the new owner’s name, these costs are for you, as the new owner. Should the licensing department say that a road worthy is required, this cost is also payable by you as the new owner. Please note that not all assets require a road worthy, and this is determined by the licensing department.

7. RESERVES
7.1. Certain supplemented movable assets may be auctioned by reserve prices. In these circumstances the auctioneer will conduct the auction as prescribed in the Terms and Conditions. TTG Auctions reserves the right to bid on behalf of the seller up to the reserve price.

8. DISPATCHING TIMES & RELEASES
8.1. There will be no dispatching of goods during the Auction sale – No exceptions will be made. All purchases are removed at the buyer’s exclusive risk. Dispatching times are from the day after the close of the auction (excluding weekends), on the condition that the invoice has been settled in full and all documents (FICA, NCO, etc) are in order.
8.2. An extra R250 per item per day storage fee will be charged on late collections.
8.3. TTG Auctions is able to provide assistance, whenever possible, in facilitating the release of assets. Nevertheless, it is the Buyer’s duty to make the required arrangements for such assistance prior to collection.
8.4. If purchased goods are not removed by the Purchaser once the goods are ready for collection, all risks, including that of theft and damage, but not limited thereto, shall pass to the Purchaser. The Purchaser shall have no claim against TTG Auctions for any damages whatsoever. Each and every lot will be sold as is, where is, with no guarantees or warranties, expressed or implied. All
information regarding the lots in the buyers’ guide are statements of opinion only and shall never imply any guarantee as to the correctness or completeness of any information supplied either verbally or in writing about any lot.

9. CONDITIONS FOR THE SALE OF MOVABLE ASSETS BY AUCTION
9.1. TTG Auctions shall have the right to control, regulate and record the auction. The recording of the auction shall be prima facie proof of the auction proceedings.
9.2. TTG Auctions may, without penalty or prior notice, withdraw any item(s) from any group of assets (“lots”) on auction at any time before the sale thereof. In respect of all lots offered for sale at the auction the highest accepted bidder therefore shall be the Purchaser. In the event of a dispute TTG Auctions may elect to appoint the Purchaser or to re-auction the lots. TTG Auction’s decision shall be final and binding in this regard. Special Conditions pertaining to each auction, and/or to any of the lots shall be announced prior to the commencement of, or during the auction, or contained in the Buyers Guide applicable to each auction. The Terms and Conditions as contained in the Buyers Guide shall form part of the Terms and Conditions hereof, as if contained herein, and the Purchaser/Bidder hereby agrees to be bound thereto. The Purchaser shall be bound by all the Terms and Conditions specified during the announcements irrespective of whether he is present at the time of such announcements are made. On the fall of the hammer each sale shall be finally and irrevocably concluded, subject only to such suspensive Conditions as may be applicable to the lots. Risk in and to the lots sold shall pass to the Purchaser on the fall of the hammer irrespective of any Terms contained in the Buyers Guide, herein and announced at the auction, if the Terms are contradicting hereto. All sales are “Voetstoots” and the Purchaser shall be irrevocably deemed to have inspected and examined the lots and have noted all condition and state thereof. Neither the Seller of the lots nor TTG Auctions give any warranties or guarantees or make any representation in regard to the condition or state of any of the lots. The Bidder hereby acknowledges no warranties and representation has been made to him. TTG Auctions is not responsible for any errors of description of any of the lots.
9.3. All bids made at the auction are deemed to exclude VAT and Purchaser’s premium. The Purchaser shall not be entitled to take delivery of the lots until payment of the full purchase price has been made to TTG Auctions and the Purchaser is in possession of a “Paid Invoice”, provided that in the case of motor vehicles or other items requiring the completion and delivery of documents by the Seller or any third party TTG Auctions shall not be obliged to deliver such lots to the Purchaser until the relevant documentation, duly completed and signed has been delivered to TTG Auctions. The Purchaser shall not be entitled to cancel the sale as a result of non-delivery or non-signature of the required documents timeously. TTG Auctions shall be entitled, in TTG’s sole discretion, without penalty to cancel the sale should the required documents not be signed and delivered to TTG Auctions within 21 (twenty-one) days of the date on which the sale becomes unconditional. The Purchaser shall bear the risk in and to lots remaining at TTG’s premises in particular for any shortage or damage which may occur. The Purchaser shall remove the lots from auction premises within 7 (seven) days of the auction. In the event of any Purchaser failing to pay the full purchase price and Buyer premium, of any lots (the “Sale Price”) within the applicable time (as per the relevant announcement), failing to remove the lots as aforesaid, TTG Auctions shall have a lien over the lots and shall have the right to re-sell such lots without notice to the Purchaser. Should TTG re-sell such lots and should the net proceeds (after deducting commission for both auctions and all costs) be less than the Sale Price, the Purchaser shall forthwith upon demand pay to TTG Auctions as pre-estimated, liquidated damages such difference less any deposit forfeited.

9.4. TTG Auctions shall under no circumstances be liable to the Purchaser for any losses or damages suffered by the Purchaser as a result of the termination of any sale concluded in respect of any lots or the failure or inability of TTG Auctions to deliver any of the lots. The Purchaser chooses as domicillium citandi et executandi for all purposes arising herefrom the physical address reflected above. The Purchaser consents to the jurisdiction of the Magistrate’s Court. In the event of it becoming necessary for TTG Auctions to take any action against the Purchaser agrees to pay all the attendant costs and expenses incurred as between attorney and own client. The Purchaser consents to the jurisdiction on the Magistrate’s Court. However, in the event of a claim exceeding the jurisdiction of the Magistrate’s Court, TTG Auctions shall be entitled to institute an action in any competent division of the High Court of South Africa if it elects to do so. In the event of the Purchaser breaching any of the Terms and Conditions contained herein, the Purchaser agrees to pay TTG’s legal costs on an attorney/client scale should TTG Auctions institute action against the Purchaser. By signing this document, the signatory hereby cedes, assigns, transfers, and makes over unto and in favour of the Seller and/or the auctioneer his/her/its right title and interest to all his/her/its movable property an if necessary immovable property registered in his/her/its name, such as is sufficient to satisfy his/her/its indebtedness to the seller and to the auctioneer. To this end the signatory hereby authorises the sheriff of the High Court or his deputy in the jurisdiction of the High Court in which the goods in question were sold in Terms of the auction, to act on his/her/its behalf in rem suam and if necessary to sign all necessary documentation for and on his/her/its behalf necessary to give effect to this clause and the Terms and Conditions set out herein. In the event of the signatory opposing any legal proceedings instituted in Terms of this clause, any cost order obtained against the signatory in any court of law shall be on the scale as between attorney and own client. Save for the announcements referred to above and Terms and Conditions contained in the Buyers Guide, no variations or amendments hereto shall be of any force of effect unless reduced in writing and signed by both parties. No indulgence which TTG Auctions may grant to the Purchaser shall prejudice or constitute a waiver of the rights of TTG Auctions or the seller who shall not thereby be precluded from exercising any rights against the Purchaser which may have arisen in the past or might arise in the future.

10. SURETY
10.1. The signatory to this agreement binds himself/herself as surety and co-principal debtor together with the company, close corporation, trust, association, or any other entity reflected as “company” and “principal debtor” on the face of the Terms and Conditions set forth more fully above for the due fulfilment by the principal debtor of all the principal debtor’s obligations and liabilities arising out of the sale of any goods to the principal debtor. In this regard the signatory as surety and co-principal debtor renounces the legal exceptions of excursion and division, non numeratae pecuniae, non causa debiti, errore calculi no value received and revision of account with which the signatory hereto is fully acquainted and understand.

11. RULES OF CONDUCT FOR VISITORS AND CUSTOMERS
11.1. Both visitors and customers of TTG Auctions agree that they will not transmit submissions to the TTG Auctions website that:
11.1.1. Use any of the forms for illegal purposes;
11.1.2. Has malicious intent;
11.1.3. Is unlawful, threatening, defamatory or with any other intention which is not in line with TTG’s business;
11.1.4. Are not the true and correct details of the relevant visitor or customer;
11.2. A visitor or customer hereby indemnifies and holds TTG Auctions harmless against any and all claims for any damages whatsoever arising from the usage of TTG’s website;
11.3. Should the customer or visitor supply information, which is misleading, incorrect or has the intention to defraud TTG Auctions, such person / entity may be held criminally liable in terms of the Companies Act, 71 of 2008.

11.4. It is the customer or visitor’s responsibility to ensure that the details provided to TTG Auctions are both true and correct at all times as TTG Auctions shall not be liable for any expenses, costs or damages incurred as a result of incorrect details. It remains the customer or visitor’s responsibility to ensure that these details remain updated and correct.
11.5. A visitor or customer agrees that they make use of the TTG Auctions website at their own risk.
11.6. Upon registering on TTG’s website as a customer, he/she consents to receiving communications from TTG Auctions electronically.

12. GENERAL
12.1. TTG Auctions may at any time revise these terms and conditions by updating the postings from time to time, without notifying the customer or visitor. It is therefore the customer or visitor’s responsibility to continuously visit the agreement to review the current terms to which he/she is bound and will remain bound to any and all revisions.
12.2. Any rights to change any of features of TTG’s website shall vest solely in TTG Auctions.
12.3. TTG Auctions reserves the right to suspend any TTG Auctions customer’s account should it be expected that such customer is involved in any corrupt, illegal, or fraudulent activity linked to such TTG Auctions account.
12.4. This website is protected by security measures in order to protect the loss, misuse and alternation of the information under TTG’s control. TTG Auctions accordingly will take reasonable steps to ensure the safety of customers or visitors information.

13. PRIVACY
13.1. By signing the Terms and Conditions, such person / entity agrees that they have read the attached “Privacy Policy” (hereinafter referred to as the “Policy”) and consents and agrees to the terms as contained herein and authorizes TTG Auctions to process such information as set out therein and further authorizes TTG Auctions, its service providers and business partners to process such Personal Information for the purposes stated therein.
13.2. By visiting TTG Auctions site, you are expressly consenting to the collection and use by TTG Auctions of personally identifiable information according to the Policy.

13.3. It is agreed that TTG Auctions may use the customer or visitor’s IP address to assist with diagnosing problems with TTG’s server, and in order to administer TTG’s website.

14. ADMINISTRATION AND TERMS OF THIS AGREEMENT
14.1. For sake of convenience and in order to avoid repetitive buyers to fill out this registration form on each and every auction, it is agreed between the parties that this registration document will be valid until the 31st of December 2024.
14.2. The annual registration process of clients will take place as soon as possible in 2025.
14.3. The parties will consequently be bound of the terms of this registration document, until this registration document lapses.
14.4. TTG Auctions, however reserves the right to request a registered client to update such client’s FICA documentation every 3 (three) months.

15. POST-AUCTION POLICIES

15.1 No refunds or returns of any kind will be processed.
15.2 Items bought at auction may be sold again at future auctions.
15.3 After all final bids on the day of the auction, a 7-day grace period is allowed for items to be collected from our auction yard. Items not collected within these 7 days will incur a storage fee of R250 per day thereafter. If an item did not sell and is listed in the next upcoming auction, a storage fee will not be charged.