General terms of business - Angermann & Lüders GmbH & Co. KG

Terms and conditions for auctions and sales

The terms and conditions for auctions and sales set out below shall govern the legal relationships between Angermann & Lüders GmbH & Co. KG (also referred to hereafter as the “Auctioneer”), the supplier of the goods to be sold (also referred to hereafter as the “Seller(s)”) and the persons submitting bids for the relevant goods in the auction (also referred to hereafter as the “Bidder(s)” or, as the case may be as the “Highest Bidder(s)”.

1. The auction takes place in the name of and for the account of the Seller.

2. The Auctioneer reserves the right only to admit to the auction as a bidder through the issue of a bid card such persons as have, in return for this bid card, paid an amount of up to EURO 1,000.00 as a deposit or – at the Auctioneer’s option – have deposited identity papers (e.g. identity card, passport, driving licence etc.) as surety. The Auctioneer is entitled to withhold the deposit or the pledged article at the end of the auction should he be entitled to receivables from the Bidder as a result of or in connection with the auction. Should the Auctioneer not be entitled to any receivables from the Bidder as a result of and in connection with the auction, he shall refund the deposit to the Bidder or return the article pledged.

3. a.) All objects offered for sale are used and in some cases show considerable signs of use. The opportunity exists to have the objects examined by an expert. The objects will be sold in the condition in which they are examined or could have been examined, also using the services of an expert. The Seller is not obliged to provide the objects free of defects of quality; no particular characteristics are agreed. The Seller does not assume any guarantee. Unless malicious deception is involved, liability for any kind of defect of quality is excluded. Unless malicious deception is involved, the Highest Bidder is not entitled to the rights provided for in §§ 437 ff of the German Civil Code (“BGB”).

b.) Information given in catalogues, such as for example technical data, measurements, year of production, or quantities are not binding. The Seller does not warrant the correctness of information given in the catalogue.

4. The highest bid offered will be accepted, should no higher offers have been received after higher offers have been called for on three occasions. Should two or more persons make one and the same offer simultaneously and the call for further offers is not heeded, the Highest Bidder shall be chosen by lot. Necessary minimum bids will be established by the Auctioneer.

5. The Auctioneer has the right to change the order in which items appear in the auction catalogue, to separate, combine or withdraw numbers, to grant acceptance of a bid subject to reservation or to decline offers which are regarded as too low. Should a bid be accepted subject to reservation, this shall not entail the right to acquire the object. The bidder remains bound by his offer for a period of 48 hours or for a mutually agreed period of time from the time that he made his bid.

6. Should doubts exist on the validity of the highest offer, in particular should the highest bidder not allow his bid to stand or should doubt exist on the bid accepted, the Auctioneer’s decision alone shall be binding, to which decision the bidders taking part in the auction subject themselves by their participation in the auction. The Auctioneer may annul the acceptance of a bid and open the object to renewed bidding.

7. Acceptance of a bid commits the Bidder to accept the object auctioned and to pay the purchase price to the Auctioneer. Possession and risk pass directly to the Highest Bidder with the acceptance of the bid. Title will not be transferred to the Highest Bidder until the purchase price has been paid in full.

8. A Bidder who purchases on behalf of a client is liable as principle debtor in addition to his client.

9. A commission of 18% of the highest bid is payable by the Highest Bidder to the Auctioneer. The highest bid or purchase price on the one hand and the commission on the other shall be understood as subject to the addition of VAT at the rate currently applicable. The payment of the purchase price, commission and the VAT due (collectively referred to hereafter as the “Payment Obligation”) are payable to the Auctioneer on the day that the highest bid is accepted. The payment shall be made in cash or by a cheque confirmed by a bank (also by a simple clearance cheque, if this is agreed beforehand), whereby the bank’s confirmation may not include the bank’s customary reservations. The decision as to whether or not the bank’s confirmation complies with these requirements is at the absolute discretion of the Auctioneer. In the event of payment by cheque, the Auctioneer may require that the object successfully bid for may not be dismantled and taken away until value for the full amount of the cheque has been received on the Auctioneer’s bank account. The Auctioneer may approve the immediate transport of the object purchased should the purchaser pay by a cheque confirmed by a bank. Should Highest Bidders from abroad be unable to pay the whole amount locally, the Auctioneer may at his absolute discretion demand a payment on account equal to at least 20 % of the amount due. In such a case the rest of the payment shall be made immediately by credit transfer.

10. Highest Bidders from countries which do not belong to the EU are required to pay the VAT initially to the Auctioneer as a deposit. The VAT will be refunded after presentation of properly stamped original documents documenting that the export has taken place. Sales to Bidders from countries within the EU may only be relieved of VAT on presentation of the officially authenticated VAT Identification Number.

11. Invoices issued on the day of the auction and after the sale will be issued subject to special subsequent examination and possible correction. Errors excepted.

12. Should the Highest Bidder refuse to accept the goods successfully bid for or refuse to honour the payment obligation or be in arrears with this payment, the payment obligation shall be subject to interest from the day on which the refusal to pay is made or from the day that payment becomes overdue at the rate of 8% above the base rate of the European Central bank (see § 247 section 1 page 3 of the German Civil Code), even when cheques have been issued or accepted. In any event the Auctioneer may at his option demand either the fulfilment of the Highest Bidder’s obligations according to the purchase contract or compensation on account of non-fulfilment. He may dismantle and store the objects bid for at the Highest Bidder’s expense and risk.

13. Should the Highest Bidder finally and seriously refuse payment of the purchase price to the Auctioneer or the Seller, the Auctioneer may submit the object successfully bid for auction again. The same shall apply should the Highest Bidder wholly or partially fail to fulfil his payment obligation within a period of five bank working days (Frankfurt/Main) after having received a written reminder sent off after the due date of the payment. The initial Highest Bidder shall not be permitted to enter a bid at a new auction and shall remain liable for any reduction in the price realised and shall have no claim to a higher price. Netting of claims is excluded, unless the netted claims are undisputed or have been established in law.

14. Transportation and dismantling of the objects successfully bid for occur at the Highest Bidder’s expense and risk. The Highest Bidder is liable for damage incurred to the Seller’s property in dismantling or transporting the goods. The Auctioneer reserves the right to levy deposits on objects auctioned, the dismantling or transportation of which may cause damage to the buildings and/or to other property of third parties.

15. Access to the Seller’s land for the purpose of examining the goods or participating at an auction shall occur at the visitor’s own risk.

a.) The following shall apply to all entrepreneurs within the meaning of § 14 section 1 of the German Civil Code and all legal entities: the Auctioneer is liable - irrespective of the legal justification – only in cases of intent and gross negligence. This shall not apply in the event of infringement by the Auctioneer of those contractual obligations the fulfilment of which makes possible the proper performance of the contract and on whose compliance the contractual partner regularly relies and may rely (essential obligations). Liability in the case of gross negligence and the infringement through negligence of essential contractual obligations shall be limited to typical and foreseeable damage.

b.) Section 13 a shall apply as appropriate to all consumers within the meaning of § 13 of the Civil Code, subject to the proviso that the Auctioneer’s liability in cases of injury to life, limb and health is neither excluded nor limited.

16. The above conditions shall also apply to all goods offered for sale which are purchased without prior inspection after the auction or sold by private treaty.

17. The agreed place of fulfilment and mandatory legal venue is the Free and Hanseatic City of Hamburg.

ANGERMANN & LÜDERS GMBH & CO. KG Sworn and publicly appointed Auctioneer and Appraiser of Machines and Industrial Equipment ABC Straße 35, 20354 Hamburg

 
 

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