![]() formation of contract for sale by auctionģ.1 If the Agent indicates that it is prepared to sell Goods by auction, such indication shall constitute an invitation to treat and not an offer to sell.ģ.2 By submitting a bid for the Goods ( Bid), the Buyer makes an offer to the Agent to purchase the Goods on these Terms and subject to any special conditions contained in the auction particulars ( Auction Particulars).ģ.3 The Buyer shall be the highest bidder at or above any reserve or upset price at the conclusion of the auction, at which point a contract for the sale and purchase of the Goods on these Terms and subject to any special conditions contained in the Auction Particulars shall come into existence between the Seller and the Buyer, subject to the Agent's right to reject Bids and to alter or withdraw Goods from auction under clause 5.ģ.4 If any reserve or upset price is not met in a sale by auction, the Agent shall be entitled in its absolute discretion to accept any Bid received which is below the reserve price, in which case the Buyer shall be the person who has submitted that Bid.ģ.5 The Buyer shall have no right to cancel a contract formed under this clause 3 except where the Buyer is a consumer (as defined in clause 10.1), in which case the Buyer shall be entitled to cancel the contract in accordance with its rights under the Consumer Contracts Regulations. ![]() Advice about the legal rights of consumers is available from the Buyer’s local Citizens’ Advice Bureau or Trading Standards office. More information about a consumer’s right to cancel the contract under the Consumer Contracts Regulations, as well as the procedure for cancelling the contract and the consequences of doing so, are set out in clause 10. formation of contract for sale by private treatyĢ.1 If the Agent indicates that it is prepared to sell Goods by private treaty, such indication shall constitute an invitation to treat and not an offer to sell.Ģ.2 When the Buyer makes an offer to the Agent to purchase the Goods by private treaty, such offer shall be deemed to be made on these Terms and subject to any special conditions contained in the particulars of sale ( Sale Particulars) or otherwise notified by the Agent to the Buyer in writing prior to the Buyer's offer being made or proposed in writing by the Buyer to the Agent as part of the offer.Ģ.3 The Agent may accept an offer verbally or in writing, at its option, at which point a contract shall come into existence between the Seller and the Buyer on these Terms and subject to any special conditions contained in the Sale Particulars.Ģ.4 The Buyer shall have no right to cancel a contract formed under this clause 2 except as permitted by the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 ( Consumer Contracts Regulations), which shall apply if the Buyer is a consumer (as defined in clause 10.1) and the contract is a ‘distance contract’ or an ‘off-premises contract’, as defined in Regulation 5 of the Consumer Contracts Regulations. The Company's registered office is at Prudential Tower, 800 Boylston Street, 27 th Floor, Boston, MA 02199, USA, and its principal place of business in the UK is at 3rd Floor, 13 Hanover Square, London W1S 1HN.ġ.2 These are the terms and conditions ( Terms) under which the Agent, acting in its capacity as agent for the seller ( Seller), sells equipment, plant, machinery and other goods ( Goods) by auction and private treaty to a buyer ( Buyer).ġ.3 Any contract of sale is made directly between the Seller and the Buyer and the Agent shall have no responsibility for the actions or omissions of the Seller, the Buyer or any other party.ġ.4 It is recommended that Buyers review these Terms carefully as they will, together with any special conditions notified to the Buyer, govern the relationship between the Agent, the Seller and the Buyer.ġ.5 The Buyer's attention is particularly drawn to clause 10, which sets out the Buyer's liability to the Agent and the Seller, and to clause13(consumers) and clause 14 (non-consumers), which set out the extent of the Agent's and the Seller's liability to the Buyer. 1.1 Gordon Brothers is the trading name of Gordon Brothers International LLC ( Agent), a Limited Liability Company incorporated under the laws of the State of Delaware, USA, and registered in England as a foreign company under number FC022279.
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