The Spring Sale 16th May 201216. Buyer's PremiumThe Buyer shall pay the Buyer's Premium to SAL and the Buyer acknowledges that SAL may also receive the Seller's Commission due to SAL under Clause 10.17. Payment17.1 Once a lot is sold, the Purchase Price shall become immediately payable to SAL.17.2 Full payment for all Lots must be made to SAL by 5:00pm the next Working Day. Payment may be made in pounds sterling by telegraphic transfer or debit card. Where the Buyer wishes to pay by cheque and SAL has agreed that the Buyer may do so, the Lot will not be released until the cheque has been cleared. 17.3 No Lot may be collected until the Purchase Price has been received by SAL and payments by a Buyer to SAL may be applied by SAL towards any such sums due from that Buyer to SAL on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied.17.4 Title to the Lot will pass to the Buyer only when the Purchase Price in cleared funds has been received by SAL.17.5 Immediately a Lot is sold the risk shall pass to the Buyer notwithstanding that possession will not be given and title will not pass to the Buyer before payment of the Purchase Price and SAL will not be responsible for any damage to or the loss or destruction of the Lot or any injury, loss or damage caused by the Lot unless caused by the negligence of or other breach of duty by SAL, its employees or agents in the ordinary course of their duties to SAL. The Buyer will compensate SAL in full in respect of all claims and proceedings brought against SAL in respect of any loss or damage to the Lot or injury, loss or damage caused by it not arising from the negligence of other breach of duty by SAL its employees or agents in the ordinary course of their duties to SAL.17.6 The Buyer shall, at his own expense, remove the Lot purchased but not before payment in full to SAL of the Purchase Price whether in respect of this or any other Lot.18. Responsibility for Purchased Lots18.1 The Buyer will be responsible for loss or damage to a Lot purchased by him from the fall of the hammer. Neither SAL nor its employees or agents shall be responsible for any loss or damage unless caused by the negligence of SAL, its employees or agents in the ordinary course of their duties to SAL while the Lot is in SAL's custody or under its control.18.2 The Buyer shall be responsible for all removals, insurance, storage and other charges on any Lot from the fall of the hammer (in accordance with Clause 11).19. Non-payment or Failure to Collect19.1 If the Purchase Price is not paid in full, SAL as the agent of the Seller, shall in its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following remedies:-19.1.1 to remove, store (either at SAL's premises or elsewhere) and insure the Lot at the expense of the Buyer;19.1.2 to charge interest at a daily rate equal to 4% pa over Barclays Bank's Base Rate on so much of the total amount due as remains unpaid after the date of and time referred to in clause 17.2;19.1.3 to retain that or any Lot sold to the same Buyer at the same or any other auction of SAL and to release it only after payment of the total amount due;19.1.4 to apply any money due or to become due to the defaulting Buyer in or towards settlement of the total amount due and to exercise a charge or lien on any property of the Buyer which is in SAL's possession for any purpose.19.1.5 take such steps as SAL shall at its absolute discretion consider necessary to collect the monies due from the Buyer, and to agree terms for the payment of the Purchase Price;19.1.6 to rescind the sale and refund any monies to the Buyer, or to rescind the sale to the Buyer and to purchase the Lot itself. If it does so, property in the Lot shall pass to SAL on its election and SAL shall remit the Purchase Price to the Seller within 14 Working Days of its election less the Seller's Commission, Expenses and sums due to SAL which would have been payable had the contract not been rescinded;19.1.7 to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this clause 19, and the Seller hereby authorises SAL to take any of the courses referred to in this clause, including the issue and prosecution of proceedings on the Seller's behalf, and to settle claims and/or proceedings made by or against the Buyer on such terms as the Seller shall instruct, or in the absence of instruction s on such terms as SAL shall at its absolute discretion think fit.19.2 If the Buyer fails to make payment within 14 days after the date and time referred to in clause 17.2, SAL shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to re-sell the Lot or cause it to be resold by public auction or private sale, and, if this results in a lower price being obtained, the defaulting Buyer shall then pay to SAL any deficiency, together with re-sale costs and any costs incurred in connection with the Buyer's failure to make payment and any surplus shall belong to the Seller.19.3 If the Lot is not taken away on the date and time referred to in clause 17.2, whether or not the Purchase Price has been paid, SAL shall remove, store (either at SAL's premises or elsewhere) and insure the Lot at the expense of the Buyer and only release the Lot after payment of the total amount due.20. Liability of SAL and the Seller20.1 Buyers are solely responsible for ensuring that Motor Vehicles are safe for use, roadworthy (if a road going car) and comply with all relevant laws and regulations in force in all relevant jurisdictions and for ensuring that any necessary test certificates are in force It is the responsibility of the Buyer to carry out such inspection as he thinks necessary.20.2 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation made to him by SAL, its employees or agents.21. Governing LawAny transactions to which the Terms apply shall be governed by English Law and the Courts of England shall have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Terms relate or apply. 22. Notices22.1 Any shall be deemed to have been received:- 22.1.1 if hand-delivered, at the time of delivery;22.1.2 if sent by mail, two days after the date of posting.22.2 In proving service by delivery:-22.2.1 by hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee;22.2.2 by post, it shall be necessary only to prove that the notice was contained in a pre-paid envelope which was duly addressed and posted first class. 23. Data Protection 23.1 All information provided to SAL will be treated confidentially and shall not be passed to third parties, except where necessary to complete a sale transaction.23.2 SAL reserves the right to pass on information when required by legislation, government authorities or the courts.23.3 SAL shall also have the right to use any personal information to notify you of further auctions and future events, unless you notify us that you do not consent to receive notifications of future events.117

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