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AGRA TIMED AUCTIONS: POLICIES RULES FOR SELLER

The Agra Timed Auction platform offers a variety of options for selling your goods, services or items. The seller will enjoy the benefits of the Agra database, but at the same time be held responsible and liable for any and all information he provides. Disputes and difficulties arising from a lack of information or incorrect information provided or misrepresentation by the Seller will result in an unsuccessful sale.

  • The seller is obligated to be absolutely honest in his/her description of the goods, services or items to be listed. All descriptions should be accurate and true.
  • The seller will not during the mandate period, appoint or allow any other auctioneer or any other party to sell or undertake to sell the goods, services or items, nor will he or any other party be, on his behalf, entitled to sell the goods, services or items.
  • The seller will not do anything which might prevent, frustrate or hinder the Auctioneer from effectively making a sale of the goods, services or items in terms hereof. For purposes hereof, ‘prevent, frustrate or hinder’, shall, without in any way limiting the generality thereof, include:
    • A refusal by the seller to accept the bid acquired by Agra Timed Auction during the mandated period to purchase the goods, services or items on the terms herein.
    • The seller’s withdrawal of the goods, services or items from the market prior to the auction or mandated period.
    • The seller cancelling the sale for whatever reason after the auction upon which the highest bid has been offered, after the seller confirmed acceptance hereof.
  • The seller is responsible for the correct listing of their item/lot including but not limited to description, content, photos and any other information that will benefit a successful Sale.
  • It is crucial that the seller assist the Agra Timed Auction in maintaining an honest, correct and fair sale by not only providing a 100% correct description of the goods, services or items for sale, but to maintain the standard to which he described his services, products or items by upholding to the information during the auction period to ensure the Buyer buys what is advertised and displayed to him.
  • Agra Timed Auctions specifically focus on creating an expanding the marketplace for the Buyer to accommodate them in finding and buying items/lots that they like or want to acquire. Thus, making it essential for the listing to include content that will benefit the buyer;
    • The location of the buyer
    • Preferences made by the Buyer that will allow a successful transaction
    • The item’s information which includes but is not limited to location, listing information, price, history and relevance.
  • The seller is also responsible to assist Agra Timed Auctions in making it as easy as possible and convenient as possible by abiding by the terms and conditions and other policies in facilitating a successful sale.
  • The seller is also responsible for accommodating Buyers in assisting them to acquire the item/lot sold. The seller will agree to uphold his responsibility towards the item/lot until removed from the Sale venue.
  • No transaction will fully transpire unless all parties involved are happy and that the facilitation process is fully processed. Transactions will also only be finalised once all laws, acts, policies, terms and conditions, indemnities and waivers are adhered to.
  • No harassment or threatening inclination will be tolerated towards any user or Agra Timed Auctions.
  • The seller also agrees that he is the Sole and legal owner of any of the goods, services or items he puts up for sale and that the sale can be concluded successfully and that the title can be passed to the successful Buyer.
  • When you as the Seller provides with content, information or any other prerequisites for you goods, services or items, you agree to grant Agra Timed Auctions a non-exclusive, irrevocable, royalty-free, consistent, continuous, sublicensable right to exercise any and all copyright, publicity, trademarks, database rights and intellectual property rights you have in the content, information or prerequisites in any form of media currently applicable or in the future.
  • You also agree to authorise the use of calls or emails to allow communication relating to our services or otherwise to and at any of the phone numbers provided, including cell phone numbers that you have provided to us during registration or during your use of our service. You also consent to receiving sms’s periodically to inform you of our services.
  • Concerning returns of goods, services or items as a result of insufficient, inaccurate or misleading information, the responsibility for all costs involved will fall onto the Seller.
  • Sellers also agree that all information provided are in agreement with all applicable laws, government regulations or guidelines.
  • Sellers also agree that all information and depictions are not obscene or at all offensive to any party.
  • The Seller hereby warrants to Agra Timed Auctions and the Buyer that:
    • He is the legal and registered owner of the goods, services or items and is able, without any legal hindrance or impediment, to give transfer or offer the goods, services or items when requested to;
    • There are no servitudes or restrictive sale conditions registered against the services, goods or item unless otherwise stipulated.
    • hire purchase, bonds and/or other forms of agreements are declared
    • The goods, services or items has not been expropriated or untrustworthy in the case of services provided, nor has there been any threat of expropriation or an expropriation notice served or any legal action or admonition registered in respect thereof.
  • By listing items on Agra Timed Auctions, you agree to the terms and conditions stated in the above policy (Ref: Responsibility of the Seller). You also agree to give us an exclusive mandate for the period that the item is listed.

RULES FOR BUYERS

    The rules described and noted underneath are applicable to the buyer and provides a guideline for buying.

  • Agra Timed Auctions and other Agra Auction platforms provide an honest and fair marketplace that allows all parties to enjoy the benefits of an open market system that provides great exposure and competitive bidding and buying.
  • All bids and sales are final and binds the buyer to honour the commitments made. Any irregularities will be subject to arbitration.
  • Any violations of our policies will have to be dealt with in a professional manner. All parties will be subject to the same standards and same responsibilities. Disputes will be settled without any damages or difficulties for any party.
  • Agra Timed Auctions strive to simplify the process of bidding and will provide all parties with all the required information and requirements for all auction items. All items will be open to the registered public. All specific requirements related to an item will be indicated in order to enhance customer satisfaction. Please make sure to be fully informed on each product before you make a bid.
  • Buyers will ensure that all information provided by him will comply with the following conditions:
    • Personal information provided is correct, accurate and up to date.
    • Fraudulent information provided will be harshly dealt with and is subject to criminal procedures.
    • No third-party purchases will be admitted. Each Buyer has the responsibility to protect his username and password and will be liable for all bids made by him.
    • That information provided is in no way a breach of confidentiality of any third party.
    • Not be harassing towards any party including the Seller and on a different basis towards Agra Timed Auctions.
    • Does not breach any Intellectual Property Rights of a third party.
    • Agra Timed Auctions will not be responsible for any nor do we do any transfer of ownership from the Seller to the Buyer.
  • You are responsible for complying and understanding all laws concerning an international sale, purchase and services and shipment of countries and areas involved.

BUYER PROTECTION POLICY

Agra Timed Auctions value each and every Client (Seller and Buyer) and strive to implement a smooth and problem-free environment and marketplace. Agra Timed Auctions, however, institute the following regulations regarding the protection of Buyers;

  • Sellers are compelled to ensure that their goods, services or items are available to the Buyer within the agreed time period. Any and all irregularities will be reported to Agra Timed Auctions by the Buyer and will lead to a cancellation of the purchase.
  • Buyers will also be indemnified from completing said purchase in the following cases:
    • The description and information of said services, product or item is changed following the commencement of the auction or after the auction;
    • If the Seller has provided false, incorrect or inaccurate information and the Buyer is unable to authenticate the information of the Seller;
    • The Seller impedes with the successful purchase of the services, product or item in any way;
    • The Seller fails to deliver the services, goods or item to the Buyer by the date agreed upon by all parties.
  • Agra Timed Auctions are compelled to verify credentials of the Seller. Sellers agree that, in all cases they will verify the information and will also assist the Buyer to the fullest extent.
  • Sellers will agree to have all paperwork in place that includes but is not limited to a bill of sale, guarantees, registration information, deed of sale, service requirements, payment requirements, ownership and all other documents that are required for a successful sale of said goods, services or items.
  • At no time will a Buyer be required to make any payment directly to the seller. The buyer, winning the bid, will pay the agreed amount to Agra Timed Auctions upon receiving the invoice for with the goods, services or items acquired or bought, unless otherwise stated or required.
  • Payments to the seller will only be finalised if all parties are fully satisfied or if any problems or returns are fully resolved and/or finalised.
  • If the goods, services or items are not delivered, the Buyer can call in Agra Timed Auctions to resolve the issue. If the issue cannot be resolved, Agra Timed Auctions will then cancel the purchase and refund the Buyer. All parties will be notified.
  • Any goods, services or items received by the Buyer will be subject to inspection by the Buyer. In the case where said goods, services or items do not comply with the policies put in place by Agra Timed Auctions or the description given by the Seller, the goods, services or items can then be returned to the Seller and the Buyer will be refunded upon the Seller receiving the goods, services or items.
  • Upon successful payment, Sellers will be allocated with a time period of maximum 1 week in which to deliver the item, except for the following categories;
    • Properties
    • All vehicle types
    • Livestock or Game
    • Heavy Machinery
    • In the case where successful delivery could not take place, the transaction will become null and void, unless the Seller can verify that the transport was impossible and/or the time period was too short.

CLAIMS OR CANCELLATION OF PURCHASE

  • Claims will only be eligible once the cause for claims or cancellation of purchase can be determined and verified by an Agent from Agra.
  • You can not make more than one claim on one item or transaction.
  • Claims and cancellation of purchases can only be finalised once all parties are in agreement or, in case of a dispute regarding the transaction or purchase arise, once arbitration has been finalised.
  • Agra Timed Auctions will use its own discretion to determine what the cause of a claim or cancellation of purchase is. The process will be conducted in an honest and fair way and only when all parties are fully satisfied will it be finalised.

WARRANTIES BY THE SELLER

The Seller hereby warrants to Agra Timed Auctions and the Purchaser that:

  • He is the legal and registered owner of the goods, services or items and is able, without any legal hindrance or impediment, to give transfer or offer the goods, services or items when requested to;
  • There are no servitudes or restrictive sale conditions registered against the services, goods or item unless otherwise stipulated.
  • The goods, services or items has not been expropriated or untrustworthy in the case of services provided, nor has there been any threat of expropriation or an expropriation notice served or any legal action or admonition registered in respect thereof.

RELEASE AND INDEMNITY

  • You agree to release from, and indemnify each and every party including Agra Timed Auctions involved against any losses, damages, claims, suits, liabilities, expenses, demands and costs pertaining, either directly or indirectly to:
    • Any Services we provide and you use;
    • Whether as a Seller you display and offer your goods, services or items for sale, or as a Buyer you bid and/or purchase any of the goods, services or items up for sale;
    • Any and all expenses suffered or acquired by us that are unreasonable;
    • Any claim or liability that arises from or in connection with any interruption (cessation), whether it be temporary or permanent that has bearing on the Services that we provide;
  • Agra Timed Auctions will also be indemnified from the sale of any goods, services or items which sale is governed by laws, acts or regulations and does not fulfill or qualify according to these laws, acts or regulations. Any such sale will lead to criminal procedures and Agra Timed Auctions will notify authorities immediately.
  • We will also be indemnified from any breach of any rights of a party relating to the defamation, incoherency, deceptive behaviour or misleading in any way either by communication or any form of communication provided by our services.

INDEMNITY

Agra Timed Auctions will govern all bidding and selling and will try to provide and honest and fair bidding site, but all users will agree and acknowledge that we:

• have absolutely no control over whether, nor do we represent or guarantee that the goods, services or items offered for sale on Agra Timed Auctions are legally able to be sold; • Can not guarantee, nor do we represent or hold out that any and all descriptions and information of any goods, services or items on Agra Timed Auctions will be accurate; • We also can not guarantee that any services or goods that was successfully bid on will be paid for by the Buyer; • We also can not guarantee that all goods, services or items will be successfully delivered and therefore will try and protect all parties involved; • Cannot represent or guarantee that each Buyer and Seller is who they claim to be.

AUCTION RULES

Rules concerning the auction and conducting the auctions on Agra Timed Auctions:

  • Our site offers great benefits for both the Seller and the Buyer, but the following is prohibited:
    • Try and raise the bids when the Bidder has no intention of buying the services, goods or item in order to try and raise the eventual bid on the services, goods or item.
    • No manipulation of the bids in order to try and raise bidding from any other person.
    • Sellers are not allowed to cancel the auction at any time, unless irregularities occur or certain regulations have not been upheld.
    • Bidding Rigs or unlawful bidding rings are not permitted.
    • Sellers are not allowed to bid on their own item in order to raise the bids.

THIRD PARTY BIDDING

  • Users are not permitted to make any third-party bidding, or allow a third party to make a bid on their account. Users are encouraged to keep their information, including personal information, passwords and any other sensitive information confidential.
  • No agents are allowed on our site, unless they register, bid and buy in their own capacity.
  • In the case where a third-party bids on someone else’s account without the user’s knowledge, and the user reports this to Agra Timed Auctions, arbitration will be called in to settle any disputes that arises as a result of this.
  • Users are limited to one account per user.

WITHDRAWAL OF ITEMS

  • Purchase/Buy Now items are not allowed to be withdrawn except in the following scenarios;
  • When an item has been on the site for more than a month and a successful purchase could not be established.
  • When important additions or changes are made, or if the Seller made any changes in the interim.
  • When it conflicts with any other item.
  • Auction items are not allowed to be withdrawn prior or after the auction for any reason except for the following scenarios;
    • When the item has been damaged or has been altered in any way.
    • If any Buyer inspects the item and reports to Agra Timed Auctions that alterations or conflictions with the description appears.
    • Any irregularities occur and is reported to Agra Timed Auctions by the Seller.

WITHDRAWAL OF BIDS

    • Users will not be permitted to withdraw any bids made unless the following occurs;
    • The user accidently made a wrong bid, upon which he reports it to Agra Timed Auctions within 6 hours.
    • The user discovers that the item is not as described or listed on Agra Timed Auctions.
    • If the user discovers that a third party made the bid without their knowledge.

DISCLAIMER AND LIMITATION OF LIABILITY

Even though Agra Timed Actions offer an easy and competitive platform, the following will be effective and true:

  • • Notwithstanding, and in addition to, any other provisions in this Agreement, it is agreed by you that we will not be liable for any losses, damages, expenses, savings foregone or any difficulties or hardship experienced by you or any other person however it may have arisen. This also applies where it arose directly or indirectly from any authorised or unauthorised use of our site. It also includes the inability to access this site or utilise this site, the Services or your reliance on this site.
  • You as user agree that Agra Timed Auctions will not be liable for any difficulties, losses, suffering or any expenses incurred by you or any third party whatever the cause might be for any malfunctions or limitations, inability to use our site, inability to access our site, limitation of Services or any other operational difficulties that includes but is not limited to:
    • Any and all situations that may lead to you being unable to successfully access our site for whatever reason.
    • Failure of our site and the systems that operates our site or even network sources and resources that may be connected.
    • Any problems pertaining to your health, including but not limited to stress, anxiety or any other condition that may arise and lead to further difficulties
    • Any malfunction or inability to process information or any bids made or given by any of the parties involved
    • Any User suffering any consequential loss or damage of any goods, services or items relating to any business enterprise or any other commercial venture or the eventual loss of profit as a result.
    • Damages to your hardware device as a result of using our Services.
    • Any difficulties arising from the information, actions or lack of actions from any third party.
    • Your use of our service or the inability to use our services.
    • Viruses or any other malware or malicious software obtained during the use of our service.
  • All services, goods and items are sold on an ‘as is’ basis or ‘voetstoots’ basis and that you make use of the services provided at your own risk. This also applies, to the extent permitted by law, to expressed or implied warranties, terms and conditions which will also include but not limited to expressed or implied warranties of merchantability, non-infringement or that the goods, services or items are fit for a certain purpose.
  • Agra Timed Auctions
  • ns are not involved in any sales or purchases bar the fact that we are providing a venue or gateway for sale and purchases of items.
  • We do not present or hold ourselves out as agents or any form of manufacturer any of the items listed on Agra Timed Auctions, accept where it is specifically indicated as such.
  • We are not liable for any post-transaction disputes and/or legal discrepancies.

PROCEDURE IN THE EVENT OF A DISAGREEMENT AND ARBITRATION

Agra Timed Auctions strives to create a platform void of any complications, arguments or unwanted conduct, but in the event of any disagreement relating to any nature, the following procedures will apply;

  • The first step to resolve any disagreements is for parties to contact each other and alert of any difficulties (sounding in any nature), notify said party of any difficulties and allow both parties to negotiate a resolve within a period agreed upon by both parties;
  • In the event where no resolve can be established within the agreed period, both parties will agree upon a neutral party that can facilitate a quick and non-damaging resolve that will benefit both parties.
  • If no agreement can be established after abovementioned clauses, resolve will be determined by Arbitration.
  • If the disagreement is resolved in connection with any rights or any terms in this agreement and other agreements, all costs endured by us will then be your liability.

ARBITRATION

  • If any disagreement arises sounding in any difficulties or complications and can not be resolved between the parties (Agra Timed Auctions and party #2), or of any breach of agreements, such a disagreement will be submitted to a suitable arbitrator.
  • For the purposes hereof, the parties hereto agree that they will find a suitable arbitrator.

TRANSPORT AND DELIVERY POLICY

  • The sole responsibility of the transport will fall onto the users. Agra Timed Auctions will be exempt from any responsibility regarding transport, and will merely facilitate where required.
  • The cost of transport will fall onto the Buyer, unless otherwise stipulated and/or mutually agreed upon by all parties.
  • The Seller will be responsible for the safeguard of their item/s until it is successfully loaded for transport.
  • In the event of a breach of our Terms and Conditions by the Seller or a breach of the Rules for Sellers, the total cost of the transport, including the return cost, will fall onto the Seller.
  • From date of purchase, the Seller will have a maximum of one week for delivery, unless otherwise arranged by the Seller and to the satisfaction of all parties.

PROPERTY AUCTION POLICY

  1. All properties up for auction or sale on our website will be subject to the following conditions and prerequisites:
    • All properties will be auctioned or sold with all improvements thereon and all fixtures and fittings of a permanent nature pertaining thereto (‘the property’), unless otherwise specified.
    • The Seller is prepared to sell the property and hereby irrevocably authorises Agra Timed Auctions to offer the property for sale on the following material terms:
      1. Agra Timed Auctions shall be entitled to advertise the property for sale at the reserve price as mentioned earlier.
      2. Any offer received at or above the reserve price in terms of the conditions contained herein shall automatically be valid for acceptance by Agra Timed Auctions relating to the mandate given by the Seller, and upon such acceptance shall constitute a valid Deed of Sale.
      3. If, however the reserve price is not reached or offered or if no minimum reserve price has been stipulated, the offer of the highest bidder shall be subject to the written confirmation by the Seller within 24 hours of date of auction, and if confirmed will then constitute a valid Deed of Sale, provided however that:
        1. The offer of the highest bidder shall remain open for acceptance and confirmation by the Seller for a period of 24 hours after the date of auction, failing which the offer will lapse and be deemed invalid.
        2. If the Seller has, during the aforementioned period, received another offer from a bona fide third party at a price higher or more favorable than the offer of the highest bidder, the highest bidder will have the option to purchase the property upon the same terms and conditions contained in the offer by the bona fide third party. The highest bidder will have to confirm this in writing within 24 hours of receipt hereof.
  2. The purchase price shall be payable in one of the following methods:
    • The full purchase price on date of registration of transfer, or
      1. An initial deposit, payable to the Seller on the date of the auction, on date of the signature by him of the Conditions of Sale, or if it has not been sold on auction on date of signature by the Buyer of the Agent’s Agreement of Sale, and the balance of the purchase price in both instances on date of registration of transfer
      2. Bank guarantees acceptable to the Seller shall be provided by the purchaser for either the amount referred to in article 2.1, or the balance of the purchase price referred to in article 2.1.1 hereof within 21 days from date of auction or date of signature by the buyer of the Agent’s Agreement of Sale
    • Occupation of the property will be subject to an agreement between the Seller and the Buyer on the date of auction/ date of registration of transfer or such a date that will be mutually beneficial to both parties: in writing. If the date of occupation does not coincide with the date of registration of transfer, the party occupying the property while it is registered in the name of the other party shall, in consideration of such an occupation and for the period thereof, pay the other party monthly in advance an occupational interest. If transfer of the property is not registered within 60 days after the date upon which the Buyer has occupied the property, the occupational interest payable monthly by the Buyer will with immediate effect be one twelfth of the annual interest. This is determined by multiplying a rate of 15% of the purchase price referred to in article 2.1, provided that this shall not apply if the Seller fails to register the transfer within the said period.
    • All the benefits and risks of ownership of the property shall fall on the Buyer on the date the sale is concluded.
    • If so required by the Buyer, the sale will be subject to the suspensive conditions the the Buyer is able to obtain approval of a loan from a bank or any other financial institution, providing security of a first mortgage bond on date of registration of the property, such a loan to be approved within 14 days of date of sale.
    • Agra Timed Auctions success fee payable by the Seller/Buyer is 3% of the purchase price plus V.A.T on the aforementioned amount. The said success fee shall be deemed to have been earned upon the date the reserve price was obtained, on the date of the auction or the date of signature of an Agreement of Sale by both the Seller and the Buyer and the fulfillment (or waiver, as the case may be) of all suspensive conditions contained herein, and is payable upon registration of transfer of the property into the name of the Buyer, provided that if a deposit is paid by the Buyer in terms of article 2.1.2 hereof which is sufficient to cover the success fee, such success fee shall be paid to the Agra Timed Auctions on date of payment such a deposit.
  3. Grant of mandate and sole selling right
    • The Seller hereby irrevocably grants to Agra Timed Auctions for the period commencing from date of listing and terminating in the event of a sale by auction, at a date 60 days after the date of auction or if it is a sale by a private treaty at a date 120 days after the signature hereof (the ‘mandate period’), a sole and exclusive right and/or mandate to offer the property for sale. Upon expiry of the mandate period or a valid sale of the property being conclude, whichever occurs first, this Agreement will automatically lapse, and subject to provisions of section 5 below, be of no effect whatsoever.
  4. Agra Timed Auctions’ obligations
    • Agra Timed Auctions will hereby undertake the following;
      1. To advertise the property in the press/social media at regular intervals during the mandate period, the costs of which will be payable by the Seller. The said amount will have to be deposited by the Seller against date of listing and is non-refundable.
      2. Communicate with the Seller on a regular basis during the mandate period to advise him/her of progress concerning the sale of the property.
  5. Communicate with the Seller an offer equal to or higher than the reserve price has been received, in which event such an offer will be accepted by Agra Timed Auctions on behalf of the Seller or when the property has been put up for auction and the reserve price has been met at the conclusion of the auction, such an offer will be accepted by Agra Timed Auctions.Seller’s obligations

    The Seller undertakes that;

    • They will not during the mandate period, appoint or allow any other Auctioneer and/or Agent to sell or undertake to sell the property, nor will they or any other party be, on their behalf, entitled to sell the property.
    • He will not do anything which might prevent, frustrate or hinder Agra Timed Auctions from effectively making a sale of the property in terms hereof. For purposes hereof, “prevent, frustrate or hinder” shall, without in any way limiting the generality thereof, include:
      1. A refusal by the Seller to accept a bona fide written offer submitted or bid made to him by a buyer during the mandate period to purchase the property on the terms stated herein, and;
      2. The Seller’s withdrawal of the property from the market prior to the termination of the mandate period, and;
      3. The Seller cancelling the sale for whatever reason after the auction upon which the reserve price has been offered, or if no reserve price was stipulated, after the Seller confirmed acceptance of the highest bid, and;
      4. A refusal to co-operate with Agra Timed Auction in the latter’s undertaking to sell the property, more particularly by denying him access to the property at reasonable times for the purpose of showing it to potential buyers or holiday show days.
    • He will pay to Agra Timed Auction success fee based on a percentage of the purchase price at which the property is sold by Agra Timed Auction during the duration of this agreement, plus V.A.T thereon, subject the specific terms (if any) in this regard in the relevant Agreement of Sale. Such success fee is also payable by the Seller in the event that the sale of the property occurs:
      1. Within 30 days after the termination of this agreement (whether by expiration of time or otherwise) to a person who was during the mandate period introduced to him or the property as a potential Buyer thereof, either by Agra Timed Auction or any third party, or;
      2. After the expiry of a period of 30 days after which such termination and Agra Timed Auctions was the effective cause of such sale.
    • If the Seller commits a breach of any of the provisions of:
      1. 5.2 above and persists in such a breach for a period of 7 days after receipt of a written notice from Agra Timed Auctions calling upon the Seller to remedy the breach, or of;
    • From date of listing, until the date of registration of transfer or until this Agreement is terminated, he will keep and maintain the property and all improvements thereon in the same condition as of date hereof, wear and tear however excluded.
    • He will keep the property and all improvements insured at the replacement value and will promptly pay on the due dates thereof, all rates, taxes and other charges levied by the Local Authority or any other competent authority.
  6. Acknowledgement of seller

    The Seller acknowledges that he is not entitled to unilaterally withdraw from or terminate this agreement prior to the expiry of the mandate period, unless Agra Timed Auctions agrees to such a withdrawal or cancellation in writing, from which an agreement will only be reached if;

    • He can show good cause that arises out of circumstances beyond his/her control of such withdrawal or termination, and;
    • He undertakes that:
      1. If he decides within a period of months after such withdrawal or termination to again sell the property, he will forthwith furnish Agra Timed Auctions with written notification of such a decision together with the price at which he is prepared to sell. Upon receipt of such a notification, all terms and conditions of this agreement will be automatically reinstated, mutatis mutandis, for a period agreed upon.
  7. Warranties by the seller

    The Seller hereby warrants in favour of Agra Timed Auctions and the Buyer that;

    • He is the legal and registered owner of the property and is able, without any legal hindrance or impediment, to give transfer of the property when requested to.
    • There are no servitudes or restrictive sale conditions registered against the property. Any sale condition must be communicated to all parties before an agreement is made.
    • The property has not been expropriated, nor has there been any threat of expropriation or an expropriation notice served or any legal action or admonition registered in respect thereof.
    • All buildings erected upon the property and/or improvements made where applicable were in accordance with approved plans, and there are no pending actions for any demolishment.
    • The property will upon date of auction or, if not auctioned, on date of registration of transfer, not be subject to any lease or tenancy and that the Buyer will be entitled to take occupation on date of auction or transfer, which the case may be.
  8. Arbitration
    • If any dispute, sounding in money, arises between the Seller and Agra Timed Auctions, relating to the payment of the success fee in terms of this agreement or damages consequent upon a breach thereof by either the Seller or Agra Timed Auctions, such dispute shall be submitted to and decided by Arbitration.
    • For purposes hereof the parties hereto agree that they will agree upon a suitable Arbitrator, and if no agreement can be reached, the Arbitrator will be a person nominated and appointed by the Law Society of Namibia.
  9. Transfer

    Transfer of the property shall be passed by the conveyancers, and the Buyer shall pay all fees, costs and stamp duty on the Deed of Transfer, which shall be payable immediately when requested thereto.

  10. Successors in title

    This Agreement shall be binding on the parties and on their executors, administrators, successors in title or assigns.

  11. No cession

    None of the parties shall be entitled to alienate, cede, transfer or impede any right obtained by virtue of this Agreement to any other person or legal entity without prior written consent of the other party.

  12. No indulgence or waiver

    Notwithstanding any expressed or implied provisions of this Agreement, any latitude or extension of time which any party may allow the other party in respect of any payment provided for herein, or any matter or act which such party is bound to perform or observe or comply with in terms of this Agreement shall not under any circumstance be deemed or construed to be a waiver of, or prejudice the rights of such other party, and such party shall at all times insist on strict and punctual compliance with each and every term and condition of this Agreement.

  13. Jurisdiction

    The parties’ consent to the jurisdiction of the High Court of Namibia or the Magistrate’s Court for any legal proceedings in respect of any dispute that may arise from this Agreement, and this paragraph shall serve as written consent, as may be required by any law of Court to grant jurisdiction to the Court wherein the dominus litus may institute such proceedings.

  14. General
    • This Agreement constitutes the whole Agreement between the parties, and supersedes all previous writings and negotiations.
    • No amendments, addition to, deletion from or variation of the terms of this Agreement shall be of any force and effect, unless reduced to writing, signed by all parties and made an annexure hereto
    • Should any part of this Agreement be held unenforceable or in conflict with the applicable law, the validity of the remaining parts shall not be affected, and shall remain in full force and effect, unless this agreement is rendered incapable of interpretation or implementation as a result of the unenforceable provisions.
    • The parties acknowledge that no undertaking or agreement or warranties were given, or representations made by or on behalf of any party, except as is recorded specifically in this Agreement.
    • The parties hereby choose as domicilium citandi et executandi the addresses stipulated in the preamble hereof, and any notice to a party shall either be delivered by hand, faxed or e- mailed to the address of the addressee and shall be deemed to have been received by such addressee:
      1. In the case of delivery, by hand at the time of delivery
      2. In the case of a fax, on the day following receipt by the sender of a fax confirmation, or;
      3. In the case of an e-mail, at the time of a read receipt message.
  15. V.A.T
    • The seller hereby confirms that:
      1. The property to be sold is used exclusively for residential purposes, and is therefore exempt from V.A.T, or;
      2. He is not registered for V.A.T, and that no V.A.T is therefore payable, or;
      3. He is registered for V.A.T and that the property to be sold is not exclusively used for residential purposes, and that V.A.T is therefore payable by the Buyer on the purchase price, or;
      4. He is registered for V.A.T, but that the property to be sold will be sold as a going concern, and provided that the Buyer is registered for V.A.T, the transaction be regarded as a zero-rated transaction
    • It is however hereby agreed that, notwithstanding any conditions contained herein to the contrary, if any V.A.T is or becomes payable, the Buyer will be liable for such payment.
  16. Registered owner - a company or closed corporation

    In the event of the registered owner of the property being a company or Closed Corporation, the Seller hereby agrees, warrants and confirms that:

    • The mandate given in terms hereof shall be construed as a mandate to sell his total issued shares and/or members interests together with any loan accounts in and to such company and/or Closed Corporation, and the Agreement of Sale to be signed in the event of a sale will be Agra Timed Auctions’ standard Agreement of Sale of Shares or member’s interests as the case may be;
    • He is the sole shareholder and/or member of such Company and/or Closed Corporation, and has full authority to sell;
    • The said Company and/or Closed Corporation’s only asset is the property, and that no prior agreement for the sale of such shares and/or interest has been entered into;
    • The books of account of the said Company and/or Closed Corporation have been properly kept in accordance with the generally accepted accounting principles;
    • The Company and/or Closed Corporation as the case may be, will on the effective date have no liability or would have discharged each and every liability, including any taxes from whatever cause, and the Seller indemnifies Agra and the Buyer in respect thereof;
    • The effective date of such sale will be the date of registration of the shares or members interests in the name of the Buyer;
    • All other terms and conditions contained herein will be regarde as if incorporated in any Agreement of Sale of Shares or Member’s Interest, as the case may be, and this Agreement will for all intents and purposes be constituted as an Agreement granting Agra a sole and exclusive mandate to offer the Seller’s shares or Member’s interests, as the case may be, for sale by auction or private treaty on the same terms and conditions contained herein.