This is the legal stuff!
Conditions of Sale
1.1. The auction company shall be the provider of the Sales Services at the relevant Sales Complex, and in this context shall mean Kingsman Equine LLP, or any parties acting on its behalf, namely and hereinafter referred to as "the Company".
1.2. The purchaser shall be the highest bidder acceptable to the Company subject to the right reserved by the Company to fix a minimum selling price at all or any Sales and subject to the reserve price. The party hereinafter referred to as "the Purchaser".
1.3. The vendor shall mean the person, partnership or corporation named in the entry form as Owner of the Lot provided that where an owner is not named in the entry form or in the case of a partnership or corporation, the individual who enters the Lot for sale shall be deemed the vendor. The Party hereinafter referred to as "the Vendor".
2.1. In these Conditions of Sale the following definitions shall apply:
“Arbitrator” shall mean an independent, UK qualified, veterinary surgeon appointed to settle a dispute;
“Lot” shall mean and include horses of all descriptions offered for sale by the Company;
“Passport” shall mean a document that allows a Lot to be identified and transported internationally;
“Sales Complex” shall mean any premises being permanent, temporary or otherwise used by the Company in any Sale.
3.1. A Lot shall be entered for a sale on the completion of an entry form by or on behalf of the Vendor and upon payment by the Vendor to the Company of the prescribed entry fee.
3.2. In the event that the Vendor wishes to place a reserve on a Lot, the amount of the reserve must be specified in the entry form.
3.3. The Vendor warrants to the Company and to the Purchaser that, on the day of Sale, the Lot when described as vaccinated will have been properly vaccinated and will have no contagious or infectious diseases. The Vendor shall further warrant to the Company and the Purchaser that, on the day of Sale, it shall have full title to the Lot and such Lot shall be free of any encumbrance whatsoever.
4. Vetting and X-rays
4.1. All Lots shall be sold with a two stage veterinary certificate from a UK qualified veterinary surgeon of the Royal College of Veterinary Surgeons approved by the Company.
4.2. All Lots, of two years of age or over, will be accompanied with a set of radiographs (X-rays). The X-rays of each Lot do not constitute a warranty of any kind and shall not be of any concern of the Company and/or the Company's veterinary adviser, and shall not be included in any form of pre-sale examination conducted by the Company's veterinary surgeon. The Company shall have no liability in respect of the accuracy of any X-rays.
4.3. All X-rays will be available to potential Purchasers to study both before, and on the day of the Sale, prior to closing.
5. Catalogue Description
5.1. The Company accepts no responsibility for the accuracy of any of the particulars of a Lot in the collection catalogue, on-line or otherwise. The Vendor undertakes to immediately check the accuracy of the catalogue description of the Lot and to notify the Company immediately in writing of any correction, amendment or addition that needs to be made to the catalogue description.
5.2. The Company may amend or add to any catalogue description during the course of the Sale and may declare a sale to be subject to veterinary examination or not during the course of the Sale, in which event any announcement by the Company takes precedence over any entry in the catalogue.
5.3. The authenticity and accuracy of each Lot's Passport is the sole responsibility of the Vendor. Any inaccuracies that may occur should be dealt with between the Vendor and the Purchaser.
6. Conduct of Sale
6.1. The Company may at its absolute discretion:
(a) refuse to accept any bid or bidder;
(b) regulate this bidding as the Company sees fit;
(c) arrange, consolidate or withdraw any Lot; or
(d) cancel or postpone a Sale on account of bad weather or other supervening causes. In the event that a Sale is cancelled, moved or rearranged, the Company shall not be liable to pay compensation to any Vendor, bidder or any other party.
6.2. The Vendor reserves the right to transact a sale through the Company acting as the Vendor's agent.
6.3. The Purchaser shall be the highest bidder and the person who makes payment for the Lot on the day of the Sale and whose name is entered on to the receipted account. In the event of a dispute between two or more bidders as to which is the Purchaser, the Company shall have the right to declare the purchaser or at the Company's discretion, to immediately re-offer the disputed Lot for sale.
6.4. Any Purchaser bidding as agent for a principal shall be deemed to have bid on his own behalf as well as on behalf of his principal and the highest bidder shall be personally liable along with the principal to the Vendor.
6.5. To gain entry to the Sales Complex all Lots must travel with their Passport.
6.6. All Lots will be checked through the gates and no Lot will be able to leave the Sales Complex until a stamped pass has been obtained from the sales office.
6.7. The Company reserves the right to at random, and/or at the request of the Purchasers, blood test any entry for substances that have not been declared to the Company pre-sale.
6.8. The Company, under the veterinary surgeon's guidance, reserves the right to refuse entry to any Lot showing symptoms of coughing or any other contagious disease.
6.9. All Vendors and Purchasers must follow any health and safety procedures and guidelines as laid out in the collection catalogue and by representatives of the Company on the day of the Sale.
7.1. All bidders shall be required to register with the Company prior to the Sale in order to bid.
7.2. Each bidder will be given a unique log-on for the access to the on-line sales bidding platform creating a unique bidding account and where appropriate, a bidder may be asked to pay a refundable deposit against their individual bidding account.
7.3. The Sale will be conducted in pounds sterling, GBP.
7.4. Subject always to the discretion of the Company, no bidder shall advance less than 500 GBP up to 10,000 GBP; 1000 GBP up to 30,000 GBP and 2,000 GBP thereafter.
7.5. No bidding shall be retracted once submitted. The bidding increments will be regulated by the Company.
7.6. Commission bids will be faithfully executed when received in writing at least one hour prior to the live close of the on-line sale/auction, on the condition that the Lots have been viewed by the intending Purchaser or his agent and the Purchaser agrees to accept all faults and mis-descriptions. Whilst any Lot will be purchased as other bids and reserves allow, the Company will accept no responsibility if a commission bid is not executed.
7.7. All Lots bought on commission must be paid for immediately, regardless of whether or not they have been collected.
7.8. A deposit may be requested by the Company at the time of placing a commission bid.
8. Commission and Fees
8.1. An entry fee is payable to the Company by the Vendor in respect of each Lot entered and catalogued.
8.2. Commission is payable to the Company by the Vendor at the rate 5% of the price of each Lot together with the appropriate rate of VAT whether:
(a) sold or bought in by the auction at the Sale, or
(b) sold otherwise than by auction at the Sale between the date of publication of the on-line catalogue for the Sale in which the Lot was entered and 28 days after the last day of that Sale, provided that for the purpose of this sub-condition 8.2(b) the Company reserves the right to substitute a fair price for any sale price notified to it or to determine a fair price when no sale price is notified to it.
8.3. A withdrawal fee of 10% of the reserve price together with the appropriate rate of VAT is payable to the Company by the Vendor in respect of any Lot which is entered and catalogued for a Sale and which is withdrawn prior to the time at which it is due to be sold in the Sale unless a Veterinary Certificate to the Company's satisfaction is produced or unless commission is payable pursuant to sub-condition 8.2(b) above.
8.4. Vendor commission is payable in full to the Company regardless of whether a Lot is subsequently returned by the Purchaser to the Vendor in accordance with the complaints procedure hereunder or for any reason.
8.5. Buyer premium is payable to the Company by the Purchaser at the rate of 7% of the price of each Lot purchased together with the appropriate rate of VAT. The Purchaser will be deemed responsible for the vetting costs of the pre-sale vetting and 150 GBP plus VAT will be payable by the Purchaser when settling payment for their purchased Lot.
8.6. Buyer premium is payable in full to the Company regardless of whether a Lot is subsequently returned by the Purchaser to the Vendor in accordance with the complaints procedure here under or for any reason.
8.7. Commission and Fees are subject to VAT or equivalent where applicable.
8.8. The Company will raise a self-billing tax invoice for the proceeds of any Lots in any Sale held by it. It should be noted that it is a UK Customs & Excise requirement that this is the only tax invoice raised.
8.9. It is incumbent on the Vendor to provide a VAT registration number where appropriate together with the applicable name and address for the inclusion in any self-billing invoice.
8.10. It is the responsibility of the Vendor to notify the Company immediately if a VAT registration is cancelled or a new VAT registration number is issued.
9.1. Full payment for all Lots must be made to the Company within 1 hour of the completion of the Sale, in pounds sterling GBP, by means of cash, debit card, credit and/or bankers draft/mandate.
9.2. Cash payments are subject to a limit of 2,500 GBP for all purchases made at the Sale.
9.3. Where a Purchaser wishes to pay by card, a fee shall be payable at the applicable rate, the amount of which is notifiable at the time of registration to bid.
9.4. The Company shall pay the Vendor the sale price of the Lot less the Company's commission and any other outstanding charges and expenses due from the Vendor to the Company within 14 days of the day of the Sale, provided that:
(a) the Company has been paid in full for the sale price of the Lot by the Purchaser; and
(b) the Purchaser has not initiated the Complaints Procedure set out in these Conditions of Sale pursuant to condition 13, further in the event that the Purchaser has initiated the Complaints Procedure, the Company shall retain the sale price of the Lot pending the outcome the of Complaints Procedure.
9.5. If the Purchaser fails to make payment in full for the Lot, the Company shall in its absolute discretion, resell the Lot and the Purchaser shall be liable for any shortfall in price, and any associated expenses connected with such resale.
9.6. The Company reserves the right to withhold any monies due to the Vendor and to rescind the contract for sale if, in the sole opinion of the Company, the Purchaser is not a bona fide Purchaser and/or incapable of making a contract; i.e., not being of sound mind, being in collusion with the Vendor or being under the influence of drink or drugs.
10. Delivery and Risk
10.1. Lots shall be purchased by the Purchaser at their sole risk from the close of their final binding bid.
10.2. Title to the Lot shall not pass to the Purchaser until the Purchaser has made payment in full for the Lot by means of cleared funds. Until payment in full by means of cleared funds is made, title to the Lot shall remain with the Vendor.
10.3. The Company may at its sole discretion allow the Purchaser to take delivery of the Lot upon the tender by the Purchaser or on his behalf of a cheque in the full amount of the price.
10.4. The Purchaser, subject to payment in full, must take possession of the Lot not later than 12.00pm the day after the Sale, but is responsible for the care of the Lot from the close of the sale.
10.5. In the event that a Lot is not sold, the Vendor shall take back the Lot from the Sales Complex on the day of Sale unless alternative arrangements have been agreed with the Company.
10.6. The Purchaser authorises the Vendor and the Company as agent for the Vendor to enter upon the Purchaser's land to take collection of any Lot in respect of which the Purchaser has not paid in full.
11. Responsibility of Horses
11.1. Each Lot shall be at the Vendor's risk from the time of arrival for the period the Lot shall be at the Sales Complex, unless such Lot shall have been sold, in which case such Lot shall be the Purchaser's risk in all respects from the time of sale.
11.2. The Company has a general right to move a Lot between different parts of the Sales Complex. The Company shall incur no liability in respect of or in connection with any loss or harm sustained by a Lot (including theft, death or injury) at any time whilst at the Sales Complex or in transit between different parts of the said complex.
11.3. The Company shall not be liable for any loss or damage caused by any Lot whether by disease, accident or otherwise whilst the said Lot is at the Sales Complex or in transit between different parts of the said complex, save that nothing in these conditions shall be taken as excluding or restricting or as attempting to exclude or restrict the Company's liability for death or personal injury resulting from negligence as defined in the Unfair Contract Terms Act 1977.
11.4. The Company reserves the right to examine any Lot and/or isolate any Lot and/or refuse any Lot entry to or require the removal of any Lot from the premises where in the Company's discretion any such Lot presents or appears to present a danger to persons, property or other bloodstock. The Company shall incur no liability in the event of the Company exercising its rights pursuant to this condition.
12. Returned Lots
12.1. Lots may be returned by the Purchaser to the Vendor if the Purchaser of any Lot sold with a pedigree establishes that the pedigree is inaccurate.
12.2. Lots may be returned by the Purchaser to the Vendor, subject to the Complaints and Disputes Procedure set out at condition 12 of these Conditions of Sale, if a Lot:
(a) is a wind sucker;
(b) is a crib-biter where this is associated with wind-sucking;
(c) is a weaver;
(d) exhibits box walking;
(e) has been tubed, fired, unnerved or operated on for unsoundness of any other kind;
(f) is a male horse (other than a foal, a yearling before the 1st July of its yearling year) which does not have two testes fully descended to and fully palpable within the scrotum at the time of the Sale is or shall be deemed to be a rig or cryptorchid; and if the horse has not been described as such on the pre-sale Veterinary Certificate or announced from the rostrum or in the on-line catalogue; or
(g) a broodmare is described in foal or believed to be in foal and is found not to be in foal.
13. Complaints and Disputes Procedure
13.1. The Purchaser shall notify the Company if the Purchaser claims to be entitled to return a Lot to the Vendor in accordance with condition 12 only orally by 5pm on the fourth day following the Sale excluding Sundays.
13.2. The Purchaser shall follow up this oral notification to the Company with written notification to the Company to be received by the Company within 7 days of the date of the Sale. The written notification by the Purchaser to the Company shall set out the grounds upon which the Purchaser claims to be entitled to return the Lot to the Vendor.
13.3. Where appropriate, the Purchaser shall submit, along with his written notification, a Veterinary Certificate confirming any matters in respect of which the complaint is made. The failure to submit a Veterinary Certificate in circumstances where such a certificate is appropriate will mean the Purchaser's complaint will not be further entertained and the Purchaser shall pay the price for the Lot in full.
13.4. In the event that the Purchaser fails to make oral or written notification of his complaint within the above timescales, the Purchaser shall not be permitted to return the Lot to the Vendor but must make payment for the Lot in full unless the Purchaser can demonstrate to the satisfaction of the Company that it was not reasonably practicable for the Purchaser to discover the complaint and to notify the Company of the same within the above timescales. Notwithstanding the foregoing, in no circumstances whatsoever may the above time limits be extended beyond a period of 7 days after the Sale.
13.5. Upon receipt of a written complaint together, where appropriate, with a Veterinary Certificate, the Company shall send a copy of the complaint and the Veterinary Certificate to the Vendor and the Company shall appoint a suitable person to act as Arbitrator. The task of the Arbitrator will be to examine and determine the complaint. The name of the person appointed by the Company to act as Arbitrator shall be notified by the Company to the Vendor and the Purchaser. The Company shall thereafter have no further responsibility in respect of the Complaints and Disputes Procedure.
13.6. The examination and resolution of the complaint shall be under the control of the Arbitrator and the Vendor and Purchaser shall comply will all directions that may be given by the Company in respect of the complaint.
13.7. The Arbitrator may require, before proceeding to examine and determine the complaint, that the Arbitrator's fees and expenses be paid in advance. The Vendor and the Purchaser shall thereupon each pay the sum stipulated by the Arbitrator.
13.8. The Arbitrator may direct that the Lot shall be subject to such trial as he may direct and the Vendor and the Purchaser shall provide their full co-operation to such trial.
13.9. If either the Vendor or the Purchaser fails to comply with the direction of the Arbitrator or fails to pay any sum ordered to be paid by the Arbitrator, then the Arbitrator may at his own discretion decide not to proceed with the examination and determination of the complaint and may, if the Vendor is in default, order that the Lot be returned to the Vendor or may, if the Purchaser is in default, order that the Purchaser pay the full price to the Vendor.
13.10. Upon the determination of the complaint, their Arbitrator may at his own discretion order that the unsuccessful party pay to the other all costs and expenses associated with the Complaints and Disputes Procedure.
14. Warranties and Limitations of Liability
14.1. The Company acts as agent of the Vendor and the Company gives no warranties of any kind to the Purchaser.
14.2. It is the Vendor's sole responsibility and not the Company's to declare any defects or problems that's may cause for complaint by the Purchaser of any Lot.
14.3. The Company does not accept any liability for:
(a) the description or pedigree of the Lot given in the on-line catalogue;
(b) the physical condition, performance, potential or ability of the Lot sold;
(c) the payment of the price by the Purchaser;
(d) the return of any Lot by the Purchaser to the Vendor; or
(e) the administration of the Complaints and Disputes Procedure beyond the appointment of an Arbitrator in accordance therewith.
15.1. In these Conditions of Sale, unless the contrary intention appears, words importing the masculine gender shall indicate female and words in the singular shall include the plural and words in plural include the singular.
15.2. All Purchasers are deemed to bid, and all Vendors are deemed to sell, on the understanding that they have read and understood these Conditions of Sale.
16. Health and Safety
16.1. All persons entering the Sale Complex do so at their own risk.
16.2. All persons entering the Sale Complex must take notice of, and abide by, all specific health and safety notices on display at individual sites.
17.1. Purchasers making a purchase for export must comply with all regulations and export requirements and indemnify the Company against any liability.
18.1. These Conditions of Sale are to be construed and shall take effect in accordance with English Law and the English Courts shall, unless the Company elects otherwise, have exclusive jurisdiction to hear and determine any action thereunder.