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5  M i l e s  E a s t  o f   R e g i n a   o n   H i g h w a y  # 1

P.L. No. 914529

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© Copyright 2000
Great Plains Auctioneers

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Terms and Conditions Between
Great Plains Auctioneers and
all Buyers and Sellers

FOR BUYERS (PURCHASERS)

1). No merchandise is to be moved until complete settlement has been made. Full settlement MUST be made on the day of the auction.
2). Terms are cash, certified cheque, bank draft, or private and company cheques with proper identification.
3). Anyone issuing an N.S.F. cheque will be liable for inconvenience and legal fees.
4). All merchandise will be sold on an "as is" basis.
5). Upon purchase of the merchandise, it becomes the responsibility of the buyer.
6). All merchandise must be removed within fourteen days of the Auction.
7). Please inspect all merchandise before bidding.
8). Bidding card and number are the buyer's responsibility.

In the event of non-payment of the total charges for the goods being hereby purchased at Great Plains Auctioneers (the Agent of the Vendor), including a failure of payment by reason of any cheque in payment or part payment of the charges being for any reason not honoured or paid, the purchaser of such goods agrees that:

(1) In the event that the purchaser has removed the goods from the premises of Great Plains Auctioneers,

(a) Great Plains Auctioneers has the right to repossess the goods forthwith and without notice to the purchaser, and to hold same as security for the unpaid charges, including all costs associated with the failure of payment, are paid in full;

and

(b) in the event that such charges and costs are not fully paid in five (5) days, Great Plains Auctioneers may, but is not so obliged, sell the goods, free of any claim of the purchaser whatsoever, but without prejudice of the rights of Great Plains Auctioneers against the purchaser in respect of the unpaid charges and costs.

(2) In the event that the purchaser has left the goods on the premises of Great Plains Auctioneers,

(a) the goods are left at the sole risk and responsibility of the purchaser, whether or not the purchaser has made payment, and remain so at the responsibility of the purchaser at all times;

(b) In the event that unpaid charges for the goods and costs associated with the failure of the purchaser to pay, are not fully paid withing five (5) days, Great Plains Auctioneers may, but is not so obligated, sell the goods, free of any claim of the purchaser whatsoever, but without prejudice of the rights of Great Plains Auctioneers against the purchaser in respect of the unpaid charges and costs.

FOR SELLERS (VENDORS)

Merchandise is certified by the consignor (seller) or his agent free and clear of all liens and encumbrances to be sold unreserved on the date of the auction at Great Plains Auctioneers. Full settlement less sales commission and any work orders and trucking on all merchandise will be made sixteen (16) banking days following the auction. Any dispute arising as to bidding shall be determined by the auctioneers at their sole discretion. It is agreed that during such time that said merchandise is in the possession of Great Plains Auctioneers it shall be at the risk of the consignor and great Plains Auctioneers shall not be held responsible for any damages to the merchandise or any liability arising from its necessary use by employees. Great Plains Auctioneers shall not be held responsible for accident, breakdown, operating maintenance, Act of God, third party liability, loss, or loss of parts pertaining to any unit. The consignor will be liable for E&H Tax if Great Plains Auctioneers has not been properly notified that E&H Tax is due and collectable from the Buyer. In the event that payment of the sale proceeds to the Seller is disputed or contested by any person or party, or any person or party other than the Seller claims entitlement to payment of the proceeds and/or demands payment from Great Plains Auctioneers, Great Plains Auctioneers reserves the right to charge all reasonable costs and expenses involved /incurred in paying out the proceeds, including, but not limited to, long-distance telephone charges, postage and courier charges, legal fees and disbursements.