Absa Bank Terms and Conditions
R2 000.00 (Two Thousand Rand) payable to the AUCTIONEER upon
registration and is refundable to unsuccessful bidders.
Only confirmed electronic transfers will be accepted as payment. (PAYABLE TO AUCTIONEER)
Bidders will be notified of the auction outcome via E-mail and/or SMS once offers have been reviewed.
No CASH will be accepted on the premises.
All purchases are to be paid in full within 48 hours after the auction. No vehicles will be
released unless the purchase price is paid in full / all buyers comply to Fica requirements.
Terms of purchase: Bid price (includes VAT) + Handling fee.
Clients being financed are required to provide proof of 100% bank finance of the
invoice total at the conclusion of sale. Clients must provide the Auction House with a bank release note
within 48 hours from conclusion of sale, however goods will only be released on
confirmation of payment from the bank. No finance available on non-runners.
There will be NO dispatching of goods during the auction - NO EXCEPTIONS WILL BE MADE.
All purchases to be removed at the buyer's risk. Dispatching times are as follows:
Wednesday to Friday: 8am to 16h00
STORAGE FEE: STORAGE WILL BE CHARGED AT R250.00 PER LOT PER DAY IF VEHICLES
ARE NOT COLLECTED BY 16H00 ON THE FRIDAY AFTER THE AUCTION.
Kindly note the following FICA documents are required upon registration:
- Identity document
- Proof of residence (utility bill not older than 3months)
- If purchasing where the person is not a RSA citizen, the passport and proof of residence
- living in RSA is required.
- Identity documents of members
- Proof of residence of members (utility bill not older than 3months)
- Proof of address for business (utility bill not older than 3months)
- Company registration form CM1 or CK1
- Official SARS document
- Resolution from company authorising representative to bid is required
- Proxy details
- Ensure that your business is Cipro registered i.e. "In Business" Absa is unable to do business
if your Cipro registration is not up to date
NB NO BUYER CHANGES WILL BE ALLOWED. A PERSON WHO BIDS AT THE AUCTION
ON BEHALF OF ANOTHER PERSON MUST PRODUCE A LETTER OF AUTHORITY AND
REGISTER IN THE NAME OF THAT PERSON.
VEHICLE HANDLING FEE
There will be a vehicle handling fee (inclusive of VAT) payable as set out below. Please
take note that the registration documents (NATIS) will be available upon payment. The
Bank will advise the local authorities regarding change of ownership. The onus is on the
client to register the vehicle within 21 days into his name.
Handling fee: R2000.00 Including VAT
All bids INCLUDE VAT.
Each & every vehicle will be sold as is, where is, with no guarantees of warranties, express or
implied. All information regarding the vehicles on auction are statements of opinion
only and shall never imply any guarantee as to the correctness of completeness of any
information supplied either verbally or in writing about any vehicle. Mileages supplied are not
guaranteed and should be checked by the purchaser. The auctioneer's role is final and
NOTICE OF ATTENDEES
The activities on the premises and the conduct of third parties and any registered bidder shall so advise his
agents and employees. No persons shall have any claim against ABSA, the Auctioneers, their agents,
employees or principals for any injuries sustained, nor for damages to or for loss of property
which may occur from any cause whatsoever.
THE BANK/AUCTIONEER RESERVES THE RIGHT TO REVOKE ANY AUCTION PROFILE AT ANY TIME.
THE BANK/AUCTIONEER ARE NOT RESPONSIBLE FOR ANY ERRORS IN DESCRIPTION.
ALL GOODS ARE SOLD VOETSTOOTS AND NO GAURANTEES OR WARRANTIES APPLY.
NO CANCELLATIONS WILL BE ENTERTAINED. (FORFEIT DEPOSIT)
As this is an online auction with a defined expiry date/time, it is important to place your best bid before the close of the auction.
Should you wait until the last second you may experience a slow internet connection from your internet provider,
and may run the risk of your bid not being placed in time.
Auctions will extend for 5 minutes if a bid is received within the last 2 minutes of the auction.
Auctions will extend no further than 09h15 on the last day of the auction
ALL ASSETS ON AUCTION ARE SUBJECT TO A RESERVE PRICE.