Movable Assets AUCTION WITH RESERVE SUBJECT TO SELLER CONFIRMATION AUCTION SITE: 237 POTGIETER STREET PRETORIA CENTRAL, GAUTENG AUCTION DATE: 15 FEBRUARY 2012, 10 h 00 SELLER: BITLINE SA 165 CC
Rules of the Auction RULES OF THE AUCTION: MOVABLE ASSETS 1. A prospective bidder cannot participate in the bidding process if not registered as a bidder and in possession of a bidder’s number. Registration will take place at the front desk before the action commences. 2. By bidding, the bidder confirms that he/she has read, understood and agreed to the Conditions of Sale and that he/she is bidding for the TOTAL of the movable assets listed in the Inventory annexed to the Agreement of Sale "AS IS". The immovable property is NOT on auction and is excluded from the deal. 3. In terms of Section 55(1) of the Consumer Protection Act, the "cooling off period" does not apply to goods bought on auction. 4. Currency is South African Rand. 5. The Seller is a VAT vendor. VAT will be calculated at 14% of the purchase price. 6. This is an Auction with Reserve. If the Reserve price is met, the movable assets are sold to the highest bidder and an Agreement of Sale is concluded. In the event that the highest bid falls short of the Reserve price, the Seller shall have 2 business days to accept or reject the Offer to Purchase. The Offer to Purchase shall be deemed to have been accepted when the Seller signs the Offer to Purchase. 7. On the fall of the hammer, the highest bidder (the "Purchaser") is bound to his Agreement of Sale or Offer to Purchase. The Purchaser, or his representative with an written Power of Attorney, shall complete and sign the Agreement of Sale or Offer to Purchase immediately thereafter at the Auctioneer's front desk. 8. The Purchaser may not alter, amend or withdraw the Agreement of Sale or Offer to Purchase. PAYMENTS 9. The Purchaser shall be liable for the payment of - 9. 1 The purchase price plus VAT, payable into the trust account of the auctioneer’s attorneys. 9. 2 The auctioneer’s commission (calculated at 10% of the purchase price) plus VAT, payable into the trust account of the auctioneer’s attorneys. 10. The Purchaser shall make payment – 10. 1 Where the Reserve price is met: Within 2 (two) business days from the date of the Auction; or 10. 2 Where the Reserve price was not met and an offer to purchase was made by the Purchaser: Within 2 (two) business days after date of signature by the Seller of the Offer to Purchase. DELIVERY AND RISK 11. The Purchaser shall be responsible for the collection of the goods within 5 (five) business days from date of signature of the Agreement of Sale or Offer to Purchase, subject to the clearance of the payment by Nedbank Limited, the trust account bank as set out in clause 9 above. 12. Should the Purchaser fail to collect the goods as set out in clause 11 above, the Seller shall be entitled to deliver the goods to the Purchaser's address as per the Agreement of Sale or Offer to Purchase and the Purchaser shall be liable to the Seller for the costs of such a delivery. 13. The risk and obligations relating to the goods shall pass to the Purchaser on date of signature of the Agreement of Sale or Offer to Purchase. OTHER 14. The conduct of the auction is subject to the control of the Auctioneer of the day who has the sole right to regulate the bidding procedure. 15. The rules of the auction meet the requirements as set out in the Consumer Protection Act, Act 68 of 2008 (“the Act”) to the best of the Auctioneer’s knowledge. Version GP 01/12
Inventory WORKSHOP EQUIPMENT AND TOOLS 3 x 4 Post lifts (blue) 1 x Wheel alignment lift (red) complete with 4 heads and computer 2 x Work benches with a vice each 1 x Big angle grinder 1 x Baby angle grinder 1 x Nut runner (airgun) 2 x Hand shock compressors 1 x Press drill 1 x Hand drill 1 x Bending machine with tooling 2 x Co 2 welding sets complete 2 x Acetylene/oxygen cutting sets 1 x Compressor with installation complete 1 x Bench grinder 1 x Pipe cutting machine 1 x Metal bench sanding machine 1 x Under car trolley creeper 1 x Guillotine 1 x Mezzanine metal frame structure 2 x Bokkie units 2 x Loose bokkie units
Inventory 4 x Jacking stands (Blue) 1 x Hydraulic body frame repair kit 1 x Battery stand 2 x Advertising stands/display stand 1 x Water spray cooling can 11 x Fire extinguishers (recently serviced) 2 x Mobile ramps 1 x Floor mob cleaner bucket/unit 1 x Fridge 1 x Kitchen counter 1 x Shock clamp SPANNERS 3 x Toolboxes with assorted spanners, lead lights, extensions, helmets, etc. OFFICE FURNITURE 1 x Complete office workstation 2 x Sliding door office cabinets 1 x Typist chair 2 x Office chairs 1 x Samsung printer 1 x UPS
Inventory RECEPTION FURNITURE 1 x Set of security system equipment 2 x Reception counters workstation 1 x Reception typist chair 1 x Gasket stand 2 x 2 Seated reception bunks 2 x 1 Seated reception bunks 4 x Double door steel cabinets (one standing in kitchen) 1 x 4 drawer steel filing cabinet (in kitchen) 1 x Clock card machine
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