By signing this auction registration form, the signatory:

1. Acknowledges and agrees that he or she will not be permitted to place a bid until the Auctioneer’s registration fee has been paid in full or has been satisfactorily secured; this registration charge is refunded if the bidder is not the highest. The undersigned further understands that the registration fee will be applied toward the signatory’s payment obligations under the provisions of the Offer to Purchase that the Signatory will execute in accordance with the auction, should the Signatory be the successful bidder.
   
   
2. Accepts responsibility for complying with the Financial Intelligence Centre Act 2001 (Act No. 38 of 2001) and the Money Laundering and Terrorist Financing Control Regulations by returning any money paid to the auctioneer, whether it be the registration fee or the remaining deposit due under the terms of the sale, to the bank account from which it was received.
   
   
3. Acknowledges having read, comprehended, and agreed to be bound by the terms and conditions of the auction, the rules of the auction, as well as having complied with FICA requirements by scanning and emailing copies of his or her ID card, proof of address, and letter authorising them to sign on behalf of a legal entity. The bidder must identify themselves before the electronic or virtual auction.
   
   
4. Acknowledges and agrees that, in the case of lots subject to a reserve, should his or her bid be selected as the highest offer for any lot under consideration, it will constitute an irrevocable offer to buy the relevant lot at that price. The seller of the lot will have five business days, or as otherwise specified in the terms of sale, to accept the offer.
   
   
5. Acknowledges and comprehends that if his/her bid is the highest for any lot that has not been put up for reserve and is knocked down, the lot will be assumed to have been sold to the winning bidder at that price.
   
   
6. Recognises and agrees that, in line with Section 3(1) of the Alienation of Land Act 68 of 1981, any sale of immovable property made at public auction is binding on the bidder and is not required to be documented in writing.
   
   
7. Despite the information in paragraph 4 above, the bidder acknowledges and understands that if their offer is the highest one for a particular lot, they will be required to sign the auctioneer’s conditions of sale by public auction, which cannot be changed in any way. The bidder also acknowledges that they are familiar with the terms of the agreement.
   
   
8. Acknowledges that, unless otherwise stated, a buyer’s premium of 10% + VAT will be due in addition to the bid price should his or her bid be accepted as the highest bid for any lot that is being bid on. The bidder also understands that, unless otherwise specified, a 5% deposit will be due on the fall of the hammer should his or her bid be accepted as the highest bid for any lot that has been put up for bid.
   
   
9. In the event that he or she is bidding on behalf of another person, business, close corporation, or trust, he or she guarantees that he or she has the necessary authority to do so and to bind that party to any ensuing sale. Upon request, he or she will also provide written documentation of this authority.
10. Recognises that if the auctioneer declares a bid to have been knocked down, the announcement will be construed as the hammer falling, and the bidder will be responsible for performance.
    
    
11. The auctioneer will make every effort to adhere to the rules of a virtual or electronic auction, but it cannot be held responsible for any damages (direct or indirect) that may be discovered to have been sustained by the bidder as a result of any failure to comply with these rules. Neither the agent’s negligence nor willful misconduct shall support such a claim.
    
    
12. The bidder (on behalf of the Purchaser) acknowledges that it was given a reasonable amount of time and opportunity to inspect the Property prior to the start of the auction as contemplated by Regulation 28(5)(b) of the CPA.
    
    
13. The Parties agree that the auction will be held in accordance with Regulation 30 of the CPA and that it will meet all standards for auction sales as they have been properly adjusted to apply to a virtual or electronic platform, including:
    • Anyone older than 18 has had access to the appropriate platform.
    • The platform offers industry-level security standards for online transactions.
    • All records mandated by the Regulations can be easily accessed through the platform in a commonly used or acceptable format.
14. 
    The bidder further acknowledges that he or she has viewed the property and has determined its condition after receiving a thorough virtual or electronic tour of the property, and that he or she is satisfied that he or she has exercised his or her right to inspect the property before the auction starts.
15. The Auctioneer may demand that documents be executed electronically using a digital signature and/or instantaneous remote viewing in addition to the exchange of documents using electronic methods (such as scanning and emailing).

DISCLAIMER

Although reasonable care has been taken in gathering the information in this document, neither the seller nor the auctioneer shall be liable for any loss, damage, or expense whatsoever or however caused, arising from reliance on any information provided, nor do they guarantee the completeness or accuracy thereof, with the onus always remaining on the purchaser to conduct its own due diligence inspections relating to the property or properties referred to herein.

The Auctioneer will make every effort to adhere to the laws governing virtual/electronic auctions, but it cannot be held responsible for any damage (direct or indirect) that may result from any failure to do so, even if it is later determined that the damage was suffered by a third party.

In the event that the successful bidder fails to comply with any of the rules of auction including but not limited to fully completing and/or signing the conditions of sale and/or paying the deposit and/or buyers fee and/or withdrawal of the successful bid, the successful bidder shall be liable to the Auctioneer for predetermined damages in the amount of R100,000.00 (One Hundred Thousand Rand) (made up of, inter alia, the registration fee, advertising costs, and auction costs). The parties acknowledge that this amount represents a reasonable estimate of the damages suffered by the Auctioneer as a result of such conduct. The successful bidder agrees that the predetermined damages shall be payable to the Auctioneer as liquidated damages and not as a penalty. Should the Auctioneer be in possession of the successful bidder’s registration fee and/or a deposit, the Auctioneer shall be entitled to recover any and all of its damages from such amount held and, should such damages exceed this amount, thereafter recover any such balance from the successful bidder as above.

IMPORTANT NOTICE

Should you be the highest bidder on any lot during the auction dated above, you will be required to remit the following payments immediately upon the fall of the hammer:

• 5% Deposit: This amount will be transferred to the conveyancing attorneys upon acceptance by the seller.
• 10% Commission + VAT: This amount is in addition to your purchase price.

REJECTED BIDS:

Refunds will be processed by COB on the first Friday after written confirmation is received that the offer was rejected.

UNSUCCESSFUL BIDDERS:

Refunds will be processed by COB on the first Friday after the receipt of a valid bank confirmation letter.

Please note – Refunds will only be processed with a valid bank confirmation letter. Please attach your bank confirmation letter.