Special Terms
TERMS AND CONDITIONS
1. Ollive’s Auction reserves the right to amend, revise as well as dismiss any or all of the subsequent terms and conditions at commencement of the auction. All announcements with regards to terms and conditions of the auction sale made during the auctioneering period will precede over any information that was previously rolled out.
2. Prior to the advent of any bidding, every eventual Buyer is expected to register at the auction office with all the requisite documents including a government issued photo identification card. After registering, the Buyer, cum bidder will receive a bid book that comes with a select bid number that will be used solely during the auction process. The bidder is expected to claim responsibility of the bid book all through to avoid any mishaps.
3. Ollive’s Auction holds the right to (a) sell as a representative for third parties, its account or that of others during the auction process; (b) sell subject to reserve as well as bid on its own as well as for others with a proxy document being presented before the sale; (c) revoke the submission of a bidding card, refuse bidding privileges and (d) can revoke any privileges without having to submit an explanation for any lot or consolidate any losses while offering them as a singular lot.
4. Ollive’s Auction does not allow for a person to bid for a lot on which they own as well as if any bidding on behalf of the owner is revoked.
5. After the submission of the bid, the Buyer is assumed to have based their decisions entirely on their research, inspection, and analysis of any lot.
6. Any dispute arising from any bidding shall be resolved by the auctioneer at their sole discretion.
7. Ollive’s Auction has submitted all the requisite descriptions with due regards to the lots both correctly and completely, for enlightenment and guidance purposes, these descriptions are a guide only. Ollive’s Auction does not warrant or guarantee the description to be complete, accurate, or correct, as they are subject to modifications. There shall be no withdrawal of any sale / bid and Ollive’s Auction will take zero liability for any inaccuracy or deficiency that may come with the lot.
8. Every auctioned lot is sold on an "AS IS, WHERE IS" with no insurance being implied or given during the auctioneering process. Understand that every item that is auctioned on the aforementioned basis dismisses any claims of representations or warranties (unless said otherwise) on an expressed or implied agreement which may include but not limited to title warranty, fitness for purpose, quality of materials, absence of latent defects, freedom from infringement, purpose, operation, condition addendum to design.
9. The auctioneer shall accept the highest bid and the highest bidder shall be the buyer (the “Buyer”). Immediately upon acceptance of the highest bid, the Buyer cannot retract or revoke its bid and is responsible to pay the bid amount. ALL SALES ARE FINAL.
10. The auctioneer, at its discretion, may also take payment in the form of wire transfers, bank draft, certified cheques, debit card, e- Transfer or cash.
11. All bids as well as invoices will be submitted in currency form with the auctioneer announcing. The Buyer’s premium subjected for every Buyer will be charged as written in the bid book / posted online.
12. All applicable taxes will apply to the purchase price Including good and services, provincial retail sales and federal sales taxes. Buyer is responsible for any exemptions with the applicable authority.
13. Sales below the price of $10,000 CDN must be paid in full after the bid is successful. Any sale exceeding the amount above will require the bidder to place a 25% deposit of the set purchase price upon the bid acceptance with the purchase price balance being paid within two days after successful bid. The bidder is tasked with paying the interest accrued on the remnants which is analyzed on a monthly basis from the date of reneged payment. The annual interest rate is set at 24% with any purchases made being limited to set fees noted in the bid book used.
14. The Buyer is not at liberty to possess any lot until they have completed the payment with all the requisite payments being made before the release and the removal of the lot from the site of the auction. No lot will be removed from the site without the paid auction bill being presented to the auction staff. The bidder is not allowed to assign, transfer, or dispose of any buying rights of the lot before paying the set purchase price. Any passes on the title will be made upon paying the entire purchase price, and Ollive’s Auction is not liable for any loss or as well as any damage as soon as the lot is passed to the Buyer after paying the purchase price.
15. In the case that the bidder fails to pay a set or whole amount of any lot within the set period as well as refuses to adhere to the set regulations and conditions of sale, any monies remitted to the auctioneer will be forfeited notwithstanding. Ollive’s Auction will retain the right to possession as well as any other lots purchased by the bidder and will be granted the right to resell the lot without any permission from the Buyer in either a public or private sale. The bidder will be responsible for (a) at least 20% of the set price addendum to any Buyer premium with such amounts being paid by the bidder to Ollive’s Auction upon notice or (b) any deficiency as well as the costs incurred during the reneging of the payment (fees and maintenance expenses). A non-refundable clause is activated for all reneged payments that may be netted from any of the set liquidated damages which will be activated in good faith. The damages will be estimated reasonably and genuinely to determine the costs that stem from the failure of the Buyer to pay the full purchase prices as well as the costs that come with the resale of the bid lot.
16. Any paid bid shall lead to the removal of the product or service from the site of auction unless otherwise stated in the agreement with Ollive’s Auction. If the bidder fails to remove the lot as previously agreed prior with the firm, Ollive’s Auction holds the right to resell the lot or store the lot at the expense and risk of the Buyer. The remission of the payment of purchase price from the Buyer will inadvertently lead to the storage fees being set off after which it will be credited to the account of the Buyer. The fees and costs Incurred for storage purposes are evaluated in good faith, with reasonable as well genuine estimates being submitted to the Buyer prior to the sale in order to ensure that they remove the auctioned good within the agreed-upon period.
17. All costs, responsibility, and risk of removal of the lot Including but not limited to dismantling, loading and moving is the Buyer’s responsibility. In every case Buyer shall use prudence in effecting removal and comply with all laws and regulations. Where damage has occurred due to removal, Buyer must restore all property and lots to the state prior to damage.
18. It is imperative that insurance coverage is activated for the lot immediately after claiming ownership. The auctioneer has the inherent and legal right to ask for proof of indemnity before giving the lot to the Buyer. This is vital as it limits any costs to be incurred during litigation over damage or falsified descriptions.
19. Ollive’s Auction will take the initiative of submitting all the indispensable documents that are related to the lot to the Buyer within a period not exceeding ten days. The documents provided will be legitimate only in the auction’s province.
20. In the case that Ollive’s Auction is unable to effectively deliver the lot to the Buyer, the required documentation as well as the title; Ollive’ s Auction holds the overarching liability of returning all the money paid as well as clearing the lot for new ownership.
21. Ollive’s Auction has the overarching duty to ensure that all hazardous, as well as toxic substances are contained to avoid contamination. The Buyer is tasked with ensuring that they determine the nature as well as the risk of any lot and as well as assuming all responsibility.
22. An auction site is a dangerous place, and it is under constant surveillance with the presence of different life-threatening materials. Heavy equipment and electrical circuits are also present, and they require much care and attention when being operated. Every individual in the auction site prior to, during as well as after the auction understands that they are at the site of the auction at their own risk with entrance into the site meaning that they assent to the manner, activities as well as circumstances of the area.
23. Ollive’s Auction will not be held liable for any losses of any kind with allegations being deemed null and void without any regard to the agreements.
24. As a bidder/buyer, you acknowledge the need to assure, defend as well as not blame Ollive’s Auction. and any of its partners against any and all disparities.
25. An agreement has been forged between all parties that any dispute arising will be brought forward to the Province of Alberta with all parties yielding and submitting to the decisions of the court after that.
26. Every individual participating in this auction is, by nature, bound by the terms above and conditions with the buyers being under advice of their affiliates and shall be held responsible for their fiscal decisions.
