USERS AGREEMENT - Terms & Conditions

The following “Users Agreement” sets out the terms and conditions by which Lloyds Auctioneers and Valuers Pty Ltd (Lloyds) allows you to use the services on this Website.

When you register as a customer, place a bid, or take any action on the Lloyds Website, you acknowledge that you have read and accepted the terms of this Users agreement.

We strongly advise you to read this Users Agreement carefully and review the Users Agreement before taking any action on the Lloyds Website so that you are aware of the terms and conditions, which govern those actions, at that time.

1. General

1.1 This Users Agreement sets out what you are permitted to do and what is not permitted. A breach of the agreement (among other things) may result in us disabling your account and preventing you from being able to use our service.

1.2 Lloyds may, from time to time, be required by law, industry standard or company policy to update and amend this Users Agreement. These changes will be updated on the Lloyds Website and will take effect, automatically and immediately, from the time of publication of this Users Agreement on the Lloyds Website. By continuing to use this Website, you are taken to have accepted the terms of the Users Agreement at the time when you take any action on the Website, so we strongly recommend that you acquaint yourself with it on a regular basis and prior to taking any action on the Lloyds Website.

1.3 Individual auctioneers may have specific terms and conditions that apply to your relationship with them, which may relate to the specific jurisdiction they operate in or the types of Lots they sell. The terms of the agreement with the specific auctioneer will be read to act in conjunction with this User Agreement. Where there is an inconsistency between this User Agreement and the agreement you have with a particular auctioneer, the terms of the particular auctioneer will prevail.

1.4 The Purchaser acknowledges that Lloyds acts as the authorised agent of the Vendor and that any rights of action the Purchaser may have regarding the Lots purchased lie against the Vendor, not Lloyds.

1.5 Customers must abide by any obligations contained in the Work Health and Safety Act 2011 (Qld), Work Health and Safety Act 2011 (NSW), Work Health and Safety (National Uniform Legislation) Act 2011 (NT), Work Health and Safety Act 2011 (ACT), Work Health and Safety Act 2012 (SA), Work Health and Safety Regulation 2011 (Tas) Occupational Health and Safety Act 2004 (Vic), Occupational Safety Act and Health 1984 (WA) and the Work Health and Safety Act 2011 (Cth), as well as any amendments to those Acts or other enactments dealing with the subject matter of those Acts.

2. Service Usage

2.1 The service is provided to you and you alone, personally and (if applicable) in your capacity as a director or authorised representative for the bidder that you register under on our website. You acknowledge and undertake that all actions taken on Lloyds’ website, while registered are taken with your express authority and that you will be held liable for those actions personally.

2.2 We are permitted to remove any information on our site that Lloyds deems to contravene any law or regulation.

2.3 If you engage in fraudulent activity or activity which Lloyds considers to be fraudulent, likely to deceive or offend, then Lloyds may disable your account and take any such further action as it may deem appropriate (in its absolute and sole discretion) to remedy any damage caused.

3. System Stability & Integrity

3.1 Lloyds undertake at all times to do what we can to maintain a level of service with equal access to all.

3.2 You undertake not to do any act intended to interrupt the service provided by this site.

3.3 Lloyds cannot guarantee continuous or secure access to its website, while Lloyds will use all reasonable methods to maintain uninterrupted services, Lloyds offers no guarantee or promises as to same.

3.4 In the event of a software failure, system failure, technological, processing problems or general faults which do not give all Bidders and Vendors the intended opportunities to either bid on or sell a Lot listed on the Lloyds website, then Lloyds may, in its sole discretion, cancel any specific bids, an auction, a sale, an invoice or otherwise not deliver Lots.

3.5 Lloyds will notify the Purchaser of the cancellation of the transaction due to any software failure, system failure, technological, processing problems or general faults. In that event, Lloyds reserves the right to cancel any bids. Lloyds will cancel, reverse or refund any Buyers Premium on any bid cancelled by Lloyds due to any software failure, system failure, technological, processing problems or general faults.

4. Registration

4.1 You warrant that you are able to form a legally binding contract.

4.2 You must register with Lloyds in order to use the services offered on the Lloyds Website. A valid website registration must include your name, address, email, password and phone number. Additionally,

(a) You must not provide false or misleading personal information.

(b) You will endeavour to maintain your personal information is accurate at all times, updating your address and contact information as and where applicable.

(d) You must be over 18 years of age.

4.3 Your personal information provided during the registration process will only be used in the manner stipulated in our Privacy Statement.

4.4 If we disable your account, you may not register again.

5. Lloyds as an Agent

5.1 Lloyds acts as an agent for the Vendor and is therefore not responsible for any default or failure to perform obligations by the Vendor.

5.2 You acknowledge that all Vendors instruct and authorise Lloyds to:

(a) sell the Lot as the Vendor’s agent in accordance with these Terms and Conditions;

(b) receive and hold all Sale Proceeds on the Vendor’s behalf;

(d) allow the Lot to be inspected by prospective Purchasers prior to the auction, at a time, manner and/or location suitable to Lloyds.

5.3 If any dispute arises in relation to a Lot, the dispute is between you and the Vendor. You agree that Lloyds is in no way involved or party to any claim, action, tribunal or court proceeding in respect of that Lot and you indemnify Lloyds, on a full indemnity basis, from all liability, including all costs incurred by you in relation to such claim.

6. Governing Law

6.1 You are required to abide by all applicable laws, statutes, and regulations regarding the use of our services, including those in relation to bidding for and purchasing Lots.

6.2 The proper law governing the interpretation and enforcement of these Terms & Conditions including all substantive rights and obligations are the laws of Australia and the State of Queensland.

6.3 All rights and remedies available to the parties against each other under the general law are subject to these Terms & Conditions.

6.4 If any of the terms or conditions in these Terms & Conditions are to any extent held by any court of competent jurisdiction to be invalid or unenforceable, the remaining terms and conditions will not be affected thereby, and will remain in full force and effect.

7. Rights and Obligations

7.1 Prior to placing a bid it is your responsibility to make yourself aware of the specific auction conditions surrounding each Lot, especially, but not limited to, the currency specified, the location of the Lot, its condition, payment options and the time in which it must be collected.

7.2 A bid placed at auction online via the Lloyds auction bidding portal, by absentee bid via phone or other agreed-to voice communication apps, or in person, is an offer to purchase. Once a bid has been accepted by the auctioneer there is a binding contract between you and the auctioneer to purchase the Lot at the final bid amount plus any additional fees and charges associated with that Lot.

7.3 Photographs and descriptions of Lots are provided by Lloyds as guidance only and you should avail yourself of the inspection times, manner, and/or location to assure yourself of the exact nature and condition of the Lot you are bidding on before placing a bid on the Lot.

7.4 By placing a MaxBid, you are taken to authorise Lloyds to accept those incrementally higher bids up to the value of your MaxBid. Lloyds’ bidding system will not place any incremental bid higher than the MaxBid you place. It is therefore recommended that you continue to monitor the Auction to ensure that you adjust your MaxBid appropriately to be always the highest bidder. Lloyds’ list of bidding increments is set out at the end of this Users Agreement.

7.5 If you engage in any activity, either solely or in concert with another, aimed at manipulating the final bid price or corrupting the bidding process, Lloyds may immediately, in its sole discretion, terminate your bidding privileges. To this end, a bid cannot be withdrawn or amended once placed. Lloyds reserves the right to commence proceedings or otherwise enforce its rights against you in respect of any loss or damage caused to Lloyds as a result of such manipulation or corruption of the bidding process. Further, by placing a bid or purchasing a Lot, you agree that Lloyds may also claim from you on an indemnity basis any costs incurred in enforcing Lloyds’ rights against you arising from such conduct.

7.6 No employee or agent of Lloyds is authorised to waive, add to or vary these conditions without the written authority of a Lloyds’ Director.

7.7 It is a site option or preference to receive outbid notices and successful bid notices. These notices are provided for your information only. the notices are automatically generated. Failure to receive such notices in no way impacts your obligations under the terms and conditions of this Users Agreement.

7.8 Any Lots listed for Auction on the Lloyds’ website may have reserve prices. The reserve price is not met unless an email or text is sent confirming a successful purchase. If the bidding has not reached the reserve, then the Auctioneer will refer the highest bid to the Vendor. If the vendor declines the under-reserve top bid or makes a counteroffer, the highest bidder may be contacted and offered the first right of increasing their final bid to meet the reserve, vendor counteroffer or first right of refusal in any referred bids process. Once the bidder has refused any further counter offers or negotiations then the Auctioneer shall declare the goods open for negotiations with other potential underbidders or purchasers.

7.9 Subject to any reserve price, the highest bidder shall be the Purchaser and in the event of any dispute arising, the Lot may be reoffered. The Auctioneer shall be the sole arbitrator and the Auctioneer’s decision shall be final in all matters relating to the Auction.

7.10 The Purchaser shall complete the “Conditions of Sale” as set out in Lloyds’ written policy. In default of these conditions, the Auctioneer reserves the right to immediately resell or re-lot such Lots as they deem fit, in a subsequent Auction and recover from the defaulting bidder any and all lost Buyers Premium, Commission and other associated costs including debt recovery and legal fees on the indemnity basis together with any shortfall on the subsequent sale price which the Vendor suffers as a result of the default.

7.11 Lloyds warns Bidders that Lots offered for sale at Auction may not be fit for use in any workplace and that the Bidder is responsible to ensure compliance with all necessary requirements under the relevant legislation, and that the Lot is fit for its intended use in the workplace prior to being used for its intended purpose. Lots must be given a safety inspection prior to operation in any workplace when it is purchased at auction. A Lot not meeting the requirements of a particular workplace, safety inspection, or any law regarding workplace safety will not void the sale.

8. The Auction Process

8.1 You must register with us to enable you to bid on any auction. Various auctions may require a registration fee which must be paid before any bids can be placed on that particular auction.

8.2 In placing a bid, you are taken to have accepted the specific terms and conditions of that particular auction and that particular Lot.

8.3 Every auction has a specified auction date and starting time.

8.4 There are various auction types and it is important to be aware of them as they will impact the way bids can be lodged and accepted.

(a) No Online Bidding – these are traditional live auctions, which are typically held in remote locations or have special conditions which prevent us from being able to offer online bidding. The information provided is there to help you in assessing the Lots prior to the live auction.

(b) Internet & Absentee Bidding Only – these are online auctions where there will be no traditional live auction. The only ways to bid will be online via the Lloyds auction bidding portal and by absentee bid via phone or other agreed to voice communication apps if made available by Lloyds for a particular Auction and detailed on its website as available for use in that Auction. You will be able to follow the online auction as each Lot is sold, one by one. You do not have to wait for the Lots you are interested in to be offered as you can leave a maximum (MaxBid) bid on any Lot at any time.

(c) Live with Pre-Absentee Bids Accepted – this will essentially be a traditional live auction. You will be able to place an absentee bid via the website, however, the online bidding will close prior to the commencement of the live auction. This means you may be outbid at the live auction.

(d) Complete with All Bidding Options – these auctions are traditional live auctions. You can bid in person at the live auction or bid online via the Lloyds auction bidding portal or by absentee bid via phone or other agreed-to voice communication apps if made available by Lloyds. The website will follow the live auction as it progresses lot by lot; allowing you to watch and bid on each lot as it is being sold.

8.5 Bids placed on the website can either be at one bid increment above the current bid amount or at a greater amount.

8.6 Lloyds reserves the right to set the starting bid at any level, in the absence of such a minimum price being placed, the minimum will be $1.

8.7 A multiple Lot is one where the quantity in the quantity field is greater than one (1). On a multiple Lot, the bidding is per unit. For example, for a 12 x Dining Chair Lot, a bid of $10 for a quantity of 8 will obligate the bidder (if successful) to pay $10×8 ($80) plus any associated charges.

8.8 The Bidder acknowledges that any software included in sales of computer equipment may be under licence to the Vendor and that the terms and conditions of the License may restrict the use and transfer of the software. The Bidder acknowledges that Lloyds does not offer title to any such software, and it may or may not remain the property of the Vendor. The inclusion or non-inclusion of any particular software will not void the sale of the Lot.

8.9 As an international bidder bidding on assets outside of your home country, you may bid in your native home country currency as you have set in your Lloyds Auctions bidder's account. The exchange rate between your native currency and buying Australian Dollars as published on https://exchangeratesapi.io as at the time of placing your bid will be used to calculate the equivalent Australian dollar bid price for the purposes of determining the winner of the auction. The exchange rate will be recorded at bid time and used when you subsequently pay for your lot if you become the winning bidder.

8.10 At time of settlement, you will pay Lloyds Auctions the native currency bid price plus any commissions and other specified charges, within the Lloyds settlement period. There will be no rise or fall adjustment to the native currency bid price for any subsequent change to the 'buying Australian Dollars' exchange rate after you placed your bid. The payment will be converted to Australian dollars. Your bank may add currency conversions fees and currency exchange rate adjustments outside of the control or influence of Lloyds Auctions.

8.11 As the winning bidder of an asset located in a country other than your home location, you will be responsible for any and all import duties, taxes, Value Added Tax (VAT), Sales Tax or Goods and Services Tax (GST) or any other local home Country, State, County or City or local Government jurisdiction tax, fee, duty or other Government charge.

8.12 Lloyds may, at its sole discretion, cancel an auction, close it early, or reschedule an auction for any reason, including where a Lot is sold after the falling of the hammer. If Lloyds terminates the sale after the Lot(s) have been sold by auction, the Purchaser will be entitled to a refund of any deposit or payments it has made towards the purchase of the Lot(s); however, the Purchaser will not be entitled to enforce the sale of the Lot(s).

8.13 An individual Lot may be withdrawn from a particular auction or moved from one auction to another at Lloyds’ absolute discretion.

8.14 Bids will be ordered according to the following factors:

(a) the $ bid amount;

(b) bid quantity bid amount (multiple Lot only);

8.15 Upon becoming the successful bidder, the Purchaser shall assume all risks against loss or damage for any lots. Lloyds accepts no responsibility after the fall of the hammer for insuring against loss or damage of any lots purchased by the Purchaser.

8.16 Ownership and title shall not pass to the Purchaser until all lots are paid for in full. Lots will not be available for removal upon part payment.

9. Auction Closure

9.1 The auctioning of a Lot closes at the end of the time specified for that Lot where there are no new successful bids within the closing time of the auctioning of the Lot. This may vary from auction to auction and will be specified on the Lot Details page if there is any variation.

9.2 If there are any successful bids on a particular Lot within the active Lot auctioning time, the countdown timer will be reset. When an auction is live the Lot Details page will refresh the current bid amount and estimated closing time every few seconds. Some variation in the “Closing time” will be experienced. This may be due to your connection to our server and consequently, we accept no responsibility for any consequences resulting from this variation. We highly recommend not attempting to place a bid in the final moments of the auction of a lot and expecting that bid to be received and placed before the Auction closes.

9.3 If, in your account preferences you have selected the option to receive successful bid notices, one will either be emailed or text to you, upon your bid being accepted. This communication is provided as a courtesy only.

9.4 Lloyds will advise you of any technical difficulties affecting an auction as soon as those have been identified by Lloyds.

10. Collection of Goods

10.1 All Lots purchased must be paid for and removed by the date and time specified in the conditions of sale for the Auction. In the absence of a date and time specified, all Lots purchased must be paid for and removed within three (3) days of the end of the Auction.

10.2 If the Lots purchased have not been removed by the date and time specified in the conditions of sale for the Auction or, in the absence of a date and time specified, the Lots purchased have not been removed within three (3) days of the end of the Auction, then on the subsequent days the purchaser shall be charged a storage fee per uncollected lot until collection by the purchaser, calculated at a rate of $22.00 (including GST) per day.

10.3 Should the Purchaser leave their asset(s) at Lloyds and not communicate with Lloyds for over 60 days, Lloyds reserves the right to re-sell the Purchaser's asset(s) unreserved at a public Auction, recouping any outstanding costs, fees, charges, legal fees, and communication costs from the sale, with remaining funds held in trust until they can be legally transferred to the purchaser, the purchaser's beneficiaries, or the State based Public Trustee.

10.4 No purchases may be removed from Lloyds or Lloyds controlled areas until goods have been paid for and the collection has either been arranged in person or electronically with a Lloyds team member, marking off the Lot as having been collected from the Lloyds auction system.

10.5 The Purchaser acknowledges that they are responsible for the safe collection of all Lots purchased. The Lots are the property of the purchaser upon settlement, and it is the sole responsibility of the Purchaser to provide adequate & appropriate equipment and labour to safely collect any Lots purchased.

10.6 Lloyds' auction team members are provided by Lloyds to assist in identifying Purchaser's goods. Those team members are not responsible for loading or safely securing goods onto the Purchaser's transport, which is the duty of and at the risk of the Purchaser.

10.7 The Purchaser acknowledges that if they change their mind after selecting and paying for freight of their won asset(s), then a voucher with a three-year validity will be provided to the Purchaser onto their Lloyds account within two business days of their request if the asset has not been picked and shipped by Lloyds. Alternatively, if a refund is still requested and required by the Purchaser, then a $22 handling fee will be deducted from the freight / shipping fee already charged and paid for by the Purchaser, to reimburse Lloyds for the handling and booking of the freight for the asset(s) to that point, reducing the refunded amount of the freight / shipping.

10.8 If the Purchaser has booked and paid for the transport of larger items such as a vehicle, and the Purchaser has a change of mind, then a refund may be requested if the booked asset pick up time and date is greater than 48 hours from when the request is received and acknowledged by Lloyds. Such a refund will incur a $110 Lloyds handling fee, reducing the refunded amount.

10.9 If "Port to Port" transport / freight is selected, you will be responsible for all costs associated with transporting your asset to your door from the selected destination port.

10.10 Our full terms and conditions of vehicle transport can be found by clicking here

11. Time Zones

11.1 The starting time for an Auction is specified as the time in the time zone of the hosting auctioneer. As you may be in a different time zone, every Lot has an estimated time in hours, minutes, and seconds until the auction for this Lot commences. This estimated time may be delayed at the discretion of Lloyds, primarily due to bidding activity on previous Lots.

12. Vendor Warranties

12.1 The Vendor represents and warrants to you and Lloyds that:

(a) it has good title to the Lot; and

(b) it has proper authority to sell the Lot.

12.2 You acknowledge that Lloyds relies on this representation and warranty in auctioning the Lot on behalf of the Vendor.

12.3 Lloyds will cooperate with the Purchaser to provide the known details of the Vendor so that the Purchaser may pursue the Vendor for any alleged loss or damage as far as allowed by law (e.g. Privacy Act 1988) and as lawfully court or tribunal directed..

13. Warranties and Disputes

13.1 Lloyds hereby disclaims all express or implied representations, warranties, guarantees, and conditions, including but not limited to any implied warranties or conditions of merchantability, quality, accuracy, completeness, fitness for a particular purpose, title and non-infringement, except to the extent that such disclaimers are held to be legally invalid in Australia.

13.2 Any statement as to the quantity of goods is approximate only and is as represented by Lloyds. Lloyds gives no warranty that quantities as stated are correct. In addition to any other rights, you may have, compensation for shortages in quantity shall be given if demanded in writing using Lloyds online request form before delivery and/or collection of the goods.

13.3 In the event of any dispute:

(a) The dispute shall be settled primarily by the Lloyds Auctioneer; then

(b) If an acceptable resolution cannot be found, the dispute resolution will be handled by the Lloyds Customer Relations Manager; then

(c) If an acceptable resolution cannot be found, the dispute resolution will be considered by the Lloyds Arbitration Committee if new information supporting the request is received.

(d) All communication of offers for resolution during any dispute resolution processes shall be in writing only. Any Bidders and Purchasers acknowledge that any verbal assurances or commitments allegedly made by Lloyds Team Members shall be considered invalid by Lloyds.

13.4 Lots are generally open for inspection prior to the commencement of the auction. It is assumed that the Lots that have been made available for personal inspection have in fact been inspected and are sold with all faults, if any. You assume the sole responsibility for determining whether the products/services are sufficient for your purposes regardless of whether or not a personal inspection is available. The Lots are sold on an “as-is, where-is” basis.

13.5 Except as otherwise provided by State or Federal law, no compensation, refund or discount shall be made in respect of any fault or error in the description of any Lots sold. No Lot shall be sold or deemed to be sold by description or photos on the website.

13.6 You acknowledge that the consumer guarantees stipulated in sections 54, 55, 56, 57, 58 and 59 of the Australian Consumer Law do not apply to the sale of goods by Auction. As a result, Lloyds and the Vendor make no warranties and give no guarantees regarding:

(a) the goods being of acceptable quality;

(b) the goods being fit for any disclosed purpose or any purpose for which the supplier represents they are fit;

(d) the availability of repairs or spare parts for the goods; or

(e) express warranties in respect of the goods made by the manufacturer being complied with.

13.7 You acknowledge that it is your responsibility to conduct a search of the Personal Property Securities Register (as applicable) and that search must be undertaken no earlier than the day prior to the day you bid for the Lot to ensure that there is no undisclosed encumbrance over the Lot.

13.8 You shall be solely responsible for obtaining any export licence that may be required in connection with a purchased Lot.

13.9 You shall be solely responsible for satisfying any import duties or taxes required to be paid in connection with a purchased Lot. Lloyds and the Vendor assume no liability for any costs associated with the Lot.

13.10 Unless expressly stated in any online or physical auction catalogue, listing, database, lot listing, or register, Lloyds makes no assurances, warranties or guarantees that any Lot complies with the provisions of any applicable State, Territory or Commonwealth laws. The Purchaser of a Lot who intends to use it on a public road or waterway shall be responsible for ensuring that it complies with the provisions of any road traffic or maritime Acts and Regulations.

14. Default

14.1 The Bidder must pay the final bid price plus the fees and charges associated with that purchase in the time limit specified for each auction and Lot. At Lloyds’ discretion, the Bidder may be required to pay a deposit upon the fall of the hammer or upon successful negotiation equal to the amount of the Buyer’s Premium payable.

14.2 In circumstances where Lloyds requires the Bidder to pay a deposit, the Bidder will be required to provide their credit card or debit card details to take the deposit on the Lot as and where required by Lloyds within 24 hours of the hammer falling. Lloyds is entitled to regard the failure to do so as a breach of these Terms and Conditions by the Bidder.

14.3 If any Bidder shall fail to comply with any of these Terms & Conditions or if any payment is dishonoured, any monies which such Bidder shall have paid to Lloyds on account of the purchase or purchases shall be absolutely forfeited to the Vendor and the Vendor and Lloyds shall be at liberty to sue such Bidder for damages, or at their option to resell the Lot in any manner and upon such terms and conditions as they think proper.

14.4 If the Bidder is in default of any of its obligations under these Terms & Conditions or any interdependent or separate agreement with Lloyds or the Vendor, Lloyds and the Vendor may:

(a) commence proceedings against the Bidder (without notice) for monies owing and/or to recover damages from the Bidder, including legal fees, debt collection costs and associated disbursements incurred by Lloyds, on an indemnity basis;

(b) without notice to the Bidder, resell the Lot or Lots in any manner upon such terms and conditions as it may think proper and recover all losses, costs and expenses incurred from any such resale from you by way of damages (including administration costs, marketing costs and other costs associated with relisting and negotiating with potential purchasers of a Lot), whether or not that amount exceeds the Purchase Price that was to be paid by you for the Lot or Lots and the amount of any commission lost on the original sale as the result of your default, and the cost of advertising in respect of any such resale;

(d) pursue the Bidder for the difference between the default bidding price and the subsequent sale price (if there is a loss to Lloyds), including the difference in the Buyer’s Premium.

14.5. Lloyds will be entitled to recover interest on any amounts owed to Lloyds by the Bidder under these Terms and Conditions. Interest will accrue at the rate of the corporate overdraft reference rate charged by the Commonwealth Bank of Australia at any particular time.

15. Returns

15.1 Lots purchased at auction may not be returned. No allowances, refunds or warranties are offered with any lot whatsoever whether express or implied.

15.2 A refund on an item may be approved if it has been significantly misrepresented and an inspection was not available. Minor differences, damage (including scratches, dents or impairments), aftermarket parts that cannot be easily verified does not qualify as misrepresentation. Change of mind does not constitute grounds for a refund.

15.3 If a Bidder needs to return a lot, we must be notified in writing using Lloyds online request form within 5 days of the Bidder receiving asset(s) shipped to them by Lloyds or within 5 days of the fall of the hammer at auction if shipping was not selected by the Bidder.

15.4 Refund approvals are conditional upon items being returned to your nearest Lloyds facility within 5 days of refund approval.

15.5 In the event that a Bidder is entitled to a refund under these Terms and Conditions, Lloyds will not be responsible for the transport of the Lot back to Lloyds’ premises.

15.6 Approved refunds may be paid either by credit voucher (to be used for future purchases with Lloyds) or refunded to your eligible payment method at our discretion according to our refund policies. Some categories of items sold are not available for refund under any circumstances.

16. GST

16.1 The Auction Detail Page and Lot Detail Page will state whether the bid amount, the Buyer’s Premium and any other fees are inclusive of GST (GST Inclusive) or exclusive of GST (GST exclusive).

17. Buyer’s Premium

17.1 You agree that every Lot will attract a Buyer’s Premium without set off.

17.2 The Buyer’s Premium must be paid in addition to the Purchase Price and all other Governmental charges or fees.

17.3 Lloyds will determine the Buyer’s Premium to be paid by the Bidder on each Lot and list the Buyer’s Premium on the Website.

18. Real Estate

18.1 Conditions Of Sale By Online Auction For Real Property In Victoria

Schedule 1

Regulations 4, 5

Sch. 1

Rules for the conduct of public auctions of land

18.1.1 The auctioneer may make one or more bids on behalf of the vendor of the land at any time during the auction.

18.1.2 The auctioneer may refuse any bid.

18.1.3 The auctioneer may determine the amount by which the bidding is to be advanced.

18.1.4 The auctioneer may withdraw the property from sale at any time.

18.1.5 The auctioneer may refer a bid to the vendor at any time before the conclusion of the auction.

18.1.6 In the event of a dispute concerning a bid, the auctioneer may re-submit the property for sale at the last undisputed bid or start the bidding again.

18.1.7 If a reserve price has been set for the property and the property is passed in below that reserve price, the vendor will first negotiate with the highest bidder for the purchase of the property.

18.2 Conditions Of Sale By Online Auction For Real Property In Queensland

18.2.1 Any person intending to bid must first register online with the auctioneer.

18.2.2 The highest approved bidder shall be the Buyer subject to the Seller's approval and the reserve price.

18.2.3 Lloyds Auctions may at their discretion refuse to accept any bid from any person, and no bid if accepted may be retracted without the consent of the auctioneer.

18.2.4 Immediately on closing of the auction the bidder of the highest bid accepted and reach reserve shall sign (and failing the same, the auctioneer shall sign on behalf of the buyer) the contract documents described in 7 and forthwith pay the deposit required and shall thereupon be deemed to be the Buyer, otherwise the property may be resubmitted at his or her risk and expense or submitted afresh to Auction as if the property had never before been submitted.

18.2.5 The Seller and the Buyer agree to do all necessary acts and to sign all documents and papers a for the purpose of transferring the property to the Buyer.

18.2.6 A bidder shall be deemed to be acting on their own behalf unless prior to bidding he/she has given the auctioneer a copy of a written authority to bid for, or on behalf of another person.

18.2.7 The conditions that apply are as contained in the applicable Real Estate Institute's copyright form of Contract and Terms of Contract for Residential House & Land Eighteenth Edition, Contract for Residential Lots in a Community Titles Scheme Fourteenth Edition, Contract for Commercial Land and Buildings Tenth Edition and/or any other contract of sale that has been viewed prior to auction. Clause 3, the finance clause, does not apply and Clause 4, the Building or Buyers Inspection Clause does not apply. All Bidders and more particularly, the successful bidder shall be deemed to have been given, and to have read and acknowledged the 'Disclosure Statement' under the Body Corporate and Community Management Act 1997.

18.2.8 The parties agree that the auctioneer may in its sole and absolute discretion determine any other matters relating to the auction.

18.2.9 The bidder consents to the use of electronic communication in accordance with the provisions set out in Chapter 2 of the Electronic Transactions (Queensland) Act 2001 (Qld) and Electronic Transactions Act 1999 (Cth).

18.2.10 In the event that the buyer is a corporate entity the directors and shareholders thereof shall personally guarantee all and every term and condition of the contract including payment of the deposit and balance purchase moneys upon completion to the intention that such personal guarantors of the buyer shall sign a form of guarantee at the time of signing the contract.

18.3 Conditions Of Sale By Online Auction For Real Property In New South Wales

18.3.1 The vendor's reserve price must be given in writing to the auctioneer before the auction commences.

18.3.2 A bid for the vendor cannot be made unless the auctioneer has, before the commencement of the auction, announced clearly and precisely that a bid may be made on behalf of the vendor by the auctioneer.

18.3.3 The highest bidder is the purchaser, subject to any reserve price.

18.3.4 In the event of a disputed bid, the auctioneer is the sole arbiter and the auctioneer's decision is final.

18.3.5 The auctioneer may refuse to accept any bid that, in the auctioneer's opinion, is not in the best interests of the vendor.

18.3.6 A bidder is taken to be a principal unless, before bidding, the bidder has given to the auctioneer a copy of a written authority to bid for or on behalf of another person.

18.3.7 A bid cannot be made or accepted after the fall of the hammer.

18.3.8 As soon as practicable after the fall of the hammer the purchaser is to sign the agreement (if any) for sale.

18.3.9 All bidders must be registered in the Bidders Record and display an identifying number when making a bid.

18.3.10 One bid only may be made on behalf of the vendor by the auctioneer on behalf of the vendor.

18.3.11 When making a bid on behalf of the vendor, the auctioneer must clearly state that the bid was made on behalf of the vendor.

18.3.12 Bidding by a co-owner or executor must be identified in the auction conditions.

18.4 Conditions Of Sale By Online Auction For Real Property In South Australia

18.4.1 The Auctioneer presents the Property for sale by Auction. The Auctioneer, as authorized by the agent acting for the vendor, presents the Property for sale by auction on behalf of the Vendor. An offer to purchase the property may be made by any person present in person or by proxy or representative ("Bidder") by making a bid at auction, subject to these Terms and Conditions

18.4.2 Bidders are bound by these Terms and Conditions By bidding at auction, a Bidder agrees to be bound by these Terms and Conditions

18.4.3 Vendor's Reserve Price

18.4.3.1 The Vendors reserve price ("Reserve Price") will be as recorded in the auction record.

18.4.3.2 In the event that the Reserve Price is not reached at auction, the Auctioneer and/or the Agent shall attempt to negotiate immediately with the highest Bidder to sell the Property and if no agreement is reached, the Auctioneer and/or agent will attempt to negotiate with other Bidders and then with any other interested parties.

18.4.4 Vendor may withdraw the Property from sale The Vendor may at any time before the property is sold at auction:

18.4.4.1 Withdraw the property from sale; or

18.4.4.2 Consolidate, divide, or otherwise alter the organization or arrangement of the Property in any way deemed convenient by the Auctioneer.

18.4.5 Cooling-off rights do not apply Cooling-off rights under section 5 of the land and business (Sale and Conveyancing) act 1994 do not apply to a sale by auction or a sale on the day of the auction to a person who has made a bid at the auction (whether in person or by proxy or representative).

18.4.6 Registration of Bidders (Residential land only)

18.4.6.1 To make a bid at an auction for a residential land (as defined in the Land and Business (Sale and Conveyancing) act 1994) a person must be registered in the bidders register.

18.4.6.2 To be entered in the bidders register, the person must satisfy the Agent as to the persons identity through providing proof of identity in the required form (through the provision of a driver's license, passport credit/debit card, utilities account or similar documentation).

18.4.6.3 Where the person intends to bid on the property as a proxy or representative of another person ("Proxy Bidder"), the person, intending to bid must produce a signed authority from the other person or entity, authorizing them to bid on their behalf.

18.4.6.4 A person making a bid must do so by displaying their unique identifier obtained through the Bidder registration process.

18.4.7 Proxies and representatives at Auction

18.4.7.1 If the proxy Bidder is the successful bidder at auction and the Purchaser is not present to sign the Contract of Cale immediately following the auction, then the Proxy Bidder will be required to sign the Contract of Sale.

18.4.7.2 Bidder offers to purchase the Property With each bid at auction, a Bidder makes an unconditional offer to purchase the Property which may be accepted by the Auctioneer

18.4.7.3 Vendor may bid at auction The Auctioneer pay make bids on behalf of the Vendor but if the auction is for residential land (as defined in the Land and Business (Sale and Conveyancing) Act 1994) the Auctioneer may not take more than 3 such bids and only for amounts below the Reserve Price. Where a Vendor bid is made by the Auctioneer, the Auctioneer will audibly announce the bid as a "Vendor's Bid".

18.4.7.4 Advancement of Bids The bidding increments during the course of the Auction will be accepted at the discretion of the Auctioneer.

18.4.7.5 Auctioneer may refuse any bid The Auctioneer may refuse a bid if of the opinion that it is not in the best interests of the Vendor and will not be obliged to give any reasons for doing so.

18.4.7.6 Bids are binding A bid accepted by the Auctioneer is a binding on the Bidder and may not be withdrawn.

18.4.7.7 Disputes concerning bids If there is a dispute concerning bids made at Auction ("Dispute") where the Dispute arises before or after the fall of the hammer or some similar indication, that the Property is sold ("Fall of Hammer") then the Auctioneer will decide the Dispute in a way that he or she deems appropriate. The decision of the Auctioneer is final and gives rise to no claim by any person against another

18.4.7.8 Selection of the Purchaser determination of the purchase price A person accepted by the Auctioneer as having made at or above the Reserve Price will be the Purchaser ("Purchaser") and that bid will be the purchase price ("Purchase Price") the Auctioneer will not accept a bid made after the fall of the Auctioneers hammer.

18.4.7.9 The Purchaser must pay the deposit and sign the Contract Subject to the determination of any Dispute, unless otherwise agreed in writing and advised before commencement of the auction, the Purchaser, upon being acknowledged by the Auctioneer as the Purchaser must:

18.4.7.9.1 immediately complete all necessary details, required by the Auctioneer to enter into a contract for the sale and purchase of the Property in the form of a contract that is displayed by the Auctioneer at the auction ("Contract") and;

18.4.7.9.2 immediately pay to the Auctioneer a deposit or a call to (ten percent) 10% of the Purchase Price; and

18.4.7.9.3 complete the purchase of the Property in accordance with the Terms and Conditions contained in the Contract for the Purchase Price.

18.4.8 Auctioneer may sign the Contract The Auctioneer will have irrevocable authority, after the fall of the Auctioneer's hammer to complete and sign the Contract on behalf of the Purchaser or the Vendor or both. Completion and signing under the Auctioneers authority will be at the Auctioneers discretion in the event of a breach by the Purchaser of any of the conditions of the auction. The party for whom the auctioneer has signed the Contract is bound by the Contract.

18.4.9 Variations of Terms and Conditions before auction Where the Vendor has agreed in writing with a Bidder to vary these Terms or other conditions, before the auction, then those variations to apply to that Bidder only.

18.4.10 Property may be re-auctioned 10.1 If the purchaser fails: (a) to pay the deposit; or (b) to execute the Contract (or both) immediately after the fall of the Auctioneers hammer, then the Purchaser is deemed by the Auctioneer to have breached his or her obligation to complete the purchase of the Property 10.2 Where clause 10.1 applies the Auctioneer/Agent is authorized by the Vendor to terminate the Contract and: (a) re-auction the Property or; (b) to sell the Property by private treaty

18.4.11 Vendor may sue Purchaser for damages Notwithstanding clause 10.2 the Vendor, may sue the Purchaser for the damages for any failure to comply with these Terms and Conditions and/or the Contract

18.4.12 Holding over the Auction The Auctioneer may hold over the Property and re-offer it for auction at another time on the same day on Terms and Conditions as the Vendor may nominate

18.4.13 Auctioning may vary these Terms and Conditions Subject to legislative requirements, the Auctioneer is entitled to vary these Terms and Conditions by announcement immediately before or during the auction including, but not limited to, advising registered Bidders that any variations sought by them have been accepted by the Vendor

18.4.14 Legal Age of Purchaser A Bidder must be at lease 18 years of age

18.4.15 Foreign Investment Review Board Approval A person who wishes to bid for or purchase the Property warrants they do not require approval from the Foreign Investment Review Board (or any similar organization) for the purchase herein A person who wishes to make a bid at the auction for the Property who requires approval from the Foreign Investment Review Board (or any similar organization) for the purchase herein must make arrangements suitable to the Auctioneer before the auction.

19. Definitions

“Auction” means the auction of Lots listed on the website.

“Auction Detail Page” is the page on the website containing specific information regarding a particular auction.

“Auctioneer” means the person nominated by Lloyds to conduct the auction.

“Bidder” means any person who registers with Lloyds and may be used interchangeably for any user, buyer, purchaser, bidder, customer or another party who interacts with any of the Auctions hosted by, or Lots listed with Lloyds on its website or in person.

“Buyer’s Premium” means the percentage of the winning Bid Amount as identified on the Lot Detail Page. The Buyer’s Premium is payable in addition to and at the same time as the Bid Amount and will form part of the total Invoice Amount to be paid. The GST component of your purchase will be clearly displayed on your invoice.

“Lot” means any assets, goods, items or services available for purchase at the Auction.

“Lot Detail Page” is the page on the website that contains all the information about a particular lot.

“MaxBid” is the maximum bid that a Bidder chooses to place in respect of an auction of a Lot.

“Privacy Statement” is the statement so named and available from the page menu at the base of the Home Page.

“Purchase Price” means the highest bid accepted by Lloyds for a Lot or the price as agreed between Lloyds (under instruction from the Vendor) and the Bidder.

“Purchaser/you” means the successful bidder for a Lot as determined by Lloyds, or purchaser by way of private agreement with Lloyds (under instruction from the Vendor).

“Sale Proceeds” means the net amount payable to the Vendor, being the Purchase Price less the Buyer’s Premium, and any other amount payable to Lloyds by the Vendor as agreed between Lloyds and the Vendor.

“Us/we/Lloyds” means Lloyds Auctions.

“User’s Agreement” means the Lloyds Auctions User’s Agreement between you and Lloyds, and includes all the Terms & Conditions and any amended terms or special conditions that Lloyds may incorporate.

“Vendor” means the owner of a Lot or the person authorising Lloyds to sell that Lot on the owner’s behalf.

“Website” means the Lloyds website found at www.lloydsauctions.com.au and www.lloydsonline.com.au

Date of last revision: 20 Dec 2023

Bid increments table 1-11-22