2017 Capital Stud Auction

CAPITAL STUD AUCTION

TERMS & CONDITIONS OF SALE

1. INTRODUCTION AND DEFINITIONS
1.1 These Conditions shall apply to all sales of Horses by Henning Pretorius by way of auction.
1.2 Henning Pretorius and the Buyer hereby agree to be bound by the terms and conditions
contained herein and signature of the sales documents, defined below of Henning Pretorius,
shall be, deemed to constitute an acceptance of these Conditions by Henning Pretorius and
the Buyer.
1.3 Any entry made in the sales documents of Henning Pretorius shall be prima facie proof of the
sale and purchase of a Horse in terms of these Conditions
1.4 DEFINITIONS
1.4.1 Henning Pretorius – vendor of horses on auction
1.4.2 Auctioneer/s- the Auctioneer/s appointed by Henning Pretorius for the conduct of the Sale
1.4.3 Buyer- the bidder to which a Horse is sold on auction;
1.4.4 Consumer Protection Act- the Consumer Protection Act No 68 of 2008
1.4.5 Horse and Lot- a Horse and Lot shall have ordinary dictionary meanings, the latter in the
context of auctions.
1.4.6 Passport – a Horse’s identity document.
1.4.7 Purchase Facility- in respect of each Buyer , the maximum amount in South African Rands
that a Buyer will be allowed to buy for at an auction
1.4.8 Purchase Price- the auction or knock down price of a Horse; any reference to “purchase
price” shall be deemed, unless the context requires otherwise to exclude VAT;
1.4.9 Sale Documents – includes any of the following documents completed and/or signed by or
on behalf of
1.4.9.1 The Buyer:-
Buyer’s Contract which incorporates these Conditions
The auction slip
Any Advisors agreement
Henning Pretorius’ sales invoice
1.4.10 Sale – the sale of a Horse by Henning Pretorius by way of auction
1.4.11 VAT- Value Added Tax as defined in the Value Added Tax Act No 89 of 1991
1.4.12 For the avoidance of doubt a sale by auction is complete when the Auctioneer announces its
completion by the fall of the hammer or in any other customary manner.
1.4.13 Any reference to Henning Pretorius, a Buyer or the Auctioneer shall be deemed, unless the
context requires otherwise, to include a reference to the respective agents, representatives
and employees of Henning Pretorius, a Buyer or Auctioneer.
1.4.14 Any reference to any one gender shall include the others.
2. NO WARRANTIES OR REPRESENTATIONS INDEMNITIES
2.1 Unless otherwise provided for in these Conditions, all Horses shall be sold on an “as is” basis,
with any faults and patent and latent defects.
2.2 Neither Henning Pretorius nor the Auctioneer makes or gives any representation, warranty or
guarantee, express or implied, whatsoever:
2.2.1 in respect of the correctness of any statement or information whatsoever pertaining to a Horse
including any statement or information contained in any pre-purchase report, radiographs , sale
documents or advertising/sale catalogues, and neither Henning Pretorius nor the Auctioneer shall
be liable for any error in any such statement or information;
2.2.2 as to the merchantability, fitness for any particular purpose, soundness, condition or quality of
any Horse offered for Sale.
2.3 Neither Henning Pretorius nor the Auctioneer accepts any responsibility for any defects or errors
in relation to the pedigree, height, description, condition or other particulars relating to a Horse,
including, without limitation, the performance of a Horse.
2.4 It is the sole responsibility of an intending Buyer to check the inoculation and/or the vaccination
status of any Horse which he may be interested in buying in advance and to satisfy himself that they
meet all the legal and his own requirements.
2.5 The Buyer acknowledges that he will make or has made the purchase in reliance on his
own enquiries and inspection, that he has not relied on any information, statement or
representation made by or on behalf of Henning Pretorius or the Auctioneer and that no liability
shall attach to Henning Pretorius, or the Auctioneer for any faults, imperfections, behavioural
abnormalities, conditions or other defects in the Horse, save and except where Henning Pretorius
and/or the Auctioneer may be held liable in terms of the Consumer Protection Act.
2.6 Prior to auction, a thorough pre purchase examination is performed on all Horses. The results of
these examinations are recorded in a pre-purchase report available to the Buyer, subject to 2.2.
2.7 Radiographs if any, are at the disposal of the Buyer, his representatives, agents, advisors and
veterinarians. They may acknowledge, analyse and check the information on their own risk prior to
the auction, and on the auction day, by consulting with the official veterinarian on site.
2.8 Terms & Conditions for Repository for Digital Radiograph Images (DRIs):
2.8.1 The repository exists for the purpose of facilitating inspection by Buyers of Horses for sale
which they may be interested in buying. The repository and its operation shall not change any of
these Conditions, which shall continue to be binding on all parties and does not create any additional
express or implied warranties or assurances.
2.8.2 Henning Pretorius warrants that lodged material in the Repository relating to a Lot is in all
respects valid, complete, accurate, and authentic as at the date it is lodged.
2.8.3 Buyers and/or their authorised representatives or advisors who fail to inspect, for any reason,
material lodged in the Repository in respect of any Lot, do so at their own risk.
2.8.4 All items and information placed by Henning Pretorius in the Repository are the sole property
of Henning Pretorius.
2.8.5 Immediately upon fall of hammer, access to DRIs of that Lot sold within the Repository will be
restricted to Henning Pretorius.
2.8.6 The use of the Repository is voluntary but is also recommended for use by veterinarians
familiar with interpretation of equine DRIs. It is designed to assist Buyers via their registered
veterinarians in assessing Lots of interest to them. Henning Pretorius has determined that access to
DRIs will be restricted to veterinarians registered with the S.A Veterinary Council. The Buyer
undertakes that any registered veterinarian representing a Buyer will retain as confidential for the
Buyer the information obtained from inspection of the DRIs with respect to each Lot.
2.9 The results of the veterinary examinations, their statements and evaluations are independent
services of veterinarians. No contractual promise by Henning Pretorius is made, since these
veterinarians are independently working experts.
2.10 Terms such as “in foal”, “certified in foal” and “pregnancy certificate” shall not constitute a
warranty by Henning Pretorius that any particular mare entered for sale, is in fact in foal at the time
of the Sale. The Buyer, if he so wishes, shall be entitled to verify the claim of pregnancy.
2.11 The Buyer indemnifies and holds Henning Pretorius and the Auctioneer harmless against any
claims arising from any cause whatsoever relating to the sale of any Horse, and the manner in
which the Auctioneer conducts the auction, save and except where Henning Pretorius and/or the
Auctioneer may be held liable in terms of the Consumer Protection Act.
2.12 Under no circumstances whatsoever shall Henning Pretorius or t h e Auctioneer be liable for
any d i rect or consequential losses of the Buyer relating to the sale and purchase of any
Horse at a Sale save and except where Henning Pretorius and/or the Auctioneer may be held
liable in terms of the Consumer Protection Act.
3. BUYER’S RIGHT TO CANCEL A SALE.
3.1 The Buyer of a Horse may, after the Sale but before the Horse leaves Henning Pretorius’
sales premises and at his own cost, request that the Horse:
be examined for the presence of any drug, chemical, compound, stimulant or substance, including
the presence of any banned and/or prohibited substances as listed and published by the F E I ,
which may have influenced the performance of the Horse at the Sale
3.1.1 The examination must be carried out on Henning Pretorius’ sales premises by a veterinary
surgeon appointed by the Buyer and must be concluded within 18 hours from the end of the
Sale. The Buyer and Henning Pretorius, or their authorised representatives shall be entitled to be
present during the examination.
3.1.2 The Buyer shall be entitled to cancel the sale of a Horse, if the presence of any drug,
chemical, compound, stimulant or substance, including the presence of a n y banned and/or
prohibited substances as listed and published by the FEI, which may have influenced the
performance of the Horse at the Sale, is found in the Horse before it leaves Henning Pretorius’
sales premises. The Buyer shall be obliged, at his own expense, to return the Horse to Henning
Pretorius. The Buyer shall be entitled to recover, directly from Henning Pretorius, the expense he
incurred in returning the Horse.
3.2 No Horse shall be returned to Henning Pretorius or his sales premises or stables without his
prior written consent.
4. BIDDING
4.1 The Parties acknowledge that announcements are made from the Auctioneer’s rostrum before
the commencement of a Sale and from time to time during and after a Sale. Henning Pretorius
disclaims all responsibility for any claims or damages suffered by any person on account of not
having heard such announcements.
4.2 The highest bidder, whose bid is accepted by the Auctioneer, shall be the Buyer of the
Horse; provided that, if a dispute arises between two or more bidders in respect of the sale of a
Horse, the Auctioneer may, prior to the conclusion of the sale, and in his sole and absolute
discretion:
- re-auction the Horse in question; or
- declare who the Buyer of the Horse is.
4.3 The decision of the Auctioneer shall, in the circumstances specified in 4.2 above, be absolute,
final and binding on all parties.
4.4 The Auctioneer shall determine and regulate the advance of the bidding and shall be entitled, in
his sole discretion, to ignore or reject any bid, without giving any reasons for such action. The
amount of the bid shall not include any VAT, or insurance.
4.5 Telephone bidding will be permitted if prior arrangements have been made in writing with
Henning Pretorius and if the caller communicates with the appointed telephone bidder during the
auction.
4.6 The Auctioneer or Henning Pretorius may withdraw any Horse from the Sale without giving
reasons for doing so.
4.7 When the Horse is sold the Buyer shall immediately sign the Auction Slip forthwith as
acknowledgement of purchase.
5. DOMICILIUM
Buyers must provide current contact details, including current telephone and cellphone numbers
and a current physical, email and postal address. The physical address provided on Henning
Pretorius’ and the Buyer’s Contracts shall be deemed, for the purposes of these Conditions,
to be the chosen address (domicilium citandi et executandi) for all purposes under these
Conditions, whether for serving any court process or documents, giving any notice, or
making any other communications of whatsoever nature and for whatsoever purpose under
these Conditions.
6. RISK, OWNERSHIP, POSSESSION, INSURANCE & MAINTENANCE COSTS
6.1 Henning Pretorius will have an u p - t o -date pas s p o r t f o r ea c h L o t p r i o r t o the
auc t ion
6.2 All risk in respect of a Horse sold at the sale shall pass to the Buyer “on the fall of the hammer”,
at which time the Buyer shall forthwith be responsible for the care, keep, custody, control,
insurance and security for the Horse and for all expenses relating thereto and bear the risk of injury
to, sickness or death of the Horse. The Buyer agrees to indemnify and hold Henning Pretorius, his
officers, employees, agents and representatives and the owners or operators of facilities in use by
Henning Pretorius, harmless from all losses, damages, liabilities, expenses, claims, causes of action or
legal fees arising out of or related to the possession, care, keep, custody, control or maintenance of
any Horse on which he is the successful bidder, including any claims arising out of injuries, sickness,
death or damage caused by the Horse after the fall of the hammer.
6.3 The Buyer shall not allow or cause any Horse bought in terms of these Conditions to
become subject to any lien, hypothec or other form of security until such time as the Purchase
Price has been settled in full. In the event of such lien, hypothec or other form of security
arising, Henning Pretorius shall be entitled to act in accordance with 8.4.
6.4 The Buyer shall insure at a premium of 0.5% of the knockdown price plus VAT the respective
interests of Henning Pretorius and himself in all Horses bought, for a period of 7 days from the
date of the Sale, before leaving the sales premises. Henning Pretorius may insure the Horse and
any premiums paid in this regard shall be for the account of the Buyer. The Buyer shall also
ensure that Henning Pretorius’ interest is endorsed on the policy provided that :
6.4.1 if the Purchase Price of any Horse remains unpaid after a period of 7 days, for any reason
whatsoever, Henning Pretorius shall be entitled, at the cost of the Buyer, to extend such period
of insurance until such time as the Purchase Price is paid in full by the Buyer.
6.5 Save as provided in these Conditions or unless other prior arrangements in writing have
been made with Henning Pretorius, the Buyer shall remove the Horse purchased promptly from
the sales premises after the Sale. Should the Buyer fail to remove the Horse promptly,
Henning Pretorius may remove the Horse from the sales premises at the Buyer’s risk and
expense or, alternatively, charge the Buyer for stable space and keep, and any other charges
incurred by Henning Pretorius in this regard, which charges the Buyer agrees to pay to Henning
Pretorius on demand. Notwithstanding the foregoing Henning Pretorius shall be entitled to
retain possession of any Horse at the Buyer’s cost and risk if any monies are outstanding.
6.6 Ownership in a Horse shall only pass to the Buyer upon payment of the Purchase Price
notwithstanding that the Buyer may have taken possession of the Horse. Until the Purchase Price
has been paid in full, the Buyer shall not be entitled to have the Horse registered in his name or that
of his nominee, nor shall any passports, registration certificates or any other documentation be
handed over to him.
6.7 If for any reason, possession is given to the Buyer before payment of the Purchase Price, the
Buyer shall, until such time as the Purchase Price has been paid in full, keep Henning Pretorius
advised of the physical address at which the Horse purchased is being kept and Henning Pretorius
shall have the right to inspect the Horse at any stage prior to payment of the Purchase Price.
7. PARTICIPATING REQUIREMENTS AND PAYMENT OF PURCHASE PRICE
7.1 No prospective Buyer shall be authorised to bid at a sale unless and until he is in possession of a
valid and current Buyer’s card issued by Henning Pretorius in respect of the sale in question.
7.2 Buyer’s cards are obtainable on the day of the test riding & sale, where a copy of the Buyer’s ID /
valid passport is required as well as signature of a Buyer’s Contract.
7.3 Only the person to whom the Buyer’s card is issued and whose signature appears on the card,
shall be allowed to sign for the purchase on the Auction Slip. Where the signature on the Auction Slip
is that of another person, Henning Pretorius shall be entitled to regard the sale as null and void in
which event the Horse shall be re-entered into the sales ring for re-auction.
7.4 Henning Pretorius shall only issue a prospective Buyer with a Buyer’s card on the following
conditions:
7.4.1. Henning Pretorius shall in his sole and unfettered direction be entitled:
7.4.1.1 to run a credit check on prospective buyers personal solvency;
7.4.1.2. to waive, in writing, compliance with some or all of the provisions of 7.4 on such terms
and conditions and for such period as Henning Pretorius may determine.
7.5 Where a deposit is lodged with Henning Pretorius, he shall deal with the deposit in the following
manner:
7.5.1. should the prospective Buyer not have purchased any Horse the deposit shall be refunded to
the prospective Buyer as soon as possible after he has surrendered and handed back his Buyer’s
card, but not later than 14 days after the date of the sale;
7.5.2. should the Purchase Price/s in respect of the Buyers total accepted bids be less than the
amount of the deposit, the amount owing in respect of the purchases will immediately be
deducted from the deposit and the balance refunded to the Buyer as soon as possible but not later
than 14 days after the date of the Sale;
7.5.3. should the Purchase Price/s in respect of the Buyer’s total accepted bids exceed the amount
of the deposit, then the deposit will be offset pro rata against the Purchase Price/s of the Horse/s
bought.
7.6 The Purchase Price must be paid for in full by the Buyer to Henning Pretorius prior to obtaining
the required release voucher. The Purchase Price shall be paid by electronic transfer, bank
guaranteed cheque or by irrevocable commercial letter of credit.( In his sole discretion, Henning
Pretorius may accept a non-guaranteed cheque but acceptance thereof shall not constitute
payment until honoured by the bank on which the cheque is drawn.)
Payment may be made by telegraphic transfer (foreign) or direct bank deposit (local) or electronic
transfer or:
Name of Account Capital Stud
Bank Name ABSA
Account number 4062824422
Branch Name & Code 508146 ( Brits )
7.7 Henning Pretorius reserves the right not to release a Horse to a Buyer, and to keep it stabled at
his premises at the risk and cost of the Buyer, until any payment by cheque from the Buyer has
been honoured and cleared by the bank.
7.8 Where a Horse is purchased by any person who is not a South African citizen or permanently
resident in South Africa, the Purchase Price shall be secured by an irrevocable commercial letter of
credit in a form acceptable to Henning Pretorius.
7.9 No Horse may be removed from the sales premises before a release voucher in respect of that
Horse has been issued by Henning Pretorius. Subject to 6.4 Henning Pretorius will only issue the
release voucher if the Purchase Price is paid in full.
7.10 Any amounts due to Henning Pretorius and not paid in full at the time of Sale attract interest
at 2% per month, from the date of Sale to date of actual payment. If the Purchase Price is not
paid in full within the agreed terms, Henning Pretorius shall be entitled to take action in terms
of clause 8 below.
7.11 The Buyer of a Horse shall be obliged to pay any VAT payable in respect of such Horse together
with the Purchase Price.
7 . 12 Not withstanding 7.1, a person in possession of a valid and current Buyer’s board , issued by Henning Pretorius in respect of the Sale in question , shall be entitled to bid, provided that for a sale to be valid , he must immediately subsequent to the sale,
comply with 7.2 and obtain a Buyer’s card .
8. LEGAL REMEDIES FOR BREACH BY BUYER, REPOSSESSION AND COSTS
8.1 The Buyer agrees and acknowledges that in the event of:
8.1.1 the Buyer materially breaching any condition contained in these Conditions;
8.1.2 the Buyer dying
8.1.3. the Buyer’s estate being placed under any order of provisional or final sequestration,
provisional or final winding-up or provisional or final judicial management or business rescue, as the
case may be; then and in that event Henning Pretorius shall, without notice and without detracting
from any other remedies which may be available to it,
• be entitled to summarily cancel the sale of any Horse to the Buyer (in respect of
which monies are owing by the Buyer) and to repossess such Horse from anyone in
possession of it (“the repossessed Horse”);
or
• to claim specific performance of all the Buyer’s obligations whether or not such
obligations would otherwise then have fallen due for performance; in either event
without prejudice to Henning Pretorius’ right to claim and recover damages for
breach of contract.
8.2 In the event of repossession, Henning Pretorius may take all necessary steps, either by
himself or through servants or agents and enter upon any land or premises, to recover possession
of the Horse. The Buyer agrees to voluntarily hand over the Horse to Henning Pretorius or his
agents or to instruct his employees, servants, trainer(s) or whoever is in possession of the Horse
to do so. All costs and expenses occasioned by such repossession shall be recoverable by Henning
Pretorius from the Buyer.
8.3 The Buyer acknowledges and agrees that if for whatever reason he refuses to voluntarily hand
over the Horse, Henning Pretorius shall be entitled to immediately apply for and obtain a
repossession order from a court of competent jurisdiction and that opposition to such application
shall not be justified and shall attract an adverse costs order.
8.4. Where any person claims to have a lien over any Horse in respect of which the Purchase Price
has not been paid, Henning Pretorius has the right to settle such lien as he deems fit to recover
possession of the Horse. Any monies paid in discharge of any lien shall form part of the debt which
Henning Pretorius shall be entitled to recover from the Buyer in addition to any other amounts
which may be payable.
8.6 Notwithstanding the cancellation of the Sale by Henning Pretorius, he shall be entitled to retain:
8.6.1 Any sums paid by the Buyer; and/or
8.6.2 the Deposit or any portion thereof which was offset against the Purchase Price; in
reduction of damages, if any which may be suffered by Henning Pretorius by reason of the breach
by the Buyer and the resultant cancellation of the Sale.
8.7 Should Henning Pretorius elect to cancel the Sale and repossess the Horse sold, Henning
Pretorius shall be entitled, but not obliged, to attempt to re-sell the repossessed Horse at any
future Sale. If the Repossessed Horse is sold, then the Purchase Price, if and when paid in
full, shall be used in reduction of the shortfall, if any, which may have resulted by reason of
the breach by the Buyer and the resultant cancellation of the agreement of Sale. Henning
Pretorius shall also be entitled to resell any Horse in respect of which the Buyer cannot be found
or traced.
8.8 If the Sale is cancelled, whether the Horse is resold or not, the defaulting Buyer agrees
to pay all costs which arise from the cancellation, which include but are not limited to
transport and keep costs, veterinary fees, insurance, legal costs on the attorney and own
client scale, loss of interest and loss of income (e.g. sales fees), on the Purchase Price in
respect of such Horse.
8.9 Any shortfall remaining after the resale shall be made good by the defaulting Buyer on
demand from Henning Pretorius.
8.10 Neither Henning Pretorius, nor the Auctioneer, shall have any vicarious liability to the
Buyer in consequence of any breach or default on the part of either or both of them.
8.11 Forty-five days after the Sale any outstanding part of the Purchase Price, which includes
interest, insurance costs and any other amount which may be due and payable to Henning
Pretorius, will be handed over to attorneys for collection on behalf of Henning Pretorius. In the
event of Henning Pretorius instructing attorneys, for whatever reason, to (including but not
limited to): collect any amount owing to Henning Pretorius, obtain a repossession order, and/or
to draft any agreement to secure Henning Pretorius’ rights, the Buyer agrees to pay all the costs
of Henning Pretorius on the scale as between attorney and own client, whether or not summons
is actually issued
8.12 The Parties consent to the jurisdiction of the Magistrate’s Court in terms of section 45
of the Magistrate’s Court Act No. 32 of 1944 (as amended) having jurisdiction under section 28
of the said Act, notwithstanding that the claim by Henning Pretorius exceeds the normal
jurisdiction of the Magistrate’s Court as to amount. Henning Pretorius shall, in its discretion, be
entitled to proceed against the Buyer in any other court of competent jurisdiction
notwithstanding the aforegoing.
8.13 No Buyer who has materially breached any condition contained in these Conditions shall
be entitled to a Buyer’s Card at future sales of Henning Pretorius.
8.14 A certificate under the hand of Henning Pretorius or a manager of Henning Pretorius (whose
appointment need not be proved) as to any amounts due and owing by the Buyer in terms of
these Conditions shall constitute prima facie proof of the matters therein states for all purposes
including, without limitation, summary judgement and provisional sentence proceedings.
9. REPRESENTATIVES
9.1 Any person acting as a representative of a principal Buyer:
9.1.1 Shall, if he is buying as an authorised representative on behalf of a principal, ensure
that his principal has completed and signed an Authorisation of Representative form and
that this form has been submitted to Henning Pretorius prior to the Sale;
9.1.2 Shall ensure that a Buyer’s contract has been completed and signed by the principal and
submitted to Henning Pretorius prior to the Sale;
9.1.3 may be required, prior to his participation in the Sale, to establish to the satisfaction of
Henning Pretorius, his authority to so act and to furnish Henning Pretorius with the necessary
documentation in substantiation thereof;
9.1.4 shall, if he is the Buyer, disclose the name and address of his principal if so requested by
Henning Pretorius;
9.1.5 shall be jointly and severally liable to Henning Pretorius for the timeous fulfilment of all the
obligations of his principal in terms of these Conditions, renouncing the benefits of division and
excussion. A Representative shall be so liable even if he fails to disclose the information as
required by clauses 9.1.1 to clause 9.1.4 above inclusive. For the sake of clarity by renouncing
the benefits of division, the representative renounces the defence that liability must be divided
among the sureties and that each one can only be sued for his pro rata share. By renouncing
the benefits of excussion, the representative renounces the defence that may be taken by a
surety in order to oblige Henning Pretorius first to proceed and levy execution against the
principal before any action may proceed against the surety.
9.2 No person acting as a representative and buying in his own name on behalf of a principal
will be released from his responsibility to pay the Purchase Price owing to Henning
Pretorius on account of his inability to secure payment from his principal or his principal
defaulting in making payment.
9.3 When a representative discloses his principal after purchasing a Horse, there shall be no obligation
whatsoever on Henning Pretorius to invoice his principal and collect the Purchase Price from such
principal. If the invoice is sent to the principal, who defaults in paying the Purchase Price, the
responsibility for payment remains with the representative who has purchased the Horse, whose
Buyer’s card was used and who signed for the purchase on the Auction Slip.
9.4 No person, with a valid Buyer’s card, who allows another person without a Buyer’s card, to use
his card to purchase Horses and sign for the Horses, will be released from his responsibility to pay the
Purchase Price owing to Henning Pretorius on account of his inability to secure payment from such
Buyer.
9.5 Notwithstanding anything to the contrary contained in the Conditions, any person purporting
to act on behalf of another, shall be deemed to have full legal capacity to do so and shall
demonstrate this by handing Henning Pretorius a suitable power of Attorney.
10. REGISTERED ADVISORS
10.1 Registered Advisors can make claim to an Advisor’s commission, payable by Henning Pretorius.
10.2 Any person acting as an Advisor to a Buyer, and wishing to make claim to an Advisor’s
commission:
10.2.1. must be approved by Henning Pretorius, and
10.2.2. shall have made a written application to Henning Pretorius before commencement of the
auction, stating that they will represent one or more Buyers, together with the full names and
signatures of such Buyer(s), and relevant lot numbers
10.2.3. must get written approval from Henning Pretorius that such a person has been noted as a
“Registered Advisor”.
10.3 Commission paid to the registered Advisor by Henning Pretorius will be 6% of the knock down price
excluding VAT.
10.4 Payment of Registered Advisor’s Commission will take place only once the Buyer has fully
completed the payment obligations stipulated in the Conditions, and no later than 14 days after
such completion.
11. AUCTION FEES
11.1 The minimum Purchase Price that will be accepted for any Horse at the Sale shall be R10
000 (excluding fees).
12. HENNING PRETORIUS NOT LIABLE FOR ANY LOSS OR DAMAGE
12.1 Save and except where H e n n i n g P r e t o r i u s and/or the Auctioneer may be held
liable in terms of the Consumer Protection Act:
12.1.1 no person who attends a sale or who is present on any property under the control
of Henning Pretorius, shall have any claim of any nature whatsoever and however arising,
now or in the future, (including, but not limited to any claims for damage to or loss or
destruction of any Horse or other property or death or injury to such person) against
Henning Pretorius or the Auctioneer arising out of any cause whatsoever;
12.1.2 neither Henning Pretorius nor the Auctioneer shall be responsible for any damage, loss
or injury caused by or to any Horse entered for the Sale, while such Horse is under the control
or supervision of Henning Pretorius.
13. RIGHT OF ADMISSION
13.1 Henning Pretorius reserves the right of admission and shall be entitled at any stage to
require any person and/or vehicle to vacate with immediate effect any premises under his
control.
14. COPYRIGHT AND INFORMATION
14.1 The copyright to these Conditions, and to the information contained in the sales
catalogue, including information pertaining to pedigrees and performance of Horses, rests
solely in Henning Pretorius. No part of the work covered by this copyright may be reproduced
in any form or by any means whatsoever without the written permission of Henning Pretorius.
15. GENERAL
No amendment to these Conditions and Buyer’s Contracts shall be of any force and effect
unless reduced to writing and signed by the parties thereto.