Terms & Conditions (Terms of Auction)

TEAM AUCTIONS
(Sekura Auctions Ltd.)
and/or Herein called the auctioneer
TERMS OF AUCTION

1. To be approved to bid online you must:
   1. Register to bid and complete the information requested.
   2. You must supply Sekura Auctions Ltd.: A valid credit card number, Expiry date, Bank and Branch Location.
   3. Your bidding limit is set by either a credit card pre-authorization or a letter from your financial institution. A ($1.00 USD) refundable charge on your credit card will be applied for each Auction you register for.
2. Online Fees:
   Fees applying to online auctions are:
   1. Timed Real Estate: 10% up to a max of $5,000 per item
   2. Timed Miscellaneous Auctions: 15% to a max of $1,500 per item
   3. Timed Consignment/Equipment Auctions: 15% to a max of $1,500.00 per item
   4. Other sales as posted online
   This is in addition to full terms and conditions below

1. Agent of Seller:
   TEAM Auctions/Sekura Auction Ltd. (the “auctioneer”) acts as agent of seller only and not as owner. The actual contract of sale is directly between the sellers and buyers.
2. Payment:
   All item(s) and or livestock purchased are to be paid for in full within 2 (two) business days of close of auction by cash, Certified cheque, electronic transfer, bank draft, direct deposit, debit, visa or master card or other approved payment (restrictions apply) to TEAM Auctions/Sekura Auction Ltd.. GST and/or any other applicable taxes and/or fees will be added to bid price where applicable. The auctioneer, at any time, can charge the buyers registration card for full or partial payment of the items and/or Real Estate purchased at the close of this auction. All Items and/or livestock must be paid for in full and funds transferred to, and verified, in TEAM Auctions/Sekura Auction Ltd. account before ownership will be transferred to the buyer and Item(s) and/or livestock and/or Real Estate items can be removed.
   Your bid as a buyer will be recorded and will remain binding and in affect 2 (two) business days after such time the auction is closed.
   You the buyer acknowledges and agree that bidding at this auction is the legal equivalent of a firm commitment and irrevocable offer to purchase, unless otherwise prohibited by law or otherwise noted in these buyer terms. Once you have placed a bid and the bid is accepted by the auctioneer you are obligated to complete the transaction.
3. “AS IS WHERE IS”:
   All item(s) and/or livestock and/or Real Estate are sold on an “AS IS WHERE IS” basis without warranty and are at the buyer's risk as soon as they are sold. Any warranty offered by a seller shall be a matter between the seller and the buyer and shall not involve TEAM Auctions/Sekura Auction Ltd. including, but not limited to, any of its representatives or Real Estate Brokerages. Any information provided by the auctioneer is meant as a guide only. All buyers shall inspect each item(s) and/or livestock and/or Real Estate and satisfy themselves as to the condition, fitness, soundness, location, and/or to the measurements of the item(s) and/or livestock and/or Real Estate before bidding. The inability or failure to do so will in no way relinquish the buyer from being bound by any of the terms of this auction. Any descriptions or information in any form whatsoever, whether oral, written or otherwise howsoever, shall not be construed as a representation or a warranty, express or implied by TEAM Auctions/Sekura Auction Ltd. its representatives or brokerages. The buyer acknowledges that any purchase made is based solely on the buyer's inspection of the goods as to their nature, quality, condition, quantity, size and fitness for the purchase that the buyer intends to use the purchased item(s) and/or livestock and/or Real Estate. TEAM Auctions/Sekura Auction Ltd., its employees including, but not limited to, any of its representatives or Real Estate Brokerages and the seller accept no responsibility for errors in advertising or description. Once the buyer has bought items and/or livestock and/or Real Estate, all risk passes to the buyer and the items and/or livestock and/or Real Estate becomes the buyers responsibility. TEAM Auctions/Sekura Auction Ltd. will not be liable for any damages, theft, or insurance on purchased item(s) and/or Real Estate and/or livestock. All warranties, representations and conditions whether expressed or implied, whether by statute or otherwise, are hereby waived by the buyer.
4. Clear Title:
   The Auctioneer will arrange the release of any liens and encumbrances found to be registered against any items and/or livestock and/or Real Estate listed for auction (except, in the case of Real Estate, those are which to remain on the property) in order to clear title. If for any reason clear title (except, in the case of Real Estate, those are which to remain on the property) cannot be cleared. The liability, if any, of the auctioneer and or the seller shall not exceed "refund of the price paid at this auction" in exchange for return of those items and/or livestock and/or Real Estate in equal to or better condition when sold on auction day.
5. Unreserved and Reserved:
   Some item(s) and/or livestock and/or Real Estate may have reserved minimum bids. The Auctioneer, at its sole discretion has the right to or/not to advertise and/or notify the buyer as to whether the goods/and or Real Estate being offered in this auction are:
   1. Unreserved: Meaning the seller has agreed to accept the highest bid regardless of price. In this case any items and/or livestock and/or Real Estate offered will sell to the highest bidder regardless of price.
   2. Reserved: Meaning the seller has set a minimum price that must be met in order for the items and/or livestock and/or Real Estate to be deemed "sold" to the buyer. This minimum "Reserved" price may be indicated to the buyer as a "Reserve Price" or as "Subject to Owners Approval" or “not indicated or advertised in any way”.
      The seller and/or the auctioneer acting as the sellers agent may at any time:
      - remove the "Reserve bid" or “minimum bid” at any time and deem this auction " Unreserved"
      - accept any bid, within 2 business days of the auction closing, that is lower than the "Reserve Bid"
      - counter offer; any buyer within 2 (two) business days of the closing of the auction.
      Your bid as a buyer will be recorded and will remain binding and in affect 2 (two) business days after such time the auction is closed.
      You the buyer acknowledges and agree that bidding at this auction is the legal equivalent of a firm commitment and irrevocable offer to purchase, unless otherwise prohibited by law or otherwise noted in these buyer terms. Once you have placed a bid and the bid is accepted by the auctioneer you are obligated to complete the transaction.
6. Bidding and Winning:
   The bidder username given to you at the outset of the Auction upon qualifying as a Bidder shall be used by you during the Auction to bid on Property(s)/Item(s)/livestock. To purchase a particular Property(s)/Item(s)/livestock at the Auction, one must be acknowledged by the Auctioneer as the Winning Bidder (the bidder to whom the Auctioneer acknowledges the Property as being "SOLD" to) Online Bidders will be notified immediately if they are the high bidder and shall be instructed to expect the purchase and sales agreement by Facsimile or by email, and tender their payment within 2 (two) business days following the close of auction sale. Each Sale is final, and there are no contingencies.
   Your bid as a buyer will be recorded and will remain binding and in affect 2 (two) business days after such time the auction is closed.
   You the buyer acknowledges and agree that bidding at this auction is the legal equivalent of a firm commitment and irrevocable offer to purchase, unless otherwise prohibited by law or otherwise noted in these buyer terms. Once you have placed a bid and the bid is accepted by the auctioneer you are obligated to complete the transaction.
7. Auctioneers Final Say:
   The auctioneer reserves the right to accept or void any bid, whether winning or not, and in cases of dispute the auctioneer’s decision shall be final. All buyers agree to be bound by the terms of this agreement as well as any other conditions announced or advertised by the auctioneer. In registering for this auction each buyer agrees to be responsible for all charges to them and that if any form of expected payment is accepted by TEAM Auctions/Sekura Auction Ltd. or the Real Estate Brokerage that it will be honoured when presented for payment at the bank or institution or means on which the payment is drawn. If the aforesaid payment is dishonoured then to secure payment of the same, the buyer hereby: (a) grants to Sekura Auctions Ltd. a security interest in all present and after acquired property of the buyer and the buyer hereby authorizes Sekura Auctions Ltd. by its duly appointed employee to act as that buyer's agent in executing a general security agreement in favour of Sekura Auctions Ltd. in the then current form of general security agreement used by Sekura Auctions Ltd. The buyer consents to Sekura Auctions Ltd. filing a financing statement at Personal Property Registry in relation to the aforesaid general security agreement and the buyer waives any right to obtain a copy of the said general security agreement; and (b) charges any real estate which the buyer now or hereafter owns and consents to Sekura Auctions Ltd. filing a caveat against title to such lands. The buyer further agrees that such charge shall be deemed to be a mortgage and enforceable by Sekura Auctions Ltd. as such. All legal fees incurred by Sekura Auctions Ltd. in recovering all amounts due to them from the buyer shall be paid by the buyer on the scale as between solicitor and his own client on a full indemnity basis.
   Late payments shall bear interest at the rate of 15% per annum.
8. Removal:
   The buyer agrees that all items will be removed no later than 5 days for miscellaneous and 8 days for equipment auctions, after the date of the auction. Farm sale details will be provided. Failure to do so may result in a storage fees, and/or relocation of the items at the buyers expense. Failure to remove the equipment within 10 (ten) days of the auction item will be deemed “Abandoned” and disposed of by the auctioneer at its sole discretion with no compensation for the buyer whatsoever.
9. Fees and Taxes:
   The bid price does not include any applicable taxes or auction fees including, but not limited to G.S.T other taxes and auction fees.
10. Real Estate Additional Terms:
    1. UNRESERVED: The seller has agreed to accept the highest bid regardless of price. Property will sell to the highest bidder without minimum or reserve.
    2. AGENT OF THE SELLER: Real Estate Brokerage acts only as agent of the seller and not as agent of the Buyer. They will provide prospective buyers with all facts known to the agent that will or may affect the marketability or value of the property.
    3. NO WARRANTY: The Buyer shall accept the Property as-is where-is and specifically agrees that neither the Seller, Auctioneer or Realtor makes any representations or warranties of any kind as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon.
    4. It is the RESPONSIBILITY OF ALL BIDDERS to review all information provided, including "Property Information Package" from the Real Estate Brokerage and the terms of this auction. All information provided is meant as a guide only. Bidders shall have satisfied themselves as to the descriptions, location and condition of the property prior to bidding. If clarification is required, it is the bidder’s responsibility to obtain clarification from Real Estate Brokerage prior to bidding.
    5. GST: Bid price does not include any applicable GST unless announced otherwise by auctioneer.
    6. DEPOSIT: Immediately at the close of bidding the successful bidder will make a NON REFUNDABLE deposit payable to the real estate brokerage (as listed in the Property Information Package) in the form of a bank draft or other approved payment. Amount is listed in Property Info Package/or as announced by auctioneer.
    7. PURCHASE CONTRACT: The Real Estate Purchase Contract that applies to each property will be available for inspection prior to the auction. Title(s) will be clear of encumbrances except those which are to remain on the title. All bidders agree that, should their bid be accepted, they will complete and be bound by the terms of the purchase contract. Buyer will pay the balance of the purchase price to their lawyer on or before Completion Day. Possession will be in accordance with the terms of the Purchase Contracts. Note: These contracts will not be subject to any buyer’s conditions.
11. The auctioneer has the right to remove any items and/or Real Estate and/or Livestock for any reason at any time from this auction.
12. Technologies:
    The buyer acknowledges that the auctioneer cannot guarantee the continuous or secure operation or access to any “online” technologies. All technologies are subject to, but not limited to, failures, outages, and or delays. The auctioneer will not be held liable for any claims or alleged losses related to the use any technologies or processes used in the auction
13. Proprietary Information:
    You the buyer agree that any information posted and/or supplied by, including but not limited to, images, results, customer information by the auctioneer, is for the sole purpose of the buyer participating in this auction. This information is the sole intellectual property of the auctioneer and may not, without the written permission of the auctioneer, directly or indirectly, through any means whatsoever be used or shared for any other reason.
14. Freight & Transportation: Any items that are consigned but not sold will be automatically forfeited to Team Auctions.
15. Unsold Items: Any items that are consigned but not sold will be automatically forfeited to Team Auctions.
16. Disclaimer:
    The buyer will indemnify and save harmless the Auctioneer and the seller of the items, and/or Real Estate and/or Livestock against all claims, demands, suits, actions, causes of actions, damages, costs including lawyer’s fees, or charges including, but not limited to, any encumbrances, environmental claims, deficient taxes, infringement on patents, copyrights or trademarks.
    The buyer acknowledges that an auction site is a potentially dangerous place that, flammable, noxious, corrosive and pressurized substances are present, heavy equipment is being operated and electric circuits may be live. Every person at the auction site at any time, shall be there at his own risk with notice of the condition of the premises and the activities thereon and buyer shall so advise his agents and employees. No person shall have any claim against TEAM Auctions/Sekura Auction Ltd., the Auctioneers, their agents, employees, Real Estate Brokerages or principals for any injuries sustained, nor for damages to or loss of property which may occur from any cause whatsoever.
17. Your Information:
    hereby give TEAM Auctions/Sekura Auction Ltd., its assigns, licensees and legal representatives the irrevocable right to use my name/photograph/image/audio recording/video recording/ and likeness (“My Image”) in all forms and manner including but not limited to publication on Internet Web Sites, broadcasts and any other publications as released to or by TEAM Auctions/Sekura Auction Ltd. TEAM Auctions/Sekura Auction Ltd. reserves the right to use information collected upon receiving a bid card for commercial electronic messages by mean of telecommunications (texting, emailing, social media).
18. This Agreement shall be interpreted in accordance with the laws in force in the Province of Alberta.
19. The failure of TEAM Auctions/Sekura Auction Ltd. to enforce any terms of this agreement in whole or in part or to respond to a breach by the buyer shall not in any way constitute a waiver of TEAM Auctions/Sekura Auction Ltd.'s rights to enforce subsequently any term or condition of this agreement or to act with respect to similar breaches.
20. If any part of this agreement is determined to be invalid or unenforceable then such provision shall be enforced to the maximum extent possible and the remainder of the agreement will continue in full force and effect.
21. This agreement constitutes the entire agreement between the buyer and TEAM Auctions/Sekura Auction Ltd. with respect to any auction held by TEAM Auctions/Sekura Auction Ltd. at which the buyer is a bidder and this agreement supercedes all prior or contemporaneous communications and proposals in any form whatsoever whether electronic, oral or written as between the buyer and TEAM Sekura Actions Ltd.
22. You the buyer and your signatory’s are duly authorized to enter into this agreement.

**Warning abuse won’t be tolerated and will result in account suspension.**

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