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1. 1.    DEFINITIONS

1.1. In these Conditions the following expressions have the following meaning:

1. 2.    AUCTION

2.1. TheLot will be sold at the Auction to the Buyer either in person or via an online bidon the day advertised or announced by Canute. Online bidders should refer to paragraph 5.

2.2. The Contract is formed immediately upon the Buyer’s bid for the Lot being accepted by the Auctioneer on the fall of the hammer.

2.3. By participating in the Auction, the Buyer will be deemed to have accepted and be bound by these terms and conditions.

2.4. The Buyer represents and affirms that it is acting as principal, unless otherwise agreed in writing in advance by Canute, and is legally allowed to purchase the Lot.

2.5. Canute reserve the right to require the Buyer to sign secondary terms and conditions of the seller in order to buy certain Lots from certain sellers.  Canute shall make such terms and conditions available before to the Auction.

1. 3.    ESTIMATES AND DESCRIPTIONS

3.1. Canute reserves the right to amend any estimate or description of a particular Lot at any time before the Auction begins.

3.2. THE LOT IS PURCHASED “AS IS” AND “WHERE IS” IRRESPECTIVE OF CONDITION, WEAR, DAMAGE, AND WITH ALL FAULTS.

3.3. Canute does not provide any warranty, guarantee or representation, either express or implied, written or oral, as to:

3.3.1.      the anticipated or likely selling price of the Lot. Any estimates given, whether written or oral, are a statement of opinion only and are subject to revision from time to time at Canute’s discretion. The Buyer agrees and accepts that any estimate should not be relied upon as an indication of the Hammer Price;

3.3.2.      the design, condition, merchantability, fitness for any particular purpose, quality, capacity, workmanship, or that the Lot will satisfy the requirements of any law, rule or regulation;

3.3.3.      the accuracy or completeness of any statement or representation made by or on behalf of  Canute or the Auctioneer which is in any way a description of the Lot. The Lot shall not be sold or deemed sold by description and any description shall be for identification purposes only.

3.4. The Lot shall be available for inspection before the Auction and the Buyer must satisfy itself that it wants to participate in the Auction.

1. 4.    PAYMENT

4.1. The Buyer must pay either: (i)the Purchase Price; or (ii) a non-refundable deposit of 50% of the Hammer Price to Canute. Live Buyers must make this payment on the day of the Auction; online Buyers must make this paymentno later than midday on the day following the day of the Auction; an international Buyer must make this payment within 5 working days of the Auction

4.2. The Auctioneer may at its discretion, at any point before conclusion of the Auction, request a deposit of any level from any Auction participant before that person may continue bidding.

4.3. In the event the Buyer makes a deposit payment under paragraph 4.1(ii), the Buyer must pay the outstanding balance of the Purchase Price to Canuteby 5:00 pm on the Friday following the Auction, except for an international Buyer who must have made this payment by 5.00 pm on the 5^th working day following the Friday following the Auction.

4.4. Canute reserves the right to cancel the Contract if anypayment is not received under this paragraph 4, and any deposit received will be non-refundable.

4.5. Payments may be made by cash, debit card or credit card. BACS and CHAPSpayments will be accepted by prior arrangement only.

4.6. Canute may, at its discretion, set-off any registration participation depositagainst the Purchase Price.

4.7. The Purchase Price shall be subject to VAT in all cases. Canute may refund the VAT paid by the Buyer on the production of a bill of lading or relevant export document to the satisfaction of Canute.

1. 5.    ONLINE BUYERS

5.1. Online auction services are provided by i-bidder.com. By using the online auction services all online bidders are deemed to have accepted the Bidder Terms and Conditions provided at www.i-bidder.com/en-gb/about-us/legal/bidder-terms-and-conditions. Canute advises all online bidders to read these before participating in any online Auction.

5.2. IMPORTANT: In accordance with clause 11.3 of the Bidder Terms and Conditions referred to in paragraph 5.1, any payment due under paragraph 4.3 that is not received in cleared funds by Canute will be taken from the credit card or debit card provided during the i-bidder.com registration.

1. 6.    PREMIUMS

6.1. In addition to the Hammer Price a Buyer’s premium of 17% of the Hammer Price shall be payable to Canute and shall be included in the Purchase Price.

6.2. In addition to paragraph 6.1, if purchased online an additionalonlinepremium of 3% of the Hammer Price shall be payable to Canute and shall be included in the Purchase Price.

6.3. Canute reserve the right, at its discretion, to adjustany premium under this paragraph 5 according to how the bid was placed and the method of payment used.

1. 7.    INSURANCE

7.1. Any Auction participant who causes scratches, loss or damaged to the Lot (or any part thereof) either before, during or after the Auction will be liable for and indemnify Canute for all costs and expenses arising from such loss or damage.

7.2. Risk in the Lot will pass to the Buyer on the fall of the hammer at the Auction. From this point Canute will not be responsible for the Lot and the Buyer will indemnify Canute from and against all claims, proceedings, costs, expenses and losses arising in respect of any injury, loss or damage caused by or to the Lot.

7.3. Title to the Lot will pass to the Buyer on payment of the Purchase Price in cleared funds and collection of the Lot under paragraph 8.2.

7.4. After the Auction, the Buyer is responsible for checking the quantities of the Lot before check out. No adjustments in quantities will be made after the Lot is checked out by or on behalf of the Buyer.

1. 8.    REMOVAL AND STORAGE

8.1. No Lot shall be removed until after the Auction and the Purchase Price is received in full by Canute in cleared funds. The Lot will not be released without a signed credit/debit card receipt or paid invoice receipt or other evidence of payment required by Canute.

8.2. The Lot must be removed by or on behalf of the Buyer within 5 working days of the Auction, or, for an international Buyer, within 10 working days of the Auction. A charge of £2.50 per item per day will be levied for storage of any Lot for each day thereafter.

8.3. The Buyer is solely responsible for:

8.3.1.      packaging, loading, removing, shipping and all other costs associated with removingthe Lot;

8.3.2.      all risk of loss, damage and personal injury caused by removing the Lot;

8.3.3.      repairing and restoring any loss or damage caused by removing the Lot;

8.3.4.      providing adequate insurance for the Lot from the fall of the hammer, and Canute reserves the right to request a copy of the insurance policyat any time.

1. 9.    NON-PAYMENT OR FAILURE TO COLLECT

9.1. If a Lot is not removed within the time limit under paragraph 8.2 and/or the Purchase Price has not been paid in full by the required time limit under paragraph 4.1 or 4.3, the Lot will be deemed abandoned, title to the Lot will remain with the Seller and any payment previously made by the Buyer will be forfeited.

9.2. On the happening of any event under paragraph 9.1, Canute shall be entitled, at its discretion, to exercise one or more of the following rights:

9.2.1.      to terminate the Contract immediately for the Buyer’s breach of contract;

9.2.2.      to resell the Lot by auction, private treaty or any other means on giving 7 days written notice to the Buyer of the intention to resell, and if this re-sale results in a lower price being obtained, the Buyer shall pay to Canute any deficiency plus the re-sale costs and any costs incurred in connection with the Buyer's failure to make payment. Any surplus shall belong to Canute and/or the Seller;

9.2.3.      to remove and store the Lot at the Buyer’s expense;

9.2.4.      to charge the Buyer interest on the overdue amount at the rate prescribed under the Late Payment of Commercial Debts (Interest) Act 1998, as amended. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. The Buyer shall pay the interest together with the overdue amount;

9.2.5.      to retain possession of the Lot and any other lot sold to the Buyer and release the same only after payment of all amounts owed to Canutein cleared funds;

9.2.6.      to retain possession of the Lot and any other goods sold to the same Buyer and to sell, on 1 month's written notice to the Buyer, any property of the Buyer without reserve (including without limitation other lots sold to the Buyer) and to apply any monies due to the Buyer as a result of such sale in satisfaction or part satisfaction of any amounts owed to Canute;

9.2.7.      so long asany Buyer’s property remains in Canute’s possession as the Buyer’s bailee, to rescind the Contract for the sale to the Buyer of any other goods and apply any monies received from the Buyer in respect of such other goods in part or full satisfaction of any amounts owed to Canute;

9.2.8.      as agent for the Seller, to repossess the Lot (or any part of the Lot)to which the Seller still owns title, and for this purpose the Buyer grants an irrevocable licence to Canute by itself and to its servants or agents to enter all or any of the Buyer's premises (with or without vehicles) during normal business hours to take possession of the Lot or part of the Lot;

9.2.9.      take such steps as Canute considers necessary to collect the monies due from the Buyer, including taking legal proceedings against the Buyer and to agree terms for the payment of the Purchase Price;

9.2.10.   to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this paragraph including the issue of proceedings, and to settle claims and/or proceedings made by or against the Buyer on such terms as Canute in its discretion thinks fit.

9.3.   The Buyer agrees to indemnify Canute against all legal and other costs incurred as a result of taking steps under this paragraph on a full indemnity basis including interest, whether before or after judgment, at the rate specified in paragraph 9.2.4 form the due date until payment.

10. THE AUCTIONEER

10.1.  The Lot may be offered subject to a reserve price without notice to the bidders.

10.2.  The Auctioneer may, at its discretion, without reason, notice or liability of any kind, at any time prior to or after commencement of the Auction, but prior to the fall of the hammer:

10.2.1.   alter, withdraw or vary any or all items/lots;

10.2.2.   refuse to accept any bid;

10.2.3.   terminate bidding on any or all items/lots; or

10.2.4.   cancel the Auction entirely.

10.3.  The Auctioneer shall have the right at any time to offer a complete facility or the entire balance of remaining items/lots as a single Lot.

10.4.  The advances, progression, and rules in the bidding shall be regulated at the sole discretion of the Auctioneer and the Auctioneer reserve the right:

10.4.1.   to commence and advance the bidding at levels and increments it considers appropriate;

10.4.2.   not to acknowledge or accept any bid which is merely a fractional advance over the preceding bid;

10.4.3.   to refuse any bid for any reason; or

10.4.4.   in the event of a tie, to reopen the bidding to determine the highest bidder.

10.5.  The Auctioneer may change, amend or modify these terms and conditions at any time in writing or orally by announcement.

11. LIABILITY

11.1.  Canute shall under no circumstances whatsoever be liable to the Buyer, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with the Contract.

11.2.  If, for any reason whatsoever, Canute fails to deliver a Lot, Canute's sole liability shall be the return of any deposit or monies paid by the Buyer in respect of the relevant Lot, and the Buyer shall have no further claim whatsoever including without limitation direct, indirect, consequential, exemplary or incidental damages.

11.3.  Canute’s total liability to the Buyer in respect of all other losses arising under or in connection with the Contract, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the Purchase Price.

11.4.  Nothing in the Contract shall exclude or limit Canute’s liability for fraud, fraudulent misrepresentation, death or personal injury caused by Canute’s negligence or the negligence of Canute’s employees, agents or subcontractors (as applicable).

11.5.  The Buyer agrees that:

11.5.1.    the Lot has previously been used by a third party;

11.5.2.    it shall take the second hand Lot in its current state and has satisfied itself as to its quality and fitness for purpose;

11.5.3.    the Lot is non-refundable; and

11.5.4.    all out of date consumables are purchased at the Buyer’s risk.

12. NOTICES

12.1.  Any notice or other communication given to a party under or in connection with the Contract shall be in writing, addressed to that party at its registered office (if it is a company) or its principal place of business (in any other case) or such other address as that party may have specified to the other party in writing in accordance with this paragraph, and shall be delivered personally, sent by pre-paid first class post or other next working day delivery service, commercial courier or fax.

12.2.  A notice or other communication shall be deemed to have been received: if delivered personally, when left at the address referred to in paragraph 12.1; if sent by pre-paid first class post or other next working day delivery service, at 9.00 am on the secondbusiness day after posting; if delivered by commercial courier, on the date and at the time that the courier's delivery receipt is signed; or, if sent by fax, one business day after transmission.

12.3.  The provisions of this paragraph shall not apply to the service of any proceedings or other document in any legal action.

13. FORCE MAJEURE

13.1.  Canute shall not be liable for any failure or delay in performing its obligations under the Contract to the extent that such failure or delay is caused by a Force Majeure Event. A “Force Majeure Event” means any event beyond Canute’s reasonable control, which by its nature could not have been foreseen, or, if it could have been foreseen, was unavoidable, including strikes, lock-outs or other industrial disputes (whether involving its own workforce or a third party's), failure of energy sources or transport network, acts of God, war, terrorism, riot, civil commotion, interference by civil or military authorities, national or international calamity, armed conflict, malicious damage, breakdown of plant or machinery, nuclear, chemical or biological contamination, sonic boom, explosions, collapse of building structures, fires, floods, storms, earthquakes, loss at sea, epidemics or similar events, natural disasters or extreme adverse weather conditions, or default of suppliers or subcontractors.

14. GENERAL

14.1.  Data protection. All personal information provided to Canute by the Buyer will be treated confidentially and shall not be passed to third parties, except where necessary to complete the sale of the Lot. Canute may disclose such confidential information as is required to be disclosed by law, any governmental or regulatory authority or by a court of competent jurisdiction.

14.2.  Variation.Except as set out in these terms and conditions, no variation of Contract, including the introduction of any additional terms and conditions, shall be effective unless it is agreed in writing and signed by the Canute.

14.3.  Waiver. No failure or delay by a party to exercise any right, power or remedy will operate as a waiver of it, nor will any partial exercise preclude any further exercise of the same, or of some other right, power or remedy.

14.4.  Severability. If any part of theContract is unenforceable, the enforceability of any other part of the Contract will not be affected.

14.5.  Entire Agreement. The Contract contains the whole agreement between the parties in respect of its subject matter and supersedes any prior written or oral agreement between them relating to it and the parties confirm that they have not entered into the Contract on the basis of any representations that are not expressly incorporated in the Contract. Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in the Contract, but nothing shall limit or exclude any liability for fraud.

14.6.  Third party rights. The parties to the Contract do not intend that any term of the Contract shall be enforceable by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person that is not a party to it.

14.7.  Consumer Credit Act. The Consumer Credit Act 1974 as amended does not apply to the Contract.

14.8.  Governing law. This Contract, and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with the law of England and Wales.

14.9.  Jurisdiction. Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Contract or its subject matter or formation (including non-contractual disputes or claims).