Live Auction – Buyer Terms of Sale & Conditions

All Bidders agree to these terms and conditions by signing in and creating their account. Bidders understand they are guests of the auction and North Toronto Auction reserves the right to accept or deny any bidder to the auction.

In any instance where an online or physical auction experience delays for any reason, auction management has the right to extend, postpone, delay, reschedule or cancel the auction at their discretion.

Participation Terms

All Online Bidders are required to leave a $500 deposit with a valid credit card as a pre-authorization deposit. If no purchases are made, the deposit will be released within 3 business days after the close of the auction.

Deposits will not be refunded if items are purchased and not paid in full or item is not paid for and picked up with in the time periods listed below.

Bidders, whether acting as a principal, agent, officer, employee, or director of a company or otherwise, in any capacity whatsoever, and the company the bidder represents, jointly agree:

· To indemnify save harmless, North Toronto Auction and its consignor from all actions, causes of actions, suits, damages, costs and losses of any nature arising from the attendance or participation of Bidder, his agents or employees, at the auction premises or website, before during or after the auction sale, including all transactions.

· To be responsible for the payment of the purchase price and taxes and auction fees due

· To be responsible for payment terms and item collection deadlines

You cannot bid on your own lot(s). Any person caught “price boosting” or “shilling” on their own lot(s) will be asked to leave the auction and will lose all auction privileges.

Selected consignment might be subject to reserve pricing. If an item does not sell during the auction, it is no longer for sale on auction day.

Payment Terms

Complete settlement of all purchases is to be made on Tuesday following the close of the auction by 5pm Est. time.

All settlements can be made at North Toronto Auction by Cash, Certified Cheque, Bank Draft, Visa, Mastercard, or Debit. Credit Card payments are subject to 2.4% surcharge.

All Credit Card payments must be made in person, and the card holder must be present.

Remote payment options include wire transfer and email transfer. Email transfers can be made to [email protected] .

The Purchaser agrees to pay, in addition to the purchase price of the item(s), buyers’ premiums, auction administration fee applicable government taxes. It is the purchaser’s responsibility to be informed of all fees and taxes prior to their participation in the auction.

Auction Commission Structure:

This fee structure is for both registered automotive dealers and non dealer bidders.

Industrial, Heavy Trucks, Light Commercial Vehicles, Non-Operable Vehicles & Recreational Vehicles:

10% on all lots selling for $12,500.00 or less and 1% on balance over $12,500.00 if applicable. Maximum fee $3,000.00 per lot
Example Fee - Purchase price $75,000.00 - admin fee $1875.00 ($1250.00 + $625.00)
Additional 2.5% w/$750 CAP for Online Bidders

· All lots sold are subject to HST.

· All Ontario provincially regulated vehicles subject to the O.M.V.I.C fee ($22 per transaction) will be covered by the auction and submitted annually to the regulator

· All lots are subject to a $130 administration fee with the exception of Miscellaneous & Small Tools, Home Furnishings & Garden Care, & Bicycles.

No Lot is allowed to leave the auction premises without full payment and a valid release slip.

The Purchaser will not be entitled to possession of any of the said lot(s) purchased until the total purchase price of all the lot(s) have been fully paid. If the Purchaser fails to pay the full purchase price for any lot(s) within the prescribed time or fails to comply with any of the ‘Terms of Sale’, the purchaser will be sent to collections and/or small claims court. All costs incurred by the auction in the above-mentioned process will be billed directly to the purchaser. The purchaser will have their auction privileges revoked across our global network and be reported to the authorities.

Late Payment: The purchaser will be charged $100 per item not paid for by the Tuesday 5pm est deadline. This will be in addition to the $75 per day storage charge. Items with late payments have no guarantee for ownership transfer or timeframe.

Ontario ownerships for applicable purchases will be available for pick up on the Friday after final payment is due between 10am and 5pm est. If you would like your ownership mailed, please contact the office. Any item not paid for by the payment deadline will not be guaranteed to be ready in any given amount of time.

Sales Final

All sales are final.

All bids are final and not retractable. The bidder is responsible for all errors, their username and password, and activity on their account.

No sale shall be invalidated by reason of any defect or inaccuracy in any of the lot(s) by reason of their being incorrectly described in the catalogue or on the website listing and no liability shall be borne by the Auctioneers in respect of any such faults or errors.

Catalogues have been prepared only as a guide and by making their bid(s), the Purchaser shall be deemed to have inspected the equipment fully and to their entire satisfaction.

North Toronto Auction make no representation that any year of manufacture, odometer or hour meter attached to any particular lot(s) may indicate, with any degree of accuracy, the year, actual distances travelled or hours used.

Items Sold As-Is

All items are Sold As-is and not represented as being in a road-worthy condition, mechanically sound or maintained at any guaranteed level of quality. Vehicles may not be fit for use as means of transportation any may require substantial repairs at the buyer’s expense. It may not be possible to register or safety the vehicle.

Except as herein set out, there shall be no guarantees or warranties expressed or implied, statutory or otherwise of any nature whatsoever. Each item is sold on the condition that it may not be fit for use and that certain repairs may be needed to be done by the Purchaser (at the Purchaser’s expense) to make the item(s) usable or roadworthy. Specifically, but not to restrict the generality of the foregoing, the

North Toronto Auction make no representation that any of the lot(s), the subject of the auction:

a) conform to any safety or pollution standard or to any other standard or requirement of any applicable authority, law or regulation, or

b) are for any particular usage, or

c) are merchantable or financeable, or

d) are of any particular age, year of manufacture, make, model or condition.

e) current or future recalls

The buyer agrees that the decision of the auction manager in charge of disputes is final. The outcome of any decision arising from a dispute will be made by this auction manager at the manager’s sole discretion.

Registered Ontario Automotive Dealers can order a post sale inspection on their purchasers before 5pm on auction day to determine evidence of major issues on vehicles 2017 and newer. Please contact your auction representative for pricing and coverage.

Any stipulation, promise or guarantee made between the buyer and seller must appear in writing on the contract before it becomes part of the transaction. The auction assumes no responsibility for verbal commitments.

Preview

Bidders are strongly encouraged to preview items before placing a bid. The bidder is responsible to been informed of preview hours and accessibility to the yard.

The keys have been removed from the vehicles.

You will need to hand in a valid photo identification to participate in preview.

Not all items are guaranteed to be available for preview.

The Purchaser and/or their agent(s) or representative(s) acknowledges that an auction site is a potentially dangerous place.

Flammable, noxious, corrosive and pressurized substances may be present. Heavy equipment is being operated, and electrical circuits may be live.

Every person at the auction site, before, during and after the auction sale shall be deemed to be there at their own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties.

No person shall have any claim against the North Toronto Auction, their agents, employees or principals for any injuries sustained nor for damages to or loss of property which may occur from any cause whatsoever.

Anyone caught tampering with or removing parts from any lot(s) in the auction will be permanently banned from the auction premises and charged by the police.

Item Collection

All items must be picked up 7 calendar days after the auction closes. Auction day is deemed day 1. No exceptions.

Failure to pick up items on time will result in a $75 per day storage charge per item, and auction privileges and auction access to be withdrawn. The storage charge is retroactive to auction day.

Items not picked up within 30 calendar days will be deemed forfeited and sold unreserved at the next available auction. Sold amounts will be applied towards outstanding storage charges. Auction privileges will be revoked.

All costs and the responsibility of removal will be borne by the Purchaser. The Purchaser, if asking the Auctioneers to assist in the removal of any item(s) will indemnify and hold the Auctioneers and/or their staff harmless from any resulting loss or damage to the item(s) being removed. The Purchaser will supply North Toronto Auction with proof of adequate insurance before the removal of item(s) that require dismantling, rigging or hot cutting. The Purchaser agrees to indemnify and save harmless both the Seller and the North Toronto Auction against any damage caused by the acts of the Purchaser and/or their agent(s) in connection with the dismantling or removal of any lot(s).

Loading assistance is available between 9am-3:30pm Monday to Friday only.

Item collection is based on first come first serve and may not be guaranteed in a certain timeframe.

North Toronto Auction reserves the right to transport any items that remain at the auction after the 7 calendar days. The purchaser will bear the cost of the transport at cost plus 20%. The delivery will be scheduled and at the discretion of the auction not the purchaser. In any event that the purchaser does not accept/receive the items, the transport company will be instructed to take the items to a non auction related compound. The purchaser will then be responsible to arrange with the transport company for item collection under the transport companies’ storage policies. The transport company will also be collecting any fees owed to the auction.