TERMS AND CONDITIONS – VKB ONLINE TENDER PROCESS
1. CLOSING DATE AND VIEWING ARRANGEMENTS
1.1. The closing date and time of each tender process will be as published on the website of VKB.
1.2. Bidders wishing to view an item open for tender may arrange a viewing with the contact person as indicated on the website of VKB.
1.3. The tender process will commence on the date and time as published on the website of VKB.
2.1. There is no duty on VKB to affect any latent or patent repairs on any of the items open for tender.
2.2. All items are sold without any warranties or guarantees of any kind whatsoever, including warranties or guarantees on fit-for-purpose condition or mechanical ability of any item.
2.3. It is recorded that the bidder has had a reasonable opportunity to inspect any of the items open for tender (and then accepted the condition and state thereof) and has decided, out of his/her own free will, to bid on an item open for tender.
2.4. Any item sold through VKB’s online tender process is sold 'voetstoots' or 'as is'.
2.5. VKB is not liable in any way for any errors on inaccuracies in the description or identification of any items open for tender. In making a bid, a bidder shall be deemed to have acquainted him- / herself fully with the items on which he/she bids.
2.6. VKB provides no warranties as to the correctness of information on any of the items open for tender.
3. SALE BY TENDER PROCESS
3.1. The bidder with the highest accepted bid will be deemed to be the purchaser.
3.2. Should two or more bidders have identical bids, all of which are regarded as the highest bid, then the bidders shall be informed accordingly, and they will be allowed sufficient time to submit higher revised bids should they be desirous to do so.
3.3. A successful bidder will be notified by email notification, which notification will contain further details regarding the payment procedure.
3.4. VKB reserves the right to withdraw any item listed for sale prior to an award being made to a successful bidder.
3.5. VKB is not obliged to accept the highest offer or any bid as such.
4. PAYMENT PROCEDURE
4.1. A successful bidder must affect full payment of the purchase price within 3 (THREE) days from the date of the email notification (as set out in paragraph 3.3) confirming a tender award.
4.2. Payment must reflect the reference number as indicated on the said email notification.
4.3. In the event that the Purchaser do not comply with paragraph 4.1 above, the successful bidder expressly and unequivocally acknowledges that his/her bid will be regarded as null and void and agrees that the relevant item may be resold on VKB’s online tender platform.
5. COLLECTION OF AN ITEM
5.1. The successful bidder shall be obliged to arrange for collection of an item within 48 (FORTY-EIGHT) hours from payment of the purchase price in accordance with paragraph 4.1 above.
5.2. The successful bidder shall, at its own risk and expense, arrange for collection of an item from any of VKB’s premises where the item was stored for viewing by all potential bidders.
5.3. An item will only be released to the successful bidder once payment for the item is reflected on VKB’s bank statement.
5.4. VKB reserves the right to charge a storage fee of R300.00 (THREE HUNDRED RAND) per day or any part thereof, for each day the successful bidder fails to collect the item in accordance with clause 5.1. Such storage fee shall be payable by the successful bidder before the relevant item can be released to the successful bidder.
6. RISK AND OWNERSHIP
6.1. All risk in relation to an item open for tender shall pass to the successful bidder on submission of the email notification by VKB to the successful bidder as set out in paragraph 3.3 above.
6.2. Ownership in the items shall pass to the successful bidder only on payment of the full purchase price (including any storage fees) to VKB.
VKB accepts no responsibility for loss of a potential purchase, should a bid not be recorded as a result of the bidder being disconnected or the online system going offline during the tender process.
If a bidder breaches any of the terms and conditions included herein, he/she shall be liable to pay any cost incurred by VKB as a result of the breach including claim for damages, administration costs, storage costs and legal costs as between the attorney and own client including collection commission.
All tender amounts submitted by a bidder shall be regarded as being inclusive of VAT.