DEFINITIONS & INTERPRETATIONS

The following definitions, interpretations and expressions shall apply to all Contracts, references
and business dealings with BID4U.

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New Car Extended Warranty

means a warranty purchased separately prior to the expiry of the New Car Manufacturers Warranty which extends the New Car Manufacturers Warranty for an additional period of timeframe and/or mileage, whichever comes first.
(New Car Manufacturers Warranty, New Car Statutory Warranty, Used Car Statutory Warranty, Extended Warranty, Warranty)

New Car Manufacturer's Warranty

means a warranty provide by the manufacturer or distributer of a new vehicle which typically cover all defective items on a car. New Car Manufacturer's warranties generally exceed New Car statutory warranty. Most Manufacturer's currently provide a minimum New Car Manufacturers Warranty of 3 years or 100,000 km, whichever comes first. Several manufacturers, such as Hyundai offer a 5 year, 130,000 km new car warranty, whilst other manufacturers, such as a Kia offer a 7 year unlimited km New Car Manufacturer's Warranty.
(New Car Statutory Warranty, Used Car Statutory Warranty, Extended Warranty, Warranty)

New Car Statutory Warranty

means a legislated mandatory warranty, providing comprehensive cover for a new vehicle for a minimum of 12 months or 20,000 km, whichever comes first. In most cases, New Car Manufacturer Warranties exceed the New Car Statutory Warranty and both warranties cover all defective items on a car. (New Car Extended Warranty, New Car Manufacturers Warranty, Used Car Statutory Warranty, Extended WarrantyWarranty)

New Vehicle

means a brand new vehicle that has not been previously used or registered.

No Reserve

means where the Auctioneer has not placed a reserve price on a lot which must be met or exceeded in order for the lot be sold.

Nominated Account

means a General Account and/or Trust Account operated by Bid 4 U.

Nominated Balance

means the difference between the Client’s Maximum Bid less the nominated deposit payable to Bid 4 U within the timeframe specified in the Fee Schedule where Bid 4 U is contracted to pay the balance to the Auctioneer or seller on the Client’s behalf.

Nominated Deposit

means the deposit, calculated at the percentage outlined in the Terms and Conditions of Sale on a Client’s Maximum Bid, payable to Bid 4 U within the timeframe specified in the Contract where Bid 4 U is contracted to pay the deposit to the Auctioneer or Seller on the Client’s behalf.

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Nominated Order Of Preference

means the preferential lot or item order chosen by a Client which Bid 4 U is contracted to either sequentially bid and/or negotiate on the Client’s behalf, up to but not exceeding the Client’s Maximum Bid for each lot or item.

Notices Sent

means when communication is given by telephone, text message, electronically, via the Client's individual Client Access, in person, fax or post to the address or numbers in the Contract or the address or numbers held by Bid 4 U, will be considered to have been duly received, whether or not acknowledgement is received:

If sent by e-mail or text:
On sending the e-mail or text message
If sent by fax: 
  At the conclusion of transmission.
If sent by mail:
  Two days after the date of posting if posted to an address within Australia and five days after the date of posting if posted to another country.
If delivered by Hand:   It shall only be necessary to produce a receipt for the communication which is signed by or on behalf of the addressee; or if receival of the communication is refused, rejected or unacknowledged, the time and date of service is recorded by Bid 4 U.
By Post:   It shall only be necessary to prove that the communication was contained in a pre-paid envelope which was duly addressed and posted.

Notices Received

 
means when a written communication from the Client is acknowledged to have been duly received by Bid 4 U.
 

 

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These definitions and interpretations may be subject to review and change from time to time 


 

*MTA Member Bidding Service DL: 18363*