DEFINITIONS & INTERPRETATIONS

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

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ABN

means Australian Business Number as defined in the New Tax System (Australian Business Number) Act 1999 as amended.

ABS (Anti-Lock Braking System)

means an electronic anti-lock braking system that prevents the wheels from locking up when braking.  Wheel speed sensors measure the road wheel speed, and in the event one or more wheels start to lock, the ABS system automatically reduces brake pressure to that wheel preventing that wheel from locking thus enabling the vehicle to remain steerable during heavy or emergency braking. (Brake Assist)

Absentee Bid

means a bid, from a person who is unable to personally attend an auction, which is accepted by the Auctioneer on the bidder’s behalf and executed by the Auctioneer at the bidder’s liability and risk.

A/C

means an abbreviation for air conditioning.

Acceptance

means the Client's agreement of the terms and conditions of the Contract or offer.

Accepted Bid

means a bid made by any person for a lot that is accepted by the Auctioneer. (Bid)

Note:    An Accepted bid may not necessarily be the highest bid on the Fall on the Hammer.

Achieved

means the Hammer Price of a lot purchased at auction or the purchase price of a lot or item (in Australian dollars) excluding the buyer’s premium, GST and all other fees or charges levied or imposed by the Auctioneer or by any other party for any reason, including for default of an auction condition. In other words, the amount Achieved is the purchase price or sale price.  (Amount Realised)

For Example:
If the Hammer Price for a lot at a GST exclusive auction is $1,000, and a 10% buyer’s premium applies, the amount Achieved would be $1,000. That is; $1,000 Hammer Price, excluding the $100 buyer’s premium and the $110 GST.

 

 
The amount Achieved does not include:
  • BID4U's professional services fees;
  • Lot dismantling, removal, transport, delivery, assembly and insurance costs;
  • Any other fees, charges, expenses or taxes which may be payable, such as stamp duty, luxury car lax and license transfer fees.  
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Administration Fee

means a GST exclusive professional service fee, as detailed in the Fee Schedule, charged by BID4U to arrange additional services or liaise with suppliers or third parties, such as; arranging a mechanical inspection, on the Client's behalf.

Advertising Costs & Expenses

means the advertising costs and expenses incurred by BID4U on a client’s behalf order to:

  • Tender on a vehicle, mobile plant, machinery, equipment, component or accessory
  • Locate a vehicle, a supplier, component or accessory
  • To instigate, induce, initiate or encourage the sale of vehicle or any component or accessory
  • To instigate, induce, encourage or persuade a person or their agent to consider selling any vehicle, component or accessory
  • To publicise, announce or advertise that a vehicle, component or accessory is being sought, wanted or required by a Client.

Agent

means a corporation, firm, dealer, organisation, person or entity who is authorised to act on behalf of or represent another person in return for a fee or otherwise.

Agreed Reserve

 
means price agreed to in writing between the Auctioneer or Agent and the Seller at which the lot or item may be sold.

Amount Realised

means the Hammer Price for a lot purchased at Auction or the purchase price of a lot or item (in Australian dollars) including the buyer’s premium and GST but excluding all other fees or charges levied or imposed by the Auctioneer or by any other party for any reason, including for default of an auction condition. (Achieved)

For Example:
If the Hammer Price for a lot at a GST exclusive auction is $1,000, and a 10% buyer’s premium applies, the amount Achieved would be $1,000. That is; $1,000 Hammer Price, excluding the $100 buyer’s premium and the $110 GST.

 

 
 
The Amount Realised does NOT include: BID4U’s professional service fees, lot dismantling, transport, removal, delivery, assembly and insurance costs, any other fees, charges or taxes which may be payable, such as stamp duty, luxury car tax or license fees.

Antique

means an inanimate object, article, item or thing generally considered aged between circa 1492 AD circa 1910 AD.

Antiquity

means the quality of being ancient and generally refers to inanimate archaeological or anthropological objects, articles, items or things preceding the middle ages in Europe and includes fossils, ruins, relics, statues, artifacts and remains as well as funerary, sacred and culturally significant objects from Egypt, Greece, Rome and the near East.

A-Pillar

means the windscreen and roof support in front of the front doors. (B-Pillar, C-Pillar, Pillar)

Arrangement Instructions

means the instructions given to Bid 4U by the Client authorising Bid 4 U to make arrangements on the Client's behalf, including liaising with suppliers or third parties.

Arrival Time

means: The time and date BID4U arrives at an auction, dealer's premises, private seller's premised or other premises for the purposes of forensically examining, valuing, bidding and/or neotiating a purchase of a vehicle on a Client’s behalf.

As-Is-Where-Is-Basis

means that the condition of a lot or item as it is viewed at the time and place of the auction or sale and includes all present damage, wear and tear, signs of age, breakage, restoration and repairs as well as all other faults and imperfections including those not expressly stated or referred to in the Terms and Conditions of Sale, catalogue, condition report or other report.

Note 1. The majority of items offered at auction are offered on an ‘As-Is-Where-Is-Basis’.
  2. Most items auctioned are pre-owned and as such are not in perfect condition.  Pre-owned vehicles may exhibit signs of age, wear and tear or may contain other imperfections such as chipped windscreens, had parts replaced or have undergone repairs or restoration.
   3.  The condition of a lot may differ from that described in the Terms and Conditions of Sale.
  4. The condition of a lot or item can alter from the time of viewing to the time of its auction or sale and may again alter prior to its collection by the buyer.
    5. 
Clients should always satisfy themselves as to the age, authenticity and condition of a lot and the accuracy of its description.

 

 

     

 
 





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Attendance Fee

means a non-refundable GST exclusive professional service fee, as detailed in the Fee Outline, that is payable to BID4U to engage our professional services during the Exclusive Rights Authority Period to purchase a new or used vehicle.

Auctioneer’s Fees & Charges

 
means the aggregate of all the fee’s and charges levied by an Auctioneer on a lot sold at auction including the Buyer’s Premium, GST, Security Fee as well as any other fees, charges or penalties that may be levied or imposed by the Auctioneer or any party from time to time for any reason, including for default of an auction condition. 

Auction Estimate

means the estimated price or price range that an Auctioneer believes an object, article, item or thing will sell for at Auction.

Note 1. Auction price estimates may be set as a single estimated price.  For example: $15,000, or more commonly, as a price range such as $15,000 to $15,500.
  2. Auction price estimates may differ depending on the item offered for sale and the type of auction.  Some vehicles may have small price estimate variances such as; $15,000 to $15,500 whilst other items may have large price estimate variances such as; $150,000 to $205,000.
   3.  Auction estimates are just that - estimates.  As a consequence some Auction Estimates may be over or under estimated, particularly where the item is inocrrectly described or mistakenly catalogued by the Auctioneer.  (Reserve / Reserve Price)
 
 
 



 
 

 

Auctioneer's Terms and Conditions of Sale

means the same as Terms and Conditions of Sale.

Australian Design Rules (ADRs)

means the national standards for vehicle safety, anti-theft and emissions administered by the Australian Government under the Motor Vehicle Standards Act 1989 All road vehicles, including new and second hand vehicles manufactured or imported into Australia, must comply with the relevant ADRs.

When a road vehicle is first used on Australian roads the relevant state or territory government's legislation requires that the vehicle must comply with the relevant ADRs as at the time of manufacture or supply.

ADRs are generally performance based and set minimum standards for areas such as; occupant protection, vehicle structure, lighting, engine exhaust emissions, noise and braking performance.   In addition, the ADRs also cover a range of miscellaneous items and set minimum standards for components such as; seat belt performance and strength, seat belt anchorage strength and crash test performance for collapsible steering columns and burst-proof door locks. 

Since the mid 1960’s, vehicle safety requirements gradually expanded to include items that could not be inspected and which can only be determined by laboratory testing and/or crash testing.  Consequently, the only practical way manufacturers and importers can obtain ADR approval is to test vehicles, including to destruction. (Build Date, Compliance DateDate First Registered)

Australian Resident

means a person who permanently resides in Australia.  

 

 
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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*