The standard Conditions of Sale for the Nedbank CWG Auction are as follows:

1. The Auction conditions shall govern the relationship/s between the Auctioneer, the Guild, the Seller, the Bidder and the Purchaser and / or the Product and / or any matter relating thereto or resultant there from.

2. Every sale shall be subject to the control of the Auctioneer who shall have the sole right to regulate the advance in the bidding. Every bid shall constitute an offer to purchase the product or any lot auctioned for sale at the amount bid. The Auctioneer reserves the right to withdraw any Lot or Lots or to vary the order of same.

3. The highest bidder at the Auction shall be the person indicated by the Auctioneer by the fall of the hammer or by such other means as he may select. In the event of a dispute arising between any two or more Bidders, the Auctioneer shall have the right in his sole discretion to declare the sale to be of no force or effect and to re-sell the Product in question, alternatively to select the Purchaser to whom the respective lot shall have been sold. The Auctioneer may accept or reject any bid without giving a reason. The Auctioneer’s decision in all cases is final.

4. Registration to purchase wine at the Auction implies that the Purchaser is familiar with, and fully accepts, the Auction Conditions of Sale details as contained herein.

5. Upon registration, the Purchaser will pay a refundable deposit of R2 000, either by credit card, bank guaranteed cheque or cash cheque. Such deposit payable shall be at the discretion of the Guild.

6. The Auctioneer will issue, upon request, pro-forma invoices (excluding VAT, delivery and insurance) on the day of the Auction.

7. The Auctioneer, Guild and / or Seller shall be entitled to correct any error in calculation in the pro-forma invoice and /or incorrect information that may be reflected thereon.

8. Final tax invoices (including VAT, delivery and insurance where applicable) will be presented to Purchasers by the Sellers within 14 days of the Auction.

9. Payment must be made upon receipt of final invoice either by cash, cheque, and transfer into the Guild’s bank account or credit card. The Guild reserves the right to charge interest on payments not received within 30 days of receipt of invoice. A 3% commission on total purchase price would be payable by the online bidder

10. Ownership will not pass until the purchase price has been paid in full. No Lot or Lots may be removed until then.

11. All Purchasers are to take possession of their purchases within eight weeks from the date of Auction unless otherwise arranged. The Guild reserves the right to charge storage fees on wines not collected by 30 November 2012.

12. The price bid for any product shall not include Value Added Tax, Insurance, Transportation, Export Charges and FOBBING costs of any wines shipped overseas.

13. The risk in the product shall pass to the Purchaser upon the Product leaving the premises of the Seller. In the case of the Product being exported, the risk shall pass to the Purchaser on delivery of the Product to the shipping agent / freight forwarder.

14. The Seller shall dispatch the Product purchased at the Auction within 60 (sixty) days from the date of the Auction provided payment by the Purchaser has been received in full by the Guild.

15. The sale is voetstoots. No warranty is given or implied by the designation in the catalogue and no allowance whatsoever will be made for misdescription or errors of whatsoever nature. A bid shall be taken as proof that bidders have made themselves acquainted with the Lot for which they have bid.

16. The Auctioneer’s Vendue Roll of Sale is final and no dispute will be taken into consideration as to the correctness of the same. All lots knocked down are at the risk of the Purchaser at the fall of the hammer.

17. The Auctioneer and / or the Guild are prepared to execute bids on behalf of buyers if instructed to do so. Notwithstanding the acceptance of a Postal Bid Mandate by the Auctioneer and/or the Guild, the Auctioneer and/or the Guild shall not be obliged to execute such a bid and the Purchaser shall have no claim in damages whether direct or indirect or consequential from whatsoever cause arising against the Auctioneer, the Guild and/or any person nominated by the Guild.

18. The Purchaser chooses his domicilium citandi et executandi at the address given on the signed Purchaser’s card.

19. The Purchaser consents to the jurisdiction of the Magistrate’s Court and the Auctioneer has the sole discretion to institute an action in the Magistrate’s Court, if appropriate and applicable.

20. In the event that it becomes necessary for the Auctioneer, the Guild and / or the Seller to take any legal action to ensure performance of these conditions or any agreement concluded, pursuant thereto or in respect of any transaction which is governed by these conditions, the Purchaser shall be obliged to pay the Auctioneer, the Guild and / or the Seller as the case may be, all legal costs and expenses incurred on the sale as between attorney and own client including collection commission and the Auctioneer, the Guild and / or the Seller shall be entitled to claim the same.