AUCTION VENDOR'S TERMS
(As per Aug.1st, 2002)
- The vendor guarantees, that he is the sole
proprietor of the submitted lots, or that he has the absolute
right of disposal for said lots, and he guarantees, that said
lots are not subject to any third party rights or claims.
- The auction commission due is 10.5% of each
lot's hammer price. A fee of 105 Yen is due for each lot submitted
for sale. These commissions and fees include the Japanese consumption
tax due on services rendered in Japan. Return postage and registration
for any unsold lots and / or lots, that are not considered suitable
for auction by the auctioneer, are to be paid by the vendor.
- All items submitted for auction remain the
vendor's property until paid for in full by the buyer. For any
expertisation deemed necessary, the terms
of the Philatletic Experts' Federation "BPP e.V."
(Germany) are considered valid and binding. Expertising fees
will be borne by the vendor. In case the auctioneer considers
an expertisation as absolutely necessary, the expertisation will
be made without further authorization. Items found to
be forgeries will be electronically archived by the auctioneer
as a means of fraud prevention.
- The auctioneer is entitled to sell any unsold
lots at start price after the sale. Unsold lots will remain in
the auctioneer's premises for up to two weeks following the sale.
- The auctioneer will fix start prices. The
vendor has the right to fix start prices to be agreed on by the
auctioneer. Bids below start price will not be considered.
- The auctioneer reserves the right to refuse
a consignment or parts thereof without obligation to justify
his decision.
- The consignment order is considered valid
and binding. Withdrawal of a consignment or parts thereof by
the vendor is possible against payment of 25% of the withdrawn
lots' start prices to cover expenses incurred. This fee will
be reduced to 10% for lots, for which a sale date has not been
fixed at the time the withdrawal order is received.
- Settlement will start immediately after receipt
of payments. The vendor has no right to claim settlement prior
to settlement by his lots' buyer(s). In case of doubt, the vendor
may request evidence proving non-settlement of buyers' accounts.
By default, payment is made by post giro remittance. In case
of other means of payments requested by the vendor (bank draft,
money order, cash), fees incurred will be deducted from the amount
due.
- Sapporo is place of performance, Sapporo
District Court is the sole competent court.
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