3. Seller declares they are the rightful owner of the assets and has the right to sell the assets and that the assets are unemcumbered.
4. This mandate will be effective as from the date of signing thereof and remains in force for 60 days after date of auction.
5. The seller hereby mandates Orimax Asset Management (Pty) Ltd auctioneer/agent, to sell all the assets detailed by the seller subject to confirmation by Orimax Asset Management who undertakes to perform all lawful and reasonable requests from the seller and to discharge their duties and obligations with the objective to sell the assets optimally.
6. The agreed seller’s commission will be zero percent (0%).
7. Orimax Asset Management, will be responsible for the advertising and marketing costs.
8. The auction will be an online auction using the I-Bidder.com portal.
9. The seller hereby agrees that this mandate will continue on a month to month basis after the initial mandate has expired.
10. The seller further agrees that they are bound to the non-disclosure to any party/persons or agent regarding mandate prices, reserve prices and to assist as far as possible to obtain all documents pertaining to the goods sold which include, but are not limited to NATIS documents, title deeds and any other applicable documents to make the sale possible.
11.Orimax Asset Management, and/or their representatives will be allowed access to the assets that are approved for sale in order to set up the auction and to prepare the lots for viewing and auction.
12. Orimax Asset Management, undertakes to supply the seller with an itemized auction report of all the lots that were sold and the highest hammer prices realized in compliance with the existing service level agreements as soon as possible after conclusion of the auction. Moreover, the seller will be given access to the online bidding platform to view the progression of the bidding process.
13. Orimax Asset Management, undertakes to pay the sales proceeds minus the approved costs as soon as possible after all buyers payments have been collected and cleared in the bank account of Orimax Asset Management.
14. The SELLER signing this mandate warrants that they have the authority to do so and a copy of a company resolution, members decisions or trustees resolution must be provided in the event that a legal entity is the seller, and in the event that the person signing this mandate does not have the authority then the seller shall be held personally liable to Orimax Asset Management for all cost as contemplated in the Regulations of the Consumer Protection Act 68 of 2008.
15. This agreement constitutes the whole agreement between the seller and Orimax Asset Management and any variation, alteration cancellation or additions to these terms will only be of effect if reduced to writing and signed by both parties.
16. It should be noted that the withdrawal of any of the equipment once the Mandate has been signed will incur a levy of 5% of the equipments value against the Seller.
17. All items either listed online or loaded manually via an off line process will be covered by this mandate.
The seller undertakes to provide Orimax Asset Management, with a comprehensively detailed inventory of the assets that are approved for sale. The relevant information such as runner or non-runner, natis registration certificate or to be sold without papers, working hours, odometer reading, known defects, etc. must be fully disclosed by the seller.
Fill in mandate online