1947 FERGUSON TE-20 P3 3cylinder diesel TRACTOR Reg No: 470 XUA Serial No: TE2223 This tractor is an

1. DEFINITIONS

1.1. In these conditions the following terms have the following meanings, unless

inconsistent with the context.’

‘Auctioneers’ means Cheffins of Clifton House, 1-2 Clifton Road, Cambridge,

CB1 7EA and Clarke & Simpson of Well Close Square, Framlingham, Suffolk,

IP13 9DU. ‘Commission’ means the commission charged on the sale of Lots in

accordance with Clause 2 below.

‘Conditions’ means the standard terms and conditions of business set out in this

document.

‘Lots’ means all machinery and all other items sold or intended to be sold in

accordance with these Conditions.

‘Purchaser’ means a person, firm or company who purchases lots. ‘Vendor‘

means any person, firm or company who puts forward lots intended to be sold

at the Sale.

‘Sale Day’ means the day fixed by the Auctioneers for an auction and where the

context so requires means the day fixed for the auction in which a particular lot

is entered. ‘Reserve Price’ means the minimum price fixed by either the

Auctioneers or the Vendor at which Lots are to be sold at the Sale.

1.2. Except where the context otherwise requires words denoting the singular

include the plural and vice versa; words denoting one gender include all genders;

words denoting persons include corporations and vice versa.

2. RESERVE PRICE & BIDDING

2.1. The auctioneers and/or the vendor reserve the right to fix a Reserve Price for any

lot and withdraw that lot in the event that the highest bid price does not meet

the reserve price.

2.2. The vendor may bid for any Lot either personally or through the auctioneers or

through any other person and may withdraw any Lot any time before the sale

of such a Lot.

2.3. The Auctioneers may without giving any reason refuse to accept the bidding of

any person. In the case of a dispute as to any bid, the Auctioneers may forthwith

determine the dispute or put up the Lot again at the last undisputed bid or

withdraw the Lot.

2.4. No person may advance less at a bid than a sum to be named from time to time

by The Auctioneers nor be allowed to retract a bid.

2.5. The highest bidder for each Lot shall be the Purchaser of that Lot.

3. AUCTIONEERS AS AGENT FOR VENDOR

3.1. The Auctioneers sell as Agent for the Vendor and as such are not responsible for

any default by the Vendor or Purchaser.

3.2. In the event that a Purchaser fails to pay the purchase price for the Lot in

accordance with these Conditions and the Auctioneers have previously advanced

to the Vendor of such Lot an amount representing such purchase price the

Vendor shall forthwith at the request of the Auctioneers assign all and any of his

rights against the Purchaser in respect of the unpaid purchase price to the

Auctioneers and shall execute such documents as may be required by the

Auctioneers to give effect to such an assignment and further, shall give

reasonable co-operation to the Auctioneers in any action, claim or proceeding

brought or threatened by the Auctioneers against the Purchaser.

4. RISK

4.1. All Lots remain at the Vendor’s risk until sold and following such sale shall be at

the Purchaser’s risk.

4.2. The Purchaser is on risk once the hammer falls and is strongly advised to effect

insurance at once. Upon the fall of the hammer, the Purchaser shall assume all

risks in and relating to such lots. The Purchaser is advised to effect in respect of

all such risks arising thereafter any insurance it may consider necessary. The duty

of the Auctioneers and/or the vendor to deliver lots shall be deemed performed

upon the fall of the hammer even if a lot is subsequently and/or part thereof has

been lost.

5. CONFIRMATION OF OWNERSHIP

5.1. The vendor warrants to the Auctioneers and to the Purchaser:-

5.2. That he is the true owner of the Lot or is properly authorised to sell the Lot by

the true owner.

5.3. Is able to transfer a good and marketable title to the lot free from any third party

claims liens and encumbrances and that all entries on the entry form are correct.

5.4. That no Lot is subject to any hire purchase, lease, contract hire agreement or any

other finance agreement or contract.

5.5. That the auctioneers have been notified in writing if any of the items on this

form, or any continuation form, have been recorded by any insurance company

as a write-off or having been subject to a major insurance claim.

6. REMOVAL OF LOTS FROM THE SALE

6.1. All lots whether sold or unsold may not be removed from the sale site without

a pass for the removal of Lots. Passes can be obtained from the Auctioneers’

offices. All Lots must be checked out by the security.

6.2. All lots purchased must be cleared from the sale site on the day of sale unless

otherwise stated in the catalogue.

7. EXCLUSION OF LIABILITY

7.1. The auctioneers shall not be liable for any expense, loss, claim or proceedings

in any respect of any loss or damage whatsoever, to any property real or

personal (including all lots) whether incurred before, during or after the sale.

7.2. The Auctioneers shall not be liable for any expense, loss, claim or proceedings

in any respect of personal injury to or death of any persons arising out of or in

the course of or caused by the Sale, except to the extent that the same is due

to the negligence of the Auctioneers, their servants or agents.

8. DETAILS OF PURCHASERS AND PAYMENT

8.1. All purchasers are required to Register for a bidding number before the auction

at the Auctioneers’ office.

8.2. All lots must be paid for on the day of the sale by the Purchaser.

8.3. Any interest earned on client’s monies will be retained by the auctioneers.

9. INSPECTION OF GOODS

9.1. All lots are sold with all faults and errors of description Purchasers should satisfy

themselves prior to sale of the Lot as to the condition of each Lot and should

exercise and rely on their own judgement as to whether the Lot accords with its

description. Neither the Auctioneers, their servants or agents are responsible for

errors of description or for the genuineness or authenticity of any Lot; unless

otherwise stated no warranty is given by the Auctioneers, their servants or

agents or by any Vendor to any Purchaser in respect of any Lot and any express

or implied conditions or warranties are excluded to the fullest extent permitted

by law.

9.2. The Auctioneers may at their discretion or upon the instruction of the Vendor

alter or withdraw all or any lots referred to in the auction catalogue up to the

moment at which the hammer falls in relation to such lot(s).

10. AUCTIONEERS’ RIGHT TO ANNUL SALES

10.1. In the event of any dispute or refusal to pay or of non-payment on the part

of the Purchaser, the Auctioneers may, entirely at their discretion, annul and

cancel the sale of such lot or lots.

11. RESERVATION OF TITLE

11.1. If the Auctioneers allow the Purchaser to remove the Lot from the sale site

before the Purchaser has made full payment for the Lot then title to the Lot

shall remain vested in the Vendor.

11.2. If the Auctioneers pay the Vendor the price of the Lot before the Purchaser

has paid the price to the Auctioneers, title to the Lot shall pass from Vendor

to the Auctioneers and shall remain with the Auctioneers until full payment

has been made by the Purchaser to the Auctioneers, when title shall pass to

the Purchaser.

11.3. Notwithstanding that the title has not passed to the Purchaser all risk of

damage to the Lot shall pass to the Purchaser immediately upon sale (the fall

of the hammer).

11.4. The Purchaser shall until payment has been made in full keep the Lot in good

marketable condition and readily identified and shall indemnify the Vendor or

the Auctioneers as the case may be for any damage.

11.5. In the event of any sale by the Purchaser of a Lot before full payment has

been made the Purchaser shall hold the proceeds of such sale on trust for the

Vendor or the Auctioneer (as the case may be) and shall pay such proceeds

into a separate identifiable bank account.

11.6. At any time before the title to the Lot has passed to the Purchaser, the

Vendors or the Auctioneers (as the case may be) including the Auctioneers

acting as agents for the Vendor shall have the right to enter upon the

Purchasers property for the purpose of recovering the Lot.

12. COMPLIANCE WITH ROAD TRAFFIC ACTS

12.1. The Purchaser of any vehicle or trailer is responsible for complying with all

legal requirements as to the construction and the use of such vehicle or trailer

and for obtaining all certificates, permits or other authorisations necessary

before such vehicle or trailer can be used on the road.

13. HEALTH AND SAFETY AT WORK ACT 1974 AND ALL OTHER ACTS AND

REGULATIONS APPLICABLE TO FARM SAFETY

13.1. The Purchaser of any lot is responsible for complying with all legal

requirements as to the safe use of lots purchased at the Sale and shall ensure

compliance with all relevant legislation relating to the safe use of such lots.

14. TRADES DESCRIPTIONS ACT 1968

14.1. The vendor is reminded that under the terms of the Trades Descriptions Act

1968 the Vendor of any Lot to which a false description is applied may be

guilty of a criminal offence punishable by fine or imprisonment.

15. GOVERNING LAW AND JURISDICTION

15.1. For the avoidance of doubt all contracts entered into between the Purchaser

and Vendor and between either of them and the Auctioneers on the basis of

these standard terms and conditions of business are governed by the laws of

England and Wales and the parties hereby submit to the non-exclusive

jurisdiction of the English Courts.

CHEFFINS

CLARKE & SIMPSON