Race Retro Classic & Competition Car Sale 2020 21st - 23rd February 2020

www.silverstoneauctions.com 171 Commission due to SAL under Clause 10. 17. Payment 17.1 Once a lot is sold, the Purchase Price shall become immediately payable to SAL. 17.2 Full payment for all Lots must be made to SAL by 5:00pm the next Working Day. Payment can only be accepted in GBP. For security reasons, payments by Debit or Credit card (VISA/Mastercard) will only be accepted where the cardholder is present to a maximum of £20,000 per buyer.   17.3 No Lot may be collected until the Purchase Price has been received by SAL and payments by a Buyer to SAL may be applied by SAL towards any such sums due from that Buyer to SAL on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied. 17.4 Title to the Lot will pass to the Buyer only when the Purchase Price in cleared funds has been received by SAL. 17.5 Immediately a Lot is sold the risk shall pass to the Buyer notwithstanding that possession will not be given and title will not pass to the Buyer before payment of the Purchase Price. 17.6 The Buyer shall, at his own expense, remove the Lot purchased but not before payment in full to SAL of the Purchase Price whether in respect of this or any other Lot. 17.7 Cash payments will only be accepted up to a maximum of £5,000 and no more than £5,000 will be accepted from any one individual in a 90 day period. 18. Responsibility for Purchased Lots 18.1 The Buyer will be responsible for loss or damage to a Lot they have purchased from the fall of the hammer. Neither SAL nor its employees or agents shall be responsible for any loss or damage unless caused by the negligence of SAL, its employees or agents in the ordinary course of their duties to SAL while the Lot is in SAL’s custody or under its control. 18.2 The Buyer shall be responsible for all removals, insurance, storage and other charges on any Lot from the fall of the hammer (in accordance with Clause 11). 18.3 DVLA will be notified of the change of keeper within 5 working days following receipt of payment, using the details from invoice, unless otherwise stated. 18.4 Automobilia, watches & lifestyle Lots that have not been paid and collected by midday on the first working day following the sale will be sent to the buyer at the buyer’s expense. 19. Non-payment or Failure to Collect 19.1 If the Purchase Price is not paid in full, SAL as the agent of the Seller, shall in its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following remedies:- 19.1.1 to remove, store (either at SAL’s premises or elsewhere) and insure the Lot at the expense of the Buyer; 19.1.2 to charge interest at a daily rate equal to 4% pa over Barclays Bank’s Base Rate on so much of the total amount due as remains unpaid after the date of and time referred to in clause 17.2; 19.1.3 to retain that or any Lot sold to the same Buyer at the same or any other auction of SAL and to release it only after payment of the total amount due; 19.1.4 to apply any money due or to become due to the defaulting Buyer in or towards settlement of the total amount due and to exercise a charge or lien on any property of the Buyer which is in SAL’s possession for any purpose. 19.1.5 take such steps as SAL shall at its absolute discretion consider necessary to collect the monies due from the Buyer, and to agree terms for the payment of the Purchase Price; 19.1.6 to rescind the sale and refund any monies to the Buyer, or to rescind the sale to the Buyer and to purchase the Lot itself. If it does so, property in the Lot shall pass to SAL on its election and SAL shall remit the Purchase Price to the Seller within 14 Working Days of its election less the Seller’s Commission, Expenses and sums due to SAL which would have been payable had the contract not been rescinded; 19.1.7 to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this clause 19, and the Seller hereby authorises SAL to take any of the courses referred to in this clause, including the issue and prosecution of proceedings on the Seller’s behalf, and to settle claims and/or proceedings made by or against the Buyer on such terms as the Seller shall instruct, or in the absence of instructions on such terms as SAL shall at its absolute discretion think fit. The Buyer shall be liable for all the costs incurred in any proceedings, negotiations or ADR (Alternative Dispute Resolution) including any shortfall in cost between those expended by SAL or the Seller and those awarded by any Court or Tribunal. 19.2 If the Buyer fails to make payment within 14 days after the date and time referred to in clause 17.2, SAL shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to re-sell the Lot or cause it to be resold by public auction or private sale, and, if this results in a lower price being obtained, the defaulting Buyer shall then pay to SAL any deficiency, together with re-sale costs and any costs incurred in connection with the Buyer’s failure to make payment and any surplus shall belong to the Seller. 19.3 If the Lot is not taken away on the date and time referred to in clause 17.2, whether or not the Purchase Price has been paid, SAL shall remove, store (either at SAL’s premises or elsewhere) and insure the Lot at the expense of the Buyer and only release the Lot after payment of the total amount due. 20. Liability of SAL and the Seller 20.1 Buyers are solely responsible for ensuring that Motor Vehicles are safe for use, roadworthy (if a road going car) and comply with all relevant laws and regulations in force in all relevant jurisdictions and for ensuring that any necessary test certificates are in force It is the responsibility of the Buyer to carry out such inspection as he thinks necessary. 20.2 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation made to them by SAL, its employees or agents. 21. Governing Law Any transactions to which the Terms apply shall be governed by English Law and the Courts of England shall have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Terms apply. 22. Notices 22.1 Any shall be deemed to have been received:-  22.1.1 if hand-delivered, at the time of delivery; 22.1.2 if sent by mail, two days after the date of posting. 22.2 In proving service by delivery:- 22.2.1 by hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee; 22.2.2 by post, it shall be necessary only to prove that the notice was contained in a pre-paid envelope which was duly addressed and posted first class. 23. Data Protection 23.1 All information provided to SAL will be treated confidentially and shall not be passed to third parties, except where necessary to complete a sale transaction. 23.2 SAL reserves the right to pass on information when required by legislation, government authorities or the courts.