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SAMRA Auction Terms and Conditions
SAMRA Auctions are controlled by the Southern African Marketing Research Association NPC (SAMRA) though the SAMRA Auction web page https://www.samra.co.za/auctions/, under jurisdiction of the Republic of South Africa.
Any bidder participating in SAMRA Auction agrees to be bound by and accepts the following Terms and Conditions of SAMRA Auction:
- A minimum bid is specified for each item on auction, and bidding starts at the value of the minimum bid.
- A reserve price is set for each item on auction. If the highest bid does not equal or exceed the reserve price for an item, the item will be deemed not sold.
- The ending date and time for the auction is specified on the SAMRA Auction web page.
- Bidders have to pre-register as users on the SAMRA website to bid.
- Any bidder who is not in good standing with SAMRA may be disqualified at SAMRA’s sole and unlimited discretion, at any time prior to or during the auction.
- If a bidder is a juristic person (e.g. company) and not a natural person, a letter of authority for the person to bid on behalf of the juristic person must be submitted to the SAMRA office by email as soon as a bid is submitted. The person executing the bid on behalf of the juristic person agrees to personally ensure payment for any successful bid.
- SAMRA reserves the right to exclude any person from the auction.
- Winning bids must be paid within 24 hours of the bid result.
- Bids must be submitted using the online bidding form available on the SAMRA Auction web page. All fields are required, and incomplete bids may be disregarded.
- Each item will be described on the SAMRA Auction web page.
- Where there is a tied highest bid, the first bidder based on the time stamp of the bid submission will win by default.
- All bids are binding and cannot be withdrawn once entered.
- Bids will be accepted in whole South African Rand amounts only.
- The highest bidder will be the buyer.
- SAMRA’s decision and declaration of the winning bidder will be final and binding upon all bidders.
- SAMRA reserves the right to refuse to honour any bid or to limit the amount of any bid, in its sole discretion.
- A bid made by an insolvent or irresponsible person, a person under the age of eighteen, or a bid which is not supported by the required satisfactory account history or otherwise, may be disregarded by SAMRA.
- Until the bidding deadline is reached any bid may be retracted or declined by SAMRA.
- SAMRA reserves the right to withdraw, prior to the close, any items from the auction.
- SAMRA reserves the right to rescind the sale in the event of non-payment, misrepresentation, clerical error or omission in exercising bids and minimum bid and reserve price designation, or for any other reason, and the bidder will remain liable to SAMRA for damages which will include any expenses occasioned to the item/s by virtue of the bidder’s breach of the sale agreement.
- In the case of non-payment or non-compliance of the buyer to these terms and conditions and the buyer’s obligations under this agreement, the buyer will bear any legal costs that SAMRA may incur, together with collection costs.
- If the SAMRA Auction web page is down during the bidding period, for whatever reason, SAMRA may at its sole discretion extend the bidding period of the auction, advertising such extension on the SAMRA Auction web page as soon as it is up and running.
- SAMRA charges VAT at the prescribed South African VAT rate. Any bid does not include VAT, which will be added to the bidding price for which a VAT invoice will be issued.
- All sales must be paid via electronic funds transfer and the purchase price is payable immediately to SAMRA on notification by SAMRA that the bidder’s bid has been accepted. Any costs associated with the electronic funds transfer must be paid by the buyer.
- The electronic funds transfer must be referenced with the tax invoice number issued by SAMRA.
- The exact amount must be paid, and no refunds are offered by SAMRA.
- Notification of acceptance of a bid will be by email.
- Should the buyer fail to pay SAMRA within 7 days from date of notification SAMRA will add monthly compound interest at the current bank prime rate plus 2% to the amount outstanding.
- SAMRA may amend these terms and conditions from time to time by posting the amended terms on the SAMRA Auction web page, effective automatically 30 days after being posted.
- Variation, amendment, novation or addition to these terms and conditions will not renounce any of SAMRA’s rights in terms of the terms and conditions, unless reduced to writing and signed by SAMRA.
- Should SAMRA relax the terms and conditions in a specific situation, this does not mean SAMRA waives any of its rights in the terms and conditions.
- If any of the terms and conditions are unlawful or becomes unlawful, the terms and conditions will be deemed amended in such a way as is necessary to make it lawful. If this is not possible, the unlawful terms and conditions will be separated from the rest of the terms and conditions as if not included.
- By submitting a bid, the bidder indicates that he/she/it considers that he/she/it is bound by these terms and conditions, which form the entire understanding and agreement between the parties with respect to SAMRA Auction.
SAMRA stands for the Southern African Marketing Research Association NPC, the professional body for the insights industry in Southern Africa. For information about SAMRA visit https://www.samra.co.za/about/ or contact us.