PTY Auctions > Resource Central

PTY AUCTIONS - BIDDING AGREEMENT

PTY AUCTION PROCESS
USE OF THE SERVICE
REGISTRATION
AUCTION PROCESS
CONTRACT
LIABILITY AND INDEMNITIES
INDEMNITIES
PARTIES
DELIVERY OF DOCUMENTS
GOVERNING LAW AND JURISDICTION

Please read these terms and conditions carefully. If you register to bid using the Service you will be bound by this Bidding Agreement, as amended and varied from time to time.

PTY AUCTION PROCESS

1.1

PTY Auctions is not an auctioneer. PTY Auctions by this on line service enables you to convey bids to live auctions of real estate. (This service is referred to in this agreement as “the Service”).

1.2

Once you have registered for the Service and if you bid at any auction using the Service you are deemed to have agreed to be bound by:

(a)	this Bidding Agreement; and
(b)	the Terms of Use; and
(c)	the Auction Conditions; and
(d)	the contract for sale of the property if you are the successful bidder for that property (“Contract”);
(e)	the Letter of Authority to bid; and
(f)	any other document notified on this website as applying to the Service and the auction
	(“the Bidding Documents”).

1.3

The Bidding Documents may be varied from time to time.

1.4

The Bidding Documents contain significant legal rights and obligations and you are urged to familiarise yourself with them and read them each time before using the Service. We also recommend you obtain legal advice particularly in relation to the Contract relating to a property for which you intend to bid at an auction. For further information please contact our customer service team at support@ptyauctions.com.au.

^ Back to top

USE OF THE SERVICE

2.1

Your use of the Service is subject to the following conditions:

(a)	your compliance with the Bidding Documents;
(b)	all Information you have provided to us including registration details being true and correct;
(c)	your using the Service honestly and for the purpose for which it is intended.

2.2

PTY Auctions reserves the right to terminate your use of the Service at any time if you breach any of the conditions in clause 2.1.

^ Back to top

REGISTRATION

3.1

Before using the Service you must register using the registration process on this website.

3.2

You must not use a false or misleading name or give false or misleading Information but if you do so your obligation to purchase as the highest bidder shall not be abrogated. If your details have changed since you last used the Service, you must provide us with the updated details. We are not responsible for any loss or damage which you may suffer because you have not provided us with complete and accurate Information.

3.3

When you register for the Service, you must choose your user name and password. You must have a valid user name (or “login”) and password before you can bid using the Service. You are responsible for the security of your user name and password. You authorise us to assume that anyone using your user name and password is you or someone authorised by you. Unauthorised access and use of your details will, under no circumstances, negate your liability for any bids made using the Service or any obligation to purchase a property which may result from such use. You must notify us immediately if you become aware of any unauthorised use of your user name or password or of any other security breach.

3.4

PTY Auctions will use your personal data strictly in accordance with our Privacy Statement. We will not sell your personal information to other mailing lists.

3.5

PTY Auctions will close your account if you email a closure request to support@ptyauctions.com.au unless you are using the Service at the time or have used the Service to bid successfully for a property and have not yet completed the purchase of that property.

3.6

You must be able to form legally binding contracts to use the Service. This means that if you are under 18 years of age or otherwise legally prohibited from entering into binding contracts, you must not use the Service.

3.7

“Information” includes all information you provide to us:

(a)	during the registration;
(b)	in any subsequent authorities or documents whether electronic or hardcopy;
(c)	during the online auction bidding process.

3.8

We may deal with Information if we deem it necessary or appropriate, for example, if we believe Information may create any liability for us.

3.9

You must ensure that Information you provide:

(a)	is true, accurate and complete;
(b)	is not fraudulent or misleading;
(c)	does not infringe any third party’s copyright, patent, trade mark, trade secret or other proprietary rights or rights of publicity or privacy;
(d)	does not violate any law, statute, ordinance or regulation;
(e)	is not defamatory, libellous, unlawfully threatening or unlawfully harassing;
(f)	is not obscene or contains pornography;
(g)	does not contain any viruses, Trojan horses, worms, time bombs, cancelbots or other computer programming instructions that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal information.

3.10

You must not do anything involving the Service which:

(a)	may violate or cause us to violate any applicable law, statute, ordinance or regulation, or
(b)	is expressly prohibited by the Bidding Documents.

^ Back to top

AUCTION PROCESS

4.1

When you use the Service to bid online at an auction, your bids will be conveyed to the auctioneer by an employee of PTY Auctions as your authorised bidder (“Bidder”) who will be present at the auction. The bidding process will be subject at all times to the Bidding Documents and in particular the Auction Conditions.

4.2

Agency Agreement

If you intend to bid at an auction using the Service then before the commencement of the auction, the auctioneer will need to have received a signed and witnessed Letter of Authority not later than the commencement of the auction at which the property you intend to bid for is to be offered for sale.

4.3

The Letter of Authority should be competed, signed and posted to PTY Auctions in sufficient time for us to deliver it to the auctioneer before the auction. A faxed or electronic copy of the original documents will be acceptable.

4.4

On Site Bidder

(a)

The Bidder will be present at the auction to:

(i)	be registered as your authorised bidder on the Bidders Record of the auctioneer;
(ii)	be the recorded bidder of bid instructions conveyed by you through the Service to the Bidder;
(iii)	bid on your behalf under instruction from you by the on line Service or telephone if the Service fails;
(iv)	represent you at the auction for any other purpose if necessary and if expressly instructed by you to do so.

(b)

The Bidder is not authorised to:

(i)	bid on your behalf; or
(ii)	do anything else on your behalf unless expressly authorised to do so by you.

(c)

The bidding process will operate as follows:

(i)	each bid you wish to be made will be sent by you to the Bidder using the Service;
(ii)	on receipt of your instructions the Bidder will, subject to clause 4.4(c)(iv) convey your bid to the auctioneer by a physical bid;
(iii)	a bid will only be valid when it is actually made by the Bidder;
(iv)	the Bidder is not obliged to make a bid which is equal to or less than a bid already received by the auctioneer;
(v)	you will see in real time (or as close to that time as technology allows) when each of your bids is made, and other higher bids as they are made.

4.5

Power of Attorney

If you intend to bid for another party using a power of attorney then a copy of the power of attorney must be provided to the auctioneer not later than before the commencement of the auction at which the property you intend to bid for is to be offered for sale.

4.6

Proxy Bidding

If you choose to use the proxy bid feature you will allow the Service to convey higher bidding instructions in appropriate increments until the proxy bid is outbid. The proxy bid will always start at the bid increment above the starting bid or the current highest bid. You cannot increase the proxy bid when you are the current high bidder. You must wait until someone else makes a higher bid before you can place another standard bid or proxy bid.

4.7

Auction Closing

The auction closing procedure begins when the auctioneer announces the “first call” or any other appropriate term at the site auction. Upon this announcement the thirty-five second bid clock will appear in the Status column on your screen. The bid clock will countdown towards 0 seconds unless a further bid is submitted. If a bid is placed either on line or at the site of the auction, the auction status will return to “On line and Site Bids” until the auctioneer announces the “first call” again. If no bids are accepted and the bid clock goes to 0 then no further on line bids will be accepted unless a bid at the site auction is accepted and the auction status will return to “On line and Site Bids”.

^ Back to top

CONTRACT

If you are the successful bidder at the auction:

(a)	the auctioneer will complete the Contract by inserting the name of the purchaser in accordance with the Letter of Authority, the purchase price (being your successful bid price), deposit, and the name and details of your solicitor or conveyancer;
(b)	the auctioneer will sign the Contract on behalf of the purchaser and date the Contract in accordance with the implied authority of an auctioneer to do so; and
(c)	the deposit must be paid to the trust account of the selling agent nominated in the Contract within 48 hours of the completion of the auction (excluding weekends and public holidays) either by cheque or electronic bank transfer. This time limit is essential and the Contract can be terminated by the vendor and you will be rendered liable for damages if this condition is not met.

^ Back to top

LIABILITY AND INDEMNITIES

6.1

PTY Auctions is not responsible for bids which are not received, processed or accepted by the auctioneer for any reason.

6.2

PTY Auctions provides the Service without any warranty or condition with regard to the Service’s capacity express or implied except those warranties which are implied by law.

6.3

PTY Auctions will not be liable for any lost profits or any special, incidental or consequential damages (however arising, including negligence and recklessness) arising out of or in connection with the delivery of the Service.

6.4

PTY Auctions does not guarantee continuous, uninterrupted or secure access to the Service. Operation of the Service may be interfered with by numerous factors outside of our control.

6.5

You acknowledge that the Internet can be an unstable and, sometimes, insecure marketplace and that at times the Service may not be available or bids placed at online auctions may not be processed or may not be accepted for reasons beyond our control.

6.6

PTY Auctions does not guarantee that it will notice or be able to prevent any illegal or inappropriate use of the Service.

6.7

PTY Auctions cannot guarantee the preservation of any record, particularly after the provision of the Service to you has been suspended, cancelled or terminated and may delete Information at its sole discretion and without notice.

^ Back to top

INDEMNITIES

7.1

You waive, release, discharge and relinquish any and all claims that you now have or may have against PTY Auctions, the Bidder, the Auctioneer and the agent and their affiliates, subsidiaries, parents, shareholders, directors, officers, employees, agents and representatives (“Indemnified Parties”) which are connected with, arise out of, relate to or are incidental to the use of the Service.

7.2

You agree to indemnify and keep indemnified the Indemnified Parties harmless from and against any and all claims, loss, damage, tax, liability and/or expense that may be incurred by the Indemnified Parties arising out of or in connection with the Service (except as caused by the gross negligence or wilful misconduct of the Indemnified Parties) including the legal costs, fees and expenses of defending themselves against any claim by any or all of the parties to any transaction and/or by any other person and/or as a result of your negligent act or omission.

7.3

You further agree to indemnify and hold the Indemnified Parties harmless from any claim or demand, including reasonable legal fees, made by any third party due to or arising out of the violation of the Bidding Documents by you, or the infringement by you, or any other user of the Service using your user name and password, of any intellectual property or other right of any person or entity.

^ Back to top

PARTIES

You expressly acknowledge that PTY Auctions, the Bidder, the auctioneer, the agent and the other Indemnified Parties shall be entitled to enforce against you the rights, indemnifies and benefits conferred on them by the Bidding Documents.

^ Back to top

DELIVERY OF DOCUMENTS

9.1

Documents may be delivered to a party under this agreement by electronic communication.

9.2

Documents will be deemed to be delivered only when they have been actually received to the computer of the intended recipient and displayed on the screen of that computer.

^ Back to top

10.

GOVERNING LAW AND JURISDICTION

This agreement is governed by, takes effect and will be construed in accordance with the laws of New South Wales, and the parties irrevocably and unconditionally submit to the exclusive jurisdiction of the courts in New South Wales and courts entitled to hear appeals therefrom.

^ Back to top