3 - 5. Standard Terms of Trade - BROKERAGE GOODS
- 3. Brokerage Terms (what Owners promise Us)
The Owner promises Us as follows:
3.1. To make the Brokerage Goods available to Us for viewing, inspection and sale at all reasonable times at the Owners cost.
3.2. To disclose to Us any defect in the Brokerage Goods or in the Owners title to the Brokerage Goods.
3.3. To indemnify Us in respect of any claim that the Brokerage Goods have been mis-described.
3.4. To check any advertising literature which We produce and inform Us of any inaccuracy in them known to the Owner.
3.5. In the event of sale to sign all documents necessary to pass legal title in the Brokerage Goods to the Customer.
3.6. To disclose to Us if the Owner is selling the Brokerage Goods in the course of business so that the Brokerage Goods are sold plus Vat.
3.7. To insure the Brokerage Goods at all times to include slipping for survey, transportation and sea trials.
3.8. To be responsible for the cost of all cleaning, maintenance, berthing and storage, and securing of the Brokerage Goods until sold.
3.9. Where we have a sole agency not to attempt to sell the Brokerage Goods yourself (except as our agent) or through any other source directly or indirectly within 6 weeks of instructing Us.
3.10. At the expiry of 6 weeks from the date of instruction to give Us two weeks notice if you wish to withdraw the Brokerage Goods from sale.
3.11. To pay Us on negotiation of a sale a brokerage commission plus Vat at the following rates:
Sale Price of Goods Commission Rate
Up to £200.00 £20.00
£201.00 to £500.00 12%
£501.00 to £1000.00 10%
Over £1000.00 8% - 4. Brokerage Terms (What We promise Owners)
We promise Owners for whom We advertise Brokerage Goods for sale:
4.1. To use all reasonable endeavours to sell the Brokerage Goods.
4.2. To advertise the Brokerage Goods in accordance with information received from the Owner.
4.3. To arrange (at the Owners cost) for services for inspection and viewing.
4.4. In the event of a sale of the Brokerage Goods to hold any deposit or purchase funds in an account designated “Brokerage Account” and to distribute the net proceeds of sale within 7 days of clearance of final payment or, where applicable, on transfer of clear title.
4.5. To submit to the Owner all offers for the Goods regardless of whether this offer shall be at the asking price or at a level known to be unacceptable to the Owner. - 5. Buyer/Consumers Rights (When they purchase on Brokerage Terms)
5.1. The Customer must realise that on a sale of Brokerage Goods under Brokerage Terms a Customers implied statutory rights are limited and if in doubt the Customer should take legal advice before purchase.
5.2. The Customer acknowledges that We are acting solely for the Owner and that the Seller has no separate liability to the Customer.
5.3. The Buyer acknowledges that no employee or officer of the Owner has the right or authority to express any opinion as to fitness suitability of the Brokerage Goods and in all respects the Customer must rely on his own judgment/inspection under the principle “The Buyer Beware”.
5.4. Unless the Customer specifically negotiates for better terms with the Owner there is excluded in any Brokerage Sale all express or implied contractual rights as to suitability fitness for purpose and/or satisfactory quality of the Brokerage Goods together with all statutory rights under The Act or any Consumer legislation to the extent that the law allows.
5.5. The Customer acknowledges that the rights in respect of any claim against the Brokerage Goods will be against the Owner and not Us.
