Terms & Conditions
Terms for Buyers
The following terms are applicable for all sales made at the Auction. They are subject to changes, which may be posted or announced during the Sale. Bidders must read and understand these terms as they set out the terms on which properties are sold at the Auction.
The bidders and buyers are deemed to agree with and be bound by these terms when bidding at the Auction.
To the extent applicable, the sections under Guides for Bidders are deemed to be inserted into and be an inseparable part of these Terms for Buyers.
GENERAL
Seller's Agent
Unless otherwise stated, we will act as the seller's agent. The concluded sales contract is made between the seller and the buyer through Sidharta Auctioneer.
Buyer's Premium
A premium to the buyer on the final bid price of each lot will be charged at 22% of the Hammer Price ("Buyer's Premium").
This includes 10% VAT/ goods and services taxes.
Pre-Auction Viewing
When bidding, we assume that interested buyers have already read the condition reports and/or examined the lots and are aware of the current condition of the lot.
Property Sold As Is
All property is sold without any warranty or representation. We are not liable for any errors or omissions in the catalog. The available condition reports are mere statements of opinion and should not be relied on as statements of definitive facts. Descriptions of property are not warranties. All property is sold with all faults and imperfections and errors of description.
ON BIDDING
Absentee Bids
Absentee bids are written instructions from prospective buyers directing us to bid on their behalf up to a maximum amount specified for each lot.
Telephone Bids
Please confirm arrangement for this service with us at least 1 (one) day, 24 (twenty four) hours, before the Auction. Prospective buyers are encouraged to inform the maximum bid, in the event they are unable to reach us by telephone.
Early Bird Written Bids ("Early Bird") and Discount
Sidharta Auctioneer is proud to introduce Early Bird discounts on Buyer's Premium (as defined in the Terms for Buyers) to prospective buyers who submit Written Bids with Top Limits that are at least equal to the lowest estimate price at the latest one day (24 hours) before the Auction. Successful Early Bird bidders will be entitled to enjoy a discount of 2% less of the Buyer's Premium (hence 20% after the discount) if the bid is submitted 24 hours prior to the Auction day.
Only lots that have been bid with qualified Top Limits specified in writing in Written Bids form will be discounted. No discounts are offered for lots with unqualified or unspecified bids.
Successful Bids
The fall of the auctioneer's hammer indicates the final bid, upon which the sales contract between the seller and the buyer is deemed to be concluded.
Transfer of Risk and Title
Subject to the auctioneer's discretion, the highest bid accepted by the auctioneer will be the buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer. Risk and responsibility for the lot (but not its title) are transferred to the buyer at the expiration of seven calendar days from the date of the sale or on collection by the buyer if earlier. The buyer will acquire title to the lot when all amounts due to us are received in good cleared funds.
Bidding as Principal
A bidder accepts personal liability to pay the purchase price, including the buyer's premium and any taxes and/or all other charges/fees that may be applicable. In the event a bidder is acting on behalf of an identified third party principal, we will look to the principal for payment.
PAYMENT AND HANDLING
Payment
Full payment must be in good funds within 7 (seven) calendar days as of the Sale. Payment is preferably made by telegraphic transfer (against satisfactory written evidence) directly to:
PT Balai Lelang Horizon
Bank BCA (swift code: CENAIDJA), Panglima Polim Branch, account # 566 - 030 - 6864
or
PT Balai Lelang Horizon
CIMB NIAGA (swift code: BNIAIDJA), Kemang Branch, account # 253.010.016.8000
Please include your name, purchased lot number, and invoice number in your bank instruction. Purchases will be released upon our confirmation that funds have been fully received in the account mentioned above. Payments with company cheques are accepted, although purchases will not be released until such cheques have been cleared. Payments with credit cards are acceptable although a certain surcharge will be added.
Deliveries and Export/Import Permits
Buyers will be responsible to pick up purchases and to arrange for deliveries with our appointed shipping agencies. Properties to be exported may be subject to any applicable export regulations and import restrictions applicable in the receiver's jurisdictions. Buyers are solely responsible to obtain any required export or import licenses. Failure to obtain these licenses does not cancel the sale or justify any delay in fulfilling the sales payment. Please bear in mind that there will be a fee incurred.
Storage and Insurance
All purchases will initially be held for collection at the Auction room at no charge and covered by insurance for a maximum of seven days as of the date of the Auction, after which the lot will be entirely at the buyer's risk. If purchases are not collected within seven days after the Sale, we shall arrange storage in our warehouse at the buyer's expense.
NON-LIABILITIES
Absentee, Telephone and Written Bids
We do not accept liabilities for failing to execute a written bid or for errors and omissions in connection with it nor do we accept liabilities for failing to contact prospective buyers by telephone or for errors and omissions in connection with telephone bidding.
Operation of Facilities
We do not accept liabilities for errors that may occur in the operation of the currency converter or the video or digital screen (or the quality of the image).
Description or Defects
We will provide, with reasonable effort and good professional manner, a description and condition report concerning each lot. However we do not accept liabilities for any mistaken statements of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot.
REMEDIES
Of Non-Payment
If the buyer fails to make payment in full in good cleared funds within the time required, we reserve the right to choose to take one or more of the following actions (in addition to asserting any other rights or remedies available to us by law):
a. cancel the sale;
b. re-sell the property publicly or privately on the terms we think fit;
c. hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and other costs;
d. reject at any future auction any bid made by or on behalf of the defaulting buyer or to obtain deposits before accepting any bids;
e. take such other action as we deem necessary.
Of Forgeries
We will refund to the buyer the purchase price of the lot in the event of proven forgery, with the condition that claim must be submitted by the buyer within 1(one) year as of the Auction date, accompanied with satisfactory evidence in the form of a written opinion of at least 3 (three) independent experts with knowledge on the related property, confirming that the lot is a forgery. We reserve the right to seek for further expert opinion. There will be no refund if there is a conflict of opinion among the related experts. This guarantee applies only to the buyer of the lot and is not assignable to any third party.
MISCELLANEOUS
Copyright
The copyright in all images, illustrations and written material relating to a lot is and shall remain at all times our property and shall not be used by the buyer nor anyone else without our prior written consent.
Severability
If any part of these terms is found by the court to be invalid, illegal or unenforceable, that part shall be excluded and the rest of the terms shall continue to be valid.
Waiver of Clause 1266 of Civil Code
The applicability of Clause 1266 of the Indonesian Civil Code is hereby waived, to the extent that a court order is required to terminate the sales agreement between the related parties.
Laws and Jurisdictions
These terms are governed under Indonesian Law.
Governing Language
To the extent a translation of these terms are provided, the English language shall be the governing language.
Shipping
Buyers will be responsible to pick up purchases and to arrange for deliveries with our appointed shipping agencies. Properties to be exported may be subject to any applicable export regulations and import restrictions applicable in the receiver's jurisdictions. Buyers are solely responsible to obtain any required export or import licenses. Failure to obtain these license does not cancel the sale or justify any delay in fulfilling the sales payment.
