This Agreement is between CanAm Auctions (“CanAm”) and the “Buyer” also the undersigned, which shall be contacted by the following means:
Entry of the vehicle as identified in Schedule A “Seller’s Vehicle Information and Reserve Price Agreement” (the “Vehicle”) will not be confirmed until entry fee is paid. Unpaid entries will be eligible for cancellation without notice at the discretion of CanAm.
Schedule A shall form part of this Agreement for any Seller. Seller represents and warrants to CanAm and to any Buyer that the information provided on Schedule A is true and accurate.
CanAm shall perform auction services for the Seller and Buyer at the Auction on the Auction Date. CanAm shall accept bids on the Vehicle and shall declare a sale to a Buyer when the highest bid is received, subject to the reserve price. The highest bid which exceeds the reserve price shall be the Sale Price and the bidder of the Sale Price shall be the Buyer of the Vehicle. CanAm may accept or reject any bid at its sole discretion. CanAm’s declaration of a sale is final. Buyer and Seller agree to be bound by CanAm’s declaration of a sale.
Seller agrees to sell the Vehicle in the above noted Auction and in accordance with the terms of this Agreement to the Buyer, if any, of the Vehicle.
Buyer agrees that no bids may be retracted during the Auction for any reason, regardless of how the bid is made.
Buyer is responsible for any applicable taxes, fees, duties, or any other applicable charge (“Taxes”). Taxes are in addition to the Sale Price.
Sale Price does not include the above noted Commission due to CanAm
Payment by the Buyer of the Sale Price plus the Commission and plus Taxes are due immediately to CanAm. The Vehicle shall not be released to the Buyer until full payment is made to CanAm
Sale position / Lot number is based on a first come, first serve basis. However, CanAm reserves the right to alter the sale position/ Lot number of the Vehicle at its sole discretion.
CanAm may continue to market the Vehicle for 30 days following the Auction Date should it not sell at the Auction.
CanAm is entitled to its Commission on any vehicle sold up to 30 days after the Auction Date, regardless of whether CanAm facilitated the sale.
If the Vehicle is not available for auction on the Auction Date or available for sale any time in the 30 days following the Auction Date, CanAm shall be entitled to its Commission on the reserve price or, if there is no reserve price, on fair market value of the Vehicle
Seller will receive payment within 10 banking days after payment from Buyer to CanAm. Seller agrees that any amounts owed to CanAm arising from this Agreement may be deducted from any proceeds of the sale due to the Seller
Should either the Buyer or Seller default on any part of the transaction, CanAm shall remain entitled to any and all fees and commissions by the defaulting party.
Buyer agrees that all vehicles are sold “as-is, where-is”. Buyer and Seller agree that any representations made of the Vehicle by CanAm are the responsibility of the Seller. Buyer agrees that motor vehicles sold at this auction are intended as collector’s items and may not be suitable to provide transportation and that the age, nature, and condition of the Vehicle make it likely that major components may have been modified, replaced, restored or repaired in such a manner that it is impossible for CanAm to verify any representations of the Vehicle. Buyer agrees that it is solely responsible for verifying any such representations upon which it relies in a decision to bid. Examples of representations that are subject to this paragraph include, but are not limited to: value, condition, pedigree, authenticity, mileage, history, safety, performance, roadworthiness, suitability for use, pictures, videos, or information from any source other than this Auction.
Seller covenants that Seller is the true and lawful owner, or legally appointed agent of the Vehicle, that the Vehicle is free from all liens and encumbrances, that he/she has good right and full power to sell and transfer title to the Buyer.
Buyer and Seller agree that any sale resulting from this Agreement is a private sale between the Buyer and Seller. Buyer and Seller agree that CanAm is not a party to the sale and that CanAm only provides marketing, auction, payment, and other services facilitating the private sale
If the Vehicle is sold at the Auction, the Buyer shall remove the Vehicle from the auction site at its sole expense by 5:00pm local time seven days after the Auction Date. If the Vehicle is not sold at the auction, the Seller shall remove the Vehicle from the auction site at its sole expense by 5:00pm local time seven days after the Auction Date. If the Vehicle is not removed in accordance with this paragraph, CanAm may remove and store the Vehicle at the expense of the party (Buyer or Seller) responsible for its removal under this paragraph.
CanAm shall be entitled to reasonable Attorney’s fees on a Solicitor-Client basis incurred in the enforcement of any term of this Agreement.
Buyer and Seller hereby release and hold harmless CanAm from any liability arising from this Agreement including but not limited to: failure to complete the sale by the Buyer or the Seller; breach of any term of this Agreement by the Buyer or the Seller; any misrepresentation of the Vehicle; mechanical failure, loss, theft, or damage to the Vehicle; title issues or delays; transportation issues; registration or compliance problems; any liability arising from CanAm removing or storing the Vehicle; accidents or injuries involving the Vehicle; and any direct, indirect, incidental, or consequential damages.
Buyer and Seller agree that, despite any other term of this Agreement, CanAm’s liability to the undersigned shall not exceed any Commission due to CanAm by the undersigned under this Agreement
Buyer and Seller agree that any dispute arising from this Agreement shall be interpreted in accordance with the laws of the Province of Ontario, Canada and that any dispute shall be heard in the jurisdiction of Municipality of Chatham-Kent in the Province of Ontario, Canada.
The undersigned agree that this is the entire agreement between them with respect to the Vehicle and that any prior agreements, understandings, guarantees or representations whether written or verbal, explicit or implied are not valid and not enforceable.
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