Sale of Assets by Sealed Bid Tender Witham Specialist Vehicles Ltd (“WSV”)
1. DEFINITIONS
In these Terms and Conditions:
- “WSV” means Witham Specialist Vehicles Ltd, acting as Sales and Marketing Agent.
- “Seller” means the asset-owning authority.
- “Asset” means the vessel(s), vehicle(s), aircraft or equipment offered for sale.
- “Tender” means a binding written offer to purchase the Asset.
- “Tenderer” / “Bidder” means any person or entity submitting a Tender.
- “Business Day” means Monday to Friday excluding UK public holidays.
- “Buyer” means the Tenderer whose Tender is accepted and who enters into a binding contract to purchase the Asset.
2. SALE BY TENDER - GENERAL
- 2.1 All Assets are offered for sale by sealed bid tender.
- 2.2 Submission of a Tender constitutes unconditional acceptance of these Terms and Conditions.
- 2.3 All Tenders are irrevocable, binding and incapable of amendment or withdrawal once submitted.
- 2.4 The highest or any Tender will not necessarily be accepted.
3. NO OBLIGATION TO SELL / RIGHT TO WITHDRAW
- 3.1 WSV and/or the Seller reserve the absolute right to:
- Withdraw any Asset from the tender process at any time, without notice or reason
- Reject any or all Tenders
- Accept a Tender at their sole discretion
- Cancel or amend the tender process
- 3.2 No liability shall arise against WSV or the Seller in respect of such actions.
4. TENDER SUBMISSION
- 4.1 Tenders must be:
- Submitted electronically
- Received by the stated deadline
- Submitted in accordance with the published tender instructions
- 4.2 Late Tenders will not be considered.
5. INFORMATION DISCLAIMER & RELIANCE
- 5.1 All information, descriptions, statements, photographs, specifications, survey reports, certificates, measurements, drawings and particulars provided in any listing, catalogue, brochure, website, email, tender document or otherwise (“Information”) are supplied in good faith for guidance purposes only.
- 5.2 Neither Witham Specialist Vehicles Ltd (“WSV”) nor the Seller makes or gives any representation, warranty or guarantee as to the accuracy, completeness, correctness or suitability of the Information.
- 5.3 WSV and the Seller shall not be liable for any error, omission, misstatement, ambiguity or inaccuracy in the Information, whether arising from negligence or otherwise.
- 5.4 Tenderers must not rely on any Information provided and must satisfy themselves by inspection, survey and independent investigation as to the condition, description, compliance, dimensions, performance and suitability of the Asset prior to submitting a Tender.
- 5.5 Submission of a Tender shall constitute conclusive acknowledgement by the Tenderer that:
- they have not relied upon any Information provided by WSV or the Seller; and
- they accept the Asset strictly on an “AS IS, WHERE IS” basis.
- 5.6 No claim shall be brought against WSV or the Seller for misrepresentation, negligent misstatement or otherwise in respect of any Information provided.
6. AS IS, WHERE IS - NO WARRANTIES
- 6.1 All Assets are sold “AS IS, WHERE IS”.
- 6.2 No warranty, representation or guarantee is given or implied as to:
- Condition
- Seaworthiness
- Fitness for purpose
- Compliance with any regulation or code
- Description accuracy
- 6.3 Any descriptions, photographs, surveys, reports or statements are provided for guidance only and shall not form part of any contract.
7. INSPECTION & DUE DILIGENCE
- 7.1 Tenderers are responsible for conducting their own inspections, surveys and due diligence.
- 7.2 Viewing is strictly by appointment and is restricted.
- 7.3 Failure to inspect shall not invalidate a Tender.
8. PAYMENT TERMS
- 8.1 Upon notification of a successful Tender, the Buyer shall pay:
- 100% of the Tender Price
- Buyer's Premium
- Plus any applicable VAT
- 8.2 Full cleared funds must be received within three (3) Business Days of invoice date.
- 8.3 Failure to pay within the required period shall result in:
- Potential legal action to recover losses
- Late Payment charges
- If any sum payable by the Buyer is not received in full cleared funds by the due date, WSV shall be entitled (without prejudice to any other rights or remedies) to charge interest on the overdue amount.
- Interest shall accrue daily on the outstanding balance at a rate of 8% per annum above the Bank of England base rate, from the due date until the date of received payment, whether before or after judgment.
- The Buyer shall be liable for all reasonable costs and expenses incurred by WSV in recovering overdue sums, including (without limitation) legal costs, administrative charges, bank charges and debt recovery fees.
- WSV reserving the right to offer the Asset to another bidder
- 8.4 The Buyer acknowledges and agrees that non-payment or late payment may result in the Buyer being:
- Excluded from participation in future auctions, tenders, sealed bids or direct sales.
- Reported to the relevant government asset-owning authority, which may result in exclusion from future government disposals, tenders or direct sales.
- 8.5 Such exclusion may be applied for a period determined at the sole discretion of WSV and/or the Seller, and no liability shall arise for any loss or damage suffered by the Buyer as a result of such exclusion.
- 8.6 The Buyer waives any claim against WSV or the Seller arising from or in connection with any exclusion or restriction imposed under this clause.
9. COLLECTION & REMOVAL
- 9.1 The Buyer shall remove the Asset within 7 business days of the date of the invoice.
- At their own cost
- Within the timescale specified by WSV
- 9.2 All lifting, transport, manning, towage and permits are the sole responsibility of the Buyer.
The Buyer shall provide WSV no later than five (5) Business Days prior to collection with full details of:
- The individual(s) attending site;
- The company collecting on the Buyer's behalf (if applicable);
- Photographic identification details as reasonably required.
No person shall be permitted access to site without prior written approval and a confirmed collection appointment. Attendance without an approved appointment may result in refusal of access without liability to WSV or the Seller.
WSV and/or the Seller reserve the right to refuse or revoke access at any time where security, operational or safety requirements so dictate.
Failure to attend a confirmed collection appointment, or failure to provide the required information within the stated timeframe, shall constitute a delay in collection for the purposes of storage charges.
WSV and the Seller accept no responsibility or liability for any costs, delays or losses incurred by the Buyer arising from refusal of site access or failure to comply with security requirements.
- 9.3 Failure to remove the Asset may result in storage charges or contract termination.
10. Late Collection and Storage Charges
- 10.1 Following completion of the sale and receipt of full cleared funds, the Buyer shall collect and remove the Asset within the timescale specified by WSV
- 10.2 If the Buyer fails to collect and remove the Asset within the required timeframe, storage charges shall accrue automatically without notice at a rate of £250 per day plus VAT, commencing on the first day following the agreed collection deadline.
- 10.3 Storage charges shall continue to accrue until the Asset is removed from site and shall be payable in full cleared funds prior to release of the Asset.
- 10.4 The Asset shall not be released to the Buyer under any circumstances until all outstanding storage charges, interest and associated costs have been paid in full.
- 10.5 WSV and/or the Seller shall have a lien over the Asset in respect of all unpaid storage charges and related sums.
- 10.6 In the event that accrued storage charges equal or exceed the purchase price of the Asset, WSV and/or the Seller shall be entitled, without further notice:
- to retain ownership of the Asset in lieu of payment of storage charges; and
- to terminate the contract without liability to the Buyer.
- 10.7 The Buyer waives any claim against WSV or the Seller arising from or in connection with the enforcement of this clause.
11. LIABILITY & INDEMNITY
- 11.1 To the fullest extent permitted by law:
- WSV and the Seller accept no liability for any loss, damage, injury or expense arising from the sale or use of the Asset.
- 11.2 The Buyer shall fully indemnify WSV and the Seller against all claims, losses or liabilities arising from:
- Inspection
- Collection
- Operation
- Ownership
- Transportation
RISK & TITLE
- 11.3 Risk in the Asset shall pass to the Buyer upon payment in full.
- 11.4Title shall not pass until:
- Full payment is received
- Cleared funds are confirmed
- 11.5 The Buyer is responsible for insurance immediately upon risk passing.
12. Tender Validity Period
- 12.1 All Tenders submitted shall remain valid, open for acceptance and binding for a period of twenty-eight (28) calendar daysfrom the tender submission deadline, unless withdrawn by WSV in writing.
- 12.2 During the Tender Validity Period, the Tenderer shall not be entitled to: Withdraw, amend or qualify their Tender; or Impose additional conditions or reservations.
- 12.3 WSV reserves the right to accept any Tender at any time during the Tender Validity Period.
- 12.4 Acceptance of a Tender within the Tender Validity Period shall create a binding contract subject to these Terms and Conditions.
- 12.5 For the avoidance of doubt, acceptance of a Tender during the Tender Validity Period shall immediately give rise to the payment obligations set out in these Terms and Conditions.
13. GOVERNING LAW
- 13.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of England and Wales.
- 13.2 The courts of England and Wales shall have exclusive jurisdiction.
14. ENTIRE AGREEMENT
- 14.1 These Terms and Conditions constitute the entire agreement between the parties.
- 14.2 No oral representations shall be relied upon.
15. AGENT DISCLOSURE
- 15.1 Witham Specialist Vehicles Ltd acts solely as Sales and Marketing Agent.
- 15.2 WSV accepts no ownership liability in respect of the Assets.
