17 Greenhills Avenue, Moorebank NSW 2170   Telephone: (02) 9822 7200   Fax: (02) 9601 1897  
alliance auctions
1. I/we undertake to settle all amounts owing as they fall due and to immediately notify you of any change in the particulars. In consideration of Alliance Auctions Pty Ltd (hereafter referred to as Alliance Auctions) supplying the vehicles to me/us, I/we hereby irrevocably acknowledge and agree that all Directors/shareholders/partners/individuals shall be personally liable for all debts so incurred.
2. I/we understand and acknowledge that any breach of these terms and conditions will involve withdrawal of dealer registration without notice and the issue of legal process for recovery of any outstanding amounts.
3. (Romalpa Clause)
3.1 Property in, and title to, any vehicle purchased does not pass to a purchaser, until such time as the vehicle purchased, and any other vehicle supplied by Alliance Auctions to the purchaser, have been paid for in full.
3.2 Where payment is made by cheque, payment is not effected until the funds have been cleared.
3.3 Until property in any vehicle sold by Alliance Auctions passes to a purchaser, a purchaser has possession of a vehicle as bailee only and the purchaser undertakes not to sell, trade, exchange, obtain any type of financial benefit, or otherwise deal with any vehicle purchased until all moneys owed to Alliance Auctions have been paid in full (and where payment is by cheque, it has been cleared). The purchaser and Alliance Auctions agree that until payment in full is received by Alliance Auctions, and funds are cleared, it may record its interest in any vehicle by entering it on the Personal Property Securities Register (PPSR).
NOTE: Breach of this term may, in certain circumstances, involve commission of a criminal offence. Where in doubt, immediately contact Alliance Auctions (02 9822 7200) before dealing with any vehicle.
3.4 While the purchaser holds any vehicle as bailee:
(a) the vehicle will nevertheless be at risk of the purchaser;
(b) the purchaser will house or store the vehicle separately from any other vehicle not sold by Alliance Auctions;
(c) the purchaser is liable for any loss or damage occasioned to the vehicle;
(d) the purchaser indemnifies Alliance Auctions against any claim arising from its use; and
(e) Alliance Auctions may at any time recover or resell the vehicle and may at any time enter upon the purchaser’s premises by its servants or agents for that purpose.
3.5 Without limiting subclause 3.1 hereof, the purchaser may with prior written consent of Alliance Auctions sell a specific vehicle before property has passed, but only on the following terms and conditions:
(a) the purchaser may sell only the specific vehicle for which Alliance Auctions has given its prior written consent, in the ordinary course of the purchaser’s business, to a bona fide purchaser for value, and only as agent for Alliance Auctions;
(b) the purchaser will hold the proceeds of any such sale in trust for Alliance Auctions and will keep the proceeds separate and apart from the purchaser’s own moneys; and
(c) The purchaser will account to Alliance Auctions for the proceeds on demand. Should the purchaser not account to Alliance Auctions for the proceeds on demand, Alliance Auctions reserves the right to register a caveatable interest upon any property whatsoever held by any Director/shareholder/partner or individual of the purchasing entity.
4. In the event that Alliance Auctions purchases/consigns vehicle(s) from me, I/we authorise Alliance Auctions to guarantee the title of the vehicle to the purchaser as a term of the sale.
4.1 I/we warrant to Alliance Auctions and authorise Alliance Auctions to so warrant when selling as my/our agent that the vehicle(s) is my sole and absolute unencumbered property, and is free from any Bill of Sale, Hire Purchase Agreement, lien, charge or other adverse interest, such as Written Off Vehicle Register or PPSR whatsoever, and that no person or corporation has any right, title or interest therein, and that I have good right and title to sell the same.
5. Damages
5.1 In the event of any breach of these terms and conditions by the purchaser:
5.1.1 The purchaser will indemnify Alliance Auctions, without limitation, for among other things:
(a) any loss, damage or expense suffered by Alliance Auctions in recovering or re-taking possession of any vehicle;
(b) any cost of repair or re-preparation of any vehicle for sale;
(c) any loss suffered by Alliance Auctions on resale of a vehicle.
5.1.2 Alliance Auctions may exercise its rights at law or in equity to trace the proceeds of any dealing by the purchaser.
5.1.3 This document shall be governed by the laws of New South Wales. Any provision of this document rendered void, invalid and unforeseeable shall not affect the validity or enforceability of the remainder.
5.2 Alliance Auctions reserves its right to charge interest on any overdue amount. Interest may accrue at a rate of 2% per month, calculated on a daily basis from the date that the payment became due until paid.
5.3 In the event that Alliance Auctions commences legal action against the purchaser and or any of or all of its Directors/Shareholders/Partners/Individuals and guarantors, all costs incurred in such action are to be added to the amount owing by the purchaser Director/Shareholder/Partner/Individual and guarantors.