Page 124 - Heirloom Collectibles Antiques & Silver

TERMS AND CONDITIONS OF SALE TERMS AND CONDITIONS OF SALE

4.9 Bids may be placed in USD or INR. All foreign currency exchange rates 5.6 In the unlikely event that any Lot is proved to be inauthentic to AstaGuru’s 8. EXTENT OF ASTAGURU'S LIABILITY commencement of negotiations, either Party may elect to refer the dispute
during an AstaGuru Auction shall be based on a constant rate. However, satisfaction, within a period of 1 month from the date the Lot is collected 8.1 The description of the Lot, as contained on the Website is to the best to mediation by a Sole Mediator, who shall either be an Advocate having
they are subject to change after each session. by the Buyer from AstaGuru, AstaGuru shall be liable to pay back the Total of AstaGuru's opinion and as represented by the source. Bidders are at least 10 years’ practice at the Bombay High Court with experience
4.10 AstaGuru reserves the right to accept, record and reject any bid. Purchase Price minus any shipping charges, to the Buyer. The Lot shall be advised to engage and consult with independent professionals/experts on or training in Mediation, or a retired High Court Judge. The expenses
the same.
returned to AstaGuru by the Buyer in the same condition as it was, when
for Mediation shall be borne equally by the Parties. The Mediation can
4.11 AstaGuru reserves the right to reject the highest bid from any Bidder on it was delivered, at the Buyer’s expense and responsibility. 8.2 AstaGuru shall not be liable for any damage or loss during transit of take place at any venue mutually convenient to the Parties or even online
the Auction Date, at its sole discretion. 5.7 The Buyer shall be responsible for any expenses that AstaGuru may the Lot. Such losses must be covered by the Buyer as provided under through a video-conferencing application or any other suitable platform
4.12 Once the Bidder has placed a bid and/or a proxy bid, the Bidder cannot need to incur in order to authenticate the Lot, in the case of any claim Clause 7.4. or application.
cancel such a bid. of inauthenticity. 8.3 AstaGuru shall not be liable in case the Website has any technical 10.4 In case of the failure of the mediation proceedings, any dispute arising out
4.13 The closing bid is considered to be the winning bid only if such a bid 5.8 In the unlikely event that a Lot is proved to be inauthentic, AstaGuru shall problems, including for any failure or delay in executing the bids placed of or in connection with this Agreement, including any question regarding
exceeds the Reserve Price. raise a claim for refund of money with the original owner/source. If the via the Website. its existence, validity or termination, shall be referred to and finally
4.14 In the event a bid is placed under three minutes from the closing schedule original owner/source fails to refund the amount, the Buyer shall authorise 8.4 AstaGuru shall not be liable for the rejection of any bids received post the resolved by arbitration in accordance with the Arbitration Rules of the
stipulated closing time of the bid. AstaGuru acknowledges that there may
AstaGuru and cooperate in any manner possible to recover the amount
Mumbai Centre for International Arbitration (“MCIA Rules”), which rules
of the Lot, the closing time for that Lot will be reset to three minutes. This as may be due and payable by the original source/owner to AstaGuru, by be a lag period between the Bidder placing the bid and the same being are deemed to be incorporated by reference in this clause. The seat of the
process shall continue until there are no further bids placed under three adopting any appropriate legal proceedings. received and registered by AstaGuru. Bidders are advised to safeguard arbitration shall be Mumbai. The Tribunal shall consist of one arbitrator,
minutes remaining for the end of the auction. against such lags in placing individual bids by updating their account with appointed with the mutual consent of both parties. The language of the
4.15 AstaGuru reserves the right to rescind the sale within 7 (seven) Business 6. PAYMENT BY THE BUYER the relevant Proxy Bid. arbitration shall be English. The law governing this arbitration agreement
Days of the Auction Date on account of a breach of any of these Terms and 6.1 The title and ownership interest in the Lot shall be transferred in favour of 8.5 AstaGuru and any of its affiliates and (as applicable) their respective shall be The Arbitration & Conciliation Act, 1996, or any statutory
Conditions of Sale. the Buyer, along with the assignment of the Copyright that AstaGuru owns, directors, officers, employees, representatives and advisors shall not be amendment or modification thereof. The law governing the contract
only after all payment due under Clause 6 is received by AstaGuru in its liable for any errors or omissions on the Website, in the catalogue or in any shall be the Indian Contract Act, 1872, or any statutory amendment or
5. AUTHENTICITY bank account notified to the Buyer for payment through bank transfer. marketing communication. modification thereof. All the costs and fees to be borne by the parties to
5.1 AstaGuru assures on behalf of the source/owner of the Lot, the authenticity 6.2 The Total Purchase Price payable by the Buyer to AstaGuru shall include 8.6 Each and every obligation under these Terms & Conditions of Sale shall these Terms & Conditions of Sale in equal measure without recourse to
of the Lot on its Website to the best of its knowledge and abilities. AstaGuru the Hammer Price, AstaGuru Buyer’s Margin and any shipping, packing be treated as a separate obligation and shall be severally enforceable recovery of costs. Any reference to Arbitration under the terms of these
relies on the authenticity guarantees given by the source of the Lot and and handling charges incurred by AstaGuru in connection with the Lot, as as such in the event of any obligation or obligations being or becoming Terms & Conditions of Sale, shall be made by either Party in writing. The
cannot be held liable for its accuracy. Buyers are advised to conduct their calculated by AstaGuru. unenforceable in whole or in part. To the extent that any provision or Courts in Mumbai shall have exclusive jurisdiction in relation to any court
independent verification of the Lot for its authenticity and condition. 6.3 AstaGuru shall raise an invoice in favour of the Buyer within 3 (three) provisions of these Terms & Conditions of Sale are unenforceable, they proceedings, arising under, out of, or in relation to the arbitration. All costs
5.2 The Buyer may, subject to conditions under Clause 5.3, raise a claim Business Days of the Auction Date (“Invoice Date”). shall be deemed to be deleted from these Terms & Conditions of Sale and related to the Arbitration shall be borne by both the Parties equally.
challenging the authenticity of the Lot within 1 month from the date the 6.4 The Buyer shall pay the Total Purchase Price to AstaGuru within 7 (seven) any such deletion shall not affect the enforceability of the remainder of 10.5 Each of the Parties hereby acknowledges and agrees that its failure to
Lot is collected by the Buyer from AstaGuru. A claim for refund in the days of the Invoice Date (“Collection Date”). these Terms & Conditions of Sale not so deleted provided the fundamental participate in arbitration proceedings commenced pursuant to Clause
case of any inauthenticity of the Lot may be made only by the Buyer, 6.5 Buyers, who are Indian Tax residents, shall pay the Total Purchase Price Terms & Conditions of Sale are not altered. 10.4 above in any respect or to comply with any request, order or direction
and nobody else. If the Buyer transfers the Lot to any other entity, that in INR and all other Buyers shall pay in USD. If the Total Purchase Price of the arbitrator shall not preclude the arbitrator from proceeding with
entity shall not be eligible to make any claim against AstaGuru for any is stipulated in INR terms, then the Buyer must ensure that AstaGuru 9. EXTENT OF BUYER'S LIABILITY such arbitration and/or making a valid final award.
reason whatsoever. receives the full payment of the Total Purchase Price, irrespective of 9.1 Securing the winning bid shall be deemed to result into an enforceable 10.6 The decision/ award of the arbitrator shall be made in writing and shall be
5.3 In order to successfully raise a claim to challenge the authenticity of the exchange rate fluctuations, if any. contract of sale between AstaGuru and the said Bidder in accordance final and binding on the Parties. The Parties shall submit to the arbitrator's
Lot under this Clause 5: 6.6 In the event the Buyer does not pay the Total Purchase Price within the with these Terms and Conditions of Sale. award and the same shall be enforceable in any competent court of law.
a) the Buyer shall be required to produce examinable proof clearly timeframe provided under Clause 6.4, he shall be liable to pay a Late Fee 9.2 All Lots offered in an AstaGuru Auction are in its 'present/current 10.7 All notices or other communications to be given under these Terms &
demonstrating that the Lot is deemed inauthentic by an established to AstaGuru at 2 % (two per cent) per month up to 4 months after which, condition' encompassing all existing faults and imperfections. Bidders Conditions of Sale shall be made in writing and by letter to the Registered
and acknowledged authority; the Sale may be subject to cancellation and a further penalty of 18% on are advised to inspect each Lot carefully before bidding. Address of AstaGuru or by email to contact@astaguru.com; and shall
b) the Lot should be in the same condition as it was at the time of purchase the “Hammer Price”. 9.3 The Buyer shall be liable for all the packing, insurance, shipping or be deemed to be duly given or made when delivered (in the case of
from AstaGuru, subject to AstaGuru's satisfaction; and 6.7 In the event the Buyer does not pay the Total Purchase Price within the handling charges in connection with the sale of the Lot. personal delivery).
c) any expenses incurred by AstaGuru in recovering the amount stipulated timeframe provided under Clause 6.4, AstaGuru shall treat 9.4 The Buyer shall be liable for any duties or taxes in addition to the Total
refundable under Clause 5.5 shall be borne by the Buyer. such non-payment as a breach of these Terms and Conditions of Sale Purchase Price under Clause 6.2 in connection with the sale of the Lot. 11. MISCELLANEOUS
5.4 List of Authenticators- If the Lots are Memorabilia, AstaGuru relies on the and Parties shall proceed on the premise that a Dispute under Clause 10 9.5 All Lots classified as Antiquities or Art Treasures under the Antiquities and 11.1 By participating in any auction, the Bidder acknowledges and accepts that
below mentioned 3rd party authenticators, as may be updated from time has arisen. Art Treasures Act, 1972 are non-exportable and cannot be taken out of he is bound by these Terms & Conditions of Sale, as may be updated from
to time, at AstaGuru's discretion. 6.8 In the event the Buyer does not pay the Total Purchase Price within the India. Any attempt to export such a work without the express permission time to time on the AstaGuru website at www.astaguru.com. AstaGuru
 PSA / DNA, based out of Newport Beach, California, United States stipulated timeframe provided under Clause 6.4 & 6.6, AstaGuru may at of Archaeological Survey of India (ASI) shall entirely be at the Buyer's risk. can make changes to these Terms and Conditions of Sale from time to
of America. its discretion dispose the Lot as it may deem fit, including by a re-auction. 9.6 All Lots deemed to be a 'Notified Antiquity' under the Antiquities and Art time without any prior notification. It shall be the Bidder’s responsibility to
 Authentic Autographs Unlimited (AAU), based out of Las Vegas, United Treasures Act, 1972 need to be registered with ASI. After such a Lot is make himself aware of the updated Terms and Conditions of Sale, if any
States of America 7. DELIVERY AND COLLECTION OF PURCHASED LOT sold at the auction, it is the Buyer's responsibility to intimate the ASI of before an AstaGuru Auction.
 James Spence Authentication (JSA), based out of Florida, United 7.1 Subject to receipt and clearance of the Total Purchase Price, AstaGuru such transfer. 11.2 Each and every obligation under these Terms and Conditions of Sale shall
States of America. shall ship the Lot to the Buyer within 7 Days from receipt of the Total 9.7 Due to the unpredictable nature of internet/Mobile App data network, be treated as a separate obligation and shall be severally enforceable
 Online Authentics, based out of California, United States of America. Purchase Price (“Date of Payment”). there may be a lag period between the time of the Bidder placing the as such in the event of any obligation or obligations being or becoming
 Beckett Authentication Services (BAS), based out of Phoenix, Arizona, 7.2 All delivery durations / periods mentioned shall only be an estimate based bid, and it being received/registered by AstaGuru’s server. Although the unenforceable in whole or part. To the extent that any Clause of these
United States of America. on past experience and estimates given by our delivery partners and shall Bidder may have placed a bid within the stipulated closing schedule, Terms and Conditions of Sale are unenforceable, they shall be deemed to
 Guaranteed Forensic Authenticators (GFA), based out of United States not be construed to be a guarantee. nonetheless, AstaGuru receives the transmitted bid post the closing be deleted and any such deletion shall not affect the remainder of these
of America. 7.3 Subject to receipt and clearance of the Total Purchase Price payable by schedule; in that event the bid will be rejected under such circumstances. Terms and Conditions of Sale not so deleted, provided the fundamental
 Firma Stella based out of United Kingdom the Buyer, the Buyer may also opt to collect the Lot from AstaGuru at his It shall be the Bidder’s responsibility to update his account with the terms of these Terms and Conditions of Sale are not altered.
 Field of Dreams, based out of Texas, United States of America. own expense and responsibility. relevant Proxy Bid in order to safeguard any lag-oriented delays while 11.3 AstaGuru reserves the rights to store, engage with, and use all the data
 Online Authentics, based out of California, United States of America. 7.4 Any Buyer who opts to collect the Lot from AstaGuru under Clause 7.2 but placing individual bids. shared by a Registered Bidder across all formats, including but not
 Antiquities Experts, based out of New York, United States of America. has not collected the said Lot within 30 days from the Date of Payment restricted to – website registrations, social lead generation forms, search
 Wonderland Memorabilia, based out of Nottingham, UK shall be charged a demurrage/storage fee at 2% per month on the Total 10. GOVERNING LAW AND DISPUTE RESOLUTION engine lead forms, etc.
 Antiquities of California (AOC), United States of America Purchase Price of the Lot calculated from the Date of Payment. 10.1 These Terms & Conditions of Sale shall be governed by and construed in 11.4 AstaGuru does not sell the personal information of its Registered Bidders.
 SchwartzSportsAuthentic.com 7.5 The Buyer shall be liable to insure the Lot against any damages or losses all respects in accordance with the Applicable Laws of India, as amended AstaGuru, however, does share personal information with third parties for
 Upper Deck Authenticated (UDA), based out of California, United in transit. from time to time [without giving effect to its principles of conflict of laws] the purpose for marketing and analytics services to create and improve its
States of America. 7.6 Unless the description of the Lot stipulates otherwise, all purchased Lots 10.2 Any dispute, claim or controversy whatsoever arising out of or in marketing activities, its own services and provide a better experience to
 International Cricket Council (ICC) based out of Dubai, United Arab are packed & dispatched as per AstaGuru’s determination of the best connection with or relating to these Terms & Conditions of Sale, including its clients/customers.
Emirates. Autograph Collectables, based out of California, United mode of shipping. However, if the Buyer prefers an alternative, the same the existence, breach, termination or invalidity thereof (“Dispute”), shall 11.5 Until the Buyer pays the Total Purchase Price to AstaGuru, no title, right of
States of America. may be implemented at the Buyer’s cost & responsibility. AstaGuru will first be attempted to be resolved by good faith negotiations between the ownership or otherwise shall be transferred in favour of the Buyer.
 Icons.com. invoice the buyer for costs incurred in relation to the foregoing and shall respective senior executives of the Parties who have the authority to settle 11.6 AstaGuru reserves the right to store, maintain and use any data as it may
 Online Authentics, based out of California, United States of America. not incur any responsibility for any damage that may be caused to the Lot such Disputes. Negotiations pursuant to this clause shall be requested by collect before, during or after any auction to provide any service in the
 Authenticatedsignedink.com. during transit. either Party by notice to the other Party in writing. present or future. AstaGuru shall also have the right to use such data as
5.5 If the Buyer's claim to challenge the authenticity of the Lot under Clause 7.7 In the case of international shipments, International Chamber of 10.3 In the event that any Dispute is not resolved through negotiations in it may see fit in order to analyse, improve and market its services. These
5 is successful, the Buyer shall be refunded the Total Purchase Price (as Commerce (hereinafter: ICC) EXW (Mumbai), Incoterms 2020 shall be accordance with Clause 10.2 above within 14 (fourteen) days after data shall include any personal information, auction data, bid history,
defined below), subject to recovery of such amount by AstaGuru from the applicable to these Terms & Conditions of Sale. one Party has served a written notice on the other Party requesting the pricing history, etc.
source of the Lot.