Auction Conditions

• 1. All merchandise is sold 'as is' without any form of right to claim. Claims will not be admitted. No damages of any kind can be claimed from neither the auctioneer, the bid caller, the applicant, nor the bankruptcy court. This includes liability for ability to function, condition, lawfulness, indications of measurements, weight,dimensions, age, and description. DAM does not perform any sort of function test or other kind of inspection of the lots prior to the auction.
• 2. An auction fee is added to the bid sum: 15% of the bid sum (with a minimum of DKK 50,- per unit) + 2 % declaration fee + 25% VAT for sales to customers residing in Denmark. Example: Bid: DKK 1000,-: 15% auction fee = 1150 DK + 2% declaration fee = DKK 1173,- excl. VAT (25%). Minimum fee is DKK 50,-. Certain vehicles are exempt from VAT on the bid sum, but is payable for the auction fee and declaration fee.
• 3. No VAT is charged from buyers residing in the EU outside Denmark if the buyer states a valid VAT No. If the buyer resides outside the EU no VAT is charged, but the merchandise is not handed over until DAM A/S has received an export declaration from a forwarding agent. A copy of the freight document with a foreign destination is accepted.
• 4. The merchandise is paid in cash or by cheque or Dankort on the auction day. Eurocard and MasterCard are not accepted. The merchandise is handed over to the buyer only when a cheque or Dankort is cashed. After prior agreement, payment by IBAN/SWIFT can be transferred directly to our account immediately after the auction.
• 5. Delivery of merchandise: The time for delivery of merchandise is stated for each auction on the homepage and in the printed catalogue. Items collected must be paid for before collection and the collection must take place within the periods stated, according to the terms of the auction. A longer period before delivery may be accepted by prior agreement if items have to be dismounted. Merchandise must be removed within the delivery period. If the merchandise is not claimed during the delivery period, it is removed
• 6. For the buyer's account. DAM A/S may choose to sell unclaimed merchandise confidentially or by a private auction. In both cases the sale is made on the buyer's account, and the buyer is therefore liable to compensate for the resultant loss without being entitled to any possible profit. Participation in the bidding requires previous registration as a buyer. An invoice is made out to the winning bidder with the data stated by the buyer in connection with the registration. If a buyer wishes to modify these data after a successful bid, an administration fee of DDK 1000 (+ VAT for bidders residing in Denmark) is charged.
• 7. Any business concluded at the place of the auction must be registered on the DAM A/S forms, and otherwise conform to the Auction Conditions.
• 8. If during the auction any doubt should arise about the identity of the highest bidder, the bid caller decides whether a new announcement shall be made.
• 9. After a sale the merchandise remains for the buyer's account and risk. It is the buyer's responsibility to arrange for the merchandise to be dismantled and collected. Any damage in this connection is entirely the buyer's risk. If damage to buildings should occur, they must be repaired. In connection with disconnection of power, gas, water and drains the buyer is responsible for compliance with current rules and legislation. Also in other aspects the sale takes place without any responsibility for DAM A/S or the bid caller.
• 10. It is the buyer's full responsibility that purchased equipment complies with legal requirements before it is put into service. It is also the buyer's full responsibility to obtain permission to use various software/patents, etc. from the respective rights holders.
• 11. If a potential buyer cannot attend the auction, he may submit an absentee bid. This may be done on DAM A/S's homepage www.dam-auktion.dk before the deadline announced for each auction. Absentee bids may also be placed on auction day - this is done in the auction office. DAM A/S bids on behalf of the highest absentee bidder until either he has won the auction or a higher bid has been submitted. If the highest absentee bid equals the highest floor bid the floor bid wins. Please notice the bid is binding and cannot be cancelled.
• 12. The bid caller guarantees that the merchandise is free from encumbrances.
• 13. If no other agreement has been made, the purchased merchandise is to be removed for the buyer's account. When collecting the merchandise, the buyer must present a receipted invoice. If a buyer has arranged for a carrier to collect the merchandise, the original, a photocopy, or a fax copy of the receipted invoice must be presented.
• 14. All traffic on the auction area is at one's own risk.
• 15. Foreign buyers must bring signed document from your bank stating your maximum total bidding amount.

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