RAM AUCTIONS, A DIVISION OF RAM TUBULARS LIMITED

TERMS AND CONDITIONS OF BUSINESS FOR

THE PURCHASE OF GOODS AT ONLINE AUCTION

INFORMATION ABOUT US

RAM Auctions, a Division of RAM Tubulars Scotland Limited, is a company incorporated under the Companies Acts, Company Registration Number SC156196 with our registered office at 31-33 Union Grove Aberdeen AB10 6SD and with our main trading address at 48 Queen's Road, Aberdeen AB15 4YE and We operate Our Website www.ramauctions.co.uk for the purposes of conducting Online Auctions.

1. APPLICATION OF TERMS

1.1 These are the terms and conditions that apply to Our Online Auction Sales and to the use of Our Website.

1.2 Please read these terms and conditions carefully before bidding on any Lots on Our Website. You should understand that by accessing Our Website or bidding on any Lots, You agree to be bound by these terms and conditions. No offers or Bids made by You shall alter or qualify these terms and conditions unless We specifically confirm this in writing.

2. INTERPRETATION

In these terms and conditions the following words and expressions shall have the following meanings:-

“Auction” means an Online Auction (as defined below) at which RAM Auctions acting as agent for the Vendor offers for sale and/or sells the Goods submitted by the Vendor as Lots to the Bidders;

“Auction Listing” means the Online Catalogue of Goods available for purchase at the Online Auction including a description of the Goods;

"The Auctioneer" means the individual managing the Online Auction for and on behalf of RAM Auctions;

“Bid” means any offer to buy a Lot as part of the Online Auction;

“Bidder” means the person making a Bid on a Lot offered in the Online Auction, either in their own capacity or on behalf of another individual, company, partnership or other body corporate or unincorporated;

“Buyer” means the person, partnership, company or other organisation that is the Bidder or represented by the Bidder with the highest Bid if such Bid is accepted by the Auctioneer in the form of the Online Auction;

“Buyer’s Premium” means the premium (if applicable) payable by Buyers in respect of the Lots that is detailed on Our Website Catalogue;

“Catalogue” means Our Catalogue detailing Lots being sold by a Vendor;

“Contract” means a contract between RAM Auctions and a Buyer in accordance with and incorporating these Conditions for the sale of Lots;

“Entry Details” means the documentation and information (including details submitted via RAM Auction’s website or other electronic means) provided by the Vendor of Goods submitted as Lots for sale in the forthcoming Auction;

"The Conditions of Sale" are collectively these Terms and Conditions of Sale;

“Goods” means the items that form Lots in whole or in part described in the Auction Listing as submitted by the Vendor for entry as a Lot at Auction;

“Hammer Price” means in relation to any Lots, the Bid accepted by the Auctioneer via the Online Auction system, and paid by the Buyer to RAM Auctions as the selling agent for the Vendor;

“Intellectual Property” means any patent, copyright, registered design, unregistered design, right, trade mark or other intellectual property in relation to the Goods being offered for sale at the Online Auction;

“Liability” means liability for any and all damages, claims, proceedings, actions, awards, expenses, costs and any other losses and/or liabilities;

“Lots” means any Goods either seperately or collectively being offered for sale at Our Online Auctions;

“Online Auction” means an auction for the purchase of a Lot which is conducted on Our Website;

“Our Website” means www.ramauctions.co.uk;

“Reserve Price” where applicable, means the lowest price that a Vendor is prepared to sell the Lot for at the Online Auction;

“Sale” means the sale of a Lot by a Vendor to a Buyer by Online Auction;

"Terms and Conditions" means this document including any schedules;

“VAT” means value added tax as provided for in the Value Added Tax Act 1994 and any tax equivalent to value added tax;

“Vendor” means the individual, company or organisation corporate or unincorporated that has engaged RAM Auctions to act as selling agent to facilitate the sale of Goods on behalf of the Vendor;

“We/Us/Our/the Auctioneers” means RAM Auctions as per the Information About Us noted above;

“You/Your” means a party who Bids on or buys a Lot.The singular is deemed to include the plural (and vice versa) and the masculine is deemed to include the feminine (and vice versa). All obligations, agreements or warranties given by or on behalf of the Buyer pursuant to The Conditions of Sale shall, where such party consists of two or more persons, be deemed to be joint or several.

3. SERVICE AVAILABILITY

We reserve the right at all times to refuse Bids from, or restrict bidding, from certain countries, organisations, corporate entities, or individuals, and to deny or restrict access to Our Website.

4. CONDUCT OF SALES AND FORMATION OF CONTRACTS

Formation of Contract

4.1 Bids constitute only an offer to buy a Lot from the Vendor subject to these terms and conditions and any applicable Special Conditions. All Bids are strictly subject to acceptance by Us and if We accept Your Bid on behalf of the Vendor We will confirm such acceptance to You by issuing an invoice to you.

Suspension of Auctions

4.2 We reserve the right to suspend an Auction at any time. No Contract is formed between You and the Vendor until we issue an invoice to You. If an Auction is suspended then no Contract shall exist between You and the Vendor whether or not Our Website states or stated that the Auction had “closed” or a Lot had been “sold”.

Acceptance of Bids

4.3 We and the Vendor or Offeror reserve the right to refuse any Bid and shall be under no obligation to accept the highest Bid for a Lot, and will be entitled to accept the whole or any part of any Bid.

Online Auctions

4.4 All Bids for Lots being sold in an Online Auction must be made via Our Website. Your Bid constitutes an offer to buy a Lot from the Vendor subject to these terms and conditions and any applicable Special Conditions. All Bids are subject to acceptance and if We accept Your Bid on behalf of the Vendor We will confirm such acceptance to You by issuing an invoice to you.

General

4.5 We reserve the ‘right of admission’ to all Online Auctions via Our Website, and the conduct of Sales shall be at Our sole discretion.

4.6 Buyers who Bid for Lots on Our Website will be identified by the User ID they have used to log in to Our Website.

4.7 Bids may not be withdrawn notwithstanding any statement on Our Website including but not limited to a statement that an Auction has closed or that a reserve price has not been met. All bids shall remain valid at least until 24 hours after the time that an Auction closes.

4.8 We and the Vendor reserve the right to fix or alter a reserve purchase price on any Lot at any time before the Contract is formed, and either before, during, or after the relevant Auction, and may withdraw consolidate or divide any Lot at any time.

4.9 If Your Bid is detailed on Our Website as being the current leading bid this does not guarantee that it meets the reserve price which has been or may subsequently be set in relation to the Lot.

4.10 Bids must meet any relevant minimum bid increase.

4.11 You may inspect Lots only by appointment with RAM Auctions at the times and at the premises specified on Our Website, and to satisfy yourself on all matters affecting the Lots before Bidding.

4.12 When inspecting Lots You must not damage, dismantle or move them.

4.13 Without prejudice to the foregoing, We may refuse any Bid and may restrict the maximum Bid that You may make having regard, inter alia, to the quantum of any deposit which You may have made.

Reserve Prices

4.14 Where a reserve price is shown in respect of any Lot, We may reduce, or remove, any reserve price during the course of, or within 24 hours of the closing of, any Auction. For the avoidance of doubt, any indication in respect of a Lot that a reserve has not been met is not conclusive until 24 hours after the time at which an Auction in respect of a Lot has closed.

5. YOUR USE OF OUR WEBSITE

5.1 No part of Our Website may be reproduced or stored in any other website or included in any public or private electronic retrieval system or service without Our prior written permission.

5.2 While We endeavour to ensure that Our Website is normally available 24 hours a day, We shall not be liable if for any reason it is unavailable at any time or for any period.

5.3 Access to Our Website may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for reasons beyond Our control.

5.4 While We try to ensure that the information on Our Website is correct, We do not warrant its accuracy and completeness. We do not provide any guarantee that the information contained on Our Website in relation to the status of Auctions or Lots is accurate, including but not limited to information regarding Auctions being “closed” or “suspended” or Lots being “sold”, or Bids being the current leading bid.

5.5 We may make changes to the material on Our Website at any time without notice.

5.6 In order to use Our Website to make Bids You must create an account with a registered User ID and password. You are responsible for activity undertaken under that User ID and password and must ensure that you keep these safe and do not allow any other person access to them.

6. COLLECTION, HANDLING AND CONDITION OF LOTS

6.1 Buyers will be responsible for removal of Lots purchased by them from Our yard. All lots, where applicable and where deemed acceptable by RAM Auctions, will be made available ‘free on truck’ by RAM Auctions, and no mechanical lifting or craneage operations by third parties will be permitted within Our premises without the express prior approval of Us. Upon laydown on Buyer’s transport, full risk of Lots/Goods passes to the Buyer;

6.2 No Lot or part thereof can be removed until payment is made in full for it, together with payment of all other amounts due from You to us or the Vendor;

6.3 No Lot shall be cleared without Our authority, and no Lot shall be cleared unless We or Our employees or agents are present;

6.4 Removal of Lots shall take place by appointment with RAM Auctions;

6.5 We may at Our discretion require the payment of a deposit prior to and/or during the removal of any Lots, which will be refunded on such removal being completed to Our satisfaction. If the Buyer refuses to deposit such monies, we or the Vendor may refuse the Buyer access to the relevant premises for the purposes of removing the Lot and/or to rescind the Sale without penalty.

6.6 The Buyer shall have no right to anything not described on Our Website or in the relevant Catalogue.

6.7 In exceptional circumstances we may agree to deliver Lots to You or store Lots bought by You in which case the following conditions shall apply, unless we agree otherwise in writing:

6.7.1 Delivery of the Lots shall take place at Our place of business;

6.7.2 The Lots shall be at Buyer’s risk from the time the Sale ends;

6.7.3 You shall take delivery of the Lots within 2 days of Us giving notice that the Lots are ready for delivery;

6.7.4 Any dates specified by Us for delivery of the Lots to You are intended to be an estimate and time for delivery shall not be made of the essence by notice. If no dates are so specified, delivery shall be within a reasonable time;

6.7.5 Subject to the other provisions of these conditions We shall not be liable for any direct, indirect or consequential loss (all three of which terms include, without limitation, pure economic loss, loss of profits, loss of business, depletion of goodwill and similar loss), costs, damages, charges or expenses caused directly or indirectly by any delay in the delivery of the Lots (even if caused by Our negligence), nor shall any delay entitle the Buyer to terminate or rescind the Contract unless such delay exceeds 180 days;

6.7.6 We may store the Lots until delivery, and the Buyer shall be liable for all related costs and expenses (including, without limitation, storage and insurance); and

6.7.7 The Buyer shall provide at the delivery point and at its expense adequate and appropriate equipment and manual labour for taking delivery of the Lots.

6.8 Appropriate protective clothing, such as hard hats and safety shoes, must be worn during any removal or transportation activities involving Lots and due regard paid to relevant handling practices, laws regulations and codes of practice as well as any of the Vendor’s or Our safety stipulations.

6.9 All electrical equipment and electrical supplies must be left in a safe condition during and after the removal of Lots and the use of explosives, flame cutting equipment or any other potentially hazardous or inflammatory process, shall not be permissible on the site without Our express written consent.

6.10 It is expressly brought to Your attention that, at the time of sale, any item of plant, machinery or equipment contained in the Lot(s) may not necessarily comply with relevant Health and Safety or any other legislation governing the use of that plant, machinery or equipment, and no warranty is given that any Lots will so comply. From the conclusion of the relevant Contract it is the Buyer’s responsibility to ensure that such Lots will be safe and that their use does not contravene any legislation.

6.11 Neither We nor the Vendor represents that any Lot sold which comprises furniture or furnishings subject to the Furniture and Furnishings (Fire & Safety) Regulations 1998, or similar legislation, are in a condition which makes them suitable for domestic use. Prior to supplying such Lots for domestic use the Buyer must therefore ensure that they comply with the requirements of such laws and regulations.

6.12 Buyers must ensure that any motor vehicles forming part of the Lots comply with all relevant Laws and Regulations and have all necessary permits, certificates and authorisations before being used and neither We nor the Vendor warrant the accuracy of any recorded mileage on any motor vehicle forming part of the Lots.

7. RISK AND TITLE

7.1 Title to the Lots shall only pass to the Buyer upon the latter of full payment for such Lot together with any other sums due from the Buyer to Us of the Vendor, and removal of the Lot in accordance with these terms and conditions, and anyone purporting to sell Lots before having title to do so in accordance with these terms and conditions, will be deemed to hold and shall hold the sale proceeds on trust as agent for Us and the Vendor.

7.2 The Lots will be at the Buyer’s risk from the time the relevant Sale ends and the Buyer shall effect insurance for these risks at once. In no circumstances will We or the Vendor be held responsible if any Lot or part thereof is stolen damaged or destroyed after the Sale ends.

7.3 The Vendor shall only sell such title to the Lots as it may have.

7.4 Prior to clearance of any Lots We or the Vendor may rescind the Contract for the sale of that Lot should any third party claim title to or possession of any part of the Lot.

7.5 If at any time We or the Vendor establish that a Lot is subject to a charge, lien, retention of title claim or other encumbrance or that the Vendor does not have an unencumbered title thereto then either We or the Vendor may give notice in writing that the Lot is to be excluded from the relevant Sale. In this case the Buyer shall be deemed to have waived and relinquished such title as it may have acquired to such Lot and this shall not be a ground for rescinding, avoiding or varying any or all of the provisions hereof or, for recovery of any or all of the purchase price paid by the Buyer.

7.6 If the title of the Vendor to any Lot or part thereof which is transferred to the Buyer is called in to question by any third party, or if there is a dispute in relation to these Terms and Conditions, the Buyer will allow the Vendor access to the Lot(s) in question during normal business hours for the purpose of resolving such question.

7.7 If any Lots are excluded from these Terms and Conditions in accordance with Clause 9.5, the Buyer undertakes with Us and the Vendor to:-

7.7.1 deliver at its own expense the Lots on being requested to do so by Us or the Vendor to such place as we shall require; or

7.7.2 repay us or the Vendor upon demand such amount as is agreed between the Vendor and the owner of the relevant Lot or party having a claim thereto, as represents the sum recoverable from the Vendor by reason of the Buyer’s failure to deliver the Lot in accordance with sub-clause 7.7.1.

8. PRICE AND PAYMENT

8.1 Any sums payable to Us or the Vendor by the Buyer, must be made in full in such form as We may specify by 4pm on the day following the end of the Auction or Sale, and in any case before clearance of the relevant Lots.

8.2 We and the Vendor reserve the right to extend the period a Buyer has to make payment for any Lots or other sums due to Us or the vendor, and in this event will be entitled to charge interest.

8.3 All prices specified by Us exclude VAT which shall be payable in addition.

8.4 Where invoices or parts thereof are zero rated for VAT because Lots are to be exported from the United Kingdom, you indemnify us and the Vendor in respect of any VAT which is or may become payable in respect of those Lots and We and the Vendor shall be entitled to charge You such amount of VAT in respect of those Lots which amount shall be payable immediately by You. We and/or the Vendor may ask You to provide evidence that Lots are being exported and shall determine whether such evidence is acceptable.

8.4 VAT is payable on the Buyer’s Premium (where applicable) which is deemed to be a service rendered in the UK and as such not exportable.

8.5 No sale shall be valid in the event that any payment medium tendered by you shall not be honoured by a bank or other financial entity or shall be the subject of any chargeback or reversal of any payment for any reason whatsoever. In such circumstances, not only shall We proceed to sell the Lot to another purchaser, but You shall be liable to reimburse us, without limit, of all costs charges and expenses incurred by us and in addition the amount of any shortfall between the price at which you had offered to purchase the Lot and any price ultimately achieved.

9. EVENTS OF DEFAULT AND RESCISSION OF CONTRACT

9.1 We and the Vendor will be entitled to rescind any Contract where:-

9.1.1 payment of the purchase price or deposit for any Lot, or any other sum payable by the Buyer to Us or the Vendor, is not paid in accordance with these terms and conditions;

9.1.2 removal of any Lot is not made in accordance with these terms and conditions;

9.1.3 You breach any other of these terms and conditions;

9.1.4 You become insolvent or bankrupt or make any arrangement or composition with Your creditors, or shall have a receiver appointed over all or any part of Your assets, or if You take any similar action in consequence of debt; or

9.1.5 Any third party has title to or the right possession of any of the Lots .

9.2 Upon rescission of a Contract by Us or the Vendor the following provisions apply:-

9.2.1 if the Lots have been cleared either We and/or the Vendor, or Our employees or agents may enter Your premises of the Buyer to recover such Lots;

9.2.2 Lots may be re-sold or otherwise disposed of by Us or the Vendor in the manner we feel appropriate and at Our sole discretion;

9.2.3 any shortfall between the price realised for the said Lot(s) upon resale and the price originally sold for to a defaulting Buyer, together with the expenses incurred in effecting such resale and any other costs resulting from the Buyer’s default, shall be due as a debt from the defaulting Buyer. Neither We nor the Vendor shall be liable to account to a defaulting Buyer in the event of a resale at a higher price than the price originally due from a defaulting Buyer; and

9.2.4 the defaulting Buyer will be responsible for all losses and expenses incurred by Us and/or the Vendor resulting from the default, including storage, security and removal expenses, the costs of re-selling or disposing of lots and auctioneers’ commission.

10. LIABILITY

10.1 No Lots are sold as new and all Lots are believed to be correctly described and are sold without warranty. Neither We nor the Vendor, nor Our employees or agents makes or gives any representation in relation to any Lot. With the exception of any liability we cannot lawfully exclude, neither We nor the Vendor or Our employees agents or employees shall be liable for any loss or damage suffered as a result of or in connection with any defects or deficiencies in any Lots, errors of description of Lots, any mis-statements as to any matter affecting the Lots or the failure of the Lots to fulfil the functions for which they are intended.

10.2 Our liability for losses You suffer as a result of us breaching these terms and conditions is strictly limited to the purchase price of the Lot You purchased and any losses which are a foreseeable consequence of Us breaching these terms and conditions. Losses are foreseeable where they could be contemplated by You and Us at the time the relevant Contract is concluded.

10.3 Nothing in these terms and conditions shall limit in any way Our liability:

10.3.1 for death or personal injury caused by Our negligence;

10.3.2 under the Consumer Protection Act 1987 or the Sale of Goods Act 1979;

10.3.3 for fraud or fraudulent misrepresentation; or

10.3.4 for any matter for which it would be illegal for us to exclude, or attempt to exclude, Our liability.

10.4 We are not responsible for indirect losses which happen as a side effect of the main loss or damage, including but not limited to:

10.4.1 loss of income or revenue;

10.4.2 loss of business;

10.4.3 loss of profits or contracts;

10.4.4 loss of anticipated savings;

10.5 You hereby indemnify Us and the Vendor, Our employees and agents against any and all losses, damages or expenses suffered as result of Your breach of these terms and conditions, and shall obtain the requisite insurance cover against this indemnity.

11. IMPORT/ EXPORT DUTIES AND CONDITIONS

11.1 If any Lots are exported outside the UK, they may be subject to import duties and taxes which are levied when they reach the specified destination. You will be responsible for payment of any such import duties and taxes. Please note that we have no control over these charges and cannot predict their amount. Please contact Your local customs office for further information before Bidding.

11.2 Please also note that You must comply with all applicable laws and regulations both of the UK and of the country for which the Lots are destined, including but not limited to obtaining any licences or permissions required to export the Lots from the UK or import the Lots to the destination country. Neither We nor the Vendor will be liable for any breach by You of any such laws or regulations and You hereby indemnify us and the Vendor against any loss caused by Your failure to abide by them.

12. WRITTEN COMMUNICATIONS

Applicable laws require that some of the information or communications we send to You should be in writing. When using Our Website, You accept that communication with us will be mainly electronic. We may contact You by e-mail or provide You with information by posting notices on Our website. For contractual purposes, You agree to this electronic means of communication and You acknowledge that all contracts, notices, information and other communications that we provide to You electronically comply with any legal requirement that such communications be in writing.

13. EVENTS OUTSIDE OUR CONTROL

13.1 Neither we nor the Vendor will be liable or responsible for any failure to perform, or delay in performance of, any of Our obligations under a Contract that is caused by events outside Our reasonable control (“Force Majeure Event”).

13.2 A Force Majeure Event includes any act, event, non-happening, omission or accident beyond reasonable control and includes in particular (without limitation) the following:

13.2.1 strikes, lock-outs or other industrial action;

13.2.2 civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war;

13.2.3 fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster;

13.2.4 impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport;

13.2.5 impossibility of the use of public or private telecommunications networks including the internet and other computer networks; or

13.2.6 the acts, decrees, legislation, regulations or restrictions of any government.

13.3 Performance under any Contract is deemed to be suspended for the period that the Force Majeure Event continues, and We and the Vendor will have an extension of time for performance for the duration of that period. We will use Our reasonable endeavours to bring the Force Majeure Event to a close or to find a solution by which Our obligations under the Contract may be performed despite the Force Majeure Event.

14. WAIVER

14.1 If We fail or the Vendor fails at any time to insist upon strict performance of any of Your obligations under the Contract or any of these terms and conditions, or if We fail to exercise any of the rights or remedies to which we are entitled under the Contract, this shall not constitute a waiver of such rights or remedies and shall not relieve You from compliance with such obligations.

14.2 A waiver by Us or the Vendor of any default by You under these terms and conditions shall not constitute a waiver of any subsequent default.

15. SEVERABILITY

If any of these terms and conditions or any provisions of a Contract are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.

16. ENTIRE AGREEMENT

16.1 These terms and conditions, together with any Special Conditions, represent the entire agreement in relation to the subject matter of any Contract and supersede any prior agreement, understanding or arrangement, whether oral or in writing.

16.2 You acknowledge that, in entering into a Contract, you have not relied on any representation, undertaking or promise except as expressly stated in these terms and conditions.

16.3 Neither the Vendor nor the Auctioneers make or give any representation or warranty in relation to any aspect of the Lot nor have the Auctioneers or any person in the employment of the Auctioneers any authority to do so on the Vendor’s behalf.

17. OUR RIGHT TO VARY THESE TERMS AND CONDITIONS

17.1 We have the right to revise and amend these terms and conditions from time to time to reflect changes in market conditions affecting Our business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in Our system's capabilities.

17.2 You will be subject to the policies and terms and conditions in force at the time that You participate in an Auction, unless any change to those policies or these terms and conditions is required to be made by law or governmental authority (in which case it will apply to Contracts previously made by You).

18. LAW AND JURISDICTION

Contracts, including the Articles of Roup and any Minute of Preference and Enactment following thereon will be governed by Scots Law. Any dispute arising from, or related to, such Contracts shall be subject to the non-exclusive jurisdiction of the courts of Scotland, and We and the Vendor reserve the right to bring proceedings against You in any other court or competent jurisdiction.