5. Obligation To Pay
5.3 - If you:
- 5.3.1 - refuse to pay or otherwise fail to complete the purchase of an item when you are the Winning Purchaser (for example, if your credit card balance is insufficient to meet all money due)
- 5.3.2 - do not comply with the terms and conditions of the Users Agreement
ALLBIDS may, in our absolute discretion
cancel your ALLBIDS user account and:
- 5.3.A - take legal action to recover all money owing to ALLBIDS, including any Buyers Premium and lost income;
- 5.3.B - resell the item in any manner and on such conditions as ALLBIDS see fit without notice of resale to you and claim the net shortfall (between the Invoice Amount and the resale price received after deducting all expenses (as specified in (C)) (if any) from you
- 5.3.C - charge you a dishonour fee of 2.5% of the Invoice Amount to cover cost of resale of the item, lost commission and Buyers Premium (if any), administration costs, restocking costs, additional costs including advertising, insurance, transportation, storage and any other reasonably incurred expenses incurred in reinstating ALLBIDS to the same position as if the item was sold to you
- 5.3.D - in taking the steps in (A), (B) or (C), you authorise ALLBIDS to charge your credit card for any amount owing to us.
17. Collection of Goods
17.1 - All items must be collected from the ALLBIDS warehouse strictly within 72 hours or the stipulated period written within the auction lot description unless another arrangement has been made and agreed to in writing by a manager or director of ALLBIDS prior to the auction closing. In the event that any item remains in the ALLBIDS warehouse for longer than 72 hours or the stipulated period and there is no written agreement to the contrary, ALLBIDS reserves the right to re-list the uncollected assets or items and re-sell them to another bidder. By purchasing an item you authorise ALLBIDS to sell an uncollected item and agree that ALLBIDS may sell any uncollected item as contemplated in this clause and indemnify ALLBIDS against any loss or damage no matter how, where or when occurring that may arise out of ALLBIDS sale or re-sale of the uncollected item.
17.2 - If the uncollected item is sold for an amount greater than it was originally purchased for the difference will be payable to the original buyer less a $30 administration fee to cover account processing costs.
17.3 - If the uncollected item is sold for an amount less than it was originally purchased for the difference shall be retained by ALLBIDS and paid to the Vendor with the balance of monies paid being refundable to the original purchaser less a $30 administration fee to cover account processing costs.
17.4 - ALLBIDS reserves the right to extend the 72 hour period where, in its sole discretion such extension is warranted.
