Terms and Conditions
Heritage Place Terms and Conditions
Online Bidding Settlement Procedures
FIRST – PAYMENT OF ACCOUNT; At the conclusion of bidding on each lot, the successful bidder’s credit card, unless credit is approved by Heritage Place, Inc., will be charged for the purchase price plus a 3% buyer’ fee. A Sale Ticket will be printed and will be kept with the shipment papers to be given to the person(s) you have obtained to transport the horse.
SECOND – ORDER FOR DELIVERY; After payment of the buyer’s account in full, Heritage Place, Inc. will issue to the buyer an Order For Delivery, possession of which will permit removal of the animal from the stables after payment of all applicable charges. Buyers are cautioned not to lose the Order For Delivery and Heritage Place, Inc. assumes no responsibility for any delivery made on presentment of an Order for Delivery.
THIRD – EXPENSES; All expenses relating to the animal incurred by Heritage Place, Inc. after the hammer falls will be paid by the buyer. All accounts not paid within ten (10) days after the date of sale will result in a 3% finance fee and bear interest at the rate of eighteen percent (18%) per annum until balance is paid. All court costs, filing fees, expenses of collection (including reasonable attorney’s fees) and all expenses of insuring, maintaining, transporting or reselling any animal incurred by the consignor or Heritage Place, Inc. arising from the buyer’s default will be paid by the buyer. $100 handling fee will be charged for each returned check received by Heritage Place, Inc.
FOURTH – SALE CONDITIONS; Buyer acknowledges that this sale is subject to the Sale Conditions which are hereby incorporated by reference and contained in the sale catalog and on our website.
FIFTH – LIEN/SECURITY INTEREST; To secure the payment of the purchase price, taxes, insurance, maintenance costs and expenses for the animal on the Sale Ticket (including, without limitation, attorneys’ fee and expenses for collection incurred by Heritage Place, Inc.), together with all other indebtedness now owed or hereafter owing by the buyer to Heritage Place, Inc., the buyer hereby grants to Heritage Place, Inc. a purchase money security interest and lien in and to all of buyer’s right, title, interest and property rights, whether now owned or hereafter acquired, in and to each horse or other animal described in or covered by the Sale Ticket and all accounts, contract rights, registration papers, breeders’ certificates, records, general intangibles, proceeds and products relating thereto pursuant to the terms set forth in the Security Agreement on the back of Heritage Place, Inc.’s Order for Delivery, which terms are hereby incorporated by reference.
ALL PURCHASES MUST BE PAID AT TIME OF SALE.
PERSONAL CHECKS WILL BE ACCEPTED ONLY
IF APPROVED PRIOR TO SALE.
HORSES PURCHASED MUST BE MOVED FROM THE SALE PREMISES BY 12:00 NOON THE DAY AFTER THE SALE’S LAST SESSION.
Online Sale Conditions
FIRST – GOVERNING LAW; Heritage Place, Inc. is an Oklahoma Corporation operating as an independent contractor regularly engaged in the business of conducting consignment sales and holds no ownership interest in any of the animals. All horses in this sale are offered according to the laws of the State of Oklahoma and all transactions between the buyer, consignor and Heritage Place, Inc., will be governed by the laws of the State of Oklahoma. EXCEPT AS EXPRESSLY PROVIDED IN CONDITION SEVEN, EACH HORSE OFFERED IN THIS SALE IS SOLD AS IS AND WITH ALL DEFECTS. The right to bid, as provided under law, is reserved by all consignors. Heritage Place, Inc. reserves the right to reject any and all bids.
SECOND – BIDDING PROCEDURE; Unless waived by announcement, there shall be an upset price of $1,000 on any animal entering the sales ring. If an opening bid in the amount of the upset price is not immediately forthcoming to the auctioneer’s call, the animal shall be passed out as unsold. The highest bidder shall be the buyer. The right to bid is reserved by all consignors.
THIRD – BIDDING DISPUTES; Should any dispute arise between or among two or more bidders, the auctioneer shall forthwith adjudicate the dispute, and his decision shall be absolute, final, and binding on all parties. Bids received after the fall of the hammer are not grounds for dispute. Bids acknowledged by bid spotters employed by the undersigned are recognized as if tendered to auctioneer, but in case of dispute the bidding on the horse shall be forthwith reopened for advance bids, and if there be no advance, the horse will be sold to the person from whom the auctioneer recognized the last bid. In case of any dispute, advance bidding shall be restricted to the contending parties, but should the recognized bid be reduced below the bid of commencement of dispute, then bidding is reopened to all bidders, regardless of whether or not final bid exceeds bid which was disputed. The auctioneer reserves the right to reject any and all bids. In the event of any dispute between the buyer and the consignor, Heritage Place, Inc. will occupy the position of agent for a disclosed principal and stakeholder and will be discharged from all obligations owing to the consignor or buyer on delivery of any property or funds held by Heritage Place, Inc. to the court having jurisdiction of such dispute.
FOURTH – TITLE RISK AND DELIVERY; Title passes to purchaser at fall of hammer, at which time he assumes all risk and responsibility for the horse. PURCHASER OR HIS REPRESENTATIVE SHALL TAKE CARE, CUSTODY AND CONTROL OF THE ANIMAL IMMEDIATELY AT THE FALL OF THE HAMMER, and such taking constitutes delivery of the animal, which shall be contingent upon purchaser to make settlement. At the conclusion of bidding on each lot, the successful bidder’s credit card, unless credit is approved by Heritage Place, Inc., will be charged for the purchase price plus a 3% buyer’ fee. A Sale Ticket will be printed and will be kept with the shipment papers to be given to the person(s) you have obtained to transport the horse. After delivery, purchasers shall remove horses promptly, and be subject to stable charges as determined by undersigned, should they fail to do so. The buyer further agrees to indemnify and hold the consignor and Heritage Place, Inc. harmless from all loss, cost and expense arising from the illness, injury or death of such animal or loss or damage to property and injury or death of persons caused by the buyer, the buyer’s agents or employees or by the animal subsequent to the time of purchase.
FIFTH – TERMS FOR SETTLEMENT; MAKE SETTLEMENT WITH CASHIER OF HERITAGE PLACE INC. PAYMENT TO OTHERS, INCLUDING CONSIGNORS OR THEIR REPRESENTATIVE ARE NOT RECOGNIZED AS SETTLEMENT. At the conclusion of bidding on each lot, the successful bidder’s credit card, unless credit is approved by Heritage Place, Inc., will be charged for the purchase price plus a 3% buyer’ fee. A Sale Ticket will be printed and will be kept with the shipment papers to be given to the person(s) you have obtained to transport the horse. NEW BUYERS OR BUYERS WHO HAVE NOT PURCHASED WITHIN ONE YEAR MUST ESTABLISH BUYER VERIFICATION BEFORE PURCHASING. ALSO, ANY BUYER EXCEEDING THE AMOUNT ESTABLISHED MUST UPDATE BUYER VERIFICATION.
(See Settlement Procedures).
SIXTH – DEFAULTERS; Purchasers who fail in any respect whatsoever to pay for horses as provided for at CONDITION OF SALE FIFTH above, and/or Settlement Procedures shall be declared in default. Any horse purchased by a defaulter may be resold by the undersigned at public or private sale without notice for purchaser’s account, costs of such resale to be borne by defaulter. Should such resale fail to satisfy the defaulter’s account in full, defaulter shall pay forthwith to Heritage Place, Inc. the amount owing, failing which, the undersigned may bring suit against defaulter. THE PURCHASER SHALL BE RESPONSIBLE FOR ALL COSTS, INCLUDING ATTORNEY’S FEES, INCURRED BY HERITAGE PLACE, INC. IN COLLECTION OF AMOUNTS OWING FOR HORSES PURCHASED, OR IN ENFORCEMENT OR INTERPRETATION OF THIS CONDITION OF SALE.
SEVENTH – WARRANTIES; THERE IS NO WARRANTY, EXPRESS OR IMPLIED BY HERITAGE PLACE, INC., THE OWNER OF ANY HORSE OR THE CONSIGNOR OF ANY HORSE AS TO THE SOUNDNESS, CONDITION, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY HORSE OFFERED IN THIS SALE. ALL HORSES ARE SOLD “AS IS” WITH ALL EXISTING CONDITIONS AND DEFECTS EXCEPT AS EXPRESSLY ANNOUNCED FROM THE AUCTION STAND OR AS EXPRESSLY PROVIDED HEREIN. Horses exhibiting the following conditions at the time of sale shall be subject to return pursuant to condition Eighth below unless the condition is announced by the auctioneer at the sale: (a) any horse with impaired vision or injury to the eye; and (b) any horse which is a “cribber”. Any horse satisfying the following conditions will also be subject to return pursuant to condition Eighth below: (a) any horse sold on or after July 1 of its yearling year which is described at time of sale as a colt and does not at such time have two testes descended to the scrotum; (b) any horse described at the time of sale as a ridgling and at such time the horse is a gelding; (c) any horse described at the time of sale as a gelding and at such time the horse is a colt or a ridgling; (d) any male horse described at the time of sale as a female; (e) any female horse described at the time of sale as a male; and (f) any horse described at the time of sale as a filly or a mare and which at the time of sale has been spayed. EXCEPT FOR THE FOREGOING LIMITED WARRANTIES EACH ANIMAL IS SOLD “AS IS” WITH ALL DEFECTS AND EXISTING CONDITIONS AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED.
EIGHTH – RIGHT OF RETURN; In the event that any animal is not as represented in the Sale Catalog or on the breach of the foregoing limited warranties (as the Sale Catalog or limited warranties might be modified by announcement at the time of Sale), the buyer shall file with Heritage Place, Inc., a written notice of rejection of the animal with such supporting veterinarian’s and other certificates as Heritage Place, Inc., might require within twenty-four (24) hours after the close of the Sale session in which the animal was purchased and before the horse leaves Heritage Place, Inc. grounds. If the buyer rightfully rejects the animal in the manner and within the time provided, the animal will be returned by the buyer to the consignor and the consignor will refund to the buyer the full purchase price of the animal together with all reasonable expenses incurred by the buyer in connection with the animal from the time of sale until the return to the consignor.
NINTH – CATALOG AND ANNOUNCEMENTS; THE ACCURACY OF ALL INFORMATION OF THE CATALOG PAGE(S) IS THE SOLE RESPONSIBILITY OF THE CONSIGNOR.
Consignor shall have the affirmative duty to examine the catalog page(s), on which horses consigned by him appear, prior to sale and report any inaccuracies to Heritage Place, Inc., so that it may make an appropriate announcement at time of sale. While certain information may have been procured by undersigned from third parties on behalf of consignor, it is nonetheless solely the responsibility of consignor to verify the accuracy of such information and to notify the undersigned of any corrections prior to sale. STAKES ENGAGEMENTS, PRODUCE RECORDS (INCLUDING MULTIPLE EMBRYOS) AND ALL OTHER INFORMATION SO LISTED ARE AS REPRESENTED BY THE CONSIGNER, TO WHOM ONLY THE PURCHASER SHALL LOOK FOR REDRESS IN CASE OR ERRORS OR OMISSIONS.
TENTH – AUTHORIZED AGENTS; Persons acting as agents of absentee principals must file notarized letters of authorization from the principal stating the agent is acting in their behalf and that said principal will be responsible for the agent’s sales or purchases. These letters must be on file with Heritage Place, Inc., sales office prior to the start of the sale.
ELEVENTH – REGISTRATION; Heritage Place, Inc. will mail all registration papers directly to the appropriate registration agency, if required, after the purchase price has been paid in full. Registration papers being processed by the appropriate registration agency at the time of sale will be returned to the consignor and will be obtained by Heritage Place, Inc. and forwarded to the buyer. White markings which would affect the registration or cause the registration certificate to be revoked by the Breed Association to which this horse has applied for registration shall be subject to return to consignor by the buyer and the consignor will refund to the buyer the full purchase price of the animal together with all reasonable expenses incurred by the buyer in connection with the animal from the time of sale until the return to the consignor.
TWELFTH – Mares do not sell with right of return, unless specified.
Heritage Place, Inc.
PRIOR TO PURCHASING
ALL HORSES IN THIS SALE HAVE BEEN REQUIRED
TO HAVE BEEN TESTED NEGATIVE FOR
EQUINE INFECTIOUS ANEMIA (COGGINS TEST).
TESTS COMPLETED WITHIN SIX MONTHS OF SALE DATE.
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