'Offer Fee' means the flat fee paid by the Seller regardless of whether a Lot sells and referred to in the Consignment Agreement Form. 'Lot Number' means the number allocated by the Company to a Lot prior to auction. 'Lot' means any item or items consigned by or on behalf of the Seller to the Company with a view to its sale at auction or by private treaty and includes a V Lot. 'Insurance Fee' means the mandatory fee paid by the Seller on all sold Lots with the exception of V Lots and referred to in the Consignment Agreement Form, being 1.5% of the Hammer Price, plus GST. 'Hammer Price' means the price in Dollars (including GST, if any) at which a Lot is knocked down by the Auctioneer to the Buyer unless it is auctioned again ('Second Auction') as a result of a dispute in which event it means the price at which the Lot is knocked down by the Auctioneer to the Buyer at the Second Auction. 'GST' means a tax payable under the New Tax System (Goods and Services Tax) Act 1999 as amended. A Lot will not be a Forgery by reason of any damage to and/or restoration and/or modification work (including repairing or over painting) having been carried out on the Lot, where that damage, restoration or modification work (as the case may be) does not substantially affect the identity of the Lot as one conforming to the description of the Lot given. 'Forgery' means an imitation intended by the maker or any other person to deceive as to authorship, origin, date, age, period, provenance, culture, source or composition, which at the date of the Sale had a value materially less than it would have had if the Lot had not been such an imitation, and which is not stated to be such an imitation in the description of the Lot given in the Catalogue. 'Expenses' includes all fees, charges and expenses listed on the front page of the Consignment Agreement Form and/or correspondence annexed to it and/or as agreed in writing between the Company and the Seller. 'Estimated Selling Range' means the estimated Sale Price range of a Lot. 'Dollars' or '$' means Australian currency. 'Consignment Agreement Form' means the form signed, and a copy of which is received, by the Seller containing the terms on which the Seller submits a Lot or Lots for sale by the Company or the form used to provide a record of an item or items taken into custody for evaluation, research or advice. 'the Company' means TBA (NSW) Pty Ltd ABN 38 145 506 716 trading as Theodore Bruce Auctioneers & Valuers unless written notification to the contrary is provided. 'Claims' means all sums of money, debts, dues, suits, actions, causes of action, proceedings, arbitrations, claims, accounts, liabilities, losses, demands, costs, expenses, notices or any other type of claim howsoever arising out of these Conditions or anything relating to the subject matter of these Conditions. The relevant charges and expenses will be passed on to the Seller and/or Buyer at the price paid or payable by the Company plus 10%, or otherwise as is set out in writing or agreed by the Company and Seller and/or Buyer. 'Charges' means charges and expenses paid or payable by the Company in respect of a Lot as set out in these Conditions, including legal expenses, packing or shipping costs, taxes, levies, removal and storage charges and interest, plus any GST payable. 'Catalogue' includes any advertisement, brochure, price list and other publication produced by the Company. 'Buyer' means the person to whom a Lot is knocked down by the Auctioneer or a person who purchases a Lot sold by the Company on behalf of a Seller by private treaty or tender or any other sales process. 'Auctioneer' means the representative of the Company conducting the auction. 'Agreed Reserve' means the confidential minimum Sale Price at which a Lot may be sold as agreed in writing by Seller and the Company on the Consignment Agreement Form or otherwise. In these Conditions the following words and expressions shall (unless the context otherwise requires) have the following meanings: These Conditions apply to all sales conducted and services provided by the Company and any goods which are held by the Company for valuation, storage or any other purposes. General Conditions of Business (1 August 2014)
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