b'SHANNONS AUCTIONS LIMITED VIC:LMCT 9585NSW:MD19550 ONLINE AUCTION TERMS AND CONDITIONS 2020 SHANNONS WINTER TIMED ONLINE AUCTION Shannons Auctions Limited ABN 83 099 665 497 (Shannons) conducts the Auction subject to these Online Auction Terms and Conditions.By participating in the Auction You acknowledge that You have read, understood and agree to be bound by these Online Auction Terms and Conditions.1.DEFINITIONSIn these Online Auction Terms and Conditions unless the context otherwise requires or implies: Auctioneer means Shannons or any person conducting the Auction on behalf of Shannons. Auction means a sale or prospective sale by auction of a Lot using the Online Sales System. Bidder means a person registered to bid and participate in the Auction in accordance with clause 2. Bidding Agent means a Bidder who bids or intends to bid at the Auction as agent for a principal. Business Day means Monday to Friday.Business Hours means 9:00am to 5:00pm on a Business Day.Buyers Premium means a fee equal to 5% (GST Inc) of the purchase price of the Lot, payable to Shannons by the purchaser on the final sale price of the Auction Lot. Lot means any goods or items available for purchase at the Auction.Online Sales System means the online system used by the Auctioneer to conduct the Auction. Premises means either of the Shannons Vehicle Showrooms:- MELBOURNE: 40 Corporate Drive, Heatherton, Victoria 3202 and- SYDNEY: 65 Reserve Road, St Leonards, NSW 2065Vendor means the owner of a Lot or person authorising the Auctioneer to sell the Lot on their behalf.You / Your means a Bidder, Bidding Agent, Vendor or purchaser, or any person (other than the Auctioneer) using the Online Sales System to participate in the Auction.2. REGISTRATION OF BIDDERS2.1A person must be registered to bid in the Auction.2.2A person may not bid in the Auction unless they are a registered Bidder.2.3You may apply to Shannons to become a Bidder to participate in the Auction by completingthe online application form (Application). If You will be acting as a Bidding Agent, You must identify the principal (person You act on behalf of) when completing the Application. 2.4Applications to become a Bidder close 12 hours before the Auction ends.2.5By submitting an Application You warrant to Shannons that all information provided by You to Shannons is complete and accurate.2.6Shannons may accept or reject an Application in its absolute discretion by notice to You. If Shannons accepts the Application, You become a Bidder.2.7By applying to become a Bidder, logging onto and using the Online Sales System, or making a bid in the Auction, You irrevocably submit that You have read, understood and will comply with and agree to be bound by these Online Auction Terms and Conditions.2.8If a Bidder fails to comply with these Online Auction Terms and Conditions, the Bidder agrees to reimburse Shannons for any costs, fees, charges it suffers or incurs in connection with the Bidders non-compliance.'