Driving Directions

TERMS & CONDITIONS OF SALE

It is agreed that

A. Interpretation

I) In this agreement, unless otherwise indicated by the context:

1.1.1. Auction” means any auction conducted by or on behalf of Pawn Express.

1.1.2. “Auctioneer” means the licensed auctioneer appointed to conduct the Auction.

1.1.3. “Bidder” means any person registered to participate in the Auction.

1.1.4. “Buyer” means the Successful Bidder whose bid is accepted by the Auctioneer.

1.1.5. “Seller” means Lanny Capital (Pty) Ltd t/a Pawn Express.

1.1.6. “Vehicle” means any motor vehicle offered for sale at the Auction.

II) Words denoting the singular include the plural and words denoting a particular gender include the other genders.

III) Headings are for convenience only and do not affect interpretation.

1. ENTIRE AGREEMENT AND LEGAL STATUS

1.1 These Terms and Conditions of Sale (“Terms”) constitute the entire, sole, and exclusive agreement of sale between Pawn Express (Pty) Ltd (“the Seller”) and the successful bidder (“the Buyer”).

1.2 No other agreement, sale report, acknowledgment, invoice, oral statement, correspondence, or document shall create, supplement, vary, or supersede these Terms.

1.3 The Buyer expressly acknowledges that no separate written sale agreement shall be issued or required and irrevocably waives any right to allege that the absence of a post-auction signature affects the validity or enforceability of the sale.

2. FORMATION AND FINALITY OF SALE

2.1 This valid, binding, and enforceable contract of sale shall arise solely and automatically upon acceptance of a bid by the Auctioneer, as evidenced by the fall of the hammer or equivalent declaration by the Auctioneer.

2.2 Upon such acceptance, the Buyer shall be irrevocably and unconditionally bound to the purchase, without right of withdrawal, cancellation, or variation.

2.3 The Auctioneer's declaration of the successful bid shall be final, conclusive, and not subject to challenge, save on grounds of manifest error.

3. PRE-CONTRACTUAL ACKNOWLEDGEMENTS

3.1 The Buyer warrants and acknowledges that:

it has registered as a bidder and accepted these Terms prior to bidding;
it has not relied on any representation not expressly recorded herein;
it has had adequate opportunity to inspect the Vehicle and obtain independent advice.

3.2 The Buyer expressly waives any right to claim mistake, misrepresentation, non-disclosure, or error in relation to the sale, save as expressly provided by law.

4. PURCHASE PRICE AND PAYMENT OBLIGATIONS

4.1 The purchase price shall be the amount of the highest bid accepted.

4.2 Payment shall be made strictly by electronic funds transfer (EFT) into the Seller's designated bank account.

4.3 Cash payments, third-party payments, agent payments, or nominee payments are prohibited and shall not constitute valid performance.

4.4 Payment shall be made immediately upon conclusion of the Auction, failing which the Buyer shall be in material breach without further notice.

5. BIDDER DEPOSIT

5.1 A bidder deposit is a mandatory condition of participation.

5.2 The deposit shall be refundable only to unsuccessful bidders.

5.3 Upon breach by the Buyer, the deposit shall be automatically and irrevocably forfeited, such forfeiture constituting a genuine pre-estimate of damages and not a penalty.

5.4 Forfeiture shall be without prejudice to the Seller's right to claim further damages.

6. ANTI-MONEY LAUNDERING AND KYC COMPLIANCE

6.1 The Buyer acknowledges that the Seller is a reporting institution under the Financial Intelligence Act, 2022.

6.2 The Buyer shall, upon demand, furnish any documentation or information required to satisfy customer due diligence, enhanced due diligence, or source-of-funds verification.

6.3 Failure to comply shall entitle the Seller, in its sole discretion, to cancel the sale, forfeit the deposit, and report the matter to the relevant authorities.

7. CONDITION OF VEHICLE (VOETSTOOTS)

7.1 Each Vehicle is sold voetstoots, in its existing condition, with all faults, defects, and deficiencies, whether patent or latent.

7.2 All warranties, conditions, and representations, whether express, implied, statutory, or otherwise, are hereby excluded to the fullest extent permitted by law, including warranties of being fit for sale, roadworthiness, and fitness for purpose.

7.3 The Buyer accepts the Vehicle entirely at he/she/its own risk.

8. RISK, OWNERSHIP, AND LIABILITY

8.1. Risk in and to the vehicle shall pass to the Buyer upon conclusion of the sale, being upon acceptance of the bid by the Auctioneer, notwithstanding that ownership, registration, licensing, delivery, or release of the vehicle may not yet have occurred.

8.2. Where the Seller retains possession of the vehicle pending payment, compliance verification, or administrative processing, the Seller shall be deemed to hold the vehicle solely as custodian and shall exercise reasonable care, but shall not be liable for loss or damage save for loss or damage arising from the Seller's gross negligence or wilful misconduct.

8.3. The Buyer acknowledges that the Seller does not insure the vehicle for the Buyer's benefit after conclusion of the sale and that any loss or damage occurring thereafter shall be for the Buyer's account.

9. COLLECTION AND STORAGE

9.1 Release of the Vehicle is conditional upon:

receipt of full cleared funds; and
full AML/KYC compliance.

9.2 The Buyer shall collect the Vehicle within twenty-four (24) hours of payment clearance.

9.3 The Seller may levy storage charges and exercise a lien pending collection.

10. TRANSFER OF OWNERSHIP (BLUE BOOK)

10.1. Ownership in the vehicle shall pass to the Buyer only upon receipt of full cleared funds.

10.2. The Buyer acknowledges and agrees that the Seller shall process the change of ownership of the vehicle at the Department of Road Transport and Safety on the Buyer's behalf, in accordance with the Auction Rules.

10.3. A mandatory administration fee of P190 shall be payable by the Buyer for processing the change of ownership. This fee is non-refundable and payable together with the purchase price.

10.4. The Buyer shall provide all information, documentation, and signatures reasonably required to effect the change of ownership.

10.5. Failure or refusal by the Buyer to cooperate shall not suspend or extinguish the Buyer's obligations and shall constitute a material breach entitling the Seller to withhold release of the vehicle, cancel the sale, forfeit any deposit, and/or re-sell the vehicle without further notice.

11. BREACH AND RE-SALE

11.1 Upon breach of any of the terms herein, the Seller may, without notice:

cancel the sale;
retain the deposit;
re-sell the Vehicle on such terms as it deems fit; and
recover any shortfall from the Buyer as a liquidated debt.

11.2 The Buyer shall have no claim arising from any re-sale.

12. FINALITY OF SALE

12.1 All sales through auction are final and irreversible.

12.2 No cooling-off period, cancellation, return, or refund shall apply.

13. EVIDENCE AND RECORDS

The Buyer agrees that:

bidder registration records,
auctioneer records,
payment confirmations, and
audio-visual recordings

shall constitute conclusive or prima facie evidence of the sale and its terms.

14. INDEMNITY

The Buyer indemnifies and holds the Seller harmless against all claims, losses, liabilities, penalties, and expenses arising from possession, use, or disposal of the Vehicle after conclusion of the sale.

15. CESSION AND ASSIGNMENT OF RIGHTS

The Buyer shall not be entitled to assign, cede or make over its obligations he has in this agreement during the currency of this agreement.

16. GOVERNING LAW AND JURISDICTION

16.1 This agreement shall be governed and construed in accordance with the laws of Botswana.

16.2 The provisions hereof constitute the whole agreement between the parties and no representation not herein contained shall in any way influence this agreement.

16.3 No amendment or variation of the terms and conditions of this agreement shall be binding on the parties unless reduced to writing and signed by both parties with such written amendment or variation being approved and signed by four (4) people being the Seller's Lending Department, Compliance Department, General Manager and Accounts Department on the Seller's part.

16.4 There shall be no liability on the part of the Seller arising from any warranties about the Motor vehicle, or variation or amendments of the terms and conditions of this Agreement, that are made by an agent or employee of the Seller in a manner that is inconsistent with the one set out in Clause 16.2 above.

16.5 No indulgence which either party may show to the other in the observance of the terms of this agreement shall in any way prejudice the aggrieved party's rights or be construed as a waiver or novation of same by the aggrieved party.