Welcome to the City Coins CC Internet web site ("the site"). The site is owned by City
Coins CC and is hosted and managed in the Republic of South Africa.
This agreement is a legal agreement between any person who registers on or uses the site ("user"
or "you") and City Coins CC, a company registered in accordance with the laws
of the Republic of South Africa, registration number CK( 87/05687/23 )
of Ground Floor, Pearl House, Tulbagh Square, Foreshore, Cape Town 8001 ("City
Coins", "us" or "we") and contains the Terms and Conditions under which you
may use the site and/or participate in any auction and/or make any purchases
or Conditions, to the exclusion of all others. If you do not agree to be bound
by these Terms and Conditions you must not continue. Your access, registration
or use of the site constitutes your unconditional and irrevocable acceptance
of these Terms and register or use the site.
WITHOUT LIMITATION TO THE FOREGOING, WHEN YOU CHOOSE THE CONTINUE, YOU AGREE
TO BE BOUND BY THESE TERMS AND CONDITIONS INCLUDING ALL SPECIAL NOTICES, THE
PRIVACY AND SECURITY POLICY AND ALL OTHER POLICIES PROCECURES AND GUIDELINES
INCORPORATED HEREIN BY REFERENCE (TOGETHER THE "AGREEMENT").
The terms and conditions set forth in this Agreement may be changed by City Coins
in the future. Any changes to the Agreement will be effective immediately upon
such changes being posted on the site, the posting date for these conditions
being January 2001.
To use the site you must have full contractual capacity and by your registration
and use of the site you warrant that you have full contractual capacity.
| 1. |
SERVICES OFFERED
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1.1 |
The main business conducted on the site includes:
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1.1.1 |
online auctions conducted by and under the control of City Coins,
acting as auctioneer and agent for sellers ("City Coins auctions");
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1.1.2 |
online classified advertisements of coins, antiques and other memorabilia
("classifieds").
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1.2 |
The abovementioned services are only available and offered
to registered users. If you wish to register refer to clause 2 and complete the
Registration Section. To be able to register you
must be lawfully entitled to enter into and form contracts and you are required
to provide your real name, telephone, and, if applicable, fax numbers, e-mail
address and other requested information.
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1.3 |
We may from time to time change or add to the services provided on the
site in our sole and absolute discretion and without any liability to any user.
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1.4 |
For further information on conduct of a City Coins auction refer to
clause 3.
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1.5 |
For information on classified advertisements refer to clause 12.
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| 2. |
REGISTRATION
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2.1 |
To use this site you must first register by completing the registration
section.
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2.2 |
To register you must complete and provide the information under
the Registration Section . You warrant that the particulars given to
us are true and correct.
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2.3 |
During the registration process you will be required to choose
a user identity and password. Keep your password private and confidential to
prevent unauthorised use.
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2.4 |
Should you forget or lose your password please contact City Coins immediately.
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2.5 |
City Coins will not be liable to you for any loss or damage arising from
your failure to keep your password confidential or for any unauthorised use
prior to you notifying us in writing that your password has become known to
any other person.
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2.6 |
Your registration will be confirmed and you will be sent a welcome letter via e-mail.
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2.7 |
You will be required to enter your user identity and password each time you visit the site.
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| 3. |
CITY COINS AUCTION PROCEDURE AND BIDDING PROCESS
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3.1 |
The site provides a 'venue' for an electronic auction to take place ('the
auction") and for buyers ("the buyer" or "the bidder") to bid for goods ("the
goods" or "the lot") for the duration of that auction.
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3.2 |
City Coins acts as an agent for the seller of the goods listed on the
site (except where we are stated wholly or partly to own any lot as principal)
and are therefore not responsible, nor can we be held liable, for any default
by the seller or the buyer.
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3.3 |
City Coins shall act as agent and auctioneer in respect only of
goods which have been placed under the control and custody of City Coins prior
to the commencement of the online auction.
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3.4 |
City Coins reserves the right to:
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3.4.1 |
prevent any bidder from participating in the auction; |
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3.4.2 |
reject any bid; |
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3.4.3 |
determine the opening price; |
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3.4.4 |
set a reserve price for any items; |
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3.4.5 |
set bidding increments; |
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3.4.6 |
withdraw any lot; and |
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3.4.7 |
bid on behalf of City Coins; |
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3.5 |
The seller shall not be entitled to bid on his own lot, whether directly
or indirectly.
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3.6 |
Prices quoted against each lot are estimates in South African Rands and
all bids must be made in South African Rands.
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3.7 |
City Coins shall be entitled to place a reserve against any auction
item. The reserve shall be a confidential minimum price agreed as between City
Coins and the seller. If the reserve is not met the item shall be withdrawn
from the auction.
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3.8 |
The reserve estimated price or price range is merely an indication
by the seller or by City Coins of the price expected to be achieved at the auction.
Price estimates represent the sellers or City Coins best judgment based on a
number of factors including examination of the object and information available
to the seller or City Coins on comparable prices. Accordingly estimates are
not any guarantee or representation as to the price which will actually be received.
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3.9 |
The successful bidder is the person who places the highest bid
on the lot. In the case of identical bids or bids separated by less than one
bidding increment, the earliest bid received by City Coins will win. You hereby
acknowledge and agree that bidding on a lot constitutes an irrevocable offer
to buy the lot at the bid price.
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3.10 |
If you are bidding as agent for another party you hereby personally guarantee
payment to City Coins, or the seller, as the case may, of the full purchase price.
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| 4. |
CITY COINS AUCTIONS : AUTHENTICITY/GUARANTEES AND LIMITATION
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4.1 |
It is a condition of this site that the sale of any item thereon by a
seller shall be subject to the following specific warranties being given by
the seller namely:
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4.1.1 |
that the description of an item's physical condition is substantially correct; and
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4.1.2 |
that the item is, to the best of the seller's knowledge and belief an authentic item and not a counterfeit.
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4.2 |
The foregoing warranties shall apply and shall subsist for a period of
six (6) months from the date on which the auction on the specific item closes
on the site.
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4.3 |
Save as set out above all items on the site shall be sold on an
"as is" basis and neither City Coins nor the seller make any representations
or give any warranties or undertakings, express or implied (whether in terms
of this agreement or any statutory provision applicable) to any buyer with respect
to the item, including without limitation, its suitability, fitness for purpose,
state and condition, quality, rarity, importance, historic relevance or significance
or otherwise. No statement whether oral or written shall be deemed to constitute
a warranty or representation.
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4.4 |
No representations or warranties are given to entitle the buyer to reproduce any items acquired on the site.
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4.5 |
No representations or warranties are given as to the right of
the seller or the buyer to export or import any item and each party shall be
responsible for ensuring that all valid import and/or export or other permits
have been obtained. In particulars users are required to note that items which
may have cultural or artistic significance may require special permission or
permits prior to their export and/or such items may also be subject to governmental
rights of acquisition or compulsory purchase.
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4.6 |
Any statements on this site or representations made relating to
current governmental practice in relation to items of historic, artistic or
similar nature are given for information purposes only and not as advice and
accordingly a buyer or seller must take independent advice in relation thereto.
City Coins shall not be liable for any reliance by any third party on such information
or advice.
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4.7 |
Whilst reasonable efforts are made to ensure the accuracy or description
of the lots listed on the site no warranty, express or implied, is given by
City Coins as to the authenticity, attribution, genuineness, origin, age, condition
or quality of the goods. Any description of the goods which may be provided
by City Coins merely represents the opinion [client should note that this
opinion may be assessed as that of an expert in the industry and not merely
the average person] of City Coins and is not to be regarded as, nor be taken
to imply, a statement or representation of fact.
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| 5. |
PURCHASE PRICE, COMMISSION AND PAYMENT
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5.1 |
A buyer may effect payment for the goods in one of the following ways:
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5.1.1 |
any valid MasterCard, Visa, American Express or Diners Club card;
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5.1.2 |
cheque;
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5.1.3 |
direct transfer; or
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5.1.4 |
bank draft (recommend the SWIFT TRANSFER METHOD. Kindly ask your bank for details.)
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5.2 |
Our bank account details are as follows:
SBZA ZA JJ
The Standard Bank of South Africa Limited
Thibault Square
Cape Town, South Africa
City Coins account number 070948011.
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5.3 |
To pay by credit card you must supply your credit card number
on a secure page only when you checkout, as your credit card number is not stored
anywhere for security reasons. City Coin's secure server encrypts your credit
card information so as to minimise the risk of unauthorised disclosure or interception.
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5.4 |
By submitting your bid and credit card details you warrant that you are
authorised to make payment with the card and that there are sufficient funds
available to pay the order.
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5.5 |
At the termination of the auction, the highest bidder (or in the case
of identical bids, or bids separated by less than one bidding increment being
the earliest bid received by City Coins) for each lot shall be the buyer of
that lot. City Coins shall determine which bid was received earliest and its
certificate thereon shall be prima facie proof thereof.
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5.6 |
The buyer shall pay commission to City Coins at a rate of 12.5%
of the purchase price exclusive of Value Added Tax ("VAT") and/or any other
sales related taxes applicable from time to time. In the case of any buyer
making a purchase while resident in South Africa such purchase shall be subject
to VAT at the prevailing rate (currently 14%) based on the commission fee payable
to City Coins.
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5.7 |
If the seller is a trader in coins and other items sold on behalf of
the seller on the site from time to time and the seller is registered and/or
required to charge VAT in respect of the item being sold, VAT or the sales tax
concerned shall also be charged to the buyer on the purchase price of the goods.
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5.8 |
Bank clearance charges (where applicable) and the cost of insurance,
shipping and/or postage and/or courier charges will be added to the amount and
such amounts shall be payable by the buyer.
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5.9 |
The successful bidder will be notified by e-mail sent to their
chosen e-mail address as soon as possible after the acceptance of their bid,
but no later than 24 (twenty-four) hours after the termination of the auction
period as determined by City Coins from time to time and displayed on the site.
An invoice will accompany this notification. Except in the case of payment
by credit card, in which case the amount payable will be deducted from your
account immediately, payment is strictly to be made no later than 14 (fourteen)
calendar days from the date of invoice.
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5.10 |
A late fee of 2 (two) percent of the purchase price or R75.00 (whichever
is the greater) will be charged on invoices not settled within 14 (fourteen)
days of the date on which the notification together with invoice was sent to
you.
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5.11 |
In addition, any amount falling due for payment in terms of this Agreement
and not being paid within the prescribed period by you, shall bear interest
at 2 (two) percent above the prime annual bank overdraft rate charged by the
Standard Bank of South Africa from time to time, calculated from the due date
for payment thereof or, in the case of any amount payable by way of damages,
with effect on and as from the date upon which those damages are sustained.
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5.12 |
Should you fail to make payment within 14 (fourteen) days of receiving
the invoice you will be regarded as being in breach of contract and City Coins
reserves the right to cancel the sale and without prejudice to any other rights
to resell the goods. You acknowledge that City Coins may suffer damages as
a result of your breach and apart from any other remedy that City Coins may
have at law you agree to pay to City Coins the difference between the resale
price and your bid price.
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5.13 |
Any amounts due from City Coins to the seller or, if applicable
the buyer, shall be paid by cheque or by direct electronic transfer to such
account and bank as the seller or buyer (as the case may be) shall stipulate.
City Coins shall not be liable to the seller or the buyer, as the case may be,
if it transmits payment according to instructions provided by the relevant parties
and such party does not receive the payment. In such cases City Coins shall
endeavour (but not be obliged) to retrieve any payments erroneously transferred
but City Coins will not have any further liability or obligation for such payments
if it is unable to retrieve or recoup the same.
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5.14 |
The seller shall be responsible for valid chargebacks to the buyer's
credit card, plus any amounts paid by City Coins in connection with such chargebacks,
due to fraud, dissatisfaction or otherwise. City Coins shall be entitled to
set-off any chargebacks against any payments made to any seller for lots sold
by such seller on the site.
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| 6. |
DELIVERY
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6.1 |
Once City Coins has received payment, the item(s) will be despatched
by ship and/or courier and/or registered post, at the buyer's risk, unless otherwise
agreed in writing by the parties.
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6.2 |
The buyer shall also be obliged to pay any costs of export and import
including, without limitation, any statutory or customs duties or fees and any
costs for permits and consents.
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6.3 |
City Coins and the seller will not be responsible for the acts
or omissions of any carrier or packer of purchased lots. Packing and handling
of lots shall be at the risk of the buyer.
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6.4 |
City Coins have arranged for the shipment of goods with their shipping
agents and details of the shipping agents and the current shipping costs are
set out in the section Delivery Costs.
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6.5 |
The goods will be delivered to the address provided by you in
the registration process. If the goods are to be delivered to an address other
than that stated in the registration, the goods shall be delivered to the alternative
address at the risk of the buyer.
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6.6 |
Any person other than yourself who receives the goods at the address
is conclusively presumed to be authorised to accept delivery on your behalf.
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6.7 |
All risk in and to the goods will pass to the buyer upon conclusion of the sale.
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| 7. |
INSURANCE
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7.1 |
If the buyer requires the goods to be shipped insured, the buyer is required
to notify City Coins of the same at the time of submitting its bid by completing
the relevant prompt headed Insurance.
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7.2 |
City Coins shall insure the goods for delivery at the buyer's cost and
such cost shall be specified on the invoice submitted to the buyer on conclusion of the sale.
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7.3 |
In the event that the insurers should increase the cost of insurance
for whatever reason any such increase shall be borne by the buyer.
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7.4 |
Neither the seller nor City Coins make any representations or give any
warranties in relation to the conditions of insurance and the buyer takes subject
to such conditions and/or any exclusions or limitations contained or stipulated
by the insurer in its policy.
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| 8. |
RETURNS
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8.1 |
If within five (5) days after the buyer's receipt of the goods,
City Coins receives from the buyer of any lot notice in writing that in his
view the lot has been misdescribed, and within fourteen (14) days after such
notification the buyer returns it to City Coins (at the expense of the buyer)
in the same condition as at the time of sale and by producing evidence satisfies
City Coins that, considered in the light of the entry on the site, the lot has
in fact been misdescribed and further that the buyer is able to transfer ownership
to City Coins or the Seller, as the case may be, free from any third party claims,
then and provided that the buyers claim is in the determination of City Coins
valid, the sale of the lot will be rescinded and the purchase price refunded.
Lots examined prior to the close of the auction by the successful bidder may
not be returned on the basis of misdescription. The seller and the buyer agree
to be bound by City Coin's decision.
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8.2 |
In the event that a sale is rescinded by virtue of the misdescription,
as aforesaid, the buyer warrants that the return of the relevant goods shall
be free from any third party claims or demands and the seller and/or City Coins
shall be fully indemnified from an against any such claims, demands, losses
or liabilities as a result of any such claims.
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8.3 |
The seller further undertakes to provide a full refund to the buyer and,
to the extent that City Coins has already remitted to the seller the amounts
due to him in terms of the sale, the seller shall promptly remit to City Coins
the entire amount received and City Coins in turn shall remit to the buyer the
said amount together with any amounts received by City Coins by way of its buyer's
commission. Notwithstanding the aforegoing City Coins shall be entitled to collect
any sums due from the seller in terms of this clause, by withholding settlement
on other lots sold on behalf of the seller or by invoicing the seller directly
for such amount, in which case payment shall be made to City Coins within seven
(7) days following receipt of the said invoice.
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8.4 |
In the event that the seller should fail to refund or remit any of the
said amounts due in respect of a valid return of goods and subject to City Coins
remitting the buyer's premium or commission to the buyer, City Coins shall not
have any liability of whatsoever nature by reason of the seller's failure to
remit the amounts received by him.
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8.5 |
Any rescission of a sale shall not in any way prejudice any right of
the buyer to recover from the seller any amounts previously paid together with
damages and/or interest on such amounts.
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8.6 |
Neither the seller nor City Coins, its members, agents and/or employees
is responsible for errors of description or for the authenticity of any lot.
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| 9. |
OWNERSHIP
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Ownership of the goods will pass to the buyer upon receipt
by City Coins or the seller, as the case may be, of payment of the full price
in respect of the lot.
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| 10. |
WITHDRAWAL OF A BID
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10.1 |
A bid submitted on the site shall constitute an irrevocable offer by
the buyer to purchase the goods at the price or bid submitted by the buyer and
on the terms and conditions of this agreement.
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10.2 |
No bid may be withdrawn except in circumstances
such as an obvious typographical error or a material change to the lot listed.
It is in the sole and exclusive discretion of City Coins to decide in what circumstances,
and whether or not any bid may be withdrawn.
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| 11. |
DURATION OF AUCTION
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The commencement and termination of each auction will be determined by City Coins
and will be displayed on the site at all times.
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| 12. |
CLASSIFIED ADVERTISEMENTS
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12.1 |
If you wish to display an advertisement on the site, go to the section
"site advertising", from there you can contact us to book a desired campaign.
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12.2 |
City Coins may display advertisements for the sale of goods ("the advertisement")
on the site subject to the following:
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12.2.1 |
in consideration for the display of the advertisement you shall pay a
fee (determined in accordance with City Coins' rate card for the display of
advertisements on the site) to City Coins;
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12.2.2 |
the advertising fee payable shall be based on the duration of the advertisement,
which duration shall be completed at the time of booking the advertisement;
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12.2.3 |
should your goods be sold at any time prior to the end of the agreed
duration for the advertisement for which you have paid, you will not be refunded
a pro-rata portion of the fee;
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12.2.4 |
all amounts payable shall be free of deduction and set-off and shall
be paid to City Coins within five (5) days following the booking of the advertisement;
and
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12.2.5 |
any amount which is overdue for payment by you pursuant to this provision
shall bear interest at 2 (two) percent above the prime annual bank overdraft
rate charged by the Standard Bank of South Africa from time to time, calculated
from the due date for payment thereof.
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12.3 |
You indemnify City Coins in respect of loss incurred of whatsoever nature
(be it actual, consequential or otherwise) and howsoever arising in respect of:
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12.3.1 |
the inaccuracy or incompleteness of the advertisement;
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12.3.2 |
the infringement of any copyright, trade mark, patent or any other right
arising from or in connection with the display of the advertisement; and
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12.3.3 |
any claim by any other user, seller, buyer or any third party as a consequence
of the inability and/or lack of capacity of buyers to buy goods, of sellers
to sell goods and the inaccuracy or falseness of information provided by prospective
buyers or sellers.
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12.4 |
You hereby warrant that the information you provide which pertains to
the advertisement is true and accurate and that you are the owner of the goods
and are legally entitled to transfer ownership to the buyer.
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12.5 |
You shall inform City Coins immediately that the goods are sold so that
the advertisement may be removed from the site.
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12.6 |
It is specifically recorded herein that City Coins makes no representation
or warranty as to the authenticity, quality and condition of any advertised goods.
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12.7 |
In respect of goods advertised in terms of this provision City Coins
does not act as an agent for any user, the seller or the buyer.
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| 13. |
CANCELLATION OF REGISTRATION
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You may request your registration to be cancelled at any time. However, City Coins,
will not process this request for any bidder currently holding the highest bid
on an auction until such time as you lose status as the highest bidder. Should
you become the successful bidder you will bound by the terms and conditions
of this agreement and your registration will not be cancelled until such time
as you have no remaining obligations in terms of this agreement.
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| 14. |
LIMITATION OF LIABILITY
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14.1 |
City Coins shall under no circumstances whatsoever, including as a result
of City Coin's negligent (including grossly negligent) acts or omissions or
those of its directors, members, employees, agents or other persons for whom
in law it may be liable (in whose favour this constitutes a stipulatio alteri),
be liable for any direct, indirect, incidental, special or consequential loss
or damage of any kind whatsoever or howsoever caused (whether arising under
contract, delict or otherwise and whether the loss was actually foreseen or
reasonably foreseeable), sustained by you arising from the use of the site.
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14.2 |
City Coins, its directors, members, employers, agents, representatives,
affiliates and suppliers shall not be liable for any loss, damage (whether direct,
indirect or consequential) or expense of any nature whatsoever which may be
suffered as a result of or which may be attributable, directly or indirectly,
to the use of or reliance upon the site (including any information contained
thereon) or the Internet.
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14.3 |
Notwithstanding any provision to the contrary contained in these Terms
and Conditions and without limitation or prejudice to any other limitations
or exclusions of liability, City Coins aggregate liability to you shall in no
circumstances whatsoever exceed the purchase price, without interest, paid by
the buyer for the goods.
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| 15. |
INTELLECTUAL PROPERTY
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15.1 |
City Coins retains all copyright in all material, including logos and
other graphics which form part of the site, save in respect of those trademarks,
trade names and logos owned by others.
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15.2 |
City Coins grants you permission to view, electronically copy
and print in hard copy portions of the site, in order to use the site, for your
personal use only. Any other use of materials on the site, including a reproduction
for purposes other than those noted above, modification, distribution or reproduction,
without the prior written consent of City Coins and the lawful trademark and/or
copyright owner (if applicable) is strictly prohibited and constitutes an unlawful
infringement of the intellectual property rights of City Coins and/or such trademark
and/or copyright owner.
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15.3 |
External hyperlinks may be provided on the site. You shall not
interpret such hyperlinking as constituting any relationship between City Coins
and any linked third party or any endorsement by City Coins of such third party
and use of or reliance on any external links provided is at your own risk.
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15.4 |
Advertising and other promotional material will appear on the
site from time to time. You shall not interpret such advertising or promotional
material as constituting any relationship between City Coins and any third party
placing such advertising or promotional material on the site or any endorsement
by City Coins of such third party and use of or reliance on any such material
is entirely at your own risk.
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15.5 |
The content contained on the site may be used by you for your own personal,
non-commercial use and information purposes only.
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| 16. |
NO WARRANTY
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16.1 |
You expressly agree that use of the site or the Internet is entirely
at your own risk. The site and its contents are provided on an "as is" and
"as available" basis and City Coins makes no representations or warranties of
any kind, whether express or implied, with respect to the site or its contents
or with respect to any information, services and goods provided through or in
connection with the site. City Coins disclaims all representations and warranties,
including but not limited to warranties as to the availability, accuracy or
content of information, products or services, and warranties of merchantability
or fitness for a particular purpose of information, goods or services.
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16.2 |
City Coins does not warrant that the functions provided by the site will
be uninterrupted or error free, or that the site or the server that makes it
available are free from viruses or other harmful components.
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| 17. |
GENERAL
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17.1 |
From time to time City Coins may vary the Terms and Conditions.
Any such variation will become effective on the date upon which they are first
published on the site. Each time you access this site, and particularly before
each auction, please check the Terms and Conditions. Should you use the site
at any time after such changes, you shall be deemed to have accepted such amended
Terms and Conditions. If you do not agree to any amended Terms and Conditions,
do not use the site. You will, in addition, receive an e-mail notification
of changes to the Terms and Conditions.
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17.2 |
City Coins reserves the rights to suspend or terminate your use of the
site for any reason with or without notice to you.
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17.3 |
City Coins shall not be responsible for any breach of this agreement caused by circumstances beyond its control.
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17.4 |
If any provisions (or part thereof) contained in the Terms and Conditions
is invalid, illegal or unenforceable in any respect, the validity, legality
or enforceability of the remaining provisions (or part thereof) contained herein
shall not in any way be effected or impaired thereby.
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17.5 |
These Terms and Conditions shall be binding on and enforceable by the
estates, heirs, executors, administrators, trustees or liquidators of the parties
as fully and effectually as if they had been party to these Terms and Conditions
in the first instance and reference to any person shall be deemed to include
such person's estate, heirs, executors, administrators, trustees, liquidators,
as the case may be.
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17.6 |
This agreement constitutes the whole agreement between the parties relating to the subject matter hereof.
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17.7 |
Your use of the site, the Terms and Conditions (including, without limitation,
their acceptance, interpretation and applicability) and any matter relating
or incidental thereto shall be governed by the laws of the republic of South
Africa excluding any conflict of law principles that invoke the application
of any other foreign laws.
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17.8 |
You expressly agree and irrevocably and unconditionally submit
to the exclusive jurisdiction of the Cape of Good Hope division of the High
Court of the republic of South Africa in respect of all disputes arising hereunder
or in connection with the subject matter hereof. In any such action you hereby
waive any right to an alleged lack of personal jurisdiction, improper venue
or inconvenient forum. You agree that any order of such court may be enforced
and made an order of court, without limitation, in any country, state, province
or area in which you reside or in which you use the site.
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17.9 |
At the option of City Coins, any dispute arising out of the agreement
may be brought in any Magistrates' Court of competent jurisdiction notwithstanding
that the amount in issue may exceed the jurisdiction of such court.
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17.10 |
The laws of the Republic of South Africa govern this agreement.
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