TERMS AND CONDITIONS
CONSIGNOR CONTRACT
PLEASE READ CAREFULLY BEFORE SIGNING
I enter into this contract with JACK AUCTION GROUP (JAG), from the acceptance of the horse into aforementioned sale until all of the following terms and conditions have been enacted and finalized.
1. I authorize JAG to advertise and sell the horse at public auction, to transfer title of the horse to the highest recognized bidder.
2. FEES In addition to the Entry Fee, I agree to pay JAG the sales commission of 10% (2% of which goes to Ranch Country Sale Group) of the sale price computed on the final accepted bid at the Sale or the Minimum whichever is greater or the PASS OUT FEE of $350. JAG is authorized to deduct all sums due from my proceeds and in the event of any deficiency, I agree to immediately pay JAG the balance due.
3. I understand that JAG reserves the right to: (a) determine the order of sale of all horses as set forth herein; (b) examine the horse and make such catalog corrections and announcements as JAG deems appropriate, without incurring liability to any party.
4. I agree, at the TIME OF ENTRY, to deliver to JAG the following documents in a form satisfactory with respect to the horse: (a) copy of the original certificate of registration; (b) all transfer reports and other items required to transfer registration of the horse to the buyer; (c) a letter from the stallion owner guaranteeing the stallion service certificate for any mare selling “in foal”; (d) any known genetic testing results (i.e. HYPP, etc.). I agree, PRIOR TO THE SALE, to deliver to JAG the originals of the aforementioned documents. Altered Transfers will not be accepted, any transfers found with “white-out” or appear that they have been tampered with WILL NOT be accepted. Horses can be entered and will be accepted with two-transfers, if the first transfer is accompanied with cash, satisfactory to pay for the initial transfer.
I UNDERSTAND JAG WILL WITHHOLD ANY/ALL MONIES DUE UNTIL ALL DOCUMENTS, IN A FORM SATISFACTORY, ARE DELIVERED.
5. I understand that JAG will post the sale catalog on its website and will attempt to provide to me a copy of the Sale catalog prior to the Sale date setting forth my representations and warranties with respect to the horse. I agree to review the sale catalog (posted on the website or printed) and promptly notify JAG of any corrections thereto prior to the Sale.6. SELLERS GUARANTEE: I represent and warrant to the buyer and to JAG the following; (a) the horse is sound of eyes, wind, limbs and mouth; (b) the horse is not a “cribber” or a “weaver”, or “halter-pull; (c) the sex and condition as to a stallion, gelding, ridgeling, or “proud-cut” must be accurately described in the Sale catalog; (f) that I will disclose any and all unsound conditions, defects or bad habits the horse may have.
I warrant this horse free of all defects, I fully understand the buyer has three-days from the time of the start sale to protest any defect listed above, that were not fully disclosed.
7. I understand that I AM REQUIRED TO INFORM JAG of any such aforementioned conditions at time of nomination for announcement at the sale, or face buyer’s possible refusal of the horse and forfeiture of my Entry Fee, Sales Commission and a fine of $500 if found negligent. I understand that all expenses related to the return of any horse refused under these terms is my responsibility, if the horse was found to break the sellers guarantee.
8. I agree to deliver the horse f.o.b. to the Sale location no later than 3:00 p.m. the day prior to the anticipated Sale date.
9. I agree to supply the buyer with a halter and lead rope upon completion of the sale.
10. I understand that to protect my desired sales price for the horse, I may put a Reserve Bid on said entry at time of nomination. The Reserve Bid maybe lowered, but not raised, any/all changes must be made well in advance of the horse entering the sale ring.
11. If the Reserve is not met, JAG will make an announcement from the block that the horse has been “passed–out” before leaving the auction arena.
12. I understand that PAYMENT TO CONSIGNORS will take place as follows: (a) on the 5th banking day after the day of the Sale and providing there are no disputes or unsettled claims against me; (b) JAG will begin returning papers of horses not meeting reserves one hour following the Sale, if all balances due against said horse are paid in full.
13. I agree to indemnify and hold JAG and its shareholders, auctioneers, agents, employees, contractors and representatives harmless from all claims, expenses and costs (including, without limitation) arising out of: loss or damage to property, and injury or death of persons or livestock caused directly or indirectly by me, my agents or employees.
14. I agree and acknowledge that my non-compliance with any of these sale rules allows JAG to suspend me from future sales.