TERMS AND CONDITIONS OF CONSIGNMENT
Consignor hereby agrees to be bound by the following terms and conditions for participation in the IAMHA Online Auction.
IAMHA Online Auction will be held periodically as provided on the IAMHA web site.
Consignments must be received in the IAMHA Online Auction Office of the IAMHA, 2031 Greystone Drive, New Braunfels, Texas 78132, 5 business days prior to the start date of the next online auction. IAMHA Online Auction will have a “Selection Committee” to screen the consignments received. This is to ensure that the highest quality horses are presented for public auction.
Consignor authorizes the Miniature Horse Alliance, Inc. or its agent (collectively “Sale Management”) to: publish the Consignor’s horse in the official sale catalog, advertise Consignor’s horse at the discretion of the Sale Management, edit for clarity any statements made by Consignor regarding Consignor’s horse, sell consignor’s horse to the highest recognized bidder at public auction and deliver title to new owner, and receive and disburse sale proceeds on Consignor’s behalf as set forth herein.
Consignment fee - $200.00, less any membership level discounts, plus 10% commission withheld from the last bid of selling price. Each consignment must be accompanied by: Consignment fee of $200.00 less any membership level discount, a copy of Registration papers, front and back, pictures and/or videos, and other documents such as the “Reserve” you will accept for the sale of your consignment. Immediately upon acceptance to the sale, the Original Certificate of Registration and a proper transfer of ownership form, signed by owner of record at time of consignment, shall be required. The consignment fee and paperwork sent on horses that are not accepted will be returned. The consignment fee for all horses selected will be NONREFUNDABLE; the paperwork for horses not sold will be returned.
Sale will be conducted on the internet as described on the IAMHA website at www.IAMHA.net. The Reserve Bid must be provided to Sale Management 5 business days prior to the start date of the next online auction declaring the minimum price that you will accept for your horse. Should the last bid exceed the Reserve Bid, the horse will be sold to the person having the highest bid. Should the Reserve Bid exceed the last bid given, the person with the last bid shall be allowed the option to purchase the horse at the Reserve Bid price. If he does not choose to accept at the Reserve Bid price, the horse shall be passed out. If the consignment is passed from the sale as unsold, then Consignor agrees to pay a flat pass out (no sale) fee of $75.00. Registration Certificates will remain in the possession of the Sale Management until all payments have been received.
Consignor acknowledges that Sale Management reserves the right to reject a consigned horse if it appears not to be as represented in the application for consignment, if it is felt that the horse is not in proper sale condition, or if the consignment is that of a Consignor who has or is acting in a dishonorable fashion. If rejected for any of these reasons, the consignment fee shall not be returned.
Once Consignor is notified of acceptance of the horse described in the application for consignment, Consignor agrees not to dispose of horse by private sale. Withdrawals will be permitted in hardship cases, but must be presented in writing to Sale Management and be accompanied by a signed Veterinary Certificate stating that the horse has either died, received injury which hinders the horse’s marketability, or has acquired an illness which prevents the horse from meeting proper health requirements. Withdrawals made in this manner must be accompanied by withdrawal fee of $250.00 which shall be in addition to the consignment fee.
Each Consignor warrants that Consignor does have absolute and complete title to the horse so consigned and that the title of each entry is free of any and all liens and encumbrances and will defend title against all claims, adverse or otherwise.
In the event a buyer fails to pay for or accept a horse sold to Buyer, the Sales Management reserves the right to accept the same purchase amount from another person, accept the next highest bid, put the horse up for sale a second time, or retain it for the Consignor as unsold. The Sale Management, auctioneers, employees, and representatives thereof, shall not be liable for any deficit should the final bid on resale be less than that on the initial sale. Where an animal is not paid for in full (including refusal to pay, s stoppage of payment of check or draft, return of check or draft, marked “ISF”, or “no account” or the like), or should conditions make immediate resale herein provided impossible or impractical Consignor agrees to receive the animal as unsold, without any liability to the Sale Management, auctioneers, employees or representatives thereof.
Any serious irregularities or unsoundness of any kind shall be furnished to the Sale Management and the right to announce such findings is hereby granted. Violation of this clause may give the buyer the right to return any horse to the Consignor who must still pay the sale commission fee.
Sale Management does not act as agent for, or represent either the buyer or seller, but merely provides an environment for binding together buyer and seller for the purpose of sale transactions. All guarantees lie solely between the buyer and Consignor. Consignor agrees to work with the Buyer to agree on the delivery of said horse.
CONSIGNOR AGREES TO SAVE, HOLD HARMLESS, DEFEND AND INDEMNIFY INTERNATIONAL AMERICAN MINIATURE HORSE ALLIANCE, L.L.C., SALE MANAGEMENT, THEIR DIRECTORS, OFFICERS, SUCCESSORS, ASSIGNS, AGENTS AND EMPLOYEES (THE “INDEMNIFIED PARTIES”) FROM AND AGAINST ANY AND ALL LIABILITY, DEBT, CLAIMS, SUITS, LOSSES, DAMAGES, CAUSES OF ACTION, JUDGMENTS, COSTS AND EXPENSES, INCLUDING ATTORNEY FEES, ARISING OR ALLEGEDLY ARISING FROM THE IAMHA ONLINE AUCTION, PERSONAL INJURY OR DEATH OF ANY PERSON OR HORSE, INCLUDING, BUT NOT LIMITED TO, EMPLOYEES OF CONSIGNOR, PROPERTY DAMAGE, INCLUDING LOSS THEREOF, ECONOMICAL LOSS OR OTHERWISE, ARISING OR GROWING OUT OF THE CONSIGNOR’S USE OF ANY OF THE FACILITIES (ELECTRONIC OR OTHERWISE) IN CONNECTION WITH THE CONSIGNOR’S SALE DUE IN ANY MANNER TO THE NEGLIGENCE OR INTENTIONAL ACTS OF THE CONSIGNOR; ANY OF ITS EMPLOYEES, OR AGENTS IN THE PERFORMANCE OF THE CONSIGNOR’S SALE OR ANY ACT, ERROR, OMISSION OR NEGLIGENCE OF THE SALE MANAGEMENT OCCURRING CONCURRENTLY WITH THAT OF THE CONSIGNOR OR CONTRIBUTING TO ANY LOSS INDEMNIFIED HEREUNDER, EXCEPT FOR THE SOLE NEGLIGENCE OR WILLFUL MISCONDUCT OF THE INDEMNIFIED PARTIES. VENUE FOR PURPOSES HEREOF SHALL LIE IN GALVESTON COUNTY, TEXAS.
Consignor shall receive payment of sale proceeds within 7 banking days following date of sale.