Terms and Conditions

Yalelo Limited – Public Auction

  1. Obsolete stock items will be published for sale by auction on Yalelo’s online platform in lots with corresponding catalogue numbers. Yalelo reserves the right to amend, withdraw or reclassify lots prior to the close of bidding;
  2. Where applicable, reserve prices will be indicated for certain lots. No bids for these lots will be accepted which are lower than the reserve price;
  3. Yalelo employees and members of the public will be eligible to register on the online platform in order to bid once the bidding opens. Registration shall imply acceptance of these terms and conditions;
  4. Competing bids will be displayed on the platform in real-time. Bidder identities will remain anonymous to other participants;
  5. At closure of the bidding period as per the advertised notice, or any date subsequently advertised by Yalelo Limited (or any revised date subsequently communicated by Yalelo), the highest bidder will be able to make payment into the account indicated on the platform;
  6. No items will be collected without both proof of payment and reconciliation of the same by Yalelo’s Accounts Department;
  7. Yalelo shall not be liable for payments made to incorrect accounts or by methods not expressly authorised on the online platform. Only funds successfully received into the designated account appearing on the online platform shall be considered valid payment;
  8. During the period advertised potential bidders will have an opportunity to visit the Yalelo site in Siavonga or other designated location to view items at their sole cost and strictly by prior appointment, but Yalelo reserves the right to refuse entry and all potential bidders must be accompanied by authorised Yalelo personnel when on site;
  9. For any lot paid for but not collected within the period advertised (or any revised date subsequently communicated by Yalelo) the next highest bidder will have an opportunity to purchase the lot and the original bidder’s funds will be returned withing a reasonable time and no interest or other liability will accrue on the amount held by Yalelo;
  10. Yalelo will not be responsible for any amounts paid into the account where a bid has not been accepted;
  11. Yalelo reserves the right to withdraw or add any lots from the auction, postpone or cancel the auction;
  12. Yalelo also reserves the right to return any funds received for any reason, in which case no sale will take place and it shall be deemed that the bid has not been accepted;
  13. Yalelo makes no representations or warranties regarding the condition, fitness for purpose, or accuracy of descriptions of any items listed for auction. All items are sold “as is” and “where is”;
  14. In the event of any dispute over which is the final bid Yalelo shall make the final determination in the interests of fairness based on its sole discretion taking into account all surrounding facts;
  15. The auction is only open to bidders duly registered on the online platform and no bids received by any other media will be accepted;
  16. This auction and its terms shall be governed by the laws of the Republic of Zambia. Any disputes arising out of or in connection with the auction shall be subject to the exclusive jurisdiction of the courts of Zambia.