Government Auctions SA
Payment Terms
On the fall of the Auctioneer's hammer in respect of a Lot, the Purchaser of that Lot must pay to GASA a deposit of $200.00 (GST inc).
The deposit must be paid by cash, certified bank cheque, credit union corporate cheque or electronic funds transfer.
The Purchaser of a Lot must pay to GASA a Buyer's Premium in respect of that Lot, which is in addition the Lot's Sale Price. The amount of the Buyer's Premium is specified in Schedule 1 at the end of these terms and conditions. Where this amount is more than permitted by applicable law, the amount of the Buyer's Premium is the maximum allowed by applicable law.
The balance of the Purchase Price for a Lot, including the Buyer's Premium, must be paid to GASA no later than 3:30pm on the Business Day immediately following the day of the auction of that Lot, and may be paid by certified bank cheque, credit union corporate cheque or electronic funds transfer.
All bank cheques and credit union corporate cheques are to be made payable to Government Auctions SA.
Electronic funds transfers include real time gross settlements, EFTPOS or direct credit.
Electronic funds transfers are to be paid to:
Agency: SAFA - Fleet SA (Government Auctions SA)
Bank: Westpac Banking Corporation
Account name: South Australian Government Financing Authority (SAFA) - Fleet SA
BSB Number: 035-502
Account Number: 200387
Payment description: GASA – (Purchaser's bidder number AND Auction Number).
In the case of payment of the balance of the Purchase Price for a Lot by electronic funds transfer, payment must appear on GASA's bank statement by 3.30 pm on the Business Day immediately following the day of the auction of that Lot. Any payment not appearing at this time is deemed to be late.
Upon receiving payment of the balance of the Purchase Price for a Lot, GASA will issue a final receipt to the Purchaser evidencing full payment has been made of the Purchase Price for that Lot.
No refunds or adjustments will be given.
