Online Parts International Catalogue System
The Auction Pages
Special Conditions for Auction Participants
Submitting any form on this site constitutes acceptance of these terms.
Rules of Auction
Company Name: Parts-Ring (Pty) Ltd
Company Registration: 2024/381751/07
Physical Address: 21 Kine Park Crescent, Morgenster, Brackenfell, 7560
1. Nature of the Auction
Agency Relationship: Parts-Ring (Pty) Ltd (the “Auctioneer”) acts strictly as an agent on behalf of the Seller. The contract of sale is concluded between the Seller and the Buyer.
Compliance: This auction is conducted in accordance with Section 45 of the Consumer Protection Act, No. 68 of 2008 and its Regulations.
Type of Auction: Unless otherwise stated on the lot description, all auctions are “With Reserve,” meaning the Seller or Auctioneer may withdraw the lot if the reserve price is not met.
2. Registration Requirements
Relevant bidder registration form found here.
FICA & Identification: In accordance with Regulation 26 & 30, every bidder must register before participating. You must provide:
Full Name and ID/Passport Number.
Physical Address and Internet Protocol (IP) Address.
Contact Details.
Bidding on behalf of another: If you are bidding for a company, you must upload a letter of authority on the company letterhead and a certified copy of a resolution authorizing you to bid.
3. The Bidding Process
The “Hammer”: An electronic auction is complete when the portal’s timer hits zero or the “Sold” notification is triggered. This constitutes the “fall of the hammer” as per Section 45(3).
Retracting Bids: Once a bid is placed on the portal, it cannot be retracted unless the Auctioneer determines a manifest error has occurred.
Vendor’s Roll: A record of all bids, bidders, and sale prices will be maintained by Parts-Ring (Pty) Ltd as required by law.
4. Financials & Commission
Buyer’s Premium: A commission of [X]% will be charged on the hammer price.
VAT Note: Parts-Ring (Pty) Ltd is currently not a VAT vendor. Therefore, no VAT is charged on the commission/service fee.
Payment: The full purchase price plus the commission must be paid into the designated account within [e.g., 48 hours] of the auction closing.
5. Goods Sold "As Is" (Voetstoots)
Exclusion of Warranty: As per Section 55(1) of the CPA, goods sold at auction are excluded from the standard “right to safe, high-quality goods.” All parts are sold “voetstoots” (as they stand).
Inspection: Bidders are responsible for reviewing all photos and descriptions provided on the portal before placing a bid.
- As Is Condition: The buyer agrees to purchase the item in its existing state, effectively “shoving it with their foot” (the literal Dutch translation) to test it before buying.
- Patent Defects: These are visible flaws (e.g., a broken window or cracked wall) that an ordinary person would notice during a reasonable inspection. The seller is generally not liable for these, as the buyer is assumed to have seen them.
- Latent Defects: These are hidden flaws (e.g., a leaking roof or faulty plumbing) that are not discoverable by a standard inspection. The voetstoots clause protects the seller from liability for these unless they knew about the defect and deliberately concealed it.
6. Mandatory Legal Disclosure
Section 45(1) to (5) of the CPA:
1. In this section, “auction” includes a sale in execution…
2. When goods are put up for sale by auction in lots, each lot is regarded to be the subject of a separate transaction.
3. A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer…
4. Notice must be given in advance if a sale is subject to a reserved price or a right to bid by the owner.
Special Conditions for Auction Participants
1. The “Neutral Middleman” Provision
Online Parts International (Parts-Ring) operates as a neutral platform connecting independent sellers, manufacturers, and distributors with buyers. While we provide the OPIC (Online Parts International Cataloguing) system for technical accuracy, Parts-Ring does not own the inventory listed by third parties and is not a party to the final contract of sale unless explicitly stated.
2. Item Condition & “Aged Stock” Disclaimer
As-Is Basis: Many items sourced via the OPIC system or Auctions are “Aged Stock,” “Surplus,” or “New-Old-Stock” (NOS). These are sold on an “As-Is” basis.
Warranty: Original manufacturer warranties may be expired due to the age of the component. Parts-Ring provides no independent warranty unless a “Bench-Test” or “Certification” service is purchased as an add-on.
Technical Fit: The responsibility for verifying part compatibility (SKU/Model matching) lies solely with the Buyer.
3. Logistics & Shipping Risk
Fulfillment: Parts-Ring facilitates logistics and drop-shipping coordination.
Transfer of Risk: Risk of loss or damage passes to the Buyer the moment the item is dispatched from the seller’s warehouse or the Parts-Ring Cape Town hub to the carrier.
International Sourcing: For parts sourced internationally, the Buyer is responsible for all local customs, duties, and import VAT unless otherwise quoted.
4. Auction-Specific Clauses (For your Auction Page)
Binding Bids: Every bid placed is a legally binding contract to purchase the item at the bid price plus any stated buyer’s premiums or shipping costs.
Vetting: Parts-Ring reserves the right to vet bidders or request deposits for high-value industrial or automotive equipment.
Right of Refusal: We reserve the right to withdraw any item from auction if the technical description is found to be inaccurate prior to the hammer falling.
5. Quote Validity & Pricing
Due to the volatile nature of electronics surplus and international exchange rates, all private quotes provided via the Contact Form are valid for a period of 48 hours only.
Section 45 of the Consumer Protection Act (CPA), No. 68 of 2008, specifically regulates the conduct and legal requirements of auctions in South Africa. It provides a framework to ensure transparency and protect consumers during the bidding and sale process.
- Definition of “Auction”: Includes any sale in execution of a court order.
- Separation of Lots: When goods are put up for sale in lots, each lot is considered the subject of a separate transaction unless there is evidence to the contrary.
- Completion of Sale: A sale by auction is legally complete only when the auctioneer announces it by the fall of the hammer (or another customary method). Until this announcement, a bidder has the right to retract their bid.
- Mandatory Advance Notice: Auctioneers must provide advance notice if a sale is subject to:
- A reserved or upset price.
- A right for the owner or auctioneer (or someone on their behalf) to bid at the auction.
- Protection Against Price Manipulation: If no advance notice of the owner’s right to bid is given, it is strictly prohibited for the owner or auctioneer to bid or employ anyone to do so. If this rule is violated, a consumer can approach a court to have the transaction declared fraudulent.
- Regulatory Power: The Section empowers the Minister to prescribe further detailed requirements regarding the conduct of auctions and the records that must be maintained.South African
FICA refers to the Financial Intelligence Centre Act (No. 38 of 2001), a South African law designed to combat money laundering and the financing of terrorism by requiring “accountable institutions” (like banks and attorneys) to verify the identity of their clients.
- Regulation 26 (Access to Records): This regulation authorises the Financial Intelligence Centre (FIC) to access records kept by accountable institutions to obtain further information regarding suspicious transactions or other reports. It ensures that the government can verify and investigate the data collected during the identification process.
- Section 30 (Cash Conveyance Reporting): While often discussed alongside regulations, Section 30 of the Act specifically requires the reporting of cash or bearer negotiable instruments (like cheques) being moved into or out of South Africa if they exceed a prescribed threshold. This is known as a “Cash Conveyance Report” (CCR).
- Individual Identity: A valid green bar-coded ID book, a Smart ID Card, or a valid passport for foreign nationals.
- Proof of Residence: A utility bill, bank statement, or lease agreement, usually not older than 3 months.
- Tax Information: A South African income tax registration number, where applicable.
- Entity Verification: For companies or trusts, additional documents like registration papers (e.g., CIPC documents) and resolutions identifying authorised representatives are required.
- Threshold: R49,999.99 (Reports are required for any amount of R50,000.00 or more).
- Reporting Period: Within 3 business days of becoming aware of the transaction.
- Note on Aggregation: As of late 2022, the requirement to automatically aggregate a series of smaller transactions to reach this threshold was abolished; however, linked transactions may still trigger a Suspicious Transaction Report (STR).
- Threshold: R24,999.99 (Reporting is required for R25,000.00 or more).
- Requirement: Individuals must declare these amounts to a customs officer at the border or via the SARS Online Declaration System.
- Threshold: R19,999.99 (Reporting is required for R20,000.00 or more).
| Reporting Type | Threshold Amount (Reporting Trigger) | Legal Section |
|---|---|---|
| Cash Threshold (CTR) | R50,000.00 and above | Section 28 |
| Cross-Border Cash | R25,000.00 and above | Section 30 |
| Electronic Transfers | R20,000.00 and above | Section 31 |
Binding Bids
Legal Commitment to Purchase: Every bid placed on the Online Parts International (Parts-Ring) platform constitutes a legally binding contract of sale. By placing a bid, the Bidder warrants that they have the immediate funds available to complete the transaction.
Default & Penalties: Failure to complete a purchase following a winning bid may result in:
Immediate suspension or permanent banning from the Parts-Ring and OPIC systems.
A “Relisting Fee” or “Cancellation Penalty” (typically 10-15% of the bid price) to cover administrative and logistics overhead.
Formal reporting to credit bureaus for significant industrial or commercial defaults.
As-Is / No-Warranty
“As-Is” Condition Disclosure: All items listed via Auction or the OPIC Cataloguing system are sold in “As-Is” condition at the time of sale. This specifically applies to:
Aged Stock / NOS: New-Old-Stock items may have degraded packaging or expired manufacturer warranties due to shelf-life.
Technical Suitability: Parts-Ring provides the SKU and manufacturer data for identification only. We do not warrant that a part is “fit for a specific purpose” or compatible with the Buyer’s existing systems.
No Returns on Surplus: Due to the nature of liquidation and surplus distribution, all auction sales are Final. Returns or refunds will only be considered if the physical item received does not match the SKU/Part Number listed in the auction description.
N.B. Submitting any form on this site constitutes acceptance of these terms.