Methods of Payment
Successful purchasers will be sent an invoice the day after the sale. That invoice should be paid upon receipt to allow us to receive cleared funds within seven days of the sale. At the time of settlement of the invoice it is important that you advise us when you intend to collect your purchase. If payment is not received within seven days from the date of the sale, interest will be charged at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale.
If you wish to collect your purchase on the day of the sale, it must be paid for in full.
We accept payment by:
- Cash. Payments of up to £5,000 can be made at the cashier’s office, either during or after the sale
- Cheque. All sterling cheques should be drawn on a UK bank and made payable to CEFA Ltd. A cheque will need to have cleared before the removal of the goods is permitted.
- Debit and Credit Cards. Payments can be made by Switch, MasterCard and Visa cards. If the purchaser is unknown to us and wishes to pay with one of these cards they must present suitable photographic identification.(Credit card payments will be subject to a surcharge of 3.5% of the total amount payable.)
- Bank Transfer, either BACS or Swift payment if abroad.
Unless otherwise agreed with us in writing, the fact that the Buyer wishes or has to apply for an export licence does not affect his obligation to make payment after the sale nor our right to charge interest or storage charges on late payment. If the Buyer requests us to obtain an export licence on his behalf then if so provided we will be entitled to make a charge for this service which shall include any such third party payment required in the obtaining of any such export licence.
Payment and Ownership
The Buyer must pay the full amount due (comprising the hammer price, Buyer’s premium and any applicable taxes) immediately after the sale. This applies even if the Buyer wishes to export the lot and an export licence is, or may be, required. The Buyer will not acquire title to the lot until all amounts due to us from the Buyer have been received by us in good cleared funds even in circumstances where we have released the lot to the Buyer.
CEFA is able to offer advice on the delivery and shipment of purchases. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements. The denial of any licence required or delay in obtaining such a licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Failure to collect purchases
Where purchases are not collected within two calendar days form the date of sale, whether or not payment has been made, we shall be permitted to remove the property to a third party warehouse at the Buyer’s expense, and only release the items after payment in full has been made in respect of removal, handling and storage costs howsoever reasonably incurred by us as well as payment of any other outstanding sums owed to us by the Buyer.
Collection and Storage
Please note the terms in our Conditions of Sale for collection and storage. It is important that goods are paid for and collected promptly since any delay may involve the buyer in paying our removal and storage charges.