General terms and conditions for companies


1. Background

1.1. These general terms and conditions for online auctions ("the Terms") apply when a business entity or other legal person ("Customer") makes a purchase via and related pages ("the Website"). Agreements are entered into between the Customer and PS Auction AB, organization number 556632-1468 ("PS"). To be able to purchase Auction Items via the Website, the Customer must accept the Terms. 

1.2. The items sold by PS via the Website ("Auction Items") are sold by PS in its own name but on behalf of a seller who is a third party. PS's assignment typically includes appraising and preparing a description of the Auction Item, the contents of which are specified in section 3 of these Terms ("Item Description"). Auction Items are usually used, and PS strives to make the Item Description as accurate as possible. 

2. Bidding and service fee

2.1. The Auction Items are sold through online auctions on the Website. To participate in an online auction on the Website, the Customer must register as a member in accordance with PS's current Terms & Conditions for Auction and Membership, see the Website and above. Detailed information regarding PS's bidding service and the auction process is found in PS's Terms & Conditions for Auction and Membership. Customers choosing to participate in auctions on the Website must adhere to PS's current rules and instructions. 

2.2. The bidding service provided by PS has been developed over time through substantial investments. PS continues to invest time and money in developing the bidding service. If the Customer uses PS's bidding service and places a winning bid, a fee is charged for the use of the bidding service. The service fee is intended to cover PS's costs for the bidding service, including investments made in the service, costs for programmers, IT support, operating expenses, and other necessary costs for providing the service. The service fee must be paid in accordance with the principles and amounts specified on the Website. The service fee may vary in size depending on the Auction Item. A Customer is obligated to pay the service fee even if the purchase of the specific Auction Item is not completed by the Customer for any reason. PS covers the service fee for the Customer who does not win the bidding for an Auction Item. Applicable service fees are specified on the Website. Payment of the service fee is made in accordance with section 5 below. 

2.3. In cases where the Customer has sought assistance in arranging financing for their Auction Item, the Customer remains bound to the purchase until the financing is fully completed. If, for any reason, an initiated financing is not completed, PS has the right to re-invoice the customer for their purchase and demand that the Customer fulfill it. 

2.4. PS's obligations to complete the purchase in accordance with these Terms arise only after the seller of the Auction Item has approved the winning bid, and an invoice for the Auction Item has been sent to the Customer who placed the winning bid, or PS has otherwise confirmed the winning bid, in accordance with PS's current Terms & Conditions for Auction and Membership. 

3. Item description

3.1. Auction items available for sale on the Website are presented in the Item Description, which includes the following information: 

(a) basic description of the Auction Item and its main characteristics; 

(b) the time and place the Auction Item is available for potential viewing; 

(c) an estimated market value of the Auction Item; 

(d) how the Auction Item can be delivered (if applicable) or how the Auction Item can be handed over or picked up; and 

(e) the size of the service fee applicable to the highest bid placed. 

3.2. The market value provided for the Auction Item is based on a market-adjusted valuation of the Auction Items before the auction. The price at which the Auction Item is finally sold may significantly exceed or fall below the market value. PS cannot guarantee that the Customer cannot find a similar Auction Item at a lower price. 

3.3. Information in the Item Description may be subject to change due to additional circumstances. Any changes or additions will be posted or communicated at the time of the auction or specified in the Item Description. In cases where a change may be considered significant to the value of the Auction Item, PS reserves the right to remove the Auction Item from the auction and the Website, and the right to possibly reintroduce the Auction Item with a new Item Description. If an Item Description has been provided in different languages, the Swedish version takes precedence. 

4. Viewing and obligation of inspection prior to the auction

4.1. The time and place for any viewing of the Auction Item are announced in the Item Description. The Customer may form their own opinion about the offered Auction Item during on-site viewing and then place bids based on their own assessment of the value of the Auction Item. In the event that a viewing of the Auction Item is not possible, the Customer should, to the best of their ability, assess the Auction Item, including studying the Item Description, pictures of the Auction Item, and, if necessary, consulting with PS. 

4.2. A description of the Auction Item and its condition is provided in the Item Description. The Customer has an obligation to inspect the Auction Item before the auction takes place on the Website. Errors and deficiencies may occur in the Auction Items offered. Therefore, the Customer must carefully examine and assess the condition and nature of the Auction Item. The depiction of an Auction Item in the auction list or Item Description is solely for identification purposes and cannot be used to determine the performance or condition of the Auction Item. However, if a significant detail in the auction list or Item Description is directly misleading, this may constitute grounds for canceling the purchase. 

4.3. PS is not responsible if the Customer neglects their inspection duty as mentioned above and is not liable for matters that the Customer has noticed or should have noticed if the Customer had fulfilled their inspection duty.

5. Fees and payment

5.1. During bidding and purchases through the Website, the prices stated on the Website apply. Prices and bids are presented on the Website excluding VAT unless expressly stated otherwise. In addition to the service fee, each individual Auction Item incurs VAT and other applicable statutory fees on the highest bid submitted. Refer to the Item Description for more information. VAT is also added to the service fee. 
The Customer undertakes to independently verify whether the VAT on the relevant Auction Item is deductible in their business. 

5.2. The Customer can pay using the methods specified on the Website. Learn more about our payment methods on the Website. PS has the right to charge the Customer immediately upon the winning bid. PS reserves the right to not always offer all payment methods or change payment methods if the chosen method does not work at the time of purchase for any reason. Please note that any limitations on payment options are specified on the Website. 

5.3. Payment must be made immediately after winning the Auction, your bid has been approved, and PS has sent an invoice to your email. If your payment is not made immediately, PS will send you a reminder within three (3) calendar days. If, despite the reminder, you do not pay, PS may send you another reminder. If payment is not made within seven (7) calendar days after the end of the Auction, PS has the right to demand that the purchase be fulfilled. In such a case, PS also has the right to cancel the purchase due to non-payment and receive compensation for any damage or loss, including the service fee. 

5.4. If payment is delayed despite reminders from PS, and the Customer is more than thirty (30) days late with payment from the due date, PS has the right to charge default interest and/or collection fees in accordance with applicable law. 

5.5. If the purchase is canceled according to point 6.3 above, PS has the right, without first notifying the winning Customer, to resell the Auction Item at the starting and surveillance price that PS deems appropriate. In the event of resale, PS has the right to offset compensation for claims and costs for the sale of the Auction Item from the amounts received. If the resale price is not sufficient to cover PS's claims and the cost of resale, the Customer must pay the difference. 

5.6. If the Customer is outside of Sweden, the invoice is sent with additional Swedish VAT. The VAT must be paid to PS and then refunded to the Customer when an export declaration or other document proving that the Auction Item has left Sweden is provided to PS. For the VAT refund to occur, the export documentation must be received by PS no later than fourteen (14) days after the invoice date. The Customer must also provide complete bank information to PS, such as IBAN account, BIC/SWIFT code, and the name and address of the bank. The Customer is responsible for all customs handling of the Auction Item. 

5.7. PS will only refund VAT to customers outside of Sweden who are registered businesses with a valid foreign address. Customers within the EU must always provide a valid Value Added Tax (VAT) number during registration.

6. Collection, inspection and transport

6.1. The date and time for the pickup of the purchased Auction Item are specified on the order confirmation, Item Description, or the invoice issued to the winning Customer. PS is not responsible for transportation, and shipping is not included in the purchase of the Auction Item. Delivery shall take place Ex Works at the designated pickup location (Incoterms 2010). PS will notify the Customer when the Auction Item is available for pickup. Unless otherwise agreed with the Customer, the pickup of the Auction Item under this provision shall occur on the scheduled date indicated in the order confirmation or Item Description. For Auction Items not picked up within the prescribed time, PS has the right to charge a storage and handling fee according to the applicable price list displayed on the Website. If the Customer is unable to pick up the Auction Item on the specified date and time, the Customer must contact PS using the contact information provided by PS. 

6.2. Upon pickup of the Auction Item, proof of payment and a copy of the invoice or payment confirmation must be provided. However, Auction Items won cannot be picked up until full payment has been received by PS. 

6.3. Upon pickup of the Auction Item, the Customer is obligated to inspect the Auction Item to ensure that it is not defective. A customer who retrieves Auction Items through an agent or transport company must sign a delivery approval through which the agent or transport company is authorized to, on behalf of the Customer, inspect and pick up the Auction Item. 

6.4. If an Auction Item is not picked up on the delivery date specified in the order confirmation, invoice, or Item Description, PS has the right to transfer the Auction Item to a storage/shipping company hired by PS, cancel and resell it in accordance with the terms specified in points 5.3 and 5.5 above, or discard the Auction Item. If the Auction Item concerns real estate, the Customer has the right to access on a specific date in accordance with the agreement between the property owner and the Customer. 

6.5. PS may, by special agreement with the Customer, arrange for the transport of Auction Items. All transports, both within and outside Sweden, are normally carried out by an externally contracted operator ("Carrier") and in accordance with the Carrier's applicable rules. The decision on the Carrier may be made only after full payment. The Customer is also invoiced for specific transport costs in accordance with the Carrier's current price list specified on the Website. 

6.6. In case of any complaints or claims related to transportation, the Customer should contact the Carrier directly. PS is, under no circumstances, responsible for such transportation, damages, or delays related to transportation, or any other circumstances on the Carrier's part. The Customer will also be invoiced for specific transportation costs in accordance with the Carrier's prevailing price list as stated on the Website. In cases where PS, on an individual basis, agrees to pack and send purchased Auction Items, this is done on behalf of the Customer and at the Customer's risk. PS is not responsible for damages to purchased Auction Items that occur during such transportation or for lost shipments. 

6.7. Ownership of the Auction Item transfers from PS to the Customer as soon as the Customer has fully paid for the Auction Item.

7. Responsibility for defects

7.1. A description of the Auction Item and its condition is provided in the Item Description. For defects in the Auction Item, consisting of the Auction Item not meeting agreed-upon characteristics or being in worse condition than the Customer could reasonably expect, PS is responsible according to the rules below. 

7.2. PS is not responsible for defects that arise after the purchase. PS is also not responsible for: 

(a) defects, deficiencies, or damages stated in the auction list or Item Description; 

(b) defects that, considering the nature, price, or age of the Auction Item, the Customer could have expected; or 

(c) defects that the Customer is aware of or should have been aware of, for example, those the Customer should have noticed by carefully reading the Item Description and studying the pictures attached to the Auction Item, or those the Customer noticed or should have noticed during their examination of the Auction Item under point 3 or point 6.3 above. 

7.3. PS is not responsible for defects arising from the Auction Item deviating from what can objectively be expected of a used item if, at the time of purchase, PS has informed the Customer about the defect, and the Customer has expressly and separately approved the defect. This means, for example, that used items should not be considered defective if the defect is due to normal wear and tear. 

7.4. Furthermore, PS is not liable for defects if the Auction Item is sold as "repair object," even if the Auction Item has more extensive or different defects than those specified. PS is not responsible for ensuring that descriptions of the Auction Item in the auction list or Item Description are exhaustive regarding damages, deficiencies, or defects. 

7.5. If the Auction Item cannot be delivered after the auction is concluded, PS will refund the amount paid by the Customer for the Auction Item and also compensate the Customer for the expenses associated with traveling to the pickup location in accordance with the prevailing compensation levels as indicated on the Website. 

7.6. PS is not liable for defects in Auction Items sold on behalf of the Enforcement Authority, bankrupt estate, or on behalf of collection or leasing companies. The Customer waives the right to assert any consequences due to defects in such Auction Items.

8. Complaints

8.1. The Customer may not assert that the Auction Item is defective unless the Customer notifies PS of the defect (complaint) within the timeframes specified below. 

8.2. The Customer has an obligation to inspect the Auction Item in accordance with points 4 and 6.3 above. Defects noticed or that should have been noticed when the Customer inspected the Auction Item on these occasions must be reported immediately. Otherwise, PS is only responsible for defects that the Customer notifies in writing within fifteen (15) days from the Customer's pickup of the Auction Item. 

8.3. Auction Items sold on behalf of the Enforcement Authority, bankruptcy estate, or on behalf of a debt collection agency or leasing company cannot be subject to complaints. 

8.4. Complaints must be made as specified on the Website. A written notice of a complaint should include the object number and invoice number, the Auction Item to which the complaint relates, and a description of how the defect manifests. To avoid misunderstandings, an incorrectly stated bid is not grounds for a complaint. PS reserves the right to reject a complaint if it turns out that the item is not defective. 

8.5. In the event of a defect in an Auction Item, PS has the right to, at its own discretion, compensate the Customer by 

(a) first correcting the defect, 

(b) secondly, providing reasonable compensation to the Customer in the form of a price reduction, or 

(c) thirdly, replacing the Customer with a replacement item. 

8.6. PS is not responsible for repairs carried out by the Customer unless approved in advance by PS. 

8.7. If rectification under point 8.5 does not occur within a reasonable time from the presentation of a complaint regarding defects for which PS is responsible, however, no later than thirty (30) days, the Customer has the right to cancel the purchase and, upon returning the Auction Item, receive the amount the Customer paid to PS at the time of purchase. The Customer is not entitled to any further compensation. 

8.8. If the Customer has complained and there is no defect for which PS is responsible, PS is entitled to compensation for its costs. 

8.9. The consequences arising from this point 9 are exclusive, and they are the only consequences the Customer is entitled to in the case of a complaint.

9. Limitation of liability

9.1. PS has no liability for defects beyond what is prescribed above. PS is also not liable for any legal defects. PS's total liability for each Auction Item is, under all circumstances, limited to the value of the specific Auction Item. PS is not responsible in any case for indirect losses. 

9.2. To avoid misunderstandings, PS is not liable in any case for any damage or loss suffered by the Customer due to the Auction Item not being available for pick-up on the day and at the place of pick-up, such as in the case of theft or when the Auction Item is no longer available for PS to sell due to reasons associated with the seller of the Auction Item. PS's sole responsibility in such situations is limited to refunding the amount that the Customer may have already paid to PS for the Auction Item.

10. Special conditions upon sale of goods seized in execution

10.1. PS also offers the sale of seized assets on behalf of the Enforcement Authority on the Website. Specific conditions apply to the sale of these Auction Items as follows. 

10.2. The Auction Items are sold at an executive auction/sale on behalf of the Enforcement Authority. The Enforcement Authority has the right to cancel the sale or to withdraw specific Auction Items from sale with short notice. The Auction Items are sold in the condition they are in at the time of sale. No complaints are considered. 

10.3. PS does not conduct a comprehensive test of seized property, and the Object Description on the Website is only general. The Customer must personally ensure the condition of the Auction Item during the viewing and check the Object Description. Auction Items cannot be rejected upon pickup, and the Customer is bound by their winning bid regardless of the condition of the Auction Item.

11. Amendment of the Terms

11.1. PS has the right to change these Terms by notifying the Customer or by introducing the amended Terms on the Website. Changes to the Terms become effective when the Customer has accepted the Terms (during a new visit to the Website where acceptance occurs electronically) or alternatively, thirty (30) days after PS has informed the Customer of the changes. PS recommends that the Customer regularly checks the Website to stay informed about any changes to the Terms. 

12. Force Majeure

12.1. If PS's performance of its obligations under the Terms is substantially hindered or prevented due to circumstances beyond PS's control, such as, for example, a general labor dispute, war, fire, lightning strike, pandemic, terrorist attack, theft, changes in government regulations, government intervention, or the superior right of a third party, or any other reason beyond PS's control, this shall constitute grounds for exemption, leading to exemption from damages and other consequences. If PS's performance of the Terms is prevented for a period longer than three (3) month due to grounds for exemption under this point 12, the Customer may cancel the purchase. If the Customer cancels the purchase because PS has been unable to fulfill its obligations under the Terms, PS will refund the amount the Customer paid for the Auction Item, deducting compensation for the service fee and other reasonable costs PS incurred in its attempts to fulfill its obligations under these Terms.

13. Contact  

13.1. For questions or complaints, the Customer can contact PS via, 0771 10 11 00, or through the PS chat function on the Website.  

14. Governing law and disputes

14.1. Disputes regarding the interpretation or application of these Terms and the Website in general shall be interpreted in accordance with Swedish law and, in the first instance, be resolved through negotiations between the parties. In the event the parties do not reach an agreement, the dispute shall be settled by Swedish courts. 

These Terms and Conditions have been established by PS on 08-01-2024