Adam's IMPORTANT IRISH ART Auction Wednesday 24th March 2021

157 Important Irish Art | 24 th March 2021 GENERAL TERMS & CONDITIONS OF BUSINESS The Auctioneer carries on business on the following terms and conditions and on such other terms or conditions as may be expressly agreed with the Auction- eer or set out in any relevant Catalogue. Conditions 17-22 relate mainly to buyers and conditions 24-40 relate mainly to sellers. Words and phrases with special meanings are defined in condition 1. Buyers and sellers are requested to read carefully the Cataloguing Practice and Catalogue Explanations contained in condi- tions 2 and 8. DEFINITIONS AND GENERAL CONDITIONS Definitions 1. In these conditions the following words and expressions shall have the following meanings: ‘Auctioneer’ – James Adam and Sons trading as Adam’s ‘Auctioneer’s Commission’ – The commission payable to the Auctioneer by the buyer and seller as specified in conditions 22 and 26. ‘Catalogue’ – Any advertisement, brochure, estimate, price list or other publication. ‘Forgery’ – A Lot which was made with the intention of deceiving with re- gard to authorship, culture, source, origin, date, age or period and which is not shown to be such in the description therefore in the Catalogue and the market value for which at the date of the auction was substantially less than it would have been had the Lot been in accordance with the Catalogue description. ‘Hammer Price’ – The price at which a Lot is knocked down by the Auction- eer to the buyer. ‘Lot’ – Any item which is deposited with the Auctioneer with a view to its sale at auction and, in particular, the item or items described against any Lot number in any Catalogue. ‘Proceeds of Sale’ – The net amount due to the seller being the Hammer Price of the Lot after deducting the Auctioneer’s Commission thereon un- der condition 26 the seller’s contribution towards insurance under condi- tion 28, such VAT as is chargeable and any other amounts due by the seller to the Auctioneer in whatever capacity howsoever arising. ‘Registration Form or Register’ – The registration form (or, in the case of persons who have previously attended at auctions held by the Auctioneer and completed registration forms, the register maintained by the Auction- eer which is compiled from such registration forms) to be completed and signed by each prospective buyer or, where the Auctioneer has acknowl- edged that a bidder is acting as agent on behalf of a named principal, each such bidder prior to the commencement of an auction. ‘Sale Agreement Form’ – The sale agreement form to be completed and signed by each seller prior to the commencement of an auction. ‘Total Amount Due’ – The Hammer Price of the Lot sold, the Auctioneer’s Commission due thereon under condition 22, such VAT as is chargeable and any additional interest, expenses or charges due hereunder. ‘V.A.T.’ – Value Added Tax. Cataloguing Practice and Catalogue Explanations 2. Terms regarding cataloguing practice used in catalogues have specific meanings, and attention is drawn to these explanations in each published catalogue. GENERAL CONDITIONS Auctioneer Acting as Agent 3. The Auctioneer is selling as agent for the seller unless it is specifically stated to the contrary. The Auctioneer as agent for the seller is not respon- sible for any default by the seller or the buyer. The Auctioneer reserves the right to bid on behalf of the seller. Auctioneer Bidding on behalf of Buyer 4. It is suggested that the interests of prospective buyers are best protected and served by the buyers attending at an auction. However, the Auctioneer will, if instructed, execute bids on behalf of a prospective buyer. Neither the Auctioneer nor its employees, servants or agents shall be responsible for any neglect or default in executing bids or failing to execute bids. Admission to Auctions 5. The Auctioneer shall have the right exercisable in its absolute discretion to refuse admission to its premises or attendance at its auctions by any person. Acceptance of Bids 6. The Auctioneers shall have the right exercisable in its absolute discretion to refuse any bids, advance the bidding in any manner it may decide, with- draw or divide any Lot, combine any two or more Lots and, in the case of a dispute, to put any Lot up for auction again. Indemnities 7. Any indemnity given under these conditions shall extend to all actions, proceedings, claims, demands, costs and expenses whatever and howso- ever incurred or suffered by the person entitled to the benefit of the in- demnity and the Auctioneer declares itself to be a trustee of the benefit of every such indemnity for its employees, servants or agents to the extent that such indemnity is expressed to be for their benefit. Representations in Catalogues 8. Representations or statements made by the Auctioneer in any Cata- logue as to attribution, authorship, genuineness, source, origin, date, age, provenance, condition or estimated selling price or value is a statement of opinion only. Neither the Auctioneer nor its employees, servants or agents shall be responsible for the accuracy of any such opinions. Every person interested in a Lot must exercise and rely on their own judgement and opinion as to such matters. Governing Law 9. These conditions shall be governed by and construed in accordance with Irish Law. Notices 10 . Any notice or other communication required to be given by the Auction- eer hereunder to a buyer or a seller shall, where required, be in writing and shall be sufficiently given if delivered by hand or sent by post to, in the case of the buyer, the address of the buyer specified in the Registration Form or Register, and in the case of the seller, the address of the seller specified in the Sale Agreement Form or to such other address as the buyer or seller (as appropriate) may notify the Auctioneer in writing. Every notice or commu- nication given in accordance with this condition shall be deemed to have been received if delivered by hand on the day and time of delivery and if delivered by post three (3) business days after posting. Conflict of Interest 11. The Auctioneer affirms that no conflict of interest exists that prevents him/her providing the property service for the Client. Records 12. The Auctioneer will keep a record of the services provided on foot of any Agreement for 6 years. All financial records must be kept for 7 years. Bank Account 13. The Auctioneer’s “Client Account” is held at: Bank of Ireland 39 St. Stephen’s Green Dublin 2 Client Monies 14. Any interest credited to the Client Account in respect of monies held by the Auctioneer will be dispersed in accordance with the Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012. Complaints 15. Any complaint which the Client may have arising under this Agreement may be dealt with by Eamon O’Connor - email: - tel: +353 1 6760261 . A response will issue within 10 working days of receipt of the complaint. Where the Client is dissatisfied with the response to the complaint received from the Auctioneer, the Client may make a complaint to: Property Services Regulatory Authority, Abbey Buildings, Abbey Road, Navan, Co Meath, C15 K7PY. Statement of obligations on the Auctioneer pursuant to section 42 and 43 of the Criminal Justice (Money Laundering and Terrorist Fi- nancing) Act 2010 16. The Auctioneer is obliged under sections 42 and 43 of the Criminal Jus- tice (Money Laundering and Terrorist Financing) Act 2010 to report to An Garda Síochána and the Revenue Commissioners suspicious transactions and transactions involving places designated under section 32 of that Act. The maximum cash accepted per transaction is €8,000. For any cash pay- ments in excess of €500, a PSRA cash origin form will have to completed.