1. Bids for each log or lot should be made on the signed tender form - delivered or posted, or in an image of the signed tender form attached to an email, where possible. If the tender form cannot be downloaded or printed from the website bids can be made by email, please clearly describe each log or lot and your bid/s.
2. A reserve price is established for each item in a tender sale before the closing date.
3. IST or STT is not bound to accept any price offered for a tendered item.
4. The price offered by a bidder and accepted by IST or STT is inclusive of G.S.T.
5. IST or STT will usually accept the highest price offered for each item, when it is greater than ninety five (95) per cent of the reserve price.
6. When the highest price offered for an item is between ninety (90) and ninety five (95) per cent of the reserve price IST or STT will contact the highest bidder to invite one final higher offer.
7. IST or STT will make its best efforts to notify all bidders of the success or failure of their offer/s, by email, telephone or in writing, during the three working days following the closing date for this tender.
8. All successful bidders must pay IST or STT for the value of an item/s within fifteen (15) working days of notice from IST or STT accepting any tender price/s, or their offer/s can be considered to have lapsed.
9. Item/s purchased through this tender sale must be collected from IST or STT within ten (10) working days after payment, unless special arrangements have been made to mill or store any item/s for a longer period.
10. All bidders are expected to purchase all items when their price offer/s is/are accepted by IST or STT; failure to purchase a winning tender piece or pieces will be considered if a bidder makes offers in subsequent tenders.
