CLIENT APPROVAL SALE AGREEMENT
You hereby agree to sell to Heritage Numismatic Auctions, Inc. ("HNAI") or Heritage Rare Coin
Galleries ("HRCG"), a division of Heritage Capital Corporation (both companies collectively
referred to as "Heritage"), the rare coin(s), currency, or other numismatic properties (hereafter
the "Coin(s)"), listed in the attached Schedule 1, at the fixed price(s) listed on Schedule 1,
subject to the following terms and conditions:
Within two (2) business days after receipt, Heritage will select those Coin(s) from Schedule 1
that Heritage, in its sole discretion, deems acceptable for this program then promptly return
the rest of your properties to you at Heritage's expense. The Coin(s) then shall be offered for
sale by Heritage. The Coin(s) may be marketed in various programs until sold or otherwise
returned to you. Some of these sale programs include:
- My WantList™; the Coin(s) will be imaged and offered to Heritage's My Want List™ customers
for approximately the first two weeks (generally 10 to 18 days depending upon auction
deadlines) after the Coin(s) are processed
- Exclusively Internet™ Auctions ("EI")
- Internet auctions conducted by third parties such as eBay
- Heritage Wholesale fax listings
- Presentations at regional and national coin shows.
Heritage is authorized to resell the Coin(s) to any person or entity in its sole discretion
pursuant to any of the above programs as well as similar venues.
The fixed price is deemed a fair price for the Coin. Any amount Heritage receives in excess
of the fixed price is acknowledged to be for Heritage's services in selling the Coin.
The term of this Agreement is fifty (50) days, after which if the Coin(s) have not been sold
by Heritage or placed on hold or sent on approval to a Heritage client, the Coin(s) shall be
returned to you. You may request the early return of a Coin(s) at any time during the term
of this Agreement, unless the Coin is contractually subject to a purchase offer, on approval
to a Heritage client, or pledged to an auction for a specified time; upon the expiration of
such time, the Coin(s) shall be returned to you. A handling fee of $50.00 will be charged for
any coin returned during the first 25 days of this Agreement.
Upon delivery of the Coin(s) to Heritage, Heritage agrees to be responsible for the Coin(s)
until sold or returned to you. In the event of a loss, in no event shall Heritage's liability
ever be greater than that set forth in Schedule 1. In the event that the Coin(s) do not sell,
the Coin(s) unsold at the expiration of this Agreement shall be returned to you and thereupon
Heritage shall have no further obligation to you.
You warrant that you are the sole owner of the Coin(s), that this is a business transaction
between merchants, that you have not encumbered the Coin(s) in any way (by pledging the Coin(s)
as collateral for a loan or in some other way), and that all of the Coin(s) are genuine.
Once the Coin(s) have been accepted by Heritage for consignment, you may elect to borrow from
HNAI up to 50% of the sale price of the Coin(s) as stated in Schedule 1. If you elect to borrow
against the sales proceeds of the Coin(s), you further agree to execute the incorporated Note
and Security Agreement. For the purpose of securing the payment of this Note and of any other
indebtedness now owing or hereafter incurred by you to Heritage, you hereby grant to Heritage a
first priority lien and security interest in each and all of the Coin(s), as described in Schedule
1 attached hereto, and on the proceeds of any sales of the Coin(s).
The offers of the Coin(s) through Internet auctions will be conducted in accordance with the
Terms and Conditions of Sale that are posted on the Heritage web site for Exclusively Internet™
and those terms posted by third party Internet services.
Coin purchasers that have not inspected the Coin(s) are permitted a right of return as determined
in accord with the specified Terms and Conditions of the auction service.
Payment of the purchase price of the Coin(s) as set forth in Schedule 1 will be made to you on
the second Wednesday following both our receipt of the purchase price by the buyer and the expiration
of the buyer's right of return.
You may not place bids on your own Coin(s) through the Internet while they are consigned under this
Agreement.
From time to time a prospective purchaser may make an offer for the Coin(s) that is less than you
established in Schedule 1. In such an event we may notify you of the offer and you may elect to
accept or reject the offer. If you accept the offer, you agree to pay us a fee of 5% of the selling
price for our services promoting the sale.
We reserve the right to withdraw the Coin(s) from any sale. We reserve the right to catalog,
describe, and group the Coin(s) in the manner we see fit. We will not be responsible for errors
in cataloging or describing the Coin(s). You agree that we may exclude from the Auction any participants
that we deem are commercially inappropriate.
The term of this Agreement may be extended to permit a purchaser to pay for the Coin(s) and inspect
the purchased Coin(s).
The amount your Coin(s) realize from the sale will be applied in the following order: (i) to an offset,
which you hereby authorize, against amounts you owe Heritage for other coins you have purchased
and any interest due thereon, (ii) if you received a cash advance, to interest accrued on the
attached Standard Note and Security Agreement, which you have executed (the "Note"), and (iii) if
you received a cash advance or signed a Note, to payment or reduction of the principal of the cash
advance or Note.
If you receive a cash advance toward the proceeds of the sale of your Coin(s), the Note contains
additional terms and conditions that are an integral part of this Agreement and are incorporated
herein by reference.
This Agreement is the entire agreement between you and us concerning the approval consignment of
your Coin(s), and it supersedes any prior agreement or representation. This Agreement can only be
changed in writing executed by both you and us. If there is any part of this Agreement that is held
to be unenforceable, the other parts of this Agreement shall continue to be in full force and effect.
Any part that is found to be unenforceable shall only be limited so that it shall be enforced to the
fullest extent permitted by law. If any action is brought to enforce any of the Terms and Conditions
of this Agreement, the prevailing party shall be entitled to recover from the other party reasonable
attorney's fees. This Agreement shall be construed in accordance with the laws and regulations of
the State of Texas.
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Heritage representative's signature Date
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Client's signature Date
Client's printed name & address:
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Phones
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Fax
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E-Mail
Copyright © 2002 Heritage Capital Corporation
3500 Maple Ave. 17th Floor
Dallas, TX 75219-3941
1-800-US-COINS (872-6467) / (214) 528-3500
All Rights Reserved