TERMS, CONDITIONS & GENERAL REMARKS
Terms: Payment is to be made on the day of the market. Cheques are payable to ‘Louth Market Ltd’. Debit card payments are accepted, and online payments should be made to: Sort Code 30-65-86 Account No. 31675460. Should there appear to be an error in this account please notify the
Operator: Louth Livestock Market is a trading name of Louth Market Ltd (Company No. 11615723) Registered office: 23 Cornmarket, Louth LN11 9QD.
RICS, Client Money Protection Scheme: All financial transactions within this market are conducted with the Auctioneers acting as Principal. Sale proceeds are not paid into a client bank account and, consequently, the RICS Client Money Protection Scheme (“CMPS”) will not apply to protect the vendor.
Retention of Title: All stock sold in the market or on auctionmarts.com will remain the property of Louth Market Ltd until the purchase price is paid in full. The purchaser will remain a bailee only until payment is made.
Conditions of Sale: All sales operate under the Livestock Auctioneers Association’s Conditions of Sale as displayed within the market office.
Commission Levies and Charges: Please note the costs of selling livestock and deadstock through this market are displayed within the market office and are available upon request.
Overdue Accounts: We reserve the right to charge interest on overdue accounts at 4% over the Bank of England base rate, calculated from the date of this invoice and late payment compensation pursuant to the Late Payment of Commercial Debts (Interest) Act 1998.
Timing of Arrival of Stock: The market opens at 7am (unless otherwise advertised) each market day or earlier by arrangement, (midday the day before market is the earliest time agreed with APHA). To assist the smooth running of the auction, can vendors kindly note to bring their stock into the market as early as possible, with a minimum arrival time of 40 minutes before the section auction is due to begin. This will allow time for the necessary careful lotting and associated paperwork etc.
Animal Lairage and Collection: If purchased livestock is not likely to be removed from the market within an hour or so of the auction finishing, please tell the section auctioneer so that proper provision for the care of the stock can be made until collection. For the sake of clarity, there is no issue with the provision of overnight lairage of stock at market, nor collecting stock at any time on the day of the sale, provided that we are aware of your plans and we can therefore make arrangements. The auctioneers reserve the right to make a small charge per head to cover feed and bedding costs if stock is lairaged overnight.
Payments to Vendors: Vendors are paid by BACS. Payments are made on market day once business has concluded and funds will clear into vendors bank accounts two working days later.
Sheep Tagging: Sheep individually identified with electronic tags will be electronically read and recorded. For those sheep individually still identified with the old-style Manual/Non-Electronic Tags, it is our recommendation that sheep keepers retag them (and record that in your movement book) prior to selling with a set of double tags including an EID tag.
Mouthing of Hoggs: Hoggs will be mouthed in the sale pens following weighing as from the 1st April. Note, if they are identified to have “shot broad teeth” they will be identified and sold separately. Vendors are responsible for the correctness of the paperwork and identification relating to their cattle and sheep.
Red Tractor/ Farm Assurance -Linked Holdings/ TLO’s: Please ensure that the appropriate Temporary Land Association or Link between holdings are in place for all stock brought in from summer/temporary grazing not listed as part of your main holding. Farm Assured sheep will be marked with a coloured spray on the top of the neck.
Reserve Prices: Vendors shall have the right to refuse to accept the final bid for their livestock or deadstock, or to fix a reserve price which must be notified to the auctioneer before or at the time the animal or item is due to be sold. The auctioneers reserve the right to charge a handling/paperwork fee of £5 plus VAT/item/head where animals or items of deadstock are not sold through the market.
Cash Payments: To ensure compliance with Anti Money Laundering requirements, we will not accept cash payments greater than €10,000 equivalent.