Lot Consisting of: (2) 75-KVA Spot Welders, with Intertron Solid State Controls, and 12-Position

TERMS & CONDITIONS OF SALE

THIS IS A LIVE & WEBCAST AUCTION BEING HELD AT USA TECHNOLOGIES ON TUESDAY, JULY 14^TH, 2015 BEGINNING AT 10:00 A.M. (CST).  ALL ITEMS ARE BEING PRESENTED FOR SALE AS IS/WHERE IS, WITHOUT WARRANTY OF ANY KIND EXPRESSED OR IMPLIED.  A 14% BUYERS PREMIUM WILL BE APPLIED TO ALL PURCHASES.  CREDIT CARDS (VISA, MASTERCARD & DISCOVER) WILL BE ACCEPTED FOR PAYMENT OF PURCHASES LESS THAN $10,000.

1. REGISTRATION – All bidders must register for the sale providing name (& business if applicable), address, reliable contact phone number, email address, valid credit card number and bank information. Credit Card information is utilized to validate the registrant and will not be used as payment without express authorization from the buyer after the sale.  Complete registration information is vital to being quickly approved for the sale. Incomplete registrations may not be approved at the discretion of ATEC.  By registering, the bidder acknowledges that they have read, accept, and agree to abide by the terms set forth in this document.  It is the registrant’s responsibility to seek clarification of any terms and conditions not clearly understood or left undefined within this document.  No online registrations will be accepted after 2:00 P.M. Central Time on Monday, July 13^th, 2015. On-site registration is available the day of the sale.

2. INSPECTION – Items can be inspected at USA Technologies located at 801 SW Jefferson Avenue in Peoria, Illinois 61605 on Monday, July 13^th, from 10:00 A.M. to 5:00 P.M. Central Time.  Inspections will also be permitted from 9:00 A.M. to 10:00 A.M. on Tuesday, July 14^th, 2015.  Additional inspections are available by appointment only. Please contact ATEC at (314) 447-3200 to schedule an appointment. Bidding will begin at 10:00 A.M.

3. BIDDING – All bidders must be registered to participate in this sale.  A 14% Buyer’s Premium will be added to the sale price of all purchases. Placing a bid acknowledges that the bidder has read, accepted, and agrees to abide by the terms set forth in this document.  Placing a bid also signifies a contractual intent to purchase at the specified bid amount and cannot be rescinded.

4. PAYMENT – On-Site sales must be paid in full day of the sale. Invoices for online bidders must be paid within 48 hours of the sale closing.  All successful online bidders will be notified by email immediately following the sale with an invoice to follow.  If you receive notification that you are the successful bidder, but do not receive an invoice by 2:00 P.M. Wednesday, July 15^th, it is YOUR RESPONSIBILITY to notify our office at (314) 447-3200 so that we may re-issue your invoice.  ATEC accepts Cash, Cashier’s Check, Credit Cards, and Wire Transfer as payment. 

Visa, MasterCard, and Discover are accepted for purchases totaling less than $10,000. If the purchase is greater than $10,000, ATEC will allow the buyer to place a 10% non-refundable deposit on the credit card, with the remainder payable within 48 hours. If paying with a credit card, the buyer waives their rights to file a credit card dispute, as all items are released to the buyer immediately following payment, and all items are sold “As Is/Where Is”. A 14% Buyers Premium Fee will be added to the sale price of all purchases. Any unpaid purchases will be re-sold at the auctioneer’s discretion.

5. REMOVAL – Removal is the sole responsibility of the buyer.  The auctioneer is not responsible for preparing items for shipping or removal.  No Items will be released until that item has been paid for in full and a copy of the paid invoice is presented to an ATEC representative.  If you employ someone to remove your purchases they must provide a copy of the paid invoice to our representatives on site.  All professional movers MUST provide proof of insurance to ATEC prior to moving any items.  NO ITEM WILL BE REMOVED WITHOUT PROOF OF PURCHASE AND PAYMENT – NO EXCEPTIONS! 

ITEMS NOT REQUIRING RIGGED REMOVAL: Removal of all items will take place Wednesday, July 15^th through Thursday, July 16^th, 2015, from 9:00 A.M. to 4:00 P.M. and Friday, July 17^th, from 9:00 A.M. to 12:00 P.M. (Central Time). Any items not removed by this deadline will be considered abandoned.

ITEMS REQUIRING RIGGED REMOVAL: Removal of all items requiring rigged removal will take place by the following schedule:

• Wednesday, July 15^th through Thursday, July 16^th, 2015, from 9:00 A.M. to 4:00 P.M.
• Friday, July 17^th, from 9:00 A.M. to 12:00 P.M.
• Monday, July 20^th through Friday, July 24^th, BY APPOINTMENT ONLY

Any items not removed by July 31^st, 2015will be considered abandoned and resold.

***FOR RIGGING QUESTIONS PLEASE CONTACT DWAYNE RUPP OF L.W.P., Inc. AT 563-386-5794***

FLUIDS, OILS, & HAZARDOUS CHEMICALS: The buyer is solely responsible to properly remove and store in appropriate containers all fluids, oils, hazardous chemicals, etc., from machinery purchased. Buyer does hereby indemnify ATEC, the consignor, and the owner of the premises in which the machinery is located, from any and all claims, damages, and losses arising from buyer's actions or actions with respect to the machinery and the buyer's presence on the premises in which the machinery is located, including without limitation, injuries to persons or property and environmental violations or contamination. Risk of loss on any machinery shall pass to the Buyer upon payment in full to ATEC of all sums due from the buyer in respect to the machinery.

6.  MERCHANDISE – All items are being sold AS IS/WHERE IS without warranty or guarantee of any kind expressed or implied.  Neither the auctioneer nor the seller shall be responsible for discrepancy in description or nomenclature.  The auctioneer does not own any of the items in the sale and is working on behalf of the seller.  The auctioneer reserves the right to remove, on behalf of the seller, any items identified by the seller to have a clear defect or legal encumbrance not initially known and identified at the time of posting.  Neither the auctioneer nor the seller shall be held responsible for any issues related to the safe handling and transport of item(s) purchased, as removal is the responsibility of the buyer.

With regard to the items being auctioned:  If no bids are received for any particular item by the close of the auction, the secured party shall be deemed to have submitted a credit bid for such item, in an amount equal to 80% of the liquidation value of such item, as established by ATEC, Inc. prior to the auction.  Title to any such item shall thereinafter vest in the secured party submitting such credit bid, or its nominee.

IT IS YOUR RESPONSIBILITY TO CLARIFY ANY OF THE TERMS OR CONDITIONS PRIOR TO BIDDING ON ANY ITEMS. 

ALL QUESTIONS NEED TO BE DIRECTED TO: ATEC (314) 447-3200