DAYKIN ELECTRIC DISCONNECTS/TRANSFORMERS 480 VOLT MODEL MDGTA-05 (Qty 2)

Auction Conducted by G. W. Associates, L. L. C. referred to in these terms as GWA.

TERMS OF SALE-SURPLUS ELECTRICAL, CONTROLS, REPAIR AND OTHER

LOCATED AT 2001 10th Ave.

South Milwaukee, WI 53172

1.            Buyer is responsible for any applicable Sale and Use Taxes and will supply GWA/Seller documentation that is acceptable to the State of WI.  Should the state of WI reject such documentation, buyer will make the payment of said taxes immediately and agrees to defend GWA from any and all tax claims.  The sales tax liability remains the sole obligation of the purchaser.

2.            A Buyer’s Premium of 18% of the bid price will be added to the price of each item purchased to arrive at the total purchase price.

3.            GWA reserves the right to group, reduce, add or delete lots. In the event there is a dispute between two or more claims of entitlement as to the successful bidder, GWA reserves the right to re-offer the item in dispute or to declare the item sold at GWA’s discretion.  GWA reserves the right to bid on behalf of the owner.

4.            Any announcements made the day of the sale take precedence over catalog or other previously announced or documented information, but do not alter in any way the basic terms and conditions of sale.   Any additional Terms and Conditions will be announced at sale.

6.            Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item purchased at the sale. All removals are by appointment only.  Buyer is required to remove all merchandise within the stated timeframe which is on their invoice (May 6, 2016).  Items will be considered abandoned, and buyer shall loss all rights to said equipment without recourse or refund due from GWA or seller, after the removal deadline unless prior arrangements have been made in writing and approved by GWA/Seller.     

7.            Although information has been obtained from sources deemed reliable, GWA/Seller makes no warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained or the fitness for duty of any of the assets.  All assets being sold “AS IS, WHERE IS”.

8.            If for any reason an item shall become non-deliverable, GWA/Seller shall not, in any event, be liable for non-delivery, or for any other matter or thing, to any Buyer of any lot, other than for the return to the Buyer of monies actually paid to GWA/Seller for said lot, should the Buyer be entitled thereto.  No adjustments will be made after the merchandise is removed from the sale site.

9.            Full payment is due to G. W. Associates within 48 hours of receipt of invoice or prior to removal, whichever occurs first, in cash, certified check, cashier’s check, company check with bank letter of guarantee or wire transfer.  Time is of the essence as to payment and removal portions of this agreement.

10.           All assets being sold “as is, where is” and buyer acknowledges they have inspected all assets prior to bidding.  While all care was taken in gathering information on the equipment that is for sale, GWA/Seller will not be held responsible for the correctness of the descriptions.  INSPECT BEFORE YOU BUY!

11.         All persons are attending at their own risk and liability without recourse on GWA/Seller.  Further the undersigned and their employees or agents agree to hold GWA/seller and their agents and employees harmless from all claims of any kind or type. 

12.         All sales are in US Dollars.

13.         By registering for this auction you are agreeing to these terms and conditions and you are signifing that you have the authority and you are binding your company, yourself (as an individual and /or employee) and any agents or persons who conduct business using your buyers number or under your employment or control.  This includes liability as to payment and all disclaimers.

14.         Any controversy or claim arising out of or related to this Agreement, or any alleged breach of the terms hereof, shall be settled by arbitration in accordance with the rules, procedures, and regulations promulgated by the American Arbitration Association (“Arbitration Proceeding”).  The arbitration hearing shall be held in the State of Missouri.  The Parties hereby agree that the award rendered by the person conducting the Arbitration Proceeding (“Arbitrator”) shall be final and nonappealable, and judgment may be entered upon the award in any court of competent jurisdiction.  The Arbitrator shall not have the authority to award punitive damages against either Party.  The Party who files notice of demand for an Arbitration Proceeding (“Initiator”) must assert  in such demand all claims then known to the Initiator against the other Party (“Respondent”), and the Initiator may amend its demands and claims only with the consent of the Arbitrator.