MRO Auction, LLC. Terms and Conditions

Set forth below are the Terms and Conditions (the "Terms") that shall apply
to any purchase by any party (a "Buyer") either directly from MRO Auction,
LLC. (MRO) or in a transaction (a "Transaction") in which MRO serves as
broker, agent, liquidator or auctioneer for any third party owner. The Terms
apply to all Transactions, including without limitation, public auctions
conducted by MRO and direct purchases by Buyer of any item either
before, after or independent of any public auction. By using or accessing
any and all MRO services and or Websites you agree your have read and
understand the Terms stated herein and are bound to these Terms. You
may not use or access any and all MRO services if you do not agree to the
Terms stated herein. If you do not understand any or all the Terms and
Conditions herein please contact MRO at info@mroauction.com for further
assistance.
TERMS AND CONDITIONS ("Terms")
1. All machinery, equipment, merchandise and other items (the "Goods")
are sold on an "AS IS/WHERE IS" basis with no warranties or
representations whatsoever either expressed or implied. Neither MRO nor
the consignor makes any warranties or representations of any kind or
nature with respect to the property or Goods value, and in no event shall
they be responsible for correctness of description, genuineness, attribution,
provenance, authenticity, authorship, completeness, condition of the
property or estimate of Goods value. No statement (oral or written) in the
catalog, at the auction, or elsewhere shall be deemed such a warranty or
representation, or any assumption of responsibility. Prospective bidders are
urged to contact MRO directly for detailed information regarding any lot.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE
WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE AND
MERCHANTABILITY are expressly disclaimed.
2. Registration. Buyers must register prior to bidding at any auction sale
and must be of legal capacity to enter into this agreement. All bidders must
provide their name, company (if applicable), mailing address and phone
number prior to the auction. By registering you represent and warrant any
and all Buyer Information is accurate and complete. It is solely the Buyers
responsibility to maintain current Buyer Information for completeness and
accuracy. MRO reserves the right to deny and or terminate Registrations at
any time at its sole discretion without notification. MRO reserves the right to
deny usage and access of MRO Services and Websites at any time without
notice or liability to any persons or third parties. When applicable,
Electronic bidders are required to provide a valid email address and Visa or
MasterCard number. At its discretion, MRO may charge a registration fee
for Electronic bidding. This fee will be clearly displayed during the
registration process. THE BIDDER AUTHORIZES MRO TO CHARGE
LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING
THE REGISTRATION PROCESS. (See section 9 "Default" below.)
3. Deposits. MRO requires a deposit of not less than twenty five percent
(25%) of the Buyer`s TOTAL PURCHASE PRICE by the end of sale day -
with the balance due by the end of the next business day. This can be in
the form of cash, a cashiers check, or business check with a bank letter of
guarantee for Onsite auctions. For Electronic bidders, at its discretion,
MRO may contact bidders via email or telephone before or during the sale
to provide a bank letter of guarantee or wire transfer as a deposit. If MRO
does not receive a response from its attempts to contact Buyer or if the
Buyer does not provide a deposit, MRO reserves the right to refuse or
cancel Buyer`s bids and re-sell Goods.
4. Invoices & Payment Instructions. For Onsite and Webcast auctions,
winning bidders can request a printed paper invoice from the Accounting
Manager at the sale location during or after the sale. Electronic bidders will
be sent an electronic invoice to the email address provided during
registration. Invoices can be faxed upon request. Detailed payment
instructions for each sale are available in the printed lot catalog at the sale
location on the day of the sale. Electronic bidders will be sent detailed
payment instructions via email along with their invoice.
5. Payments. MRO must receive the balance of the total purchase price no
later than the close of business on the Final Payment Date. All payments
must be by cashier`s or certified check, federal wire transfer of immediately
available funds or a corporate check accompanied with a bank letter of
guarantee, and all of the foregoing must be in form, scope and substance
acceptable to MRO. Credit cards are accepted for payment, Electronic
bidding registration and for Liquidated Damages in the event of a default. If
paying by credit card, the exchange rate for sales conducted in foreign
currencies will be posted the day of the sale and will be based upon the
current currency conversion rates. Without limiting MRO discretion, no
corporate checks without a bank guarantee and no personal checks will be
accepted. No title shall pass to Buyer until the total purchase price and all
Taxes have been paid to MRO in collected funds.
6. Taxes. Buyer must also pay to MRO on or before the Final Payment
Date, all sales, export, use and other taxes due to any federal, state or
local taxing authority (the "Taxes") as a result of Buyer`s purchase,
including without limitation, any taxes arising from any Buyer`s Premium
(as defined below). To receive the benefit of any tax exemption, Buyer
must supply MRO with a sales tax exemption certificate acceptable in form,
scope and substance to MRO in MRO sole discretion.
7. Buyer`s Premium. MRO in its sole discretion may impose a buyer`s
premium ("Buyer`s Premium") on any Goods sold. The Buyer`s Premium is
a percentage that is added to the final purchase price of any item. For
Onsite auctions, MRO shall charge and collect from each successful bidder
a 15% buyer’s premium if paying by credit card or 12% buyer`s premium if
paying by cashier’s or certified check, federal wire transfer or corporate
check for each sale at the auction, in addition to the purchase price as bid.
8. Removal. (1) Buyers or their Agents must remove all Goods purchased
before the final removal date and time announced by MRO at the auction
(the "Removal Date"). (2) No Goods shall be removed until the full
purchase price and all applicable taxes thereon have been received by
MRO in the form required herein. Any Goods not removed on or before the
Removal Date shall be subject to storage charges that MRO may in its
discretion impose. ANY ITEMS NOT REMOVED ON OR BEFORE THE
REMOVAL DATE SHALL BE DEEMED ABANDONED AND MRO SHALL
HAVE NO FURTHER OBLIGATION TO BUYER WITH RESPECT TO
SUCH ITEMS. (See also #8C.)
8A. Buyer shall be responsible for the safe and proper removal of any
Goods purchased by Buyer. MRO does not pack, ship, store, crate or rig
items with the exception of items located at MRO Warehouse, 7214
Murthum Ave, Warren Michigan, USA. Buyers may either pick up Goods at
the designated auction site personally or can contract with a third party
agent to manage the removal process for them. Before Goods can be
removed by an Agent, Agent must provide MRO with (1) proof of payment
in full (Paid In Full Invoice) and (2) an "Agent Release Authorization" form
which allows MRO to release items to a third party contractor for shipping,
crating, rigging or packing purposes.
8B. Goods weighing more than 150 pounds must be removed by a
qualified, insured rigger. Before any removal, Buyer must provide MRO
with a certificate of insurance from the rigger, which certificate must be in
form, scope and content acceptable to MRO in MRO sole discretion.
Without limiting MRO discretion, such certificate must show that the rigger
carries comprehensive liability insurance written by an insurance carrier of
national standing and in an amount of not less than two million dollars
($2,000,000.00). Without limiting the generality of the foregoing, Buyer shall
restore and repair all real and personal property that is altered or damaged
as a result of Buyer`s removal of the Goods. MRO shall have no
responsibility to disconnect utilities to the sold asset, including electric, gas,
waste and water lines. 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 MRO, the owner
of the Goods and the owner of the premises in which the Goods are
located, from any and all claims, damages, and losses arising from Buyer`s
actions or actions with respect to the Goods and Buyer`s presence on the
premises in which the Goods are located, including without limitation,
injuries to persons or property and environmental violations or
contamination. Risk of loss on any Goods shall pass to the Buyer upon
payment in full to MRO of all sums due from Buyer in respect to the Goods.
8C. Small Lot Removal. MRO shall have no responsibility whatsoever for
any missing or lost items that can be removed by hand if such items have
not been removed within seventy-two (72) hours of the conclusion of the
sale. There will be NO removal of any lots until the auction is complete.
9. Default. Bidders must bid only on those items they are prepared to pay
for and remove in accordance with the terms and conditions of this sale. All
items awarded to high bidders are contractually theirs and must be paid for
by the Final Payment Date and removed by the Final Removal Date. IN
THE EVENT BUYER FAILS TO PERFORM CONTRACTUAL
OBLIGATIONS (PAYMENT AND REMOVAL) AS SPECIFIED IN THIS
INVITATION TO BID, THE FOLLOWING ACTION APPLIES: PURCHASER
WILL AUTOMATICALLY BE PLACED IN DEFAULT. THIS IS YOUR
OFFICIAL NOTICE OF DEFAULT. Upon default, the purchaser shall lose
all right, title, and interest which he/she might otherwise have acquired in
and to such property as to which default has occurred. MRO will re-market
and re-sell this property.
9A. Payment Default. Failure to pay invoices in full by the Final Payment
Date in accordance with payment terms will subject Bidder to pay as
Liquidated Damages a sum equal to the lesser of (1) 20 percent of the
invoice price of the item(s) as to which the default has occurred, or (2) the
full amount of the difference between the original invoice price and the re-
sold price plus any expenses incurred to re-market or re-sell these items. IF
MRO HAS NOT RECEIVED PAYMENT FOR WINNING BIDS WITHIN 24
HOURS OF THE FINAL PAYMENT DATE, THE BIDDER AUTHORIZES
MRO TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD
LEFT ON FILE DURING THE REGISTRATION PROCESS.
9B. Removal Default. Failure to remove items by the Final Removal Date in
accordance with removal terms will subject Bidder to pay as Liquidated
Damages the full amount of the expenses incurred to store or transport
items until they are re-sold. IF BUYER HAS NOT REMOVED ITEMS
WITHIN 24 HOURS OF THE FINAL REMOVAL DATE, THE BIDDER
AUTHORIZES MRO TO CHARGE LIQUIDATED DAMAGES TO THE
CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.
10. After Buyer has removed any item from MRO possession, MRO shall
have no obligation to make any adjustment or accommodation to Buyer
because of any mistake in quantity or other defect or problem with respect
to such item. Buyer must make all requests for adjustments in writing to
MRO before any item is removed from the premises where the auction is
conducted.
11. MRO shall not be responsible for any damages, loss or theft of Goods
except in the case of MRO willful misconduct. Without limiting the
foregoing, MRO shall not be responsible for damages or losses caused by
strikes, civil disorders, or acts of God.
12. If for any reason MRO is unable to deliver any Goods purchased by
Buyer, MRO sole liability shall be to return all sums paid by Buyer to MRO
in respect of such Goods.
13. Minimum or Reserve Prices. MRO, in its sole discretion, reserves the
right to establish a reserve or minimum price on any Goods without having
to announce, post or publish notice to attendees and buyers at any auction.
MRO reserves the right to confirm or reject the final bid. Further, MRO,
and/or its affiliates or subsidiaries, may bid at the auction either for its own
account or on behalf of a third party.
14. Absentee Bids. By completing an "Absentee (Proxy) Bidder Form,"
Bidders may appoint MRO to be an agent and proxy for the sole purpose of
purchasing the items listed when the Bidder CANNOT bid on the day of the
sale. ALL BIDS ARE FINAL AND BINDING and DO NOT include any
applicable buyer`s premiums and sales taxes. MRO will bid up to the
specified maximum bid amount to win the item, using only the amount
needed to win the item. MRO has complete discretion whether and when to
accept Proxy bids. The auctioneer`s announcements at the time the lot is
sold take precedence on any and all published materials. Proxy bidders will
be notified only if they have been declared the high bid. Notification will
take place in the form of an electronic invoice which will be sent to the
email address provided during registration.
15. MRO, in its sole discretion, reserves the right to refuse the bid of any
person without providing any notice or reason therefore. MRO reserves the
right to deny the usage and access by any person or third party of any and
all MRO Services and Websites without notification.
16. MRO, in its sole discretion, shall control all bidding increments and
advances at any auction. MRO reserves the right to reject any bid that is
only a minimal increase over the preceding bid, that is not commensurate
with the value of the item being offered or that MRO believes was made
illegally or in bad faith. In the event of a dispute among bidders, MRO may,
in its sole discretion, either accept what it deems to be the final bid or solicit
further bids on the item in dispute. No returns or refunds will be permitted,
unless authorized by the seller in writing.
17. MRO reserves the right, in its sole discretion, to sell items advertised as
a public auction sale, on a piece by piece basis or as a complete lot.
Without limiting the generality of the foregoing, MRO may accept a
complete lot bid and then conduct an item by item auction which auction
shall be effective only if the total proceeds there from exceed the amount of
the complete bid.
18. All information provided by MRO to Buyers, including without limitation,
any advertising, lot sales catalogs or otherwise, is subject to deletions,
errors, additions, and changes without notice. Although information is
gathered from sources thought to be reliable, MRO shall have no
responsibility whatsoever for any information provided to any attendee or
buyers. All buyers shall rely solely on their own investigation and inspection
of any Goods.
19. MRO reserves the right to amend any and all of the Terms and
Agreements stated herein at any time without notification at MRO sole
discretion. It is the Buyers responsibility to read and review the Terms and
Conditions for each sale. MRO provides the Terms and Conditions through
its Websites and in printed form at on-site auctions.
20. If MRO is selling or auctioning any Goods on behalf of a third party
owner, MRO shall act as an agent only and shall have no liability
whatsoever for the acts of any owner/principal.
21. Buyers agree to comply will all US export control and related laws, and
acknowledge that MRO is not the exporter of any purchased item. Certain
items offered for sale at the auction may constitute "Restricted
Technology." Under federal law, such items may not be shipped outside the
United States. MRO makes no representation or warranty concerning, and
has conducted no investigation to ascertain which items, if any, constitute
Restricted Technology.
22. The buyer acknowledges that any software or intellectual property
rights attaching to a lot or lots may not be the property of the seller or
capable of transfer by the seller. Neither the seller nor the Auctioneer is in
any way authorizing the use by the buyer of such software or intellectual
property rights and any use of such software or exploitation of such
intellectual property rights.
23. It is expressly brought to the buyer`s attention that, at the time of sale,
any item of plant, machinery or equipment contained in the lot(s) may not
necessarily comply with the Health and Safety at Work Etc. Act 1974,
Environmental Protection Act 1990 or any other Acts, Regulations,
Directives or their applicable laws or equivalent or similar laws in any
relevant jurisdiction and could contain blue or white asbestos, hazardous
substances, dangerous chemicals etc. which if not handled correctly during
their removal from a site could be in breach of the Health & Safety at Work
Etc. Act 1974, Control of Substances Hazardous to Health Regulations
2002 or any other current legislations covering the use of such substances
in a working environment in the United States or any other relevant
jurisdiction.
24. Buyers acknowledge that an auction site is a potentially dangerous
place, Flammable, noxious, corrosive and pressurized substances may be
present. Heavy equipment may be operated and electrical circuits may be
live. Every person enters the auction site at his or her own risk with notice
of the condition of the premises and the activities that will be or have been
conducted on the premises. No person shall have any claim against MRO,
the seller or their respective agents for any injuries sustained or for
damages to or loss of property that may occur at the auction site.
25. If the Buyer fails to comply with any of the Terms, MRO shall have all
rights and remedies available to it at law and in equity. Without limiting the
generality of the foregoing, MRO may retain all deposits and partial
payments received from Buyer and may resell any Goods that Buyer fails
to purchase. Buyer shall be responsible for all costs, losses, and damages
suffered by MRO (i) as a result of Buyer`s breach of any of the Terms,
including without limitation, lost profits and consequential damages, and (ii)
incurred in connection with the enforcement of MRO rights, including,
without limitation, legal fees and costs and expenses related to the resale
of Goods, including storage and rigging fees.
26. The following is specific to the access and usage of MRO Websites
including and not limited to any and all features and applications: a. Each
Registrant will specify a unique User Name and Password and it is solely
the responsibility of the Registrant to maintain the confidentiality of this
User Name and Password. b. Registrants are solely responsible for any
and all transactions or transmissions using their User Name and Password
c. MRO is not responsible for any and all unauthorized or compromised
usage of the Registrant’s User Name and Password. Registrants are
responsible for contacting MRO in writing for any and all unauthorized
usage of their User Name and Password. d. Registrants agree they will not:
i. Disrupt, interfere or create outages to computer networks that directly or
indirectly affect MRO Websites. ii. Falsely misrepresent or impersonate any
other person or entity. Registrants are forbidden from misrepresenting a
Registrant’s employment by or affiliation with any third party. iii. Registrants
are forbidden from posting, uploading, transmitting, publishing or
distributing any and all information that contains viruses, code, files or
programs with the malicious intent of affecting MRO Websites. iv.
Registrants agree they will not copy, modify, reproduce, distribute or sell
any information or material provided through MRO Websites with the intent
of commercially MRO Services and Websites. e. MRO is not responsible
for any and all products, content, information or material provided by links
to or statements regarding third party services. This includes but not limited
to riggers, shippers, partners and any third party services listed. f.
Registrants agree MRO and its affiliates, including partners, officers,
directors, employees, agents, shareholders or co-branders, are not
responsible for any and all damages, actual or alleged, resulting from the
downloading of any information or materials from MRO Websites.
27. Buyers agree they will not participate in any bidding practices with the
intent of manipulating the bidding. Any and all forms of collusion between
Buyers are forbidden. Buyers agree they will not place bids under false
names or Buyer Information.
28. MRO reserves the right to withdraw or sell any assets contained in an
auction prior to or proceeding the stated auction period without notification.
MRO reserves the right to temporarily or permanently end an auction prior
to or during the stated auction period at is sole discretion without
notification. MRO, in its sole discretion, reserves the right to extend the
stated auction period without notification.
29. Buyers agree they will defend, indemnify and hold harmless MRO,
including its affiliates, directors, officers, employees, agents, shareholders,
co-branders, or partners, from and against any and all claim, loss, damage,
liabilities, judgments, fees and expenses incurred by MRO, including its
affiliates, directors, officers, employees, agents, shareholders, co-branders,
or partners, through the use of MRO Services and Websites.