WILLIAMS & LIPTON COMPANY

32316 GRAND RIVER AVENUE

SUITE 101

FARMINGTON, MICHIGAN  48336

(248) 478-2000  

FAX (248) 478-4046

Website: www.williamsandlipton.com

Our brochure can be viewed from our website!

AUCTION TERMS AND CONDITIONS:

There is a 16% online Buyer’s Premium applied to all online bidders who purchase at this sale. 

NOTICE:  ALL BIDDERS AND OTHER PERSONS PARTICIPATING IN THIS SALE AGREE THAT THEY HAVE READ

AND HAVE FULL KNOWLEDGE OF THESE TERMS AND CONDITIONS AND AGREE TO SUCH TERMS AND CONDITIONS AS STATED! YOUR REGISTRATION ON THIS WEBSITE AND THIS AUCTION IS YOUR ACKNOWLEDGMENT.

IDENTIFICATION - All purchasers are required to give their full name, company name, address, phone number, drivers license number, signature, bank information and email address. This email address will be used to send you your auction invoice for your purchases.

TERMS - The buyer does hereby assume and does agree to indemnify and hold the auctioneer and seller harmless from any future claim which shall pertain to the fitness or use of the assets being purchased.

DEPOSIT - Each bidder is required to make a $1,000.00 deposit by mail, ACH or wire transfer in order to particpate in this auction.  Anyone outside of the continental United States will be required to wire transfer a minimum deposit of $5000.00 to be approved for all bidding. Your deposit must be received by our bank or at our office before you will be approved to bid at this auction.  All Deposits received in any form (cash, check, ach, wire transfer, counter credit, money orders or cashiers check) to be applied towards any auction purchase or will be refunded by Williams & Lipton Company via company check at the time the final Auction Report of Sale is completed and the funds are released from escrow, generally 7 to 10 days from the sale date. We do not accept Credit Cards.

REMOVAL DATES:  The removal date for this auction is on Monday, July 14th, 2012 at 9 a.m. EST until 4 p.m. NO EXCEPTIONS. THERE WILL BE A $500.00 COST, PER DAY, OR ALL BUYERS WHO DO NOT HAVE THEIR PURCHASES REMOVED.

REMOVAL - No lot can be removed until Monday, July 14th, 2012.  Removal is at the expense, risk and liability of the purchaser.  Purchases will be released only upon presentation of a paid invoice.  The auctioneer will not be responsible for items not removed within the time allowed, but does have the option to remove and store, at the risk and expense of the purchaser, any article purchased but not paid for and removed within the time limit mentioned earlier.  It is the responsibility of the buyer to completely remove any article purchased by him and should any part of any such article be abandoned, the buyer will be liable for any expense involved in its removal. Additionally, if the equipment is not removed by the specified removal date, each individual company will be charged $500.00 per day to do any removal.

MANNER OF PAYMENT – All bills must be paid within 48 hours of the end of the sale.  We will accept our company check under the following conditions a.) the check is certified at time the of purchase b.) you submit a letter from your bank at time of purchase, guaranteeing unqualified payment of your check.  All checks for deposits and balances due are to be made payable to the order of WILLIAMS & LIPTON COMPANY. All checks are to be cashier's or certified funds.  We do not accept credit cards!  All bids must be paid to representatives of the auctioneer on the premises.  The full purchase price, on all lots purchased, must be paid prior to the removal of any of the lots.  EXAMPLE Please show this letter to your bank.

To:  Williams & Lipton Company, 

Farmington, Michigan

Mr. (Customer Name) of

(Company Name) is a customer at this bank.  This bank will guarantee irrevocable, unqualified payment for full face value stated on this letter to Williams & Lipton Company for checks drawn on (account number) for an amount up to $_____.00.  This letter is Valid for seven (7) days and for the (Name of Auction) ONLY.

CONDITION OF ARTICLES SOLD - The auctioneer shall not be held responsible for the correct description, genuineness, authenticity of or defect in any lot, and makes no warranty in connection therewith.  No sale will be set aside or allowance made for any incorrectness, error in cataloging or any imperfection not noted.  No allowances or deduction will be made on damaged articles.  All goods are exposed for public exhibition and sold "AS-IS" "WHERE-IS" and without recourse.

CLAIMS - No claim will be allowed for shortages after 24 hours or after removal of goods from the premises. 

RESPONSIBILITY FOR NON-DELIVERY - The auctioneer is not, in any event, liable for the non-delivery, to any purchaser, of any lot purchased.

COMPLIANCE WITH TERMS OF SALE - In default of payment of bill in full within the time limit stated, the auctioneer may retain all monies received as deposit or otherwise as liquidated damages.  Any lot not fully paid for within the time stated will be resold at public or private sale without further notice.  Any deficiency, together with all expenses and charges of resale will be charged to the defaulting purchaser.

RISK TO PERSON AND PROPERTY - Any person attending inspection day, auction sale day or during the removal period assume all risks of damage or loss to person or property and specifically release the auctioneer and his principal from any liabilities.  Neither the auctioneer nor his principal is responsible for any defect or the condition of the premises on which the sale is held.

ADDITION TO OR WITHDRAW FROM SALE - The auctioneer reserves the right to withdraw from the sale any property listed and also to add property not listed to this sale.  Also, the auctioneer may group lots or subdivide lots in order to benefit the seller.  The auctioneer reserves the right to sell all the property listed in bulk.

WILLIAMS & LIPTON COMPANY

32316 Grand River Avenue,

Suite 101

Farmington, Michigan  48336

(248) 478-2000   FAX (248)

478-4046

Website: 

www.williamsandlipton.com

AUCTION TERMS AND CONDITIONS

SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE – When items are sold in this manner, the purchaser will be billed accordingly.  If upon delivery a shortage exists, the purchaser will receive a refund at the date of purchase.  However, if there is an excess the purchaser will be billed in the same manner and required to take the excess.

DISPUTE BETWEEN BIDDERS – If any dispute arises between bidders, the auctioneer may decide the same or put the lot up for sale again at once.  The auctioneer’s decision is final and absolute.

RESERVE – The auctioneer reserves the right to accept or reject any and all bids.  If there is a reserve on a lot, the auctioneer has the right to bid on behalf of the seller. If there is a reserve on any particular single item, the auctioneer can reject the highest bid subject to the reserve after the conclusion of the sale.  The auctioneer may disclose this information if he so chooses.

RECORDS – The record of sale that is kept by the auctioneer and his bookkeeper will be taken as final word in the event of a dispute.

AGENCY – The auctioneer is only an agent and not responsible for the acts of his principal.

THIRD PARTY PICK-UP – Any buyer that is going to have someone other than himself pick-up his purchases must notify that auctioneer in writing.

ADDITIONAL TERMS AND CONDITIONS – The Auctioneer reserves the right to sell subject to reserve and to purchase for its own account and/or for the account of others, whether by verbal or written proxy, all subject to prior sale.  The auctioneer reserves the right to refuse any applicant the privilege of bidding or attending at the auction and may revoke such privilege at any time.  The auctioneer may add other terms and conditions prior to the start of this sale.

WE APPRECIATE YOUR ATTENDANCE – Please present any questions or requests at once to the our office at 248-478-2000. We hope that you will enjoy our auction methods and that you are successful with your purchases. 

PROCEDURES FOR BUYERS OR RIGGERS REMOVING EQUIPMENT

Following are the terms for equipment disconnect and removal.  All Buyers and their contractors and their helpers, who participate in the disconnect and/or removal of the equipment are required to review, acknowledge, accept and abide by the following before commencement of any removal activity.  Rigging is the total responsibility of the buyer.  Williams & Lipton Company does not do any rigging or assisting in anyway in the rigging process.  The removal deadline will posted around the auction facility.  No extensions will be granted.  Additional terms and conditions may be announced and required by the Auctioneer.

1.            Buyer/Rigger must present the original yellow copy of the customer invoice to authorized Williams & Lipton Company personnel prior to removal of any equipment.

2.            No items, no matter how small, may be removed while the Auction is in progress.  We will stay one hour after the Auction is completed for removal of small items.  All small items must be removed by 4 PM on the day following the Auction.

3.            All Buyers/Riggers must present authorized Williams & Lipton Company personnel with a liability and workmen’s compensation insurance certificate in the amount of at least $1,000,000.00 prior to commencing any removal activities.

4.            Should any pits, floor bolts or hazards of any type exist after removal of equipment, it is the responsibility and cost of the Buyer/Rigger to guard these areas using generally accepted safety practices, such as safety tapes, pipes or bars welded in place, or suitable safety barrier acceptable to Williams & Lipton Company.  All floor bolts and/or anchoring fasteners are to be cut flush to the floor and the area left broom clean.  All electric wiring and utility piping must be safely disconnected at the incoming main switch or valve, which will remain with the building.

5.            Machines are to be staged for loading in the area assigned by Williams & Lipton Company.

6.            Any hydraulic fluid or oil leaks are the Buyer/rigger’s responsibility to clean up.  Buyer/Rigger must take full responsibility for and exercise all reasonable care to ensure that there is no release to the environment of any hazardous wastes or substances as defined in applicable Federal, State and Local Statues, Regulations, Rules or Ordinances.

7.              It is the responsibility of the Buyer/Rigger to disconnect all electrical power to the equipment.  Please check to make sure that the power is off to the machines before disconnecting.

8.            No trucks are to be left running in an enclosed building.  Williams & Lipton Company is not liable for equipment or tools left on premises.

9.            Liable for damages-Any surface or structural damage to walls, ceilings, floors, overhead doors, gates, etc. will be the Buyer/Rigger’s responsibility.  Williams & Lipton Company personnel are instructed to report damage to the Home Office and Plant personnel immediately.  Buyer/Riggers will not be permitted to leave with equipment until repairs are made.

10.          Theft will not be tolerated and we reserve the right to inspect all trucks, tool boxes and rigger cases.  Instances of theft will result in the immediate termination of removal privileges and full prosecution by law.