TERMS AND CONDITIONS OF AUCTION SALE
Subject to amendments and modifications announced by the Auctioneer at the time of the
auction, any person participating in the auction shall be bound by the following terms
and conditions.
All announcements made on the auction day shall take precedence over previously
distributed information.
Anyone outside of the continental United States will be required to wire transfer a
minimum deposit of $5000 to be approved for all non-onsite bidding. All deposits must
be received 24 hours before the sale.
All bids constitute a legally binding contract and bidders will be legally obligated
to make payment and remove items in accordance with the terms and conditions of the
sale.
All payments shall be by way of cash, certified check, wire transfer and/or a company
check accompanied by a bank letter of guarantee payable to Asset Sales, Inc. Your
bank letter should be similar to the following: “Mr. (Customer Name) is a customer of
this bank. This bank will guarantee unqualified payment to Asset Sales, Inc. on the
account listed herein up to the amount of $_______. This letter is valid until
(date).” All bidding and invoicing will be in US Dollars ($), we will accept all
currency according to the terms. The purchase price must be paid in full before or
immediately after the conclusion of the auction. The auctioneer reserves the right to
put articles back up for auction if payment is not received at or before the
conclusion of the sale. All invoices must be checked on the day of the sale as no
adjustments will be made thereafter. Purchases that are not removed within the
designed time will be considered abandoned.
Taxes arising on a sale, shall be paid to the auctioneer at the time of sale.
Purchasers claiming exemptions from taxes shall provide proof satisfactory to the
auctioneer of their entitlement to claim such exemption. In the absence of proof
satisfactory to the auctioneer, taxes shall be paid by the purchaser.
All articles will be sold to the highest bidder conforming to the bid process,
provided that the Auctioneer reserves the right to sell articles by individual group
lots and "En Bloc" as he deems appropriate. The auctioneer reserves the right to sell
on behalf of third parties, its own account or on the account of others. Should any
dispute arise between two or more bidders or as to any bid, the lot in question may,
at the auctioneer`s discretion, be immediately put up again and resold. The auctioneer
shall regulate all matters relating to the conduct of the auction and his decision
shall be final and binding on all bidders. The auctioneer shall at all times be
entitled to make changes in (the composition of) the lots or to withdraw them, up
until the last moment before the sale, refuse bids without having to state the
reasons, in which case the previous bidders shall be bound to their bids and to
correct himself.
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.
Asset Sales, Inc. reserves the right to correct any mistakes or typographical errors
made by it or its behalf in any of its announcements or documents, without the ability
of deriving right from the corrected announcements.
All sales shall be concluded on the fall of the hammer or as indicated by the
auctioneer and no purchaser may thereafter revoke his bid. Title to the lots purchased
shall not pass until payment in full of the purchase price is received.
Rigging/Removal of sold equipment is the sole responsibility of the buyer and must be
completed by the posted date. Rigging/Removal may not begin until payment has been
made in full and the auction sale is complete. All heavy rigging requiring the use of
forklifts, cranes, etc whether performed by the customer or a rigging company, must
present a certificate of insurance for $1,000,000.00 naming Asset Sales, Inc. as the
insured.
Recommendation or approval of Riggers by Asset Sales, Inc. by any employee or agent of
Asset Sales, Inc. or by any affiliated entity of Asset Sales, Inc., shall be done only
as an accommodation to the Buyer. Such recommendation or approval shall not cause
Asset Sales, Inc. to be liable in any way for any act or omission of any such Rigger.
Selection of a Rigger is solely within the discretion of the buyer, and Buyer
acknowledges and agrees that it shall have no rights or remedies against Asset Sales,
Inc., any employee or agent of Asset Sales, Inc. or any affiliate of Asset Sales, Inc.
based upon any act or omission by a Rigger.
ALL SALES ARE FINAL, ON AN "AS IS - WHERE IS", "IN PLACE", "WITH ALL FAULTS" BASIS
WITH NO CONDITIONS OR WARRANTIES WHETHER EXPRESSED, IMPLIED, STATUTORY OR OTHERWISE,
INCLUDING WITHOUT LIMITATION, WARRANTIES OR CONDITIONS AS TO TITLE, DESCRIPTION,
FITNESS FOR PURPOSE, QUANTITY, QUALITY, MERCHANTABILITY, STATE, CONDITION, LOCATION OR
OTHERWISE. NO SALE SHALL BE INVALIDATED AND THE AUCTIONEER SHALL HAVE NO LIABILITY FOR
A MISDESCRIPTION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT
OR OTHERWISE. DESCRIPTIONS HAVE BEEN PREPARED FOR GUIDE PURPOSES ONLY AND SHALL NOT BE
RELIED UPON BY THE PURCHASER FOR ACCURACY OR COMPLETENESS. BY SUBMITTING A BID, THE
BUYER/BIDDER AFFIRMS IT HAS INSPECTED ALL ITEMS BEFORE BIDDING. PURCHASERS SHALL BE
DEEMED TO HAVE RELIED ENTIRELY UPON THEIR OWN INSPECTIONS AND INVESTIGATIONS.
No article shall be removed unless paid in full and all articles purchased shall be
removed in the time allocated by the auctioneer or as stated on the invoice. No item,
no matter how small or how far the purchaser has to travel, may be removed until the
close of the auction sale. The purchaser shall be responsible for all costs of removal
and shall be liable for any damage, including without limitation, any environmental
damage, caused during or as a result of the removal. Purchasers shall comply with all
environmental laws and regulations and all requirements established by the auctioneer
for the removal of articles, including requirements as to bonding of movers.
Where available, documents of transfer, including motor vehicle ownership documents,
which are in the possession of the auctioneer, will be provided to the purchaser
within 7 days following the auction or as soon thereafter as such documents are
available.
If the auctioneer is unable to deliver an article sold to a purchaser due to fire,
theft, or any other reason whatsoever, the auctioneer shall reimburse the purchaser
for all monies paid to the auctioneer in respect to the article and the auctioneer
shall have no further liability to the purchaser arising from or relating to such
loss, including without limitation, any damages for loss of profits.
The auctioneer reserves the right to refuse any applicant the privilege of bidding or
attending the auction and may revoke such privilege at any time.
Time will be of the essence. If a purchaser fails to make payment or remove goods
within the time periods announced by the auctioneer at the beginning of the auction,
the auctioneer may resell the article purchased by auction, a private contract or
otherwise, as the auctioneer at his discretion deems advisable, and the purchaser
shall be liable for the shortfall and all costs and expenses, including but not
limited to interest rates (a minimum of 1.5% per month or 18% per annum), legal fees,
moving and storage (a minimum rate of $2.00/sq ft per month) and commissions, incurred
in such resale.
No purchaser may assign, transfer or dispose of his rights in any article purchased
before he has paid the purchase price in full. No reselling will be allowed from the
premises.
Asset Sales, Inc. shall have the right to make image and audio video recordings of the
auction, to use said recordings and if deemed appropriate, to make this public.
Participants give their permission by participating in the auction.
All risk of loss shall pass to the purchaser at the time of payment excepting; the
auctioneer shall reimburse the purchaser for all monies paid to the auctioneer in
respect to any article that the auctioneer cannot deliver due to thief or
disappearance. The auctioneer shall have no further liability to the purchaser arising
from or relating to such loss, including without limitation, any damages for loss of
profits.
The buyer hereby assumes and does agree to indemnify and hold the auctioneer and
seller harmless from any current or future claim which shall pertain to the fitness,
use, damage, safety, injuries to persons or property that may have been caused by or
during removal or use of item(s) purchased, or any other claim regarding the use of
that asset as purchased. All buyers acknowledge and accept with their signature, the
terms of the sale printed on these registration cards/bidder paddles.
I acknowledge that by filling out this form, I give my written consent to Asset Sales,
Inc. to communicate to me via e-mail to the address(es) listed herein. I confirm that
I have authorization to provide consent for e-mail to the e-mail address(es) that I
provide below, and further agree to indemnify and hold harmless Asset Sales, Inc. for
any action or loss arising from any incorrect or false e-mail address(es) provided
herein. I acknowledge that, should I desire to revoke this written authorization, I
will inform Asset Sales, Inc. of such revocation.
This sales transaction shall be governed by and construed in accordance with the local
laws of the state of North Carolina, USA. The venue for trial or resolution of any
dispute arising out of or related to this transaction shall be the North Carolina
State Courts sitting in Mecklenburg County, North Carolina, USA. If any provision of
these terms and conditions shall be held invalid, illegal, unenforceable or
inoperative, the balance of the terms & conditions shall remain in full force and
effect as if such provisions had not been included.
The auctioneer is acting as agent only and is not responsible for the acts of its
principles.
These terms and conditions with any amendments or modifications expressly made by the
auctioneer at the time of the auction constitute all the terms and conditions with
respect to the sale of articles at this auction. There are no representations,
warranties, terms, conditions, undertakings or collateral agreements except as
hereinabove provided.
A 13% Buyer`s Premium will apply to all onsite purchases. 16% Buyers Premium for
online purchases.
REGISTRATION & BIDDING ONLINE:
If you plan to bid with Bidspotter.com, you must be pre-approved by Asset Sales, Inc.
The pre-approval process is easy but necessary. Asset Sales, Inc. will verify
telephone number and confirm agreement to the Terms & Conditions.