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 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
circular. 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.
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.