LINCOLN ELECTRIC IDEALARC CV-400 MIG WELDER POWER SOURCE

TERMS AND CONDITIONS OF SALE

1Machinery Sales Auctions (“1MSA”)

NOTICE: All bidders and prospective bidders acknowledge that they have read, understand and accept all of these Terms and Conditions and agree to be bound thereby.

1. REGISTRATION. All prospective bidders are required to register prior to bidding and provide their full name, mailing address, email address and telephone number, and any person registering for an entity, is required to provide his or her full name, title and contact information. All persons registering on their own behalf or on behalf of an entity warrant that all information furnished to Auctioneer and the Internet Provider is complete, truthful and accurate. Persons registering on behalf of an entity warrant that they are duly authorized to bind the entity to these Terms and Conditions and on all matters with respect to the sale. Auctioneer reserves the right in its sole discretion to deny registration to any person or entity It is recommended for the registration to be completed at least 24 hours before an event to ensure all registration requirement are met. If you do not register within this time frame, this does not mean you cannot register. However, late registrations may delay bid approval.

To complete BidSpotter registration steps by clicking the GREEN BUTTON above that reads, “Sign up to bid”.

Fill BidSpotter’s required information.

Please wait patiently for 1MSA to review your registration information. During this time you will receive an email from BidSpotter. It will read, “You have been registered to bid pending the auctioneer’s approval”. Once you have been approved by the Auctioneer (1MSA), you will receive another email from BidSpotter that will read, “You are approved to bid”.

2. BUYER’S PREMIUM. A buyer’s premium will be charged by the Auctioneer on all sales. Online bidders will be charged 15% buyer’s premium.

3. SALES TAX. Bidders shall be responsible for payment to Auctioneer of all applicable sales taxes. A bidder that is exempt must provide an exemption certificate satisfactory to Auctioneer to be entitled to claim the exemption.

4. PAYMENT. Online purchasers will be invoiced following the sale payment of which shall be due and payable no later than 24 hours from receipt of invoice. Payment shall be by cashier’s check or with prior arrangement with the Auctioneer by wire transfer. Personal and company checks accompanied by a bank guarantee of payment may be accepted by Auctioneer in its sole discretion. A fee will be charged for wire transfers. All checks shall be payable to 1 MS AUCTIONS. Cash payments receive a 3% discount over the 15% buyers premium.

5. REMOVAL.  Removal shall be at the expense, risk and liability of the purchasers including, without limitation, any damage caused by purchasers’ employees, representatives, agents or subcontractors in removal of their purchases. No purchase may be removed from the sale site until payment is made in full for all purchases by purchaser and proof of payment presented by the purchaser. No purchase may be removed during the sale. Neither Auctioneer nor seller shall be responsible for purchases not removed within the time allowed. Auctioneer and/or seller shall have the option but not the obligation, to remove and store at the expense and risk of the purchaser items not paid for and removed within such time for resale as provided in Section

Machinery moving, rigging and loading will be under the supervision of our authorized machinery moving company; LA Machinery Moving. Read lot description for additional informaton on loading fees.

1MS Auctions provides shipping, freight, container loading and crating. We ship and freight all over the country and internationally, call for a competitive quote 626-937-3171 ask for Luis Sanchez.

6. FAILURE TO PAY FOR PURCHASES. If a purchaser fails for any reason to pay for all purchased items when due, all purchased items shall be deemed abandoned by the purchaser at the option of the Auctioneer, and Auctioneer and/or seller, in addition to all other remedies allowed by law, may resell the items at private or public sale without further notice. The purchaser shall be liable for any deficiency following resale and all removal and other costs relating to such resale or disposition including, without limitation, all charges, legal fees, costs and expenses. Auctioneer and/or seller shall be entitled to retain all sums received from any resale and apply them against the deficiency without further notice and shall not be required to account for sums received on resale in excess of the purchase prices. Alternatively, Auctioneer and/or seller may in their sole discretion retain all monies received as a deposit or payment on account as liquidated damages. Auctioneer and/or seller may dispose of any of said items that are not resold in any manner they deem appropriate in their sole discretion without liability to the purchaser.

7. CONDITION OF ARTICLES SOLD. Auctioneer shall not be responsible for the accuracy of the description in any advertising or catalogue of any item or lot or for any description of an item or lot stated during the course of the auction. All photographs and other images in any advertising or catalogues are for identification purposes only and are not indicative of the accuracy of the description or the merchantability, quality, condition or fitness of any item for any purpose. ALL ITEMS AND LOTS ARE SOLD ON AN “AS IS, WHERE IS AND ALL FAULTS” BASIS. NEITHER AUCTIONEER NOR SELLER MAKE ANY REPRESENTATIONS, WARRANTIES, COVENANTS OR GUARANTEES, EXPRESS OR IMPLIED, OF ANY KIND AS TO THE NATURE, QUALITY, DURABILITY, CAPABILITY, FUNCTION, PERFORMANCE, VALUE, CONDITION OR SUITABILITY FOR ANY USE AND SPECIFICALLY DISCLAIM, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. TITLE TO ANY INTELLECTUAL PROPERTY RIGHTS IN THE PURCHASED ITEMS SHALL NOT TRANSFER TO THE PURCHASER, INCLUDING, WITHOUT LIMITATION, COMPUTER SOFTWARE RIGHTS, AND ALL ITEMS SHALL BE SUBJECT TO THE TERMS OF ANY EXISTING LICENSE OR OTHER INTELLECTUAL PROPERTY RIGHTS IN AND TO SUCH ITEMS. No sale will be set aside or allowance made on account of any inaccuracy in the description or the condition of an item or lot and all sales will be without recourse to the Auctioneer or seller. All prospective purchasers acknowledge that they have inspected or had the opportunity to inspect all items upon which they have submitted bids. Auctioneer and seller encourage prospective purchasers to avail themselves of the opportunity to make inspections prior to bidding or purchasing.

8. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE. Where items are sold by estimated weight, count or measure, the purchaser will billed for and required to pay for the estimated weight, count or measure. If upon delivery any shortage exists, the purchaser will receive a refund at the rate of purchase and if there is an excess the purchaser will be required to take and pay for such excess at the rate of purchase.

9. PURCHASER’S RISK. All purchases become the sole and absolute responsibility of the purchaser and the purchaser thereafter assumes all risk of loss and damage from any cause whatsoever (including, without limitation, loss by theft and damage caused by any riggers or others at the sale site) and all liability relating to the purchased items. In no event shall Auctioneer or seller be liable to purchaser or any third person for injuries or damages to persons or property by reason of any defects or conditions, latent or otherwise, in or arising from the physical condition of any purchased item or for any materials or substances contained in any purchased item, and purchasers shall indemnify and hold Auctioneer and seller, and their respective officers, members, employees, agents and representatives harmless from any and all such losses, claims and expenses, including, without limitation, attorneys’ fees, costs and expenses.

10. AUCTIONEER’S AND SELLER’S LIMITS OF LIABILITY. Auctioneer and seller shall not in any event be liable for the non-delivery of any item or lot for any reason except for the return to the purchaser of the deposit or other sums paid for such item or lot should the purchaser be entitled thereto. Under no circumstances shall the Auctioneer or seller be held liable for an amount greater than the amount actually paid by the purchaser. Purchasers acknowledge and agree that the Auctioneer and Seller shall have no liability for special, consequential or incidental damages. No claim under any circumstances shall be allowed after removal of an item or lot from the sale site.

11. RISK TO PERSONS AND PROPERTY; RELEASE. All purchasers and prospective purchasers, and all persons entering upon the premises of the sale site on their behalf, or at their invitation, for any reason whatsoever, do so at their own risk, expressly assume all risk of injury or damage while on said premises and agree that neither the Auctioneer nor the seller shall be held liable by reason of any injury or damage to them or their property while on said premises. All said persons to the fullest extent permitted by law, in consideration of their being permitted to enter upon the premises of the sale site, hereby release, indemnify and hold harmless Auctioneer and seller and their respective officers, members, employees, agents and representatives from any and all claims of any kind or nature to persons or property arising while on said premises.

12. SECTION TITLES. The section titles in these Terms and Conditions are inserted for convenience of reference only and shall in no way enlarge or limit the scope or meaning of any of these Terms and Conditions.

13. GOVERNING LAW, JURISDICTION AND VENUE. These Terms and Conditions and all matters with respect to this sale shall be governed by the laws of the Commonwealth California without regard to the conflicts of laws principles thereof. Any litigation in connection with this sale, any matter related thereto or arising therefrom or under these Terms and Conditions shall be brought exclusively in the Court of Common Pleas of Los Angeles County, California and all bidders and purchasers consent to the jurisdiction and venue of said court. The prevailing party in any such litigation shall be entitled to recover from the losing party all costs and expenses of such litigation including attorneys’ fees, costs and expenses.

If you have any questions, please call 1MSA headquarters at 626.330.4647 or email info@1machinerysales.com.

Thank You For Bidding!