Craftsman Bench Grinder 1/3hp 6" Wheels M/N 397-19580

1. IDENTIFICATION: All purchasers are required to register and give full name, address.  All perspective international webcast bidders must post a 10% deposit of approximate planned spending budget or minimum of $5,000.00 in order to be approved. No exceptions will be made

2. Wisconsin has deemed this a taxable auction sale, the tax rate is 5.50%. Buyer is responsible for any applicable Sales and Use Taxes and will supply AUCTION COMPANY/SELLER documentation and proof that is acceptable to the State in which assets are located if requesting tax free sale. Should the State reject such documentation buyer will make the payment of said taxes immediately and agrees to defend Company/Seller from any and all tax claims. In any case the sales tax liability remains the sole obligation of the purchaser.  For purchases without proof of exemption, sales tax at the applicable rate of  will be added to the purchase price plus the buyer’s premium and remitted to the Auction Company.

3. A Buyer’s Premium of (18%) will be charged to all buyers. The Buyer's Premium is a % of the bid price will be added to the price of each item purchased to arrive at the total purchase price.

4. AUCTIONEER reserves the right to group, reduce, add or delete lots. AUCTIONEER reserves the right to bid on behalf of the owner.

5. REMOVAL: Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item purchased at the sale. Buyer is required to remove within the stated time frame which is on their invoice unless prior arrangements have been made in writing and approved by AUCTIONEER/SELLER. Removal: BY APPOINTMENT ONLY-ALL ITEMS MUST BE REMOVED BY 1/22/2020.  All purchases must be removed in their entirety.  Items will be considered abandoned, and buyer shall lose all rights to said equipment without recourse or refund due from AUCTION COMPANY/SELLER after the removal deadline.

6. Although information has been obtained from sources deemed reliable, AUCTIONEER/SELLER makes no warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained or the fitness for duty of any of the assets. All assets are being sold “AS IS, WHERE IS, NO EXCEPTIONS”.  PLEASE INSPECT.

7. If for any reason an item shall become non-deliverable, AUCTIONEER/SELLER shall not, in any event, be liable for non-delivery, or for any other matter or thing, to any Buyer of any lot, other than for the return to the Buyer of monies actually paid to AUCTIONEER/SELLER for said lot, should the Buyer be entitled thereto. No adjustments will be made after the assets are removed from the sale site.

 8. PAYMENT: Invoices must be paid in full by close of business January 9th 2020 or prior to removal, whichever occurs first. A buyer’s premium of (18%) for online buyers will be applied to all invoiced sales and sales tax will apply without appropriate proof of exemption.   Business checks will not be accepted without a letter of verification from your bank similar to below.  

(Your Bank Name) unconditionally guarantees payment to HYPERAMS, LLC from (Your Company Name) up to the amount of __________. This guarantee will be valid for purchases made at the auction of (Auction Name) on (Auction Date).

NO ASSETS WILL BE RELEASED UNTIL INVOICE IS FULLY PAID.

9. MANNER OF PAYMENT:  All deposits and balances due shall be payable to the order of HYPERAMS, LLC.  All payments must be made by Cash, Cashier`s Check, Wire Transfer or Company Check with Bank Letter of Guarantee. WE DO NOT TAKE CREDIT CARDS.  The full purchase price on all lots sold to the same buyer must be paid in full by January 9th, 2020 and before removal of any of the assets.

10. All assets are being sold “AS IS, WHERE IS” and buyer acknowledges they have inspected all assets prior to bidding. While all care was taken in gathering information on the equipment that is for sale, AUCTIONEER/Seller will not be held responsible for the correctness of the descriptions. INSPECT BEFORE YOU BUY!  Although information has been obtained from sources deemed reliable, the auctioneer makes no warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that buyers should avail themselves of the opportunity to make inspection prior to the sale. This listing is intended to provide general information of the equipment being offered and is subject to errors, omissions, additions or deletions. Items offered may or may not necessarily be sold as described and/or photographed in this brochure or other marketing material. 

11. All persons are inspecting, bidding and removing assets at their own risk and liability without recourse on AUCTIONEER/SELLER. Further the undersigned and their employees or agents agree to hold AUCTIONEER/SELLER and their agents and employees harmless from all claims of any kind or type.

12. All sales are in US Dollars.

12.A Sales Tax - 5.50%

13. By agreeing to these terms and conditions you signify that you have the authority and you are binding your company, yourself (as an individual and/or employee) and any agents or persons who conduct business using your buyers number and/or under your employment or control. This includes liability as to payment and all disclaimers.

14.  Buyer hereby agrees to defend, indemnify and hold harmless AUCTIONEER/SELLER their directors, officers, employees and other agent representatives from and against any and all liabilities, judgments, claims, settlements, losses, damages, penalties, obligations and expenses, including attorney’s fees, incurred or suffered by such person arising from, by reason of, or in connection with any loss, damage or injury to person or property arising from, by reason of or in connection with the assets sold hereunder.

15. Any controversy or claim arising out of or related to this Agreement, or any alleged breach of the terms hereof, shall be settled by arbitration in accordance with the rules, procedures, and regulations promulgated by the American Arbitration Association (“Arbitration Proceeding”). The arbitration hearing shall be held in the State of Illinois. The Parties hereby agree that the award rendered by the person conducting the Arbitration Proceeding (“Arbitrator”) shall be final and nonappealable, and judgment may be entered upon the award in any court of competent jurisdiction. The Arbitrator shall not have the authority to award punitive damages against either Party. The Party who files notice of demand for an Arbitration Proceeding (“Initiator”) must assert in such demand all claims then known to the Initiator against the other Party (“Respondent”), and the Initiator may amend its demands and claims only with the consent of the Arbitrator.

16. Backup Bidder: If a winner at the auction does not meet obligations to pay for the lot purchased, the next highest bidder will be considered the winning bidder and will be required to close on such purchase within the terms and conditions herein.

17. ADDITIONAL TERMS AND CONDITIONS: The AUCTIONEER may add other terms and conditions of sale, such additional terms and conditions to be posted online prior to the auction.

18. All online bids are considered offers until the auctioneer sends out the invoices for the auction, at which time the sale is final.  Auctioneer reserve the right to, (1) cancel, suspend, extend or reschedule the sale of an individual lot, auction and/or auction event, (2) make changes to the auction’s closing, inspection, or removal times, or (3) take any other action the Auctioneer deems necessary to effect the fair conduct of this sale/auction.  It is recommended that you check your emails often during the auction for updates and/or changes to the auction process

19.) The Auctioneer is not a shipper or machinery mover, Auctioneer will not make ready for shipping any lots of any kind. Auctioneer will disassemble, package, crate or place on a skid and shrink wrap any lots from the auction. For shipping you will need to contact a shipping or machinery moving company to preform such work. If your shipper or machinery mover requires heavy equipment to preform your shipping r make ready, they will need ot provide Auctioneer with the proper insurance certificates naming Auctioneer and Building owner as additional insured, see contract machinery mover section for specific language.