1. LiquiTec reserves the right, at any time, within its sole
discretion and without prior notice or liability to any
person, to: (a) withdraw or cancel the sale of any or all
Assets prior to accepting a bid for such Asset or Assets;
(b) refuse to issue a bidder?s number to any person; (c)
revoke the privilege of bidding to any person at this or any
future sale (auction or otherwise); (d) refuse or reject any
bid which it deems to be not made in good faith or an
insignificant advance over the preceding bid; (e) refuse or
reject any bid from any disqualified bidder; (f) offer any
Assets in groups or in bulk; or; (g) impose any other
conditions announced at the time of sale.
2. Neither the Client nor any agent of the Client shall bid
on any Asset.
3. A Buyer is deemed to have accepted the Asset once the
Buyer makes a bid. LiquiTec shall accept the highest bid and
the highest bidder shall be the Buyer. Once a bid is
accepted, the Buyer may not retract the bid. All sales are
final once a successful bid is accepted.
4. Any dispute arising as to any bidding shall be settled by
LiquiTec at LiquiTec?s sole discretion, and LiquiTec may,
immediately, put Assets in dispute up for sale again.
5. A 17% Buyer?s Premium and, if the Assets are sold over
the internet, an additional 3% Webcast fee, shall be added
to the successful bid price of each Asset and shall be
payable by the Buyer in full together with the full purchase
price.
6. LiquiTec will, at its sole discretion, collect from
Buyers a non-refundable 25% deposit toward the purchase
price and Buyer?s Premium (and Webcast fee, if applicable)
immediately following acceptance of the successful bid or at
any time deemed appropriate by LiquiTec.
7. The balance of the purchase price and Buyer?s Premium
(and Webcast fee, if applicable) shall be paid in full on
the day of the sale or within one (1) business day after the
bid is accepted. No physical work at the any Sale Site(s),
including but not limited to the removal of the Assets
purchased, may occur before LiquiTec has received payment in
full plus any Buyer?s Premium (and Webcast fee, if
applicable).
8. Interest at the lesser rate of 24% per annum or the
maximum rate permitted by applicable law will be paid by the
Buyer on overdue amounts, together with any legal or
collection costs incurred by LiquiTec.
9. All payments must be made by cash, cashier's check or
wire transfer in U.S. currency, made payable to LiquiTec
Industries, Incorporated. LiquiTec will accept MasterCard
and Visa credit cards only. Under special conditions
approved in advance by LiquiTec, a Buyer?s personal or
company check accompanied by an irrevocable bank letter
guaranteeing payment may be accepted by LiquiTec. If paying
by cash, wire or check (with Bank Letter of Guarantee),
there is a 2% discount to the Buyer?s Premium.
10. All applicable sales or use taxes and/or statutory value
added taxes shall be added to the purchase price of all
taxable purchases. Buyers who purchase for resale must file
their resale permit number in order to avoid paying the
sales tax applicable at the Sale Site.
11. By registering as a bidder and/or submitting a bid, each
Buyer acknowledges that the Buyer has read, agrees to and
shall be bound by these Terms of Sale.
12. Each Buyer acknowledges that prior to the auction all
Assets were available for inspection.
13. All announcements made by LiquiTec on auction day shall
take precedence over these written Terms of Sale.
14. In the event the Buyer fails to pay the full purchase
price of any Assets within the prescribed time, or fails to
comply with any other Terms of Sale, LiquiTec shall retain a
possessory lien on all Assets of the Buyer and have the
right to resell such Assets for and on behalf of the Buyer
by public or private sale without notice of any kind to the
Buyer. Following such public or private sale of the Assets,
LiquiTec shall have the right to either: (a) retain the
deposit, if any, paid by Buyer and specified on the front of
this invoice and also recover its actual damages, if any,
resulting from Buyer?s default; or (b) retain the deposit,
if any, paid by Buyer and specified on the front of this
invoice, as liquidated damages.
15. Risk of loss shifts to Buyer and transfer of title and
possession of all purchased Assets to Buyer will occur at
the time of verification of collection of the full purchase
price. It shall be the sole responsibility of the Buyer to
insure purchased Assets immediately upon transfer of title
and possession. LiquiTec shall not be responsible for any
loss or damage to any Assets in transit.
16. Under no circumstances can Assets be removed during the
time the auction is being conducted. All Assets must be
removed from the Sale Site within the time announced, and
(unless LiquiTec staff agrees in writing to provide loading
services to Buyer) all costs, responsibility and risk of
such removal shall be borne by the Buyer and, in every case,
the Buyer shall use prudence in effecting such removal.
17. Buyer is responsible for compliance with all applicable
government safety standards in connection with the removal
and transportation of the Assets and for the actions and
safety of all of its own employees or any third party
brought onto the Sale Site. Buyer accepts responsibility for
any damage to the Sale Site caused or created by the removal
of the Assets, including any dismantling, rigging or hot
cutting. Buyer is responsible to secure and leave any vents
or exhaust stacks protruding through the roof or to properly
cap and secure any holes created by removal of the Assets.
Buyer is responsible to cut any anchor bolts flush with the
concrete. Buyer shall repair any damage caused by removal of
the Assets to any part of the Sale Site or any related
property.
18. Buyer acknowledges that a Sale Site may be a potentially
dangerous place. Flammable, noxious, corrosive and
pressurized substances may be present; heavy equipment may
be in operation; and electric circuits may be live. Every
person at the Sale Site before, during and after the sale
shall be deemed to be there at his/her own risk, with notice
of possible dangerous conditions. Buyer shall so advise his
agents and employees. No person shall have any claim against
LiquiTec, their agents, employees or principals for injuries
sustained nor for damages to or loss of property which may
occur from any cause whatsoever.
19. Buyer is responsible for the proper handling,
transportation and or disposal of all environmentally
sensitive materials including, but not limited to paints,
solvents, machine lubricants, wash water in the paint
system, or other sensitive materials purchased as part of,
or stored or used in the Assets at the Sale Site. Buyer will
pay all costs associated with spills, improper handling or
improper disposal of these materials. Buyer agrees to
indemnify LiquiTec, the Landlord and the Receiver from any
and all costs (including LiquiTec?s time billed at normal
billing rates) associated with mishandling or disposing of
any environmentally sensitive materials.
20. Buyer and any third party engaged by Buyer to assist in
the removal of the Assets must provide a certificate of
insurance, including evidence of public liability insurance
of at least $1,000,000 and worker's compensation insurance.
Buyer agrees to indemnify and hold harmless LiquiTec, the
Landlord and the Receiver against any damage caused by the
acts of the Buyer and/or agents of the Buyer in connection
with the dismantling or removal of the Assets.
21. In the event that Buyer is unable to timely remove all
purchased Assets from the Sale Site, Buyer shall be solely
responsible for making any independent arrangements with
Client or Client?s landlord and for paying any additional
costs (including LiquiTec?s time billed at normal billing
rates) due to such delay. The Sale Site must be left in
broom clean condition after all Assets are removed.
22. If for any reason the Buyer fails to remove any Assets
within the time specified, the Assets shall be deemed
abandoned, and LiquiTec, at its sole discretion, may resell
the Assets per the terms above, or remove and store the
Assets at Buyer's sole risk and expense. In addition, Buyer
shall be liable for any rent incurred or damages suffered by
LiquiTec because of Buyer's failure to remove any Assets.
Client and LiquiTec will not be responsible for items that
are not removed within the time period allowed.
23. No sale shall be invalidated by reason of any defect or
inaccuracy in any of the Assets or their being incorrectly
described in any catalog, on www.liquitec.net,
assetsales.liquitec.net, or liquitec.auctionflex.com, or
elsewhere, and no liability shall be borne by LiquiTec with
respect to any such fault or errors. While descriptions are
believed to be accurate, LiquiTec make no warranties or
guarantees expressed or implied, as to the genuineness,
authenticity of, or defect in any Assets and will not be
held responsible for any advertising discrepancies. The
descriptions contained in any catalog and information posted
on www.liquitec.net, assetsales.liquitec.net, or
liquitec.auctionflex.com has been prepared only as a guide
based on information from sources generally believed to be
reliable and from the Client, but the accuracy thereof
cannot be guaranteed or warranted by LiquiTec. Bidder
acknowledges responsibility to inspect all Assets and make
independent inquiries.
24. BUYER ACKNOWLEDGES THAT PRIOR TO BIDDING, A FULL
INSPECTION WAS MADE OF THE PURCHASED ASSETS, THAT ALL STEPS
NECESSARY TO INDEPENDENTLY SATISFY HIMSELF OR HERSELF
REGARDING ANY CONDITION OR ASPECT OF ANY ASSET HAVE BEEN
TAKEN, AND THAT BUYER IS NOT RELYING ON LIQUITEC NOR IS
LIQUITEC LIABLE FOR ANY SUCH MATTER. BUYER FURTHER
ACKNOWLEDGES THAT THERE ARE NO GUARANTEES OR WARRANTIES,
EXPRESSED OR IMPLIED, STATUTORY OR OTHERWISE, OF ANY NATURE
WHATSOEVER MADE WITH RESPECT TO ANY ASSET. EACH AND EVERY
ASSET IS SOLD "AS IS, WHERE IS." SPECIFICALLY, BUT NOT TO
RESTRICT THE GENERALITY OF THE FOREGOING, LIQUITEC MAKES NO
REPRESENTATION OR WARRANTY AS TO THE CONDITION AND/OR
OPERABILITY OF ANY ASSET OR THAT ANY ASSET:
A) CONFORMS TO ANY SAFETY OF POLLUTION STANDARD OR TO ANY
STANDARD OR REQUIREMENT OF ANY APPLICABLE AUTHORITY, LAW, OR
REGULATION, OR
B) IS FIT FOR ANY PARTICULAR PURPOSE, OR
C) IS MERCHANTABLE OR FINANCEABLE, OR
D) IS OF ANY PARTICULAR AGE, YEAR OF MANUFACTURE, MODEL,
MAKE OR CONDITION
25. BUYER ACCEPTS THE ASSETS PURCHASED SUBJECT TO ALL TERMS
OF SALE. BUYER DOES HEREBY WAIVE, RELEASE AND DISCHARGE ALL
CLAIMS OF ANY KIND OR NATURE AGAINST LIQUITEC, ITS AGENTS
AND EMPLOYEES FOR ANY DAMAGES OR INJURIES RESULTING FROM THE
PURCHASE, POSSESSION OR USE OF THE PURCHASED ASSETS, OR
CLAIMS FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING
THEREFROM.
26. If, for any reason whatsoever, LiquiTec is unable to
make any purchased Asset(s) available to Buyer or otherwise
effect delivery of any Asset(s) with clear title to the
same, or any necessary documentation required in respect of
any Asset(s), whether before or after delivery of such
Asset(s), LiquiTec?s sole liability shall be to return to
Buyer any monies paid by Buyer for such Asset(s), upon
return (if applicable) of the Asset(s) by Buyer.
27. If any shortages exist on estimated counts, an
adjustment to the purchase price will be made only if the
claim is made at the time of the removal. No adjustment will
be allowed after any Assets are removed from the Sale Site.
28. All necessary transfer documents, product manuals or
other written information pertaining to the Assets will, if
available, be delivered immediately to the Buyer at the time
of verification of collection of purchase price of all
Assets or will otherwise be mailed to Buyer if subsequently
made available to LiquiTec. Availability of these documents
is subject to provision of the same by the Client. Documents
provided will be prepared to be effective only in the state
in which the Sale Site is located.
29. These Terms of Sale may not be amended except by
agreement in writing signed by LiquiTec and the respective
Buyer, or by any special announcements made at the time of
the sale.
30. In addition to these Terms of Sale, Buyer agrees to the
Terms and Conditions that govern the use of LiquiTec
Services as defined on LiquiTec's website at
www.liquitec.net, assetsales.liquitec.net, or
liquitec.auctionflex.com, and those additional terms posted
and announced at the time of sale and included with any
catalog or other written information provided to all bidders
at the Sale Site.
31. If any provision of these Terms of Sale is held by a
court of competent jurisdiction to be invalid or
unenforceable, then such provision shall be enforced to the
maximum extent permissible so as to affect the intent of
this Agreement, and the remainder of this Agreement shall
continue in full force and effect.
32. These Terms of Sale shall be interpreted and enforced
under Wisconsin law regardless of the location of the Sale
Site.