Marcus 90 KVA Transformer - 600 To 120/208.

General Terms & Conditions of the Auction

1. All sales are final. No Bidder shall retract his or her bid.
2. All items must be paid for in full on the day of the sale, unless otherwise announced by Auctioneer and/or posted at Auction site. No items may be removed until full settlement has been made.
3. All items must be removed from the premises in the time announced by Auctioneers. It is the buyers responsibility to remove all items in the allotted time at the buyers sole expense.
4. All applicable sales, use, transfer or excise taxes arising from sale will be charged to buyer, and will be added to purchase price in accordance with Provincial & Federal law.
5. Auctioneers assume no responsibility for any liability once bid is accepted.
6. Merchandise is purchased "as is, where is." Although advertising information has been obtained from reliable sources, Grasswood Auctioneers Inc. makes no warranty or guarantee, expressed or implied as to the accuracy of the information. Buyers should inspect items prior to bidding.
7. If, for any reason whatsoever, the Auctioneers fail to deliver an awarded lot, the Auctioneers sole liability shall be the return of any deposit or monies paid on such non-delivered lot, and purchaser shall have no further claim.
8. Other terms and conditions as announced by Auctioneer and/or posted at the Auction site.
9. Grasswood Auctions reserves the right to accept or reject any bidder for any reason.

Deposits

In most cases no deposits are necessary to receive a bidding card, however full payment is usually required on sale day, unless it is an online auction (then usually three business days) or Real Property (usually a deposit of 15%, with the balance due within 20 days)

On larger dollar purchases (more than $25,000), we have an informal policy whereby you may request to make a deposit, and if approved, then pay the balance within seven days.

Registering for BidSpotter will require you to supply a credit card; however, this process is for verification purposes, and is not used as a deposit unless you retract your bid.

Payment

After the closing of a successful auction, a representative from Grasswood will provide the successful bidder with detailed instructions concerning how to submit your payment for deposit into our secure bank account. The successful bidder must submit the full purchase price, plus all applicable taxes and plus the Transaction Fee (as described in Buyer's Fees).

Payment methods accepted at most auctions are:

• Cash
• Certified Bank Cheque
• Wire Transfer
• Credit Card (Visa or MasterCard)
• Interac

Note: All non-Canadian customers must make payments by wire transfer.

Once full payment (including all fees and taxes) from the buyer has been received into the secure bank account assigned to your transaction, Grasswood will notify both the buyer and seller that the money has been deposited and the buyer will be provided with the location of the equipment. At this point, the seller is obligated to release the Equipment to the buyer for shipment. After the item reaches the buyer and is accepted or once an event constituting Deemed Receipt has occurred, Grasswood will the release the net sale proceeds to the seller.

Buyer's Fees

Buyer's premiums are payable on all internet, proxy and telephone bids. Premiums may also be payable at consignment auctions (Grasswood Auction Centre), industrial plant and construction auctions, but generally there are NO buyer's premiums for most live, in person purchases at the farm auctions.

Participation in Grasswood Online Auctions is free. However, for each piece of equipment that is purchased in a Grasswood Online Auction, the buyer is responsible for and must pay a transaction fee to Grasswood. For each item you purchase, you will be charged and you will be responsible to pay to Grasswood a transaction fee of 2% to 10% of the auction closing bid (the purchase price). The transaction fee or buyers fee for the sale will be listed.

If you fail to complete your purchase after you are the successful bidder in a Grasswood Online Auction, you will be required to pay a default penalty. Failure to complete the sale, for any reason, will require the successful bidder to pay a “Default Penalty” equal to twelve percent (12%) of the auction closing price to Grasswood.