Bench with Wilton 6" Vise

TERMS and CONDITIONS of Auction:

Registration & Bidding:

Only one (1) Bidder per paddle number is allowed. The party whose information is provided at the time of registration is responsible for all purchases of made under that Bidder paddle number.  Machinery Network Auctions, Inc. (MNA) reserves the right to refuse issuing a paddle number for any reason it believes necessary to protect the integrity of the bid.

• Credit Card Authorization: All Bidders are required to provide a valid MasterCard, Visa or American Express and the appropriate Credit Card Authorization form (as instructed by MNA Staff) in order to bid.  A $200 deposit authorization will be processed on the card provided (there will be no charge at this time, this is a “no transaction” authorization only).  By registering, the Bidder hereby expressly authorizes MNA to charge this Card if the Bidder fails to pay their invoice in accordance with these Terms and Conditions of Auction (the Terms) within forty-eight (48) hours of the issuance of that invoice.

• Deposit(s):  Any prospective Bidder residing outside the continental United States shall be required to submit a refundable (subject to these terms) deposit of $2,000 or 10% of that bidders projected spend for that auction, whichever is higher (and determined solely at MNA staff’s discretion).  The deposit shall be paid by credit card and the requisite “Credit Card Authorization – Foreign Bid Deposit” form filled out and turned in to MNA staff prior to any such Bidder being approved to bid.  If the Bidder does not win the bid on any lot, the deposit shall be credited back to the same credit card, and that credit card only, within 72 hours of the close of bidding.  If the bidder wins the bid but fails to pay their invoice within 48 hours of the its being issued, the bidder hereby expressly authorizes MNA, at their sole discretion, to either, 1) charge the credit card the full invoice amount, or 2) retain all or part of the deposit as liquidated damages without notice.

• Bidder Information:  By placing any bid, each Bidder expressly represents that they have provided MNA staff with accurate and complete contact, financial, Credit Card, and any other requested information during the registration process.  Each Bidder hereby further expressly warrants and acknowledges that, whether the Bidder is acting as a principal, an agent, or an officer, director, or other representative of an entity, or in any other capacity whatsoever, by placing a bid, they have entered into a legally binding contract with MNA whereby they will be held personally liable for, and shall be bound to remit payment of, the purchase price, buyer’s premium, taxes, and any other amounts payable on the invoice issued to their paddle number to MNA upon demand and/or per these Terms.

• Reserves and Disputes:  All or any one or group of lots may be offered with minimum reserve pricing and/or subject to Seller’s right of confirmation.  MNA expressly reserves the right to publish or not to publish the existence of any reserve or Seller’s right to confirmation.  Further, MNA expressly reserves the right to reject any bid that is not commensurate with the value of the item being offered or that MNA, in their sole discretion, believes was made illegally or in bad faith.  MNA and/or any of its agents or assigns may bid on any lot either for its own account or on behalf of a third party.  In the event of any dispute among Bidders, or among Bidders and MNA, MNA may again, in its sole discretion, either accept what it deems to be the final bid or solicit further bids on the item in dispute.

• ALL SALES ARE FINAL.  No Bidder may retract their bid.  No returns or refunds will be permitted.  All sales are final.  No invoice shall be cancelled unless authorized by MNA and at their sole discretion.  Should MNA agree to cancel an otherwise valid invoice or any individual lot(s) on same, Bidder expressly herein agrees to be held responsible for, and shall be required to immediately pay, a 10% restocking fee on the total of the bid or hammer price of the lot(s) inclusive of the buyer’s premium.

Disclaimer & Acknowledgement:

MNA and seller expressly disclaim, without limitation, any warranty of merchantability or fitness for a particular purpose.  These terms are merely meant to be representative; by registering for and/or bidding in this auction, you are expressly acknowledging and agreeing to these Terms as well as all of the Terms and Conditions in both the Bid Card and Auction Catalogue.

• AS IS, WHERE IS:  The Bidder acknowledges and warrants that they, or an authorized agent, have inspected all of the assets to their satisfaction and had ample opportunity to inspect prior to placing a bid, which shall be, further, governed by these Terms.  MNA and Seller make no warranty or guarantee, expressed or implied, as to the accuracy of the information (including pictures, descriptions or specifications) provided in any published or otherwise publicly circulated account of the auction or the assets for sale therein.  If there is any question whatsoever as to whether the picture of a lot is accurate or inclusive (or exclusive) of everything being sold in that lot, it is the sole responsibility of the Bidder, prior to placing any bid on the lot, to verify to their complete satisfaction, what is being bid upon.  Everything is being sold on an "AS IS," "WHERE IS," and "AS AVAILABLE" basis.  ALL SALES ARE FINAL.

• Lot Order & Withdrawal:  MNA reserves the right to withdraw items, alter the order of the sale, accept bids from the Seller or their agents or assigns and group lots as it may deem appropriate in their sole discretion or at the direction of Seller or Seller’s agent(s).

• Security Interest. Each Bidder expressly grants to MNA a security interest in, and lien upon, the purchased assets and proceeds thereof to secure payment of the purchase price for the purchased assets. Each Bidder expressly acknowledges and agrees that, in the event of non-payment by a Bidder, MNA may proceed to file the Bidder Registration Agreement, UCC-1 financing statements, and any other documents to perfect the security interest and lien granted hereby and that MNA will pursue their interests in such assets to the fullest extent of the law and equity.

Payment:

All bidders are required to pay in full within 48 hours of invoice date – NO EXCEPTIONS

• Buyer’s Premium:    A “Buyer’s Premium” of 18% of the final hammer price shall be added to each invoice.  Onsite Bidders (where applicable) who pay their invoice in full within 24 hours of its issuance shall receive a 2% discount in their aggregate buyer’s premium.

• Sales Tax:  Applicable sales tax will likewise be added to the purchase price of all taxable items.  All resellers need to contact Abraham Torres at (818) 788-2260 to make arrangements to either fax or email a copy of their Resale Certificate or other state issued certification of exempt status to our office at least 24 hours prior to the day of auction.  Any reseller not doing so risks their exempt status for that auction and, if sales tax is charged, will be required to seek a refund of those monies directly from the state taxing authority in the state in which the auction is held.  ONCE COLLECTED, MNA WILL NOT REFUND STATE SALES TAX – NO EXCEPTIONS.  Lots not paid for (and removed by published deadline and per the terms of removal, below) may be resold at public or private sale without further notice and any deficiency, together with all expenses of that resale and/or removal, will be charged to the defaulting purchaser.

Removal:

Purchased lots will not be released until payment has been received in full.  Wire transfers must clear in order for payment to be considered “received in full”

• Rigging/Removal: IS THE RESPONSIBILITY OF THE BIDDER/BUYER and all riggers are required to be licensed, insured and approved, in advance, by MNA.  Every effort will be made to facilitate the timely and professional removal of the assets.  All removal activity must be in accordance with OHSA guidelines and at the direction of on-site MNA and/or Seller staff.  Removal may begin when the auction has been completed and Payment in full has been made (each Invoiced lot and any other invoiced line item – sales tax, Buyer’s Premium, etc. – must be paid).  Any lot not removed from the premises by the published removal deadline shall be removed and may be resold at public or private sale and/or scrapped by MNA, in their sole discretion, without further notice and the costs of same shall be charged to the defaulting buyer.

• Preferred Riggers/Disclaimer:  For most sales, MNA will provide a list of “preferred riggers” who have offered services for that sale, have proof of commercial liability insurance on file with MNA and are familiar with the particular offerings of the sale.  Preferred rigger information is provided solely as a courtesy to our buyers.  MNA is not affiliated with and does not endorse or guarantee the services of any machinery rigging, transport or export company, and cannot be held responsible for any damage or other problems incurred as a result of the actions of said companies.

• Buyer Responsibility/REMOVAL DEADLINES:  Each buyer expressly acknowledges and agrees that they shall be responsible for all costs and expenses associated with removal of the purchased lots and shall be liable to MNA, Seller, owner and/or landlord of the premises at which the purchased lots are located, and all other third parties and are solely responsible for removing all purchased lots from site by removal deadline.  Buyers with items left on site after deadline are subject to fines of $500 per day or could be subject to abandonment (and in accordance with other Terms found in this Section) with no further recourse.

• Standard removal hours are Monday – Friday from 8:00 am to 4:00 pm, local facility time, unless otherwise posted at the facility or advertised on the MNA website.