50"x163" CNC-Takang LD50X4150 Heavy Duty Oil Field CNC Lathe with 12" Bore, S/N P500710007,

1.  IDENTIFICATION: All Participants are required to register prior to becoming an Approved Bidder.  All Participants are required to give full name, permanent street address, phone numbers, email address, valid credit card and business name.   Subsequent to registration on BidSpotter, approval to bid is at our discretion.

2. PAYMENT: Invoices must be paid in full by  Friday, December 15, 2017. Payment may be made by wire transfer, company check with a bank letter of guarantee, certified funds or cash.  A BUYERS FEE OF 18% WILL BE APPLIED TO INVOICE IN ADDITION TO THE SALES PRICE.    Where required by law, ANY APPLICABLE SALES TAX WILL BE APPLIED TO ALL SALES UNLESS BUYER HAS A PROPER EXEMTION.  NO MERCHANDISE WILL BE RELEASED UNITIL INVOICE IS PAID IN FULL.

3. Purchase of any lot is at the Purchaser's risk with risk of loss immediately passing to Purchaser upon the auctioneer's call. Neither Premier Asset Recovery Group, LLC, nor its consignors, have any liability of any nature whatsoever to Purchaser if the lot is not delivered to Purchaser due to fire, theft, damage, or any other cause.

4. REMOVAL:  All purchases MUST be removed as herein listed.  Small items (Tooling, Machine Parts & Accessories, etc.) are to be REMOVED WITHIN 2 DAYS OF THE AUCTION.  WE ASSUME NO RESPONSIBILITY FOR SMALL, CARRIABLE ITEMS LEFT ON PREMISES ONE DAY AFTER SALE.  All other Machinery & Equipment must be removed by  Friday, December 28, 2017.

5.  Purchases may be removed only on presentation of paid bill.  Removal shall be at the expense, risk and liability of the purchaser.  Auctioneer shall not be responsible for goods not removed within the time allowed.

6. CONDITION:   All Items are sold on “as is – where is”, “in place”, “with all faults” basis no conditions or warranties or representation, written or oral, is given with any lot. All statements contained in Premier Asset Recovery, LLC catalog, website, and marketing material or by the auctioneers, or in any bill of sale, invoice or elsewhere as to description, size, quantity, quality, capacity, model, serial number, measurements or condition, are approximated statements and shall not be deemed to be representations or warranties, oral or written, with respect to any lot. No sale is invalid or made void by reason of any flaw in a lot or by reason of a lot being incorrectly described.  Description and Photos are not guaranteed.  Make yourself available e for the Inspection period.  It is the buyer’s responsibility to inspect before biding.  Premier Asset Recovery Group assumes no liability for error or omissions associated with the auction sale.  The buyer does hereby assume and does agree to indemnify and hold the auctioneer and seller harmless from any future claim which shall pertain the fitness or use of the assets being purchased.

7. CLAIMS: NO CLAIMS WILL BE ALLOWED AFTER REMOVAL OF GOODS FROM PREMISES OR LEFT ON PREMISES PAST ALLOWED TIME LIMIT.

8. RESPONSIBILITY FOR NON-DELIVERY: Neither the auctioneer nor the seller, in any event, shall be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled hereto.

9. COMPLIANCE WITH TERMS OF SALE: In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Lots not paid for and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of resale including legal fees, will be charged to the defaulting purchaser.

10. RISK TO PERSON AND PROPERTY: Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer and seller from liability therefore. Neither the auctioneer nor his principal shall be liable by reason of any defect in or condition of the premises on which the sale is held.

11. CONTRACT MOVERS: If purchaser wishes to hire or contract with a machinery mover, rigger or other type of outside contractor, PROPER INSURANCE protecting  Premier Asset Recovery Group, LLC  and the people or company that the auctioneers are conducting the sale for against any or all claims arising from personal injury and/or property damage created by their actions. This requirement is for the auctioneer`s protection - NOT FOR THE PURCHASER`S therefore the auctioneer suggests that the purchaser review the insurance policies of the machinery mover regarding the coverage that they have protecting the purchaser and damage or loss of the equipment they may be moving for the purchaser.

12. ADDITION TO OR WITHDRAWAL FROM SALE: The auctioneer reserves the right to withdraw from sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all the property listed, in bulk.

13.  It is the Purchaser’s sole responsibility to meet all governmental safety and environmental standards in removing, shipping and using purchased items.  Certain of the items for sale may contain “hazardous substances”, as that term is defined under federal, state or local environmental laws and regulations.  Premier has no duty to remove any hazardous substances that are contained in or are a part of any items.  Purchasers agree to defend (by counsel satisfactory to Premier) and indemnify Premier and hold Premier harmless from any against any claim.  Demand, cause of action, liability or expense (including attorney’s fees and costs) asserted against or incurred by Premier in connection with the sale, removal, shipment, or use of any purchased items.

14. DISPUTE BETWEEN BIDDERS: The auctioneer`s decision will be final and absolute.

15. RECORDS: The record of sale kept by the auctioneer and bookkeeper will be taken as final in the event of any dispute.

16. INDEPENDENT CONTRACTOR: The auctioneer is acting as an independent contractor only and is not responsible for the acts of its principals or sellers. 

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

18. RESERVE: The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer or his assigned agents, shall have the right to bid on behalf of the seller. 

19  These terms and conditions, and all questions with respect to the interpretation of these Terms and Conditions, shall be governed by and  construed in accordance with the internal law of the State of Illinois, without regard to conflict of law’s provisions.  All bidders expressly consent to personal and exclusive jurisdiction in the courts of the State of Illinois located in Cook County.