Holly Hill, FL (Daytona Beach): Auction of Complete Machine Shop

TERMS AND CONDITIONS
All items offered for sale at the Auction ("Items", "Property", "Product", "Purchases") are offered by Auction Management Corporation ("Auctioneer"), as Seller's agent, subject to the following Terms and Conditions of Sale, which, combined with any specific terms as posted in materials and on the web, make up the Complete Terms and Conditions of Sale.

Payment:
Payment is due at the time of invoicing. Payment must be received by Friday, 22 July at Noon EST. Payment must be made via WIRE TRANSFER only for ALL INVOICES OVER $1,500.00 for Bid Amount plus 18% Buyer’s Premium and sales tax. Invoices under $1,500 may be paid by cash, MasterCard, Visa, Discover or AMEX Cards. You will receive an invoice via email shortly after the conclusion of the auction. Any items unpaid by this time will be considered abandoned and resold. Any bidders not paying for their purchase are subject to being prohibited from participating in future auctions.

Extension Feature:
This auction features a bid extension. This feature will leave the bidding open for any item that has received a bid within the last 5 minutes from the last recorded bid time, even if the ending time has been reached. This feature has been added to eliminate sniping and to make the online bidding process more like a 'live' auction.

Buyer’s Premium:
An 18% Buyer’s premium will be added to the winning bid of each item purchased.

Sales Tax:
6.5% on all items unless valid resale certificate is on file with our office prior to invoicing.

Bidding:
All bids must be submitted using the online bidding system. Buyer is responsible to confirm their bids for accuracy. Selecting the Review Bids function at any time may do this. Bidders will receive outbid notifications via email up until the last day of the auction, after which time you must log in to the bidding site to confirm your bids. Auctioneer is providing Internet bidding as a service to Buyer using a Third Party Bidding System. Under no circumstances shall Buyer hold Auctioneer liable for system failures resulting in Buyer’s bid not being properly submitted. This auction uses staggered closing times and dynamic closing. This means 1 item per minute will close in numerical order and that bids received in the final minutes before an item’s scheduled close time will extend the bidding an additional 5 minutes on that item. Auctioneer reserves the right to add to, group, withdraw or re-catalog items in this auction, as well as adjust minimum bids and/or reserve prices and extend or shorten closing times.

Representations:
All items are being sold As-Is with no warranty. Auctioneer shall not be responsible for the correct description, authenticity, genuineness of or defect in any lot, and makes no warranty in connection therewith. On-site inspection of items being sold is recommended. Auctioneer makes every effort to provide accurate information about the items being sold. However, neither Auctioneer nor its Client will assume responsibility for Buyer’s bidding errors. It is Buyer’s full responsibility to confirm the accuracy of items offered for sale. Buyers are recommended to inspect all items. Descriptions and photos are offered as a guide only. Do not rely solely on photos to make buying decisions, be sure to read descriptions, and to personally inspect the assets. Auctioneer shall not be held responsible for such errors as posting the wrong photo for an item. When in doubt about the condition of an item, please bid accordingly.

All Sales Final:
A successful bid at auction, whether live or online, constitutes a legally binding contract of sale. All sales are final. There will be no refunds, returns or exchanges.

Removal:
Buyer is solely responsible to remove purchases within the time frames posted. All purchases must be paid in full before items will be released from the premises. Buyer may remove small items which can be hand-carried out or removed with hand-truck provided by Buyer. All other items must be removed by bonded and insured rigging companies. Unless using a third party rigging company, Buyer must provide his or her own labor, materials and packing supplies. Buyer must provide an invoice and I.D. at time of pickup. If a third party rigging company is employed to remove items which cannot be hand carried or removed with a hand truck by Buyer, a Certificate of Insurance will be required.

Failure to Remove Purchases:
In the event items are not removed in the time frames allotted, the items purchased shall be deemed abandoned and Buyer will lose any right, title or interest Buyer may have acquired and the items shall revert and repossess to Auctioneer and/or Seller without further notice to Buyer. Auctioneer shall also be entitled to reimbursement from Buyer for any costs associated with the removal, storage and reselling of Buyer's items, and any other charges, fees, and expenses incurred as a result of Buyer's failure, including all attorney fees and costs incurred by Auctioneer to enforce Buyer’s obligations hereunder.

Failure to Pay:
In the event Buyer fails to pay the entire purchase price by the payment deadline, the items purchased shall be deemed abandoned and Buyer will lose any right, title or interest Buyer may have acquired and the items shall revert and repossess to Auctioneer and/or Seller without further notice to Buyer. In addition, Buyer may be prohibited from participating in future auctions.

Non-Delivery:
Until such time as purchased items are removed from the premises by the Buyer, Auctioneer shall have the right to cancel or void the sale of any such items purchased by Buyer. Auctioneer shall have no liability to Buyer due to the non-delivery of any purchased item other than the return of Buyer’s payment. No claim of any kind for purchased items, whether or not based on negligence, shall be greater in amount than the purchase price paid by Buyer.

Absence of Warranties:
The condition of the items being offered varies.
The Buyer understands and agrees:
(1) any description or sample of the items given or furnished by Auctioneer is solely for identification, and does not create any warranty expressed or implied, that the item actually conforms to such description or sample
(2) Buyer or agent on Buyer’s behalf has inspected or has had the opportunity to inspect all of the items upon which Buyer will be bidding and/or does purchase
(3) all items are purchased and accepted by Buyer “AS IS”, “WHERE IS” and “WITH ALL FAULTS”. AUCTIONEER MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, AUTHENTICITY, QUANTITY, CONDITION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER SPECIFICATIONS, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR WARRANTY AGAINST PATENT, TRADEMARK, COPYRIGHT OR TRADE SECRET INFRINGEMENT
(4) in the event there are manufacturer warranties in effect for the item purchased, Buyer must make all claims thereunder directly with the provider of the warranty. No statement or statements of any other paragraph herein shall be construed to in any way contradict the provisions of this paragraph.

Acts of Others:
Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as directed by Auctioneer, and local, state and federal regulations. Neither Auctioneer, its agents, its employees or representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases Auctioneer, its agents and representatives from all liability thereof.

Limits of Liability:
In no event shall Auctioneer’s liability to a Buyer exceed the purchase price actually paid for an individual item or lot. A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of Buyer to any third party, personal injury, or any other direct, indirect, incidental or consequential damages. Buyer further acknowledges that each item it purchases at the sale represents a separate transaction, and that no one transaction shall be conditioned upon another transaction. Buyer hereby holds Auctioneer harmless from: (1) the acts or omission of any party who provided any items to Auctioneer for sale, (2) the acts or omission of the owner or Lessor of the auction site or the site where the auctioned items are stored, (3) any claims Buyer may have against Auctioneer, Auctioneer’s client(s) or any former owner of the property being sold, (4) Buyer’s failure in any way to properly inspect items and/or fulfill its obligations per the terms and conditions of the sale, as indicated within this document or as announced by the Auctioneer at the time of sale. Auctioneer is providing Internet bidding as a service to Buyer using a 3rd Party Bidding System. Under no circumstances shall Buyer hold Auctioneer liable for system failures resulting in Buyer’s bid not being properly submitted. In the event Buyer provides a deposit or payment using a Credit Card, Buyer acknowledges that it is purchasing under the As-Is, Where-Is terms of the auction and that Buyer shall waive all rights of chargeback based on any claims of misrepresentation, non-delivery or non-performance.

Right of Removal:
Auctioneer reserves the right to remove any person from the auction site and to refuse that individual’s bid, whether offered live, by proxy or by Internet. In such an event, any outstanding deposit will be immediately returned.

Indemnification:
Buyer shall indemnify, hold harmless and defend Auctioneer, owners and building owners from and against any and all losses, damages, liabilities and claims, including attorney fees, costs and expenses arising out of based upon or resulting from:
(1) failure to secure all safety equipment and to meet all applicable government safety standards in removing items purchased or used by Buyer
(2) failure to comply with safety instructions issued to Buyer from Auctioneer
(3) any act or omission of Auctioneer, owners, building owners or their respective agents, representatives or employees, relating to or affecting the items bid on or purchased by Buyer
(4) the claim of any third party claiming or challenging title to any items purchased by Buyer or claiming infringement of any proprietary interest
(5) the claim of any person resulting from Auctioneer offering for sale or selling the items purchased by Buyer
(6) any injury to Buyer or any other person or property of any type whatsoever caused during the inspection, dismantling, removing or transporting of items purchased by Buyer.

Bidder’s Number:
The bidder’s number is non-transferable. All bids made using the bid number will be the responsibility of the Buyer.