The Following Terms And Conditions Apply To All Items Sold By Industrico Auctions LLC
ALL PURCHASES THAT ARE NOT PAID FOR IN FULL WITHIN 48 HOURS ARE SUBJECT TO A 25% RESTOCKING FEE.
BY PARTICIPATING AND/OR BIDDING IN THIS AUCTION YOU ARE AGREEING TO THE FOLLOWING AUCTION AGREEMENT
BY PARTICIPATING AND/OR BIDDING IN THIS AUCTION YOU ARE ENTERING INTO THE AUCTION AGREEMENT AND AGREEING TO THE FOLLOWING TERMS AND CONDITIONS AS THE “BIDDER”
TERMS AND CONDITIONS
THIS AUCTION AGREEMENT (“the Agreement”) entered into on this date / / , by and between Industrico Auctions LLC (”Industrico”), and ______________________ (“Bidder”)
WHEREAS, Industrico is an on-line auction site;
WHEREAS, Bidder is desirous of participating in the on-line auctions conducted by Industrico and Industrico is desirous of having Bidder so participate in accordance with and in furtherance of this Agreement;
WHEREAS, the parties hereto have freely and voluntarily entered into this Agreement, and agree to be bound by the terms, conditions, promises, warranties and covenants contained herein; and
WHEREAS, the parties hereto desire to define their respective rights, duties and obligations between and as to each other and desire to be bound by, and abide by, the terms, conditions, covenants, representations, and warranties contained in and made a part of this Agreement.
NOW, THEREFORE, for and in consideration of the terms, covenants, warranties and conditions hereinafter set forth, the preambles hereinabove stated, and for other good, sufficient and valuable considerations, the receipt and sufficiency thereof mutually acknowledged and received, the parties hereto mutually agree, warrant and covenant as follows:
1. Industrico reserves the right to refuse any applicant a bidding card, the privilege of bidding at this auction sale, and to revoke such privilege at any time.
2. All descriptions of equipment in the catalog relating to this bidding term are believed to be correct, however, neither the owner of the equipment nor Industrico are responsible for any errors in description or conditions.
3. The equipment is available to the public for inspection prior to the sale. The descriptions provided are merely a helpful guide, and are in no way a warranty, representation or guarantee, either actual or implied. If catalog indicates there is a ROPS canopy on it and there isn't one on the machine, ask before you buy it. Some books indicate different years for the same serial number.
4. Industrico does not guarantee years. Any announcements made sale day by Industrico regarding the sale of this equipment shall take precedence over any printed matter.
5. The Auction will be conducted by offering the items by lot either individually or in groups.
6. The Bidder offering the highest bid accepted by Industrico shall be the purchaser of the offered lot and no purchaser shall retract his bid.
7. If a Bidder is registered at this auction under several Bid Cards, all purchases under all Bid Cards shall be considered for the purposes of interpreting the Terms, as if purchased under a single Bid Card.
8. A Buyer's Premium of ten percent (10%) will be charged on the last bid made or received (the "Hammer Price") for each item. All applicable sales tax will be added to the purchase price of all purchases deemed taxable in accordance with Federal, State and/or Local Laws.
9. Buyers who purchase titled items will be charged a $75 processing fee per titled item.
10. Risk of loss becomes to the buyer after payment is made. The buyer is responsible for insuring items purchased from the moment their bid is accepted.
11. Purchases shall be paid by bank wire, cashier or certified checks. All payments must be received within 48 hours of auction close.
12. Buyer will take immediate possession upon proper settlement, all sales subject to state sales tax laws. Settlement can be made at any time during the sale; however, SETTLEMENT MUST BE MADE WITHIN 48 HOURS OF AUCTION CLOSE. An invoice will be supplied to the purchaser at the time of settlement.
13. No equipment is to be removed until complete settlement for all items purchased has been made. Equipment may be removed after payment with a valid checkout ticket.
14. Industrico and/or its employees may at their discretion assist in loading equipment; however, Industrico and/or its employees are not responsible for any damages or loss incurred. Buyers are responsible for breaking down equipment for transport.
15. In the event a Bidder fails to pay for an item, Industrico may, at its discretion, treat the purchased articles as property of the Bidder and will hold possession and could resell such item without notice to and at the Buyer’s expense and recover from the Buyer any loss or cost incurred from resale.
16. Any dispute arising as to any bidding shall be settled by Industrico at its sole discretion and Industrico may immediately put the lot in dispute up again for sale. Industrico reserves the right to refuse any bid, which is considered to be an insignificant advance over the preceding bid. Bidder/Buyer is deemed to have accepted a lot when he makes a bid.
17. There shall are none and there shall be no guarantees or warranties, expressed or implied, statutory or otherwise of any nature whatsoever.
18. Each and every lot will be sold as is, where is.
19. Specifically, but not to restrict the generality of the foregoing, Industrico makes no representation or warranty that any of the lots sold conform to any safety or pollution standard, law or regulation, are fit for any particular purpose, are merchantable, able to be financed, or are of a particular age, year of manufacture, model, make or condition.
20. Bidder agrees that he has satisfied himself as to all matters relating to the items sold and is not relying on Industrico, nor are Auctioneers liable, for any matter in respect of the above.
21. Industrico may, at any time, at its sole discretion and without notice or liability to Bidder withdraw or cancel the sale of any lot, or offer any lots in groups or with privilege.
22. No sale shall be invalidated by Buyer for any reason whatsoever. It is Buyer’s/Bidder’s sole responsibility to inspect each piece of equipment Buyer/Bidder wishes to bid on. Buyer/Bidder must determine the condition of the machine and bid according to his own judgment.
23. If for any reason the Buyer fails to remove any lot within thirty (30) days of the date of sale, the lot shall be deemed abandoned, and Industrico, at its sole discretion may resell, remove and store the said lot at the Buyer's sole risk and expense. In addition, Buyer shall be liable for any rent incurred or damages suffered by Industrico because of Buyer's failure to remove any lot.
24. In the event Industrico is required to storage the equipment, for any reason, there shall be a charge of $100 per days for all items not picked up within fourteen (14) days from the auction close date.
25. If, for any reason whatsoever, Industrico is unable to make available or otherwise effect delivery of any lot or clear title to same, or any necessary documentation required in respect of any lot, whether before or after delivery of such lot, the Industrico's sole liability, if any, shall be the return of any monies paid on such lot upon return of the particular lot. Any lot the subject of this paragraph shall be returned or surrendered to Industrico forthwith upon demand to be at the sole option of Industrico.
26. Bidder acknowledges that an Auction Site is potentially dangerous place. Flammable, noxious, corrosive and pressurized substances are present, heavy equipment is being operated and electric circuits may be live. Every person at the Auction Site before, during and after the auction sale shall be deemed to be there at his own risk with notice of the condition of
the premises or the activities on the premises. No person shall have any claim against Industrico, their agents, employees, or principals for any injuries sustained nor for damages to loss property, which may occur from any cause whatsoever.
27. No titles will be given out on sale day. Unless you are a Florida resident paying sales tax, titles will be mailed out by certified mail the later of, (1) ten banking days after the last day of the sale, or (2) ten banking days after payment of your item is received.
28. Bidder, whether acting as principal, agent, officer or director of a company or otherwise, in any capacity whatsoever, and the company he represents, both jointly and severally agree: (a) to indemnify and save harmless Industrico and its consignors from any and all actions, causes of action, suits, damages, costs and losses of any nature, arising from the purchase or use of any item, or the attendance or participation of Bidder, his agents or employees, at the auction sale and/or on the auction site whether before, during or after the auction sale; (b) to be responsible for the payment of the purchase price and taxes due on all of Bidder's Purchases; and (c). that all rights and defenses available to Industrico hereunder shall extend to the Consignor.
29. Interest on overdue amounts will be paid by Buyer at a rate of 18% per annum or at such other maximum rate as allowed by law, together with any collection, including attorney fees, incurred by Auctioneers. All returned checks will be charged a minimum service fee of $25.
30. Hour meters are not verified or guaranteed in any way. Neither Industrico nor seller are responsible for hour meter/odometer discrepancies. Hour meters are assumed to be incorrect unless explicitly stated in writing.
31. Any lawsuits must commence place within six (6) months after the sale date or Buyer waives his right to file suit.
32. In the event any Court of competent jurisdiction determines that a portion of this Agreement is void and unenforceable, such portion shall be severed and stricken herefrom, and the remaining portions of this Release shall continue in full force and effect.
33. Any and all rights of Industrico are extended to any consignee of Industrico and to any Seller, as though they are a party to this Agreement.
34. Buyer/Bidder hereby agrees that any suit, action or proceeding relating in any way to this Agreement must be brought and enforced in the Circuit Court of Cook County in the State of Illinois and Buyer/Bidder hereby submits to the jurisdiction of each such court. Buyer/Bidder hereby waives and agrees not to assert, by way of motion or otherwise, in any such suit, action or proceeding, any claim that Buyer/Bidder is not personally subject to the jurisdiction of the above-named courts, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Buyer/Bidder consents and agrees to service of process or other legal summons for purpose of any such suit, action or proceeding by registered mail addressed to Buyer/Bidder at his address listed in the business records of Industrico. Nothing contained herein shall affect the rights of Industrico to bring suit, action or proceeding in any other appropriate jurisdiction. Buyer/Bidder and Industrico do each hereby waive any right to trial by jury, he or it may have concerning any matter relating to this Agreement.
35. Time is of the essence in this Agreement.
36. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their successors, assigns and their personal representatives.
37. This Agreement constitutes the complete understanding among the parties hereto and no alteration or modification of any of the provisions hereof shall be valid unless made in writing and signed by all of the parties hereto.
38. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but which together constitute one and the same instrument;
39. This Agreement contains the entire understanding of the parties and all prior Agreements, offers, acceptances, proposals, or any other writings of whatever kind or nature are hereby terminated and held for naught.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by participating and/or bidding in this auction.
Industrico Auctions LLC