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EquipNet Auctions Terms and Conditions:
TOTAL PURCHASE PRICE Payment is due upon successful bid(s). EquipNet, Inc. (“EquipNet”,or” EquipNet, Inc”.) will require a deposit prior to bidding of not less than $400.00 or twenty five percent (25%) of the Buyer`s aggregate PURCHASE PRICE estimate with the balance due upon successful bid. EquipNet, Inc. may contact bidders requesting credit card hold or wire transfer confirmation as a deposit. If no deposit is received upon request EquipNet, Inc. reserves the right to refuse or cancel Buyer`s bids with Penalties and re-sell Goods.
By clicking on the “I Accept” button you are agreeing to be bound by the following terms and conditions, including the terms of service incorporated herein. If you do not accept all of the terms, do not click on the “I Accept” button.
Unless otherwise stated as a part of this registration, EquipNet, Inc.’s standard member terms of service are applicable to auctions. The below terms and conditions are additional terms that relate to this specific event.
All auction registrants are required to be an EquipNet, Inc. member and have electronically agreed to the standard member terms and the specific member terms for buyers. Bids submitted by non-EquipNet, Inc. members may be deemed invalid.
Final Auction Bid Acceptance and Payment
All auction equipment is subject to internal redeployment, cancellation of listing, or other sale prior to formal acceptance of an auction bid by the seller. The formal acceptance of an auction bid is not final until an invoice has been sent, timely payment has been received in full, a visual inspection of equipment satisfactory to EquipNet, Inc. has been made prior to shipment release, and timely shipment arrangements acceptable to EquipNet, Inc. have been finalized.
Bidder understands and agrees that all bids submitted are binding. Auto Progressive Bidders with a high bid that closes in Yellow Status at the conclusion of a smart auction will have that Auto Progressive Maximum Bid automatically submitted. In the event that this submitted Auto Progressive Bid equals or exceeds the minimum acceptable reserve amount of the Seller, this bid will be recorded at the minimum acceptable reserve amount as the winning bid, move to green status, be deemed sold and added to the bidder’s invoice. Auto Progressive bidders at the time of bid submittal will have the option, by checking a box located on their bidding screen, to opt out of the automatic minimum reserve acceptance. If Bidder opts out of the automatic minimum reserve acceptance, any high bid at the close of the auction that does not surpass the minimum acceptable reserve amount will remain in yellow status and such final bid will be presented to the Seller who will have no obligation to consummate a sale with the bidder for this item. Seller retains the right to confirm a sale on any item that closes in yellow status at the recorded high bid amount.
Bids that have been submitted that remain in Yellow Status at the close of a Smart Auction will expire 3 calendar business days after the close of the auction unless EquipNet sends an invoice for such yellow status item(s). EquipNet sending an invoice for an item that closed in Yellow Status indicates that the bid(s) have been accepted subject to all the terms above and payment is due. Only after the above conditions have been met will a sale be final. Members should not rely on other verbal or written forms of communication regarding bids.
Payment in full is due within 1 business day from the time an auction invoice has been sent. If payment is not received in full within 1 business day from the time an auction invoice has been sent any and all bids made by the member may, at the sole discretion of EquipNet, Inc. may be deemed null and void and the transaction cancelled. If a member fails to pay for their purchase, cancels their purchase without just cause, or fails to remove their equipment as required EquipNet reserves the right to cancel the purchase and charge an administrative fee equal to 16% of the accepted offer in addition to the 16% Buyers Premium. Also, if payment is not received within 1 business day from the time an auction invoice is sent EquipNet, Inc. reserves the right to suspend or terminate a member’s account without further notice. If a member fails to pay because funds were returned or rejected, EquipNet, Inc. may charge a returned check fee of $100.00 as well as other fees and premiums mentioned above.
It is the buyer’s responsibility to arrange and pay for the removal, packing, shipping, and insurance as required on items won at the Auction. Cost and responsibility of removal, within the removal period, remains with the buyer. All items must be removed immediately or within the specified removal period or shall be deemed abandoned and resold by EquipNet, Inc. All quotes must be obtained after the auction has concluded and the item(s) have been paid for.
IN SOME INSTANCES THE SELLER IN IT’S SOLE DESCRETION MAY ALLOW SELECT RIGGER / VENDORS ONTO THE SITE TO CONDUCT REMOVAL/RIGGING SERVICES AND AS SUCH BUYER UNDERSTANDS AND AGREES THAT AS A PART OF THE TERMS OF THIS AUCTION THAT ANY COMPANY RETAINED BY THE BUYER FOR EQUIPMENT PICK-UP / REMOVAL WILL NEED TO BE APPROVED BY THE SELLER AND WILL BE REQURED TO PROVIDE THE APPROPRIATE DOCUMENTATION & INSURANCE COVERAGE POLICIES AND FURTHER AGREES TO THE FOLLOWING INDEMNIFICATION: EQUIPMENT PICK-UP & REMOVAL INDEMNIFICATION: To the MAXIMUM extent permitted by law, BUYER and/or BUYERS AGENT AS UNDERSIGNED indemnifies, defends and holds EQUIPNET INC. and the SELLER and all its affiliates harmless against any and all claims for liability and damage, including, but not limited to, reasonable attorney's fees arising out of any claim for personal injury, sickness, and, or, death to any persons and for any property damage caused by the transportation, and, or, the transfer of purchased equipment from or within the facility or to the dock including but not limited to the transfer of purchased material to the BUYERS vehicle including any or all vehicles of any company including but not limited to any rigging or transportation companies acting to transport BUYERS purchases whether or not such claims are based in part on the active or passive negligence or participation in the wrong or an alleged breach of a statutory duty or obligation on the part of EQUIPNET INC. and the SELLER. This indemnification is inclusive of residual or hazardous chemicals or other hazardous material on or in the purchased items, whether or not due to the negligence of EQUIPNET INC. and the SELLER or any affiliate, during the commencement of the dismantling or load out or other work by BUYER and /or any company including but not limited to any rigging or transportation companies employed by the BUYER to act as agent to transport for the BUYER. The word "persons" as used herein, shall be construed to imply both the plural and the singular, as the case may demand, and shall include corporations, companies, associations, societies and municipal corporations as well as individuals. BUYER AND BUYER’S AGENTS are solely responsible for safely rigging and securing all loads to their vehicles and, or, vehicles they designate to remove the equipment and or machinery from the premises. Any vehicle that is deemed to be unsafe in the sole discretion of EQUIPNET INC. and the SELLER will be denied access to the facility / Dock.
Bidder understands and agrees that load out services are not applicable to all auctions; further, if load outs are applicable as relating to any specific auction, load outs will ONLY include loading onto a single standard vehicle or flatbed and will NOT include loading to a container or multiple load outs to several vehicles unless arrangements have been agreed to prior to the event with EquipNet or the Seller.
1. EquipNet, Inc. charges a Buyer’s Premium at the time of sale, which is an additional charge above and beyond the equipment bid. A 16% Buyer’s Premium will apply at this sale.
2. All items, unless otherwise stated, are sold “As Is, Where Is, With All Faults”. There are no warranties made by EquipNet, Inc or the Seller(s) as to the merchantability or fitness for any specific or particular use.
3. Payment in full is due and shipping arrangements must be made within 1 business day from the time an auction invoice has been send. Visa, MasterCard, or Wire Transfer will be the only acceptable forms of payment. Credit Card payments will be accepted for balances below $10,000.00. Wire Transfers will be required for balances exceeding $10,000.00. No equipment will be shipped or otherwise available for pick up until payment has been received in full, including any and all fees and applicable taxes.
4. While the descriptions and information contained in the advertised material for this sale are, to the best of EquipNet, Inc.’s knowledge, believed to be correct, EquipNet, Inc. and the Seller(s) will not be responsible for any deletions, discrepancies, or inaccuracies. Any announcements made at the auction or sale via electronic email or otherwise will take precedence over any previous announcements, advertisements or distributed material.
5. Taxes will be added to the purchase price of all taxable items. Tax exempt buyers may need to present a valid tax exemption certificate as a part of their registration, otherwise their purchases will be subject to any applicable taxes as governed by local, county, state or federal law.
6. Where applicable, removal period for purchased items will be posted on the website or announced via email or at the auction or sale. Otherwise, all equipment removal is to be immediate. Cost and responsibility of removal, within the removal period, remains with the buyer. All items must be removed immediately or within the specified removal period or shall be deemed abandoned and resold by EquipNet, Inc. Positively no refunds or credits for shortages or claims relating to items won at auction will be considered after goods leave the seller's or seller's agent's premises. Additional Charges may apply to orders requiring special handling.
7. In making a bid the buyer agrees to comply with the terms and conditions as herein stated or additional terms as made or distributed via email or at the sale or auction. Failure of the buyer to comply with the terms and conditions will be treated as a breach and, if applicable, the deposit as made will be retained. Further, EquipNet, Inc. may resell any purchased item publicly or privately with the liability for any deficiencies and cost incurred to affect the sale remaining with the buyer.
8. EquipNet, Inc. reserves the right to combine single items into lots and add or delete items prior to offering the item individually. Bids, which in the opinion of EquipNet, Inc. are not commensurate with the value of the item offered, may be rejected. All Online and Webcast auction sales are with reserve unless the goods are, in explicit terms, put up without reserve. In an auction with reserve, EquipNet may assign reserve prior to or during an Auction and may withdraw the goods at any time until the final bid acceptance. EquipNet, Inc. reserves the rights to include assets from more than a single seller to be sold throughout the sale.
9. EquipNet, Inc. or Seller(s) shall not be held liable for any claims with respect to environmental problems arising out of hazardous materials which may be contained in items sold. Certain pieces of equipment may contain residual chemicals or elements. It is the Buyers responsibility to safely secure the purchased item in compliance with all applicable governmental safety standards in using, selling, and transporting purchased items.
10. It is the responsibility of the buyer to obtain proper licenses where required for the export of any items that are considered controlled commodities; restricted from export outside of the United States without proper export licenses.
11. Select items are subject to prior sale, redeployment, or transfer. All bidders are advised to inspect each item individually or as a lot during the preview period prior to bidding. Buyers understand that inspection may be limited to website postings, images, and descriptions.
12. Additional terms and conditions, as posted on the EquipNet website, may supersede those listed above and such announcements may be made at the time of the sale or auction.
13. Auctions featuring Pharmaceutical equipment may include a Tablet Press or other equipment requiring additional documentation as a part of a final sale. Please note without exception that any successful Bidder purchasing such items will be required to provide EquipNet with the appropriate DEA License, documents, or resale certificate.
EquipNet Inc, (“EquipNet”) provides a service (the "Services") that matches buyers with sellers of used equipment (the "Equipment"). As a result of its limited role, EquipNet has no control over the quality, compatibility, safety or legality of the Equipment offered for sale. These specific Auction Terms will become a part of and incorporated into the EquipNet, Inc. General Terms of Service, the current version of which can be found at www.equipnet.com (the “General Terms”). Accordingly, the term “Agreement” as used in the General Terms shall mean the General Terms plus these specific Auction Terms. All capitalized terms used and not defined in this Addendum will have the meanings given to them in the General Terms.
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