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.
Terms of the Total Purchase Price
Payment is due upon successful bid(s). EquipNet, Inc. ("EquipNet", or "EquipNet, Inc".) may require a deposit prior to bidding of no less than $400.00 USD 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. Debit cards used for deposit will have funds designated as unavailable and will be returned to your account as per your bank’s individual policy.
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 (Proxy Bid) 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 5 business days from the time an auction invoice has been sent. If payment is not received in full within 5 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., 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 18.5% Buyers Premium. Also, if payment is not received within 5 business days 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 payment fee of $100.00 as well as other fees and premiums mentioned above.
Bidder expressly acknowledges and agrees that all required taxes connected with the sale of any purchased assets, including (without limitation) applicable sales taxes, VAT, IVA shall be paid to EquipNet, Inc. (unless otherwise noted) as required at the time of sale of such assets. Tax Exemption may be requested whereby Buyer must supply a valid resale certificate or tax exemption form which is acceptable to EquipNet, Inc.in its sole discretion for each purchased asset in which tax exemption is requested. In the absence of such valid exemption taxes shall be collected.
It is the buyer’s responsibility to pay for the removal, packing, shipping, and/or 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 within the specified removal period or shall be deemed abandoned and resold by EquipNet, Inc. Based on the seller's deadline, EquipNet has the right to abandon the buyers purchased listing if the items are not picked up during the provided collections window. Abandonment may occur if the buyer decides not to move forward with a logistics quote; if the buyer agrees to abandon the listing with no refund; and lastly, if EquipNet does not receive response from the buyer after multiple attempts at communication. A refund for the purchased equipment will NOT be applied if the equipment is deemed abandoned.
Please be sure to read the Listing description carefully as ALL items sold are subject to a handling fee. Charges for removals may be applicable as provided by EquipNet or the seller. EquipNet loading charges are figured using industry recognized box & pallet size calculations and as well as the weight of the purchased items. As such, oversized (extra wide/ long or excessively heavy items) may be designated as custom; and will be priced accordingly on the listing. Crating and additional packing services are optionally available, please contact our Logistics Team x2504 for a quote/more details.
If you would like to arrange shipping and packing through EquipNet or would like to pick up the equipment personally, please contact EquipNet Logistics at 781-821-3482 x2504. Pick up appointments and Quotes will be scheduled/requested ONLY after the equipment has been paid for in full.
IN SOME INSTANCES THE SELLER IN ITS SOLE DISCRETION 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 REQUIRED 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.
As a part of the terms and conditions of the auction, and in consideration of receiving permission to enter on the premises Bidder hereby releases, waives all claims, assumes all risk, indemnifies and forever discharges Seller and EquipNet and its subsidiaries, officers, employees, agents, directors, servants, affiliated organizations and licensees from every and all claims that may result from my being within the perimeter of this facility. Bidder assumes the inherent and extraordinary risk involved in the activities associated with attending the auction inspection and auction event, and expressly assumes the risk of and accept full responsibility for any and all injuries (including death, and paralysis) and accidents that may occur as a result being on the premises.
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.