This is an online, internet only, Timed Auction. All bidding activity will take place online. There is a two-minute soft-close enabled on each lot. This means that if a bidder enters a bid within two minutes of the lot’s initial closing time, a two-minute extension would be added on. The lot will not close until there are no additional bids for two minutes.
1. Fair Brothers Auctions (Auctioneers) hereby grants to the online account holder and/or the party whose signature appears on the Bidder's Registration Agreement (Bidder), the right to use the number shown hereby for the purpose of bidding at an auction sale to be conducted by Auctioneers. Such right is granted at the Auctioneer's sole discretion and may be revoked at any time.
2. You as the Bidder, acknowledge that you have received, read and understand these terms as listed, and agree to comply with and be bound by such.
3. The Auction will be conducted by offering in the terms by Lot (Lot), either individually or in groups. The bidder offering the highest bid accepted by the Auctioneers shall be the purchaser (Purchaser) of the offered Lot. Purchaser accepts a lot when bid is made. No purchaser shall retract it’s bid. All sales are final.
4. You as the bidder, whether acting as principal, agent, officer or director of a company, business entity, or otherwise, in any capacity whatsoever, and the company or business entity you represent, both jointly and severally agree: (a) to indemnify and save harmless Auctioneers and its consignors from any and all actions, causes of action, suits, damages, costs and losses of any nature, arising from the attendance or participation of bidder, the bidder’s agents or employees, at the auction sale, inspection of items and/or on the auction site whether before, during or after the auction sale; and (b) to be responsible for the payment of the purchase price and taxes due on all bidder’s purchases, regardless of whether you remain in possession of your assigned bidder number or not; (c) that all rights and defenses available to us hereunder shall extend to the Consigner.
5. You as the bidder, shall not, directly or indirectly, bid on any Lot: (a) of which you are the Consignor or associate of the Consignor; or (b) on behalf of any other person who is the Consignor or an associate of the Consignor of such Lot.
6. Some items in the Auction may be subject to a Reserve. Such items will be clearly identified as having a Reserve.
7. The bidder grants to the Auctioneers a security interest in the Purchases, to secure payment of the purchase price. In the event of non-payment, the Auctioneers may proceed to file the Bidder Registration Agreement as a financing statement to perfect the security interest granted by this Security Agreement.
8. There shall be no guarantees or warranties, expressed or implied, statutory or otherwise of any nature whatsoever in respect of the Lots offered at the Auction. Each and every Lot will be sold "as is where is." Specifically, but without limitation, Auctioneers make no representation or warranty that any of the Lots:
(a) Conform to any standard in respect of safety, pollution or hazardous material or to any standard or requirement of any applicable authority, law or regulation
(b) are fit for any particular purpose
(c) are merchantable or financeable
(d) are of any particular age, year of manufacture, model, make or condition.
(f) are importable into any particular country or that all the supporting documentation is present.
You, as the Bidder agree that you have satisfied yourself and are not relying on the Auctioneers, nor are Auctioneers liable for any matter in respect of the above. Bidder further agrees to repair, at your cost, any lot purchased at the Auction to a safe operating condition and, without limitation, to a condition that meets any standard or requirement of any applicable authority, law or regulation including those concerning any use to which the Lot may be put.
9. You as the Bidder, acknowledge that an auction site is a potentially dangerous place. Every person at the auction site at any time shall be there at their own risk and Bidder shall so advise their companions, agents, and/or employees. You as the Bidder, hereby release Auctioneers, our affiliates, and our and their respective agents and employees from any and all claims and alleged losses, whether known or unknown, arising out of or relating to any injuries or harm sustained, or for damages to, or loss of, property, which may occur from any cause whatsoever.
10. Auctioneers may, at any time, at their sole discretion and without notice or liability to Bidder:
(a) withdraw or cancel the sale of any Lot,
(b) extend the bidding deadline for Lots or
(c) offer any Lots in groups or with privilege.
11. Any dispute arising as to any bidding shall be settled by Auctioneers at their sole discretion, and Auctioneers may put the Lot in dispute up for sale again. Auctioneers reserve the right to refuse any bid that they consider to be an insignificant advance over the preceding bid.
12. Purchases become the responsibility of and shall be at the risk of the Purchaser upon acceptance of his bid. It shall be the responsibility of the Purchaser to insure his purchases immediately. Auctioneers shall not be responsible for loss or damage to any Purchase.
13. All payments must be made to Auctioneers by credit card, cash, E-Transfer, or wire transfer. Lots must be paid in full the Friday following the close of the Auction.
14. Purchaser shall not be entitled to possession of any of their Purchases until the total purchase price of all their purchases, including all applicable goods, sales or use taxes, has been fully paid. In the event, the Purchaser fails to comply with any Terms, Auctioneers at their sole discretion have the right to resell such Purchases by public or private sale without notice to the Purchaser. Should Auctioneers resell any Purchase, the net proceeds therefrom (after deducting commissions and any costs) shall be credited to the original Purchasers account and the original Purchaser shall forthwith upon demand pay Auctioneers, as damages, any deficiency arising from the resale.
15. All purchases must be removed from the auction site within the time announced or posted at the auction site, and all costs, responsibility and risk of such removal shall be borne by purchaser. Purchaser shall use prudence in effecting such removal. Auctioneers reserve the right to require proof of adequate insurance coverage from any Purchaser for Purchases requiring dismantling, rigging or hot cutting. Purchaser agrees to indemnify and save harmless both Consignor and Auctioneers against any damage caused by the act of Purchaser and/or their agents in connection with the dismantling or removal of any Purchase. If, for any reason, Purchaser fails to remove and store the said Purchase at Purchasers' sole risk and expense. Purchaser shall be liable for any rent incurred or damages suffered by Auctioneers because of Purchasers' failure to remove any Purchase.
16. The Listings have been prepared as a guide only, based on information from sources believed to be reliable and from the Consignor; however, its accuracy cannot be guaranteed or warranted. No sale shall be invalidated, nor shall Auctioneers be liable as a result of defects or inaccuracies in the Listings. Bidder acknowledges that all Lots were available for inspection prior to the Auction and that it is their responsibility to inspect all equipment and to make their own inquiries prior to bidding.
17. If, for any reason, Auctioneers are unable to make available or deliver any purchase or clear title (if stated as such) to the same, or documentation required in respect of any Purchase, whether before or after delivery, Auctioneers sole liability, if any shall be the return of monies paid in respect of such purchase upon its return by Purchaser. Any such Purchase shall be returned or surrendered upon demand by Auctioneers.
18. In the event a Bidder fails to pay any or all of the purchase price for any Lot within the prescribed time or fails to comply with any other term or condition of sale, all deposits and partial payments shall be forfeited and credited against the Liquidated Damages (as defined below). Successful Bidders who do not pay for a Lot are liable, for immediate payment to Auctioneers, and at Auctioneer’s election, to either (i) twenty (20%) of the purchase price plus any applicable Buyer’s Premium (the "Liquidated Damages") or (ii) the actual calculated damages for any price deficiency and costs and fees associated with the resale of a Lot. The Liquidated Damages are a good faith, reasonable and genuine pre-estimate of Auctioneer’s damages resulting from a successful Buyer's payment default.
19. A Lot paid in full must be removed from the Auction site within the time announced or posted, unless otherwise agreed to by Auctioneers. If you the Bidder fail to remove any Lot within the prescribed time such Lot shall be deemed abandoned and Auctioneers at its sole discretion may (i) resell the Lot in accordance with Section 18, with any surplus above the Bidder’s bid amount less any Storage Fee (defined below) credited to Bidder’s account; or (ii) store the Lot at Buyer's sole risk and expense at the greater of $25.00 per day or 2% of the purchase price per month ("Storage Fee"), whichever is higher.
20. A 3% Administration Fee will be charged on any credit card payment.
21. All Successful Bidders are subject to pay an Online Service Charge/Buyer’s premium as follows: 7% up to a maximum of $1,000 per item plus GST if applicable.
22. The bidder acknowledges that the auctioneer cannot guarantee the continuous and/or secure operation or access to any "online" technologies. All technologies are subject to, but not limited to, failure, outages and/or delays. The auctioneers will not be held liable for any claims and/or alleged losses related to the use of any technologies or process used in the auction.
23. These are the complete Terms and may not be amended except by agreement in writing signed by the Auctioneers and the respective Purchaser.
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