Auction Terms & Conditions These Terms & Conditions apply to the Baker Feed & Seed Auction conducted on June 8, 2019 in Milford, OH.
1. PAYMENT: All items purchased MUST be paid with cash, MC/Visa/Amex/Discover, or approved checks. Approved checks are issued by customers having established credit with Asset IQ or with positive picture I.D. (Drivers License, Passport or state issued I.D.).
2. SETTLEMENT: Unless the purchaser has made arrangements with the auction firm prior to the auction all invoices must be paid in full before purchaser leaves the premises and within 30 minutes of the auction conclusion. Any person not complying with these conditions or anyone issuing a non-sufficient fund check agrees to be liable for a 25% surcharge upon settlement. Time is of the essence.
3. TITLE: When the article is announced SOLD by the Auctioneer, title to said merchandise passes immediately to the purchaser. Asset IQ, its personnel and independent contractors are not acting as the purchasers' security agent and assume no responsibility for any missing items. Further, it is understood Asset IQ provides no one for purposes of checking items as they are removed.
4. INSPECTION: All goods have been available for inspection prior to the auction and are being sold on an as-is, where is basis with no warranties, either expressed or implied, as to the correctness of description, genuineness, authenticity or fitness for a particular purpose.
5. REMOVAL: Purchaser, by bidding, agrees to abide by the following removal times: until 6PM day of the auction and from 10AM to 4PM Sunday June 9. ANY ITEM NOT REMOVED BY Sunday June 9, 2019 At 4:00 PM WILL BE CONSISDERED ABANDONED BY THE PURCHASER AND NO REFUNDS WILL BE GIVEN. PURCHASERS OF THE Vertical Mixer and Molasses Mixing Machine may conduct removal on Monday June 10 by appointment. Forklift will be used during removal and may be picked up on Tuesday June 11 by appointment.
6. DISPUTES: In the event of a tie bid or a disputed bid, the Auctioneer in his/her sole discretion may determine the successful bidder or may resell the item(s). Should a dispute arise after the auction, Asset IQ’s sales records and tape recordings, if applicable, shall be deemed final. No dispute will be recognized once an item has left the premises.
7. GROUPING: Asset IQ acknowledges that they are the agents of the seller, and reserves the right to group and divide any or all lots for the benefit of its client.
8. SALES TAX: State sales tax laws will be followed. State sales tax will be charged when applicable unless the bidder has filled out all the necessary paperwork, including but not limited to state tax exemption forms with their tax I.D. number. Sales tax will be charged on the inventory. Please provide proof of tax exemption at registration.
9. BUYER PREMIUM: The purchaser is the person making the last and final acceptable bid. A fifteen percent buyer premium will be added to the high bid to determine the total purchase price. An additional three percent fee will be added to purchases paid for by credit card.
10. POOLING: Pooling or bid rigging is fraud and a federal offense under the Sherman Anti-Trust Act. The Auctioneer reserves the right to bid on behalf of the seller if he detects or suspects this fraud being perpetrated by two or more bidders.
11. AUCTION DAY ANNOUNCEMENTS: Any announcements made by the Auctioneer on the day of the Auction take precedence over any printed materials or previous assertions.
12. ADMITTANCE: Asset IQ reserves the right to refuse admittance to anyone for cause, or to cause to have removed from the auction arena anyone who interferes with the auction activities.
13. LEGAL REMEDY: By your bidding you acknowledge complete acceptance of these terms and conditions, whether signed or not, creating a binding contract. Failure to comply after purchase may result in any legal recourse available. All parties agree that any legal disputes shall be decided by binding arbitration in Clermont County, Ohio under the rules and procedures of The American Arbitration Society. By purchasing, the buyer further agrees to hold harmless the sellers and Asset IQ LLC for the costs of all litigation including, but not limited to, attorney fees (not to exceed $400.00 per hour), court costs, collection fees (not to exceed 40%), transportation and storage costs, and any other associated costs or fees.
RISK CLAUSE We the undersigned (Purchasers), acknowledge the purchase of personal property as outlined by invoice from Asset IQ. BUILDING DAMAGE: Purchasers hereby agree to be totally responsible and liable to Asset IQ, building owner or their agents for any and all damages resulting to the building or building from the removal of any goods and/or purchases from said buildings, and agree to restore damaged areas to the condition in which said buildings were in, on the day prior to the removal. Purchasers further agree that the restoration is to be done immediately upon the completion of the removal of purchasers’ equipment and solely at the purchaser’s expense. PROPERTY DAMAGE: Purchasers agree to be responsible to other purchaser and/or Asset IQ for damage done to other equipment or personal property during the removal of Purchasers’ merchandise. Purchaser acknowledges that their monetary responsibility may be up to the full replacement amount plus reimbursement of any reasonable attorney fees incurred. Purchasers further agree to maintain the necessary insurance coverage to indemnify Auction Firm and/or Sellers for said losses or to act as a self-insured. BODILY INJURY: Purchasers acknowledge that they, their employees, workers and/or contractors are not employed by the Auction Firm or the sellers. Purchasers further agree to indemnify Asset IQ and Sellers and to protect, defend, and hold harmless, from and against any and all lawsuits, loss, cost, damage, injury, loss of daily income, or expense, including without limitation, reasonable attorney fees, which Asset IQ or Sellers may incur by reason of having a claim asserted against them for: (I) injury to purchaser or purchaser’s employees, contractors, or agents occurring during the removal of Purchaser’s items; (II) injury to any and all persons and property during the removal of Purchaser’s items; (III) injury to purchasers’ employees or agents while on the premises. Asset IQ and/or Sellers shall be entitled to participate in the defense of and such action by council of its own choosing.
Seller User Terms
Bidder User Terms