ABSOLUTE AUCTION FRIDAY, MAY 12th at 9am (ET)
6995 DAVIS FERRY RD LOUDON, TN 37775
PRO TEAM AUCTION COMPANY, LLC
TERMS AND CONDITIONS OF SALE (“TERMS AND CONDITIONS”)
- By clicking the “Agree – Join Auction” button or signing the Bidder’s Registration Agreement, as applicable, you, as “Bidder”, accept that these Terms and the site-specific terms as printed in the catalog or noted in the online listing and the local auction site landing page, as applicable, constitute the entire agreement between you and ProTEAM Auction Company, LLC (“ProTEAM Auction”) (“us” or “we”) regarding the use of our bidding services with respect the auction and your on-site or online participation in the auction. Upon acceptance, we grant you the right to bid at the auction. We reserve the right to refuse any applicant the privilege of bidding, and we may revoke such privilege at any time. You acknowledge that: (a) we act as an agent of each consignor (collectively, the “Consignors”); and (b) the privilege to bid at the auction is being granted in reliance upon the representations, limitations, exclusions and disclaimers described in these Terms and those elements form an essential basis of the agreement between the parties. These Terms will survive and continue to apply in the event we suspend or revoke your right to attend or bid at the auction.
- The auction will be conducted by offering the items by lot (“Lot”), either individually or in groups. The highest bidder whose bid we accept shall be the purchaser and no purchaser shall retract its bid. All sales are final.
- You, whether acting as principal, agent, officer or director of a business entity or otherwise, in any capacity whatsoever, and the business entity you represent, both JOINTLY AND SEVERALLY agree: (a) to indemnify and save us and our Consignors harmless from any and all causes of action and losses arising from your, your employees or other representatives’ attendance at the auction site, inspection of items or taking part in the auction; (b) to be responsible for the payment of the purchase price and taxes, due on all of your 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 Consignor.
- We may, at any time, without notice or liability to you: (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.
- You acknowledge that we cannot guarantee the continuous or secure operation of, or access to, our mobile, web-based bidding platform and applications, or our timed auction lot terminal hardware. Our servers, computer or communications components and systems, or certain application functionality, are subject to failures, outages and delays beyond our control. We will not be held liable for any claims or alleged losses arising out of or relating to any of the foregoing events.
- You shall no, directly or indirectly, bid on any Lot: (a) of which you are the Consignor or associated of the Consignor; or (b) on behalf of any other person who is the Consignor or an associated of the Consignor of such Lot.
- 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, WE MAKE NO REPRESENTATION OR WARRANTY THAT ANY OF THE LOTS: (A) CONFORM TO ANY STANDARD IN RESPECT TO SAFETY, POLLUTION OR HAZARDOUS MATERIAL OR TO ANY STANDARD OR REQUIREMENT OF ANY APPLICABLE AUTHORITY, LAW OR REGULATION, OR (B) ARE FIT FOR ANY PARTICULAR PURPOSE, OR (C) ARE MERCHANTABLE OR FINANCEABLE, OR (D) ARE OF ANY PARTICULAR AGE, YEAR OR MANUFACTURE, MODEL, MAKE OR CONDITION, OR (F) ARE IMPORTABLE INTO ANY PARTICULAR COUNTRY OR THAT ALL THE SUPPORTING DOCUMENTATION IS PRESENT, YOU AGREE THAT YOU HAVE SATISFIED YOURSELF AND ARE NOT RELYING ON US, NOR ARE WE LIABLE, FOR ANY MATTER IN RESPECT OF THE ABOVE. YOU FURTHER AGREE TO REPAIR, AT YOUR COST, ANY LOT PURCHASED AT THE AUCTION TO A SAFE OPERATING CONDITION AND, WITHOUT LIMITATION, TO A CONDITION WHICH MEETS ANY STANDARD OR REQUIREMENT OF ANY APPLICABLE AUTHORITY, LAW OR REGULATION INCLUDING THOSE CONCERNING ANY USE TO WHICH THE LOT MAY BE PUT.
- You acknowledge that an auction site is a potentially dangerous place and hereby release us, 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.
- We shall settle any dispute arising as to any bidding and we may put the Lot in dispute up for sale again. We reserve the right to set bidding increments for each Lot and to refuse any bid which does not meet the applicable bidding increment.
- Purchases become the responsibility of and shall be and remain at your risk immediately upon acceptance of your bid. It is your responsibility to insure your purchases immediately. We shall not be responsible for any loss or damage to any Lot.
- Each purchased Lot will be subject to a buyer’s premium of ten percent (10%) on the ground, (12%) online. The payment must be made on the day of sale by cash (U.S. funds), wire transfer, cashier’s check, or personal or company check if accompanied by a bank letter of guaranty. Debit / Credit cards are accepted up to USD 3,500 for an additional three percent (3%) convenience fee.
- Any ONLINE (this does not include onsite) outstanding balance must be paid by Monday, May 15, 2023 by 4:00 P.M. (EST). We may apply any payment or deposit received from you or your affiliates towards any outstanding amounts otherwise due and owing to us or our affiliates in connection with any purchases, deficiencies or services rendered.
- You shall not be entitled to possession of any of your purchases until the total purchase price of all of your purchases have been fully paid including all applicable taxes. In the event you fail to pay the full amount due on any Lot within the prescribed time or fail to comply with any other of these Terms, we shall retain a possessory lien on all of your purchased Lots and have the right to resell such Lots by public or private sale without providing you with notice of any kind. Should we resell any Lot, the net proceeds therefrom (after deducting commission of: (a) 10% buyer’s premium on all Lots resold; and (b) any costs) shall be credited to your original account and you shall upon demand, pay us, as damages, any deficiency arising from the resale.
- All purchases must be removed from the auction site, Friday, May 12 (after auction completes), Monday-Wednesday, May 15-17th, 2023 between the hours of 9:00 A.M – 4:00 P.M. (EST), unless prior arrangements are made with Auction Manager. ALL ITEMS MUST BE REMOVED BY WEDNESDAY, MAY 17 BY 4PM, NO EXCEPTIONS. All items must be removed by Wednesday, May 17th by 4pm ****No Exceptions** You shall bear all costs, responsibility and risk of such removal. We reserve the right to require proof of adequate insurance coverage from you for purchased requiring dismantling, modification rigging or hot cutting. You agree to indemnify and save both the Consignor and us harmless against any damage caused by your acts. If for nay reason you fail to remove any purchase within the time specified, the purchase shall be subject to storage charges, as posted at the auction site, and may be deemed abandoned. In such event, we may resell it per the specified term above, or remove and store the purchase at your sole risk and expense. You shall be liable for any rent incurred or damages suffered by us because of your failure to remove any purchased Lot.
- No sale shall be invalidated by reason of any defect or inaccuracy in any of the Lots by reason of their being incorrectly described on our website, catalog or elsewhere and we shall bear no liability in respect of any such fault or errors. The listings have been prepared as a guide only, based on the information from sources we believed to be reliable and from the Consignor; but we cannot guarantee or warrant their accuracy. It is your responsibility to inspect all equipment and to make your own inquiries prior to bidding.
- All necessary documents will, if available, be delivered immediately to you against payment in full of the purchase price and will otherwise be mailed within ten (10) banking day of collection of the purchased Lots. Availability of documents is subject to provision of the same by Consignor. Documents provided will be prepared to be effective only in the jurisdiction in which the auction is being conducted.
- If, for any reason whatsoever, we are 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, our sole liability, if any, shall be the return of any monies paid by you to us to purchase such Lot upon return of the particular Lot. Any Lot for which clear title cannot be provided shall be returned and surrendered to us upon demand.
- You shall pay interest on overdue amounts at a rate of 18% per annum or at such other maximum rate as allowed by law, together with any legal or collection costs we incur.
- These Terms may not be amended except by mutual agreement. You may not assign any rights or benefits under this Agreement without our prior written consent.
- Subject to clause 18, except to the extent of our gross negligence or specific intentional misconduct, and to the maximum extent permitted by applicable law, we and our staff and subcontractors shall not be liable – on whatever legal grounds – for any damages or losses whatsoever (including direct, indirect, incidental or consequential damage of any kind, including loss of revenue, profits, or reputation, or the cost of substituted goods). If, regardless of the previous sentence, we are found to be liable to you, then our total liability to you for any damages and losses of any nature arising out of or in connection with these Terms, the auction, or our services, shall not exceed USD 1,000.
- These Terms shall be governed by and interpreted under the laws of the state of Tennessee without giving effect to any of the principles of conflicts of laws. Any action against Auctioneers arising from or relating to these Terms or any bid or purchase hereunder shall be commenced in the state court for Cocke County, Tennessee or federal court in Knox County, Tennessee and Bidder irrevocably consents to the exclusive jurisdiction of such courts in all respects.
- If you claim an exemption based on goods being shipped out of state for use out of state, then the goods must be delivered to and shipped by a common carrier. You shall arrange for and assume all risks and costs associated therewith.
- We do not allow participation by any person nor authorize purchases or shipments in violation of applicable export and re-export control laws and regulations. You represent that you are not restricted by any such requirements from purchasing Lots and that you will not take any actions in violation of these laws and regulations without obtaining prior authorization from the competent government authorities as required by those laws and regulations. You accept and expressly assume full responsibility for determining licensing requirements and obtaining license authority, as necessary, for the export or import of all Lots purchased. If you act in a manner that is contrary to any of the foregoing, we and our Consignors do not assume any liability and you cannot claim any indemnity, reimbursement or compensation of any kind arising out of or in connection with such activity.
- You acknowledge and agree that: (i) the bid amounts, auction pricing and overall results, any data obtained from our catalogs or noted in our online listings or the audio/video associated with an auction (collectively, “Auction Data”) may only be accessed, displayed and used by you for the sole purpose of your bidding at the auction; (ii) you may not without our express written permission, directly or indirectly, through any means whatsoever, record, capture, store, reproduce, rebroadcast, retransmit, redistribute, or create derivative works from any Auction Data; (iii) we and our licensors own all right, title and interest in and to all Auction Data; and (iv) you shall not repackage, resell or otherwise commercialize or exploit any Auction Data in any manner whatsoever.
- We collect and use the information supplied by you during the registration process for the purposes of identifying you and your individual representative as the bidder and processing your bids and purchases of items and/or other auction-related services you contract or request us, and/or our affiliates or service providers, to perform or supply or that are necessary to complete your purchases. If you authorize or where the law permits, ProTEAM Auction will communicate with you by electronic means about the products and services of its multi-channel solutions. Reasonable safeguards are used to maintain protections for personal information.
- If we are the prevailing party in any dispute, proceeding, or alternative dispute resolution process, related in any way to these Terms, or to the auction, or to any bid or purchase under these Terms or at the auction, we shall be entitled to recover from the adverse party all costs, including attorney’s fees, incurred in connection therewith.