MURATEC MJ60 CNC TURNING CENTER, YEAR 2015

Timed Online Sales Terms and Conditions as set forth by Harbor Machinery, Inc. referred to, herein, as HMI. In this agreement the term Bidder, Buyer, Purchaser shall be used interchangeable and be understood to be one and the same.

REGISTRATION: All bidders must register for the sale by providing current, complete and accurate information. Bidders are required to provide full name of contact person, full name of business, entity, complete address, phone number, fax number and email address. It is the registrant’s responsibility to ask for clarification of any terms and conditions not clearly understood, HMI, at its sole discretion, may deny registration to any person or entity. All bidders and buyers must be 18 years of age or older to participate in this timed online sale.

RESERVE: All items in the timed online sale will be sold to the highest bidder. Some or all of the items may be auctioned with minimum reserve prices, and/or subject to seller(s) right of confirmation. On lots with a reserve HMI reserves the right to bid on behalf of the seller. HMI reserves the right to accept or reject any or all bids.

AGENT: HMI is providing a service and acting as an agent for the Owner/Seller in an online timed sale format and is not responsible for the statements or actions of other parties which include, but not limited to, owner/seller’s principles, officers, directors, employees or other agents of owner/seller, or any other party.

BUYERS PREMIUM: All bidders will be charged a percentage on each item purchased online. A buyer’s premium fee of 18% will be added to the final sale price of all lots purchased.

INVOICE: All successful online bidders will receive an invoice by email or fax within 24 hours of the close of the timed online sale.

PAYMENT: Online sales must be paid for in full within 24 hours of receiving the invoice unless prior arrangements have been accepted and approved by HMI. All prior payment arrangements must be approved before the start of the timed online sale. Accepted methods of payment are wire transfer, certified/cashier check or cash.
We do not accept credit card payment for payment of items awarded. Caution your credit card may be charged in the event of default as described in the DEFAULT section of this agreement. Payment in full must be received prior to the removal of any purchased item(s) or lot. Full payment means the total amount due for all items and or lots purchased including the buyers premium and any applicable sales taxes, or any other charges stated on the invoice. All invoices must be paid in full within the time described herein. All invoices must be paid in full before any items may be removed. NO EXCEPTIONS.

SALES TAX: All sales are subject to state and local taxes, which will be collected from the successful bidder unless a proper certification including tax-exempt number is presented at the time of payment.

INSURANCE: All successful bidders, their riggers or third parties must provide HMI and the owner of the premises of the sale item(s) a certificate of insurance in the amount acceptable by HMI and the owner/seller and other interested parties involved before removal of merchandise.

REMOVAL: All items awarded become the sole responsibility of the successful bidder at the close of the timed online sale. HMI or the Owner/Seller is not responsible for any issues related to the safe handling and transport of merchandise purchased from the timed online sale. Buyer assumes all risk of loss and damage to property until removed from the sales premises. Removal shall be at the sole risk and liability of the buyer, including the cost and proof of insurance. All purchased item(s) shall be removed in their entirety from the site(s). The buyer must repair or replace any damage that occurs during the removal. Buyer is responsible to meet operating and shipping in compliance with state/federal laws and all applicable governing safety standards. Third party removal or shipping parties must be approved by both the seller and buyer. Buyer is responsible for third party’s risk and liability. All item(s) must be removed by the determined timeline set forth in the time online sale. Removal shall be completed by the predetermined timeline or the purchased item(s) will be considered abandoned and bidder will be considered in default and ownership will revert back to the Seller.
Goods weighing more than 100 pounds must be removed by a qualified, insured rigger. Small Lot Removal. HMI shall have no responsibility whatsoever for any missing or lost items that can be removed by hand. Such items should be removed within forty-eight (48) hours of the conclusion of the sale. There will be NO removal of any lots until the auction is complete and all items are paid are paid for in full.

DEFAULT: Bidders must bid only on those items they are prepared to pay for and remove in accordance with the terms and conditions of this timed online sale. All items awarded to high bidders are contractually theirs and must be paid for by the Specified Payment Date and removed by the Specified Removal Date.
IN THE EVENT BUYER FAILS TO PERFORM CONTRACTUAL OBLIGATIONS (PAYMENT AND REMOVAL) AS SPECIFIED IN THIS INVITATION TO BID, THE FOLLOWING ACTION APPLIES: PURCHASER WILL AUTOMATICALLY BE PLACED IN DEFAULT. THIS IS YOUR OFFICIAL
NOTICE OF DEFAULT. Upon default, the purchaser shall lose all right, title, and interest which he/she might otherwise have acquired in and to such property as to which default has occurred. HMI will re-market and re-sell this property.

PAYMENT DEFAULT: Failure to pay invoices in full by the Final Payment Date in accordance with payment terms will subject Bidder to pay as Liquidated Damages a sum equal to the lesser of (1) 20 percent of the invoice price of the item(s) as to which the default has occurred, or (2) the full amount of the difference between the original invoice price and the re-sold price plus any expenses incurred to re-market or re-sell these items. IF HMI HAS NOT RECEIVED PAYMENT FOR WINNING BIDS WITHIN 24 HOURS OF THE FINAL PAYMENT DATE, THE BIDDER AUTHORIZES HMI TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.

REMOVAL DEFAULT: Failure to remove items by the Final Removal Date in accordance with removal terms will subject Bidder to pay as Liquidated Damages the full amount of the expenses incurred to store or transport items until they are re-sold OR the item(s) will be deemed abandoned and will be removed and scrapped at bidders expense.

BIDDER AUTHORIZES HMI TO CHARGE LIQUIDATED DAMAGES AND OR RELATED EXPENSES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.

INDEMNIFICATION: Purchaser shall defend and indemnify and hold HMI and seller harmless from and against any and all claims and liabilities relating to the condition of, removal of, or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state, and local laws applicable to such articles, including OSHA requirements, and Environmental Protection Agency, and any applicable export laws, requirements, or for proximate or consequential damages or costs or legal expenses arising there from.

CLAIMS: NO CLAIMS WILL BE ALLOWED AFTER REMOVAL OF GOODS FROM PREMISES OR LEFT ON PREMISES PAST ALLOWED TIME LIMIT.

NON-DELIVERY: Neither owner/seller or HMI shall be liable for non-delivery to any purchaser of any lot, other than for the return to the purchaser the sum paid on said Item(s)/lot(s) should the purchaser be entitled thereto.

COMPLIANCE WITH TERMS: By obtaining a bidding number, each bidder represents and irrefutably warrants they shall not misrepresent their ability to close the transaction pursuant to the terms and conditions of sale. Any bid they make on an item constitutes an irrevocable offer to buy the item for the full amount of the bid. If bidder fails to make payment of bills in full, by the specified time, the bidder will be considered in default.

NOTICE OF DANGEROUS ENVOIRNMENT: Bidder acknowledges that an online timed sale site is a potentially dangerous place. Flammable, noxious, corrosive and pressurized substances may be present, heavy equipment may be in operation, and electric circuits may be live. Every person at the timed online sale site before, during and after the timed online sale, shall be deemed to be there at his/her own risk this is the bidders notice of the condition of the premises, the activities on the premises, and conduct of third parties; and the bidder shall so advise his/her agents and employees. No person shall have any claim against HMI, its consignors, agents, employees, directors or principals for any injuries sustained or for damages to or loss of personal property, or personal injury, which may occur from any cause whatsoever.

ITEM DESCRIPTIONS AND MISPRINTS: HMI relies on information about assets, item(s), lot(s) in the timed online sale provided by the owner/seller and undertakes no investigation of that information. HMI shall not be responsible for correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty therewith. HMI assumes no responsibility for, and makes no representations or warranties concerning, descriptions of items listed in the timed online sale or contained in marketing materials for the timed online sale. Registered bidders are advised to make inspection of items they are intending to bid on and it is their responsibility and obligation to verify such descriptions prior to the timed online sale.
All statements contained in any bill of sale , invoices or elsewhere as to describe the size, quantity, quality, capacity model, serial number, measurements or condition are approximated statements and shall not be deemed to be representations or warranties, oral or written, with respect to any item or lot. No sale is made invalid or made void by reason of any flaw in an item(s) or in a lot by reason of being incorrectly described, and HMI will not be liable and no compensation will be paid for any such fault or error of description. THE TERMS AND CONDITIONS APPLY TO ALL EQUIPMENT LISTED, SOLD EITHER PRIOR, DURING OR AFTER THE SALE HAS END.

WARRANTY: All property is sold “AS IS WHERE IS and WITH ALL FAULTS”. Successful bidder waives any and all claims against HMI, any owner, seller and all secured parties. HMI nor any owner, seller, or secured parties make no ORAL OR WRITTEN WARRANTIES INCLUDING IMPLIED WARRANTIES OF MERCHANTIBILTY OR FITNESS FOR PARTICULAR PURPOSE WHATSOEVER. All such express or implied warranties are expressly excluded and disclaimed herein. No oral statement or other writing by any person negates this exclusion.

BID: By placing a bid on an item sold at our timed online sale, the bidder agrees to pay the bid amount, plus all fees applicable. The bidder shall not and cannot cancel a bid placed after the bidder has confirmed the bid. As a bidder, placing a bid is a binding contract between HMI, any owner, seller and all secured parties and the bid cannot be retracted. HMI reserves the right to reject any and all bids, at their sole discretion.

ADJUSTMENTS: HMI reserves the right to add or remove any equipment or item(s), at their sole discretion, before the start of the online auction. HMI reserves the right, for any reason, in its sole discretion, to terminate, change or suspend any aspect of the online auction sale.

DISPUTES: Purchaser agrees that the purchase from HMI occurs in Michigan. Any disputes between HMI and Purchaser shall be governed by the laws of the State of Michigan without regard to the provisions thereof which concern conflicts of laws. Purchaser agrees that any controversy arising between the Purchaser and HMI shall be litigated exclusively in Michigan. The state and federal courts and authorities with jurisdiction in Michigan shall have exclusive jurisdiction over all controversies which shall arise between HMI and Purchaser. Purchaser irrevocably consents to service, jurisdiction, and venue of such courts for any such litigation and waives any other venue to which it might be entitled by virtue of domicile, residence or otherwise.

WAIVER OF JURY TRIAL: Purchaser hereby knowingly, voluntarily, and irrevocably waives any and all right to a trial by jury in any legal proceeding arising out of or relating to these terms.

DISPUTE BETWEEN BIDDERS: The final high bidder shall be designated by the ending of each timed item or timed lot. If a dispute arises between two or more bidders, HMI reserves the right to reopen bidding, by any method HMI deems appropriate which may include direct collection of bids from bidders by phone or in writing to HMI. HMI designation of the successful bidder is final.
HMI reserves the right to amend any and all of the Terms and Agreements stated herein at any time without notification at HMI sole discretion. It is the Buyers responsibility to read and review the Terms and Conditions for each timed online sale. HMI provides the Terms and Conditions through ANY OF THE CHOSEN VENUES IT DECIDES TO USE TO CONDUCT TIMED ONLINE SALES.

FORCE MAJEURE: HMI shall not be liable for its failure to perform hereunder due to any contingency beyond its reasonable control, including acts of God, fires, floods, wars, sabotage, accidents, labor disputes or shortages, governmental laws, ordinances, rules and regulations, whether valid or invalid (including, but not limited to priorities, requisitions, allocations, and price adjustment restrictions). Inability to obtain material, equipment or transportation, and any other different contingency.

SEVERABILITY: If anyone or more provisions of this agreement shall be held invalid or unenforceable, then the legal enforceability of all the provisions of this agreement shall not be affected by it.

BIDDER/BUYER ACKNOWLEGES THROUGH THE EXECUTION, ACCEPTANCE OF THIS AGREEMENT THAT HMI AND THE SELLER’S/OWNER’S OFFER IS EXPRESSLY LIMITED TO BIDDER’S/BUYER’S ACCEPTANCE OF THE TERMS OF THESE TERMS, ONLY, AND THAT ANY ADDITIONAL TERMS SHALL NOT BECOME PART OF THIS AGREEMENT. BIDDER/ BUYER ACKNOWLEDGES BY THE EXECUTION AND ACCEPTANCE OF THIS AGGREEMENT THAT NO ADDITIONAL TERMS ARE ACCEPTABLE TO HMI OR THE SELLER’S/OWNER’S AND NOTIFICATION OF HMI AND THE SELLER