Sale Terms and Important Information

Terms & Conditions

Auction Of Surplus to the Ongoing Operations of Oil States Industries (NYSE: OIS)

Auction Date: Tuesday, September 17, 2024

Auction Time: 10:00 am Central Time

Inspection Date: Monday, September 16, 2024.

Inspection Times: 9:00 am to 3:00 pm Central Time.

For Inspection prior to Official Inspection day, call 713-462-5800 for an appointment.

Asset Location(s):

Oil States Industries Inc
6120 E Orem Dr,
Houston, TX 77048

1005 Mae Drive
Houston, Texas 77015

Harris On-Site Contact:

Linda Brandino // (713) 469-1811 // linda@harrismachinetools.com

Mike Zimmer    // (832) 963-0005 // mike@harrismachinetools.com  

AUCTION CONTACT TO SCHEDULE REMOVAL OR FOR REMOVAL QUESTIONS:

Linda Brandino // 713-469-1811 // linda@harrismachinetools.com

Please Note: The Auction Company does NOT Load or Ship ANY ITEMS.

Removal Deadline: ALL Items: October 16, 2024 by 3PM (No Exceptions). For ALL Removals, hand carried or otherwise, you MUST schedule the loadout of your purchase by scheduling with Linda Brandino - (713) 469-1811 or Mike Zimmer – (832) 963-0005. A Rigging Company will be onsite.

Harris Auctions (AUCTIONEER) Terms & Conditions for Auction Of Surplus to the Ongoing Operations of Oil States Industries (NYSE: OIS), SELLER is defined as the legal owner of the assets contained in the auction, note that the AUCTIONEER and the SELLER may at times be the same entity. AUCTIONEER may have a principal interest in this sale. SELLER reserves the right to bid at this auction. BUYER is defined as the winning Bidder of a particular lot or item at the auction.

Buyer’s Premium: A Buyer’s Premium of 18% will be charged to all purchases at this sale.

Registration: All bidders are required to give full name, address, company name, contact information (phone, fax, and email), and bank information when registering for this auction. A credit card (MasterCard / Visa / American Express) is required to be on file when registering for this auction. Note that the AUCTIONEER does not accept credit card payments for any purchases.

Payment: Upon notification of being the successful bidder, BUYER WILL HAVE 48 HOURS TO PAY IN FULL. AUCTIONEER accepts the following payment types:

Wire transfer

Company check

Cashier’s check

NO CREDIT CARD PAYMENTS.

ALL company checks MUST be accompanied by a bank letter of guarantee made out to Harris Auctions. For Company Checks, please HAVE YOUR BANK use this SAMPLE format:

THIS BANK HEREBY GUARANTEES PAYMENT OF CHECKS PAYABLE TO HARRIS AUCTIONS, FROM (NAME OF CUSTOMER) ON ACCOUNT #____ UP TO THE AMOUNT OF ____. THIS LETTER IS VALID FOR PURCHASES MADE AT THE AUCTION OF ____ ON ____(DATE).

Fax all letters to (713) 462-8222 or email to sales@harris-auctions.com

ALL INTERNATIONAL BUYERS MUST PAY BY WIRE TRANSFER. The full purchase price (including Buyer’s Premium, any applicable Loading and/or Rigging charges, taxes, or other applicable fees) on all items to the same buyer must be paid within the time fixed and before removal of any of the goods.

TAXES: SALES TAX: In accordance with Chapter 151 of the Texas Tax Code and various Rules of the Texas Administrative Code, Texas Sales Tax of 8.25% will be charged to all purchases at this auction and reflected on the Buyer’s invoice. 8.25% Sales Tax must be paid on the entire purchase price, unless the BUYER can provide a valid and appropriate State of Texas Sales Tax Exemption or Resale Certificate, a bill of lading from a common or contract carrier showing delivery to a location outside of Texas, or in the event of exported goods, per Rule 3.323 of the Texas Administrative Code a bill of lading showing the goods were exported outside of the United States.  Per subsection (c)(3) of Rule 3.323 of the Texas Administrative Code storing property within Texas prior to export is considered a taxable use and an exemption is not applicable – unless located at a freight forwarder, any property that remains in Texas longer than 30 days from the date of purchase is presumed to have been stored/used in Texas and the tax is applicable.

Addition to or Withdrawal from Sale: The AUCTIONEER reserves the right to withdraw from sale any of the items, to sell at this auction items not listed, to group one or more lots into one or more selling lots, or to subdivide into two or more selling lots. The AUCTIONEER also reserves the right to sell all of the items listed in bulk.

Absentee Bidding: Absentee bids may be presented to the AUCTIONEER in writing and must be accompanied by 25% of your bid in certified funds with full payment on any winning bids due ONE DAY after notification of your successful bid. Absentee bids are subject to all terms and conditions of the sale as listed herein or announced at the auction sale. All absentee bids are held in confidence.

Dispute Between Bidders: If there is any dispute between two or more bidders, the AUCTIONEER may decide the winning bid for the sale or may resell the item(s) by immediately putting them up for sale again. The decision of the AUCTIONEER shall be final and absolute.

Inspection of Machines: BUYERS are encouraged to make a personal inspection of any and all items they intend to bid on. Bidders may arrange to inspect the machines by calling 713-462-5800 for an Inspection Appointment. INSPECTION OF MACHINES FOR THIS AUCTION IS SET FOR: Monday, September 16, 2024, from 9:00 am to 3:00 pm Central Time. For Inspection prior to Official Inspection day, call 713-462-5800 for an appointment.

Removal: The deadline for removal of ALL items in this auction is: October 16, 2024 by 3PM (No Exceptions)

ALL REMOVALS, HAND CARRIED OR OTHERWISE, MUST BE SCHEDULED BY APPOINTMENT. Removal arrangements MUST BE MADE IN ADVANCE and FIRM APPOINTMENT TIMES FOR REMOVAL WILL BE ASSIGNED. Removal of any and all items is at the expense, risk and liability of the BUYER. Call 713-462-5800 for Removal Appointments.

No item(s) will be allowed to be removed from the site without PROOF OF PAYMENT FOR SAID ITEM(S). NO ITEMS ARE TO BE REMOVED UNTIL THE AUCTION IS COMPLETED. ALL ITEMS NEED TO BE REMOVED NO LATER THAN TBD CENTRAL TIME.

ANYONE USING A POWERED VEHICLE OR LIFT OF ANY KIND TO REMOVE ANYTHING FROM THE AUCTION SITE ARE REQUIRED TO HAVE INSURANCE COVERAGE OF GENERAL LIABILITY, AUTO LIABILITY, AND WORKERS COMPENSATION IN THE MINIMUM AMOUNT OF 1,000,000 USD EACH. THE GENERAL LIABILITY, AUTOMOBILE LIABILITY, AND UMBRELLA/EXCESS POLICIES MUST NAME HARRIS MACHINE TOOLS, INC, DBA HARRIS AUCTIONS AND EACH SELLER (NAMES PROVIDED ON REQUEST) AS ADDITIONAL INSURED AND MUST PROVIDE WAIVER OF SUBROGATION ENDORSEMENTS IN THE FAVOR OF THE CERTIFICATE HOLDERS. THE WORKERS COMPENSATION POLICY MUST PROVIDE WAIVER OF SUBROGATION ENDORSMENTS IN THE FAVOR OF THE CERTIFICATE HOLDERS. ALL CERTIFICATES OF INSURANCE MUST BE APPROVED PRIOR TO ENTRY TO THE PREMISES AND THE START OF ANY WORK.

Transportation: Freight, transportation, and pick-up will be the responsibility of the BUYER. ALL PURCHASED ITEMS MUST BE REMOVED BY THE BUYER NO LATER THAN THE DATE SPECIFIED IN THE ONLINE CATALOG. The BUYER is responsible for arranging all transportation and ensuring the transport vehicle(s) is/are capable of carrying the purchased item(s). A Rigger will be at the facility to load the items. ANY CHARGES FOR RIGGING AND/OR LOADING THAT APPLY TO ANY ITEM(S) WILL BE THE RESPONSIBILITY OF THE BUYER. All Bidders are encouraged to obtain estimated Rigging / Loading charges prior to bidding and before arranging transportation. FOR INFORMATION ON RIGGING / LOADING CHARGES, PLEASE CALL THE RIGGER. THE RIGGER INFORMATION WILL BE PUBLISHED HERE AND IN THE ONLINE CATALOG. In all cases, the cost of the loading / rigging is the responsibility of the BUYER.

PRE-APPROVED RIGGING COMPANIES:

G M Machinery Movers
Gmoreno@gm-machinerymovers.com
832-368-8731

Amber Trevino
atrevino@gm-machinerymovers.com
281-602-9519

JMOR Machinery Movers Inc.
Juan Moreno
juanmoreno@jmorinc.com
817-456-3124

OMEGA MORGAN
Aaron Brecheen
Aaron.Brecheen@omegamorgan.com
936-827-2405

Asset Location(s):

Oil States Industries Inc
6120 E Orem Dr,
Houston, TX 77048

1005 Mae Drive
Houston, Texas 77015

AUCTION CONTACT TO SCHEDULE REMOVALS OR FOR REMOVAL QUESTIONS:

Linda // (713) 469-1811 // linda@harrismachinetools.com

Please Note: The Auction Company does NOT Load or Ship ANY ITEMS.

Abandonment: If item(s) are not picked up within the published time period set forth in this document, or other arrangements are not agreed upon by both BUYER and SELLER, SELLER reserves the right to restock, resell or otherwise dispose of said item(s) at SELLER’S sole discretion, with no refund to BUYER of any monies received. Additionally, any items abandoned by the BUYER that are required to be removed by the auctioneer will be done so at the BUYER’S expense (NO EXCEPTIONS).

Installation: Installation of machines, equipment or any purchased item at any destination location, is NOT INCLUDED, nor provided.

Condition of Items: All items are USED unless otherwise noted in the catalog or conveyed by the AUCTIONEER. The descriptions and images included in the printed or online catalog, printed, online or published brochure, or any other marketing or promotional materials related to the auction, are true and correct to the best of AUCTIONEER’S knowledge at the time of publication. However, AUCTIONEER SHALL NOT BE RESPONSIBLE for any incorrect description, typographical error, omission, or other errors with regards to the printed or online catalog, printed, online or published brochure, or any other marketing or promotional materials. No sale shall be set aside nor allowance made on account of any incorrectness, error in cataloging, or any other error not hereby specified. Pictures are for representation purposes only, all pictures are intended only to show the item or lot to aid the BUYER in evaluating the item or lot. Advertising, promotional, and catalog photos may show tooling and accessories that are not necessarily offered with the machine or equipment. The catalog description of the machine or equipment is final. ALL PROSPECTIVE BIDDERS ARE ENCOURAGED TO INSPECT THE ITEMS AND LOTS PRIOR TO THE AUCTION.

Warranty: All items offered in this auction are offered “As Is”, “Where Is”, “With All Faults”. No warranty, expressed or implied is included with any item offered here. The SELLER expressly disclaims any warranty as to fitness or usability of all items, and the BUYER expressly waives any claim in respect to any possible future use of any item purchased for any purpose whatsoever.

Indemnification: BUYER agrees to indemnify and hold AUCTIONEER and SELLER harmless from and against all claims and liabilities relating to the condition or use of the items 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 items, including OSHA requirements, or for proximate or consequential damages, costs or legal expenses arising therefrom.

Compliance with Terms of Sale: By becoming the winning bidder, you are now the legal BUYER of that item or items. This is a legally binding contract to purchase said item(s) and you are obligated to complete the transaction by promptly paying for the item(s) in accordance with the instructions set out in this document. In default of payment of bills in full within the time herein specified, the SELLER, in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Items not paid for or removed within the time set forth in these Terms & Conditions, or separately agreed upon by BUYER and SELLER, may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of re-sale, will be charged to the defaulting BUYER.

Additional Terms and Conditions: The auctioneer may add other terms and conditions of sale, such additional terms and conditions to be announced prior to the auction. If you require assistance, please contact Harris Auctions at 713-462-5800, or sales@harris-auctions.com.

U.S. CUSTOMS DISCLAIMER: These items are controlled by the U.S. Government and authorized for export only to the country of ultimate destination for use by the ultimate consignee or end-user(s) herein identified. They may not be resold, transferred, or otherwise disposed of, to any other country or to any person other than the authorized ultimate consignee or end-user(s), either in their original form or after being incorporated into other items, without first obtaining approval from the U.S. government or as otherwise authorized by U.S. law and regulations.