Assorted Retention Studs

Terms & Conditions

Surplus to Ongoing Operations of Tier 1 Precision Oilfield Products Manufacturer

Auction Dates:  Tuesday, December 3, 2024

Auction Time: Lots begin closing at 10:00 am Central Time

Inspection Date:  BY APPOINTMENT ONLY

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

Please call 713-462-5800 for an appointment.

Asset Location(s):

**All Lots are Located at 1065 Nursery Rd., Suite# 1115, Winter Springs, Florida 32708. 

Removal Deadline:  ALL Items: December 4, 2024 by 3:00 pm Central Time. (No Exceptions). For ALL Removals, hand carried or otherwise, you MUST schedule the loadout of your purchase by scheduling with Harris Auctions at 713-462-5800. 

Harris Auctions (AUCTIONEER) Terms & Conditions for Surplus to Ongoing Operations of Tier 1 Oilfield Products Manufacturer

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 (telephone 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.

FLORIDA SALES TAX: In accordance with Chapter 212 of the Florida Statutes and various Rules of the Florida Administrative Code, Florida Sales Tax of 7.00% will be charged to all purchases at this auction and reflected on the Buyer’s invoice. 7.00% Sales Tax must be paid on the entire purchase price, unless the BUYER can provide a valid and appropriate form of exemption or other documentation as follows:

• Resale
• All Florida dealers must provide a copy of a valid 2024 Florida Resale Certificate.
• All dealers who are not engaged in business in Florida and are not required to be registered as a dealer in Florida, but will remove and resell the items outside the state of Florida, must provide a valid Affidavit of Resale by a Nonresident Dealer.
• Manufacturing:  Businesses who manufacture goods within the state of Florida and qualify for the exemption must provide a valid Affidavit for the purchase of industrial machinery and equipment, or a valid Temporary Tax Exemption Permit for the purchase of qualifying machinery and equipment for a new or expanded manufacturing business.
• If the BUYER claims an exemption based on goods being shipped out of state for use outside of Florida the items must be irrevocably committed to exportation outside of Florida.  Per Rule 12A-1.0015 of the Florida Administrative Code, any direct possession or use within Florida will result in a taxable sale/purchase and the Florida sales tax will be due.  Only in the event of goods being delivered to a carrier, licensed customs broker, or forwarding agent will an exemption be allowed.  In such instances BUYER assumes all risks and costs associated therewith and must provide a bill of lading from the shipping company that evidences the property and address to which the item is to be delivered. 

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 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.   

Removal: The deadline for removal of ALL lots in this auction is:  December 4, 2024 by 3:00 pm Central Time. (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 MUST BE REMOVED NO LATER THAN DECEMBER 4, 2024 BY 3:00 PM CENTRAL TIME.     

 For ALL Lots located in Winter Springs, Florida - a packing/loading fee will be added to the Buyer's invoice. The fee will be waived for those Buyer's that pick up their Lots in person in Winter Springs, Florida.   

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 HERE AND 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).  In all cases, the cost of packing, loading, rigging is the responsibility of the BUYER.

Auction On-Site Contacts:

TBA 

Auction Contact to Schedule Removals or for Removal Questions:

TBA

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”. “Ex Works.”  There is no warranty, expressed or implied, 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.

HARRIS MACHINE TOOLS, INC. DBA HARRIS AUCTIONS

TERMS AND CONDITIONS

APPENDIX I.

EXPORT ADDENDUM

ALL ITEMS ARE SOLD AS IS, WHERE IS, WITH ALL FAULTS.

TERMS OF SALE ARE EX WORKS, INCOTERMS (2020).

HARRIS MACHINE TOOLS, INC. DBA HARRIS AUCTIONS IS NOT THE U.S. PRINCIPAL PARTY IN INTEREST. IT WILL NOT ACT AS SHIPPER OR EXPORTER ON ANY EXPORT DOCUMENTATION, NOR WILL ANY BUYER OF ANY LIST HARRIS MACHINE TOOLS, INC. DBA HARRIS AUCTIONS ON ANY EXPORT DOCUMENTATION.

DESTINATION CONTROL STATEMENT: Items sold at auction to an international buyer are subject to the U.S. Government's export laws. An exporting Buyer is obligated to include a destination control statement on its export invoice in compliance with 15 CFR section 758.6.