Craftsman Model 875.199820 1/2” Impact Wrench

Terms and Conditions
Hardwick Ware Management Inc D/B/A Internet Auction Management or Iam.
bid
General Sale Terms & Conditions
TERMS OF SALE
Set forth below are the terms and conditions (the “Terms”) that shall apply to any purchase by any party (a “Buyer”)
either directly from Hardwick Ware Management Inc D/B/A Internet Auction Management or Iam.
bid (”Iam.
bid”) or
in a transaction (a “Transaction”) in which Iam.
bid serves as broker, agent, liquidator or auctioneer for any third party
owner (“Consignor”). The Terms apply to all Transactions, including without limitation, public auctions conducted by
Iam.
bid and direct purchases by Buyer of any item either before, after or independent of any public auction. By using
or accessing any and all Iam.
bid Services and or Websites you agree you have read and understand the Terms and
Conditions stated herein and are bound to these Terms and Conditions. You may not use or access any and all
Iam.
bid Services if you do not agree to the Terms and Conditions stated herein. If you do not understand any or all
the Terms and Conditions herein please contact Iam.
bid via email at service@Iam.
bid for further assistance.
*Please Note: The “sale specific” terms and conditions for each auction supersede our General Terms of Sale and
may be announced online and/or onsite prior to the sale.
TERMS AND CONDITIONS
1. No Warranty. All machinery, equipment, merchandise and other items (the “Wares”) are sold on an “AS IS/WHERE
IS” basis without licenses or other rights to software required for equipment to work, without any warranties or
representations, either expressed or implied. Neither Iam.
bid nor the Consignor makes any warranties or
representations of any kind or nature with respect to the property or its value and in no event shall either be
responsible for correctness of description, genuineness, attribution, provenance, authenticity, authorship,
completeness, condition of the property or estimate of its value. No statement (oral or written) in the catalog, at the
auction, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility.
Prospective bidders are urged to contact Iam.
bid directly for detailed information regarding any item for sales.
2. Registration. Buyers must register prior to bidding at any auction sale and must be of legal capacity to enter into
this agreement. All bidders must provide their name, company (if applicable), mailing address, phone number and
email address prior to the auction. By registering, you represent and warrant any and all Buyer Information is
accurate and complete. It is solely the Buyers’ responsibility to maintain current Buyer Information for completeness
and accuracy. Iam.
bid reserves the right to deny and or terminate Registrations at any time at its sole discretion
without notification. Iam.
bid reserves the right to deny usage and access of Iam.
bid Services and Websites at any
time without notice or liability to any persons or third parties. When applicable, Electronic Bidders are required to
provide a valid deposit or proof of funds prior to bidding. At its discretion, Iam.
bid may charge a registration fee for
Electronic bidding. This fee will be clearly displayed during the registration process.
3. Deposits. Iam.
bid requires a deposit of not less than twenty five percent (25%) of the Buyer’s total purchase price
by the end of sale day – with the balance due by the end of the next business day. This can be in the form of cash, a
cashier’s check, or business check with a bank letter of guarantee. For Electronic Bidders, at its discretion, Iam.
bid
may contact bidders via email or telephone before or during the sale to obtain a bank letter of guarantee or wire
transfer as a deposit. If Iam.
bid does not receive a response from its attempts to contact Buyer or if the Buyer does
not provide a deposit, Iam.
bid reserves the right to refuse or cancel Buyer’s bids.
4. Invoices & Payment Instructions. For Onsite and Webcast auctions, winning bidders can request a printed paper
invoice from the Accounting Manager at the sale location during or after the sale. Electronic Bidders will be sent an
electronic invoice to the email address provided during registration. Detailed payment instructions for each sale are
available in the printed lot catalog at the sale location on the day of the sale. Electronic Bidders will be sent detailed
payment instructions via email along with their invoice.
5. Payments. Iam.
bid must receive the balance of the total purchase price no later than the close of business on the
day following the auction (the “Final Payment Date”). All payments must be in cash, cashier’s or certified check,
federal wire transfer of immediately available funds or a corporate check accompanied with a bank letter of
guarantee, and all of the foregoing must be in form, scope and substance acceptable to Iam.
bid. Credit cards are
accepted for Electronic bidding registration and for Liquidated Damages in the event of a default. Without limiting
Iam.
bid’s discretion, no corporate checks without a bank guarantee and no personal checks will be accepted. No title
shall pass to Buyer until the total purchase price and all Taxes have been paid to Iam.
bid in collected funds.
6. Taxes. Buyer must also pay to Iam.
bid on or before the Final Payment Date, all sales, export, use and other taxes
due to any federal, state or local taxing authority (the “Taxes”) as a result of Buyer’s purchase, including without
limitation, any taxes arising from any Buyer’s Premium. To receive the benefit of any tax exemption, Buyer must
supply Iam.
bid with a sales tax exemption certificate acceptable in form, scope and substance to Iam.
bid in
Iam.
bid’s sole discretion.
7. Buyer’s Premium. Auctioneer may charge a Buyer’s Premium on all purchases. Acceptable forms of payment are
wire transfer, cashier’s or certified check and company check with a bank letter of guarantee. Buyer’s Premium may
be applicable and will be announced at the time of that specific sale.
8. Removal of Wares. (1) Buyers or their Agents must remove all Wares purchased before the final removal date and
time announced by Iam.
bid at the auction (the “Removal Date”). (2) No Wares shall be removed until the full
purchase price and all applicable taxes thereon have been received by Iam.
bid in the form required herein. ANY
ITEMS NOT REMOVED ON OR BEFORE THE REMOVAL DATE SHALL BE DEEMED ABANDONED AND
IAM.
BID SHALL HAVE NO FURTHER OBLIGATION TO BUYER WITH RESPECT TO SUCH ITEMS.
Buyer shall be responsible for the safe and proper removal of any Wares purchased by Buyer. Iam.
bid does not
pack, ship, store, crate or rig items for removal. Buyers may either pick up Wares at the designated auction site
themselves or can contract with a third party agent to manage the removal process for them. Before Wares can be
removed by an Agent, Agent must provide Iam.
bid with (1) proof of payment in full (Paid in Full Invoice) and
(2) An “Agent Release Authorization” form which allows Iam.
bid to release items to a third party contractor for
shipping, crating or packing purposes.
Wares weighing more than 100 pounds must be removed by a qualified, insured rigger. Before any removal, Buyer
must provide Iam.
bid with a certificate of insurance from the rigger, which certificate must be in form, scope and
content acceptable to Iam.
bid in Iam.
bid’s sole discretion. Without limiting Iam.
bid’s discretion, such certificate must
show that the rigger carries comprehensive liability insurance written by an insurance carrier of national standing and
in an amount of not less than two million dollars ($2,000,000.00). Without limiting the generality of the foregoing,
Buyer shall restore and repair all real and personal property that is altered or damaged as a result of Buyer’s removal
of the Wares. Iam.
bid shall have no responsibility to disconnect utilities to the sold asset, including electric, gas,
waste and water lines to local code. Buyer is solely responsible to properly remove and store in appropriate
containers all fluids, oils, hazardous chemicals, etc., from machinery purchased. Buyer does hereby indemnify
Iam.
bid, the Consignor and the owner of the premises in which the Wares are located, from any and all claims,
damages, and losses arising from Buyer’s actions or actions with respect to the Wares and Buyer’s presence on the
premises in which the Wares are located, including without limitation, injuries to persons or property and
environmental violations or contamination. Risk of loss on any Wares shall pass to the Buyer upon payment in full to
Iam.
bid of all sums due from Buyer in respect to the Wares.
Iam.
bid shall have no responsibility whatsoever for any missing or lost items that can be removed by hand if such
items have not been removed within fortyeight
(48) hours of the conclusion of the sale. There will be NO removal of
any lots until the auction is complete.
9 Defaults. Bidders must bid only on those items they are prepared to pay for and remove in accordance with the
terms and conditions of this sale. All items awarded to high bidders are contractually theirs and must be paid for by
the Final Payment Date and removed by the Final Removal Date. 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.
Iam.
bid will remarket
and resell
this property. Note: These Terms and Conditions serve as your official notice of
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 resold
price
plus any expenses incurred to remarket
or resell
these items. IF Iam.
bid HAS NOT RECEIVED PAYMENT FOR
WINNING BIDS WITHIN 24 HOURS OF THE FINAL PAYMENT DATE, THE BIDDER AUTHORIZES Iam.
bid TO
CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE OR RETAIN DEPOSIT LEFT DURING
THE REGISTRATION PROCESS.
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 resold.
IF
BUYER HAS NOT REMOVED ITEMS WITHIN 24 HOURS OF THE FINAL REMOVAL DATE, THE BIDDER
AUTHORIZES Iam.
bid TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING
THE REGISTRATION PROCESS.
10. Adjustments. After Buyer has removed any item from Iam.
bid’s possession, Iam.
bid shall have no obligation to
make any adjustment or accommodation to Buyer because of any mistake in quantity or other defect or problem with
respect to such item. Buyer must make all requests for adjustments in writing to Iam.
bid before any item is removed
from the premises where the auction is conducted. Any adjustment is at Iam.
bid’s sole discretion and will be taken in
account on a case by case basis.
11. Damages. Iam.
bid shall not be responsible for any damages, loss or theft of Wares except in the case of
Iam.
bid’s willful misconduct. Without limiting the foregoing, Iam.
bid shall not be responsible for damages or losses
caused by strikes, civil disorders, terrorism, or acts of God.
12. Changes. Iam.
bid reserves the right to withdraw or sell any assets contained in an auction prior to or proceeding
the stated auction period without notification. Iam.
bid reserves the right to temporarily or permanently end an auction
prior to or during the stated auction period at its sole discretion without notification. Iam.
bid, in its sole discretion,
reserves the right to extend the stated auction period without notification. If for any reason Iam.
bid is unable to
deliver any Wares purchased by Buyer, Iam.
bid’s sole liability shall be to return all sums paid by Buyer to Iam.
bid in
respect of such Wares.
13. Iam.
bid, in its sole discretion, reserves the right to establish a reserve or minimum price on any Wares without
having to announce, post or publish notice to attendees and buyers at any auction. Iam.
bid reserves the right to
confirm or reject the final bid. Further, Iam.
bid, and/or its affiliates or subsidiaries, may bid at the auction for its own
account, on behalf of a third party or the seller.
13a. Iam.
bid, when utilizing the Auctiontime.com auction platform, shall disclose reserves and will not bid to protect
sellers interest in accordance to Auctiontime.com’s platform contract.
14. Absentee/Proxy Bids. By completing an “Absentee (Proxy) Bidder Form,” Bidders may appoint Iam.
bid to be an
agent and proxy for the sole purpose of purchasing the items listed when the Bidder CANNOT bid on the day of the
sale. ALL BIDS ARE FINAL AND BINDING and DO NOT include any applicable buyer’s premiums and sales taxes.
Iam.
bid will bid up to the specified maximum bid amount to win the item, using only the amount needed to win the
item. Iam.
bid has complete discretion whether and when to accept Proxy bids. The auctioneer’s announcements at
the time the lot is sold take precedence on any and all published materials. Proxy bidders will be notified only if they
have been declared the high bid. Notification will take place in the form of an electronic invoice which will be sent to
the email address provided during registration.
15. Right to Refuse Bids or Deny Access. Iam.
bid, in its sole discretion, reserves the right to refuse the bid of any
person without providing any notice or reason therefore. Iam.
bid reserves the right to deny the usage and access by
any person or third party of any and all Iam.
bid Services and Websites without notification.
16. Bid Increments. Iam.
bid, in its sole discretion, shall control all bidding increments and advances at any auction.
Iam.
bid reserves the right to reject any bid that is only a minimal increase over the preceding bid, that is not
commensurate with the value of the item being offered or that Iam.
bid believes was made illegally or in bad faith. In
the event of a dispute among bidders, Iam.
bid may, in its sole discretion, either accept what it deems to be the final
bid or solicit further bids on the item in dispute. No returns or refunds will be permitted, unless authorized by the a
principle of Iam.
bid.
17. Aggregate Bids. Iam.
bid reserves the right, in its sole discretion, to sell items advertised as a public auction sale,
on a piece by piece basis or as a complete lot. Without limiting the generality of the foregoing, Iam.
bid may accept a
complete lot bid and then conduct an item by item auction which auction shall be effective only if the total proceeds
there from exceed the amount of the complete bid.
18. Information Subject to Error. All information provided by Iam.
bid to Buyers, including without limitation, any
advertising, lot sales catalogs or otherwise, is subject to deletions, errors, additions, and changes without notice.
Although information is gathered from sources thought to be reliable, Iam.
bid shall have no responsibility whatsoever
for any information provided to any attendee or buyers. All buyers shall rely solely on their own investigation and
inspection of any Wares conducted by themselves, affiliates, or contracted third parties..
19. Right to Amend Terms and Conditions. Iam.
bid reserves the right to amend any and all of the Terms and
Conditions stated herein at any time without notification at Iam.
bid’s sole discretion. It is the Buyers responsibility to
read and review the Terms and Conditions for each sale. Iam.
bid provides the Terms and Conditions through its
Websites and in printed form at onsite
auctions. Iam.
bid Reserves the right to amend these terms and conditions by
verbal announcement prior to the start of sale or prior to the auctioning of an individual item..
20. Agency Relationship. When Iam.
bid is selling or auctioning any Wares on behalf of a Consignor, Iam.
bid shall
act as an agent only and shall have no liability whatsoever for the acts of any owner or principal.
.
21. Export Law Compliance. Buyers agree to comply with all United States export control and related laws, as well as
acknowledge that Iam.
bid is not the exporter of any purchased item. Certain items offered for sale at an Auction or
Sealed Bid Sale may constitute “Restricted Technology.” Under Federal Law, such items may not be shipped outside
the United States. Buyer also agrees not to export any item to countries which are subject to comprehensive
embargoes or support terrorism. These countries include, but are not limited to: Cuba, Iran, North Korea, Sudan, and
Syria. The list will change from time to time. Iam.
bid makes no representation or warranty concerning Restricted
Technology or conducted an investigation to ascertain, which items, if any, constitute Restricted Technology.
22. Auction Sites. Buyers acknowledge that an auction site is a potentially dangerous place, Flammable, noxious,
corrosive and pressurized substances may be present. Heavy equipment may be operated and electrical circuits may
be live. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the
activities that will be or have been conducted on the premises. No person shall have any claim against Iam.
bid, the
seller or their respective agents for any injuries sustained or for damages to or loss of property that may occur at the
auction site.
23. Iam.
bid Rights and Remedies. If the Buyer fails to comply with any of the Terms, Iam.
bid shall have all rights
and remedies available to it at law and in equity. Without limiting the generality of the foregoing, Iam.
bid may retain
all deposits and partial payments received from Buyer and may resell any Wares that Buyer fails to purchase. Buyer
shall be responsible for all costs, losses, and damages suffered by Iam.
bid (i) as a result of Buyer’s breach of any of
the Terms, including without limitation, lost profits and consequential damages and (ii) incurred in connection with the
enforcement of Iam.
bids’ rights, including, without limitation, legal fees and costs and expenses related to the resale
of Wares, including storage and rigging fees.
24. No Collusion. Buyers agree they will not participate in any bidding practices with the intent of manipulating the
bidding. Any and all forms of collusion between Buyers is forbidden and illegal; any buyer caught colluding to
manipulate the outcome of any sale of any item shall be banned with or without notice. Buyers agree they will not
place bids using false names or Buyer Information.
25. Buyers’ Indemnification. Buyers agree they will defend, indemnify and hold harmless Iam.
bid, including its
affiliates, directors, officers, employees, agents, shareholders, cobranders,
or partners, from and against any and all
claim, loss, damage, liabilities, judgments, fees and expenses incurred by Iam.
bid, including its affiliates, directors,
officers, employees, agents, shareholders, cobranders,
or partners, through the use of Iam.
bid Services and
Websites.
26. Website Usage. The following is specific to the access and usage of Iam.
bid Websites including and not limited
to any and all features and applications:
A) Each Registrant will specify a unique User Name and Password and it is solely the responsibility of the Registrant
to maintain the confidentiality of this User Name and Password.
B) Registrants are solely responsible for any and all transactions or transmissions using their User Name and
Password.
C) Iam.
bid is not responsible for any and all unauthorized or compromised usage of the Registrant’s User Name and
Password. Registrants are responsible for contacting Iam.
bid in writing for any and all unauthorized usage of their
User Name and Password.
D) Registrants agree they will not:
i) Disrupt, interfere or create outages to computer networks that directly or indirectly affect Iam.
bid Websites.
ii) Falsely misrepresent or impersonate any other person or entity. Registrants are forbidden from misrepresenting a
Registrant’s employment by or affiliation with any third party.
iii) Registrants are forbidden from posting, uploading, transmitting, publishing or distributing any and all information
that contains viruses, code, files or programs with the malicious intent of affecting Iam.
bid Websites.
iv) Registrants agree they will not copy, modify, reproduce, distribute or sell any information or material provided
through Iam.
bid or affiliated websites.
E) Iam.
bid is not responsible for any and all products, content, information or material provided by links to or
statements regarding third party services. This includes but not limited to riggers, shippers, partners and any third
party services listed.
F) Registrants agree Iam.
bid and its affiliates, including partners, officers, directors, employees, agents,
shareholders or cobranders,
are not responsible for any and all damages, actual or alleged, resulting from the
downloading of any information or materials from Iam.
bid or affiliated websites.