Powermatic 87 Vertical Bandsaw, s/n 44107

TERMS and CONDITIONS of Auction:
Registration & Bidding:
Only one (1) Bidder per paddle number is allowed. The party whose information is provided at the time
of registration is responsible for all purchases of made under that Bidder paddle number. Machinery
Network Auctions, Inc. (MNA) reserves the right to refuse issuing a paddle number for any reason it
believes necessary to protect the integrity of the bid.
• Credit Card Authorization: All Bidders are required to provide a valid MasterCard, Visa or American
Express and the appropriate Credit Card Authorization form (as instructed by MNA Staff) in order to bid.
A $200 deposit authorization will be processed on the card provided (there will be no charge at this time,
this is a “no transaction” authorization only). By registering, the Bidder hereby expressly authorizes MNA
to charge this Card if the Bidder fails to pay their invoice in accordance with these Terms and Conditions
of Auction (the Terms) within forty-eight (48) hours of the issuance of that invoice. MNA expressly
reserves the right to waive the deposit authorization requirement any time it deems fit and at their sole
discretion.
• Deposit(s): Any prospective Bidder residing outside the continental United States shall be required to
submit a refundable (subject to these terms) deposit of $2,000 or 10% of a bidder’s projected spend for
that auction, whichever is higher (and determined solely at MNA staff’s discretion). The deposit shall be
paid by credit card and the requisite “Credit Card Authorization – Foreign Bid Deposit” form filled out and
turned in to MNA staff prior to any such Bidder being approved to bid. If the Bidder does not win the bid
on any lot, the deposit shall be credited back to the same credit card, and that credit card only, within 72
hours of the close of bidding. If the bidder wins the bid but fails to pay their invoice within 48 hours of its
being issued, the bidder hereby expressly authorizes MNA, at their sole discretion, to either, 1) charge the
credit card the full invoice amount, or 2) retain all or part of the deposit as liquidated damages without
notice.
• Bidder Information: By placing any bid, each Bidder expressly represents that they have provided MNA
staff with accurate and complete contact, financial, Credit Card, and any other requested information
during the registration process. Each Bidder hereby further expressly warrants and acknowledges that,
whether the Bidder is acting as a principal, an agent, or an officer, director, or other representative of an
entity, or in any other capacity whatsoever, by placing a bid, they have entered into a legally binding
contract with MNA whereby they will be held personally liable for, and shall be bound to remit payment
of, the purchase price, buyer’s premium, taxes, and any other amounts payable on the invoice issued to
their paddle number to MNA upon demand and/or per these Terms.
• Back-up Bidder Invoicing/Sale: Due to the continued prevalence and commercial disruption caused by
COVID-19, which has led to an uptick in the amount of unclaimed won lots at auctions throughout the
country, MNA hereby expressly reserves the right to invoice back-up bidders for any or all of the lots bid
on, in their sole discretion, and by placing their bids, Bidders assent to being bound by all the other Terms
found herein with regards payment and collection of their won lots without any further notice or warning
whatsoever.
• Reserves: All or any one or group of lots may be offered with minimum reserve pricing and/or subject
to Seller’s right of confirmation. MNA expressly reserves the right to publish or not to publish the existence
of any reserve or Seller’s right to confirmation. Further, MNA expressly reserves the right to reject any bid
that is not commensurate with the value of the item being offered or that MNA, in their sole discretion,
believes was made illegally or in bad faith. MNA and/or any of its agents or assigns may bid on any lot
either for its own account or on behalf of a third party.
• ALL SALES ARE FINAL. No Bidder may retract their bid. No returns or refunds will be permitted. All sales
are final. No invoice shall be cancelled unless authorized by MNA and at their sole discretion. Should MNA
agree to cancel an otherwise valid invoice or any individual lot(s) on same, Bidder expressly herein agrees
to be held responsible for, and shall be required to immediately pay, a 10% restocking fee on the total of
the bid or hammer price of the lot(s) inclusive of the buyer’s premium.
Disclaimer & Acknowledgement:
MNA and seller expressly disclaim, without limitation, any warranty of merchantability or fitness for a
particular purpose. These terms are merely meant to be representative; by registering for and/or bidding
in this auction, you are expressly acknowledging and agreeing to these Terms as well as all of the Terms
and Conditions in both the Bid Card and Auction Catalogue.
• AS IS, WHERE IS: The Bidder acknowledges and warrants that they, or an authorized agent, have
inspected all of the assets to their satisfaction and had ample opportunity to inspect prior to placing a bid,
which shall be, further, governed by these Terms. MNA and Seller make no warranty or guarantee,
expressed or implied, as to the accuracy of the information (including pictures, descriptions or
specifications) provided in any published or otherwise publicly circulated account of the auction or the
assets for sale therein. If there is any question, whatsoever, as to whether the picture(s) of any particular
lot is accurate or inclusive (or exclusive) of everything being sold as a part of that lot, it is the sole
responsibility of the Bidder, prior to placing any bid on the lot, to verify to their complete satisfaction,
what they are bidding on. Everything is being sold on an "AS IS," "WHERE IS," and "AS AVAILABLE" basis
and ALL SALES ARE FINAL.
• No Reliance on Information: All PICTURES descriptions, advertising, lot catalogs, or any other source of
information (oral or written) concerning the Assets provided by MNA or their agents, affiliates or assigns,
or otherwise obtained by a Bidder from a source other than MNA are subject to additions deletions,
changes, and modifications at any time prior to purchase and sale. Each Bidder expressly acknowledges
and agrees that no sale of any Asset may be invalidated by a Bidder because of an error, inaccuracy, or
other fault in the Information. Each Bidder hereby expressly acknowledges and agrees that the
Information has been prepared for and to be used for informational purposes only and shall not and may
not be relied upon by any Bidder for any purpose, including (without limitation) accuracy or completeness.
By bidding on an Assets, a Bidder represents, warrants, covenants and agrees that each such Bidder is
relying upon each such Bidder’s own investigation, inspection, research, and analysis of the Asset(s) for
which a bid has been submitted and is not in any way relying upon the Information provided by MNA or
any other third party.
• Lot Order & Withdrawal: MNA reserves the right to withdraw items from the sale at any time, including
retroactively (post sale) for any reason(s) beyond their control, alter the order of the sale, accept bids
from the Seller or their agents or assigns and group lots as it may deem appropriate in their sole discretion
or at the direction of Seller or Seller’s agent(s). Remedies for an act in accordance with this Section are
limited to those found herein under “Disputes.”
• Security Interest: Each Bidder expressly grants to MNA a security interest in, and lien upon, the
purchased assets and proceeds thereof to secure payment of the purchase price for the purchased assets.
Each Bidder expressly acknowledges and agrees that, in the event of non-payment by a Bidder, MNA may
proceed to file the Bidder Registration Agreement, UCC-1 financing statements, and any other documents
to perfect the security interest and lien granted hereby and that MNA will pursue their interests in such
assets to the fullest extent of the law and equity.
• Disputes: In the event of any dispute over Bidding, MNA may, in its sole discretion, either accept what
it deems to be the final bid, solicit further bids on the item in dispute or withdraw (or retroactively
withdraw) the lot(s) or item(s) without penalty or recourse, except as allowed for herein. By placing a Bid,
Bidders expressly acknowledge and accept these terms, whereby the remedy for MNA having withdrawn
any Lot(s) falling under the purview of this Section, shall be expressly limited to a refund of any monies
already paid to MNA. MNA retains the rights and privileges of this Section so long as the Lot(s) remain on
the premises. Any controversy or claim relating to these Terms shall be settled by arbitration in
accordance with the Rules of the American Arbitration Association, and judgment upon the award (which
shall include attorneys’ fees to the prevailing party), rendered by the arbitrators may be entered in any
court having jurisdiction thereof. This Section notwithstanding, in the event either party hereto institutes
any suit or action to enforce its rights hereunder, the prevailing party shall be entitled to reimbursement
of its costs and expenses, including without limitation reasonable attorneys’ fees.
Payment:
All bidders are required to pay in full within 48 hours of invoice date – NO EXCEPTIONS
• Payment Terms: Unless specifically stated otherwise in the Sale Specific Terms, PAYMENT IS DUE AND
PAYABLE, IN FULL, UPON RECEIPT OF INVOICE. Invoices will be e-mailed, typically within 24 hours after
the Sale closes. All payments must be made by Bank Wire Transfer, Cashier's Check, or Company Check
with Bank Letter of Guarantee. Checks must be made payable to Machinery Network Auctions, Inc. In
some limited instances and at MNA’s sole and complete discretion, cash (onsite only) and credit cards up
to a certain limit, but in no case exceeding $2,000, U.S., will also be accepted. All payments by credit card
are subject to a service fee equal to an additional 3% of the amount charged to the card. It is highly
recommended that if you wish to utilize any method of payment other than bank Wire Transfer, you call
our office to explain your particular circumstance and obtain prior approval from appropriate MNA staff.
A list of acceptable forms of payment can always be found in the auction catalog, on the MNA website
and on your invoice. In any case, MNA expressly retains the right in their sole and complete discretion, to
change or limit the acceptable forms of payment based upon an individual bidder’s particular
circumstances.
• Buyer’s Premium: A “Buyer’s Premium” of 18% of the final hammer price shall be added to each invoice.
Occasionally, the exceptionally prompt payment of invoices by either, and sometimes both, onsite and
online Bidders will net a generous discount in the Buyer’s Premium charged. Please check Sale-Specific
Terms and Conditions posted on our Website and/or on the catalog the day of the sale for more
information and to see if any such discount applies to the auction you wish to participate in.
• Sales Tax: Applicable sales tax will likewise be added to the purchase price of all taxable items. All
resellers need to contact Abraham Torres at (818) 788-2260 to make arrangements to either fax or email
a copy of their Resale Certificate or other state issued certification of exempt status to our office at least
24 hours prior to the day of auction. Any reseller not doing so risks their exempt status for that auction
and, if sales tax is charged, will be required to seek a refund of those monies directly from the state taxing
authority in the state in which the auction is held. ONCE COLLECTED, MNA WILL NOT REFUND STATE SALES
TAX – NO EXCEPTIONS. Lots not paid for (and removed by published deadline and per the terms of
removal, below) may be resold at public or private sale without further notice and any deficiency, together
with all expenses of that resale and/or removal, will be charged to the defaulting purchaser.
Removal:
Purchased lots will not be released until payment has been received in full. Wire transfers must clear in
order for payment to be considered “received in full”
• Standard Removal Hours: Removal of purchased assets shall begin per the Sale-Specific Terms &
Conditions, which may be found in the auction catalog, on the MNA website at:
www.machinerynetworkauctions.com and on the invoice emailed winning bidders at the conclusion of
the auction event. Unless specifically stated otherwise in the Sale Specific Terms, absolutely no purchased
assets may be removed before (i) the conclusion of the Sale and (ii) payment is made in full. A marked
“Paid in Full” invoice and properly executed “Third Party Release” (whenever applicable) must be
presented to MNA or other designated facility personnel and any item(s) removed from the premises
must be verified against that invoice and signed out as received by both the buyer and operations staff.
Standard hours of removal shall be Monday through Friday, 8:00 am to 4:00 pm, local facility time, unless
otherwise posted at the facility, advertised on the MNA website or by special arrangement, in writing and
agreed to by MNA operations and/or facility staff.
• Rigging/Removal: IS THE RESPONSIBILITY OF THE BIDDER/BUYER and all riggers are required to be
licensed, insured and approved, in advance, by MNA. Every effort will be made to facilitate the timely and
professional removal of the assets. All removal activity must be in accordance with OHSA guidelines and
at the direction of on-site MNA and/or Seller staff. Removal may begin when the auction has been
completed and Payment in full has been made (each Invoiced lot and any other invoiced line item – sales
tax, Buyer’s Premium, etc. – must be paid). If two (2) people cannot safely lift, carry and load an item
without any mechanical assistance whatsoever, then a rigger must be used on its removal. Any lot not
removed from the premises by the published removal deadline shall be removed and may be resold at
public or private sale and/or scrapped by MNA, in their sole discretion, without further notice and the
costs of same shall be charged to the defaulting buyer.
• Preferred Riggers/Disclaimer: For most sales, MNA will provide a list of “preferred riggers” who have
offered services for that sale, have proof of commercial liability insurance on file with MNA and are
familiar with the particular offerings of the sale. Preferred rigger information is provided solely as a
courtesy to our buyers. MNA is not affiliated with and does not endorse or guarantee the services of any
machinery rigging, transport or export company, and cannot be held responsible for any damage or other
problems incurred as a result of the actions of said companies.
• Buyer Responsibility/REMOVAL DEADLINES: Each buyer expressly acknowledges and agrees that they
shall be responsible for all costs and expenses associated with removal of the purchased lots and shall be
liable to MNA, Seller, owner and/or landlord of the premises at which the purchased lots are located, and
all other third parties and are solely responsible for removing all purchased lots from site by removal
deadline. Buyers with items left on site after deadline are subject to fines of $500 per day or could be
subject to abandonment (and in accordance with other Terms found in this Section) with no further
recourse.
• Trade Compliance: Machinery Network Auctions, Inc. and Machinery Network, Inc., are required, by law,
to notify all bidders that we are in strict compliance with all U.S. Government export regulations with
regards to the machines we sell. All out-of-the-Country bidders are hereby put on notice that, prior to the
release of any machine won at auction, we are required to obtain a Commodity Classification from the
Bureau of Industry and Security (BIS), which regulates the exportation of same. **By registering to bid,
you are expressly agreeing to be bound by, and comply with, the following Destination Control Statement
(15 CFR § 758.6): Whereas the machines I have bid on and/or won may be 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. Compliance with these
regulations can take days or even weeks and is beyond the control of MNA staff. All bidders are urged to
carefully consider this before placing their bid(s) as all such delays shall be considered FORESEEN DELAYS.
As such, ALL “PAYMENT DUE BY” AND “REMOVAL DATES” SHALL CONTINUE TO APPLY.
• Governing Law and Venue: These Terms shall be governed by the laws of the State of California
regardless of its place of execution or performance.
• Miscellaneous: By registering and participating in this auction, Buyer is expressly agreeing to receive
emails regarding their participation in the auction and any and all future emails, including advertising
and/or marketing, which may, at times, be received from Auctioneer. These Terms constitute the entire
Agreement between Auctioneer and Buyer and supersedes any and all prior agreements, correspondence,
quotations or understandings heretofore in force between the parties. There are no agreements between
the parties with respect to the Equipment or sale of goods herein except those specifically set forth and
made part of this Agreement. Waivers by Auctioneer of a breach of any of the Terms herein shall not be
construed as a waiver of any other breach.