Rigmaster 1600 Trailer Mounted 450 HP Drilling Rig

Terms and Conditions for Power Drive Supply Auctions These Terms and Conditions (“Terms”) govern your participation in all online auctions conducted by Power Drive Supply Auctions (“Auctioneer”) through Proxibid’s bidding platform and our website. By registering, bidding, or purchasing, you (“Bidder” or “Buyer”) agree to these Terms, Proxibid’s Terms of Use, and any additional terms in the auction catalog or announced prior to the auction. All sales are final. 1. Auction Overview Auction Type: Online-only, timed auctions conducted via Proxibid, with pre-bidding and timed bidding closing as specified in the auction catalog. Equipment: Items include heavy equipment and oil and gas equipment (e.g., pumps, rigs, trucks, trailers), as listed in the auction catalog. Multi-Seller: Lots are consigned by various sellers, with load-out locations specified per lot in the catalog. 2. As Is, Where Is No Warranties: All items are sold AS IS, WHERE IS, with no warranties or guarantees, expressed or implied, including merchantability, fitness for a particular purpose, or condition. Descriptions, photos, videos, and condition reports are for informational purposes only and do not constitute a warranty. Buyer Responsibility: Buyers must conduct their own due diligence, including inspections, to verify item condition, quantity, and specifications before bidding. Auctioneer is not liable for errors or omissions in catalog descriptions. 3. Bidder Registration Eligibility: Bidders must be 18 or older and provide accurate registration information via Proxibid. Verification: Auctioneer may require a valid government-issued ID, proof of funds, or a refundable deposit (e.g., $1,000) for high-value lots. Account Security: Bidders are responsible for maintaining the confidentiality of their Proxibid account and bidding activity. Unauthorized use is prohibited. Auctioneer Rights: Auctioneer may refuse registration or participation at its sole discretion. 4. Bidding Process Pre-Bidding: Opens and closes as specified in the auction catalog. Pre-bids are maximum bids automatically represented by Proxibid. Timed Auction: Lots close sequentially on the auction close date. Extended bidding may apply if bids are placed in the final minutes. Reserves: Lots may have a reserve (minimum sale price). Auctioneer may modify or remove reserves at any time, including during live events, with consignor approval and bidder notification via Proxibid, catalog updates, or announcements during the auction. Winning Bids: The highest bidder acknowledged by Proxibid at lot closing is the Buyer, subject to Auctioneer’s approval. Auctioneer may reject bids, withdraw lots, or cancel the auction without liability. Disputes: Auctioneer’s determination is final in bidding disputes. Auctioneer may reopen bidding, award the lot, or cancel the sale. 5. Buyer’s Premium and Fees Buyer’s Premium: A 10% buyer’s premium is added to the hammer price (e.g., $10,000 bid = $1,000 premium, total $11,000 before taxes/fees). Sales Tax: Applicable taxes apply unless a valid exemption certificate is provided at registration. Additional Fees: A documentation fee (e.g., $50 per titled item) may apply. Proxibid internet bidding fees (e.g., 2–3%) are outlined during registration. Currency: All payments must be in U.S. dollars. 6. Payment Deadline: Full payment (hammer price, buyer’s premium, taxes, fees) is due within 3 business days of auction close. Methods: Accepted methods include wire transfer, certified check, or credit card (up to $5,000, 3% surcharge). Contact auctions@powerdrivesupply.com for instructions. Non-Payment: Failure to pay by the deadline may result in: Forfeiture of the item and cancellation of the sale. Retention of deposits as liquidated damages. A 1.5% monthly late fee or legal action. Ban from future auctions. 7. Item Removal (Checkout) Deadline: Items must be removed within 14 days of auction close during specified hours (8 AM–4 PM, by appointment). Check lot details for load-out address. Scheduling: Buyers must schedule removal and present paid invoice and ID at pickup. Buyer Responsibility: Buyers are solely responsible for all costs, risks, and logistics of dismantling, loading, and transporting items. Auctioneer provides no load-out assistance. Safety: Buyers must wear PPE (hard hat, high-vis vest, steel-toe boots) when picking up items at consignor yards. Storage Fees: Items not removed by the deadline incur a $25 per lot per day storage fee, starting the day after the 14-day period. Unclaimed items after 21 days may be deemed abandoned and resold, with proceeds applied to storage and disposal costs. Titles: Titles for vehicles or titled equipment will be mailed within 15 business days of cleared payment. 8. Risk of Loss Transfer: Risk of loss transfers to the Buyer upon the earlier of payment or auction close. Buyers must insure items from that point. No Liability: Auctioneer is not liable for loss, damage, or theft of items after the auction, including during removal. 9. Liability and Indemnity Assumption of Risk: Bidders and Buyers assume all risks associated with inspecting, bidding, and removing items, including personal injury or property damage. Indemnity: Buyers agree to indemnify and hold harmless Auctioneer, Proxibid, and their affiliates from claims arising from auction participation or item use. 10. Auctioneer’s Rights Modifications: Auctioneer may modify these Terms, add/withdraw lots, adjust reserves, or cancel the auction at any time, with notice to bidders as required. Reserve Changes: Auctioneer may lower or remove reserves at any time, including during live events, subject to consignor approval and bidder notification via Proxibid or catalog updates. Dispute Resolution: Disputes are governed by Montana law and resolved through binding arbitration in Billings, Montana. The losing party may be responsible for reasonable attorney fees and arbitration costs, as determined by the arbitrator. Force Majeure: Auctioneer is not liable for delays due to events beyond its control (e.g., natural disasters, technical issues). 11. Proxibid Platform Platform Use: Bidding occurs via Proxibid, and Bidders agree to Proxibid’s Terms of Use (www.proxibid.com). Auctioneer is not responsible for technical issues (e.g., internet outages). Data Privacy: Personal information is processed per Auctioneer’s and Proxibid’s privacy policies. 12. Additional Terms Catalog Errors: Auctioneer may correct catalog errors without liability. Export Compliance: Buyers must comply with U.S. export laws for international shipments. Severability: If any Term is invalid, others remain enforceable. Contact Information For questions, contact Power Drive Supply Auctions: Email: Auctions@powerdivesupply.com By participating, you acknowledge that you have read, understood, and agree to these Terms.