Sale Terms and Important Information

TERMS OF SALE

THESE TERMS OF SALE SHALL CONSTITUTE A CONTRACT BETWEEN SCHNEIDER INDUSTRIES (“SI”) AND ANY PURCHASER OR PARTICIPANT IN THE AUCTION (the “AGREEMENT”).  SI IS MERELY PERFORMING AN AUCTION SERVICE IN CONNECTION WITH THE SALE OF CERTAIN GOODS AND EQUIPMENT (“EQUIPMENT”) AND IS RESPONSIBLE ONLY FOR ANY WARRANTIES SPECIFICALLY MADE BY SI IN WRITING HEREIN.  SELLER RESERVES THE RIGHT TO ACCEPT OR REJECT ANY AND ALL BIDS, AND TO REMOVE ANY ITEMS IN ADVANCE OF THE AUCTION.  A 15% BUYER’S PREMIUM, PLUS A 3% INTERNET FEE SHALL BE APPLIED TO ALL SALES.  PAYMENT IN FULL SHALL BE MADE UPON THE TERMINATION OF THE SALE, BUT IN NO EVENT LATER THAN THE END OF THE AUCTION.  RIGGING FEES WILL APPLY TO ALL PURCHASES, AND MAY BE REQUIRED TO BE PAID TO SI IN ADVANCE OF PURCHASE.  APPROVED RIGGERS WILL BE POSTED ONLINE PRIOR TO THE AUCTION, AND NO OTHER RIGGERS SHALL BE USED UNLESS APPROVED BY SELLER IN ADVANCE OF THE AUCTION.

1. Only Company Checks issued from banks within the United States, Wire Transfers or Cashier’s Checks payable to SI will be accepted. No EQUIPMENT is permitted to be removed from the sale site until payment in full is received by SI and cleared by the issuing bank.

2. While descriptions and/or specifications are believed to be correct, neither SI nor the Seller make any warranties, representations, or guarantees expressed or implied, as to the genuineness, specifications, accuracy, authenticity of, or condition of any of the Equipment. Purchasers and prospective purchasers agree that they are not relying upon any of such warranties, representations or guarantees, and expressly waive any and all claims against Seller and SI, including for advertising discrepancies or inaccuracies. Everything is sold "AS IS" and "WHERE IS", and no warranties are made as to the merchantability of any items or their fitness for any purpose.  Purchaser acknowledges that it has the reasonable opportunity to fully inspect any Equipment prior to the Auction.

3. Purchaser hereby agrees to defend, indemnify and hold harmless Seller, SI, and their directors, officers, employees and other agents and representatives from and against any and all liabilities, judgments, claims, settlements, losses, damages, penalties, obligations and expenses, including attorney`s fees and expenses and other professional fees and expenses, incurred or suffered by Seller of SI arising from, by reason of, or in connection with any loss, damage or injury to any person or property arising from, by reason of or in connection with the EQUIPMENT sold hereunder, or any such damage or injury caused during the sale or by the removal by Purchaser or its agents of Equipment purchased. This indemnification shall survive delivery of the Equipment to Purchaser and any subsequent sale or other transfer of the Equipment to a third party.

4. It is the PURCHASER's responsibility to secure all EQUIPMENT immediately following notice that Purchaser has been awarded the winning bid, and PURCHASER becomes solely responsible for, and bears all risk of loss as to all items purchased by him/her immediately following the winning bid at the auction. Therefore, Purchaser is advised to further guard and insure his/her items at his/her own discretion. to meet all applicable government safety standards in using or removing items purchased. All Import, Export, or other Taxes, Packaging, Rigging & Transportation fees are the sole responsibility of PURCHASER. 

5. Sales Tax will be added to the purchase of all taxable items, and shall be the responsibility of PURCHASER.  Dealers who purchase for resale must file their resale permit numbers. If sales tax is not collected at the time of sale and is deemed needed to be paid at a later date, PURCHASER agrees to pay all required taxes.

6. In the event of non-delivery of any item for any reason, other than through the fault of PURCHASER, PURCHASER’S sole remedy shall be the refund of the monies deposited for any such non-delivered items.  . Except as specifically set forth in this paragraph, PURCHASER waives any and all claims or causes of action against SI and Seller due to non-delivery, or the quality or condition of any item for any reason, including but not limited to any claims for consequential or special damages.  

7. In the event the PURCHASER fails to pay the entire purchase price, plus all applicable fees, including rigging fees, within the time set forth herein, or as otherwise designated by SI or Seller, and/or fails to comply with any of the conditions or terms of sale, the Seller may elect to pursue any and all remedies available in equity or law, or alternatively, retain any monies paid by PURCHASER as liquidated damages and, in addition thereto, keep or sell all EQUIPMENT awarded to Purchaser at public or private sale without further notice. 

8. All Items must be removed from the premises within the removal time announced at the sale. No item can, on any account, be removed before termination of the sale. Removal shall be at the expense, risk and liability of the PURCHASER. SI shall not be responsible for items not removed within the time allowed. If Equipment is not removed within the specified removal time, they shall be deemed abandoned, and PURCHASER shall be liable for any moving and storage costs incurred as a result thereof.

9. If any shortage exists on estimated counts, an adjustment will be made if claims are made at time of removal. No adjustment will be allowed after items are removed from the premises.

10. Technology Disclaimer: SI does not warrant that the functions, features or content contained in the website, including any third-party software, products or other materials used in connection with the website, will be timely, secure, uninterrupted or error-free.

11. If any dispute arises between two or more bidders, SI reserves the right to put the lot up for sale again, and resell any Equipment.

12. Purchaser and any bidders acknowledge that SI is not in any way responsible for any acts or conduct of Seller.

13. Seller and/or SI reserve the right to accept or reject any and all bids or bidders for any reason whatsoever.

14. SI and/or Seller may, in their sole discretion, designate minimum prices or reserves for any Equipment.   Moreover, bidder acknowledges they have been informed that SI may bid at the auction for its own account or on behalf of a third party or the Seller.

15. By accepting a sale listing catalog and signing this form, the PURCHASER agrees to these terms and any announced terms at the sale.

16.  This Agreement shall be governed by, and construed in accordance with the laws of the State of Missouri.  PURCHASER submits to the jurisdiction of the State of Missouri, and any and all disputes arising out of or related to this agreement shall be heard and determined in the Circuit Court of St. Louis, County, State of Missouri.  SI shall be entitled to all costs and expenses, including its reasonable attorney’s fees in defending or prosecuting any issues related to the terms of this Agreement.