Amada Coma 557 Turret Punch Press

Bidders. The term “Auctioneer” herein means The Equipment Hub, LLC.

1. IDENTIFICATION: All Bidders are required to fill out all registration forms before becoming approved.
2. DEPOSIT: Each Successful Bidder will be required to make a deposit in cash, wire transfer or by certified check of 25 percent of the bid on each lot purchased. In default of such deposit, the lot may be put up again immediately and resold.
3. TIME OF PAYMENT: Each Successful Bidder shall receive an invoice during or at the conclusion of the auction. All invoices must be paid in full by the close of business on the last day of the auction sale and prior to removing any Lot. Any other arrangements must be made with auctioneer prior to bidding. In the absence of payment or agreement by the auctioneer, title to the Lot shall not transfer to the Successful Bidder and such Bidder will lose any right, title or interest such Bidder may have acquired, and the deposit paid, if any, without further notice to such Bidder. The Bidder shall nonetheless remain liable for any damages caused by the Bidder’s failure to pay.

4. REMOVAL - All purchases must be removed not later than the date specified in the Auction Catalogue and/or announced at the sale. No Lot can, on any account, be removed during the sale. All goods are sold “Where Is.” Removal shall be at the expense, risk, and liability of the successful Bidder. Purchases will be released only on presentation of paid invoice. Auctioneer shall not be responsible for Lots not removed within the time allowed, but Auctioneer shall have the option to remove and store at the expense and risk of the successful Bidder any article purchased, but not paid for and removed within the time required.
5. MANNER OF PAYMENT – All payments must be made by cash, wire transfer, bank cashier’s check or company check with a bank letter of authorization guaranteeing funds to “The Equipment Hub, LLC” All checks for deposits and balances due shall be payable to the order of “The Equipment Hub, LLC" All invoices must be paid to representatives of the Auctioneer at the auction site unless otherwise announced. The full purchase price on all Lots sold to the same Successful Bidder must be paid within the time fixed and before removal of any Lot.
6. DISCALIMER OF ALL WARRANTIES INCLUDING IMPLIED WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR PARTICULAR PURPOSE; CONDITION OF ARTICLES SOLD – The Auctioneer and any owner, seller, or secured party make no warranties express or implied as to merchantability or fitness for purpose whatsoever. All such express or implied warranties are expressly excluded hereby. No oral statement or other writing by any person negates this exclusion. If you think you have received any assurance or warranty of any kind as to a Lot offered in this auction do not bid on such item unless the Auctioneer has signed a writing specifically directed to you and identifying the Lot and stating the modification of this exclusion The Auctioneer shall not be responsible for the correct description, genuineness, authenticity of, or defect in any Lot, and makes no warranty in connection therewith. No sale will be set aside nor allowance made on account of any incorrectness, error in commentary, cataloging, or any imperfection not noted. No deduction, credit or avoidance shall be allowed on damaged articles, all Lots being exposed for public exhibition are purchased and accepted by Successful Bidder “AS IS”, “WHERE IS” and “WITH ALL FAULTS”. Auctioneer makes no warranties or guarantees whatsoever whether written, oral or implied as to quality, quantity, condition, usability, salability, weight, measurement, age, model, mechanical condition, performance or other specifications and all sales made are utterly without recourse.

7. SAFETY DEVICES: Articles purchased may not incorporate approved activating mechanisms, operating safety devices or safety guards, as required by OSHA or otherwise. It is successful bidder’s responsibility that articles purchased be so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation.

8. INDEMNIFICATION: Successful Bidder agrees to indemnify and hold Auctioneer harmless from and against all claims and liabilities relating to the condition or use of the articles 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 articles, including OSHA requirements, or for proximate or consequential damages, costs or legal expenses arising therefrom.

9. CLAIMS: No claims will be allowed after removal of goods from premises.
10. RESPONSIBILITY FOR NON-DELIVERY: Auctioneer shall not, in any event, be liable for non-delivery of for any other matter or thing, to any purchaser of any lot, other than for the return to the successful bidder of the deposit or sum paid on said lot, should the successful bidder be entitled thereto.

11. COMPLIANCE WITH TERMS OF SALE: In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Lots not paid for and removed within the time allowed herein 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 Successful Bidder.

12. RISK TO PERSON AND PROPERTY: Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the Auctioneer from liability therefore. Neither the Auctioneer nor his principal shall be liable by reason of any defect in or condition of the premises on which the sale is held.

13. ADDITION TO OR WITHDRAWAL FROM SALE: The Auctioneer reserves the right to withdraw from sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the Auctioneer reserves the right to sell all the property listed, in bulk.
14. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE: Where items are sold by estimated weight, count or measure, the successful bidder will be billed for and required to pay for the estimated weight, count or measure. If, upon delivery, any shortage exists, the successful bidder will receive a refund at the rate of purchase. If there be an excess, the successful bidder will be required to take and pay for such excess, at the rate of purchase.

15. DISPUTE BETWEEN BIDDERS: If any dispute arises between two or more bidders, the Auctioneer may decide the same or put the lot up for sale again at once, and resell to the highest Bidder. The 
Auctioneer’s decision shall be final and absolute.

16. RESERVE: The Auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the Auctioneer shall have the right to bid on behalf of the Seller.

17. RECORDS: The record of sale kept by the Auctioneer and bookkeeper will be taken as final in the event of any dispute.

18. AGENCY: The Auctioneer is acting as agent only and is not responsible for the acts of its principals.
19. SALES TAX: Successful Bidder shall also pay all applicable sales or use taxes imposed by all taxing authorities on such transaction unless purchaser shall present a resale certificate, certificate of exemption or the like, exempting the successful bidder and auctioneer from the payment of any such sales and use taxes.

20. BANKRUPTCY: If at any time prior to payment in full, Successful Bidder files a petition in bankruptcy or for other similar protection from creditors, or an involuntary petition in bankruptcy or other similar proceeding is filed against purchaser, then, at the option of the Auctioneer, the sale may be voided.

21. 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.