TERMS, CONDITIONS & PAYMENT INSTRUCTIONS
A 5% BUYER’S PREMIUM WILL BE CHARGED AT ALL AUCTIONS
$5,000 Wire or Credit Card Deposit Required to Participate
- The term “Buyer” refers to you and each individual, partnership or entity who registers to purchase Equipment at any Taylor & Martin, Inc. (T&M) Auction.
- The term “Equipment” refers to all motor vehicles, trailers and other forms of titled and non-titled equipment or personal property sold or consigned to or through T&M.
- The Term “Buyer’s Premium” means an additional percentage charge based on the winning bid amount for each lot that each Buyer pays in addition to the winning bid amount.
Payments and Fees
- Deposit Required to Bid. A $5,000 deposit is required to participate in each T&M auction. Buyer must submit a $5,000 Deposit in the form of a Wire Transfer or Credit Card in order to register to bid for each auction. T&M has absolute discretion in determining which method of deposit is acceptable. Cash is not accepted for deposit or payment of Equipment. Credit card deposits (VISA/MasterCard ONLY) will be applied to your purchase if you are the highest bidder. A three percent (3%) convenience fee will be added to your invoice for any amounts paid by credit card. The total amount paid by credit card cannot exceed $5,000. If you are not a successful buyer, your credit card will not be charged. Please note that if you use a debit card, your bank may delay the release of your funds if you are not a successful buyer.
- Buyer’s Premium. T&M will charge and retain a five percent (5%) Buyer’s Premium to Buyer in connection with the purchase of each item of Equipment. As noted, this fee will be based on the total purchase price of the Equipment.
- Purchase Settlement. No settlements will be completed from the sale location. Payment in full must be made within 24 hours of the conclusion of the auction in the form of a Wire Transfer, Cashier’s Check or a Company / Personal Check accompanied by a bank letter of guarantee, with terms acceptable to T&M. This letter of guarantee must reference the specific T&M auction and include the following: “(Buyer’s bank) will guarantee or honor Buyer’s check up to a specified amount for purchases made at this auction.” All purchases are subject to verification with Buyer’s bank or financial institution. Cash is not accepted for payment of equipment. Credit Cards are only accepted for the $5,000 deposit and cannot be used to pay the full purchase price. Buyer will not be granted possession of any Equipment until full settlement is received.
- Sales Tax. All Buyers are subject to sales tax where applicable unless valid exemption forms are presented to T&M. Sales tax is not collected from out of state residents and any such taxes are the responsibility of the Buyer.
- Buyer is responsible to pay for all Equipment purchases in good funds not later than 24 hours after the conclusion of the auction.If full payment has not been received from Buyer in good funds within 24 hours after conclusion of the auction, T&M will retain Buyer’s deposit. If Buyer has not paid the full purchase price for all Equipment purchased at the auction within 14 days from the date of sale, then Buyer will forfeit all purchase rights in the Equipment. Under such circumstances, Buyer will be notified of the forfeiture through email and the U.S. Postal Service. T&M will be deemed the owner of the Equipment and any gain from the sale of the Equipment shall be retained by T&M. Buyer shall be responsible for any price shortfall for any item of Equipment that is re-sold for a price less than the original contract price. Further, Buyer will be prohibited from participating in any form of future T&M auction and from attending or monitoring any future auction.
Bids and Binding Agreement
- Legal and Binding Commitment. By agreeing to all terms and conditions and by bidding, each Buyer contractually agrees that such Buyer is ready, willing and able to purchase each lot for each bid amount that is submitted. Each Buyer is personally liable for any and all accepted bids made with the Buyer’s bidding number.
- No Refunds, Returns, Cancellations or Exchanges. The highest bidder for each lot shall be deemed the Buyer and contract purchaser of the lot. There are no refunds, returns, cancellations or exchanges. In the event of any dispute during the auction, the auctioneer shall have absolute discretion to decide the outcome of such dispute without recourse by any bidder.
Representations and Warranties
- Buyer Acknowledgement. BUYER ACKNOWLEDGES AND AGREES THAT BUYER IS RESPONSIBLE FOR ALL PRE-PURCHASE INSPECTION OF EQUIPMENT AND IS NOT RELYING UPON ANY REPRESENTATIONS OR WARRANTIES BY T&M OR THE SELLER/CONSIGNOR OF THE EQUIPMENT PROPERTY. BUYER AGREES THAT, EXCEPT AS TO MARKETABLE TITLE FROM SELLER ONLY, EACH ITEM OF EQUIPMENT IS SOLD “AS IS,” “WHERE IS,” WITH NO WARRANTIES EXPRESSED OR IMPLIED OF ANY KIND, NATURE OR DESCRIPTION INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, CONDITION (WHETHER OR NOT DISCOVERABLE), USABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AS TO BRAND, IDENTITY OR QUALITY OF THE UNIT, MATERIALS, COMPONENTS OR WORKMANSHIP. THERE IS NO REJECTION OR REFUND. IN NO EVENT SHALL T&M OR THE SELLER BE LIABLE FOR ANY LOSS OF PROFITS OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING IN ANY MANNER IN CONNECTION WITH THE SALE OF ANY EQUIPMENT.
- Assessment of Equipment. T&M has described Equipment in the catalog based upon information furnished by each consignor and T&M has not independently verified any such information. Each Buyer acknowledges and agrees that it has inspected, or arranged for the inspection, of all Equipment upon which a bid is being submitted and Buyer not relying upon any representations or warranties of T&M or the Seller. T&M shall have no liability whatsoever concerning any faults, deficiencies or errors of any description, oral or printed, and shall further have no liability concerning the authenticity, genuineness, origin, age, condition or quality of any Equipment. All statements as to all such matters contained in any advertisement, catalog or written or electronic communication are statements of opinion only and shall not be considered or implied as any statement or representation of fact or warranty.
- Emissions Altered. Buyer is responsible to ensure that all motor vehicles purchased with emissions alterations are restored in compliance with all state and federal emissions laws and regulations.
Equipment Removal and Buyer Responsibilities
- Equipment Removal. All purchases must be removed from the premises no later than 9 days following the auction. Any Equipment remaining after 9 days is subject to relocation to a subcontracted facility where transportation and storage fees will be collected prior to the Equipment being released. All costs incurred from the removal/storage of Equipment is the responsibility of the Buyer.
- Risk of Loss. BUYER ASSUMES ALL RISK OF LOSS TO THE PROPERTY FROM AND AFTER THE TIME THE AUCTIONEER ACCEPTS THE BUYER’S OFFER OR BID. Buyer shall be responsible to insure all of Buyer’s Equipment purchases against all losses from the auction date until removal of such purchases by the Buyer.
T&M shall not be liable for any delay, interruption or termination of any auction event beyond the reasonable control of T&M including, but not limited to, any pandemic, epidemic or spread of disease; act of God; act of war, terrorism or cyberattack; riots; floods; fire; unusually severe weather conditions; or act or order of any public or governmental authority. T&M shall not be liable or responsible for any interruptions, termination or corruption of any audio feed, video feed or of any other internet registration, bidding or other online related service that occurs before, during or in connection with the auction, regardless of the cause of fault attributable to the interruption, termination or corruption of such services.
Buyer agrees to indemnify and hold T&M harmless from any and all claims whatsoever arising in connection with the sale of the Equipment that are not proximately caused by the active negligence of T&M.
- The Buyer acknowledges that Buyer has read and agrees to be bound by the auction terms as well as all other terms and conditions set forth in the Buyer Registration Agreement, Auction Catalog, Auction Invoice, Bill of Sale and all other written or electronic terms and conditions provided by T&M in connection with this sale. Any verbal or written announcements of T&M or the auctioneer on the date of sale shall take precedence over any other written or electronic terms to the contrary.
- Governed by Laws of Nebraska. This agreement will be construed and governed according to the laws of the State of Nebraska and any disputes arising in connection with this agreement and auction shall be subject to the exclusive jurisdiction and venue of the state or federal courts of Nebraska.
- English Language. The English language shall control all terms, conditions, performance and interpretation of this Agreement and all matters concerning the T&M sales platform, including the resolution of any disputes associated therewith.
- Non-Waiver. The failure of T&M to enforce any of the provisions of this Agreement shall not be construed as a waiver of such provisions.
- Negation of Partnership. Each party agrees that nothing contained in this Agreement is intended to create any partnership, joint venture or association between the parties hereto or in any way makes either party a co-principal with the other party with reference to the terms and performance of the agreements referenced herein and any inferences to the contrary are hereby expressly disclaimed and negated.
- Withdrawal of Lots. T&M is not liable for any loss or damage whatsoever arising from any lots that are withdrawn or not presented for sale including, but not limited to, the costs of attendance at auction or any form of lost profit or consequential damages.
For complete wiring instructions and any questions, please call 800-654-8280.
Auctioneer License Numbers:
GEORGIA: AU004173, AU004132, AU004411, AU004415, AU-C002427
ILLINOIS: UDL8963, 441.002148, 441.002113, 441.002435, 444.000291
MISSISSIPPI: 1136F, 1451, 1450, 1579
NEBRASKA: DL-02659, AU00004
NEVADA: 1026289-105, 1000004-846-7, C5982-2001, C2152-1978, DLR000024834
NORTH CAROLINA: NCAL9831, NCAL9832, NCAL10335, NCAL2003, DLR#0072939
PENNSYLVANIA: AU006203, AU006011, AU006058, AY000249L
TEXAS: 17454, 17456, 18027, 18031, P4715X, P43685, P153008X, P153007