GENERAL TERMS AND CONDITIONS FOR EQUIP-BID AUCTIONS (Equip-Bid)

THIS IS AN ONLINE ONLY AUCTION BOUND BY ALL LEGAL RIGHTS AND REMEDIES IN THE STATE IN WHICH THE AUCTION OCCURS.

DO NOT BID IF YOU CANNOT AGREE TO THE TERMS OF THIS CONTRACT OR ARE NOT ABLE TO PAY AND PICK UP YOUR ITEMS WITHIN THE SPECIFIED TERMS OF EACH AUCTION.

AUCTION CLOSING DATE:

The auction will close according to the terms listed specifically within each auction. Any terms or conditions listed for a specific auction will supersede those listed within the general terms in this agreement. Along with closing date and time, item inspection, location and removal times will also be listed for that specific auction.

SHIPPING:

If shipping is required, we will use the UPS Shipping Calculator to determine shipping prices. You will also need to add a packaging and handling fee to the invoice price as follows: 10lbs or less = $12.00 11lbs to 25lbs = $17.50 26lbs to 50lbs = $23.00 50lbs or more – call for quote

BUYERS PREMIUM/SALES TAX:

Beginning with auctions ending March 1, 2010 and henceforth, a fifteen percent (15%) buyer’s premium will be added to each purchase. If you bid $100.00, at checkout you will be charged $115.00 plus sales tax based on the location of the auction. If tax exempt, contact Equip-Bid Auctions to provide tax exempt form.

PAYMENT:

Invoice must be paid prior to removal of items. If items are located at Equip-Bid facility (1501 W 12th St, Kansas City, MO 64101 or 606 S Commerce, Wichita, KS 67202), payment will be accepted at time and place of removal. If removal is at any other location, payment must be made prior to, and a *Paid in Full* invoice must be presented when picking up. Regardless of pick-up location, all payment arrangements must be made within 2 business days of the auction’s closing. Business days are Monday-Friday. If invoice payment arrangements are not made by this time, you authorize your credit card on file to be charged for total amount plus a $25.00 late payment fee. No late fees will be removed from an invoice once they are added. It is your responsibility as the buyer if you have not received a paid invoice via email within 24 hours of submitting payment to contact Equip-Bid to verify receipt of payment in order to avoid being charged a late fee. Accepted forms of payment include cash, certified check, money order, Visa, MasterCard, American Express and Discover. A valid credit card must be kept on file with Equip-Bid at all times. Equip-Bid has the right to submit an authorization from time to time to ensure the credit card is valid. If the card becomes invalid, Equip-Bid will disable your bidding rights and they will not be reinstated until a valid credit card is provided.

SECURITY POLICY:

We respect and are committed to protecting your privacy. We may collect personally identifiable information when you visit our site. We also automatically receive and record information on our server logs from your browser including your IP address, cookie information and the page(s) you visited. We will not sell your personally identifiable information to anyone. Your payment and personal information is always safe. Our Secure Sockets Layer (SSL) software is the industry standard and among the best software available today for secure commerce transactions. It encrypts all of your personal information, including credit card number, name, and address, so that it cannot be read over the internet.

REMOVAL:

Once an auction has ended, the items become the property of the winning bidder (buyer). Buyer assumes all risk of loss and damage to property from that point forward including at the premises of the sale. The removal date and time will be posted on the terms for each individual auction. REMOVAL TIMES ARE ABSOLUTE—IF YOU CAN NOT REMOVE YOUR ITEMS DURING SCHEDULED PICK-UP TIMES, DO NOT BID! Failure to remove purchased items during time allotted pick-up time will result in a storage fee of $100.00 per day per invoice. Items remaining at sale location after thirty days will be considered abandoned. Ownership of item will then revert to party with primary vested interest in the item to sell or dispose of item as it sees fit. Any funds paid shall be forfeited to satisfy terms of sale. The buyer agrees to pay all deficiencies, legal, collection and other fees including transportation and storage expenses associated with delinquent accounts or abandoned/forfeited items. Premiums and fees remain applicable.

DYNAMIC/STAGGERED CLOSING:

Beginning March 1, 2010, auctions at www.equip-bid.com will close at a rate of three (3) items per minute. If a bid is made within the last 3 minutes, the closing time for that item will be extended for five (5) minutes in order to imitate a live auction as closely as possible.

BID NOTIFICATION:

If you have been outbid you will be notified by email ONLY until the day before the auction ends. The email outbid notifications will not be sent for an auction beginning at midnight (EST) on the day of the auction ending. To quickly review your bids and see if you are the winning bidder, you can utilize the “Review Bids” feature. Items which you have been outbid on will be marked.

WINNING BIDDER NOTIFICATION:

Notification of items won will be sent to you ONLY by email. It is the buyer’s responsibility to check your email (it may be necessary to check junk/spam email folder.) If you feel you have won an item and have not received an email, you must notify Equip-Bid by email or phone no later than 9:00 a.m. the day following the auction ending. In the event an item is not available for pick-up, the buyer must notify our onsite staff and file a claim within 24 hours of the pick-up date by replying to your original emailed invoice noting which items were not available for pick-up. After 24 hours past pick-up, Equip-Bid and the buyer agree that no adjustments or refunds will be made.

CAUTION TO THE BIDDER:

For demonstration purposes, various pieces of equipment may be joined together. Do not assume a lot consists of more than one item simply because they are connected together. You are bidding on the item as it is described and not the item in the photo. Equip-Bid makes an effort to ensure the descriptions are accurate and the photos match as well. However, an error can occur in the listing and in that case it will be the description and not the photo that will be the item won. If you feel there is a discrepancy or error between a listing and a photo, contact Equip-Bid for clarification and notification of error.

WARRANTY & CONDITIONS OF ITEMS SOLD:

All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied by the lot number affixed to the item. This sale is to the business community as “equipment” and “inventory” without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When not certain of the condition or use of an item, please bid accordingly.

CHOOSE WISELY:

We want everyone to get a good deal, and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistake. Once bidding ends, the item is contractually sold to the highest bidder and that item is the buyer’s property. When in doubt about condition, completeness or suitability for intended use, please bid accordingly. Equip-Bid reserves the right to add or remove items from an auction, split or combine lots, add minimum bids or reserve prices, cancel, suspend, extend or reschedule an item and/or auction event, and make changes to the auction closing, inspection, or removal times. Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

LIABILITY:

Equip-Bid and Seller’s liability shall be limited to the refund of bidder’s purchase price.

LIMITATIONS:

The above-stated Terms and Conditions for Equip-Bid Auctions cannot be altered except in writing by Equip-Bid.