Auction Terms & Conditions 538
- TERMS AND IMPORTANT AUCTION DETAILS SECTION -
1. Auction Event Type: Live Onsite w/ Webcast
2. Auction Date: 1/26/2022
3. Auction Pre-bidding Opens: 1/12/2022
4. Inspection Dates: By Appointment
5. Location Address: 3114 Freeman St. Chattanooga, TN 37406
6. Buyer's Premium: Tiered (See Terms & Conditions)
7. Sales Tax: 9.25%
Tax Exempt Buyers: Tax Exemption documentation must be received prior to payment.
Vehicle Taxes: See Vehicles Section in Terms & Conditions.
8. Payment Due: Within 2 business days of auction.
9. Payments Accepted: Cash | Cashier's Check | Bank Wire* | Check* | All Major Credit Cards**
*See Payment Section in Terms & Conditions for further instructions.
**Credit card transactions incur a 3% processing fee.
**New Buyers: Invoices over $500 must be paid with cash or certified funds.**
10. $99 Document Fee: applies to items sold on documentation (Title, Bill of Sale, etc.)
11. Removal/Shipping: No items may be removed until all items are paid in full.
Removal Appointment Hours: Monday - Friday 8:30AM - 3:30PM EST.
Item removal is by appointment only.
Final Date of Removal: 2/4/2022
*See Shipping/Removal Section for full information.*
**If you do not have funds to pay for purchases at the time of the auction, please do not bid.**
PLEASE NOTE: Auction staff members can only provide basic
assistance onsite however they cannot breakdown, load, haul, disconnect,
nor do they have work or hand tools available, please come prepared with
all necessary tools and/or manpower needed to facilitate loading your items.
PRE-BIDDING: The online auction will open for pre-bidding. If you cannot
attend live you may leave a max bid and the system will auto bid for you
to that max amount. Questions? email@example.com or 800-729-6466
ONLINE BIDDING PARTICIPATION 101:
1 - Click on the Register to Bid Button - Complete the Registration
2 - Agree to the Terms of the Auction
3 - After Submitting Registration click on View Catalog to place your
4 - All Pre-Bids will be taken to our Live Webcast Auction
5 - Live Webcast Auction will start in conjunction with auction time
*Enjoy bidding from the comfort of your Office, Home, or on your
6 - Each lot will open with the current Pre-Bid that shows in the lot
7 - If you cannot join the Live Webcast Auction, leave your highest
Pre-Bid and the system will bid for you.
** ALL announcements made by Auctioneer at/or during the auction will take precedence over previous printed materials, website, or any other statements or descriptions made. **
**Online Bidders - Credit Cards will be processed 2 business days after
the auction unless you contact our office to make other arrangements.**
email: firstname.lastname@example.org or call 800-729-6466
AUCTION TERMS AND CONDITIONS:
BUYER'S PREMIUM: Tiered
*Select Municipal Items as Indicated in Lot Description*
All Sections of the Terms and Conditions apply no matter the section title
If you have any questions contact Compass Auctions & Real Estate, LLC.
email@example.com or 800-729-6466
ONLINE PARTICIPATION REQUIREMENTS: Valid Credit Card Authentication,
accurately completed registration form and approval by Auction Company
is required for bidding registration.
PAYMENT: Cash, Cashier's Check, Visa, MasterCard, Discover, American
Express - Credit Card Transactions Have a 3% Additional Fee, and Bank Wire
Transfers have additional fees of ($20.00 Domestic) ($40.00 International), checks accepted only
with a Bank letter of Credit with the following information included:
1) All Internet Buyers wishing to pay by check must provide a Bank
Letter of Guarantee. All letters must be faxed to 423-702-6179 or
emailed to firstname.lastname@example.org.
BANK LETTER REQUIREMENTS: The letter must state and represent as follows:
"Mr./Mrs. (Customer Name) is a customer in good standing at our bank. We will
guarantee the payment of checks on his/her account (Account Number) up
to (specify amount) dollars for purchase at your auction in (Auction
Location) on (Auction Date). We hereby agree that no stop payment will
be issued in conjunction with this letter."
PAYMENT INSTRUCTIONS: All onsite purchases MUST be paid for day of
auction and online MUST be paid for within 2 Business Days unless
arrangements/agreements have been made PRIOR to auction.
ALL Payment MUST be received within 2 Business Days of auction
regardless of scheduled pickup or transport times. Compass Auctions
reserves the right to charge any additional fees associated with
pursuing the collection process for any outstanding and nonpayment
(A $50.00 fee shall be assessed to Buyer for all returned checks and
interest may be charged at the rate of 3% of the total invoice weekly
plus, any additional costs, labor or fees incurred to pursue collection).
Payment is due IN FULL upon receipt of invoice. If payment is not
received within 2 Business Days of the conclusion of the
auction/invoice, the auction company may choose to void buyer's invoice, and
all items will be forfeited. Buyer will be banned from registration
and/or bidding in any and all auctions associated with Compass Auctions
& Real Estate, LLC., its affiliates, and/or industry associates. If a
credit card is listed on file, the buyer grants permission for that card to
be charged over a period of time until the total fees and charges are
paid in full. All legal fees, collection fees and any other charges
arising from nonpayment will be paid by the Buyer.
** If you do not currently have the funds to pay for your purchases DO NOT BID. **
WIRE TRANSFER INFORMATION INTERNATIONAL & DOMESTIC: Please contact
Compass Auctions & Real Estate, LLC. for information on wire transfers. The
information will be in emails sent to online winning bidders. There is a
$20.00 basic wire transfer fee for domestic wires and a $40.00 for international wires.
This amount must be included with the bank wire transfer otherwise the
credit card on file will be charged the appropriate amount. Auction
company reserves the right to hold items until final payment has been
processed in its entirety.
CURRENCY TYPE: USD
VEHICLES: $99 Document Fee: applies to items sold on documentation (Title, Bill of Sale, etc.)
Vehicles, trailers, equipment, etc. sold on a Bill of Sale are subject to sales tax.
Vehicles sold on title will not incur standard sales tax. Vehicles sold on title to be registered in the State of Tennessee will be charged vehicle tax required for registration. Vehicles sold on title to be registered outside Tennessee are not subject to sales tax.
If you plan to register a titled vehicle in an area that requires an emission or other test, emissions or other tests are not guaranteed and it is sold "AS-IS, WHERE IS" unless stated otherwise in the item description. All titled vehicles are sold "AS-IS, TOW AWAY" in regard to emissions tests. It is the buyer`s sole responsibility to determine if a titled vehicle is legal and able to be registered where buyer lives.
Titles for vehicles will be mailed within 21 business days for all vehicles.
SHIPPING/PICKUP | REMOVAL INSTRUCTIONS: Buyers are responsible for all
shipping arrangements, valid sales tax requirements, exporting
requirements/fees. Removal from auction location on day of auction, or
within 7 business days, UNLESS otherwise stated in the information
listed at the beginning of the Terms and Conditions section or a
previous agreement has been reached with the auction company. Partial
payment, partial removal of items is not accepted. ALL ITEMS MUST BE
PAID IN FULL PRIOR TO REMOVAL OF ANY ITEMS. Storage fees may apply after
14 days. Buyers causing damage, harm, creating environmental issues,
dumping, destroying or abandoning, refusal or any other act to cause
monetary expense to be incurred to a consignor's/seller's property or auction site
location or property of any type will be held liable for ANY AND ALL
damages, cleanup, or repair and may be prosecuted to the fullest extent
of the law. Compass Auctions & Real Estate, LLC., nor any consignor/seller,
will be responsible for packaging, shipment or transport of any
kind. All items become the property of the buyer at time sold and buyer
will take full responsibility of items. Compass Auctions & Real Estate,
LLC. nor consignor/seller, is responsible for damages incurred due to
loading and unloading, or during shipment of items, ALL ITEMS ARE SOLD "AS IS, WHERE IS." Compass Auctions & Real Estate, LLC. nor consignor/seller will
in any way, be responsible for any damages or injuries while
providing a lift, any tools, equipment and/or loading services, the lift
and loading is provided as a service to the buyers where available and
buyer will release and hold harmless any injuries or damages to property
or person that may occur due to the use of the lift or any tool,
equipment or loading service. Removal is fully at the buyer's expense
and responsibility. Buyer/Rigger is responsible for all
waste/oil/substance in the removal of assets, along with all spills that
may occur during the removal process. Buyer assumes all responsibility
for removal and may be required to present a copy of proof of insurance
naming auction company and seller as additional insured. Also, certain
item site locations may require a safety removal plan to be presented
and approved to remove certain items. Some sites may require buyer to
wear approved safety attire. Compass Auctions & Real Estate, LLC. makes
every effort to provide any additional requirements that must be met for
removal of items, however, unforeseen logistics, communication and/or
circumstances occur, and buyer assumes all responsibility for removal.
Compass Auctions & Real Estate, LLC. nor consignor/seller will in no way be
liable for any damage in loading, shipping or removal of items. In the
event that Bidder does not make the necessary arrangements and/or pay for shipping, or
have items removed in the allotted time disclosed, Bidder shall have no
claim against Compass Auctions & Real Estate, LLC. nor consignor/seller,
and buyer will forfeit the merchandise with no refunds or recourse.
PACKAGING, SHIPPING, TRANSPORTATION, LOGISTICS AND/OR RIGGING
AND REMOVAL ARE THE RESPONSIBILITY OF BUYER.
Compass Auctions & Real Estate, LLC. can provide basic pallet wrapping
for a charge of $75.00 per pallet. Compass will not assume any
responsibility for damage from packaging or transport or for any reason.
Compass Auctions & Real Estate, LLC. provides this as a service only to
assist buyers. BUYER WILL ALWAYS BE FULLY RESPONSIBLE FOR ALL PACKAGING,
SHIPPING, RIGGING & REMOVAL OF ITEMS.
CHECKOUT DATE & TIMES: Please see information listed above the terms and
conditions section. If special arrangements are needed, please contact
the auction company. 800-729-6466 or email@example.com
SPECIAL TERMS & CONDITIONS: -This property is being sold - "AS IS",
"WHERE IS", NO REFUNDS or EXCHANGES. NO CREDIT CARD CHARGE BACKS. ALL
SALES ARE FINAL. THERE ARE NO GUARANTEES OR WARRANTIES EXPRESSED OR
IMPLIED. Statements, conditions, descriptions, accurate weights or
measures on or about items in the auction are provided in good faith
and are only matters of opinion. The Auctioneer, auction company and
Consignor/Seller disclaim all warranties, expressed or implied, about the
merchantability of the items and their fitness for a particular purpose.
Items offered may or may not be sold as described and/or photographed in
item description catalog. ALL SALES ARE MADE "AS IS, WHERE IS" AND BUYER
ACKNOWLEDGES HAVING INSPECTED THE PROPERTY WHETHER IN PERSON OR ONLINE
AND TO BE SATISFIED WITH SAME PRIOR TO BIDDING. BUYER IS SOLELY RELYING
UPON THEIR OWN EXPERTISE IN CHOOSING TO MAKE ANY PURCHASE. Compass
Auctions & Real Estate, LLC. and Consignor/Seller assume no liability for any
environmental issues in the assets being sold. Compass Auctions & Real
Estate, LLC. and Consignor/Seller makes no warranties or guarantees of any sort
regarding any environmental issues and assume no liability of any sort
if any ever do exist. All counts and weights of items are approximate. All
information provided by the Consignor/Seller is believed to be correct, but not
guaranteed by Compass Auctions & Real Estate LLC. All announcements made
by Auctioneer at/or during the auction will take precedence over
previous printed materials, website, or any other statements or
descriptions made. A Buyer`s Premium indicated in details section above
will be added to all purchases; a 3% administrative fee will apply to
ALL credit card purchases. If you do not currently have the funds to pay
for your purchases DO NOT BID. Buyer/Rigger waives any and all claims it
may have for any damages, including actual and punitive, whether caused
by negligence, willful misconduct or otherwise, and assumes all risk
related to the removal of any and all item purchases. SALES TAX WILL BE
CHARGED on all purchases unless otherwise stated in the above section.
Additionally, each buyer shall be responsible for payment of any city,
county and/or state sales tax that may apply. By registering to bid,
buyer is entering into a legally binding contract and agrees to be bound
by and adheres to all terms and conditions of this auction.
Feel free to contact Compass Auctions & Real Estate, LLC. at
firstname.lastname@example.org or 800-729-6466 with any questions about the
auction or the items in the auction.
ON-LINE TERMS: -The Buyer's Premium listed in the Terms Details Section
above will apply -A bank wire transfer fee of $20.00 for domestic and $40.00
for international will be added to all bank wired funds. -Compass
Auctions & Real Estate, LLC. has strived to accurately prepare and describe
all items in this catalog. All sections of the Auction Terms and
Conditions apply to ALL bidders including online, onsite, attendees or
participants of any kind regardless of the section title. All items are
sold "AS IS, WHERE IS". It is solely the bidder's responsibility to
determine the exact condition and approximate count of each item that he/she bids on, all counts are approximate. -It is the responsibility of
the Bidder to attend the auction preview or schedule an independent
preview to satisfy themselves as to the age, condition, value, count, or
any other determining factors of the items. Compass Auctions has
attempted to provide the correct item description and/or pictures
however, any errors or omissions in any provided format, description, or
picture, does not affect/or void the sale in anyway, all items are sold
"AS IS, WHERE IS" and ALL SALES ARE FINAL. Compass Auctions & Real Estate, LLC.
will NOT be responsible for any errors and/or omissions in the
description, and/or pictures of the items. Bidder agrees that under no
circumstances whatsoever will Compass Auctions or consignors/sellers ever be
liable to any bidder for an amount greater than the purchase price of
the item they purchased and only when in agreement that statement
materially and intentionally was incorrect. Statements, conditions or
descriptions on or about items in the auction are provided in good faith
and are only matters of opinion and approximation. Any dismantling
of items is prohibited on the auction site or any consignor/seller property.
Under NO circumstances shall the Bidder have any claim against Compass
Auctions & Real Estate, LLC. or consignor/seller in the event of any technical
issues. Bidder is bidding on item information only. Pictures of items
are provided as a reference only and may not always display accurately
with correct lot or context. If buyer has a question regarding lot
information or images, contact our office PRIOR to bidding. If images
display obvious information for lot with limited item text description
and/or do not match lot described, buyer is using their expertise,
knowledge and judgment to purchase the lot based on what the images
reveal and the lot information provided. Even though an item may display
as "sold" on the internet, no sales are final until they are certified
by Compass Auctions & Real Estate, LLC. and Bidder receives an invoice
and provides good payment. This auction company has requested and been
granted access to see all bids placed including any maximum pre-bids.
This auction company is permitted to engage in this activity by
providing this clear disclosure to you, the bidder. The bids are
advanced at pre-set increments available on the bidding web page. From
time to time Compass Auctions & Real Estate, LLC. may accept items with
undisclosed reserve prices. The consignor/seller and Compass Auctions & Real
Estate, LLC. reserve the right to bid on behalf of the consignor/seller on items
on which there may be a reserve. Compass Auctions & Real Estate, LLC.
may reject or cancel any bid for any reason. The record of the auction
made by Compass Auctions & Real Estate, LLC. shall be conclusive. This
is a Public Auction and as such, all qualified bidders may bid including
Compass Auctions & Real Estate, LLC. owners, family members and
employees and any consignor company, group members or employees. -Compass
will not be responsible for any missed bids from any source. -By bidding
on any item in the auction the registered bidder has accepted the terms
and conditions of the auction and acknowledges that this is a legally
binding contract. -If you win an item in the auction you will be
notified by email within 24 hours. All items will be charged to the
credit card on file within 2 business days after billing unless other
arrangements are made PRIOR to the auction start time. The initial
invoice you receive after the auction close will be used for billing,
any additional fees or charges may be sent in a separate invoice and
charged to the credit card on file. -All accounts will be settled at the
conclusion of the auction or within 72 hours with prior approval. We
accept Cash, Cashier's Checks, Visa, MasterCard, Discover, American Express and
Bank Wire Transfers (within 2 business days of auction close ) as
determined by the auction payment terms listed in the Terms Detail
Section above. Checks must be Pre-Approved by Compass Auctions & Real
Compass Auctions & Real Estate, LLC. reserves the right to withdraw or
re-catalog items in the auction as needed. All announcements made day of
auction or posted as an update in the terms & conditions will take
precedence over any and all written, verbal or electronic statements,
Auction Company reserves the right to update terms and conditions at any
time without notice. Registration: -Online bidding will be conducted
with an online bidding platform-Internet Bidders are required to
register with the online bidding platform and receive an Auction
Registration Bidder Number. Compass Auctions & Real Estate, LLC. is providing
Internet Auction bidding as a service. Compass Auctions will not be held responsible
for any issues with technology, Auction or Live Bidding over the
internet. - Internet bidders who desire to make certain their bid is
acknowledged should use the proxy-bidding feature and leave their
maximum bid 24 hours prior to the beginning of the auction. -By
registering to bid and/or bidding on any item in the auction the
registered bidder has accepted the terms and conditions of the auction and agrees to
adhere to and be bound by all sections of the auction terms and
conditions. This is a legally binding contract whether attending onsite
or by clicking to agree to the terms and conditions online, or by any
other digital method whether by fax or email the buyer is bound by the
terms and conditions set forth in this contract.
Compass Auctions & Real Estate, LLC. reserves the right to refuse service or
decline registration to any person/persons. -A winning bid is a legal
binding contract to buy and provide good funds. Title to the merchandise
transfers to Bidder, only when Bidder`s payment is honored. No items
will be removed without final payment received. Auction Company reserves
the right to hold items until payment can be finalized in its entirety.
Packaging & Shipping: -The Buyer is ultimately responsible for all
removal, packaging, shipping and insurance costs. Compass Auctions and
consignors/sellers will in no way be liable for any damage in loading or
shipping. In the event that Bidder does not make arrangements and/or pay
for shipping, or have items removed in the allotted time disclosed,
Bidder shall have no claim against Compass Auctions or consignors/sellers and
will forfeit the merchandise with no refunds or recourse. Also, packaging
and shipping information listed in all sections of the auction terms and
EXPORT. Buyer agrees to comply with applicable export control laws and
regulations of the United States (including, without limitation, 15
C.F.R. Parts 730, 736, 738, 744, or 774, and 10 C.F.R. Parts 810.7 and
810.8). Buyer agrees not to export, directly or indirectly, any property
or items purchased hereunder to:A. Cuba, Iran, North Korea, Sudan, or
Syria;B. any person or entity listed on any United States government
denial list, including but not limited to, the United States Department
of Commerce Denied Persons, Entities, and Unverified Lists; The United
States Department of Treasury Specially Designated Nationals List; and
the United States Department of State Debarred List; and C. any entity
Buyer knows, or should know, will export the items or property purchased
hereunder in violation of applicable export control laws and regulations
of the United States.
Domestic customers: All property is sold F. O. B. Origin/Collect (unless
otherwise noted); which for the purposes of this agreement are defined
as follows: customer is responsible for all transport arrangements and
payment, transference of ownership is established to the buyer at the
point of origin when loaded upon the buyers appointed conveyance.
Export shipments: Non-domestic customers- All property is sold Incoterms
Ex-Works-Origin. Buyer shall arrange and bear all customs taxes and
charges and arrange for the loading of the purchased goods. Buyer agrees
to comply with all applicable United States export laws and regulations.
Compass Auctions is not the originator nor responsible for any fees or
INJURY AND DAMAGE:
Bidder acknowledges responsibility for any personal injury or property
damage caused by themselves or his or her agent, and further agrees to
hold the auctioneers Compass Auctions & Real Estate, LLC. and consignors/sellers
harmless from any personal injury to himself or his agents and any
property damage incurred on auction/consignor premises, and releases
Compass Auctions & Real Estate, LLC. and clients from any liability due to any
damage or injury.
The auctioneers at Compass Auctions & Real Estate, LLC. are acting as the sellers
Auctioneer shall designate the winning bidder after each item is
auctioned. If a dispute arises between two or more bidders, the
Auctioneers reserve the right to reopen the bidding. The auctioneer's
designation of a buyer shall be final.
Any and all disputes that require litigation shall be administered and
shall be enforced and brought in The State of Tennessee, Hamilton
County, and governed by the laws of the State of Tennessee. Compass
Auctions & Real Estate, LLC. reserves the right to select the venue for the
litigation proceedings whether by arbitration or litigation. Compass
Auctions reserves the right to receive compensation of any and all legal
fees, collection fees and any other charges incurred by Compass Auctions
& Real Estate, LLC. as a result of any legal action.
BY REGISTERING, BIDDING, AND/OR ATTENDING THIS AUCTION YOU AGREE TO ALL
TERMS & CONDITIONS LISTED AS ACKNOWLEDGED AND SET FORTH BY COMPASS
AUCTIONS & REAL ESTATE
FOR FURTHER INFORMATON PLEASE CONTACT COMPASS AUCTIONS & REAL ESTATE
800-729-6466 OR email@example.com
Seller User Terms
Bidder User Terms