THESE ARE THE TERMS for: The Panamax Auction MARCH 25, 2011. PLEASE READ THESE TERMS CAREFULLY and call us with any questions. All articles are sold "AS IS WHERE IS" and with no warranties or guaranties of any type either expressed or implied made by BARTEL & COMPANY. In no event shall the Auctioneers, any employee, agent or associate of Bartel & Company be responsible or liable for any such warranties, guarantees or the description of any article offered for sale. Bartel & Company is providing Internet pre-auction and live bidding as a service and convenience to bidders. Bidders acknowledge and understand that this service may or may not function correctly. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auctions begin. Bartel & Company reserves the right to withdraw or re-catalog items in this auction at anytime. All statements in print as well as verbal statements made by the auctioneer or staff have come from others and are accepted as reliable. Bartel & Company assumes no responsibility or liability for representations made and shall have no obligation to verify or authenticate any statements or claims. Any announcements made from the auction block shall take precedence over any printed information in the catalogues, ads, brochures, signs and any other source. ALL ARTICLES IN THIS AUCTION WILL SELL TO THE HIGHEST BIDDER AS DETERMINDED BY THE AUCTIONEERS. THE AUCTIONEERS WILL RESERVE THE RIGHT TO REJECT A BID FROM ANY BIDDER. If you plan to bid online, you must be pre-approved by Bartel & Company. The pre-approval process is easy but necessary. Bartel & Company will verify identity, telephone number, method of payment, deposit amount, and confirm your agreement to the Terms & Conditions of this auction. The direct on site telephone is 574-596-9890. THE BUYER’S PREMIUM FOR ONLINE BIDDERS IS 10% OF THE HAMMER PRICE . A PRE-AUCTION BIDDER DEPOSIT MAY BE REQUIRED. SETTLEMENT MUST BE MADE FOR PURCHASES MADE EACH RESPECTIVE AUCTION DAY AT OR BEFORE THE CONCLUSION OF EACH AUCTION DAY. ALL BIDDING AND PURCHASES WILL BE IN US FUNDS.