COPELAND COMPRESSOR

TERMS AND CONDITIONS This is a legal agreement between you, the user or buyer, and Surplus Asset Management, Inc. You should read this agreement carefully before accepting its terms. If you have any questions regarding the meaning or application of this Agreement, please direct your questions to: Surplus Asset Management, Inc. 4111 W. Clarendon Ave. Phoenix, AZ 85019-3616 Info@surplusassetmanagement.com You must be at least 18 years old to bid. When you click on the Online Form to become a bidder, you will be redirected to Proxibid.com and you must agree to the Proxibid Unified User Agreement. You are bound by the obligations of that agreement. In addition, by submitting the Online Form, you agree to these Terms and Conditions. DO NOT BID IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS OR YOU ARE NOT ABLE TO PAY AND PICK UP YOUR ITEMS WITHIN THE SPECIFIED TERMS OF EACH AUCTION. DEFINITIONS The following terms are defined for use in this agreement, and their meaning in this agreement is limited to the given definition. 'You', 'Bidder,' 'Your', 'Buyer' and 'User': These terms refer to you. 'SAM', 'We', 'Us', 'the Company' and 'Our': These terms all refer to Surplus Asset Management, Inc. “Seller” means SPECIFIC AUCTION TERMS Each auction listing will include a “Terms of Sale.” Any terms or conditions listed for a specific auction are in addition to these terms and, in the event of an inconsistency, will supersede these Terms and Conditions . Each specific auction will list the closing date and time, item inspection, location and removal times. By bidding on an item, you agree to those terms. PAYMENT The balance is due at the end of the auction once you are declared the winner of the final bid. Bidder number and photo identification will be required at the time of pick up. If you are the successful bidder, you authorize your credit card on file to be charged for total amount, which includes the bid amount, buyer’s premium and sales tax. It is your responsibility as the buyer to contact SAM to verify receipt of payment if you have not received a paid invoice via email within 24 hours of submitting payment. Applicable state sales tax will be added to all purchases. TAX EXEMPT STATUS - If you are tax exempt, PRIOR to the conclusion of the auction you must email a copy of the appropriate states tax exempt form to info@samauctions.com. If you have any questions, contact 877 726 2828 or email info@samauctions.com and include your bidder number. SAM or the seller of the items will retain this copy of the certificate for the sales records. If you are unable to provide a copy of this tax-exempt certificate at the time of purchase, you must pay all applicable taxes and seek refunds through appropriate government agencies. SAM will not provide a tax refund. FAILURE OF PAYMENT In the event of that you do not pay for the item purchased, including any protest or chargeback on any credit card used for the purchase, SAM will withhold delivery of the goods. You will lose any right, title or interest you have acquired and the merchandise shall revert and repossess to Sam or the seller without further notice to You. If commercially feasible, SAM will resell the items and recover damages from you for (a) any shortfall of the resale price below the price you agreed to; (b) all bidding fees paid by SAM; and (c) and all costs of storage. In the event that it is not commercially feasible to resell the item, SAM will recover damages from you for the full purchase price; (b) all bidding fees paid by SAM; and (c) and all costs of storage, moving and resale. BUYERS PREMIUM/SALES TAX A buyer’s premium of eighteen percent (18%) for credit card purchases and fifteen (15%) for cash purchases (cash only available for auctions in the Phoenix area, contact us for info) will be added to each purchase UNLESS OTHERWISE STATED. If you bid $100.00, at checkout your card will be charged $118.00 plus sales tax based on the location of the auction. If you elect to pay cash (see terms above regarding cash payment), you must notify SAM before the close of the auction. If tax exempt, contact SAM Auctions to provide a valid tax exempt form. NO SALES TAX REFUNDS WILL BE MADE. ONLINE BIDDING DURING LIVE AUCTION Online bids will be treated as a relayed bid during the live auction and will be executed against those of the live audience. In case of a dispute, the decision is at the auctioneer’s sole discretion. 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 or photographed together. You are bidding on the item as it is described and not the item in the photo. SAM Auctions 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 the description of the item controls. If you feel there is a discrepancy or error between a listing and a photo, contact SAM Auctions for clarification and to notify us of the error. WARRANTY & CONDITIONS OF ITEMS SOLD All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied. Descriptions are believed to be accurate but not guaranteed. SAM will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. When not certain of the condition or use of an item, please bid accordingly. Property is open to thorough public inspection. Bidders who bid from off site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is your responsibility to determine condition, age, genuineness, value or any other determinative factor. It is your sole responsibility to inspect and investigate the items for sale. It is your responsibility to verify all specifications and measurements prior to placing a bid. It is your responsibility to determine condition, age, genuineness, value or any other determinative factor. FINAL SALE ALL SALES ARE FINAL. We are not responsible if you bid on the wrong item or decide an item is not suited for your intended use. 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. CHANGES SAM reserves the right to add, remove or re-catalog 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. REMOVAL Once an auction has ended, the items become the property of the winning bidder (buyer). You assume 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 items 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. You agree 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. You are solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, where applicable and without limitations, the responsibility for providing licensed and bonded professionals to ensure proper water, gas and/or power disconnections, and full financial responsibility for any damage or liability to persons or property resulting from any of you negligent acts or omissions or those of your employees, agents and/or contractors during pick-up and removal. You and your agents and contractors shall not unreasonably interfere with the seller's business operations in the Building. You agree that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, you will provide to SAM or the seller evidence reasonably acceptable to SAM that you or your representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Sam and the seller, their agents or representatives will not be responsible for containment, storage or removal of hazardous material. You must remove all purchased items. There is no right of abandonment. Failure to remove purchased items is a breach of contract. You are responsible for providing all labor, material, insurance (general liability for injury to person and damage to property in an amount not less than $2,000,000 for each occurrence) and equipment (fork lifts, dollies, ladders, tools, etc.) to properly execute removal and you shall comply with all applicable laws and regulations related thereto. SAM may, in its discretion, make removal equipment available for an additional fee. Before entry into the Building for removal by you or your agents, employees or contractors, you shall provide SAM with a Certificate of Insurance indicating the insurance coverage required by the preceding sentence and which shall provide that the seller be provided with thirty (30) days written notice prior to cancellation of such policy. In the event you fail to comply with any of the terms and conditions of the sale, SAM or the seller may collect damages from you. You agree to pay any and all charges and expenses incurred by reason of any breach of the terms and conditions of this sale, including, without limitations, reasonable attorneys' fees and reasonable attorneys' fees on appeal. In the event an item is not available for pickup, you must notify our onsite staff and file a claim by replying to your original emailed invoice noting what was not available within 24 hours of the pickup date. After 24 hours, SAM Auctions and buyer agree that no adjustment or refund will be made. LIMITED LIABILITY You acknowledge and understand that this service may or may not function correctly the day of the auction. Under no circumstances shall you have any claim against SAM if the Internet service fails to work correctly before or during the live auction. SAM will not be responsible for any missed bids from any source. 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 auction begins. The liability of SAM and the seller is limited to the refund of bidder's purchase price. CIRCUMVENTION You acknowledge and agree that you shall not circumvent or attempt to circumvent this auction process, engage in Collusion, or otherwise interfere with, interrupt or attempt to interrupt the auction or the operations of the Site (collectively, a “Circumvention Act”). Collusion is any agreement between bidders related to the bidding process. If SAM determines, in its sole discretion, that you have engaged, or attempted to engage, in any Circumvention Act, use prohibited automated technology or otherwise unfairly alter your chances of winning an auction, or to otherwise commit fraud with regard to the Site, then, in such an event, SAM reserves the right to institute civil or criminal proceedings against you and to report you to the relevant regulatory authorities. GOVERNING LAW AND JURISDICTION This Agreement is entered into in the State of Arizona and is governed by the laws of the State of Arizona and by the federal laws of the United States, without reference to conflict of laws principles. You agree to the exclusive jurisdiction in Arizona to adjudicate any dispute arising out of or relating to this Agreement or your use of our Site. You also expressly consent to personal jurisdiction in the state of Arizona for any such claims. UPDATES TO TERMS AND CONDITIONS Terms of Use updated as September 2015.