Auction Terms & Conditions North American Auction Company, Terms and Conditions A. Conditions of Sale 1. This terms and conditions is a legal binding agreement between the bidder and North American Auction Company (hereinafter North American Auction Company will be referred to as Auction Co. and the user or persons will be referred to as bidder or buyer). 2. Bidders must be at least 18 years of age to participate or register in the auction. 3. Any bidders participating or registering for the auction agree to be bound by and accepts these Terms and Conditions. All bidders must meet the Auction Co. qualifications to bid. Any Bidder who is not in good standing with the Auction Co. may be disqualified or declined, with such determination made by the Auction Co. in its sole and unlimited discretion, at any time prior to, during, or even after the close of the auction. According to U.C.C. § 2-328 (3). Sale by Auction " U.C.C. § 2-328 (3). Sale by Auction: Such a sale is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale All items in this sale are offered subject to reserve according to the above statement. Auction Co. holds the rights to pass, sell, or hold the sale subject to seller confirmation on any and all items in this auction. 5. All property is sold AS IS where is with all faults, and neither the Auction Co. nor any consignor makes any warranties, representations, or guarantees either expressed or implied with respect to the property, and in no event, shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or as an assumption of liability. Details in the catalog are opinion and are written as an aid to potential bidders. Auction Co. acknowledges that there may be errors in what is listed in the catalog. Auction Co. strongly recommends that the Bidder has an acknowledged expert view the item. All bidders are required to physically or visually either in person, virtually, or by proxy inspect the items during the inspection and preview period for correctness, description, genuineness, authorship, attribution, provenance, period, culture, source, origin, and condition. The bidder will then rely entirely on their own inspection for any and all bids or opinions given without holding the Auction Co. liable for any and all statements made. All sales are final. There will be no refunds, no exchanges, and no partial refunds of any kind. 6. Auction Co. shall determine the highest bidder as the purchaser. In the case of a disputed bid, the Auction Co. shall have sole discretion in determining the purchaser from any of the bids left whether they be the highest bidder or not and may also, at the Auction Co. election, withdraw the lot or reoffer the lot for sale. The Auction Co. shall have sole discretion to refuse any bid, or refuse to acknowledge 2 | P a g e any bidder. The Auction Co. also holds the right to terminate the purchase for any 37 reason, even in the 38 event the bidder was given notice that he/she is the high bidder and purchaser, the bidder agrees that the Auction Co. may terminate the purchase or agreement, in which case the Auction Co.'s only liability shall be the return of the highest bid amount the buyer paid with exception to any and all extra cost including but not limited to buyer's premium and shipping. 7. Consent to Suit in Montana: In the event of legal proceedings arising from this contract or from the auction in connection therewith, the Buyer consents to being subject to the personal jurisdiction of the courts of the State of Montana. A Buyer also agrees and gives consent that venue shall be in Gallatin County, Montana and that the laws of the State of Montana shall govern this Agreement and the parties' transaction hereunder. 8. The Buyer expressly agrees to indemnify and hold the Auction Co., consignors and their assigns harmless from an against all claims, losses, expenses, damages or liability, (including but not limited to attorney's fees), directly or indirectly caused by or resulting from Buyers negligent acts or omissions or breech of this agreement, except for damages caused by or resulting from the Auction Co.'s sole negligence. 9. Item Removal: All merchandise purchased must be paid for and removed from the premises the day of the auction. Buyers who cannot for any reason be present on the day of the event are required to make prior arrangements with the auction company before bidding for time and date for removal of items suitable with the auction company. All merchandise purchased must be removed without damaging any property or altering any property in any way. All cost, responsibility of risk of such removal shall be subject to the Buyer or any persons on the Buyers behalf. The Buyer does not hold the Auction Co. liable for any damages or alternations made to the property after or during the announced removal period. If for any reason the Buyer fails to remove any of the merchandise purchased within the time specified, the Auction Co. shall have the right, in its sole discretion, to resell, discard, or remove and store said property at the Buyers sole risk and expense. Auction Co. may impose, and the Buyer agrees to pay, a 1.5% late charge added to the invoice and any storage expense in the event the items are not removed from the premises in the announced period, auction day Buyer agrees that paying any and all outstanding balances with the Auction Co. does not in any way relinquish them from any late fees or storage charges in the event the item has failed to be removed within the announced time. Storage fees will be charged to all items that have not been removed from the auction premise after the last item is sold on the day of the auction. Storage fees will be charged as follows, $10 per day, per item in additional to all and any additional cost including, but not limited to a late fee. In the event the storage cost and late fees have exceeded the items hammer price, excluding buyer's premium, the items will be considered abandoned and the Auction Co. will have sole possession of any and all items. The buyer agrees that any and all storage expenses and late fees are the sole responsibility of the buyer. 10. Titled Property: Buyers will be responsible for procurement of any plates and payment of taxes in their county and/or state of residence on all titled property. Titles will be released by the Auction Co. to the Buyer on the day of sale if the property is paid in full by Cash, Credit Card, or Wire Transfer. Payment 3 | P a g e made by Personal or Company Checks will result in the Auction Co. holding the title for 75 a minimum of 10 days or until the check clears, at which point the Auction Co. will release the title. 11. PAYMENT: All items must be paid in full prior to the removal of purchased or won lots. Auction Co. does not accept partial payments. Invoices are payable by cashier's check, cash or credit card (Visa, MasterCard, Discover, & American Express). North American Auction Company reserve the right to require payment on any invoice by wire transfer. All invoices over $4,000.00 must be paid by wire transfer. Do not bid if you are unable to pay invoices over $4,000.00 by wire transfer. Payment may also be made by Personal and Company In-State (Montana only) checks, out of state checks will not be accepted. All payments must be in U.S. Funds. No out of country (non-U.S.A.) checks accepted. Auction Co. reserves the right to charge the bidders credit card if the balance is not paid. 12. Packing and Shipping: Auction Co. is not responsible for the act or omission in our packing or shipping of purchased lots or for other carriers or packers of purchased lots, whether or not recommended by our company. Packing and handling of purchased lots is at the entire risk of the purchaser. B. Conditions of Sale of Firearms. 1. Any persons who desire to become a Bidder on any firearms are required to be 18 years of age for any long gun and 21 years of age for any hand gun. Auction Co. is a licensed and practicing Federal Firearms Licensed (FFL) dealer. Any Bidders who desire to bid on and purchase any firearms in our auctions cannot have been convicted of a felony, have any restraining orders, or have any reason that they would not pass a NICS FFL Background Check. Auction Co. holds the right to run a NICS FFL Background check on any purchaser. If the Bidder on a long gun is a current resident with correct identification from the states of Wyoming, Idaho, North Dakota, or South Dakota and are attending the auction, the purchaser can take possession of the long gun at checkout, only if the Bidder is approved by the NICS FFL Background Check. If the Bidder is successful on a hand gun and in any state other than Montana the firearm will be shipped to a Federal Firearm Licensed Dealer of your choosing nearest your residence. The Buyer agrees to take sole responsibility for shipping of any firearms, including the delivery of the FFL License of your choosing to the Auction Co. and all shipping/handling expenses. C. Conditions of Sale: Bidding 1. Live Bidding: The auction event will be held on site located at 4370 3th Street Bozeman, MT 59715 live onsite bidding will be available. onsite bidding is the most reliable and successful way to bid at our auction. Auction Co. advises any serious bidders to come to the live event as this will ensure the easiest transaction and give the Bidder the best opportunity to express their bids. 2. Telephone Bidding: Auction Co. offers Telephone Live Bidding for the auction event. Bidders wishing to be a telephone bidder at the time an item is being sold must contact the Auction Co. in advance to make arrangements. The bidder must contact the Auction Co. no later than 2:00 p.m. Mountain Time Zone the day preceding the sale to make arrangements to bid via telephone. If a bidder contacts Auction Co. after 2:00 p.m. Mountain Time Zone the day preceding the sale, Auction Co. cannot guarantee that the bidder's bids will be executed. Bidders are required to fill out the "Phone Bidder Request Form" 4 | P a g e located on our website under the Phone Bidding tab. Once the bidder has filled out 112 the Phone Bidder Request Form completely the auction company will then send the bidder the Telephone Bidder Terms of Service Document. Bidders understand that the Auction Co. is not responsible for any lost information or inability to contact the Bidder and that any form filled out on the Auction Co. website other than the Phone Bidder Request form will not be an acceptable request for phone bidding. The Bidder is then required to sign, scan, and email back the Telephone Bidder Terms of Service Document. Bidders can also fax the Telephone Bidder Terms of Service Document to Auction Co. at 800-686-4216. Once the document has been received by the Auction Co. then the Bidder will be entered into the Auction Co. system as a phone bidder. Auction Co. will then have a representative contact you on the telephone number the bidder has given the Auction Co. a few minutes or when the item is being sold. The Bidder can then tell the Auction Co. representative to bid on the bidder's behalf. Telephone bidders may also leave Phone Bidder Absentee Bids with the Auction Co. representative. Phone Bidder Absentee Bids are a verbal or written request to the Auction Co. representative to leave a max bid amount for the representative to bid on behalf of the Bidder. Bidders understand and acknowledge that the Auction Co. is not held responsible for any and all damages resulting in but not limited to the loss of telephone bidder's bids, misunderstanding of the bidder's amount, missed calls due to bad telephone connection. By becoming a telephone bidder, her/she understands and acknowledges they are taking on sole risk of any and all damages resulting in the telephone bidding. Telephone bidders also understand that any bid the representative places on behalf of the bidder is a guarantee of purchase and that the bidder agrees to purchase any items won on behalf of the Auction Co. representative at the representative's highest accepted bid. . Absentee Bidding: Auction Co. offers bidders absentee bidding approval to bid and that the Auction Co. has the right to refuse or decline any bidder without limitation. If the bidder is not able to bid live online or live onsite at the auction event the Auction Co. advises the bidder to leave the maximum bid amount the bidder is willing to spend on any given item. Bidding on any item indicates your acceptance of these terms and all other terms, written posted, or announced at the time of sale whether bidding in person, through a representative, by phone, by internet, or other absentee bid. All bids placed with the Auction Co. whether in person, through a representative, by phone, by internet, or by absentee bid are taken in full confidence and will not be shared or used incorrectly (Auction Co. DOES NOT bid on behalf of the consignor or share with any persons the confidential bids placed by any persons). Auction Co. will not be responsible for any errors or failures to execute bids placed (via absentee bidding without limitation including in person, through a representative, by phone, by internet, or other absentee bid) including without limitation, errors or failures caused by (i) a loss of connection to the internet or to any hosted software platforms; (ii) a breakdown or technical problem with any of the hosted software platforms; (iii) a breakdown or problem with a client's internet connection, mobile network or computer; (iv) the failure to relay the bids placed for any reason without limitation due to the hectic nature of the live auction event. Auction Co. is not responsible for any failure to execute an online bid or for any errors or omissions in connection therewith. Online bidding via all hosted internet platforms will be recorded. All bidding is subject to approval by the Auction Co. and Auction Co. Auctioneer representative at the live auction event. Auction Co. holds the right to refuse or decline or accept in any order the bids presented to the Auctioneer at the time of the live event. Bidders understand that all bids placed are considered and executed as Competitive Bidding. Competitive Bidding is allowing the Auction Co. to start the bid at the amount the Auctioneer will accept a bid regardless of any bidder's maximum bid. understand that due to the hectic nature of the live auction event that the Auction Co. and Auctioneer will not take into account the date at which any bid was placed (Example No.1: If the Auctioneer is asking all bidders for a $1,000 bid and a live onsite bidder in person, a bidder through representative, a telephone bidder, an internet live bidder from all of the five available hosted platforms, and an absentee bidder all at the exact same time bid $1,000, the Auctioneer will award the high bid solely at his discretion without limitations. Example No. 2: A bidder number 1 left an absentee bid of $1,000 on a lot. The auction event is in processes and the bidder number 1 is the highest accepted bid at $100 and the Auctioneer according to his sole discretion sets the bidding increments at $100 and then continues to call bids. The bidder number 1 is then accepted as the highest bidder at $900 and the Auctioneer ask for $1,000 and accept the bid from another bidder, bidder number 2, at $1,000. The Auctioneer then calls for any more bids at $1,100 and then sells the item to the bidder number 2. Since the original bidder, bidder number 1, was accepted at $900 and the Auctioneer has chosen $100 increments the next accepted bid must be $1,000 and bidder number 1 cannot bid again as the Auctioneer already has accepted his bid at $900. When the Auctioneer calls for $1,100 bidder number 1 no longer will show the Auction Co. representative any available bids and the item will be sold to bidder number 2). Auction Co. is not liable for any damages or responsible for selling the item to another bidder at your maximum bid amount without limitation. . By registering to bid or/and bidding on any item this indicates the bidder's acceptance of these terms and all other terms printed within, posted, and announced at the time of sale whether bidding in person, through a representative, by phone, by internet, or other absentee bid. Auction Co. advises 6 | P a g e any persons who does not fully understand and acknowledge the terms written herewith 206 to refrain from bidding in any manner. All bids left are an acknowledgement and agreement of these terms and a guarantee for all payment invoices on any successful or purchased lots including any additional expenses including but not limited to buyer's premium and storage cost and late fees when applicable.