The following legal mumbo-jumbo are the terms and conditions of the auction that our lawyers require us to put up.
A shorter version is as follows:
-We're not going to make you pay to look or bid. (No deposit for bidder number)
-We'll tell you what we know about the item, and what we've been told about the item, we're not trying to pull a fast one on anyone...but please, make sure you inspect the item so you are aware of what you are buying.
-If you buy something, we want you to pay for it-- that day--by cash, check or wire transfer (online is only wire transfer).
-We want you to pick up your items in a timely manner.
-There is a fee for buying. On the internet, there is a 7% buyers premium. At the live sale, there is a 5% buyers premium. Plan and bid accordingly. For example, if you buy something for $100, if you bought it at the live auction you'll pay $105; and if you bought it via the internet auction, you'll pay $107.
-There is a $35 administrative fee that apply to pieces requiring a title.
-We're trying to conduct business as honestly and genuine as possible. Please give us the same courtesy.
The complete terms and conditions are listed below. If you have any questions, we'd be happy to answer them. Please call us (712) 477-2105 or send an email to email@example.com.
1. Midwest Ag and Construction Auctions (“Auctioneer”) hereby grants to the Bidder the right to use the number shown on the Listing Catalog provided by Auctioneer to Bidder (the “Bid Number”) for the purpose of bidding at an auction sale on the date and at the location set forth in the Listing Catalog (the “Auction”), subject to these Terms of Bidding & Sale (the “Terms”). “Bidder,” as that term is used herein, means the party whose signature appears on the Bidder’s Registration Agreement, a party that bids at the Auction by absentee bid, a party that bids at the Auction online, and any other party that is assigned a Bid Number and uses that Bid Number to bid at the Auction. Any and all rights granted to Bidder pursuant to the Terms may be revoked by Auctioneer at any time in Auctioneer’s sole discretion. Auctioneer reserves the right to refuse to accept any bid by any Bidder in Auctioneer’s sole discretion. Bidder understands and agrees that the Bidder is responsible for complying with all Terms including but not limited to payment of all purchases by Bidder at the Auction, regardless of whether such purchases were made by Bidder for or on behalf of another party.
2. By making a bid, regardless of how such bid is made, Bidder acknowledges that Bidder has received, read, understands, and agrees to comply with and be bound by the Terms.
3. The Auction will be conducted by the Auctioneer putting up goods in lots, either as individual goods or as groups of goods (a “Lot”). A Bidder whose bid is accepted by the Auctioneer shall pay for the Lot and remove the Lot from the Auction site pursuant to the Terms. No Bidder shall retract or revoke Bidder’s bid for any reason once such Bid is accepted by Auctioneer. All sales of Lots are final.
4. ALL GOODS SOLD AT THE AUCTION ARE “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS.” THERE ARE NO GUARANTEES OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE GOODS. ALL WARRANTIES REGARDING SUCH GOODS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXCLUDED. SPECIFICALLY, BUT WITHOUT LIMITATION, AUCTIONEER MAKES NO REPRESENTATION OR WARRANTY THAT ANY OF THE GOODS CONFORM TO ANY STANDARD OR REQUIREMENT IN RESPECT TO SAFETY, POLLUTION, OR HAZARDOUS MATERIAL OR CONFORM TO OR COMPLY WITH ANY APPLICABLE LAW OR ARE OF ANY PARTICULAR AGE, YEAR, MAKE, MODEL, CONDITION, OR CONFORM TO ANY SPECIFICATIONS OF OR LITERATURE OR ADVERTISEMENT DESCRIBING THE GOODS.
5. No deposit is required to obtain bidder number.
6. Bidder shall pay Auctioneer the purchase price of each Lot in full on the day of the Auction unless otherwise previously arranged with Auctioneer. All payments shall be by cashier’s check, money order, company or personal check accompanied by an irrevocable bank letter of guarantee, or wire transfer payable to Midwest Ag & Construction Auctions. Bidder shall not be entitled to possession of any Lot purchased by Bidder at the Auction and shall not be entitled to the return of Bidder’s deposit until the total purchase price, including any applicable sales or use taxes or any other fees, for all Lots purchased by Bidder at the Auction has been paid in full. In the event Bidder fails to pay for the Lot or Lots purchased as set forth herein, Auctioneer may charge the Bidder interest at the legal rate, which in any event shall not be less than ten percent (10%), per annum on the balance owed.
7. Bidder shall remove all Lots purchased from the Auction site no later than 4:30 P.M. on the 4th day following the Auction, except that no Lot shall be allowed to be removed from the Auction site after dusk on the day of the Auction. Upon the acceptance of a bid on a Lot, the Lot shall become the sole responsibility of Bidder and Bidder shall bear all risk of loss regarding the Lot. Loading assistance may be provided by Auctioneer as a courtesy; however, Bidder assumes all risk, responsibility, and expense for loading and removal of Lots from the Auction site. Bidder shall use prudence in effecting such removal and agrees to obtain adequate and appropriate insurance coverage for any required dismantling, rigging, or hot cutting of Lots. Auctioneer shall not be responsible for loss, damage, or theft of any Lot purchased. Any loss, damage, or theft does not in any way relieve Bidder from paying the full purchase price for any Lot. In the event Bidder fails to remove the Lot(s) purchased at the Auction by the date and time set forth above.
8. Any payment received from Bidder, and any proceeds received from the resale of Bidder’s Lot(s) may, in Auctioneer’s sole discretion, be first applied to prior outstanding amounts due Auctioneer by Bidder. Nothing contained in the Terms shall be deemed or construed in any way to limit Auctioneer’s rights or remedies against Bidder. All of Auctioneer’s rights and remedies are cumulative, and the Terms shall not limit or preclude Auctioneer from taking additional action against Bidder or from seeking additional relief from Bidder to which Auctioneer may be entitled. All such rights and remedies are expressly reserved by Auctioneer.
9. Bidder acknowledges that, prior to bidding on any goods, Bidder had an opportunity to conduct an inspection of the goods to Bidder’s satisfaction and either conducted such an inspection or voluntarily decided not to conduct such an inspection. Bidder further acknowledges that Bidder did not rely on any representations or statements made by Auctioneer or any of Auctioneer’s employees or agents about the goods in deciding to bid on any goods. Bidder agrees to make any repairs to the goods purchased which are necessary to put the goods into good and safe operating condition and assumes all risk for and liability for damage or injury arising out of the operation of such goods.
10. Bidder, whether an individual or acting as a principal, agent, employee, officer, or director of a corporation, limited liability company, partnership, or other entity, jointly and severally agrees to:
(a) defend, indemnify, and save harmless Auctioneer, Auctioneer’s consignors, and their respective officers, directors, employees, agents, attorneys, and its consignors against and/or from any and all actions, causes of action, suits, damages, costs, expenses, including but not limited to reasonable attorneys’ fees, and losses of any nature, including injury and death, arising from the Bidder’s, Auctioneer’s, or Auctioneer’s consignor’s acts or omissions or the purchase or use of any of the goods purchased at the Auction, or the attendance or participation of Bidder, or Bidder’s agents, officers, directors, or employees, at the Auction and/or on the Auction site whether before, during, or after the Auction; and
(b) pay the purchase price, Auctioneer’s fees and/or commissions, any applicable Department of Motor Vehicles (DMV) fees, and taxes due on all Lots purchased by Bidder at the Auction.
11. The Terms shall be governed by and interpreted under the laws of the State of Iowa. Any action or proceeding filed by Auctioneer or Bidder for the enforcement or interpretation of these Terms or otherwise arising out of or relating to these Terms or the Auction shall be filed in the State of Iowa, County of Lyon. Bidder agrees that these Terms were entered into and performed in Iowa and that the exclusive venue for any such action or proceeding lies within Lyon County, Iowa. Bidder further agrees that Bidder is subject to the jurisdiction of the State of Iowa, Lyon County and waives any objection that it is not subject to such jurisdiction or that Lyon County is an inconvenient or improper forum.
12. Bidder acknowledges that an auction site is a potentially dangerous place. Flammable, noxious, corrosive and pressurized substances are present, heavy equipment is being operated, and electric circuits may be live. Every person at the Auction site at any time shall be there at his or her own risk without notice of the condition of the premises and the activities thereon and Bidder shall so advise his agents and employees. No person shall have any claim against Auctioneer, its officers, directors, agents, employees, principals, or attorneys for any injuries, damages, or loss of any kind, which may occur from any cause whatsoever while on the Auction site. All persons enter the Auction site at their own risk.
13. If the Bidder registered at the Auction under multiple Bid Numbers, all purchases under all Bid Numbers shall be subject to the Terms. If a Bidder possesses multiple Bid Numbers, all invoices must be paid in full as set forth herein before release of any Lots.
14. Auctioneer, at any time, and at its sole discretion, without notice or liability to Bidder may: (a) withdraw or cancel the sale of any Lot, or (b) offer any Lots in groups. Auctioneer may invalidate any sale for any reason and without notice or liability to Bidder and Auctioneer’s sole liability shall be the return of monies paid for the Lot by Bidder.
15. No Bidder shall bid on any Lot: (a) of which Bidder is the consignor or owner of the goods put up for auction; or (b) as agent, or associate, or on behalf of the consignor or owner of such goods.
16. Any dispute arising as to any bidding shall be settled by Auctioneer at its sole discretion and Auctioneer may put the Lot(s) in dispute up for sale again.
17. Auctioneer will deliver or make available to Bidder, at Auctioneer’s option; title to all Lots purchased free and clear of any liens or encumbrances within forty-five (45) days following receipt of full payment for all Lots purchased by Bidder. Partial payments will not allow title processing to begin. Title processing will begin only after full and complete payment for all Lots purchased has been made and funds have cleared. Title Documents will be prepared only in the state in which the Auction occurs. Bidder appoints auctioneer as attorney in fact to sign and complete all necessary title documents to transfer ownership as required by law. A document processing fee of not less than thirty-five dollars ($35.00) per Lot will be charged, in addition to all other amounts due hereunder, whether the Lot is comprised of one or more goods and irrespective of Bidder’s use or intended use of the Lot. If for any reason, Auctioneer is unable to make available or deliver clear title to any Lot, Auctioneer’s sole liability shall be the return of monies paid for the Lot by Bidder. Bidder expressly waives any and all claims for any damages or loss whatsoever against Auctioneer for Auctioneer’s failure or inability to obtain clear title for the Lot(s) purchased. Any such Lot(s) shall be returned or surrendered upon demand by Auctioneer to the location of purchase at Bidder’s sole expense, as a condition to Auctioneer’s obligation to return such monies.
18. Internet bidders will be charged no less than a seven percent (2%) internet buyer’s premium in addition to all other fees charged by Auctioneer. The live auction buyer's premium is five percent (5%), this means the total internet buyers premium isseven percent (7%).
19. There will be no less than a five percent (5%) buyer’s premium on all Lots. For example, if a lot is purchased for one-hundred dollars ($100) the total cost of the lot plus the five percent (5%) buyer premium would total one-hundred five dollars ($105.00). If the lot was purchased online for one-hundred dollars ($100) the total cost of the lot plus the seven percent (7%) buyer premium would total one-hundred seven ($107.00) dollars.
20.Buyer’s premiums and will be assessed on a per Lot basis and the fee amounts are printed in the sale day Listing Catalog. Please refer to the sale day catalog for applicable buyer fees.
21. The Listing Catalog has been prepared as a guide only, based on information from sources believed to be reliable and from the consignor(s) of the Lot(s); however, its accuracy cannot be guaranteed or warranted. No sale shall be invalidated nor shall Auctioneer, its officers, directors, employees, agents, or attorneys be liable as a result of defects or inaccuracies in the Listing Catalog.
22. Auctioneer will make every effort to provide Bidder with information that is deemed to be accurate but in no way guarantees the accuracy of the information. Any clerking error or omission, printing error or omission, serial numbers or description discrepancies including make, model or year, fuel type, engine type or any other error or omission made by Auctioneer shall not invalidate any sale of any Lot. Bidder acknowledges that it is Bidder’s sole responsibility to verify make, model, year, fuel type, serial number or any other information that a Bidder deems necessary and Bidder has satisfied all inquiries prior to any bidding.
23. Iowa sales tax does not apply for this sale.
24. If any provision of the Terms is held to be void or unenforceable, the remaining provisions shall remain valid and enforceable and shall be construed in such a manner as to achieve their original purposes in full compliance with all applicable laws and regulations.
25. Bidder may not assign any of the Terms without the prior written consent of Auctioneer. Any assignment or attempted assignment in violation of this provision is void.
26. The Terms are binding on and shall inure to the benefit of Auctioneer’s and Bidder’s respective successors and permitted assigns.
27. In the event either Auctioneer or Bidder files any action or other proceeding to enforce or interpret the terms of the Terms, the prevailing party in any such action or proceeding shall be entitled to recovery its reasonable attorneys’ fees and costs in connection therewith from the non-prevailing party.
28. The Terms may not be modified by Bidder without Auctioneer’s prior written consent.
29. The Auction may be recorded via digital audio and/or video recording.
“BIDDER’S REGISTRATION AGREEMENT”
BY USING THE BID NUMBER APPEARING HEREON AT THE AUCTION, THE UNDERSIGNED BIDDER ACKNOWLEDGES THAT BIDDER HAS RECEIVED, READ, UNDERSTANDS AND AGREES TO BE BOUND BY THE “TERMS OF BIDDING AND SALE” (“TERMS”)PRINTED ON THE INSIDE FRONT COVER AND BACK COVER OF THE LISTING CATALOG.