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TERMS AND CONDITIONS OF USE FOR INTERNET ONLY AUCTIONS Please read the following pages carefully, as they contain the Terms and Conditions of Use that will govern your use of the SAM Auctions Website. These Terms and Conditions constitute a legally binding agreement between you and SAM Auctions. Use of the SAM Auction Website at www.samauctions.com will be considered acceptance of these Terms and Conditions. It is your responsibility to carefully read these Terms and Conditions before using this Website. DO NOT BID IF YOU CANNOT AGREE TO THE TERMS OF THIS CONTRACT OR 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 SAM Auctions, Inc. "Seller": refers to the independent entity conducting or sponsoring the auction, including, but not limited to Auctioneers, Auction Houses or Auction Companies. Any terms or conditions listed for a specific auction will supersede those listed within the general terms in this agreement. Along with closing date and time, item inspection, location and removal times will also be listed for that specific auction. PAYMENT: By placing a bid, in the auction you authorize your credit card on file to be charged for total amount of purchases at the conclusion of the auction. It is your responsibility as the buyer to have available funds to pay for purchases. Accepted forms of payment include cash, Visa, MasterCard, American Express and Discover. A valid credit card must be kept on file with SAM Auctions at all times. SAM Auctions has the right to submit an authorization from time to time to ensure the credit card is valid. If the card becomes invalid, SAM Auctions will disable your bidding rights and they will not be reinstated until a valid credit card is provided. BUYERS PREMIUM/SALES TAX: A thirteen percent (13%) for credit card purchase’s and ten(10%) for cash purchase’s buyer’s premium will be added to each purchase UNLESS OTHER WISE STATED. If you bid $100.00, at checkout you will be charged $113.00 plus sales tax based on the location of the auction. If tax exempt, contact SAM Auctions to provide a valid tax exempt form. NO SALES TAX REFUNDS WILL BE MADE. BUYERS PREMIUM WILL VARY FROM AUCTION TO AUCTION, PLEASE CHECK EACH AUCTIONS TERMS FOR DETAILS. Buyers Premium may vary from auction to auction, please check information tab for further information. STAGGERED CLOSING: The online auction closes VARIOUS items per minute. This feature will close the bidding on intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction. DYNAMIC CLOSING: The closing time of an asset is automatically extended an additional 2 minutes whenever a bid is placed within the last 2 minutes of the asset's closing time. BID NOTIFICATION: If you have been outbid you will be notified by email ONLY UNTIL the last day of the auction --- starting at midnight ARIZONA TIME the night before the ending of the auction notices are not sent. To quickly review your bids and see if you have won, you can utilize the 'review bids' feature. Items that YOU have been outbid on will be clearly marked. WINNING BIDDER NOTIFICATION: You will be contacted by email ONLY (you are responsible for checking your email) If you feel you have won an item and have not received an email you must notify us by email no later than 9am the next day. If you do not receive a paid email invoice then you did not win any items at the online auction. In the event an item is not available for pickup, the buyer 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 agrees that no adjustment or refund will be made. 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/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 it will be the description and not the photo that will be the item won. If you feel there is a discrepancy or error between a listing and a photo, contact SAM Auctions for clarification and notification of error. WARRANTY & CONDITIONS OF ITEMS SOLD: All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied by the lot number affixed to the item. This sale is to the business community as “equipment” and “inventory” without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When not certain of the condition or use of an item, please bid accordingly. FINAL SALE: When you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistake. 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. SAM Auctions reserves the right to add or remove 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. Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. REMOVAL: Once an auction has ended, the items become the property of the winning bidder (buyer). Buyer assumes 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. The buyer agrees 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. SHIPPING: Shipping is handled auction by auction, please check each sales information tab for information. LIABILITY: SAM Auctions and Seller’s liability shall be limited to the refund of bidder’s purchase price. LIMITATIONS: The above-stated Terms and Conditions for SAM Auctions cannot be altered except in writing by SAM Auctions.