| TERMS AND CONDITIONS OF PUBLIC UNRESERVED INDUSTRIAL
AUCTION |
| THE BUYER AND SELLER AGREE THAT OSMAN AUCTION
INC. IS ACTING STRICTLY AS THE CONTRACTED AGENT BETWEEN THE BUYER
AND SELLER. THE AUCTIONEER RESERVES THE RIGHT TO ACCEPT OR REJECT
ANY BID AND IN THE CASES OF DISPUTE THE AUCTIONEER'S DECISION SHALL
BE FINAL. ALL GOODS ARE SOLD ON AN "AS IS WHERE IS BASIS". NO
WARRANTY EXISTS IMPLIED OR OTHERWISE IN RELATION TO ANY ITEM(S)
AND/OR GOOD(S) OFFERED FOR SALE UNLESS OTHERWISE ANNOUNCED BY THE
AUCTIONEER AT THE AUCTION SALE. DESCRIPTIONS PROVIDED ARE A GUIDE
ONLY AND "DO NOT CONSTITUTE A WARRANTY OR GUARANTEE ACTUAL OR
IMPLIED". THE AUCTION COMPANY IS NOT LIABLE FOR ANY MECHANICAL
DEFECTS FOUND ON ANY VEHICLE(S) OR EQUIPMENT PURCHASED. PLEASE
INSPECT ALL ITEM(S) AND/OR GOOD(S) BEFORE BIDDING. "THE AUCTION
COMPANY DOES NOT GUARANTEE THE YEAR OR ODOMETER READING OF ANY
ITEM(S) AND/OR GOOD(S) OFFERED FOR SALE". THE AUCTION COMPANY'S
REGULARLY SCHEDULED UNRESERVED INDUSTRIAL AUCTION SALES ALL ITEM(S)
AND/OR GOOD(S) OFFERED FOR SALE SHALL BE SOLD UNRESERVED TO THE
HIGHEST BIDDER. THE AUCTIONEER RESERVES THE RIGHT TO SELL ITEM(S)
AND/OR GOOD(S) IN GROUP LOTS. THE FEDERAL GOVERNMENT¹S GOODS AND
SERVICES TAX OF 7% WILL BE CHARGED ON ALL ITEM(S) AND/OR GOOD(S)
SOLD AND WILL BE REMITTED TO THE FEDERAL GOVERNMENT UNDER CURRENT
FEDERAL REGULATION GOVERNING THE GOODS AND SERVICES TAX. A MINIMUM
DEPOSIT OF THREE HUNDRED ($300.00) DOLLARS OR 10% WHICH EVER IS
GREATER IS REQUIRED ON SALE DAY ON ANY OR ALL ITEM(S) AND/OR GOOD(S)
PURCHASED. DEPOSITS ARE PAYABLE BY DIRECT DEBIT, CASH, VISA,
MASTERCARD. VISA AND MASTERCARD ACCEPTED TO A MAXIMUM OF THREE
HUNDRED ($300.00) DOLLARS FOR DEPOSIT PURPOSES ONLY. BALANCE OF
PURCHASE MUST BE PAID BY CASH, BANK DRAFT, CERTIFIED FUNDS OR
ELECTRONIC WIRE TRANSFER TO THE AUCTION COMPANY TRUST ACCOUNT.
PERSONAL AND COMPANY CHEQUES ARE ACCEPTED ON ESTABLISHED ACCOUNTS
ONLY. A CHEQUE WILL BE ACCEPTED IF THE PURCHASER PROVIDES AN
"IRREVOCABLE LETTER OF CREDIT" FROM THEIR BANK WITH CORRESPONDING
ACCOUNT NUMBERS FROM WHICH THE CHEQUE IS TO BE DRAWN ON. IF THE
PURCHASER'S CHEQUE IS ACCEPTED BY THE AUCTIONEER UPON PLEADINGS,
THEN THE PURCHASER CERTIFIES THAT THERE IS NOW A DEPOSIT TO THEIR
CREDIT AT THE BANK ON WHICH THE CHEQUE IS DRAWN SUFFICIENT FUNDS TO
MEET PAYMENT AND THAT SAID FUNDS WILL REMAIN AVAILABLE FOR PAYMENT
OF THE SAID CHEQUE UPON PRESENTATION TO THEIR FINANCIAL INSTITUTION.
SETTLEMENT IN FULL MUST BE MADE FOR ALL ITEM(S) AND/OR GOOD(S)
PURCHASED BY THE CONCLUSION OF THE NEXT BANKING DAY AND/OR BUSINESS
DAY FROM THE DATE OF THE AUCTION SALE BEFORE "ANY" ITEM(S) AND/OR
GOOD(S) ARE TO BE REMOVED FROM THE AUCTION PREMISE BY THE PURCHASER.
OWNERSHIP AND/OR TITLE TO ITEM(S) AND/OR GOOD(S) REMAIN WITH OSMAN
AUCTION INC. AS AGENT AND "DO NOT" TRANSFER TO THE PURCHASER UNTIL
ANY OR ALL ITEM(S) AND/OR GOOD(S) ARE PAID IN FULL BY THE PURCHASER.
ONCE ANY ITEM(S) AND/OR GOOD(S) ARE PURCHASED THEY BECOME THE SOLE
RESPONSIBILITY OF THE PURCHASER. THE LIABILITY OF THE AUCTION
COMPANY IS LIMITED TO THE SALE PRICE OF THE ITEM(S) AND/OR GOOD(S).
THIS LIABILITY SHALL BE REDUCED ON ACCOUNT OF DEPRECIATION BY 5% OF
THE GROSS SALE PRICE ON THE FIRST (1 ST) OF EACH MONTH FOLLOWING THE
SALE DATE AND EXPIRES TWELVE (12) MONTHS FROM PURCHASE DATE. IF THE
PURCHASER FAILS TO COMPLETE THEIR PURCHASE AND/OR PURCHASES THEIR
DEPOSIT WILL BE FORFEITED TO THE AUCTIONEER AND THE PURCHASER WILL
BE LIABLE TO THE AUCTIONEER AND SELLER TO SUE FOR AND COLLECT 30%
(THIRTY PERCENT) OF THE SELLING PRICE OF THE PURCHASE OR PURCHASES.
ITEM(S) AND/OR GOOD(S) PURCHASED AND PAID FOR, BUT NOT REMOVED FROM
THE AUCTIONEER¹S PREMISES WITHIN FIVE (5) BUSINESS DAYS FROM THE
DATE OF PURCHASE MAY, AT THE AUCTION COMPANY¹S DISCRETION BE SUBJECT
TO A STORAGE FEE OF TEN ($10.00) DOLLARS A DAY, ANY ITEM(S) AND/OR
GOOD(S) STORED AFTER THIRTY (30) DAYS, MAY AT THE OPTION OF THE
AUCTIONEER, AND AFTER NOTICE BY REGISTERED MAIL TO THE PURCHASER, BE
RESOLD AND STORAGE CHARGES DEDUCTED FROM SALE PROCEEDS. ANY SHORT
FALL SHALL BE THE LIABILITY OF THE ORIGINAL PURCHASER. BY SIGNING
YOUR BID CARD YOU HAVE ACCEPTED, AND WILL HOLD YOURSELF RESPONSIBLE
FOR ALL THE TERMS AND CONDITIONS CONTAINED IN YOUR AUCTION PURCHASE
AGREEMENT. THE AUCTION PREMISES IS A DANGEROUS ENVIRONMENT. THERE IS
EXHAUST AND NOXIOUS FUMES PRESENT. THERE ARE VEHICLES AND EQUIPMENT
IN CONSTANT MOTION IN OUR AUCTION YARD. PLEASE BE CONSCIOUS OF THIS
AND YIELD TO AUCTION STAFF OPERATORS WHILE IN ATTENDANCE ON THE
AUCTION PREMISE. OSMAN AUCTION INC IS NOT LIABLE FOR INJURY WHILE
PUBLIC IS ON THE AUCTION PREMISE. ALL AUCTION ADVERTISEMENTS ARE
SUBJECT TO ADDITIONS, DELETIONS, ERRORS AND OMISSIONS. ALBERTA
AUCTION LIC #169328 | |
