Location – 11650 199th street, Edmonton, Alberta

 

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Terms & Conditions Liquidation August 2010

 

1.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 CASE OF DISPUTE THE AUCTIONEERS DECISION SHALL BE FINAL.

2. 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”.

3. A) THE AUCTION COMPANY IS NOT LIABLE FOR ANY MECHANICAL DEFECTS FOUND ON ANY ITEMS PURCHASED. ALL GOODS ARE AVAILABLE FOR INSPECTION PRIOR TO THE COMMENCEMENT OF ANY SCHEDULED AUCTION AND DURING EACH SCHEDULED SALE. EACH PURCHASER SHALL BE HELD RESPONSIBLE TO SATISFY THEMSELVES AS TO THE IDENTITY, AUTHENTICITY AND CONDITION OF ITEM (S) AND/OR GOOD (S) BID ON AND SHALL NOT BE PERMITTED TO MAKE ANY OBJECTION AFTER THEY HAVE SUBSEQUENTLY BID ON AND PURCHASED ITEM (S) AND/OR GOOD (S) ON ANY GROUNDS WHATSOEVER. PLEASE INSPECT ALL ITEM (S) AND/OR GOOD (S) BEFORE BIDDING, “THE AUCTION COMPANY DOES NOT GUARANTEE THE YEAR, ODOMETER AND OR HOUR READING OF ANY ITEM (S) AND/OR GOOD (S) OFFERED FOR SALE”. B) ALL ITEMS OFFERD FOR SALE ARE SOLD ON A COMPLETE UNRESERVED BASIS AND ARE SOLD REGARDLESS OF PRICE TO THE HIGHEST BIDDER. THE AUCTIONEER RESERVES THE RIGHT TO SELL ITEMS IN GROUP LOTS. IT IS ILLEGAL AND A CONTREVENTION OF THE FAIR TRADING ACT FOR ANY INDIVIDUAL OWNER OR AGENT OF THE OWNER TO BID ON ANY ITEMS CONSIGNED ON BEHALF OF SAME IN THE AUCTION SALE.

4. A) THE FEDERAL GOVERNMENTS GOODS AND SERVICES TAX OF 5 % 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 10%, 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. B) A 15% HANDLING FEE PLUS G.S.T. IS APPLICABLE ON ALL PURCHASES. PLEASE BE CONSCIENCE OF THE HANDLING FEE (S) AND FACTOR THEM INTO YOUR BIDDING.

5.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.

6. 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 AND THEIR METHOD OF PAYMENT IS HONORED BY THEIR BANK AND OR FINANCIAL INSTITUTION. ONCE ANY ITEM (S) AND/OR GOOD (S) ARE PURCHASED THEY BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER.

7. BID SPOTTER AND OR INTERNET BIDDERS AGREE TO A) ALL INTERNET PURCHASES ARE SUBJECT TO AN ADITIONAL 5.0% (FIVE PERCENT) INTERNET FEE ON TOP OF THE PURCHASE PRICE AND THE 15 % HANDELING FEE. B) ALL PURCHASE PAYMENTS ARE TO BE MADE BY BANK WIRE TRANSFER INTO THE AUCTION COMPANIES TRUST ACCOUNT NO LATER THAN 2 BUSINESS DAYS FROM THE AUCTION DATE AND OR INVOICE DATE. C) U.S. PURCHASERS WILL ENJOY AN EXCHANGE RATE AT PAR OF THE DAY OF THE AUCTION. D) ALL PURCHASES ARE SUBJUCT TO THE PURCHASE PRICE, THE 15% HANDELING FEE, THE 5.0% FIVE PERCENT INTERNET FEE AND THE CANADIAN FEDEARAL GOVERNMENT 5% G.S.T. E) U.S.A. PURCHASERS MAY BE EXEMPT FROM PAYING THE CANADIAN FEDERAL GOVERNMENT G.S.T. IF THEY PROVIDE A BILL OF LADING FOR SHIPPING DIRECT POINT TO POINT TO THEIR U.S.A. PLACE OF BUSINESS. F) THE AUCTION COMPANY DOES NOT WARRANT COMPLIANCE OF ANY ITEM TO U.S.A. OR STATE REGULATORY STANDARDS, PLEASE USE THE SERIAL NUMBERS PROVIDED TO CHECK WITH A U.S. CUSTOMS BROKER TO ENSURE REGULATORY COMPLIANCE OF ANY ITEM DESIRED FOR PURCHASE PRIOR TO THE AUCTION SALE. G) THAT THE AUCTION COMPANY IS PROVIDING THE CONTRACTED SERVICES OF BIDSPOTTER.COM AS A CONVENIENCE TO PROSPECTIVE PURCHASERS AND IN NO WAY IS THIS TO BE CONSIDERD AN EXCEPTIONAL RIGHT, ANY DISRUPTION IN THE BROADBAND NETWORK AND OR PHONE LINES THAT MAY DISRUPT THE INTERNET BIDING SERVICE WILL NOT BE HELD AGAINST THE AUCTION COMPANY OR BIDSPOTTER.COM. THERE IS A POTENTIAL RISK OF BIDS BEING MISSED DUE TO SYSTEM LAGS THAT CAN HAPPEN IN REAL TIME AND ACKNOWLEDGE THIS RISK AND AGREE THAT THE AUCTION COMPANY OR BIDSPOTTER.COM WILL NOT BE HELD LIABLE IN ANY FASHION WHAT SO EVER. H) ALL POSITIVE AND NEGITIVE COMPLIANCE FEEDBACK WILL BE REPORTED TO BIDSPOTTER.COM

8. A) PURCHASE (S) MUST BE PAID BY CASH, INTERAC, 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. B) IF THE PURCHASERS CHEQUE IS ACCEPTED BY THE AUCTIONEER UPON PLEADINGS, THEN I HEREBY GIVE OSMAN AUCTION INC. OR THEIR NOMINEE A GENERAL SECURITY INTEREST IN THE VEHICLE (S) SUBJECT OF THE SALE AGREEMENT AND I AUTHORIZE OSMAN AUCTION INC. TO REGISTER THE GENERAL SECURITY INTEREST AT THE PERSONAL PROPERTY REGISTRY IN ANY PROVINCE IN CANADA IN WHICH THE VEHICLE IS LOCATED. THIS GENERAL SECURITY AGREEMENT SHALL BE FOR THE FULL AMMOUNT OF THE PURCHASE PRICE PLUS LEGAL FEES ON A SOLICITOR AND HIS OWN CLIENT BASIS FOR COLLECTION OF ANY UNPAID AMOUNT OF THE PURCHASE PRICE AND SUCH REGISTRATION SHALL BE IN EFFECT UNTIL DISCHARGE BY OSMAN AUCTION INC. OR ORDER OF ANY COURT HAVING JURISDICTION IN THAT PROVINCE. IT IS FURTHER UNDERSTOOD THAT THE TITLE TO THE VEHICLE (S) OR OTHER CHATTEL SHALL AND DOES NOT PASS UNTIL THE PURCHASE PRICE HAS BEEN PAID IN FULL. IT IS AGREED THAT THE PAID IN FULL ONLY HAPPENS WHEN OSMAN AUCTION INC. HAS RECEIVED THE FULL PURCHASE PRICE FUNDS FROM THE PURCHASER AND THOSE FUNDS HAVE BEEN FULLY NEGOTIATED BY THE ISSUER’S BANK OR OTHER FINANCIAL INSTITUTION WITH THE FUNDS BEING RECEIVED UNCONDITIONALLY BY OSMAN AUCTION INC. C) IN THE EVENT OF DEFAULT OF THE PURCHASE PRICE, I AUTHORIZE OSMAN AUCTION INC. TO TAKE IMMEDIATE POSSESSION OF THE SUBJECT VEHICLE (S) WITHOUT NOTICE AND WITHOUT FURTHER COURT ORDER AND TO HOLD THE VEHICLE (S) UNTIL EITHER PAYMENT IS MADE OR UNTIL ORDER OF ANY COURT HAVING JURISDICTION IN THAT LOCALE. 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 (1ST) OF EACH MONTH FOLLOWING THE SALE DATE AND EXPIRES TWELVE (12) MONTHS FROM PURCHASE DATE.

9. 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.

10. ITEM (S) AND/OR GOOD (S) PURCHASED AND PAID FOR BUT NOT REMOVED FROM THE AUCTIONEERS PREMISES WITHIN (5) FIVE BUSINESS DAYS FROM DATE OF PURCHASE MAY, AT THE AUCTION COMPANY’S 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 AND PURCHASER AGREES THAT THE AUCTIONEER HAS THE RIGHT TO COLLECT AND/OR SELL FOR SAME ON BEHALF OF THE CONSIGNOR AND AUCTION COMPANY.

11. OSMAN AUCTION INC IS NOT RESPONSIBLE FOR ANY INJURY OCCURRED ON THESE PREMISES.

12. THERE ARE ADDITIONAL NOTICES TO BIDDERS POST IN THE BIDDERS BID BOOK THAT WILL REQUIRE YOUR DIRECT ATTENTION. PLEASE MAKE YOURSELF AWARE OF ALL NOTICES TO AVOID ANY POTENTIAL MISSUNDERSTANDINGS. BY SIGNING YOUR AUCTION REGISTRATION YOU HAVE ACCEPTED AND WILL HOLD YOURSELF RESPONSIBLE FOR ALL THE TERM’S AND CONDITIONS CONTAINED IN THE AUCTION REGISTRATION.