Proxy bid Definition

Tri State Fixtures Inventory Reduction Sale Day 2
Web Tips - Heritage Auctions

TERMS AND CONDITIONS This is a legal agreement between you, the user or buyer, and Surplus Asset Management, Inc. You should read this agreement carefully before accepting its terms. If you have any questions regarding the meaning or application of this Agreement, please direct your questions to: Surplus Asset Management, Inc. 4111 W. Clarendon Ave. Phoenix, AZ You must be at least 18 years old to bid. When you click on the Online Form to become a bidder, you will be redirected to and you must agree to the Proxibid Unified User Agreement. You are bound by the obligations of that agreement. In addition, by submitting the Online Form, you agree to these Terms and Conditions. DO NOT BID IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS OR YOU 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 Surplus Asset Management, Inc. “Seller” means SPECIFIC AUCTION TERMS Each auction listing will include a “Terms of Sale.” Any terms or conditions listed for a specific auction are in addition to these terms and, in the event of an inconsistency, will supersede these Terms and Conditions . Each specific auction will list the closing date and time, item inspection, location and removal times. By bidding on an item, you agree to those terms. PAYMENT The balance is due at the end of the auction once you are declared the winner of the final bid. Bidder number and photo identification will be required at the time of pick up. If you are the successful bidder, you authorize your credit card on file to be charged for total amount, which includes the bid amount, buyer’s premium and sales tax. If you elect to pay cash, you must notify SAM before the close of the auction. It is your responsibility as the buyer to contact SAM to verify receipt of payment if you have not received a paid invoice via email within 24 hours of submitting payment. Applicable state sales tax will be added to all purchases. TAX EXEMPT STATUS - If you are tax exempt, PRIOR to the conclusion of the auction you must email a copy of the appropriate states tax exempt form to If you have any questions, contact 877 726 2828 or email and include your bidder number. SAM or the seller of the items will retain this copy of the certificate for the sales records. If you are unable to provide a copy of this tax-exempt certificate at the time of purchase, you must pay all applicable taxes and seek refunds through appropriate government agencies. SAM will not provide a tax refund. FAILURE OF PAYMENT In the event of that you do not pay for the item purchased, including any protest or chargeback on any credit card used for the purchase, SAM will withhold delivery of the goods. You will lose any right, title or interest you have acquired and the merchandise shall revert and repossess to Sam or the seller without further notice to You. If commercially feasible, SAM will resell the items and recover damages from you for (a) any shortfall of the resale price below the price you agreed to; (b) all bidding fees paid by SAM; and (c) and all costs of storage. In the event that it is not commercially feasible to resell the item, SAM will recover damages from you for the full purchase price; (b) all bidding fees paid by SAM; and (c) and all costs of storage, moving and resale. BUYERS PREMIUM/SALES TAX A buyer’s premium of eighteen percent (18%) for credit card purchases and fifteen (15%) for cash purchases will be added to each purchase UNLESS OTHERWISE STATED. If you bid $100.00, at checkout your card will be charged $118.00 plus sales tax based on the location of the auction. If you elect to pay cash, you must notify SAM before the close of the auction. If tax exempt, contact SAM Auctions to provide a valid tax exempt form. NO SALES TAX REFUNDS WILL BE MADE. ONLINE BIDDING DURING LIVE AUCTION Online bids will be treated as a relayed bid during the live auction and will be executed against those of the live audience. In case of a dispute, the decision is at the auctioneer’s sole discretion. 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 or 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 the description of the item controls. If you feel there is a discrepancy or error between a listing and a photo, contact SAM Auctions for clarification and to notify us of the error. WARRANTY & CONDITIONS OF ITEMS SOLD All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied. Descriptions are believed to be accurate but not guaranteed. SAM will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. When not certain of the condition or use of an item, please bid accordingly. Property is open to thorough public inspection. Bidders who bid from off site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is your responsibility to determine condition, age, genuineness, value or any other determinative factor. It is your sole responsibility to inspect and investigate the items for sale. It is your responsibility to verify all specifications and measurements prior to placing a bid. It is your responsibility to determine condition, age, genuineness, value or any other determinative factor. FINAL SALE ALL SALES ARE FINAL. We are not responsible if you bid on the wrong item or decide an item is not suited for your intended use. 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. CHANGES SAM reserves the right to add, remove or re-catalog 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. REMOVAL Once an auction has ended, the items become the property of the winning bidder (buyer). You assume 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...


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