TERMS & CONDITIONS

GENERAL TERMS: The auction will be conducted by Iron Bound Solutions LLC dba Iron Bound Auctions, herein referred as Auctioneer on behalf of the owners of the property, referred to as the Seller. Auctioneer is not responsible for the acts or representations of Seller. The auction shall be governed by the terms set forth herein (the agreement), and any additional terms and conditions that are posted concerning the specific property. The Agreement constitutes a valid, binding contract between individuals participating in the auction with the intent to purchase property, referred to as the Bidder or Buyer, and Seller/Auctioneer. The term Bidder or Buyer shall include, but not limited to, the individual or the company represented by the individual and any and all of its agents, employees, representatives, officers, and directors. Auctioneer is not responsible for statements made by the Bidder, Buyer, or other parties. Auctioneer reserves the right to periodically change the terms and conditions of the Agreement, which shall be effective immediately upon posting. It is the Bidders responsibility to review any and all changes made to these terms and conditions prior to bidding on property. The act of submitting a bid shall constitute Bidder acceptance of each and every term and condition contained herein, any additional terms and conditions posted with the property, and any changes made within the full agreement.

PAYMENT: All purchases are to be “PAID IN FULL” within 72 hours, a 2% late fee will be charged if payment is not received in full within 4 business days of receipt of the invoice. Cashiers Check, Company or Personal Checks, Wire Transfers and most Credit Cards will be accepted as payment. Company or personal checks will be accepted with a “BANK LETTER OF GUARANTEE” from your Financial Institution. The buyer waives the right to stop payment on any check or monies given as payment. The Auctioneer reserves the right to hold any purchases until all funds have cleared the Auctioneer’s Bank.

REGISTRATION: All Buyers and Bidders must provide proper identification and register and receive a bidder number at each auction. Anyone bidding on behalf of a third party must also register to bid and will be held responsible and liable for all purchases. Buyers names are to remain confidential. The Auctioneer reserves the right to refuse any person a bidder number and may revoke the bidders’ privileges at any time.

SALES TAX: Buyer agrees to pay all applicable sales tax:6.25%, Texas 'TERP' tax of 1.5% on anything with Diesel 50HP or greater - Taxes may be removed if the buyer provides proof of exemption that is issued by the appropriate state or local government agency. Buyer also agrees to pay any sales tax that may be assessed after payment has been received.

NO WARRANTY/DISCLOSURES: All Sales are made and accepted “AS IS, WHERE IS, WITH ALL FAULTS” and without warranty or guarantee of any kind, either written, expressed or implied, as to merchantability or fitness for a particular purpose or otherwise. There are no warranties or guarantees as to year, make, model, serial number, condition, performance, and/or dotting & numbering, and/or digital slide production. All items are listed as accurately as possible and information is derived from sources deemed reliable. However, Buyer must inspect all items personally and accept with any faults or defects. Buyer in no way holds Auctioneer or Seller responsible for any defects, inaccuracies or errors in any way. All announcements sale day supersede any printed material. Your bid indicates you have previously inspected the lot and you know what you are bidding on. The Seller does have the right to make the final bid. The Auctioneer reserves the right, but has no obligation, to bid on behalf of the seller. Auctioneer reserves the right to withdraw, add or group the property from an auction.

AUCTION SITE: All Persons attending, inspecting or removing property assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer from all liability. Bidder agrees the auction site is potentially dangerous because of heavy equipment operation. Regardless of cause, Auctioneer or its agents will not be responsible for any injury to anyone at the auction site.

TITLES:

Texas Title Purchases: (a.)$100 Doc Fee for all vehicles & $150 Registration Fee on all motor vehicles under 11,000lbs (b.)$75 Doc Fee for all trailers & $125 Registration Fee on all trailers 4,000lbs-34,000lbs - All plates and/or sticker will be USPS mailed once registered

Out of the Stae of Texas Title Purchases: (a.)$100 Doc Fee on all motor vehicles & $75 Doc Fee on all trailers (titles will be USPS mailed). (b.)All titled purchases will be assigned to the name on the invoice(unless changes are made during the payment process)

Before any titled item is removed from the auction yard, buyer will need to provide driver license, proof of insurance and sign required documents. All titles will be transferred within 2 weeks, once the required documents have been rendered to Iron Bound Auctions. Once registration takes place, it will take an additional 3-4 weeks to recieve a State-issued title. Title transfer process WILL NOT moveforward without all proper documents - any missing paperwork exceeding 30 days, from date of purchase, will result in a 10% sales tax penalty fee.

BUYER’S PREMIUM: All purchases will incur a buyer’s premium of ten percent (10%) for on site bidders and ten percent (10%) for internet bidders, which will be added to the winning bid amount.

ONLINE BIDDING: In the event of a tie bid, floor bidders always take precedence. Auctioneer accepts no liability for any failure or delay in executing bids or any errors contained in bids via the online bidding service.

All purchases must be removed within 15 business days - After 15 days, storage fees of $25 a day per item will incur and any items left after 90 days will be considered abandoned and will belong to Iron Bound Auctions.

 

Johan Krahn

License # 17631