TERMS AND CONDITIONS
REGISTRATION: All prospective buyers are required to register prior to the Auction, or prior to bidding. A valid driver’s license is required to register. You will be furnished a buyer’s number at registration and by signing the registration form you are accepting all terms and conditions set forth below.
JUDGEMENT OF AN ITEM: All property sells “as is, where is” without warranty of any kind, expressed or implied. There are no warranties as to the quality, character or condition of any of the items. Please inspect equipment before bidding. The implied merchantability is expressly disclaimed. There is no warranty of fitness for a particular purpose. The buyer shall not be entitled to any adjustment or allowance, damages or any other remedy or claim on the quality, character or condition of any item purchased. Do not bid unless you have inspected the items and determined the condition for yourself. J.M. Wood Auction Co., Inc. is acting today solely as an auctioneer. J.M. Wood Auction Co., Inc. is not the seller, and therefore makes no warranty as to quality or condition of the equipment.
BUYER’S CATALOG: All descriptions and conditions of equipment in this catalog are believed to be correct and have been conscientiously set forth by the owner. However, neither the owner nor the Auctioneers are responsible for any errors in description or condition. The equipment is available prior to the Auction for inspection. The Buyers Catalog acts as a guide only. The Auctioneer does not guarantee year models, mileage or condition of an item. Meter readings or mileages in this catalog are not guaranteed and are merely a reading at time of check in. Buyer accepts responsibility to inspect and verify hour or meter readings by any means necessary prior to bidding. Auction Company is in no way responsible for any discrepancies of hour or meter readings. Any manufactures warranties stated in catalog are provided by seller to the Auction Company and has not been verified. Buyer accepts responsibility to verify any stated warranties with their local equipment or truck dealerships.
INSPECTION: The buyer agrees to rely on his personal inspection of the items in the Auction.
RISK OF LOSS: The buyer assumes full responsibility and assumes risk of loss for all items purchased from the time the Auctioneer says sold to the buyer. The buyer will obtain full liability insurance on all items as required by law.
PAYMENT TERMS: Every item must be paid for sale day and must be in US funds. Payment will be made by cash, cashier’s check or certified check. Company or personal checks must be presented with a bank letter (Bank letter must be current) guaranteeing payment to J.M. Wood Auction Co., Inc. Wire transfer with a twenty-percent (20%) cash or cashier’s check for deposit. Non-guaranteed checks must be replaced by a cashier’s check to J.M. Wood Auction Co., Inc.
TAXES & TITLES: All items are subject to state and local tax law. You may only use your Sales Tax # to cover purchases that apply under that number. All other purchases are subject to tax. We must have a copy of your Sales Tax Certificate. Failure to furnish this number will require payment of sales tax. Titles will be mailed within ten (10) banking days. No title drafts will be accepted. Tax rates for today’s auction are as follows:
· Construction & Vehicles 3.583%
· Forestry & Farm Equipment 3.083%
· Miscellaneous 10%
· Vehicles & Trailers Going Out of State for Title – 0%
OFFICE & AUCTION SITE HOURS: The auction site is open daily Monday - Friday from 8:00 am to 5:00 pm.
EQUIPMENT REMOVAL / CHECK OUT: Items may only be removed once a yellow “haul ticket” has been obtained at check out in the front office. All items must be removed from the sale site by the above stated time, or a $25.00 per day, per item storage fee will be charged.
AUCTION SITE: Buyer acknowledges that the auction site and anywhere the property to be sold is located or displayed is a potentially dangerous place. Heavy equipment is being operated, potentially dangerous materials may be present, electric circuits may be live, and other potential dangers may exist. Every person at the sale site (and other areas where the property is located or displayed) at all times shall be there at their own risk with notice of the conditions of the premises, the activities of the premises, potential conditions of the premises and the conduct of third parties and buyer shall so advise his agents and employees. No person shall have any claim against the Auctioneer, their agents, employees or principals for any injuries sustained or death to any person or persons whomsoever nor for damages to or loss of property which may occur from any cause whatsoever. Buyer acknowledges responsibility for any injury or death to any person or persons whomsoever or property damage caused by Buyer, his agents or his employees.
BUYER’S FEES FOR LIVE AUCTION OR INTERNET PURCHASES:
v An administrative fee of 10% will be charged on all items selling for $2500 or less. Internet buyers will pay this in addition to the 2.5% internet fee.
v An administrative fee of 2.5% will be charged on all items selling for more than $2500 with a maximum of $750 per lot. This fee is the same to onsite and internet purchases.