Sale Terms and Important Information

Important Note:  Most Items will be sold unrestricted. However, a limited number of items will only be sold to companies that are in the business of Pharma or Chemical Manufacturing. These limited number of items will be marked in the final Auction Catalog to be available and posted soon. All other items will be sold unrestricted.

Please Note: Removal Deadline for purchased equipment is: November 15th, 2013.
Payment schedule will be strictly enforced.

EQUIPNET AUCTIONS TERMS

TOTAL PURCHASE PRICE Payment is due upon successful bid(s). EquipNet, Inc. (“EquipNet”, or” EquipNet, Inc”.) will require a deposit prior to bidding of not less than $400.00 or twenty five percent (25%) of the Buyer's aggregate PURCHASE PRICE estimate with the balance due upon successful bid. This can be in the form of Visa or MasterCard. EquipNet, Inc. may contact bidders requesting credit card hold or wire transfer confirmation as a deposit. If no deposit is received upon request EquipNet, Inc. reserves the right to refuse or cancel Buyer's bids and re-sell Goods.

1. EquipNet charges a buyer's premium at the time of sale, which is an additional charge above and beyond the equipment bid. An 18% Buyers Premium and a 2% Internet Bidding Fee will apply at this sale. A 2% discount will be applied if payment is received by Wire Transfer/ACH (confirmed) within 3 business days of the close of the auction. Credit Card payments will be accepted for balances below $10,000.00. Wire Transfers will be required for balances exceeding $10,000.00.

2. All items unless otherwise stated are sold "AS IS, WHERE IS, WITH ALL FAULTS." There are no warranties made by EquipNet, Inc. or the Sellers(s) as to the merchantability or fitness for any specific or particular use. Equipnet has not created and will not create any express warranty to any bidder as to the condition, performance or value of any of the items, products or property being placed for sale that bidders may rely on.

3. Final Auction Bid Acceptance and Payment: All auction equipment is subject to internal redeployment, cancellation of listing, or other sale prior to formal acceptance of an auction bid by the seller. The formal acceptance of an auction bid is not final until an invoice has been sent, timely payment has been received in full, a visual inspection of equipment satisfactory to EquipNet, Inc. has been made prior to shipment release, and timely shipment arrangements acceptable to EquipNet, Inc. have been finalized. Only after the above conditions have been met will a sale be final. Members should not rely on other verbal or written forms of communication regarding bids. Payment in full is due within 1 business day from the time an auction invoice has been sent. If payment is not received in full within 1 business day from the time an auction invoice has been sent any and all bids made by the member may, at the sole discretion of EquipNet, Inc. may be deemed null and void and the transaction cancelled. If a member fails to pay for their purchase, cancels their purchase without just cause, or fails to remove their equipment as required EquipNet reserves the right to cancel the purchase and charge an administrative fee equal to 18% of the accepted offer in addition to the 18% Buyers Premium. Also, if payment is not received within 1 business day from the time an auction invoice is sent EquipNet, Inc. reserves the right to suspend or terminate a member’s account without further notice. If a member fails to pay because funds were returned or rejected, EquipNet, Inc. may charge a returned check fee of $100.00 as well as other fees and premiums mentioned above.

4. While the descriptions and information contained in the advertised material for this sale are, to the best of EquipNet, Inc. knowledge, believed to be correct. EquipNet, Inc. and Seller(s) will not be responsible for any deletions, discrepancies or inaccuracies. Any announcements made at the auction or sale via electronic email or otherwise will take precedence over any previous announcements, advertisements or distributed material. The sale of equipment is intended to be sold without software or other proprietary intellectual property including but not limited to manuals (“Software”), if any is applicable. In the event that Software is included as part of the equipment sale, notwithstanding the disclaimers set forth above, neither EquipNet nor the Seller make any representations or warranties regarding the Buyer’s right to use such Software, the performance of the Software, it’s non infringement or otherwise. In such circumstances, it is recommended that the Buyer contact the Software manufacture directly to secure a proper license and/or resolve any issues with its use prior to submitting a Bid.

5. Taxes will be added to the purchase price of all taxable items. Tax exempt buyers will need to present a valid tax exemption certificate or supporting document, otherwise their purchases will be subject to any applicable taxes as governed by local, county, state or federal law. Taxes can only be removed/refunded if the supporting documentation is provided timely. Tax exemption certificates or the supporting documents must be sent to EquipNet within seven (7) days of invoice date.

6. The removal period for purchased items will be posted on the website or announced via email or at the auction or sale. Cost and responsibility of removal within the removal period remains with the buyer. All items must be removed within the specified removal period or shall be deemed abandoned and resold by EquipNet, Inc. Positively no refunds or credits for shortages or claims relating to items won at auction will be considered after goods leave the seller's or seller's agent's premises.

IN SOME INSTANCES THE SELLER IN IT’S SOLE DESCRETION MAY ALLOW SELECT RIGGER / VENDORS ONTO THE SITE TO CONDUCT REMOVAL/RIGGING SERVICES AND AS SUCH BUYER UNDERSTANDS AND AGREES THAT AS A PART OF THE TERMS OF THIS AUCTION THAT ANY COMPANY RETAINED BY THE BUYER FOR EQUIPMENT PICK-UP / REMOVAL WILL NEED TO BE APPROVED BY THE SELLER AND WILL BE REQURED TO PROVIDE THE APPROPRIATE DOCUMENTATION & INSURANCE COVERAGE POLICIES AND FURTHER AGREES TO THE FOLLOWING INDEMNIFICATION:

EQUIPMENT PICK-UP & REMOVAL INDEMNIFICATION: To the MAXIMUM extent permitted by law, BUYER and/or BUYERS AGENT AS UNDERSIGNED indemnifies, defends and holds EQUIPNET INC. and the SELLER and all its affiliates harmless against any and all claims for liability and damage, including, but not limited to, reasonable attorney's fees arising out of any claim for personal injury, sickness, and, or, death to any persons and for any property damage caused by the transportation, and, or, the transfer of purchased equipment from or within the facility or to the dock including but not limited to the transfer of purchased material to the BUYERS vehicle including any or all vehicles of any company including but not limited to any rigging or transportation companies acting to transport BUYERS purchases whether or not such claims are based in part on the active or passive negligence or participation in the wrong or an alleged breach of a statutory duty or obligation on the part of EQUIPNET INC. and the SELLER. This indemnification is inclusive of residual or hazardous chemicals or other hazardous material on or in the purchased items, whether or not due to the negligence of EQUIPNET INC. and the SELLER or any affiliate, during the commencement of the dismantling or load out or other work by BUYER and /or any company including but not limited to any rigging or transportation companies employed by the BUYER to act as agent to transport for the BUYER. The word "persons" as used herein, shall be construed to imply both the plural and the singular, as the case may demand, and shall include corporations, companies, associations, societies and municipal corporations as well as individuals. BUYER AND BUYER’S AGENTS are solely responsible for safely rigging and securing all loads to their vehicles and, or, vehicles they designate to remove the equipment and or machinery from the premises. Any vehicle that is deemed to be unsafe in the sole discretion of EQUIPNET INC. and the SELLER will be denied access to the facility / Dock.

Bidder understands and agrees that load out services are not applicable to all auctions; further, if load outs are applicable as relating to any specific auction, load outs will ONLY include loading onto a single standard vehicle or flatbed and will NOT include loading to a container or multiple load outs to several vehicles unless arrangements have been agreed to prior to the event with EquipNet or the Seller.

As a part of the terms and conditions of the auction, and in consideration of receiving permission to enter on the premises Bidder hereby releases, waives all claims, assumes all risk, indemnifies and forever discharges Seller and Equipnet and its subsidiaries, officers, employees, agents, directors, servants, affiliated organizations and licensees from every and all claims that may result from my being within the perimeter of this facility.Bidder assumes the inherent and extraordinary risk involved in the activities associated with attending the auction inspection and auction event, and expressly assumes the risk of and accept full responsibility for any and all injuries (including death, and paralysis) and accidents that may occur as a result being on the premises.

Please be sure to read the Listing description carefully as ALL items sold are subject to a handling fee. Equipnet loading charges are figured using industry recognized box & pallet size calculations and as well as the weight of the purchased items. As such, oversized (extra wide/ long or excessively heavy items) may be designated as custom; and will be priced accordingly on the listing. Crating and additional packing services are optionally available please contact our Logistics team for a quote/more details.

**Please note Buyers of 5 or more lots may qualify for discounted handling charges. You will note these discounts on your invoice after the auction. Also, Buyers choosing to use EquipNet Logistics services may qualify for a discount. Please speak with your EquipNet Logistics representative AFTER you have paid for your auction purchases in full, about the possibility of discounts. Equipnet Logistics can be reached at 781-821-3482 x2504.

7. In making a bid the buyer agrees to comply with the terms and conditions as herein stated or additional terms as made or distributed via email or at the sale or auction. Failure of the buyer to comply with the terms and conditions will be treated as a breach and if applicable the deposit as made will be retained. Further, EquipNet, Inc. may resell any purchased item publicly or privately with the liability for any deficiencies and cost incurred to affect the sale remaining with the buyer.

8. EquipNet, Inc. reserves the right to combine single items into lots, add or delete items prior to offering the item individually. Bids, which in the opinion of EquipNet, Inc. are not commensurate with the value of the item offered, may be rejected. Where the Seller has a reserve on any item(s) EquipNet, Inc. shall have the right to bid the same on behalf of the Seller(s). All Online and Webcast auction sales are with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve EquipNet, Inc. may withdraw the goods at any time until the announced completion of the sale. EquipNet, Inc. reserves the rights to include assets from more than a single seller to be sold throughout the sale.

9. EquipNet, Inc. or Seller(s) shall not be held liable for any claims with respect to environmental problems arising out of hazardous materials which may be contained in items sold. Certain pieces of equipment may contain residual chemicals or elements. It is the Buyers responsibility to safely secure the purchased item in compliance with all applicable governmental safety standards in using, selling and transporting purchased items.

10. It is the responsibility of the buyer to obtain proper licenses or other appropriate paperwork where required to release the equipment from the facility or otherwise for the export of any items that are considered controlled commodities; restricted from export outside of the United States without proper export licenses.

11. Select items are subject to prior sale, redeployment or transfer. All bidders are advised to inspect each item individually or as a lot during the preview period prior to bidding. Buyers understand that inspection may be limited to website postings, images and descriptions.

12. All parties interested in bidding will be required to register prior to the sale or auction. A valid drivers license or other acceptable form of photo ID may be required at the time of registration.

13. Additional terms and conditions as posted on Internet Bidding site may supersede those listed above and such announcements may be made at the time of the sale or auction.

14. Arbitration. Any claim or controversy arising out of or relating to this Agreement, or the breach hereof, shall be resolved by final and binding arbitration to be conducted in Boston, Massachusetts, by one (1) arbitrator in accordance with and subject to the Commercial Arbitration Rules of the American Arbitration Association (the "AAA") then in effect. The arbitrators shall have no power or authority to add to or detract from the agreements of the parties or to award punitive, exemplary, consequential, special, indirect or incidental damages except. The authority of the arbitrators to award damages in any event is and shall be limited to the fees earned by EquipNet from the transaction in question. Notwithstanding the foregoing, the parties reserve the right to obtain injunctive or provisional relief to compel arbitration, enforce an arbitration award, and prevent disclosure of its trade secrets or violation of its intellectual property.

15. General. In the event that any provision of this Agreement is determined to be invalid, unenforceable or void, the parties agree to allow a court or arbitrator to replace such provision with a valid provision, which is as similar as possible to the provision replaced. EquipNet's failure to act with respect to a breach shall not constitute a waiver of its right to act with respect to subsequent or similar breaches. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without reference to provisions governing choice of law. Company hereby consents to exclusive and personal jurisdiction in the state and federal courts located in Suffolk County, Massachusetts. This Agreement (including the EquipNet’s General Terms, Buyer Terms of Service and/or the EquipNet Seller Terms of Service, as applicable) shall constitute the entire agreement between the parties as to the subject matter hereof. Nothing contained herein shall be deemed to constitute either party as the agent or representative of the other party, or both parties as joint.

EquipNet Inc, (“EquipNet”) provides a service (the "Services") that matches buyers with sellers of used equipment (the "Equipment"). As a result of its limited role, EquipNet has no control over the quality, compatibility, safety or legality of the Equipment offered for sale. These specific Auction Terms will become a part of and incorporated into the EquipNet, Inc. General Terms of Service, the current version of which can be found at www.equipnet.com (the “General Terms”). Accordingly, the term “Agreement” as used in the General Terms shall mean the General Terms plus these specific Auction Terms. All capitalized terms used and not defined in this Addendum will have the meanings given to them in the General Terms.