Buyer Agreement

And

Terms & Conditions

Please read the following pages carefully, as they contain the Terms and Conditions of Use that will govern your use of the TrueBid web site. These Terms and Conditions constitute a legally binding agreement between you and TrueBid. Use of the TrueBid web site at http://www.truebid.com will be considered acceptance of these Terms and Conditions. It is your responsibility to carefully read these Terms and Conditions before using this site. Note:  If you do not pay for your invoice, TrueBid reserves the right to charge you $500.00 to cancel the invoice. 

 If you do not wish to be bound by the Terms and Conditions contained in the following pages, please do not use the TrueBid web site.

TrueBid has the right to alter this agreement or these Terms and Conditions at any time. This may be done by updating the pages you are looking at now. Please visit this page periodically in order to check the changes that may have been made to these Terms and Conditions, particularly before you participate in an auction. Every time you use this site, you are agreeing to the Terms and Conditions as they exist at that time.

Termination. TrueBid expressly reserves the right to terminate the use of, or to refuse to permit the use of, the Services and the Website by any person or entity, at the sole discretion of TrueBid, for any reason and without notice.

Use of the Website

1.       "Buyer" shall mean the person or persons who register as such on the Web Site and are bound by this Contract and where the interpretation so requires any other person wishing to purchase the property and on whose behalf another person registers on the Web Site;

2.       Registration and Eligibility. The Services and the Website are only available to persons with the legal capacity to enter into this Agreement. TrueBid may, at its sole discretion, refuse to accept a person's (or entity's) registration, and may, at any time after accepting registration, refuse to permit a person's (or entity's) continuing use of the Services and the Website for any reason.

3.       A 12.5% buyer’s premium will apply to all purchases. 

4.      Each purchaser shall not be required to make a deposit upon registration, however, if you do not pay for your invoice, TrueBid reserves the right to charge you $500.00 to cancel the invoice.

5.       Buyer Conduct. In addition to the other obligations set forth herein, Buyer acknowledges and agrees that by placing a bid on an asset, Buyer represents, warrants and covenants (1) that it shall not misrepresent its ability to close the transaction pursuant to the terms and conditions of sale, and in accordance with these Terms and Conditions, (2) that it has the capacity to close the transaction, (3) that it has actual authority to enter a bid, and to enter into an agreement to purchase the asset, and (4) that any bid that it makes on an item constitutes an irrevocable offer to buy the item for the full amount of the bid.

6.       Improper Auction Behavior. All forms of shill bidding (bidding on an item that you have listed for sale), bid manipulation and collusion between Users are forbidden. Users may not make a bid under a false name or with an invalid credit card.

7.       No Relationship. User and TrueBid are independent contractors. Neither party is an agent, representative, broker, employee, partner or joint venture of the other party. This Agreement shall not be interpreted or construed to create an association, joint venture, agency, franchise or partnership between the parties or to impose any partnership obligation or liability upon either party.

8.       Users agree to keep their Bidder name and password confidential.

9.       When using this site you must obey all applicable federal, state and local laws. This site was created and will be operated from the United States. Any use of this site that violates any applicable laws will be grounds for discontinuing your rights to this site. 

10.   Users are prohibited from engaging in activity that compromises the TrueBid web site. Such activity includes hacking, worms, viruses, spamming, cancelbots, Trojan horses, mail bombing or crashing. 

11.   Users are prohibited from sending e-mails to other Users who have not requested them. 

12.   Any Bidder duplicating the web pages, modifying the site, or the content of the site, must have written permission, prior to his or her activity, from TrueBid.

13.   All use must be in accordance with the Terms and Conditions of Use as expressed at the time of use. All Bidders must comply with all TrueBid policies, including those stated in the Privacy Policy.

14.   Users shall not impersonate any other person or entity, or make any misrepresentation as to User's employment by or affiliation with any other person or entity.

15.   Taxes. Unless otherwise agreed in writing, User acknowledges and agrees that TrueBid is not responsible for the calculation of any taxes or the reporting or remittance of any taxes to any taxing authority, with the possible exception of sales taxes. User expressly agrees and warrants that it shall comply with any and all applicable laws and regulations, including without limitation, those with respect to taxes. Users agree to defend, indemnify, and hold harmless TrueBid from and against any and all damages, penalties, costs and expenses incurred by or imposed upon TrueBid resulting from any failure by User to comply with applicable tax laws.

General Terms and Conditions of Sale

1. By filing its application, the buyer/seller affirms that it is or acts for a business and has given correct information around its business and contact details as requested in the Company's Registration Procedure. The buyer/seller hereby warrants that all information will be true, accurate and complete.
2. Subject of amendments and modifications announced by the auctioneer at the time of the auction, any person participating in the auction shall be bound by the following terms and conditions.
3. Any and all announcements made on the day of the auction shall take precedence over previously distributed information.
4. All payments shall be made by way of cash, certified check, wire transfer and/or a company check accompanied by a bank letter of guarantee. Payment will be made payable to TrueBid, Inc. Prior letters of credit will be unacceptable as documents must be made expressly for this sale. Owner/seller shall make no exception to the above.
5. The auction sale is subject to local sales tax and shall be paid to the auction company at the time of the sale. Purchasers claiming exemptions must provide proof of exemption satisfactory to the auction company prior to payment. Purchaser shall pay taxes in the absence of satisfactory proof of exemption.
6. Purchaser is expected, before bidding, to view and inspect all the items he/she wishes to bid on. As a bidder, you are presumed to have personally inspected, before bidding, any property in order to satisfy yourself as to value, condition, size or any other requirement. Buyers risk – All purchases made at this Auction are at the buyer’s risk as soon as they are struck off and sold according to announced terms and conditions and the bulk and the individual item buyer are absolutely responsible for their bid in full until he or they are allowed to fulfill their obligation or be allowed to be released from same; the Auctioneer and their principal not being responsible if all or any part of such purchased be lost, strayed, stolen, damaged or destroyed from any cause whatsoever. All damages to buildings removal or partitions or walls or any other physical damage in any way whatsoever shall be repaired by buyer to the satisfaction of the seller, landlord, and for those of whom are proved to be of authority of premises at time of sale.
7. Auction/Bidding Time Extension: During the last few minutes of bidding, there may be an extraordinary flurry of bidding activity on an item. In order to ensure bidding integrity, and to prevent last minute bid "sniping" -- where a bidder waits until the final seconds to place a bid -- the site will automatically extend bidding in 10-minute increments until there is no additional bidding activity in a 10-minute period of time. At the end of the Extended time period, the item will be moved to a Closed status.
8. The auctioneer shall regulate all matters relating to the conduct of the auction. The auctioneer’s decision shall be final and binding on all bidders. Should any dispute arise between two or more bidders or as to any bid, the lot in question may be put up again and resold.
9. The auctioneer reserves the right to accept bids in any increment he/she feels is in the best interest of his/her client, the seller. The auctioneer reserves the right to reject the bidding of any person whose conduct, actions or adverse comments are not in the best interest of the seller and/or auction.
10. Absentee bidding will be permitted when possible as a convenience to our customers. The auction company will not be held responsible for any errors or failure to accurately execute bids.
11. The buyer hereby assumes and does agree to indemnify and hold the auction company and seller harmless from any current or future claim which shall pertain to the fitness, use, damage, safety, injuries to persons or property that may have been caused by or during the removal or use of item(s) purchased at the auction. Sale by estimated weight, count or measure – In cases where items or lots sold by estimated weights, counts or measures, the buyer will be billed for and required to pay for the estimated weight, count or measure. If there is an excess over the estimated weight, count or measure, the buyer shall be required to take such excess at the rate of purchase. In case of purchases for which settlement is required by estimated or actual weights, counts or measures, no adjustment will be made after the time allowed by the Auctioneer for the removal of the purchases. No adjustment shall be made on items sold by the lot. Claims & Statements – Statements, if any, by Auctioneer of goods are made true and correct as recommended by the seller. All legal action, if any, is to be taken against the seller and not the Auctioneer. The Auctioneer is an agent for the seller.
12. Placing of a bid constitutes acceptance of the foregoing terms of sale.
13. All items are sold as is, and all sales are final. Determination of the age, condition, quality, authenticity, value, purported history or classification of all items offered and sold (regardless of what is said or written) is the sole responsibility of the buyer/purchaser and under no circumstances can anything be returned.
14. Condition of Articles, Items or Other(s) Sold – The lots or other items sold shall be paid for in full before being taken away and shall be taken away at the buyer’s absolute risk and expense within the time announced (no exceptions) by the Auctioneer, the Auctioneer not being responsible for the correct description, genuineness, authenticity (believed to be correct and taken from sellers or reliable sources) of or defect in any lot and making no warranty in connection therewith and further disclaiming implied warranties. No sale will be set aside nor allowance made on account of any incorrectness error in cataloguing or any imperfection not noted. No deduction on damaged items since all goods are exposed for public exhibition and sold “AS IS, WHERE IS” and without recourse. Purchases will be allowed to be removed only upon completion of Auction and then only removed after all debts are paid and/or accounted for.
15. REMOVAL, EXAMINATION AND PAYMENT – No lot can or any account can be removed or settled for during the sale; and the full purchase money on all lots sold to the same buyer must absolutely be paid with the time fixed and before the examination, gathering or removal of the goods. Risk to person or of property – Persons attending during inspection period, during auction sale of and removal of goods assume all risks of damage of loss to person or property and hereby specifically relieves the Auctioneer and the Seller from any and all liability thereof. The time allowed for payment of debts and removal of goods is either printed in the catalog, printed in sale guide, announced by the Auctioneer, and/or published to the internet and can be obtained from the office of the Auctioneer. It is the bound duty of all buyers’s to inform themselves thereof and no responsibility shall rest upon the Auctioneer or auction company by reason of the buyers ignorance thereof. The Auctioneer shall have the right and option, but shall be under no obligation to remove and store at the buyer’s expense and risk, any lot not paid for and removed by the buyer within the time announced and allowed pending final disposition thereof or may be abandoned by all parties and NO responsibility will be assumed by seller or Auctioneer.
16. Compliance with Terms and Conditions – In addition to any other remedy given by law to the seller and to the Auctioneer, it is agreed that in case of failure by the buyer to comply with these terms, all money received may be retained by the Auctioneer, and that lots not paid for and removed with the time allowed under the terms may be re-sold at public or private sale without further notice and the first buyer is obligated and responsible for the full bid price of original sale price and for the difference, if any.
17. Responsibility for Non-delivery or Pick-Up – the Auctioneer will not be in event liable or (morally or otherwise) responsible for anything to any purchaser.
18. Addition to or withdrawal from the sale – The Auctioneer reserves the right to withdraw from the sale any of the property herein listed or to sell at this sale property not herein listed. The Auctioneer also reserves the right to group one or more items or lots into one or more selling lots or to subdivide lots into minus, one, two or more selling lots.