| By registering to bid
at this auction, you will be agreeing to the following
Terms of Sale. Please read the
terms because the terms may vary according to the auction:
Cash payment in full day of sale, in the form of U.S.
currency, or guaranteed funds in the form of cashier's checks or
certified checks, or by wire transfer to Auctioneer's escrow account.
Personal or company checks must be accompanied by bank letter
guaranteeing unqualified payment to Cotten Auctions if you are unknown
to us. Your bank letter should be similar to the following form: "Mr./Ms.
(Customer Name) is a customer of this bank. This bank will guarantee
unqualified payment to Cotten Commercial Auctioneers, Inc. on the
account listed herein up to the amount of $_________. This letter is
valid until (date)."
Bidders paying in currency in amount of $10,000 or greater
will be required to complete IRS Form 8300.
We often are asked how a bidder should bring cashier's checks when
the bidder does not know how
much he/she will be spending. If you bring cashier's checks made payable
to yourself in various increments, you can endorse them over to us and
we will refund any overpayment.
We no longer accept bank letters issued by Commerce Bank. We
do not accept credit cards or debit cards. We no longer accept "convenience" checks drawn on credit
cards since our bank will not process them.
A 10% Buyer Fee will be added to all
purchases on site.
All items are sold "as is" and "in place" and
"with all faults known and unknown". No property is to be removed until paid for in full. Please
settle with the cashier within 15 minutes after the close of the auction. The Auctioneer
and Owner or their designee reserve
the right to add to, split, bunch up, withdraw or delete lots, or bid on
Owner's or lien holder's behalf during the course of the auction
sale. Sales tax will be charged where applicable. Leased items, if any, are sold subject
to Lessor's approval. More detailed terms may be listed in auction day
catalog and on the back of your bidder registration card.
Absentee Bids: If you are unable to attend the auction sale, we can bid
for you. You must submit a blank check accompanied by a bank letter guaranteeing payment
to Cotten Commercial Auctioneers, Inc. in the amount of your maximum bid
plus the Buyer's Fee, if applicable. We will bid for you as if you are
actually present, however, we assume no liability to bidders for missed
lots where bids are not presented.
Inspection and Preview: Inspection from 8:00 AM on auction day. Although every effort has been
made to publish reliable information regarding the property to be sold, Cotten Commercial
Auctioneers, Inc. makes no warranty, expressed or implied, as to the accuracy of the
information contained herein. The description, measurements, model and
serial numbers, age, quantities, weights, condition, odometer or hour
meter readings as
outlined in the brochures and catalogs and invoices are believed to be
accurate, but are for merely for the Auctioneer's identification of the respective
items and not a warranty that such information is correct. For this reason the buyers should avail themselves of the
opportunity to inspect the property to be sold prior to the auction sale. Any
announcements made day of sale shall take precedence over prior advertising or printed
matter.
Removal of Purchases: All purchases must be removed from
the premises before Noon, June 30, 2008. All items are sold "in
place" with removal at purchaser's risk and expense. All purchases become the Buyer's responsibility at the time
of sale, and the Seller and the Auctioneer assume no responsibility or liability for loss,
damage, or injury to persons or property before, during, or after the auction sale.
Protect your purchases once the auctioneer says "sold". The bidder agrees to hold harmless, defend, and indemnify Auctioneer for
any personal injury or property claims resulting from attendance. This
provision shall include unregistered persons attending with bidder. Movers
and riggers must provide a valid certificate of insurance prior to dismantling any
equipment.
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