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Terms and Conditions

TMILive Terms and Conditions

AUCTION TERMS

  1. WARRANTIES: THE HIGHEST BIDDER (“Buyer”) AGREES THAT EACH ITEM OF PROPERTY IS SOLD “AS IS”, “WHERE IS” NO WARRANTIES EXPRESSED OR IMPLIED OF ANY KIND, NATURE OR DESCRIPTION INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, CONDITION (WHETHER OR NOT DISCOVERABLE), USABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AS TO BRAND, IDENTITY OR QUALITY OF THE UNIT, MATERIALS, COMPONENTS, OR WORKMANSHIP. THERE IS NO REJECTION OR REFUND.

  2. INSPECTION: The Buyer relies exclusively on a PRE-AUCTION PERSONAL INSPECTION of the PROPERTY and not on any other representations, advertisements, catalogs, or other documents made by Seller or Auctioneer.

  3. RISK OF LOSS: The Buyer takes delivery, assumes full responsibility and all risk of loss for said property, including but not limited to, loss from accident, theft, vandalism, fire, lack of security, malicious mischief, flood, windstorm, earthquake, lightning, and all ACTS OF GOD from the time the Auctioneer accepted the offer (highest bid) of the Buyer.

  4. EQUIPMENT REMOVAL: The Buyer agrees to remove the purchased property from this auction location as stated on the Auction Invoice. Should Buyer fail to so remove, Auctioneer or Seller may hire a transport and storage Entity to remove and store said property and all charges for such shall be the responsibility of and paid by the Buyer. The Buyer agrees to indemnify and hold harmless Seller, Auctioneer and its agents against all damage, liabilities, or claims or causes of actions arising out of said removal and storage. In addition to damages, interest, specific performance and/or other remedies at law, Buyer agrees that Auctioneer has the absolute right to repossess this purchased property until Buyer pays in good funds in full.

  5. SETTLEMENT: THE UNITED STATES AND STATE LAWS AND PENALTIES FOR A FAILURE TO SETTLE AND PAY SHALL APPLY. The Buyer agrees to make complete settlement on all purchases during or immediately after the conclusion of the auction on this date in U.S. Dollars or Bank Certified Funds or Equivalent, unless an alternative method is agreed upon in advance of the auction. SIGHT DRAFTS ARE NOT ACCEPTED.

  6. WIRE TRANSFERS: If you are paying for your purchase with a wire transfer, then at the discretion of Taylor & Martin, a $10,000 deposit must be wire transferred to us no later than 3:00 p.m. (central time) the day before the auction. Your deposit will be applied to your purchase. If you are not the successful bidder, your deposit will be refunded to you. For complete wiring instructions and any questions, please call 402-941-1011 or 402-941-1031.

  7. TAX, LICENSES: ALL SALES ARE SUBJECT TO THE SALES TAX AND/OR OTHER APPLICABLE TAX LAWS. Buyer is responsible for government issued licenses, safety and/or inspection certificates and agrees not to use any identification, trade name, licenses and/or certificates authorized to or used by the Seller.

  8. CERTIFICATE OF TITLE INFORMATION: The Buyer appoints Taylor & Martin, Inc., as its Agent to accept delivery of the State issued CERTIFICATE OF TITLE properly executed, with recorded liens thereon properly released, and to forward said TITLE to the Buyer via Certified U.S. Mail or equivalent as follows: (A) If Buyer pays in U.S. Dollars or U.S. Bank Cashier’s Check or equivalent, the Title will be mailed within three (3) working days or (B) if Buyer pays by Company or Personal Check or equivalent, the Title will be mailed in ten (10) banking days after the auction.

  9. INSURANCE REVOCATION, EFFECTIVE: THE BUYER HAS FULL LIABILITY INSURANCE ON SAID PROPERTY PURCHASED AS REQUIRED BY LAW. THE AUCTIONEER RESERVES THE RIGHT TO REVOKE ANY BID NUMBER AT ANY TIME.

  10. TRANSACTION FEE: There is a 2.5% Internet Purchase Fee charged on all online purchases up to $40,000.00 any purchases exceeding $40,000.00 will be charged a flat rate of $1,000.00 per unit. Taylor and Martin also charges a 2% Transaction Fee Internet Fees may vary please check each auction for specific terms.

  11. VERIFICATION: Due to increased enforcement of the Financial Privacy Act, banks have adopted restrictive guidelines to verifying funds. If you intend to pay by personal or company checks, we require a Letter of Guarantee or equivalent at or before the time of registration. If you register without a Letter of Guarantee or equivalent your purchases will be subject to verification and you may not receive immediate possession of your purchases.

AUCTION PROCEDURE

  • Prior to the auction, all prospective buyers are required to register.
  • The purchaser may make settlement at any time during the auction, but full settlement must be made immediately after the conclusion of the auction.
  • No equipment is to be removed from the auction site until full settlement is made.
  • The equipment may be inspected at any time, and all motorized equipment will be running prior to the auction.
  • T&M shall not be liable or responsible for any interruptions, termination or corruption of any audio feed, video feed or of any other internet registration, bidding or other online related service that occurs before, during or in connection with the auction sale, regardless of the cause of fault attributable to the interruption, termination or corruption of such services.
  • “This agreement will be construed and governed according to the laws of the State of Nebraska and any disputes arising in connection with this agreement and auction shall be subject to the exclusive jurisdiction and venue of the state and federal courts of Nebraska.”