Any vehicle will not be released until good negotiable U.S. Funds reach seller. ie: travelers or cashier’s check, bank money order, or personal/company check accompanied by bank letter guarantee or bank letter of credit.
1. All bidders at auction must register for buyer's number and have these terms in his possession as a requirement for bidding.
2. All bidders must meet Auction Company credit requirements. Auction Company reserves the right to refuse to register or to accept a bid from any person, corporation, partnership, joint venture or other legal entity, which for any reason does not meet the sales terms or is deemed by iBid Auction, LLC as unacceptable.
3. Although statements prior to and during the sale by the Auction Company and Auctioneer have come from what is believed to be reliable sources, purchaser must understand s/he is buying property entirely upon his/her own examination and opinion.
4. Unless sale of each item is advertised or announced otherwise, each lot is offered subject to reserve price of seller. All sales will be conducted according to the Uniform Commercial Code.
5. At the fall of the auctioneer's hammer, ownership of lot passes to bidder designated by Auctioneer saying SOLD or otherwise declaring completion of sale. Thereupon the new owner assumes full responsibility of property and buyer agrees to the terms of this sale and further agrees to sign a confirmation of the purchase at the time of sale.
6. All articles, items, or vehicles shall be removed from sale area by the purchaser at his expense following sale and if not removed, Auction Company may remove property to nearby housing with all expense of moving and storage at the expense of the purchaser.
7. If the foregoing conditions or any other applicable conditions herein are not complied with by purchaser and in addition to other remedies available to Auction Company and Consignor by law (including the right to hold purchaser liable for the bid price), the Auction Company at its opinion may either do one of the following: cancel the sale and retain as liquid damaged all payments made by purchaser, or resell the property at once following a public announcement at this Auction sale or any sale of its choice. In any such event the purchaser shall be liable for any deficiency of the resale plus all costs for such reselling including storage cost of both first and second sales, the Auction Company commissions, and any other costs incurred.
8. Purchaser's Agreement: PURCHASER agrees to purchase Said Lot for purchase price of last bid plus buyer’s premium; that upon making settlement that NO stop payment of funds will be honored; and any stop payment order of check or giving a check which is returned marked “insufficient funds”; shall be deemed by the parties to be prima facie evidence of Fraud existing at the time the transaction was consummated and shall be construed by the parties as an intent to defraud in order to consummate the transaction.
9. Any announcement made sale day takes precedent over printed matter regarding conditions of cars and sales.
10. Auction Day Pay Policy: Applies to ALL BUYERS – All sales are required to settle within one hour after vehicle is successfully bid. All sales are AS IS & WHERE IS. The Auction Company is not part of any agreements of any kind between the buyer and seller.
IBID Auction, LLC does not assume and expressly disclaims responsibility for
any liability for injury to persons or loss or damage to property (including Autos) arising from the operation, service, maintenance, use, loading or unloading of participant's Automobiles and ancillary property brought into the show. Participants are expected to maintain insurance, which at a minimum meets or exceed the requirements of applicable Motor Vehicle Laws of New Jersey, and shall be completely responsible for insuring against loss or damage to their autos. Participants enter, exhibit and exit this event at their own risk IBID AUCTION, LLC, is acting as an agent for both buyer and seller, auctioneer is fully licensed and authorized to conduct the auction, but is not an employee of IBID AUCTION, LLC. Rather the auctioneers are independent contractors.