1. All bidders, and bidders who are agents of commercial buyers, MUST be registered with a valid ID in order to participate in the auction. All information provided to register as a bidder or buyer, will not be transferred to any third party entity with the exception of agencies of the government that may demand the information in the pursuit of their duties or through government contractual arraignments.
2. Bidders must be at least 18 years of age to register as a bidder and participate in the auction.
3. A $300.00 cash deposit MUST be paid at the time of bid acceptance. Please note, that the $300.00 deposit is non-refundable and non-transferrable on sold units. The bidder understands that the bidding on any unit/item/lot is not considered as "closed" until the winning bidder remits the required deposit and signs the purchaser agreement.
4. Registered bidders with tax exempt status shall include a copy of the tax exempt number form prior to auction registration.
5. All purchases shall be paid in full by the close of the next business day by cash, cashier's check, credit card (with a 3% up charge) or company check accompanied by bank's "Letter of Guarantee". Letters of guarantee (if required) must be presented prior to the auction. The term, "Paid in Full" includes the agreed upon purchase price with all taxes and fees. In furtherance, bidder understands that credit card payments are considered payment in full and are NOT refundable or transferable.
6. Midwest Auto Auction will not be held responsible, in anyway whatsoever, for any loss or damage to units/items/lots (also known herein as "Property") remaining on the premises after the units/items/lots have been sold. Further, all units/items/lots sold, must be removed by the purchasing bidder from the premises within three (3) business days after the auction has concluded. Any units/items/lots remaining after this time may be deemed by Midwest Auto Auction as ABANDONED PROPERTY and seized and all fees and deposits that have been paid forfeited. Midwest Auto Auction will reserve the right to allow the winning bidder a reasonable temporary extension if requested, and if deemed appropriate. Such an extension will only be granted by the President of the company or the President's designee in writing, and the winning bidder will agree to pay Midwest Auto Auction a $25.00 a day storage fee from the beginning of the fourth day and each day thereafter until the property is removed. In the event that bidder has not removed he unit/item/lot by the end of the granted time extension, Midwest Auto Auction will declare the unit/item/lot as ABANDONED and seize the property with all fees and deposits made by the winning bidder, and dispose of the property in any manner it deems fit; or the property will be offered for sale to the next highest bidder, whichever, is determined to be the most convenient to Midwest Auto Auction.
7. There will be a 14% buyers fee and $75.00 Document Fee applied on all purchases of units/items/lots being sold by a Governmental entity or agency. A Buyer's Fee, at a fixed rate of $200.00, and a $75.00 Document Fee, for a total amount of $275.00, will be applied on all other units that are sold and are not being sold by a Governmental entity or agency.
8. Announcements made by the Auctioneer on the day of the auction take precedence over any printed matter pertaining to the auction. Units/items/lots, which have been consigned to be sold at auction, will not be sold to any bidder unless the owner of the consigned property, or his agents, accepts the bid offered.
9.The Auctioneer shall designate the winning bidder after each unit/item/lot is auctioned. If a dispute arises between two or more bidders at the time the property is being auctioned or after the hammer has fallen, the Auctioneer will use his/her discretion to decide who will be the winning purchaser. If the Auctioneer cannot make a determination, the Auctioneer reserves the right to reopen the bidding process to all bidders present; or no sale the unit/item/lot to any bidder; or the Auctioneer may "No Sale" the unit/item/lot and remove it from the sale due to a refusal of the owner of the unit/item/lot to accept the highest bid offered or as a result of confusion, attempted fraud, manipulation of bids, bidder collusion, or any other reason the Auctioneer deems appropriate. Bidder fully understands that the decisions of the Auctioneer are final and bidder agrees to abide by all decisions of the Auctioneer.
10. Each unit/item/lot is sold "as is, where is" with all faults and defects. No warranties or guarantees to the condition or fitness of the use are stated or implied. All bidders understand that they are responsible for inspecting each unit/item/lot and that they are purchasing them entirely upon their own opinion. Each unit/item/lot will immediately become the responsibility of the buyer at the time the Auctioneer deems the unit/item/lot SOLD.
11. Bidder acknowledges that the auction area is a potentially dangerous place and that every person at the auction (before, during, or after the auction) shall be deemed to be there at their own risk. For their protection, all children under the age of 16 shall not be permitted on the auction property during the sale.
12. Any person who is found tampering with, removing, or disconnecting equipment, parts, accessories, keys, or in anyway attempting to sabotage a unit/item/lot will be suspended from the auction, ejected from the premises and prosecuted to the fullest extent of the law.
13. Bidder agrees to indemnify and hold harmless Midwest Auto Auction Inc., its Owners, Officers, Employees, Agents and Contractors from any and all liabilities, losses or expenses, to include all court costs and all attorney's fees, which may be incurred by Midwest Auto Auction Inc., as a result of their actions or inactions. Bidder further agrees that the Laws of the State of Michigan will have exclusivity in the enforcement of this agreement and that all legal filings for any redress by bidder will be in the 17th District Court of Redford, Michigan.
14. I have read and understand the aforementioned Auction Terms