2516 S. Sheridan Blvd.
Springfield, MO 65804
Tel: 417.861.6887
Fax: 417.881.4826
 
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Yellow Iron Auctions Terms and Conditions

  1. REGISTRATION REQUIRED: All buyers are required to register before placing a bid. All purchasers are required to give a full name and address. Yellow Iron Auctions, Inc. at its sole discretion, may deny registration to any person or entity.

  2. DEPOSIT: A Cash Deposit may be required to register if stated or may be required to continue bidding after a monetary threshold has been reached. Failure to make a required deposit may result in suspension of bidding privileges.

  3. SALES TAXES: All sales of non-road use vehicles are subject to Missouri Sales Tax unless you have a proper Resale Exemption Certificate or a Farm Exemption. A copy of the Resale Exemption Certificate or Farm Exemption must be provided at time of registration if you are a Dealer for Re-sale. This certificate must bear your company identification and a Sales Tax Permit Number. Without this information you or your company will be required to pay Missouri Sales Tax on all purchases.

  4. INSURANCE: The Buyer will obtain full liability insurance on all purchased property as required by law.

  5. BUYER'S PREMIUM, for on-line, proxibid: A 6% buyer's premium will be assessed for every item sold, and will be included in the final sales total.

  6. CREDIT CARD PAYMENT: Yellow Iron Auctions, Inc. reserves the right to charge your credit card for the full amount of your winning lot(s) plus any applicable sales tax and/or Buyers Premium if you have not made payment to Yellow Iron Auctions, Inc. on or before the final day of the auction checkout. Credit Card purchases over $1,000.00 and wire transfers are subject to a handling charge.

  7. RECEIPT: A receipt/invoice will be issued to the Buyer at the time of sale. This receipt/invoice must be presented to authorized personnel before any item can be removed from the auction site.

  8. INTERNET AND IN-PERSON BIDDING: The highest bid, whether submitted in-person or online, when the bidding closes will be the winning bid for that item.

  9. HIGHEST BID: All assets in the auction shall be sold to the highest bidder. Some items may be auctioned with minimum reserve prices, and/or subject to the sellers right of confirmation. On lots with a reserve the auctioneer reserves the right to bid on behalf of the seller. Yellow Iron Auctions, Inc., reserves the right to reject any bid that is only a minimal increase over the previous bid.

  10. ACCEPTANCE OF ITEM: The Buyer agrees to take possession of the item and to honor the winning bid.

  11. CONDITION: Bidders shall examine or inspect items prior to the auction. All items are sold AS IS, WHERE IS and with all faults, neither seller nor Yellow Iron Auctions, Inc. makes any warranty, express or implied, as to the nature, quality, value or of any item. Yellow Iron Auctions, Inc., and seller expressly disclaim any warranty of merchantability or fitness for a particular purpose. No allowance will be made for errors in cataloging, genuineness, defects, or imperfections not noted.

  12. RISK OF LOSS: The Buyer agrees to take full responsibility and assumes all risk of loss for all property purchased from Yellow Iron Auctions Inc. from the moment the item is sold. Buyer shall not hold Yellow Iron Auctions, Inc. or auctioneers responsible for loss or damage for any item purchased.

  13. DEFAULT CHARGES: If an auction transaction is defaulted on for any reason, Yellow Iron Auctions, Inc. reserves the right to charge the winning bidder a default fee. The default fee is 15% of the hammer price. Yellow Iron Auctions, Inc. and/or the seller reserve the right to pursue all legal remedies.

  14. SETTLEMENT: Yellow Iron Auctions, Inc. accepts the following methods of payment: cash, credit cards, or wire transfers. Personal and Business Check are accepted; however Yellow Iron Auctions, Inc. reserves the right to require a bank Letter of Guarantee, Guaranteeing Payment in Full, without condition upon Demand. Credit Card purchases over $1,000.00 are subject to a 5% handling charge. A $35.00 handling charge may be added to the purchase price of all titled vehicles. Cost of credit cards and wire transfers shall be added to the final bill before the items shall be removed from premises.

  15. EQUIPMENT REMOVAL DATE: No lot can be removed during the sale. All removal shall be at the expense, liability and risk of the purchaser, including disconnecting of utilities. If the purchaser does not remove an item within the announced check-out period, Yellow Iron Auctions, Inc. and the Seller may, at their sole discretion, deem the item to have been abandoned by the purchaser and the purchaser will have no further rights with respect to the item. Notwithstanding the foregoing, Yellow Iron Auctions, Inc. and the seller reserve the right to charge the purchaser for the costs of storage beyond the checkout period, and/or such said items may be resold at public or private sale, without notice, with all deficiencies and expenses charged to the defaulting purchaser. No Sunday removals!

  16. TITLES: All Titles and Registration Certificates will be mailed to the buyer within ten (10) business days of the day of the auction.

  17. UTILITY DISCONNECTS: The buyer is responsible for the proper and safe disconnection of all utilities including; engines, electricity, water, gas and air. Buyer ensures that no hazard will be created by disconnection, e.g. no exposed electrical wires, etc. All wires will be disconnected at the breaker in the utility breaker box. If an electrician, plumber or mechanic is required to disconnect purchased items safely, the buyer will bear that expense. In addition, if any damage is done to adjacent items in the process of disconnecting and/or removing purchased items by buyer, buyer will be responsible for reimbursing owners of those adjacent items for damages.

  18. LIABILITIES: Purchaser agrees to indemnify and hold harmless both Seller and Yellow Iron Auctions, Inc. from and against all claims and liabilities resulting from assets sold, including but not limited to: proximate or consequential damages, failure to comply with local, state or federal laws, and cost or legal expenses arising there from.

  19. CLAIMS: No claims will be allowed after the said item has been removed from the premises.

  20. PICKUP AND NON-DELIVERY: Neither Yellow Iron Auctions, Inc. or Seller shall be liable for non-delivery to any purchaser of any lot, other than for the return to the purchaser the sum paid on said lots should the purchaser be entitled thereto.

  21. TERMS: By obtaining a bidding number, each bidder represents and irrefutably warrants they shall not misrepresent their ability to close the transaction pursuant to the terms and conditions of sale. Any bid they make on an item constitutes an irrevocable offer to buy the item for the full amount of the bid. If bidder fails to make payment of bills in full, by the specified time, the auctioneer may retain all monies received as deposits or otherwise as liquidation damages. Immediate notification is required if a mistake is made in bidding, Buyer may still be held responsible for the bid.

  22. AUCTION SITE, SAFETY CONDITIONS: Bidders acknowledge that an auction site is a potentially dangerous place. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. Persons attending during preview, sale or removal assume all risks of injury, damage or loss of property and specifically release the auctioneer from liability.

  23. LOT CHANGES: Yellow Iron Auctions, Inc. may, in its discretion, offer the assets for sale by the piece or by the lot, or in any manner that best serves the interest of the Seller. The Seller has the right to add assets before the bidding, or remove assets from the auction either before or after bidding has been completed. In the event of a removal after bidding has been completed, the purchasers sole remedy shall be the refund of any purchase price actually paid.

  24. BID TRANSACTION: If the high bidder fails to complete the transaction, Yellow Iron Auctions, Inc. reserves the right to dispose of the asset in the best interests of the Seller. Any High Bidder that fails to complete a transaction will be held responsible for all damages resulting from that action.

  25. AUCTION RECORDS: The auction records kept by Yellow Iron Auctions, Inc. will be taken as final in the event of any dispute.

  26. SELLER-PRINCIPAL: Yellow Iron Auctions, Inc. is acting only as the Seller?s Agent and is not responsible for the actions of the Seller-Principal.

  27. NON-U.S. BUYERS: Purchaser agrees to comply with all applicable US export laws, and acknowledge that Yellow Iron Auctions, Inc. is not the exporter of any items. Certain items offered at the auction may constitute Restricted Technology. Under federal law, such items cannot be shipped outside of the United States. Yellow Iron Auctions, Inc. makes no representation or warranty concerning, and has conducted no investigation to ascertain which items, if any, constitute Restricted Technology.

  28. ASSET INFORMATION: Yellow Iron Auctions, Inc. relies on information about assets in the auction provided by the seller and undertakes no investigation of that information. Yellow Iron Auctions, Inc. shall not be responsible for the correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty therewith. Yellow Iron Auctions, Inc. will announce any additions to or deletions from the catalog on the day of the auction. The auctioneer assumes no responsibility for, and makes no representations or warranties concerning, descriptions of assets contained in marketing materials for the auction. It is the bidder?s obligation to verify such descriptions prior to the auction.

  29. DAMAGES-COLLECTIONS: Yellow Iron Auctions, Inc. shall be entitled to collect all damages, costs and expenses incurred in connection with collection of any amounts owed to Yellow Iron Auctions, Inc. by Purchaser, including without limitation any attorneys' fees.

  30. REVOCATION: Purchaser agrees that the purchase from Yellow Iron Auctions, Inc. occurs in Greene County Missouri. Any disputes between Yellow Iron Auctions, Inc. and Purchaser shall be governed by the laws of the State of Missouri without regard to the provisions thereof which concern conflicts of laws. Purchaser agrees that any controversy arising between the Purchaser and Yellow Iron Auctions, Inc. shall be litigated exclusively in Greene County Missouri. The state and federal courts and authorities with jurisdiction in Missouri shall have exclusive jurisdiction over all controversies which shall arise between Yellow Iron Auctions, Inc. and Purchaser. Purchaser irrevocably consents to service, jurisdiction, and venue of such courts for any such litigation and waives any other venue to which it might be entitled by virtue of domicile, residence or otherwise.

  31. LEGAL PROCEEDINGS: Purchaser hereby knowingly, voluntarily, and irrevocably waives any and all right to a trial by jury in any legal proceeding arising out of or relating to these terms.

  32. TERMS and CONDITIONS AGREEMENT: These Terms and Conditions contain the entire understanding of the parties hereto with respect to the subject matter addressed herein and supersede all prior agreements, discussions, negotiations and understandings between the parties hereto with respect to such subject matter.

  33. RIGGERS-MOVERS: Any type of outside contractors, including riggers and machinery movers, will not be allowed to work on the auction premises until they have provided Yellow Iron Auctions, Inc. proper insurance, protecting Yellow Iron Auctions, Inc., the Seller and the landlord from all and any claims resulting from their actions.

  34. UPDATED AUCTION TERMS: Any updated auction terms may be posted within the Yellow Iron Auctions, Inc. Website or send via email to active bidders.

  35. TEMPORARY SHUTDOWN: ANY Malfunction, Shutdown or Temporary loss of Service involving bidding for Items may render the results of the auction Void. In such an event Yellow Iron Auctions, Inc. reserves the right to remedy the situation in whatever way best represents the seller, including canceling the existing bids.

Leslie J. Mace, President, Yellow Iron Auctions, Inc.

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Yellow Iron Auctions, Inc.
2516 S. Sheridan Blvd.
Springfield, MO 65804
Tel: 417.861.6887    Fax: 417.881.4826
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