If items are not picked up within two weeks of the scheduled removal times items will be considered forfeited and you will be charged a $25.00 restocking fee per item.
BUYERS PREMIUM: There is a 16% buyer's premium for auctions out of our warehouse, and an 18% buyer's premium for auctions located on site at the restaurant or store. The buyer's premium will be added to each purchase. If you bid $100.00 at check out you will be charged $116.00 (or $118.00) plus 6% sales tax. Buyer's who pay cash will receive a 50% discount off the buyer's premium. You must pay cash for the entire invoice or you will not be eligible for the discount. All items must be paid for and picked up on the designated pick up days to qualify for the discount.
PAYMENT: Invoices are sent out immediately after the auction closes. Buyers are given two specified pick up days to come in and pay for items. Credit Cards will be charged automatically after the closing of the last pick up day for ANY invoices not paid for. Credit Cards accepted are Visa, MasterCard or Discover. American Express cards will be accepted with an additional 3% fee of total purchase.
PRE-AUTHORIZATION: A $1.00 pre-authorization amount will be applied to your credit card for each auction you bid in. This charge is pending-only. This $1.00 charge is meant to verify your credit card on file and will drop off once the auction has ended. It will not post permanently to your account. If you have any questions, please e-mail email@example.com. If you feel this charge was mistakenly posted to your account, you must provide a bank statement showing that the charge was POSTED (not pending) to your account.
You must have the available balance on your credit card for the total amount of your online purchases.
Increasing your own bid/Bidding Errors: Please be aware that many bidders routinely increase their own bid to price an item out of reach of other bidders. You should immediately review your bids once submitted. If you mistakenly increase your own bid, place your bidder number in the bid field, or make a typo you must immediately contact our office by email. Use the contact sheet on our website (we must have your request in writing). We will not reverse bids after the auction has closed. NO EXCEPTIONS.
Staggered Ending: The online auction closes 3 items per minute. This feature will close the bidding on intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction.
Dynamic Closing: The closing time of an asset is automatically extended an additional 3 minutes whenever a bid is placed within the last 5 minutes of the asset's closing time.
Bid Notification: If you have been outbid you will be notified by email ONLY UNTIL the last day of the auction. ***Starting at midnight EST the night before the ending of the auction notices are not sent. To quickly review your bids and see if you have won, you can utilize the "review bids" feature. Items that have been outbid on will be clearly marked. Michigan Restaurant Liquidations & Auctions staff members reserve the right to bid on items in auctions.
Winning Bidder Notification: You will be contacted by email ONLY (you are responsible for checking your email). If you feel you have won an item and have not received an email you must notify us by email no later than 9 AM the next day.
SALES TAX: 6% Michigan Sales Tax will be collected.
IMPORTANT TAX EXEMPT STATUS: If you are tax exempt, prior to the conclusion of the online auction you must DOWNLOAD and EMAIL a copy of the appropriate states tax exempt form to firstname.lastname@example.org. You must include your bidder number and the closing date of the auction. Forms without this information will not be accepted and you will have to apply to the state for a refund.
CAUTION: For demonstration purposes, various equipment may be joined together. Do not assume a lot consists of more than one item simply because they are connected or pictured together. Please inspect the lot numbers and read the descriptions. When in doubt, use inspection days to view all items before placing a bid.
Catalog Inaccuracies: You are bidding on the described item not the photo. Occasionally the wrong photo is displayed - ALWAYS READ the item description.
WARRANTY & CONDITION OF ITEMS SOLD: All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied by the lot number affixed to the item. This sale is to the business community as "equipment" & "inventory" without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When in doubt of the condition or use of an item please bid accordingly. You are bidding on the described item not the photo. We strongly suggest to utilize the inspections days to view all items before placing a bid.
Bidders are responsible for their own removal of items. Any item NOT picked up by the set time will be considered abandoned. Removal shall be at the expense, liability, and risk of the purchaser. Purchases will be released upon presentation of a paid receipt. Please ensure that movers or anyone picking up items on your behalf have your paid receipt at the pickup location. No items will be released without a paid receipt.
IMPORTANT! Michigan Restaurant Liquidations & Auctions will have the option of reselling, removing, storing or abandoning, at the expense and risk of the purchased items not paid for and/or removed within the specific time. The buyer agrees to pay all deficiencies, legal, collection, transportation and storage expenses associated with delinquent accounts or abandoned items.
CHOOSE WISELY: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistakes. When in doubt about condition, completeness or suitability for intended use, please bid accordingly.
Michigan Restaurant Liquidations & Auctions, LLC reserves the right to add or remove items from the auction. Split or combine lots. Add minimum bids or reserve prices. Cancel, suspend, extend or reschedule an individual item and or auction event. Make changes to the auction closing times or inspection or removal times.
Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
Liability: Michigan Restaurant Liquidations & Auctions, LLC and Seller's liability shall be limited to the refund of bidders purchase price.
LIMITATIONS: The above-stated Conditions of Sale cannot be altered except in writing by Michigan Restaurant Liquidations & Auctions, LLC
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