EEW American Offshore Structures - Blast Systems • Compressors • Welding • Industrial Plant Equipment

IMPORTANT AUCTION TERMS

• All Items Sold AS-IS, WHERE-IS
• Inspection Strongly Encouraged
• 15% Buyer's Premium Applies
• Payment Due Within 24 Hours
• Removal Within 72 Hours, unless a later date has been scheduled with Auctioneer
• No Sales Tax
• All Sales Final
• Storage Charges After 7 Days
• Unclaimed Property Abandoned After 14 Days

AUCTION FORMAT

Timed Online Auction w/ Staggered Close:
Auction lots will close in a staggered format starting at 11:00 AM, approximately 30 to 60 seconds apart.

Bid Sniping Protection Enabled:
In the event a bidder places a bid in the final moments of bidding, the close of that particular lot will be extended approximately 30 to 60 seconds.

Auctioneer reserves the right to postpone, suspend, extend, or cancel the auction in the event of technical difficulties, system failures, internet outages, or other circumstances beyond Auctioneer's control.

BUYER PREMIUM

A 15% Buyer's Premium applies to all purchases made through the online bidding platform.

SALES TAX

No Sales Tax.

REGISTRATION

A valid credit card is required in order to confirm bidder identity and will remain on file.

PAYMENT

Final payment must be received within 24 hours of auction close. No items may be removed until the entire invoice has been paid in full.

Auctioneer reserves the right to resell a buyer's lots if full payment is not received by 3:00 PM on the day following the auction. Auctioneer may additionally assess storage charges, suspend bidder privileges, and recover all costs associated with collection, resale, storage, transportation, and reasonable attorney fees.

FORMS OF PAYMENT

We accept cash, cashier's checks, wire transfers, or credit cards (up to $3,000; a 3% processing fee applies to credit card purchases).

AS-IS, WHERE-IS

All items are sold "AS-IS, WHERE-IS" without warranty or guarantee of any kind, expressed or implied.

Descriptions, photographs, measurements, quantities, capacities, model numbers, serial numbers, dimensions, year of manufacture, condition reports, and other information contained in the catalog are provided as a guide only and are believed to be accurate but are not guaranteed.

Buyers are solely responsible for inspecting and verifying all information prior to bidding. No sale shall be invalidated by reason of any defect, inaccuracy, or omission in the catalog or advertising materials.

Photographs are provided for reference purposes only and may depict items not included in the lot being offered. Buyers are purchasing only those items specifically identified in the lot description.

Buyer is solely responsible for determining the location of purchased assets prior to bidding. Failure to review the auction location shall not relieve Buyer of any obligation to complete the purchase.

There will be no re-bids, rebates, returns, or adjustments after an item is sold.

PICK UP

Bidders are responsible for the safe removal of their items within 72 hours of auction close. Please speak with the Auctioneer if additional time is required.

Bidders are responsible for removing purchased lots in their entirety and leaving the removal area in broom-clean condition.

Purchasers shall be responsible for any damage caused during dismantling, loading, or removal operations and shall repair or reimburse Seller for any damage to buildings, structures, floors, walls, utilities, loading docks, fire protection systems, electrical systems, plumbing systems, pavement, landscaping, or other property resulting from removal activities.

Storage charges may be assessed for inventory not removed within 7 days of auction. After 14 days, items will be deemed abandoned by Purchaser and become the property of the Auctioneer without further notice.

Auctioneer may require certificates of insurance, naming Seller and Auctioneer as additional insureds, and may require the use of licensed and insured riggers, electricians, plumbers, or contractors for removal of designated assets.

ALL SALES ARE FINAL

No returns or adjustments will be made after the auction.

Bidders who elect to pay their balance by credit card understand that an additional 3% convenience fee applies and agree not to initiate chargebacks or payment disputes relating to purchases made in accordance with these Terms of Sale.

Buyer remains liable for all amounts due, including any fees incurred by Auctioneer in responding to payment disputes or chargebacks.

DISPUTES / DISCREPANCIES

The record of sale maintained by the Auctioneer shall be deemed final in the event of any dispute.

In the event the Auctioneer cannot release all or part of a lot, the extent of the Auctioneer's responsibility shall be limited solely to a refund of monies actually paid in connection with the affected lot.

Auctioneer records the sale by voice recorder and electronic bidding records.

No adjustments will be made to an invoice once inventory has left the premises.

LIABILITY

All persons attending, inspecting, loading, or removing merchandise assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer and Seller from any liability therefore.

Auctioneer and Seller shall not be liable by reason of any defect in condition of the merchandise or premises on which the sale is held.

Risk of loss and responsibility for purchased property shall pass to Buyer immediately upon conclusion of the auction, regardless of whether payment or removal has occurred.

Auctioneer, at its sole discretion, may require insurance, damage deposits, engineering review, lift plans, or the use of commercial riggers based upon the level of difficulty associated with removing particular assets.

GOVERNING LAW

These Terms of Sale shall be governed by the laws of the State of New Jersey. Any dispute arising from the auction shall be brought exclusively in the state or federal courts located in New Jersey.

ADDITIONAL TERMS

Additional Terms of Sale may be announced by the Auctioneer prior to or during the auction, and a bid signifies acceptance of all Terms of Sale as announced or published.