Welcome to AuctionsByGov. This website is operated by AssetNation, Inc., a Ritchie Bros. company (the “Company”) in association with Penton Media, Inc.
APPLICATION OF THESE RULES
Your use of this website is subject in all respects to the User Agreement (the "User Agreement") which must be accepted by you to be a registered user of this website. By agreeing to the User Agreement, and then subsequently using this website, you are agreeing to comply with these Website Rules. We may amend these Website Rules at any time by posting the amended Website Rules on this website. Your continued use of this website after our posting of any changes will constitute your acceptance of such changes. These Website Rules govern the use of this website by all users. However, some provisions of these Website Rules apply specifically to Buyers, and some provisions apply specifically to Sellers. You are a “Seller” if you are offering, or intend to offer, Items for sale through a Listing on this Website. You are a “Buyer” if you are submitting Offers on an Item in a Listing. In addition, you are subject to the Listing Terms for any specific Items on this website for which you submit Offers. In case of any conflict between the Listing Terms of any specific Items or Listings and these Website Rules, the specific Listing Terms shall govern. These Website Rules and any Listing Terms are intended to be for the benefit of the Company, Buyers, and Sellers.
- LISTING REQUIREMENTS
When a Seller lists goods, equipment or assets (“Items”) for sale on this website, the Seller represents and warrants that the Seller has the authority to sell such Items, free and clear of any liens, claims or other encumbrances. Any Item that is approved and published on the website is referred to as a “Listing.”
Buyers and Sellers are responsible for compliance with all applicable statutes, laws, rules, regulations and ordinances, including without limitation, those pertaining to licensing, title transfer, emission standards, registration, and import/export.
The Company reserves the right to conduct searches or use other means available, as deemed necessary by the Company, for the disclosure of liens and encumbrances, and to contact creditors to determine amounts of any liens and encumbrances claimed against the Items. However, in no case shall the Company have a duty to conduct such searches, nor shall the Company be responsible for the result of any such searches. The Company will not accept an Encumbered Item to be published on the website as a Listing, unless the Seller first provides to the Company (i) a payoff letter from the lienholder authorizing the sale and acceptance of responsibility to release the lien after the sale, (ii) a Seller Document Administration Fee, as described below, and (iii) an Asking Price that is sufficient to cover the payoff amount and any additional fees or commissions owed to the Company. Notwithstanding any other provision of these Website Rules to the contrary, no Seller may reduce the Asking Price for an Encumbered Item below an amount sufficient to cover the amount of all outstanding liens and the Seller Document Administration Fee and any additional fees or commissions, unless the Seller has deposited with the Company such additional amounts as may be required to satisfy all outstanding liens and the Seller Document Administration Fee and any additional fees or commissions.
Items, the ownership of which is evidenced by a title, certificate of title or similar document (which will be collectively referred to as “Title Document”), whether or not mandated by any applicable law, will be referred to as “Titled Assets.” For Titled Assets, the Seller must provide to the Company a legible copy of the Title Documents, satisfactory to the Company in its sole discretion, prior to the Company’s acceptance of the Item to be published on the website as a Listing.
Sellers are not permitted to advertise Items in a Listing that are not offered for sale in that Listing or in another Listing posted contemporaneously on the website. Prohibited activities include, but are not limited to, offering additional quantities of an Item or additional Items to a successful Buyer to be purchased outside of the website. The Company reserves the right to remove from the Listing information any advertising or solicitation for any Items that are not included for sale in the Listing or in another Listing posted contemporaneously on the website.
A Seller further agrees to use commercially reasonable efforts to supply accurate information for each Listing, and will be solely responsible for the Listing information that a Seller provides. From the information a Seller provides regarding a Seller’s Items, the Company will prepare and send the Seller the Listing for the Seller’s review prior to posting on this website, and if no response is received from the Seller within twenty-four (24) hours after being sent, the Listing will be deemed to be approved by the Seller, and the Company may publish the Listing to the website for the purpose of soliciting Offers. A Seller agrees that they will not operate or modify the Item, or permit anyone to operate or modify the Item, in any manner, after the Listing is published to the Website that could make inaccurate the information that the Seller provided for each Listing.
“Listing Period” means that period of time during which a Listing has been published to the website and is available for Buyers to submit Offers. A Seller agrees that during the Listing Period the Seller will not remove the Items from the Listing. If, for any reason, a Seller refuses to complete the sale of a listed Item, they will be subjected to the Seller Default Penalty Fee described below.
During the Listing Period, the Seller may not change the Listing without the Company’s approval. In very limited circumstances, the Company may permit Sellers to add additional non-material descriptive information, such as pictures or text, or correct inaccuracies, which do not materially change the original Listing. If material changes are needed to correct inaccuracies in a Listing, however, the Listing will be terminated and subsequently re-listed as appropriate.
Notwithstanding the foregoing, the Company reserves the right to permanently withdraw any Listing from the website at any time for any reason at its sole discretion.
Every Buyer and Seller will have an opportunity to review and accept the fees that they will be charged. The Company may change its fees and penalties at any time; provided that no such change will affect any Listings that exist at the time of the change. Unless otherwise stated, all fees are quoted in U.S. dollars. You are responsible for paying all fees and penalties associated with using our service and this website as well as all applicable taxes. The Company reserves the right to use a collection agency to collect any outstanding fees, penalties, and other applicable charges, including any costs of collection, and other amounts owed to the Company, and to report any unpaid payments to credit reporting agencies.2.1. Sellers2.1.1. Seller Commission Fee
For Items sold by a Seller on the website, the Seller will pay the Company a commission (deducted from the escrowed Purchase Price) as agreed to by the Seller. “Purchase Price” means the accepted Offer for an Item.2.1.2. Seller Listing Fee
For any Listing submitted by a Seller, the Company may charge the Seller a non-refundable Listing fee, which must be paid by the Seller prior to submission of the Listing to the Company.2.1.3. Seller Document Administration Fee
The Company may charge the Seller a fee to assist in the payoff of any outstanding liens or encumbrances against an Item. This fee must be paid by the Seller prior to the approval and publishing of the Listing to the website.2.1.4. Seller Default Penalty
The Seller will pay the Company a Default Penalty Fee of 25% of the Asking Price of the Listing or of the high Offer, whichever is greater, with a minimum of $100 per defaulted Listing, if (i) the Seller removes the Item from the Listing during the Listing Period, or (ii) the Seller removes the Item after an Offer has been accepted, or (iii) the Seller has misrepresented the information provided in the Listing.2.2. Buyers2.2.1. Buyer’s Premium Fee
For any Listing for which the Buyer’s Offer is accepted, the Buyer agrees to pay the Company a Buyer’s premium that is either (1) a percentage of the Purchase Price for such Items or (2) a flat amount. The Buyer’s Premium Fee for each Listing is disclosed either in the Listing Terms for the Listing or in the Buyer’s Offer confirmation box when the Buyer enters an Offer for the Item.2.2.2. Buyer Late Fee
If the successful Buyer does not pay the Purchase Price, Buyer’s Premium Fee, and other fees and amounts (including taxes, if any) to the Company by the specified deadline, then, in addition to any other remedies available to the Company or to the Seller, the Buyer must pay to the Company a late fee that will be shown on the invoice.2.2.3. Buyer Default Penalty
A Buyer will be placed in Default for failing to comply with the Listing Terms, the User Agreement and these Website Rules, and must pay the Company a Buyer Default Penalty. Specifically, but without limitation, a Buyer will be placed in Default for (i) failure to make full payment of the Purchase Price, the Buyer’s Premium Fee, and the Buyer Late Fee if applicable, and any other related fees and taxes, if applicable, within five (5) business days after acceptance of the successful Offer, or (ii) failure to either remove the Items or assume control of the Items by the Removal Deadline stated in the Listing Terms. Pending payment of the Buyer Default Penalty, the defaulting Buyer will be barred from placing an Offer on any other Listings on this and any other affiliated website operated by the Company. The defaulting Buyer may be subject to other claims, damages and liabilities to the Seller and to the Company. The Buyer authorizes the Company to withhold any default penalties and other applicable charges from monies previously paid by the Buyer, at Company’s sole discretion. Buyers that are placed in Default on three (3) separate occasions in a twelve (12) month period may be subject to a one (1) year ban from placing an Offer on any Listing on this and any other affiliated website operated by the Company. Notwithstanding the foregoing, the Company, at its sole discretion, may permanently ban or deactivate any Buyer for any reason.
The Buyer Default Penalty will be 10% of the Asking Price or the accepted high Offer, whichever is higher, of the Listing, with a minimum of $100 per defaulted Listing and a maximum of $2,000 per defaulted Listing.
- PROCEDURES FOR SUBMITTING AN OFFER ON A LISTING3.1. Online Negotiation Format
During the Listing Period, Buyers are invited to submit Offers for listed Items. Buyers can only submit Offers higher than Offers already made. Buyers may not submit Offers that include changes to the Listing Terms or other terms of sale. The leading Offer amount, next minimum Offer required and a detailed Offer history for the Listing is displayed to the public. For any completed Listing, the successful Offer is displayed, but the successful Buyer's identity is not publicly disclosed on our website.
For each Listing, the Seller may publish an “Asking Price.” The Seller is obligated to accept the highest Offer that meets or exceeds the Asking Price and to complete the sale.
For each Listing, the Seller may publish a “Buy It Now Price.” If a Buyer submits a “Buy It Now Offer” equal to the Buy It Now Price, Seller is obligated to accept the Buy It Now Offer and complete the sale.3.2. Types of Offer Submissions
On each Listing, the Buyer will choose how to submit their Offer, either as a “Max Offer”, an “Exact Offer,” or, if available, a Buy It Now Offer.
3.2.1. Max Offer: When a Buyer submits a Max Offer, the Listing system will automatically submit Offers on behalf of the Buyer until either the Buyer’s Offer is the highest Offer, in accordance with the required published increments, or the Buyer’s Max Offer has been reached, whichever comes first. The Company reserves the right stop the Max Offer from incrementing, at the last entered Offer, if the Buyer is placed in default, deactivated or otherwise has violated the User Agreement, these Website Rules, or any Listing Terms.
3.2.2. Exact Offer:When a Buyer submits an Exact Offer, the system will place that Offer at the exact price submitted by the Buyer. The Exact Offer must be at least the minimum required Offer increment and higher than the leading high Offer.
3.2.3. Buy It Now Offer: For each Listing, the Seller may publish a “Buy It Now Price.” If a Buyer submits a “Buy It Now Offer” equal to the Buy It Now Price, the Seller is obligated to accept the Buy It Now Offer and complete the sale. A Buyer that submits a Buy It Now Offer will immediately end the Listing Period. For any Listing, the Buy It Now Price may be withdrawn at any time during the Listing Period so long as no Buyer has submitted a Buy It Now Offer equal to the Buy It Now Price. After the Buy It Now Price has been withdrawn, Buyers will not be permitted to submit a Buy It Now Offer.3.3. Offer Extension Interval
Every Listing will have a Dynamic Closing interval. This interval will vary from Listing to Listing and will be published in the offer console. Any market leading Offer, or offer that matches the market leading offer, placed by a Buyer within the Dynamic Closing interval will cause the Listing Period to be extended. The new closing time will be established by adding the Dynamic Closing interval to the time of the market leading Offer submission. There is no limit to the number of times a Listing may be extended in this situation.3.4. Offer Acceptance Period
The “Offer Acceptance Period” is defined as the period from the end of the Listing Period to the acceptance of the Offer.
If the Asking Price has been met or exceeded, or the Buy It Now Price has been met, at the end of the Listing Period, the highest Offer will automatically be accepted, the Buyer that submitted the highest Offer will be the successful Buyer, and the Offer Acceptance Period will end immediately. Once an Offer has been accepted, both the successful Buyer and the Seller are obligated to complete the sale.
If the Asking Price has not been met at the close of the Listing Period, the Seller is not obligated to accept any Offer received below that Asking Price. In this case, the Seller has the right to accept an Offer or the Seller may reject all Offers. The amount of time during the Offer Acceptance Period allotted to the Seller to review and either accept or reject Offers is usually two business days, and will usually be included in the Listing Terms. If the Seller rejects the Offers, the Seller may not re-list the Item on the Website for a period of fourteen (14) days after the end of the Offer Acceptance Period of the Listing.3.5. Binding Offers
All Offers submitted by Buyers on listed Items are legally valid and binding. Offers are binding from the time of submission through the end of the Offer Acceptance Period. If a Buyer's Offer is accepted, the Buyer is obligated to complete the transaction. Buyers agree that submitting an Offer for Items listed for sale on this website is the legal equivalent of a firm purchase order.3.6. Non-Retractable Offers
A Buyer may not retract an Offer once it is submitted. Buyers should carefully review their Offers prior to submitting them. If a clear typographical error is made, the Buyer must immediately notify the Company by telephone. Notifications must be received no later than one hour after the erroneous Offer is placed. The Company reserves the right to approve or deny any Offer retraction requests, and retraction may result in default proceedings against the Buyer.3.7. Seller Sales Agreement and Electronic Signature
When a Buyer places an Offer on a Listing, the Buyer is accepting and agreeing to the Listing Terms. In addition to the Listing Terms, certain Sellers may require a Buyer to accept and agree to a Sellers Sales Agreement or Bill of Sale (collectively, “Seller Agreement”) that is a contract between the Buyer and the Seller. In the case of a Listing that requires agreement to a Seller Agreement, the Buyer will be presented the Seller Sales Agreement at the time of Offer submission. It is solely the Buyer’s responsibility to read and understand the terms of the Seller Agreement. When a Buyer confirms an Offer and accepts the terms of any required Seller Sales Agreement or Bill of Sale, this action constitutes an electronic signature, which is fully binding and is as enforceable as original signatures written on actual paper.3.8. Void Offers
The Company reserves the right to reject or void any Offers which the Company believes have not been made in good faith, are intended to manipulate the Listing process, or are prohibited either by applicable law or the Listing Terms for such Listing. An Offer that is voided may result in default proceedings against the Buyer.3.9. Technology Malfunction
If a technology malfunction materially affects the outcome of a Listing, the Company reserves the right to void the Listing.3.10. Fair Offer and Listing Practices
Sale price manipulation of any kind by users is strictly prohibited, including, without limitation, placing an Offer through a secondary account or other party, by communicating with other Buyers, or by placing a shill Offer. Buyers or Sellers who do not act in good faith or otherwise subvert the integrity of the Company’s marketplace on this website are subject to Default Penalties, suspension, and termination. Sellers may not place Offers, directly or indirectly, on their own Listings. The Company reserves all of its rights, including without limitation contractual, legal, equitable and statutory rights, against any user that violates this section. The Company will pursue all remedies, including without limitation damages, injunctive relief, and attorney’s fees and costs, against any user that violates this section.3.11. Pre-Qualified Buyer Listings
The Company may choose to limit a designated Listing to pre-qualified Buyers who may be required to place a specified amount on deposit with the Company. Prior to being invited to place an Offer on such Items, Buyers may be required to pay the deposit amount to the Company by wire transfer. The Company, in certain circumstances, and in the Company’s sole discretion, may charge the Buyer’s credit card as a means of entering the deposit. Additional qualifications will be described in the Listing Terms. Only pre-qualified Buyers will be allowed to place Offers during the Listing period. At the end of the Listing Period, the Company will promptly return the deposit, if any, to all unsuccessful Buyers, less any amounts that may be owed to the Company. If the successful Buyer for a Listing defaults by failing to pay the Purchase Price, Buyer’s Premium Fee, and all other fees, taxes and assessments, if any, the deposit amount of such Buyer will be forfeited and the Seller may exercise such other rights and remedies as are available under applicable law. In the event of such default, Buyer will remain liable to the Company to the extent that the Default Penalty described above exceeds the deposit amount.
- SETTLEMENT - PAYMENT AND ESCROW PROCESS; REMOVAL PROCESS4.1. Invoice and Payment
At the conclusion of the Listing Period and upon the acceptance of the successful Offer by the Seller, the Company will promptly e-mail the successful Buyer an Invoice to the Buyer's registered e-mail address. The successful Buyer may also view the Invoice in their MyOne or My Market account. The successful Buyer is required to pay the Purchase Price, Buyer’s Premium Fee, and other fees and taxes, if any, to the Company prior to the deadline specified in the Invoice (generally within three (3) business days of the Offer acceptance). The Company will act as Escrow Agent to hold such funds in escrow (the "Escrow Funds") in a separate and segregated bank account used for the Escrow Funds. The Company shall be entitled to hold the Escrow Funds in an interest-bearing bank account and shall be entitled to the interest accruing thereon, without any duty to account for the interest to Buyers or Sellers.4.2. Removal
Each Listing will have a scheduled removal deadline (the "Removal Deadline"), which is the date by which Buyers are required either to remove the Items or to assume control of the Items (such as when the Items are in a third party storage facility or when removal has commenced but has not yet been completed). Buyer agrees that the Removal Deadline is a material term of their agreement concerning the use of this website and any Listing in which Buyer submits an Offer. Buyer further agrees that their failure to either remove the Items or assume control of the Items by the Removal Deadline will be a material breach of Buyer’s agreement with both the Company and Seller, and will subject Buyer to the Buyer Default Penalty.
For each Listing, upon the Buyer’s payment of the Purchase Price, Buyer’s Premium Fee, and other fees and taxes, if any, due the Company, the Company will e-mail the successful Buyer, Seller, and, if necessary, the storage location a release document/Presentation of Buyer (“Release Document”). This document must be signed and returned to the Company’s Customer Service by both Buyer and Seller indicating successful removal of the Items. Failure to return a signed Release Document may result in the Company not releasing Buyer documents, such as a Title Document, or proceeds from the sale.
If the Seller notifies the Company that the Buyer has failed to remove the Items or assume control over the Items by the Removal Deadline, the Buyer will be placed in Default, and will be subject to the Buyer Default Penalty and applicable Buyer Default rules. In addition to the Buyer Default Penalty, the defaulting Buyer will forfeit all rights to the Items (which may be resold to a third party by the Seller) and may be subject to other claims, damages and liabilities to the Seller and to the Company, such as storage fees, administrative fees, the amount of any reduction in sales price upon resale of the Items by the Seller, and any applicable fines. Pending payment of the Buyer Default Penalty and any other assessed claims, damages, liabilities, and fees, the defaulting Buyer will be barred from submitting an Offer on any other Listings on this and any other affiliated website operated by the Company.4.3. Escrow Process
The Company is authorized to distribute to Seller, or Seller's designee, the Escrow Funds (less our agreed commission, any agreed fees for other services, if applicable, the amount required to discharge and satisfy all charges, liens, claims and encumbrances against the Items, and any applicable taxes payable on our services) upon the earlier of (i) removal of the Items or (ii) the second business day after the scheduled Removal Deadline, regardless of whether the Items have been picked up by such date. Removal of the Items will normally be evidenced by our receipt of: (i) notice from the Buyer stating that the Buyer has commenced removal of the Items, or if otherwise agreed, assumed control of the Items from the Seller; (ii) notice from the Seller stating that the Items have been removed by the Buyer; or (iii) documentation (such as a bill of lading) executed by Buyer or Buyer's agent or other reasonable verification that the Items have been released or shipped to the Buyer. The Company will not release any Escrow Funds to the Seller unless the Seller has returned a signed Release Document indicating the Item has been removed and, if applicable, the Title Document has been transferred to the Buyer. Once the Company disburses the Escrow Funds in conformity with the requirements of these rules, the Company shall be relieved of all further liability with respect to the Escrow Funds, and the Buyer and Seller must deal directly with each other concerning the Escrow Funds. The Company will not release any Escrow Funds while there is a valid, pending and unresolved Dispute Claim related to the Listing. The Company will not consider any dispute claim valid if the Buyer has not complied with the rules regarding Dispute Claims.4.4. Seller Making Items Available
If the Buyer notifies the Company that the Seller did not make the Items available by the scheduled Removal Deadline, we will notify both parties and refund the Escrow Funds to Buyer within ten (10) days after we send the notice, if the parties cannot agree to a removal schedule. In the event that the Company refunds the Buyer in accordance with this section, the Seller will pay the Seller Default Penalty Fee, in addition to any other fees the Company would have earned had the transaction completed.
If, for any reason, the Seller will not release the Item or is unable to provide clear title to the Item, the Buyer’s sole remedy, if any, shall be the refund of the Purchase Price and, if applicable, the Buyer’s Premium upon the return of the Item by the Buyer. Any Item for which clear title cannot be provided shall be returned and surrendered to the Company upon demand.4.5. Title Transfer Process
Not all Items are Titled Assets and not all transactions will result in the transfer of a Title Document. Buyers must review the Listing Terms to determine whether the transfer of a Title Document is applicable. For Titled Assets the transfer of the Title Document may occur as follows:
4.5.1. Unless otherwise noted in the Listing Terms, the Seller will convey Title Document to the Buyer at the time of removal of the Item
4.5.2. In certain circumstances, and as disclosed in the Listing Terms, the Company will hold the Title Document until the Buyer completes all the requirements of the Listing Terms and these Website Rules. Title Documents will not be sent to the Buyer unless and until the Company has received a Release Document executed by the Buyer and the Seller, which serves as evidence that removal of the Titled Asset has occurred. The Buyer must also provide any other documentation required in the Listing Terms, including but not limited to a fully executed Equipment Sales Agreement, export documentation, etc. Title Documents will not be conveyed until all required documentation is received from the Buyer. Buyers are required to send all necessary documentation to Company to the attention of the Title Clerk in a timely manner to receive the Title Document. If the Buyer fails to return all completed documentation within 30 days of the Removal Deadline, Company may dispose of the Title Documents, after which time the Title Document will no longer be available to the Buyer.
In lieu of Title Documents, certain transactions may result in the Seller providing a Bill of Sale to the Buyer. The Buyer is responsible for providing an executed Release Document, along with any other additional documentation which might be required, including, but not limited to, a fully executed Equipment Sales Agreement and export documentation in order to obtain the Bill of Sale. Buyers should review the Listing Terms to understand the necessary requirements which must be met before a Bill of Sale is provided.4.6. Buyer’s Claims of Material Discrepancies – Dispute Claims
Any claims of material shortages in quantity or other material discrepancies of the Items from their posted description must be communicated in writing to the Company by completing and submitting the Dispute Claim from the Contact Us page prior to 5:00 p.m. (Eastern time) on the second business day after the scheduled Removal Deadline. After such time, Buyer will have no rights to make any claims regarding shortages, material or otherwise, in quantity or other discrepancies, material or otherwise, of the Items from their posted description, and Buyer expressly waives any such rights. Dispute Claims not submitted in accordance with this section will not be considered by the Company or the Seller. If a Dispute Claim is submitted in accordance with this section, the Company will investigate the claim and advise the Buyer of the findings. The Buyer’s filing a Dispute Claim does not necessarily result in a credit or refund to the Buyer.
In any sale on this website, the Buyer and Seller are responsible for determining whether sales, use, VAT, GST, transfer, ad valorem or other similar taxes of any taxing authority apply to the transaction and to collect, report and remit the correct tax to the appropriate tax authority. Unless otherwise agreed with the Seller, the Company is not obligated to determine whether any such taxes apply and is not responsible for collecting, remitting or reporting any such taxes arising from any transaction. Invoices to Buyers may contain tax. When tax is due, Buyer is required to remit the stated tax. Failure to pay tax may result in Buyer being placed in default, and if applicable, deactivated.5.1. Buyer Tax Exemption
The Buyer is solely responsible for making sure a legible copy of any applicable exemption certificates is submitted to the Company, and that the exemption certificates remain current. Failure to supply the Company a current exemption certificate will result in the Buyer being charged applicable tax on the Invoice. At the time of Offer Acceptance, if the Buyer does not have a valid and current exemption certificate on file with the Company, the Buyer must pay the tax on the Invoice and is solely responsible for seeking reimbursement of the tax from the taxing authority.5.2. Export Documentation
If Buyer notifies the Company that the purchased Items will be exported, the sales tax may be removed from the Invoice. In that event, the Buyer must provide written proof of exportation to the Company within 10 days after the Removal Deadline. If the written documentation is not received within the stated period, then Buyer will be placed in Default and Buyer’s account will be suspended.
By submitting to the Company any tax exemption certificate, export documentation or other documents for the purpose of avoiding the assessment or payment of any tax, duty, assessment, or fee, the Buyer represents and warrants to the Company that (1) such documents are accurate, complete and applicable to the purchase for which they are submitted; (2) the Buyer is entitled to the tax or other exemption being claimed, and (3) the Buyer is not submitting the documents for any illegal or unlawful purpose. The Buyer agrees to indemnify the Company for any breach of any representation or warranty contained in this section, which indemnity obligation shall include without limitation all damages, fines, penalties, interest, attorney’s fees and costs suffered or incurred by the Company