Terms

Automatic Bidding (max bid, auto bid, proxybid)

Automatic Bidding (auto bid) option makes bidding convenient allowing you to enter the maximum bid amount* that you are willing to bid on an item. Based on your Account Preferences for notification, you may be notified whenever your auto bid increases &/or when it is exceeded. The auction company or other bidders do not have access to see your auto bid amount. You are the only person that can see your auto bid amount (displayed in your Watch List). Your auto bid will not “jump” to the maximum amount. The auto bid will increment up only with competing bids until either the item completes with you as the high bidder, or until your auto bid has been exceeded by another bid. If another bidder already has an auto bid in place when you place your auto bid, the (2) competing auto bids will continue to increment until either the lower auto bid is maxed out; or if both auto bid amounts are the same the auto bid that was placed first will become winning position of the bid. Example #1: 1. Minimum bid is at $10.00 with a $5.00 bid increment.

2. Bidder #1 places an auto bid for $77.00.

3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00.

4. Bidder #2 places an auto bid for $23.00.

5. Bids would compete with each other as follows: Bidder #1 - $10

Bidder #2 - $15

Bidder #1 - $20

Bidder #2 - $23 (maximum auto bid placed)

Bidder #1 - $25 (high bid position) The high bid is $25 not $28 because Bidder #2’s auto bid was exceeded at an increment other than $5. Example #2: 1. Minimum bid is $10.00 with a $5.00 bid increment.

2. Bidder #1 places an auto bid of $77.00.

3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00

4. Bidder #2 places an auto bid for $25.00

5. Bids would compete with each other as follows: Bidder #1 - $10

Bidder #2 - $15

Bidder #1 - $20

Bidder #2 - $25 (maximum auto bid placed)

Bidder #1 - $30 (high bid position) The high bid is $30 because Bidder #2’s auto bid was exceeded at an increment equal to $5. Example #3: 1. Minimum bid is $10.00 with a $5.00 bid increment.

2. Bidder #1 places an auto bid of $25.00.

3. No other auto bids are in place, therefore Bidder #1 is high bidder at $10.00

4. Bidder #2 places an auto bid for $25.00 (same amount as Bidder #1 auto bid)

5. Bids would compete with each other as follows: Bidder #1 - $10

Bidder #2 - $15

Bidder #1 - $20

Bidder #2 - $25

Bidder #1 - $25 (high bid position) The high bid is $25 with Bidder #1 in high bid position because Bidder #1 placed the $25.00 auto bid before Bidder #2. *Buyer’s premium and sales tax will be in addition to the winning bid amount.

Buyer's Premium Text

A 19% Buyers Premium is in effect for this auction. A 3% discount on the buyer’s premium is given for cash, cashier's check or wire transfer payments, resulting in a 16% Buyers Premium for these two types of payment. Payment Types Accepted & Applicable Buyer’s Premium for each - Effective 1/1/2012: • 16% - Wire Transfer • 16% - *Cash or Cashier's Check • 19% - MasterCard, VISA, Discover, AMEX

Sales tax is calculated on total sales price which includes Buyer's Premium (therefore Buyer's Premium is also taxable). Cash or Cashier's Check accepted ONLY at these locations: CORPORATE OFFICE: 601 Gordon Industrial Ct., Byron Center, MICHIGAN 49315



WAYLAND AUCTION CENTER (Repocast.com): 3450 12th Street, Wayland, MICHIGAN 49348

Explanation of Sales Tax on Buyers Premium



Condition of Online Auction Lots

All high bids are considered legal binding contracts and all sales are final. All items are sold "as is where is", with NO guarantee, warranty, or possible refund written, expressed, or implied. The working/running condition of an item may not be known and may not always be listed in the items description. Sometimes we do know and list the condition of the items, but many times do not. Please note that all sales are final regardless of the purchase items condition, unless the discretion of an Orbitbid.com Manager deems differently. All items sell AS IS - WHERE IS WITH ALL FAULTS and with no warranty of any type expressed or implied as to the merchantability or fitness for any particular purpose of any goods offered in this sale. All sales are made on an AS IS - WHERE IS WITH ALL FAULTS basis. All buyers are urged to physically inspect the item prior to bidding during the inspection period. No bids can be withdrawn once submitted before, during or after the auction for any reason. BUYER agrees that these terms as well as all other terms set forth below, can be amended or revised only in writing, signed by the auctioneer. BUYER also agrees that any oral representation made by the auction company or its agents shall not modify these "AS IS - WHERE IS WITH ALL FAULTS" terms. BUYER understands that any description given, written on the equipment, or advertised by any other means is not guaranteed, and BUYER will rely entirely on their own inspection. All information and descriptions contained in advertising this sale are believed correct, but no responsibility is assumed by Auction Co., or Seller for any errors or omissions.



Dynamic Bidding

Posted closing times and displays of Auction Co.'s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times based on Eastern Standard Time. Dynamic bidding - The dynamic bid on this website is a feature that does NOT allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. Example - An item is bid on at 7:50pm. An auction is scheduled to close at 8:00pm. When this bid is placed the ending time will automatically extend to 8:10pm. When another bid is placed at 8:01 the auction will extend until 8:20pm. This will give bidder 19 minutes to place another bid. If no bids are placed this auction will conclude at 8:20pm. The key to your dynamic bidding feature is that the auction extends from the preset closing time in 10 minute intervals, NOT 10 minutes from when you placed your bid.

Forklift & Loading Dock

Loading Dock is available at no charge for customer user on first come first serve basis.



Forklift is NOT available at this auction site.

General Information

**IMPORTANT NOTE & REMINDER If for any reason buyers fail to remove any of buyer purchases within the time specified, the Auction Co. shall have the right but not the obligation, in its sole discretion, to resell, discard or remove and store said purchase at buyers sole risk and expense (storage costs will be charged - per day - per item - other costs additional), without waiving any rights that Auction Co. or seller may have against buyer. Storage charges will be the responsibility of the buyer (after removal period.) Removal period is posted on each sale and may vary from sale to sale.

Incremental Bidding

A bid may be placed for any amount equal to or greater than the current required bid amount, which means your bid amount is not required to be an increment of the posted bid increment. Example: Current bid at $10.00 with a bid increment of $5.00.

Minimum bid required would be $15.00.

A bid may be placed for any amount equal to or greater than $15.00.

The bid amount is not required to be in increments of $5.00; therefore a bid could be placed for $17.00 or $76.00 or whatever amount you wish to bid as long as it is equal to or greater than the minimum bid required.

The winning bid may end up at any amount. It may not be divisible by the stated increment. The winning bid will be the highest Refer to Automatic Bidding section for further explanation of the convenient method of placing an automatic bid.

Inspection Times









No pre-auction inspection available.

Payment Dates

All payments required within 2 days of auction. Payments are NOT accepted at the auction location. We encourage online payments due to the 2 day payment requirement. However, if you choose to pay in person, payments are accepted at the following REPOCAST.COM locations during the times indicated:

DATE BYRON CENTER HOURS WAYLAND HOURS Wednesday 6/6/18 9:00 AM - 5:00 PM 9:00 AM - 4:00 PM Thursday 6/7/18 9:00 AM - 6:00 PM 9:00 AM - 4:00 PM

Posted Closing Times

Posted closing times and displays of Auction Co.’s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times are local time for auction location. Dynamic bidding – The dynamic bid on this website is a feature that does NOT allow an item to sell at the end of the auction until there is 10 minutes of bidding inactivity. EXAMPLE: An item is bid on at 7:50pm. An auction is scheduled to close at 8:00pm. When this bid is placed the ending time will automatically extend to 8:10pm. When another bid is placed at 8:01pm the auction will extend until 8:20pm. This will give bidders 19 minutes to place another bid. If no bids are placed, this auction will conclude at 8:20pm. The key to your dynamic bidding feature is that the auction extends from the preset closing time in 10 minute intervals, NOT 10 minutes from when you placed your bid.

Pre-Bidding

You can place bids on an item before the auction starts, this is especially helpful if you will not be available on the day of the auction. When an item status shows as “Pre-Bidding” this simply means that bids placed are not displayed on the auction site until the date the auction is scheduled to open. Although there may actually be pre-bids placed on the item, an item in pre-bidding status will show # of bids placed as 0 and the current bid (required bid) will show as the opening bid. You may place a pre-bid through the same process as normal bidding. You can monitor & view your bidding activity on items in pre-bid status from your Watch List. When you place a pre-bid, if you are notified that your bid is not higher than another user’s pre-bid this means that another bidder(s) has already placed a pre-bid equal to or higher the amount of the pre-bid you are attempting to place. You will need to raise your pre-bid if you want to be in the winning position. All pre-bids will be tallied and shown when the auction actually begins.

Qualifications for 3% Buyers Premium Discount

Cash

Cashier’s Check (make payable to Orbitbid.com)

Wire Transfer PLEASE NOTE: Personal or Business Checks DO NOT qualify for the 3% discount.





Refund Policy

NO REFUNDS, RETURNS, OR EXCHANGES. All items sold "AS IS WHERE IS" with all faults.

Removal Times / Failure to Remove

Photo ID and thumbprint will be scanned during every transaction at the time of pickup. We respect your privacy and we value you as a customer. The photo ID and thumbprint requirement is a security measure to document the actual person picking up item(s) from our facility. The intent of the requirement is to protect you and us, ensuring the items make it to the winning bidders. Wednesday 6/6/2018 8:00 a.m. - 5:00 p.m. Thursday 6/7/2018 8:00 a.m. - 5:00 p.m.

Friday 6/8/2018 8:00 a.m. - 5:00 p.m.







Extended pickup hours available for 2nd day of removal by APPOINTMENT ONLY! Extended Pickup Appointments

This is available only for prepaid invoices.

Items NOT removed within auction terms will be considered abandoned and forfeited Buyer is responsible for DISASSEMBLY, LOADING, PACKAGING & SHIPPING of items purchased. Auction staff will not have tools available for disassembly. Please bring any necessary tools with you at time of pickup. Orbitbid.com does not package or ship items. Once items leave our premises, we are no longer responsible. Be sure to insure your shipment with the carrier.

Sales Subject to Approval

This means that an items sale is contingent upon receiving the approval of the Owner, Bank, Court, Trustee or Lien Holders affiliated with that particular piece. Please call (866) 672-4806 for the Approvals on all items that sell subject and we will be happy to assist you. High bidders will be notified as soon as possible the day following the auction.

Sales Tax

Sales Tax Rate for this auction will be: 6% All bidders will be subject to applicable sales tax for the state in with the auction is held. If you are tax exempt, provide our office with the documentation required for exemption.

Sales tax is calculated on total sales price which includes Buyer's Premium (therefore Buyer's Premium is also taxable).

Explanation of Sales Tax on Buyers Premium



MI Sales Tax Exemption Form



Shipping Options / Information

Orbitbid will not be able to assist with disassembly, loading, packaging, or shipping of any item(s) AND cannot be listed as the “shipper” on any BOL. Riggers & Hauler's List

Special Notes

Staff will not have tools available for disassembly. Please bring any necessary tools with you at time of pickup. PLEASE NOTE: PAYMENTS ARE NOT ACCEPTED AT THE AUCTION LOCATION



Storage Fees / Restocking Fees

BIDDER explicitly authorizes the charging of his or her credit card for the liquidated damages fee which are applied when bidder/buyer’s invoice(s) are not paid in full within 2 business days of auction date. Liquidated damages fee will equal between 20% and 100% (or minimum of $25.00) of total purchase price during the auction or immediately following the auction. Note that the purchase price is the sum of the bid price, buyer’s premium, buyer's fee, and sales tax if applicable. Liquidated damages fee is assessed based on the level of financial damages caused by the buyer’s failure to follow through with the purchase as documented and agreed upon and by the buyer, and is to be recovered by Auction Co.; although actual damages are difficult to ascertain because of risk and costs associated with re-listing an item, storing it for an undetermined amount of time and, in certain circumstances, needing to physically relocate an item.

**IMPORTANT NOTE & REMINDER If for any reason buyers fail to remove any of buyer purchases within the time specified, the Auction Co. shall have the right but not the obligation, in its sole discretion, to resell, discard or remove and store said purchase at buyers sole risk and expense (storage costs will be charged - per day - per item - other costs additional), without waiving any rights that Auction Co. or seller may have against buyer. Storage charges will be the responsibility of the buyer (after removal period.) Removal period is posted on each sale and may vary from sale to sale.

Titled Lots

For questions on a titled item please contact our Title Office at 616-261-4979.

For auctions conducted outside of the state of Michigan: Buyers will be responsible for taxes and plates at their local Secretary of State or DMV office. Titles will be given at the auction location or sent via mail upon receipt of secure payment.

Michigan residents, we are required by the State of Michigan to broker all titled items sold. A $95.00 broker fee will be charged for all vehicles which we need to broker. In addition, a $15.00 fee for title transfer will be charged. We can apply for your plates and registration if you so choose. If you wish to have us do so, you MUST provide us with proof of insurance for the purchased vehicle before you can remove it from the auction site. If not, you must be prepared to tow or trailer your vehicle. The appropriate fees will be added to your invoice. Non-Michigan Residents will pay the $95.00 Broker Fee and necessary fees according to their state rules for titled vehicles. Please note that buyers will need to sign the appropriate paperwork required by the state for title transfers. Title processing may take up to 15 business days. Then will take 4-10 business days to receive your title from the Secretary of State. For Out of Country buyers, the State of Michigan requires we collect 6% sales tax and transfer the title as an “In-Transit” through the Michigan Secretary of State before the title is issued to the buyer. All out of country buyers must contact our title department to start the paperwork before the item can go across the border. We will need to obtain the appropriate documents and signatures to transfer the title; this could take 3 to 5 weeks. We recommend all vehicle purchases made with the intent of taking the vehicle out of the country contact the title dept. as soon as a winning bid is accepted. For questions on a titled item located in Byron Center please contact our title dept. at (800) 527-8243 or (616) 261-4988 ext. 1144, and for questions regarding titled items in Flint please contact (248) 627-5200 ext. 1177.



Types of Payment