General Terms & Conditions
All bids are in US dollars.
(2) Buyers Premium:
A 7% Buyer's Premium will be added to the final bid price.
(3) Payment Terms:
All successful On-Line Bidders agree to make full payment to Universal Industrial Assets within 48 hours of the Online Closing Date. All payments are to be made by Bank Wire Transfer, Bank Check, Cashier's Check payable to Universal Industrial Assets or via credit card (additional 3% fee applies). Payments are to be made in US dollars only.
Universal Industrial Assets (“UIA”) may contact its online bidders for a deposit in the amount of 25% of your total bid(s) and/or your maximum bid(s) prior to the online closing date and/or bidding. The requirement of this deposit will be at the sole discretion of Universal Industrial Assets and may vary depending on the seller's contract, etc.
(4) Bid Is A Contract:
Your Bid(s) are not retractable for any reason. If you are the high bidder, you will enter into a legally binding contract with Universal Industrial Assets.
(5) Bid Closings/ Fraudulent Bidders:
On-Line Bidding will close on the announced date and time.
Universal Industrial Assets reserves the right, and you acknowledge and agree to its exercise of this right, to notify third parties, including law enforcement authorities, credit bureaus, other auction companies and industry regulators and authorities, about bidder's involved with or connected to fraudulent bidding or the failure to fully pay invoices in accordance with our terms and conditions.
(6) As Is, Where Is:
Buyer agrees to accept assets purchased per standard auction terms, "AS IS, WHERE IS" WITHOUT ANY REPRESENTATION OR WARRANTY BY UNIVERSAL INDUSTRIAL ASSETS OR ANY OTHER PERSON. THERE ARE NO EXPRESSED OR IMPLIED REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ASSETS INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATION OR WARRANTY REGARDING THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.
(7) Applicable Taxes:
Buyers located in the USA and purchasing assets from a USA location may be subject to applicable state sales tax unless Buyer is tax exempt in Buyer's state.
Universal Industrial Assets
11150 S. Choctaw Dr.
Baton Rouge, LA 70815