The following terms do not apply to Online Bidding Auctions or Real Esate Auctions.
See separate terms at auction for the City of New Orleans Auctions.
All items are sold “AS IS, WHERE IS” with no warranties expressed or implied
A 10% Buyers Premium will be added to all purchases, unless otherwise noted
A convenience fee will be added to all credit card purchases
PAYMENT in full the day of the auction withing 1 hour of auction ending by cash, guaranteed – certified funds, bank wire ($20 fee), and Company/Personal checks up to $5,000 will be verified through our check service. Company/Personal checks over $5,000 MUST be accompanied by current irrevocable non-transferable bank letter of guarantee directed to ServCorp International, Inc. You may wish to have a bank letter of guarantee for checks under $5,000 as it will speed up the payment process because we will not have to verify your check with our check service Deposits, if stated, are 20% non-refundable (same terms as above) with balance due within 24 hours or loss of deposit. Credit Cards will be accepted at most auctions unless otherwise advertised. NOTE: If auction occurs on a SATURDAY, Payment in Full is required (no deposits), NO EXCEPTIONS!
Everything will be sold “as is, where is” no guarantee or warranty expressed or implied. Buyers shall rely on their own inspection of the items.
Auctioneer reserves the right to accept or reject any and all bids/increments being offered and add, group, delete, or match at the auctioneer’s discretion. Announcements by the auctioneer before the thing is bid take precedence over any printed and/or oral statements.
Bidding: The bidder is responsible for knowing which item(s) (s)he is bidding on. Once the auctioneer says sold, the buyer has entered into a contract and is responsible for his/her item(s). The Seller shall have no responsibility whatsoever to the Buyer for the thing sold. Bid Rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.
LIABILITY: Purchaser agrees to hold harmless the seller and ServCorp International, Inc. Agents, employees, officers, or auctioneers do not assume any responsibility whatsoever on anything sold or any personal injury resulting thereof.
DISPUTES: Immediately following the striking down of the thing sold, the auctioneer has the right to reopen the bidding in a bid off and/or reopen to all. The original clerking sheet will rule after the auction.
SALES TAX: Will be charged on all items sold (excluding vehicle/trailers). Any buyer purchasing form resale, must present State and/or Parish exemption certificates, along with occupational license to cashier at time of payment. Only items that are to be resold in your normal course of business will be exempt from tax. Any out of state purchasers must present their resale certificated to be exempt from tax.
NOTARY: There will be a $25.00 Notary Charge, payable by the purchaser on all items with titles/bills of sales. No titles or bills of sale will be executed without this fee.
REMOVAL: Nothing will be removed until paid for in full and receipt is in hand. Removal will be made within the announced checkout times. All other arrangements will be assessed $25.00 per hour with deposit paid in advance. Before leaving, a ServCorp employee will cross reference items loaded to the paid receipt.
ANY PURCHASES LEFT AFTER THE CHECKOUT PERIOD WILL BE LEFT AT THE BUYER’S RISK AND/OR EXPENSE.
Neither Auction Company nor seller are in any way responsible, even as faithful administrators, despite the fact that the item remains in their custody. The auctioneer reserves the right to resell any property and retain any monies received for any purchases not paid for or picked up within the allotted checkout times unless prior arrangements have been made with either the auction company or the seller only.
Sample Bank Letter (Bank Letter should be presented to staff member at time of registration)
Bank Letter of Guarantee Should be on Bank Letterhead, Signed by a Bank Official and Should Read As Follows:
ServCorp International Inc
101 Magnolia Street
Slidell, LA 70460
RE: Auction (Date)
To Whom It May Concern:
John Doe or ABC Company is a customer of this bank. XYZ Bank will guarantee payment to ServCorp International, Inc. up to $________ to be drawn on account #_________ by John Doe or ABC Company. No Stop Payment will be issued regarding this transaction. This letter expires 10 days from the date of the auction.
Signature of Representative
James Doe, Vice-President