Aircraft Bidder - Terms and Conditions for online auction bidding:
Permission to Use Bidding Software and Website:
Aircraft Bidder, as the “Auction Firm”, authorizes you, as registered bidder, to use this software for bidding purposes. By using this software to place a bid: (i) you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers set forth herein; (ii) you agree to all such terms, conditions, and disclaimers; (iii) you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers of the auction firm that is responsible for the auction in which you are bidding; and (iv) you agree to all of the terms, conditions, and disclaimers of the auction company for the specific auction in which you are placing a bid. You further agree not to copy, reproduce, or publicly display any content from the website or software outside the functions of the website without first obtaining written permission from Aircraft Bidder.
Registration to Participate in Bidding:
In order for you to participate in our online auctions, you must create a bidder profile and become a registered bidder. You agree to provide true, accurate, current, and complete information about yourself and/or your organization, as applicable, as requested during the registration process. This must include contact information where you can be reached during and after an auction and valid credit card information. The Auction Firm is committed to keeping your information secure.
You must be 18 years of age or older and have full legal capacity to complete such contractual action without need for any additional approval or consents. If you do not qualify, you are not permitted to participate in our online auctions.
After registering please read and understand the online auction terms and click “Agree” or Disagree”. Only individuals who are pre-registered and have agreed to the terms are qualified to place bids.
You can search through the various auctions that may be open. By selecting a particular auction you may view the item and any associated details and documents. Each auction is independent of all others and therefore any bids you wish to submit must be placed on each auction separately.
Each participant has two options to place bids:
1) Quick Bid. The red “Quick Bid” button allows you to place your bid based on our automatic pre-set increments. This requires you to manually click this button for each bid.
2) Maximum Bid. You can manually type your maximum bid in the provided space and then click the green “Submit” button. If the reserve price has been met, the system will automatically bid in pre-set increments for you, up to your maximum bid that you entered.
If the reserve price has not yet been met, the system will enter a bid up to your maximum bid attempting to meet the reserve price for you. You will have the opportunity to continue to participate by raising your bid until the closing time of the auction. By using this method, you can achieve your desired purchase price sooner.
Remember, once the “Quick Bid” or the “Submit” button is clicked that bid is final and is a legally binding offer to purchase the item(s) being offered.
The software will always post the status of the reserve price, so the participants know if reserve has been met.
While participating in an online auction you must give full attention to the current bid price and the “Time Remaining”. Our online auctions are automatically closed at the pre-advertised time. In the event of multiple bids coming in precisely at the closing time, the software will select the last bid and we cannot guarantee your bid will be accepted. We strongly encourage you to place your final bid prior to the auction closing time.
It is the sole responsibility of the bidders to know your bid and know if you are the high bidder at the close of the auction.
By agreeing to these terms and bidding in an auction, you attest that you are both willing and capable of paying the bid amount, plus the buyer's premium, plus taxes and transfer costs, before placing each bid. Financing, if necessary, must be in place before your bidding starts.
Bidding in an Online Only Auction:
Any bid that you place through the software in an auction is a legally binding offer to purchase the item(s) being auctioned. Your bid (i.e., offer) may be accepted by the auctioneer, in which case is a legally binding agreement that will be in place between you and the Auction Firm. The terms, conditions, and disclaimers of the Auction Firm for that specific auction will be part of the foregoing agreement.
Bid Status During an Auction:
All bids shall be accepted, or rejected, by the auctioneer. All bids are considered pending until accepted. The auctioneer has the sole and absolute discretion to advance the bidding, including the discretion to reject any bid which the auctioneer believes does not advance the auction and/or is injurious to the auction. Bids that may be rejected include without limitation bids that appear to the auctioneer to be nominal, suspicious and/or fraudulent.
Unless stated otherwise all auctions are considered as "Reserve Auction", meaning an auction in which the seller or an agent of the seller reserves the right to establish a stated minimum bid, the right to reject or accept any or all bids, or the right to withdraw the items at any time prior to the completion of the auction by the auctioneer. On items upon which there is a reserve, the auction firm, auctioneer, or his assigned agents, shall have the right to bid on behalf of the seller.
The Close of an Auction:
The auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. The auctioneer's determination of the successful bidder shall be the final determination of the successful bidder and the item is considered as “SOLD”.
Total Sale price and Payment Terms:
All sales are final upon the determination of the successful bidder by the auctioneer. The successful bidder is subject to all terms and conditions listed in this document, as well as in the listing for each auction.
A buyer’s premium will be charged, in addition to the final sale price, due from the buyer as one total, within 2 business days after bidding is concluded and the final sale price is established by the auctioneer / Auction Firm. The amount of the buyer’s premium will be announced in the listing of each auction, prior to the opening of each auction.
If you are deemed as successful bidder, you will pay the amount of your bid, any commissions, premiums, and other expenses that are set forth in these terms and conditions, as well as the auction listing.
Tax laws vary per state and is the bidder’s responsibility to research prior to close of auction for your understanding and to pay tax, when applicable, unless legally tax exempt.
Title transfer fees and associated costs will be paid 50% by seller and 50% by buyer.
In the event the item does not bring the reserve amount by the last bid but final price is negotiated after the auction closes, and is sold, let it be known these terms and fees shall apply for 90 days after the auction closes, including the buyer's premium.
Payment is due in full by wire transfer only in full, within 2 business days after the last bid is placed, or within 3 business days with preapproved financing. The successful bidder's credit card will be charged $5,000.00 for the security deposit at the close of the winning auction. Funds for the pull purchase price, inclusive of your. bid, any commissions, premiums, and other expenses must be placed in escrow via wire transfer. Any credit card deposit will not be counted toward the funds in escrow, and will be refunded once escrow is fully funded and closing occurs. For financing application please contact AvCap Financial.
You agree to indemnify and hold the “Auction Firm” and their agents / employees harmless from and against any and all costs, expenses, losses, and damages (collectively "damages"), including without limitation reasonable attorney's fees, the “Auction Firm” may incur with respect to your failure to pay all amounts that you are legally required to pay as the successful bidder.
Neither the Auction Firm, Auction Firm’s Licensor, Firm Manager, nor the Auctioneer, is your employee, agent, representative, or contractor, with respect to any auction in which you may participate. The Auction Firm is providing an internet-based service that enables you to place a bid with an auctioneer at auction. The auctioneer for any given auction is retained by the Auction Firm to conduct that given auction. The Auction Firm, Firm Manager, Auctioneer, and their employees, serves as an agent to the seller, not the buyer.
Unless otherwise expressly provided by the Auction Firm, all property is auctioned and sold in its "as-is" condition on the day of the auction. It is the bidder's responsibility to determine the nature, condition, and state of title of the property to be purchased at the auction. This inspection of said property can be inspected during a specific inspection time(s) announced in the auction listing.
Receiving Items Purchased:
Unless otherwise expressly provided by the Auction Firm, all property is auctioned and sold where it is located on the day of the auction ("where-is"). The successful bidder shall make arrangements with the Auction Firm for your pickup of any items that is purchased at an auction.
Payment in full must be received prior to pick up of the item(s) purchased. Loading, delivery, and/or shipping costs is not included in the bid price and is the buyer’s sole responsibility, unless agreed on in writing between potential buyer and the Auction Firm prior to the beginning of the auction.
Aircraft Bidder is licensed and governed by auction laws in Ohio code 4707 as well as other appropriate states as required for the sale of each specific aircraft.
There shall be no returns or exchanges except as may be expressly permitted in writing by the Auction Firm under its terms and conditions for the given auction.
Agreement of Terms:
Acceptance and agreement of the terms listed in this document, as well as advertisements, announcements, and statements, made in each auction listing, is mandatory prior to any person registering and/or bidding in an auction.