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AUCTION TERMS & CONDITIONS
Effective July 1, 2016
This website is owned by National Railway Equipment Co. (“NRE”), an Illinois corporation. NRE provides this website to conduct sales of products and materials. These Auction Terms & Conditions apply to all users of NRE’s website, and all bids placed and purchases made through this website. “Buyer,” as used throughout these Auction Terms & Conditions, means all users and visitors to NRE’s website, and all persons and entities that access or use the content, information, and functionality of NRE’s website, and place bids in any auction, regardless of whether any purchases are completed.
Consent and Authority
By accessing and using this website, and by placing bids in any auction on this website, Buyer agrees and consents to be bound by these Auction Terms & Conditions. A bid by Buyer constitutes conclusive and irrefutable proof that Buyer has read these Auction Terms & Conditions in its entirety, and agrees and consents to be bound by the Auction Terms & Conditions. Any Buyer, person, or entity registering with NRE through this website, placing any bids through this website, or otherwise using this website or accessing the content and information contained in this website, warrants and represents that such party has the full authority to place bids and make purchases through the auction website, and has the full authority to bind such party under these Auction Terms & Conditions.
NRE’s auction website lists specific quantities of specified items in lots (“Items”). Each lot, and the Items therein, are offered for sale under the terms and conditions of this Agreement. Buyer understands that the Items listed on NRE’s website may have been used. NRE has no obligation to repair or modify any Items for shipment or for any other reason. Descriptions, samples, and specifications of Items provided by NRE are for informational purposes only, are not warranted by NRE to be accurate or complete, and shall not be deemed part of the basis of the bargain. NRE STRONGLY ENCOURAGES BUYER TO INSPECT ITEMS BEFORE BIDDING ON THE ITEMS. NRE SHALL NOT BE RESPONSIBLE FOR THE CONSEQUENCES OF BUYER'S FAILURE TO INSPECT THE ITEMS OR FOR ANY INACCURACIES, INSUFFICIENCIES, OR OMISSIONS IN ITEM DESCRIPTIONS, SAMPLES, OR SPECIFICATIONS. The employees, representatives, or agents of NRE are not authorized by NRE to make any statements or representations of any kind with respect to the Items that are inconsistent with these Auction Terms & Conditions. Any such statements made will not bind NRE or be grounds for any claim against NRE.
Bids Binding on Buyer
Bids are legally binding commitments of Buyer. Once Buyer places a bid, and if NRE notifies Buyer it has won the auction, Buyer is obligated to buy the Item at the price of Buyer’s bid and in accordance with these Auction Terms and Conditions. ALL BIDS ARE IRREVOCABLE, AND CANNOT BE CANCELLED, RETRACTED, OR MODIFIED BY BUYER ONCE SUBMITTED. NRE is not bound by bids placed by Buyer. NRE has the right to withdraw its offer to sell Items at any time, even after a bid is placed on such Items. All bids and sales are subject to approval by NRE. NRE reserves the right to reject any and all bids and sales in its sole discretion.
NRE reserves the right to withdraw its offer to sell any Item, and to remove any Item from an auction or sale listing, at any time before or during the sale, and before payment for such Items is received by NRE, with no obligation to Buyer.
Access and Use
NRE reserves the right to deny use of or access to its auction website, to any person or entity, at any time for any reason. NRE reserves the right to refuse any registration or membership of any person or entity, and to terminate any registration or membership of any person or entity, at any time for any reason.
NRE is not responsible for any interruption, interference, or technical difficulties in Buyer’s bidding or use of this website. NRE, in its sole discretion, may void any sale, suspend bidding, and re-list any Items that were affected by any interruption, interference, or malfunction of this website or access to this website. In such cases, NRE at its discretion may accept any pending bids.
Bids are queued in the order received. In order to be recognized by NRE, bids must be received by NRE’s computer system prior to the expiration of the auction.
Buyer Understands Website
By using this website, Buyer agrees that it understands and agrees with how all features, services, applications, and tools of the website function, including without limitation any auto-bid, maximum bid, or other feature or functionality. NRE shall not be responsible for any misunderstanding of, or failure to understand, any feature or function of this website by Buyer.
The final high bidder will be designated by NRE after the end of the auction of the Items. If a dispute arises between two or more bidders, NRE reserves the right to restart the auction or relist the Items. The features of the website, including without limitation high-bid notification and auto-bid, are not a guarantee or commitment by NRE that Buyer will be the highest bidder or will win the auction of the Items. NRE is not obligated to notify bidders during an auction that they have been outbid by another bidder. Buyer is solely responsible for monitoring auction activity and bid status.
All bids and currency amounts stated on the website are in United States Dollars only. All bids in any currency other than United States Dollars are void.
Security of Buyer’s account information and password is Buyer’s sole responsibility. If Buyer believes that the security of their information or password has been compromised, Buyer must notify NRE immediately. Unauthorized use of passwords or user accounts is strictly prohibited.
Buyer may not transfer or sell its membership, account, password, or user ID to any other party.
The reserve price is the lowest price at which the Items will be sold. All Items have a reserve price, regardless of whether the reserve price is stated or not. NRE does not have any obligation to disclose the reserve price. If the reserve price is not met by the end of the auction, the listed Items will not be sold during that auction.
NRE will invoice Buyer upon completion of the auction. The purchase price, payable only in immediately available United States Dollars, will include Buyer’s bid amount and Taxes as defined herein. Buyer shall pay NRE’s invoice prior to NRE’s release of the Items to Buyer (or to the party shipping the Items), or within 7 days of Buyer’s receipt of invoice, whichever is earlier. Late payments shall be subject to interest at the rate of 2% per month.
Delivery of the Items shall be Ex Works (Incoterms 2010) at NRE's designated place of business. Title to the Items shall pass to Buyer upon delivery. Buyer shall be responsible for all costs of shipping or otherwise transporting Items from the delivery location, including without limitation all costs of loading Items and preparing Items for shipment or transport. Buyer shall bear all risk of loss with respect to the Items from the moment the Items are delivered to the carrier, railroad, any third party, or Buyer. If NRE assists Buyer with arranging the shipment of Items, the Buyer shall continue to bear all risk of loss and costs of shipment. NRE shall not be liable for the negligence of any third party during shipment, or for any damage to or loss of the Items, from any cause, during shipment. The date by which Items must be removed from the NRE’s designated place of business is stated in each listing, or NRE will otherwise notify Buyer of such removal date. If Buyer fails to pick up Items by the removal date, NRE will charge, and Buyer will pay, storage fees in the amount of $100 per day per Item. Items remaining in NRE’s custody 30 days after the removal date will be deemed abandoned, ownership will revert to NRE, any funds paid by Buyer for the Items will be forfeited to NRE, and NRE will resell or dispose of such Items in its discretion.
ALL ITEMS ARE SOLD BY NRE AND PURCHASED BY THE BUYER "AS IS, WHERE IS" AND "WITH ALL FAULTS.” NRE MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, REGARDING THE ITEMS, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR AS TO THE QUALITY, WORKMANSHIP, OR ANY OTHER MATTER WITH RESPECT TO THE ITEMS, AND HEREBY DISCLAIMS ALL SUCH REPRESENTATIONS AND WARRANTIES.
Buyer agrees to indemnify, hold harmless, and defend NRE, and its officers, directors, employees, agents, representatives, corporate parent, subsidiaries, and affiliates, from and against all liability, claims, causes of action, demands, damages, losses, fines, penalties, and other costs of any kind, including without limitation reasonable attorneys’ fees, incurred or suffered by any person or entity arising from or related to:
• Buyer’s purchase, ownership, and use of any Items from NRE by or through NRE’s auction website;
• Buyer’s or any third-party’s use of or access to any Item purchased by Buyer by or through NRE’s auction website;
• Inspection of Items by Buyer or anyone acting on Buyer’s behalf;
• Any entry of Buyer or anyone acting on Buyer’s behalf onto any property owned or leased by NRE;
• Preparing the Items for shipping or transport, whether such preparation is conducted by NRE, Buyer, or a third party;
• Loading the Items for shipping or transport, whether such loading is conducted by NRE, Buyer, or a third party;
• Shipping or transporting the Items; and
• Buyer’s breach of these Auction Terms & Conditions.
These indemnification provisions shall survive delivery of the Items to Buyer and any subsequent sale or other transfer of the Items to any third party. These indemnification provisions are in addition to, and not in limitation of, the indemnification provisions contained in NRE’s Website Terms & Conditions.
LIMITATION OF LIABILITY
IN NO EVENT SHALL NRE’S TOTAL LIABILITY TO BUYER FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING WITHOUT LIMITATION NEGLIGENCE), OR OTHERWISE, EXCEED THE VALUE OF PAYMENTS RECEIVED BY NRE FOR ITEMS PURCHASED BY BUYER THROUGH NRE’S AUCTION WEBSITE. IN NO EVENT SHALL NRE BE LIABLE TO BUYER FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER ARISING FROM OR IN ANY WAY RELATED TO BUYER’S PURCHASE OF ITEMS FROM NRE BY OR THROUGH NRE’S AUCTION WEBSITE. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND WILL SURVIVE DELIVERY OF THE ITEMS TO BUYER AND ANY SUBSEQUENT SALE OR OTHER TRANSFER OF THE ITEMS TO ANY THIRD PARTY.
These limitation of liability provisions are in addition to, and not in limitation of, the limitation of liability provisions contained in NRE’s Website Terms & Conditions.
Use of NRE’s website is available only to parties who can form legally binding contracts with NRE. Without limiting the foregoing, NRE is not obligated to sell to a) minors, b) Buyers whose use of this website has been temporarily or indefinitely suspended by NRE, c) nationals, residents, or other parties of any country restricted by the United States Government or any state or local government, d) any party identified on the list of Specially Designated Nationals maintained by the United States Treasury Department, or the Table of Denial Orders maintained by the United States Department of Commerce, or any export control or embargo law or regulation, as such restricted countries or parties, lists, and orders as may be amended or modified from time to time by the United States Government or any state or local government.
These Auction Terms & Conditions, and all sales and purchases of Items by or through NRE’s auction website, are governed by the laws of the state of Illinois, United States of America, without reference to its conflict of laws provisions. All disputes or claims arising from or in any way related to these Auction Terms & Conditions, or the sales or purchase of any Item by or through NRE’s auction website, shall be subject to the exclusive jurisdiction and venue of the courts of the state of Illinois. The United Nations Convention on Contracts for the International Sale of Goods shall not apply to these Auction Terms & Conditions.
Buyer shall be responsible for all tax liabilities resulting from the purchase by Buyer of Items by or through NRE’s auction website, including without limitation ad valorem taxes, documentary stamp, capital gains, value added taxes, sales taxes, use tax, personal property tax, and any other taxes, penalties, or assessments imposed by applicable law.
If NRE conducts legal proceedings to enforce its rights under these Auction Terms & Conditions, NRE shall be entitled to recover its attorneys' fees and court costs, including fees and costs of enforcing any judgment, compelling specific performance, and all appellate court proceedings. If the Buyer fails to pay NRE any amount when due, or otherwise breaches these Auction Terms & Conditions, NRE shall have the right to resell the Items, or at NRE’s option, bring an action for specific performance. In the event of a resale, Buyer agrees to pay all costs of resale, plus any deficiency between the original purchase price and the total purchase price upon resale. If Buyer files a claim against the NRE and does not prevail, Buyer will reimburse the NRE for all reasonable attorney’s fees and costs incurred in responding to and defending against such claim.
If you have questions or comments about NRE’s Auction Terms & Conditions, please contact:
National Railway Equipment Co.
Attn: General Counsel
PO Box 1416
Mt. Vernon IL 62864