Terms

Currency: All bids are in US dollars.

Buyer's Premium: A Buyer's Premium will be added to the final bid price.  The Buyer's Premiums vary from 10% to 20%. Each auction has its own specified Buyer’s Premium amount, which amount is displayed in the following (4) areas: 

1. On the pop-up bidder’s paddle, under the "Essential Info on this Lot” link;
    
2. On the left-hand side of each auction lotting page;
    
3. At the top of the "Terms" for each auction, which terms you must agree to in order to bid; and
    
4. At the bottom of the "Terms" for each auction where you must check the "I agree" box for each auction.

Payment: All successful On-Line Bidders agree to make full payment to Industrial Recovery Services within 48 hours of the Online Closing Date. All payments are to be made by Bank Wire Transfer,  Bank Check or Cashier's Check payable to Industrial Recovery Services, Inc.  Payments are to be made in US dollars only.

Industrial Recovery Services ('IRS') 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 Industrial Recovery Services and may vary depending on the seller's contract, etc.

Your 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 Industrial Recovery Services, Inc.

Closing Time: On-Line Bidding will close on the announced date and time. As a courtesy to all bidders, the closing time will increase by five minutes if any bidder places a bid within the last five minutes prior to the closing time. These five minute extensions will continue until all bidding activity has stopped.

Fraudulent bidders / Unpaid invoices: Industrial Recovery Services, Inc. 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.

Important Notice: Buyer agrees to accept assets purchased per standard auction terms, "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT ANY REPRESENTATION OR WARRANTY BY INDUSTRIAL RECOVERY SERVICES, INC. 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.

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. 

(Buyers located in Canada and purchasing assets from a USA location) will not be charged any sales tax.

(All Buyers located in the USA, Canada or anywhere in the world and purchasing assets from a Canadian location) acknowledge and agree that they will pay the Canadian 5% GST Goods & Service Tax and the applicable PST Provincial Tax or the applicable HST Harmonized Sales Tax.  These taxes shall be added to your invoice - There will be no exceptions or exemptions for any reason. Provincial taxes are as follows: Quebec 9.975%, Prince Edward Island 10%, Manitoba 7%, Saskatchewan 5% and Alberta 0%. Assets purchased from Ontario, British Columbia, Nova Scotia, New Brunswick, Newfoundland and Labrador shall be subject to the HST Harmonized Sales Tax of 13%. Buyers located in the USA and other countries may receive a refund from the Canadian taxing authorities on the GST, PST and/or HST by submitting the appropriate documentation and forms directly to the Canadian taxing authorities. Such forms shall be available with your paid receipt from IRS. IRS will not provide or be responsible for any refunds. Please don’t ask. Your refunds must come directly from the Canadian taxing authorities.

GST #810268557RT0001     QST #1214256513