Operational policy version. Auction-specific published terms and lot-specific notices control where they differ. Final public legal language should be reviewed by qualified counsel for the applicable jurisdiction before production launch.
A Buyer’s Premium is added to the hammer price at the rate specified in the applicable auction-specific terms.
Sales tax, if applicable, is determined by the laws and tax rules applicable to the asset location. A valid resale or exemption certificate must be accepted before invoicing to claim an exemption.
Payment is due within the period specified in the applicable auction-specific terms after invoice issuance. Payment is by wire transfer unless the auction-specific terms state otherwise. Non-payment by the deadline constitutes default and may result in cancellation of the award, account restriction, and other remedies stated in the auction-specific terms.
Purchased assets must be picked up within the period specified in the applicable auction-specific terms. Storage charges, if applicable, are assessed as stated in the applicable auction-specific terms.
Bidder registration requires a valid credit card to be registered and verified. Card registration is for bidder verification and is not a cash deposit unless auction-specific Special Terms expressly state otherwise.
Inspection, when offered, is available according to the applicable auction-specific schedule. Assets are sold AS-IS, WHERE-IS and WITH ALL FAULTS.
Asset Location and Release/Pickup Location are separate transaction fields. Tax and jurisdiction policies follow the applicable asset location; physical pickup occurs only at the stated Release/Pickup Location.
The governing law and venue are determined by the jurisdiction applicable to the asset location, subject to the published auction-specific terms.
A Buyer may authorize a logistics company, forwarder, or carrier solely to pick up and physically receive purchased assets. This does not authorize that party to bid, amend terms, make payment or refund decisions, or execute contracts for the Buyer. No asset is released before PAID IN FULL status and required release verification.
Submitted bids are binding and may not be cancelled by a bidder. Maximum-bid/proxy bidding may automatically increase the current bid up to the bidder’s submitted maximum according to the configured bid increments. ReScience Global Auction may correct or cancel a bid only for a documented administrative or system error.
Some lots may be offered subject to a confidential Reserve Price. The Reserve Price and any internal Near Reserve threshold are not disclosed to bidders. The lot page may display reserve status only. If the Reserve Price is met when bidding closes, the highest eligible bidder may be declared the winner. If the Reserve Price is not met, no winner is declared automatically and the lot may remain subject to a seller/administrator decision to approve the sale or declare No Sale.