AUCTION TERMS Clause Samples
The Auction Terms clause defines the rules and procedures governing the conduct of an auction within a contract. It typically outlines how bids are to be submitted, the criteria for winning, payment terms, and any conditions for participation or disqualification. For example, it may specify minimum bid increments, deadlines for submitting offers, and the process for resolving disputes. The core function of this clause is to ensure transparency and fairness in the auction process, minimizing misunderstandings and disputes among participants.
AUCTION TERMS. Primary Dealer undertakes to follow any bond and auction terms confirmed by State Treasury.
AUCTION TERMS. The property sells: Subject to Court Ordered Minimum Bid of $ . Subject property is being sold at public auction, without recourse. Personal on-site inspection of the subject property is strongly recommended. Subject property will sell “as is, where is,” with no warranty expressed or implied as to improvements, availability of utilities, zoning, or environmental and wetland issues. Information provided online was obtained by sources deemed reliable. However, Auctioneer shall not be responsible for any errors or omissions herein. Announcements made at the auction will take precedence over written material, advertisements, or any other oral statements made prior to the day of auction. Buyer should carefully verify all items and make their own decision as to the accuracy thereof before relying on same. Auctioneer reserves the right to preclude any person from bidding if there are any questions as to the person’s credentials, fitness, etc.
AUCTION TERMS. 7. The Auction Terms consist of the provisions contained in the Agreement to Purchase, Exhibit A and this Addendum A, all of which have been posted to the auction website. These terms are non-negotiable and they supersede and control over any oral statements and/or any other written terms stated in the auction brochure and/or the auction website or otherwise.
8. After the bidding closes, a purchase offer for each final high bid will be completed by the Auction Company and delivered to the high bidder (“Buyer”) who shall then sign and return the purchase offer to the Auction Company. The purchase offer will be in the form of the Agreement to Purchase, Exhibit A and this Addendum A (as posted to the auction website) and may be signed and/or delivered electronically.
9. A Buyer’s Premium equal to 2.5% of the high bid amount will be charged to each Buyer and added to the bid amount to arrive at the purchase price.
10. The final high bid(s) are subject to the Seller’s acceptance or rejection. The final high bid(s) may be accepted at any time before the end of the first business day after the close of bidding.
11. An ▇▇▇▇▇▇▇ money deposit is due from each Buyer in the amount of at least 2.5% of the Buyer’s high bid (not including the Buyer’s Premium). As an update to the marketing materials, the Buyer’s bid deposit (delivered prior to the auction) will be held by the Auction Company as the ▇▇▇▇▇▇▇ Money for purposes of the Agreement to Purchase.
12. The balance of the purchase price is due in cash at closing. Bids are not contingent on financing. Each bidder is responsible for having arranged any financing prior to bidding.
13. Delivery of title and possession will be effective upon completion of the closing. The closing shall be held on or before June 18, 2022, or as soon as possible after said date upon completion of the survey (if applicable), the Final Title Commitment and Seller’s closing documents.
14. The closing agent’s fee to administer the closing will be shared equally (50:50) between the Buyer and Seller. Buyer will pay all costs of any loan obtained by ▇▇▇▇▇.
15. Real estate taxes will be prorated to the date of closing. Buyer will assume and pay all assessments, including drainage assessments, if any, that are last payable without a penalty after the date of closing.
16. Seller will furnish the deed and owner’s title insurance at Seller’s expense in accordance with the terms of Section 5 of the Agreement to Purchase.
17. Preliminary title insurance...
AUCTION TERMS. The auctions will be held online at ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ under my account ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/chatsworth-furniture/
AUCTION TERMS. 7. The Auction Terms consist of the provisions contained in the Agreement to Purchase, Exhibit A and this Addendum A, all of which have been posted to the auction website. These terms are non-negotiable and they supersede and control over any oral statements and/or any other written terms stated in the auction brochure and/or the auction website or otherwise.
8. After the bidding closes, a purchase offer for each final high bid will be completed by the Auction Company and delivered to the high bidder (“Buyer”) who shall then sign and return the purchase offer to the Auction Company. The purchase offer will be in the form of the Agreement to Purchase, Exhibit A and this Addendum A (as posted to the auction website) and may be signed and/or delivered electronically.
9. The final high bid(s) are subject to the Seller’s acceptance or rejection. The final high bid(s) may be accepted at any time on or before March 1, 2023.
10. An ▇▇▇▇▇▇▇ money deposit is due from each Buyer in the amount of at least 10% of the Buyer’s high bid. The Buyer’s bid deposit will be held by the Auction Company as the ▇▇▇▇▇▇▇ Money for purposes of the Agreement to Purchase. If and to the extent not paid from the bid deposit, the ▇▇▇▇▇▇▇ money must be delivered to and received by Auction Company on or before Tuesday, February 28
AUCTION TERMS. 1. The auctioneer acts as the agent for both the buyer and seller.
2. The auctioneer seeks to facilitate the sale between the buyer and seller by promoting the coffee for sale by the seller to the buyer.
3. The auction will take place on the date specific on the auction platform. This will be defined for each auction.
4. Each auction shall have its own page. The details of the date of the auction, the opening time of the auction and the coffee for sale are set out on that page.
5. The bidding will open at the specified time shown on the auction page. All lots will be open for bidding at the same time.
6. Each bidder is solely responsible of understanding the starting date and time for the auction. This varies from auction to auction.
7. Each bidder is solely responsible for familiarising themselves with the platform before the auction date.
8. A practice auction will be made available to the bidders no less than one week before the auction is due to start.
9. The seller reserves the right to withdraw from sale any of the items listed or to sell at this auction items not listed.
10. The auctioneer has the right at his absolute discretion to refuse any bid. The decision of the auctioneer shall be final and absolute.
11. When the time comes for the auction it will be a Helmsman style auction. There will be 5 phases to the auction:
11.1. Prior to opening all lots are listed but bidding hasn't started ▇▇.▇.▇▇▇▇ bidding
11.2.1. Bidding will open on all lots in the auction at the same time
11.2.2. Bidding continue in this way until all lots have received a bid, or once the one hour of bidding as passed; whichever is the longest and no longer than one hour.
▇▇.▇.▇. ▇▇ all cases the auctioneer will notify the bidders, at least 15 mins before, when the clock countdown is going to start.
AUCTION TERMS. 1. The auctioneer acts as the agent for both the buyer and seller.
2. The auctioneer seeks to facilitate the sale between the buyer and seller by promoting the coffee for sale by the seller to the buyer.
3. The auction will take place on the date specific on the auction platform. This will be defined for each auction.
4. Each auction shall have its own page. The details of the date of the auction, the opening time of the auction and the coffee for sale are set out on that page.
5. The bidding will open at the specified time shown on the auction page. All lots will be open for bidding at the same time.
AUCTION TERMS a. This Property is being sold by ▇▇▇▇▇▇▇ Group, Inc as a sealed bid auction as a single tract of land.
b. This sealed bid real estate auction will include a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to BUYERS and added to the bid amount to arrive at the total contract purchase price.
c. Bidding will be total dollar amount.
d. There will be no “final round” of bidding, unless a tie bid occurs. If a tie bid occurs, only the parties with tying bids will be contacted to raise their bids.
e. SELLER reserves the right to accept, reject or counter offer any and all bids. ▇▇▇▇▇▇▇ may enter into negotiations with one or more Bidders.
f. Acceptance and signing of the purchase agreement will take place through email and electronic document signatures. Payment of ▇▇▇▇▇▇▇ money is due upon acceptance and signing of the purchase agreement. In the event the acceptance is after 3:00pm, the ▇▇▇▇▇▇▇ money will be due the following business day.
AUCTION TERMS. BUYER ACKNOWLEDGES THAT THEY ARE BOUND BY THE AUCTION TERMS AND CONDITIONS THAT WERE PROVIDED AND AGREED TO PRIOR TO REGISTERING TO BID. ▇▇▇▇▇ HAS PERSONALLY EXAMINED THIS PROPERTY AND AGREES TO ACCEPT IT “AS IS” AND IN ITS PRESENT CONDITION WITH ANY DEFECTS NOTED OR NOT NOTED AND AGREES THAT THERE ARE NO ADDITIONAL WRITTEN OR ORAL UNDERSTANDINGS EXCEPT AS SPECIFIED HEREIN.
AUCTION TERMS. The property sells subject to Court confirmation. Auctioneer makes no representation as to how long it may take the court to confirm or deny sale. Subject property is being sold at public auction, without recourse. Personal on-site inspection of the subject property is strongly recommended. Subject property will sell “as is, where is,” with no warranty expressed or implied as to improvements, availability of utilities, zoning, or environmental and wetland issues. Information provided online was obtained by sources deemed reliable. However, Auctioneer shall not be responsible for any errors or omissions herein. Announcements made at the auction will take precedence over written material, advertisements, or any other oral statements made prior to the day of auction. Buyer should carefully verify all items and make their own decision as to the accuracy thereof before relying on same. Auctioneer reserves the right to preclude any person from bidding if there are any questions as to the person’s credentials, fitness, etc.