BIDNANZA STANDARD SERVICE AGREEMENT

TERMS AND CONDITIONS:

The Auction will be conducted by BIDNANZA.COM (“Auctioneer”). BIDNANZA.COM is merely the place for advertising and buying vehicles.  BIDNANZA.COM makes no guarantee that the vehicles listed for sale are as described.  BIDNANZA.COM does not sell vehicles owned by our company. It is the buyer’s exclusive responsibility to do their own due diligence regarding any vehicle they bid on.  BIDNANZA.COM will remove any vehicle that appears to not be legitimate or uses inappropriate language. 

The auctioneer shall include, but not be limited to, any and all of its agents, employees, representatives, officers, and directors.  The Terms and Conditions generally describe the auction of real properties and assets owned by one or more selling entities "seller" herein shall include the selling entity and any parent company, subsidiaries, or affiliated companies).  The Sellers of the properties have instructed the Auctioneer to auction the listed properties. Prospective purchasers who register in accordance with the instructions below will be deemed “bidders during the auction.

REGISTRATION for bidding and selling

Registration is required in order to bid on and list a vehicle for sale. There is no fee to register; however, a valid credit card must be submitted, which will be charged to the successful winning bidder. In order to register for the Auction, please go to www.BIDNANZA.com, click on the appropriate icon, and follow the registration instructions. Once registered, you are agreeing to any and all terms and conditions. Terms and conditions. maybe changed by BiDNANZA.COM at their exclusive discretion.

AUCTION BIDDING: Prospective purchasers are required to complete the auction and pay the seller upon making arrangements with the seller. The successful bidder’s credit card will be charged our success buyer’s premium fee of 5% with a minimum of $40 but capped at $4,500 no matter how high the vehicle sells for.

An auction success deposit of up to 10% of the sale price is required within 24 hours of the sale. Failing to complete the auction can result in being banned from our site. Winning bidders are required to pay the seller directly. Only your successful auction premium will be deducted by BIDNANZA.COM.  

DUE DILIGENCE 

Inspection:  Each vehicle may have an inspection period if the seller will allow inspections. These inspections may be available by appointment only. All bidders must fully complete their due diligence prior to the auction. Winning bidders shall represent, covenant, and warrant that they are purchasing the vehicle relying solely on their independent inspection of the vehicle in its existing “As Is, Where Is, With All Faults and Limitation's condition. Neither the Sellers, their affiliates (“Seller’s Broker"), nor the Auctioneer shall be liable for any allowance, adjustment, or revision based upon the failure of the vehicle. Any information provided by the seller or auctioneer regarding the vehicle is an approximation and is based on the information available. Should the seller misrepresent their vehicle in terms of year, title, actual mileage, and condition, and the buyer did not or was not allowed to inspect the vehicle, that is the only reason a buyer may cancel the sale. We strongly advise that when paying the seller, the buyer either pays upon delivery or uses a safe payment method in case the seller is dishonest.    

Inspection Indemnity.  In connection with any due diligence, inspection, visit, and/or investigation of the vehicle by prospective purchasers, bidders, and/or winning bidders or any person or entity on their behalf (the "inspectors"), indemnify, defend, and hold the seller, seller’s broker, and auctioneer harmless from all liability, claims, demands, damages, and/or costs directly or indirectly arising therefrom.

The seller’s broker and auctioneer are held harmless from liability for any injuries to persons or property occurring during any inspection prior to the close of the transaction. Prospective purchasers acknowledge and accept all terms and conditions.

Prospective purchasers are encouraged to fully investigate public records and all other matters that may disclose information relative to the vehicle. By participating in the auction, the bidder is representing to the auctioneer and seller that he or she has conducted due diligence to the extent the bidder may deem it desirable or necessary to bid on the vehicle and has sufficient resources to close the transaction.

BIDDING AND BUYING

Bidnanza The “auctioneer” is not acting as an agent for either the bidder or the seller. Bidnanza is simply an advertising marketplace to enable these transactions to occur in a fair, honest, and equal way. 

Reserve Auction.  A reserve auction, unless otherwise noted on a specific vehicle listing, has a reserve price (“reserve price”), meaning the seller of each vehicle can accept or reject any bid and has also established an unpublished minimum selling price. The starting bid is not the reserve price. The winning bidder for a vehicle must meet or exceed the reserve price. Once the reserve price is met, the vehicle will be sold to the highest bidder.

The seller may decide to lower their reserve price at the auction and sell to the highest bidder. The reserve price for most vehicles will not be divulged; however, there may be some properties where the reserve will be announced. The seller may not bid on any vehicle to be sold that they are selling.

Absolute Auction (no reserve) Some vehicles may be sold at auction without a reserve price and will be sold to the highest bidder. Please review the auction’s website for full details and further information. The seller may not bid on any vehicle to be sold that they are selling.

Buy Now Price: A seller may select a price that will end the auction and sell the vehicle. The seller may allow lower bids to be entered or accept or reject offers sent to the bidder. We encourage this type of auction. Many buyers do not want to guess what the reserve is and will make offers to the seller at or under the buy-it price. The seller may accept the offer and sell the vehicle or reject it, but the seller must accept the buy-it-now price.

Buyer’s Premium and Total Purchase Price The total purchase price will include a buyer’s premium of five percentage (5%) of the winning bid amount. A higher or lower minimum buyer’s premium may also apply for specific vehicles. Please check the vehicle details page at www.BIDNANZA.com regarding vehicle-specific terms. Therefore, the actual total purchase price on auction day (and at the closing) is equal to the winning bid amount plus the buyer’s premium (the “total purchase price").

ONLINE BIDDING The bidder authorization and log-in information given to you upon successfully registering to bid online shall be used by you during the auction to bid on properties. By participating in the auction and placing bids, the bidder represents to the auctioneer and seller that the bidder has agreed to and accepted these terms and conditions. If you are the winning bidder, you will be contacted by email or phone by an auctioneer representative at the phone number and email address you provided during your registration. Upon being declared the winning bidder, the credit card provided by you during registration will be charged for the amount specified for your successful auction buyer’s premium.

If you fail to submit the executed purchase documentation or earnest money deposit in accordance with these terms and conditions, the amount charged to your credit card will be retained by the auctioneer as liquidated damages. The winning bidder agrees that the damages caused to the auctioneer by the winning bidder’s failure to timely complete the purchase would be difficult and impractical to calculate, and they agree that the authorization amount is a reasonable pre-estimate of the damages to the auctioneer.

If a winning bidder cannot be reached within ten (24) hours of the auctioneer’s acknowledgement of the winning bid, then the auctioneer or seller can declare the winning bidder to be in default. In the event of such a declaration, the winning bidder’s bid shall be null and void, and the auctioneer and seller shall have absolutely no further liability or obligation to that bidder. In addition, such winning bidder shall be subject to liquidated damages as set forth herein. Furthermore, the auctioneer and seller reserve the right to immediately put the vehicle back up for sale at the auction.

Agreement. The buyer agrees to pay the seller directly in the way the seller requires. If the bidder does not agree with the seller's terms, please do not bid. Your bid is a comment on following all the terms and conditions.

Cancellation/Liquidated Damages.  If the winning bidder fails to comply with any of the foregoing or subsequently defaults under the Terms and Conditions, the sale may be cancelled by the seller with the approval of Bidnanza. 

Extensions.  In certain cases, the seller may grant an extension of the payment and pickup removal date. The seller may require the winning bidder to pay a fee for such an extension. This fee will not be credited towards the total purchase price. All extension requests are evaluated by the seller on a case-by-case basis and may be granted or denied at the seller’s sole and absolute discretion. 

GENERAL AUCTION INFORMATION

Sellers and auctioneers reserve the right to deny or expel anyone from the auction site for interference with the auction activities, nuisance, canvassing, solicitation, or any other reason. Sellers and auctioneers reserve the right to deny any person the ability to bid and/or access to the online bidding platform for interference with the auction activities or any other reason. The seller and auctioneer have the right to postpone or cancel the auction, to withdraw any vehicle from the auction, and to change any terms of the auction or particular conditions of sale upon announcement prior to or during the course of the auction. Announcements made by the auctioneer on BiDNANZA.com shall supersede and take precedence over all prior oral or written terms and conditions, including these terms and conditions. The auctioneer may postpone or cancel the auction, rearrange the order or sequence of the auction, modify the auction terms and conditions, reject any or all bids, and/or advance the auction. In the event of a dispute among bidders, the auctioneer shall make the sole and final decision to either accept the final bid or to re-offer and resell the vehicle in dispute.

Offers made during the auction are void where prohibited by law. Any information on any website, in any brochure, email, or postcard, and any and all information available regarding the vehicle shall not constitute an offer to sell or a solicitation of any offer to buy any of the vehicles referenced herein. In addition, and without limitation of the foregoing, any website or brochure shall not constitute an offer to sell or a solicitation of any offer to buy, nor shall there be any sales of any of the vehicles in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the applicable securities laws of that state. Neither the seller nor the auctioneer is making any representation or warranty as to the manner in which the sale process will be managed. No obligation to sell shall be binding on the seller unless and until a written contract of sale or purchase agreement is signed and delivered by the seller. The seller reserves the right to rescind any oral acceptance of a winning bid prior to the execution and delivery of an executed contract of sale or purchase agreement for any reason, including the receipt of a subsequent higher bid, whether or not such subsequent bid was made within the time frames set forth in these Terms and Conditions.

DISCLAIMER 

Neither the seller nor the auctioneer makes any representations or warranties as to the accuracy or completeness of any information contained online at the auction website, in the auction brochure, vehicle posting, or as otherwise made available by the seller or auctioneer. All prospective bidders are required and encouraged to conduct their own due diligence and investigate all matters relating to the vehicles that they are interested in purchasing at the auction. Online bidding is provided on an "as is, as available" basis. No warranties, expressed or implied, including, but not limited to, those of merchantability or fitness for a particular purpose, are made with respect to the online bidding platform or any information or software therein. Neither the seller nor the auctioneer will be liable for any damages or injury caused by, including but not limited to, any failure of performance, error, omission, interruption, defect, delay in operation of transmission, computer virus, or line failure. Neither the seller nor the auctioneer will be liable for any damages or injury, including but not limited to, special or consequential damages that result from the use of, or the inability to use, the website, the materials on the website, or the online bidding platform, even if there is negligence or the auctioneer or an authorized auctioneer representative has been advised of the possibility of such damages, or both. The above limitation or exclusion may not apply to you to the extent that applicable law may not allow the limitation or exclusion of liability for incidental or consequential damages. The auctioneer's and seller's total liability to you for all losses, damages, and causes of action (in contract, tort (including without limitation, negligence), or otherwise) will not be greater than the amount you paid to access the website or bidding platform.

Upon registering as a Bidder and bidding during the Auction, each Bidder shall be deemed to represent, warrant and agree that with respect to each vehicle it bids upon (a) that such Bidder has examined, or has had the opportunity to examine, the vehicle and is familiar with the physical and legal condition thereof and has conducted such investigation of the vehicle as the Bidder has considered appropriate, (b) neither Auctioneer, or Seller, nor any affiliate, agent, officer, employee or representative of either of them has made any verbal or written representations, warranties, promises  or guarantees whatsoever to the Bidder, expressed or implied, and in particular, that no such representations, warranties, guarantees, or promises have been made with respect to the physical condition, operation, legal condition, or any other matter or thing affecting or related to the vehicle and/or the offering or sale of the vehicle, (c) Bidder has not relied upon any representations, warranties, guarantees or promises or upon any statements made or any information provided concerning the vehicle, including but not limited to on-line at the Auction website or the information provided or made available by Auctioneer or  Seller. 

Upon registering as a Bidder and bidding during the Auction, each Bidder shall also be deemed to represent, warrant and agree that (a) any information provided or to be provided by or on behalf of the Sellers with respect to the vehicle including, without limitation, all information contained online at the Auction website and in the information being made available to Bidder by Seller and Auctioneer, was obtained from a variety of sources and that Sellers and Auctioneer have not made any independent investigation or verification of such information, and make no representations as to the accuracy or completeness of such information, (b) without limiting the generality of the foregoing, neither Auctioneer nor Sellers shall be under any obligation to disclose to any Bidder, and shall have no liability for its failure to disclose to any Bidder, any information known to them relating to any vehicle except as may be required by law, including but not limited to, any and all outstanding liens, encumbrances, assessments, dues, fines and/or penalties, and (c) Sellers and Auctioneer are not liable or bound in any manner by any oral or written statements, representations or information pertaining to the vehicles. 

Conclusion

Bidnanza.com recommends you never give anyone your personal information, especially your social security number or banking information. We recommend you only pay the seller using a credit card. Unfortunately, there are people who would rather be dishonest than honest. Please be careful. A wire money transfer is the same as cash. We recommend you only pay using a safe payment method.  

Bidnanza.com recommends you carefully inspect the vehicle you are buying in person or have a knowledgeable mechanic inspect it. Bidnanza.com recommends you inspect the vehicle title carefully to be sure the vehicle is lean-free and the person selling it is the real owner. We also recommend being extra careful when considering “REBUILT” titles. A seller’s version of the damage might be far less than the actual damage.  

Most buyers and sellers are honest, but you need to be careful. We wish you the best of luck!