XTi-18 Supercycle Bicycle

1. By accepting these terms and conditions buyer acknowledges that they have read and understood the agreement and further agrees to read and be bound to the additional terms on our website which includes but is not limited to bidding notices and the following tabs found under Auction details: a) Auction Information b) Bid Increments c) Payment Information d) Shipping / Pickup Information. 2. By placing a bid, buyer agrees to enter into a legally binding contract to purchase the item (s) and agrees to either a) Pay in full or b) send a 20% deposit within 5 days of Auction end. If the buyer chooses option b the buyer further agrees to pay the balance within 14 days of Auction end. Bidder hereby Authorizes the credit card registered with Hibid to be charged if deposit is not made on time and understands that additional fees may be charged 3. In the event a bidder or purchaser is not able to complete the transaction they will forfeit the deposit and the item (s) will be resold at the purchasers expense. In the event the items sells for less the Auction may then sue the purchaser as for liquidated damages and the purchaser shall bear all legal costs. 4. Payment Methods: Certified Check, Interac, E-transfer, Bank Wire Transfer, Cash, Credit card (Mastercard, Visa) accepted for lots that sell for less than $10,000 only. 5. All items sold "AS IS, WHERE IS" with all faults. 6. All Descriptions believed accurate but not warranted. 7. All items are open to thorough public inspection and bidder inspection is encouraged. 8. By Placing a bid, bidder signifies that they have examined the items to their satisfaction, or that they have chosen not to personally examine and are willing to accept the risk. 9. Pickup / Shipping Information: Buyer agrees to have items picked up within 15 days of Auction end. Failure to do so may result in additional fees or the item being re-sold. Penner Auctions is not responsible for any items that may be damaged or go missing. We do not make shipping arrangements. It is the buyer's responsibility to arrange shipping. 10. All loading / unloading at your own risk. Forklift operators may assist with loading at the direction of the driver but neither Penner Auction Sales Ltd or its employees shall be liable for any damages whatsoever. 11. It is the buyers responsibility to make sure all lots have been picked up in its entirety. If you are sending an individual or trucking company, they need to know what they are picking up. We will not be responsible for items left behind. 12. Items not picked up within 30 days may be declared abandoned at our sole discretion and disposed of without warning. 13. We reserve the right to reject any bid whether winning or not at any time at our sole discretion. 14. All forms of shill bidding, including collusion, bid manipulation and bidding on lots that you, or a party that is affiliated with you, have consigned to the auction is strictly forbidden. You may not make a bid under a false name or as agent for a person who would himself or herself be prohibited from placing a bid on a particular lot. 15. Bidder understands that taxes will be charged where applicable. 16. Buyers' premium of 5% will be added to the bid price or hammer price. 17. Buyer agrees to Transfer title of any registered Vehicles / Trailer within 7 days of Auction end. We will not be responsible for any title problems that arise after 7 days. 18. Buyer acknowledges that neither Penner Auction Sales or its employees shall be liable under any circumstances for items that are missing or damaged. 19. Bidder understands that bids cannot be cancelled once they have been placed. By placing a bid you are entering into a legally binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible, legally and financially, for all auction items bid upon, whether representing one's self or acting as an agent. An online bid accepted at public auction is a legal and binding contract to purchase. Any bidder who fails to consummate a purchase will be banned from bidding at future auction events and may be pursued for civil and/or criminal violations.