The University of Tennessee Health Science Center
Memphis, Tennessee 38163
Online Sales – Terms and Conditions
All bidders and other authorized participants of this auction agree that they have read and fully understand these terms and agree to be bound thereby.
Guaranty Waiver. The Seller (The University of Tennessee) represents to the buyer that said property is free of all liens and encumbrances and the Seller holds the title. The property is sold “AS IS, WHERE IS” without warranty as to usefulness, size, weight, or condition. Further, the Seller makes no warranty, guarantee, or representation of any kind expressed or implied as to the merchantability or fitness for any purpose of the property offered for sale. Statements or information provided by University of Tennessee employees are not to be considered as a warranty or guarantee of any sort. The Buyer is not entitled to any payment for loss of profit or any other monetary damages – special, direct, indirect, or consequential.
Description Warranty. Seller represents to the Buyer that the property offered for sale will conform to its description. Any claim for misdescription must be made prior to removal of the property. If Seller confirms that the property does not conform to the description, Seller will keep the property and refund any money paid. The liability of The University of Tennessee shall not exceed the actual purchase price of the property. Please note that upon removal of the property, all sales are final.
Personal and property risk. Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the Seller and GovDeals from any and all liability therefore.
Inspection. Most items offered for sale are used and may contain defects not immediately detectable. Bidders may inspect the property prior to bidding. Bidders must adhere to the inspection dates and times indicated in the item description or contact Mike Smith, phone: (901) 448-2550 fax: (901) 448-2960, or e-mail: email@example.com to schedule an inspection.
The University of Tennessee reserves the right to reject any and all bids and to withdraw from sale any of the items listed, when considered in its best interest. The University of Tennessee also reserves the right to bar further bidding by individuals or businesses that fail to pay for awarded items or that fail to adhere to these terms and conditions.
Buyer’s Certificate. Successful bidders will receive a Buyer’s Certificate by email from GovDeals. This certificate must be presented when making payment to Seller.
Buyers Premium. A 5% Buyers Premium will be added to the final selling price of all items in addition to any taxes imposed.
Payment. Payment in full is due not later than five (5) business days from the time and date of the Buyers Certificate. Payment must be made electronically through the GovDeals Website. Acceptable forms of payment are:
· Wire Transfer
· American Express
PayPal and Credit Card purchases are limited to below $5,000.00. If the winning bid plus applicable taxes, if any indicated, and the buyer's premium, equals more than $4,999.99, PayPal and Credit Cards may not be used. If Wire Transfer is chosen, a Wire Transfer Transaction Summary page will provide payment and account information. The Wire Transfer must be completed within five (5) days.
Removal. All items must be removed within ten (10) business days from the time and date of issuance of the Buyer’s Certificate. Purchases will be released only upon receipt of payment as specified. Unless otherwise indicated in the item listing on the GovDeals website, successful bidders are responsible for loading and removal of any and all property awarded to them from the place where the property is located as indicated on the website and in the Buyer’s Certificate. The Buyer will make all arrangements and perform all work necessary, including packing, loading and transportation of the property. Property may be removed between the hours of 8:00 am and 3:00pm, Monday through Friday, excluding legal holidays. Buyers must call in advance to schedule a pick-up. For additional information, please contact Mike Smith, phone: (901) 448-2550, fax: (901) 448- 2960, or e-mail: firstname.lastname@example.org
Vehicle Titles. Seller will issue a title or certificate upon receipt of payment. Titles may be subject to any restrictions as indicated in the item description on the website. Open titles cannot be issued. Replacement titles will not be issued.
Default. Default shall include (1) failure to observe these terms and conditions; (2) failure to make good and timely payment; or (3) failure to remove all items within the specified time. Default may result in termination of the contract and suspension from participation in all future sales until the default has been cured. Seller reserves the right to reclaim and resell all items not removed by Buyer ten (10) business days from the time and date of issuance of the Buyer’s Certificate. If the Buyer fails in the performance of their obligations, The University of Tennessee may exercise such rights and may pursue such remedies as are provided by law.
Acceptance of Terms and Conditions. By submitting a bid, the bidder agrees that they have read, fully understand and accept these Terms and Conditions of Online Sales, and agree to pay for and remove the property, if the bid is accepted, by the dates and times specified.
State/Local Sales and/or Use Tax. Buyers may be subject to payment of State and/or local sales and/or use tax. The University of Tennessee is not responsible for collection of taxes. Buyers are responsible for contacting the appropriate tax office, completing any forms, and paying any taxes that may be imposed. A copy of the sales receipt may be provided to the appropriate tax collection agency.
Sales to Employees. Employees of The University of Tennessee and the State of Tennessee may purchase surplus property of The University of Tennessee only at public auction or by Internet auction (using a personally-owned computer on personal time).
Legal Sanctions. It is a felony punishable by a fine of $5,000 to $10,000 and/or imprisonment from one to ten years for any person to make any arrangement, contract, agreement, trust, or combination of these among persons or corporations which is designed to or tends to control the price The University of Tennessee or the State of Tennessee receives for such property or the cost to the purchaser of such property. In addition to this penalty, a University or State employee who violates this provision may be removed from state employment and prohibited from such employment for five (5) years.
Legal Capacity. By submitting a bid, the bidder agrees that he/she is of legal age and capacity to enter into binding contracts.
Governing Law. Use of the GovDeals website to bid on property offered by The University of Tennessee and any resulting sales shall be governed by the laws United States of America and the State of Tennessee without reference to rules governing choice of laws. Any action relating to use of the GovDeals website and any resulting sales must be brought in the Federal or State Courts located in Nashville, Tennessee and you irrevocably consent to the jurisdiction of such courts.