Surplus to the Ongoing Operations of Panduit

Panduit

Surplus to the Ongoing Operations of Panduit

Event ended on: Dec 14th, 2023 1:30 PM EST

Event type: Tender

Aucto BP: 18.00%

Location
Documents
Terms
Inspection info
About seller

1 asset location

United States

Lockport, Illinois, United States

Tax rate: 8.0000%

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Sales terms

General: These sales terms are governed by the laws of the jurisdiction in which the asset(s) are located. By participating in the Tender, the Buyer acknowledges and agrees to be bound by these sales terms.

1. Nature of Tender
This Tender is not a contract, offer, or basis for verbal agreements. Responding to this Tender does not grant any rights to the Buyer. Panduit reserves the right to accept, reject, or abandon any bid, in whole or in part, with or without notice or explanation.

2. Award and Confidentiality
Panduit may award all or part of the sale detailed in this Tender, locally or internationally. Buyers must not publicly announce or release Tender information.

3. Contact
All communication related to this Tender should be directed to support@aucto.com.

4. Confirmation of Offer
By submitting a bid, Buyer makes a firm offer for the associated asset(s). Panduit reserves the right to accept or reject any bid, in whole or in part.

5. Entire Agreement
This Agreement with the associated Removal Terms, Inspection Terms, and Payment Terms, is the complete understanding between Panduit and Buyer, superseding all prior oral or written agreements. No prior practices or dealings are part of this Agreement.

6. Removal
Payment: Payment must be remitted in full before removal can begin.
Documentation: Upon arrival, the Buyer or their authorized representative shall supply a Bill of Lading to the Seller which will include an itemized list of purchased asset(s) to be released to the Buyer. The Seller shall sign the Bill of Lading to acknowledge the release of the purchased asset(s) to the Buyer.
See the Removal Terms for the additional details.

7. Inspection, Indemnity, and Disclaimer
All assets are sold "as is, where is" without any warranties or guarantees, either express or implied. The Seller makes no representation or warranty as to the condition, functionality, or suitability of any asset for any particular purpose. The Buyer acknowledges and agrees to the Inspection Terms. See Inspection Terms for details.

8. Indemnity
The Seller shall be indemnified and held harmless from and against all claims, damages, losses, and expenses arising out of or resulting from the sold asset(s). The Buyer acknowledges and agrees that upon pickup of the asset(s), the Buyer assumes all risk, responsibility, and liability for the asset(s) and their use. The Buyer accepts responsibility for injuries or damages related to picking up the Goods and releases Panduit from all liability.

9. Survival
Buyer's obligations under this Agreement survive its completion or termination.

10. Amendment in Writing
Any amendments to this Agreement must be in writing and signed by authorized representatives of both parties.

Removal terms

Payment: Payment must be remitted in full before removal can begin.

Documentation: The Buyer or their authorized representative shall supply a Bill of Lading to the Seller which will include an itemized list of purchased asset(s) to be released to the Buyer. The Seller shall sign the Bill of Lading to acknowledge the release of the purchased asset(s) to the Buyer.

The Buyer must submit a Removal Proposal along with their bid that details the Buyer's proposed plan and timeline for dismantling & loading out the line, as well as their intended vendor of choice. Buyers must dismantle the asset(s) using their own pre-approved vendor. Buyers must submit their Removal Proposal via email to support@aucto.com. The Buyer is solely responsible for scheduling materials, equipment, and labor to remove and load the purchased asset(s) and for all associated costs. The Seller will not provide dismantling assistance in any capacity. The Seller reserves the right to reject any vendor at the Seller’s sole discretion. For loading specifically, the Buyer may either use the Seller's pre-approved vendor and agree to pay the quoted loading cost or, they may use their pre-approved vendor for loading. Should the Buyer opt to use the Seller's pre-approved vendor, the pre-approved vendor will ONLY assist with loading, not dismantling. The Buyer may designate a shipping vendor to complete a pickup appointment on their behalf and may delegate them as the point of contact for the pickup appointment(s).

Payment terms

All payments must be made through the Aucto Payment Gateway (APG).

Buyers have below options to send payments:
- Wire Transfer
- ACH - Automated Clearing House (US)
- EFT - Electronic Funds Transfer (Canada)
- Credit Card (ONLY available for sale orders less than 5000 USD or 5000 CAD)
- Instructions will be available via APG to winners after a sale has concluded.

Aucto will NOT accept Cash, Check, E-Check, Cashier's Check or Bank Drafts as payment options.

Unless specified by the seller in the "Sale Terms", all payments are due within 24 hours of a sale
order being delivered.

Please submit tax exemption forms to support@aucto.com with your sale-order number in the
subject line. Local tax laws may apply to Aucto Buyer’s Premium (Aucto BP or ABP). In most
situations, tax on Aucto BP is not subject to tax exemption.
Inspections are conducted by appointment only. To request an inspection appointment, the Buyer must have a valid Aucto account. Please email support@aucto.com with your name, Aucto account email address, and preferred inspection date. The Seller will accommodate inspection requests to the best of their ability.
Selling since2023-10-10
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