ATLANTIC LAB EQUIPMENT LLC

 ONLINE AUCTION

TERMS & CONDITIONS

Welcome to Atlantic Lab Equipment LLC’s Online Auction Marketplace.  By using the services on www.atlanticlabequipment.com, you are agreeing to the following terms, including those available by hyperlink, (the "Agreement") with Atlantic Lab Equipment LLC.

Before you register for the Atlantic Lab Equipment LLC Auction (“Auction”), you must read and accept all of the terms and conditions in, and linked to, this Agreement.

DEFINITIONS: As used herein, (a) "SELLER" shall mean Atlantic Lab Equipment LLC (“ALE”) (b) "BUYER" shall mean the bidder whose offer is accepted by SELLER; (c) "EQUIPMENT" shall mean any item bid on by BUYER, and; (d) “COMPANY” shall mean the person or business entity for whom the BUYER is acting.

REGISTRATION:  The AUCTION is available only to business entities whose authorized representative completes the registration form. ALE reserves the right to accept or reject any registration for any reason whatsoever. By registering for this AUCTION, you are agreeing to these terms and conditions and acknowledge that you have created a binding legal agreement between the person or business entity for whom you are acting (“COMPANY”) and Atlantic Lab Equipment. This Agreement defines and in some instances limits your legal rights and should you have questions, you should consult legal counsel before making the decision to become a member.

OFFERS TO BUY:   BUYER may offer to purchase the Equipment ("Bid").  Each Bid is a valid and irrevocable offer to purchase the Equipment for the amount of the Bid until the listing is removed or a Bid is rejected by the seller. A Bid cannot be withdrawn except in exceptional circumstances (e.g. clear typographical errors), as determined by ALE in its sole discretion.  All Bids shall be in U.S. Dollars unless otherwise required by the listing, and shall be subject to Seller's terms of sale, if any.  If BUYER: (a) has made a Bid acceptable to the Seller; or (b) has made the highest Bid at or above the minimum amount (if any), the Bid becomes an "Accepted Bid". Once the Bid becomes an Accepted Bid, the BUYER is obligated to complete the transaction in accordance with the Accepted Bid, the terms of the listing and Seller's terms of sale.  

PAYMENT TERMS: FULL Payment for an Accepted Bid must be made to Atlantic Lab Equipment LLC no later than 10 business days after BUYER is notified that it placed the Accepted/Winning Bid.  Atlantic Lab Equipment, LLC may at its discretion offer to accept a partial deposit for items that exceed $10,000. All payments must be made by wire transfer, certified check, bank check, Company check, or approved credit card (3.5% service and handling fee will be charged if payment is by credit card). The EQUIPMENT will not be shipped until the balance due has been received in full, including fees, applicable taxes, if any, as well as shipping costs and all funds have cleared.  If COMPANY fails to pay for its purchase, or cancels its purchase other than as expressly permitted in this Agreement, Atlantic Lab Equipment LLC reserves the right to cancel the purchase and charge an administration fee equal to twenty per cent (20%) of the accepted offer. If COMPANY fails to pay because its funds were returned or rejected, Atlantic Lab Equipment LLC may charge a returned check fee of $100.00, as well as the other fees and premiums mentioned earlier in this paragraph.  In addition, amounts not paid when due will bear a finance charge at a rate equal to the lesser of one and one half percent (1.5%) per month or the highest rate permitted by law, calculated from the first day a payment is past due. If any amount is not paid when due hereunder, Atlantic Lab Equipment  LLC shall be entitled to recover from COMPANY the costs and expenses incurred in connection with collecting the same (including without limitation costs of investigation, court costs and attorneys fees). 

FEES AND SALES TAXES: BUYER agrees to pay, at the time of sale, all applicable sales or use taxes or other taxes, charges, or fees required to be paid or collected by SELLER by reason of this sale, or to provide SELLER with a valid tax exempt certificate. In the event that BUYER either fails to pay the tax or other charges as agreed to above or fails to provide a valid exemption certificate, BUYER agrees to indemnify, defend and hold SELLER harmless from any liability and expense by reason of BUYER'S failure.

INDEMNIFICATION: BUYER indemnifies, defends and holds SELLER (and its officers, directors, agents, subsidiaries, joint ventures and employees), harmless from any and all liability, claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of BUYER’S breach of this Agreement, or BUYER’S violation of any law or the rights of a third party.

SELLER’S REPRESENTATIONS/WARRANTIES:   SELLER represents and warrants that: (i) all listing information is complete and accurate in all material respects; (ii) SELLER has all right, title and interest in, or the exclusive right to sell, the Equipment; (iii) the Equipment is free from any undisclosed lien or encumbrance; and (iv) the Equipment and listing information does not infringe any third party intellectual property right or violate any law or regulation. 

TITLE: Title to the EQUIPMENT shall transfer from the SELLER to the BUYER upon proper payment. Payment shall be made and title passed to the BUYER upon BUYER’S receipt of the EQUIPMENT. Thereafter, BUYER shall be responsible for the maintenance, operation and disposal of the EQUIPMENT in accordance with applicable law. 

GOVERNING LAW: This Agreement shall be governed by and shall be construed according to the laws of the Commonwealth of Massachusetts as if executed and to be performed wholly within the Commonwealth of Massachusetts. All actions, legal or other, instituted by BUYER under this Agreement must be filed in a federal or state court located in Massachusetts. 

ARBITRATION: Any claim, dispute or controversy arising out of or relating to any interpretation, construction, performance or breach of these TERMS AND CONDITIONS shall be resolved by final and binding arbitration in accordance with the procedures and subject to the Commercial Arbitration Rules of the American Arbitration Association ("AAA") then in effect. Such proceeding shall be conducted in the Commonwealth of Massachusetts, before a single arbitrator to be agreed upon by the parties. The decision of the arbitrator shall be final, conclusive and binding on the parties.  Judgment may be entered on the arbitrator's decision in any court having jurisdiction. 

ENTIRE AGREEMENT: These TERMS AND CONDITIONS contain the entire agreement and understanding between the SELLER and the BUYER as to the EQUIPMENT and supersede all prior agreements, commitments, representations, and discussions between the SELLER and the BUYER pertaining to the sale of the EQUIPMENT. 

AMENDMENTS: We may amend this Agreement at any time by posting the amended terms on this Site. Except as stated elsewhere, all amended terms shall automatically be effective 24 hours after they are initially posted. This Agreement sets forth the entire understanding and agreement between ALE and BUYER with respect to the subject matter hereof.

LIMITATION OF LIABILITY: ATLANTIC LAB EQUIPMENT LLC MAKES NO WARRANTY, AND HEREBY DISCLAIMS ALL WARRANTIES, REGARDING ANY EQUIPMENT, PRODUCTS OR SERVICES PURCHASED OR OBTAINED THROUGH THE AUCTION. THE EQUIPMENT IS SOLD “AS IS WHERE IS.”