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For Additional Information Contact:
Carlos Cuellar at 713.429.4544 or ccuellar@asset-auctions.com

Important Dates & Deadlines:
Inspection / Removal Contact: Carlos Cuellar at 713.429.4544 or ccuellar@asset-auctions.com
Inspection: By appointment ONLY
Payment Deadline: Within 48 hours of receipt of the invoice
Removal Deadline: Negotiable

Commonly Needed Links
Download this Seller's Sales Agreement
Retrieve Your Bidder Number and Password
Bid by Mail Using an Absentee Form
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Terms & Conditions

ALL ITEMS ARE SOLD AS-IS, EXW BAKU, AZERBAIJAN, AND WITH ALL FAULTS
ALL AWARDS ARE SUBJECT TO SELLER APPROVAL. BP Azerbaijan reserves the right to reject any and all bids.

BP Azerbaijan Award, Payment and Export Process
1. Each market leading bidder must deposit 5% of their high bid amount, with Asset Auctions, to be considered for award. Asset Auctions will email the market leading bidders’ instructions on how to make the deposit after the auction closes. Deposits are refunded, less the 10% Buyer’s Premium, when BP Azerbaijan confirms receipt of 100% of the invoiced amount to Asset Auctions. Deposits are fully refunded if the high bidder is not awarded.
2. Asset Auctions sends BP Azerbaijan the high bid amount, for each lot, as a formal offer to purchase from each high bidder. All bids are legally valid quotations - all bids made by bidders are contractually binding and the selected winning bidder is required to complete all transactions. In addition, all bids are contractually binding through the entire BP Azerbaijan award and payment process.
3. Award will take BP Azerbaijan approximately 6 weeks, from receipt of the formal offers from Asset Auctions. Note: the timeline from formal offer to award varies from auction to auction, 6 weeks is an estimate.
4. BP Azerbaijan will invoice the awarded buyers.
5. The awarded buyer must pay 100% of the BP Azerbaijan invoice amount; payment instructions will be included on the invoice. 100% of the funds must be received before BP Azerbaijan will begin the export process.
6. Export of the paid in full lots will take approximately 4 weeks from BP Azerbaijan’s receipt of the funds. Note: the timeline for export will vary from auction to auction, 4 weeks is an estimate.

Buyer’s who fail to complete their purchase and the removal may be precluded from participating in future sales. In addition, if the Buyer does not remove an item within the stated removal period, AssetAuctions and the Seller may, at their sole discretion, charge additional fees or consider the item abandoned. The buyer will forfeit all rights to the abandoned items and any money paid for such items.

Attached Conditions of Sale Agreement and its terms are required conditions of sale. Buyer should carefully review terms prior to bidding. Please note that paid in full awards will not be released until the required Agreement has been presented to BP Azerbaijan.

Late payment; failure to complete sale: If the awarded bidder fails to pay the purchase price and other fees before the payment deadline then the awarded bidder must pay a late fee equal to 2% of the purchase price to AssetAuctions. If the winning bidder fails to make full payment of the purchase price and other fees, such bidder is in default and forfeits its rights to purchase the goods, in which case the Seller may sell the goods to another bidder. A defaulting bidder will be assessed a Default Penalty of the lesser of $2,000 or his complete invoice, and will be barred from bidding on other auctions on the marketplace until the Default Penalty is paid. The Default Penalty must be paid by a method agreed to by AssetAuctions. The defaulting bidder may be subject to other claims, damages or liabilities to the Seller and/or AssetAuctions.

Accepted payment methods :
BP Azerbaijan will provide payment method instructions in the invoice.

This auction carries a 10% buyer's premium.
There will be no adjustments to the final bid price after the bidding closes.

Buyers are strictly forbidden to send any third party customers onto property for the sole purpose of inspection of equipment for possible resale.

Item Inspection, Description and Condition:
Seller does not guarantee accuracy of descriptions. Descriptions have been obtained from sources believed to be reliable, however prospective buyers are strongly encouraged to inspect the property. Bidders should avail themselves of the opportunity to inspect the items for sale. It is the responsibility of the buyer to assess equipment condition and specifications to their satisfaction prior to bidding.

Auctioneers Note:
Both AssetAuctions and the Seller want all of our buyers to feel they have been treated fairly and pay a fair price for the items based on their condition. Please do not enter a bid at a price that is greater than you are comfortable paying for any individual item based on its condition. There will be no adjustments to the final bid price after the bidding closes.

All items are being sold AS-IS. Any notes or descriptions are for information only, you need to make your own decisions based on your own observations. Items often sell at very reasonable prices but sometimes need minor to major mechanical and/or cosmetic work. If you want to have a high level of confidence you MUST inspect for yourself and make decisions based on this inspection. We strongly urge you to inspect on the pre-assigned inspection dates that will be posted on our Web site. There will be no adjustments to the final bid price should you find any problems with the item after the bidding closes.

Insurance Requirements:
Buyers are required to comply with any safety or removal requirements sent forth by the Seller.

Asset Removal:
Buyer is required to remove all items in the lots purchased, per the Sale and Purchase Contract. All removal shall be at the expense, liability and risk of the Buyer. If the Buyer does not remove an item within the stated removal period, AssetAuctions and the Seller may, at their sole discretion, deem the Asset to have been abandoned by the Buyer and the Buyer will have no further rights with respect to the Asset. In most cases Buyers, outside contractors, including riggers and machinery movers, will not be allowed to work on the Seller's premises until they have provided proper insurance, protecting AssetAuctions, the Seller and the landlord from all and any claims resulting from their actions.