By signing where indicated below, Seller agrees to abide by the following terms and conditions regarding the inclusion of their machine(s) in the upcoming Koster Online Auction to be conducted on: May 16, 2018.

  1. Seller grants to Koster Industries Inc. an exclusive right to sell machinery through sale date listed above.
  2. Seller has the right to set an acceptable minimum reserve on its machine(s). Seller will discuss this reserve to Koster’s representative prior to the listing of the machine(s). The reserve price will be listed at the end of this agreement. If reserve price is met at auction and Seller does not want to accept for any reason, Seller will owe Koster a 15% commission as if the listing was sold.
  3. Koster Industries Inc. reserves the right to reject any and all listings as seen necessary.
  4. If seller bids on their own items, seller will be responsible for 3% of their maximum high bid.
  5. Seller warrants that to the best of their knowledge and any information regarding the machine(s) is accurate. Seller will disclose any significant and known defects to Koster prior to posting.
  6. Seller is responsible for disposal of any hazardous waste or oils relating to the machine(s).
  7. Seller warrants that the machine(s) is being sold without any liens or encumbrances whatsoever and Seller has all necessary approvals and rights to sell machine(s).
  8. Machine(s) is being sold “as is, where is” with no guarantees from Seller relating to the condition. Regardless of this, Seller will not intentionally mislead Koster or prospective bidders as to the condition of all items listed.
  9. Seller will make listings available for inspection to prospective buyers to the best of its ability and schedule.
  10. Seller will be paid in full only after removal of machine(s) from premises. Koster will hold all monies collected until purchaser completes pickup and Seller will be paid within one business day after. Koster will communicate with the Seller on paid invoices from buyers.
  11. Seller will supply buyer ample time to remove purchased machine(s), which will be by appointment only.
  12. If listings are not sold at auction, Seller will have no further obligation to Koster.
  13. Seller has the right, in its sole discretion, to lower reserve price at any time.