Buyer Terms & Conditions

BUYER TERMS & CONDITIONS — Private & Brokered Sales

These Buyer Terms & Conditions ("Terms") govern all purchases of equipment, machinery, and other tangible assets ("Assets") sold by or through BIC Auction, Inc., an Iowa corporation, d/b/a BIC Auctions ("BIC"), whether BIC is acting as the seller of its own inventory or as broker on behalf of a third-party seller ("Seller"). By making any payment toward the purchase of Assets, the buyer ("Buyer") acknowledges that Buyer has read, understands, and agrees to be bound by these Terms.

1. ACCEPTANCE OF TERMS

By submitting payment—including any deposit, partial payment, or full payment—Buyer agrees to be bound by these Terms in their entirety. No additional signature is required. It is Buyer's sole responsibility to review these Terms prior to making payment. These Terms are available at bicauctions.com/buyer-terms and are referenced on all invoices issued by BIC.

2. INSPECTION

Buyer shall have the right to inspect the Assets prior to making any deposit or payment. BIC will make the Assets reasonably available for inspection during regular business hours or at such other times as may be mutually agreed. It is Buyer’s sole responsibility to conduct any desired inspection, testing, or evaluation of the Assets before submitting payment. Once Buyer makes any deposit or payment, Buyer shall be deemed to have waived all rights to further inspection and shall be conclusively deemed to have accepted the Assets in their present condition and location, as-is, where-is, with all faults. No claim of defect, misdescription, undisclosed condition, or unsuitability shall entitle Buyer to any refund, credit, or rescission of the sale after payment has been made.

3. AS-IS, WHERE-IS CONDITION

ALL ASSETS ARE SOLD "AS-IS, WHERE-IS" WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR REPRESENTATION OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, ACCURACY OF DESCRIPTION, CONDITION, QUALITY, PERFORMANCE, OR SUITABILITY. BUYER ACKNOWLEDGES THAT BUYER HAS HAD THE OPPORTUNITY TO INSPECT THE ASSETS PRIOR TO PURCHASE AND ACCEPTS THE ASSETS IN THEIR PRESENT CONDITION AND LOCATION. BIC MAKES NO GUARANTEES REGARDING THE OPERABILITY, COMPLETENESS, OR CONDITION OF ANY ASSET.

4. ALL SALES FINAL

All sales are final. No returns, refunds, exchanges, or credits will be issued under any circumstances. Buyer waives any right to rescind, cancel, or reverse the transaction after payment has been made. This provision applies regardless of the condition, operability, or description of the Assets.

5. DEPOSITS

BIC may require a non-refundable deposit of ten percent (10%) of the agreed purchase price to hold or reserve Assets for Buyer. The deposit shall be applied toward the total purchase price. If Buyer fails to complete the purchase or make full payment within the agreed timeframe, the deposit shall be forfeited in its entirety and BIC shall have the right to sell the Assets to another party. Deposits are non-refundable regardless of the reason for non-completion of the sale.

6. PAYMENT

Buyer shall pay the full purchase price, including any applicable sales tax and fees, by the deadline specified on the invoice or as otherwise agreed in writing. Acceptable methods of payment include wire transfer, certified check, cashier's check, or such other methods as BIC may approve. Personal checks and credit cards are not accepted unless expressly authorized by BIC in writing. Payment is not deemed received until all funds have fully cleared through the banking system. BIC reserves the right to cancel the sale and retain any deposit if full payment is not received by the specified deadline.

7. SALES TAX

Buyer is responsible for all applicable federal, state, and local sales, use, and excise taxes arising from the purchase of the Assets. If Buyer claims a tax exemption, Buyer must provide a valid exemption certificate or resale certificate prior to or at the time of payment. Failure to provide proper documentation will result in sales tax being charged at the applicable rate. Buyer shall indemnify BIC against any tax liability resulting from Buyer's failure to pay applicable taxes or to provide valid exemption documentation.

8. REMOVAL OF ASSETS

a. Removal Deadline. Buyer shall remove all purchased Assets within fifteen (15) calendar days after full payment has been received and cleared ("Removal Deadline"). The Removal Deadline applies regardless of whether the Assets are located at BIC's facility, a third-party Seller's location, or any other location.

b. Buyer's Responsibility. Buyer is solely responsible for all costs and arrangements associated with the disconnection, disassembly, rigging, loading, transportation, and removal of the Assets. BIC may, at its sole discretion, provide assistance with loading or removal; however, any such assistance is provided as a courtesy only and BIC shall have no liability whatsoever for any damage, loss, or injury arising from such assistance.

c. Failure to Remove. If Buyer fails to remove the Assets by the Removal Deadline, BIC may, at its sole discretion and without further notice to Buyer: (i) resell the Assets to a third party; (ii) donate, recycle, scrap, or otherwise dispose of the Assets; or (iii) take any other action BIC deems appropriate. Buyer shall have no claim against BIC for any Assets disposed of after the Removal Deadline and shall not be entitled to any refund or credit.

d. Access and Scheduling. Removal shall be conducted during regular business hours or at such other times as BIC may designate. Buyer shall coordinate removal scheduling with BIC in advance. BIC reserves the right to deny access if Buyer fails to comply with safety requirements or facility rules.

9. RISK OF LOSS

Risk of loss, damage, or destruction of the Assets shall pass to Buyer upon the earlier of: (i) Buyer's payment in full; or (ii) Buyer's taking physical possession of the Assets. After risk of loss has transferred, BIC shall have no liability for any loss, damage, theft, deterioration, or destruction of the Assets, regardless of cause.

10. DAMAGE TO FACILITY AND PROPERTY

Buyer shall be solely liable for any and all damage to BIC's facility, the Seller's facility, other assets, equipment, structures, pavement, landscaping, or any other property caused by Buyer, Buyer's agents, employees, contractors, or carriers during inspection, loading, or removal of the Assets. Buyer shall promptly repair or reimburse BIC or the property owner for all such damage at Buyer's sole cost and expense.

11. BIC'S ROLE

a. As Broker. When BIC is acting as broker on behalf of a third-party Seller, BIC is facilitating the transaction as an intermediary only. BIC is not the owner of the Assets and makes no representations or warranties regarding the Assets. The Seller is solely responsible for the accuracy of any descriptions, the condition of the Assets, and the transfer of title. BIC's obligations are limited to its role as broker.

b. As Seller. When BIC is selling Assets from its own inventory, BIC is the seller of record. The Assets are still sold strictly as-is, where-is, and all other provisions of these Terms apply in full.

The applicable capacity will be identified on the invoice or purchase documentation. Regardless of BIC's role, all provisions of these Terms apply to every transaction.

12. INDEMNIFICATION

Buyer shall indemnify, defend, and hold harmless BIC, its officers, directors, employees, agents, and affiliates, and any third-party Seller (where applicable), from and against any and all claims, losses, damages, liabilities, costs, and expenses (including reasonable attorney's fees and court costs) arising out of or relating to: (a) Buyer's purchase, possession, use, transportation, or resale of the Assets; (b) any personal injury or property damage caused by the Assets; (c) Buyer's breach of these Terms; (d) Buyer's failure to comply with applicable laws; or (e) any claim by a third party relating to Buyer's use or disposition of the Assets.

13. LIMITATION OF LIABILITY

TO THE MAXIMUM EXTENT PERMITTED BY LAW, BIC SHALL NOT BE LIABLE TO BUYER FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, REVENUE, BUSINESS OPPORTUNITY, OR USE, REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE OR WHETHER BIC WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BIC'S TOTAL AGGREGATE LIABILITY TO BUYER UNDER THESE TERMS SHALL NOT EXCEED THE TOTAL PURCHASE PRICE PAID BY BUYER FOR THE APPLICABLE ASSETS.

14. COMPLIANCE WITH LAW

Buyer shall comply with all applicable federal, state, and local laws, regulations, and ordinances in connection with the purchase, removal, transportation, use, and resale of the Assets, including but not limited to environmental, safety, transportation, and export control laws.

15. GOVERNING LAW AND VENUE

These Terms shall be governed by and construed in accordance with the laws of the State of Iowa, without regard to its conflicts of law provisions. Any legal action or proceeding arising out of or relating to these Terms or any transaction governed by these Terms shall be brought exclusively in the state or federal courts located in Henry County, Iowa. Buyer consents to the personal jurisdiction of such courts and waives any objection to venue.

16. ATTORNEY'S FEES

If BIC is required to take legal action to enforce these Terms or to collect amounts owed by Buyer, the prevailing party shall be entitled to recover all costs and reasonable attorney's fees from the other party.

17. SEVERABILITY

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it enforceable while preserving the intent of the parties.

18. ENTIRE AGREEMENT

These Terms, together with any invoice, purchase order, or other transaction documentation issued by BIC, constitute the entire agreement between BIC and Buyer with respect to the purchase of the Assets. No oral or written statement, representation, or promise not contained in these Terms shall be binding. BIC reserves the right to update or modify these Terms at any time. The version of these Terms in effect at the time of Buyer's payment shall govern the transaction.

19. WAIVER

The failure of BIC to enforce any provision of these Terms shall not constitute a waiver of that provision or any other provision. A waiver of any provision shall be effective only if made in writing and signed by BIC.

20. ELECTRONIC COMMUNICATIONS

Buyer agrees that BIC may communicate with Buyer electronically, including by email, and that such communications satisfy any legal requirement that communications be in writing. Invoices, receipts, and notices sent by BIC to Buyer's email address on file shall be deemed delivered when sent.

BIC Auction, Inc. d/b/a BIC Auctions
301 East Henry Street, Mt. Pleasant, Iowa 52641
bicauctions.com

Last Updated: February 25, 2026