HMR AUCTION

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Terms & Conditions

Terms and Conditions of Online Auctions

HMR Auction Services Inc. (for convenience referred as HMR Auction) affords qualified bidders the opportunity to participate in HMR Auction’s online auction. Bidder agrees that the terms listed below shall govern each online auction sale.

Auction Duration

Auction dates and times are set by the Seller and are subject to change without notice.

Registration

All information provided by the bidder during the registration process must be current, complete, and accurate. Bidders must be 18 years of age or older. HMR Auction at its sole discretion may deny registration to anyone. Currently, no fee is charged for registering. HMR Auction reserves the right to charge minimal registration fee in the future.

Eligibility for Specific Auctions

Sellers may have different standards for qualifying bidders. Thus, eligibility to participate in one auction does not necessarily guarantee the right to join in any other auction.

Bidding Process

All property sells on an “AS IS, WHERE IS” basis with no warrantee or guarantee, express or implied unless otherwise specified on the item listing. Inspection of the property before the bidding is strongly encouraged. Written or verbal descriptions from the seller, sellers’ agent, HMR Auction are not guaranteed.

HMR Auction is not the owner of the property being auctioned unless otherwise stated in the item listing and merely acts as an agent for the sellers. RESERVE PRICES if any ARE NOT DISCLOSED. By placing a successful bid you are entering a binding agreement with the seller. All auctions will start at a minimum bid price unless specifically stated. Bids are subject to seller’s confirmation. The descriptions of items or lots appearing in the auction and in the accompanying advertising are believed to be correct. Nevertheless, neither those descriptions nor any oral statements made by Owner/Seller or HMR Auction concerning any items or lots shall be construed as a warranty, either express or implied.

Bid increases based on the bid increment set for the item being auctioned. Bidder could simply place a maximum bid and the automatic bidding process places the bid on bidders behalf based at the lowest possible increment. The goal of automatic bidding (or proxy bidding) is to allow a bidder to win the auction at the lowest possible price. A bidder’s maximum bid is only placed when another bidder also bids up to that amount or when the reserve price is equal to or greater than the maximum bid. Bids will increase based on the bid increment set for the auction. Therefore, the current bid will equal the former bid plus the bid increment.

Example 1: The current bid for an item is Php1,000.00, and the bid increment is Php100.00. Bidder X chooses automatic bidding and enters a maximum bid of Php 5,000.00, Bidder X becomes the highest bidder and the current bid reads Php1,100.00.

Example 2: An item's start price is Php1,000.00 and the bid increment is Php1,000.00. Bidder X chooses automatic bidding and enters a maximum bid of Php 5,000.00. Bidder X is the current highest bidder at Php1,000.00. Then Bidder Y enters a maximum bid of Php 4,000.00. She is immediately outbid. The current bid is now Php 5,000.00 since Bidder X has a higher maximum bid.

Bidder acknowledges that he/she has the right and responsibility to inspect the item(s) personally or to have a third party representative inspect the item(s). By bidding on the item bidder agrees to accept the item in its present condition and location and with the description provided, whether accurate or not. By using the online auction services and by bidding, the bidder is making a firm commitment to purchase the item.

Upon acceptance of the bidder’s bid on an item, risk of loss and damage to the item transfers to the bidder. The date when the item must be removed from the stated location is posted along with the item listing, otherwise it must be removed within five (5) days from acceptance of the bid. Bidders who fail to pick up purchases by the removal deadline will incur storage fees. Storage fee shall be Php50.00 per day or Php50.00 per cu. m. per day whichever is higher. Items remaining fifteen (15) days after removal deadline will be considered as abandoned, and ownership will revert to Seller, who may resell or dispose of the item(s). Any funds paid will be forfeited for failure to abide by the terms of sale.

There may be circumstances where items will be withdrawn from the auction after they are listed. HMR Auction reserves the right to do so at any time before or during the sale. The Owner/Sellers of property sold through this Site reserve the right to reject any and all bids in their sole discretion.

If the bidder fails to pay the full purchase price, the Owner, Seller and HMR Auction may exercise any remedies available to it under the law, including without limitation, a) cancel the sale and forfeit payments made by the successful bidder and/or b) re-auction, with or without reserve, the item or lot plus hold the successful bidder liable for any deficiency plus any cost of sale.

The winning bidder shall be designated at the end of each item or lot. If a dispute arises between two or more Bidders, HMR Auction reserves the right to reopen the bidding.

Payment

Successful bidders will receive an invoice via electronic mail. The invoice must be paid by the winning bidder no later than three (3) business days upon conclusion of the auction. Unless a specific auction or the electronic invoice sent to the bidder states otherwise, payments are to be made by cash or manager’s check at any HMR Auction. Offices/branches located at the address given below:

HMR Auction Services, Inc.

658 A. Bonifacio Avenue, Balintawak, Quezon City

HMR Global Trading, Inc.

Philacor Drive, Dr. A Santos Ave.

Sucat, Parañaque City

HMR Auction Services, Inc.

ETASI Warehouse, Barangay Duquit, Dau, Mabalacat, Pampanga

Payment by wire transfer is also accepted. Bank details will be reflected in the invoice sent via email to the winning bidder immediately after the auction.

Taxes

All applicable taxes and duties shall be charged to the Buyer’s account.

Indemnity

Bidder accepts responsibility for and agrees to indemnify, defend and hold harmless each Owner/Seller and HMR Auction and their employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs and expenses (including reasonable attorneys' fees and expenses) related to, arising from or associated with Bidder's, his agents or representatives, use of the Site, including but not limited to personal injuries or property damage incurred on the sale premises or during removal and transport of any auction items or lots, and arising out of, based upon, or resulting from any breach or violation by Bidder of this Site User Agreement or any use by Bidder of the Site or as a result of a dispute with another Bidder.

Termination of this Agreement

This Site User Agreement constitutes a binding agreement between Bidder and HMR Auction until terminated by HMR Auction. HMR Auction may terminate this agreement at any time, without notice in HMR Auction’s sole discretion. If Bidder dissatisfaction occurs with the auction sale in any way, Bidder's only recourse is to immediately discontinue use of the auction Site. HMR Auction reserves the right to terminate Bidder registration and use of the auction Site, and impose limits on certain features of the auction Site or restrict Bidder's access to, or use of, part or the entire Site without notice or penalty.

Interruption of Service

HMR Auction cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. Bidder acknowledges that this auction is conducted electronically and relies on hardware and software that may malfunction without warning. HMR Auction in its sole discretion, may void any sale, temporarily suspend bidding and re-sell any items or lots that were affected by any malfunction. The decision of HMR Auction is final.

Contact Information

Should you have any questions, please call (632) 367-3015 to 16, Fax (632)367-3019.

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