Auction and Sale Are Subject to Binding Terms & Conditions. You are registering to bid on the properties selected during the registration process, and your bid and the sale of the property are governed by the property specific Williams & Williams Contract for Sale, including all addenda, amendments, exhibits, disclosures (written and announced), and other documents attached thereto (together, the "Contract for Sale"), and the Sale Day Notes, Terms & Conditions of Sale, and Terms of Sale. Each of these documents are available for your review at the Williams & Williams property specific web page. DO NOT BID UNLESS AND UNTIL YOU REVIEW THESE DOCUMENTS. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE CONTRACT FOR SALE, DISCLOSURES, SALE DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE AND TERMS OF SALE. In the event of any conflict between Auction Network's Terms & Conditions of Service and the Williams & Williams Terms & Conditions of Sale and Terms of Sale, the Williams & Williams Terms & Conditions of Sale and Terms of Sale shall control in each instance.
No Warranty or Guarantee. Auction Network has no authority to, and does not provide any, guarantee, warranty, or covenant, of any kind or nature, regarding a property. Per the Williams & Williams Terms & Conditions of Sale and Terms of Sale, all properties auctioned are sold "AS-IS, WHEREIS" without any representation or warranty, express or implied, of any kind by Williams & Williams, Auction Network, or the seller and there are no financing, inspection or other contingencies to sale. Buyers must conduct their own due diligence and investigation of each property to determine the suitability of each property prior to submitting a bid. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Williams & Williams. Failure of a Buyer to be fully informed on the condition of a property will not constitute grounds for a claim adjustment or cancellation of a sale. Neither Auction Network nor Williams & Williams assumes any risk, liability or responsibility for the authenticity of the authorship of any property or livestock offered at auction (that is, the identity of the creator or the period, culture, source or origin, or lineage, as the case may be, with which the creation of any property is identified).
Bid Deposit Requirement & Amount. Williams & Williams requires a bid deposit from each bidder participating on-line in an auction. In most instances, the minimum bid deposit is $2,500.00 per Event and grants the bidder the right to participate in up to ten (10) property auctions in a single Event. Each on-line bidder shall have to pay an additional amount to participate in more than ten (10) property auctions or a property auction occurring in a different Event. Bidders must use one (1) credit card for the bid deposit for a single Event. An "Event" is comprised of single or multiple properties presented for auction by Williams & Williams on the Auction Network on-line platform on a single day. The specific properties and number of properties comprising an "Event" and the amount of the Bid Deposit per Property and/or per Event are determined by Williams & Williams in its sole and absolute discretion and are subject to change without notice. Please see the below table for bid deposit amounts and corresponding auction participation limits.
|Number of Properties||Bid Deposit Amount|
|1 - 10||$2,500|
|11 - 20||$5,000|
|21 - 30||$7,500|
|31 - 40||$10,000|
Bid Deposit Process. As part of the Event registration process, each on-line bidder shall be required to select the property or properties on which they desire to bid and provide a valid credit card with limits in excess of the required bid deposit amount. Williams & Williams shall place a hold on the bidder's credit card presented during the registration process in an amount equal to the required bid deposit. The bidder, by registering for the Event and presenting a valid credit card for the bid deposit, authorizes Williams & Williams to place a hold in the amount of the required bid deposit. If the bidder IS NOT declared the high bidder for any of the properties selected during registration, Williams & Williams will cancel the hold placed on the bidder's credit card within two (2) business days. Please keep in mind that your funds will not be available until your credit card issuer processes the hold. Please contact your credit card issuer for more information regarding credit card holds and the time limits associated therewith. If the bidder is declared the high bidder at the conclusion of the auction, the bidder must satisfy the requirements set forth in these Terms & Conditions, the auction Terms of Sale, and the Contract for Sale, including, without limitation, executing and returning the required Contract for Sale and the required down payment within forty-eight (48) hours of the conclusion of the auction. Williams & Williams shall cancel the hold on the bidder's credit card within two (2) business days of receipt of the required Contract for Sale and clearance of the down payment funds.
Cancellation; Liquidated Damages. If the high bidder breaches any portion of these Terms & Conditions, the auction Terms of Sale, or the Contract for Sale and/or fails to return executed copies of all required documents or the required down payment, the bidder's high bid offer shall be rejected by the seller and all rights to purchase the property, if any, shall terminate with the seller having the right to offer for sale or sell the property to another without limitation, and the bidder shall pay Williams & Williams liquidated damages in an amount equal to the bid deposit held on bidder's credit card at the time of registration (regardless of whether the bidder actually processed the bid deposit). The bidder hereby authorizes Williams & Williams to charge the credit card used to register for the Event in the amount of the hold to satisfy all or part of the liquidated damages owed to Williams & Williams by bidder. BIDDER AGREES THAT IT IS EXTREMELY DIFFICULT OR IMPOSSIBLE OR IMPRACTICAL TO ACCURATELY ESTIMATE THE AMOUNT OR EXTENT OF WILLIAMS & WILLIAMS' ACTUAL INJURY OR DAMAGE RESULTING FROM A MATERIAL BREACH OF THIS AGREEMENT BY THE BIDDER AND BASED ON THE UNCERTAINTY OF SUCH ESTIMATION, THE BIDDER AGREES THAT LIQUIDATED DAMAGES IDENTIFIED HEREIN ARE A PROPER REMEDY FOR BIDDER'S MATERIAL BREACH OF THIS AGREEMENT. THE BIDDER FURTHER AGREES THAT THE LIQUIDATED DAMAGES AMOUNT SET FORTH HEREIN CONSTITUTES A REASONABLE AND SATISFACTORY PRE-BREACH ESTIMATION OF EACH PARTY'S DAMAGES, AND SHALL NOT IN ANY WAY BE CONSIDERED A PENALTY OR FORFEITURE.
Auctioneer Powers. The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive. Any property may be withdrawn by Auction Network or Williams & Williams at any time before the actual sale without any liability therefore. If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he or she may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, he or she decides that any advance thereafter is insufficient, he or she may reject such advance.
Governing Law. These Auction Network Terms & Conditions of Service, Terms & Conditions of Use, Williams & Williams' Terms & Conditions of Sale and Terms of Sale, as well as the online buyer's rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of Oklahoma. By bidding at this auction, whether in person or by agent, order bid, telephone, online, or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the state and federal courts sitting in the State of Oklahoma.
Internet & Network Disclaimer. Auction Network, Williams & Williams, and the Seller are not responsible for technical difficulties during online or remote bidding. Occasionally, the Auction Network online bidding interface may be unable to submit bids in the live auction due technical difficulties including, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 1 day prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf.