Participation Terms Per Receiver

EVERYTHING SELLS AS IS – NO WARRANTIES EXPRESSED OR IMPLIED:

All equipment is sold “AS IS”, “WHERE IS” with no warranties or guarantees, expressed or implied by the Seller and Ferdose al-Taie, Receiver (“Reliable One Resources, Inc, ”). All sales are final.

There shall be no returns, exchanges, or refunds for any reason. All property is sold “as-is”. It is the bidder’s responsibility to determine the nature, condition, and state each item is purchased.

Receivership-Auctions

Receivership-Auctions is a platform being used by Ferdose al-Taie, Receiver to conduct court approved online and live auctions of property and misc items for Receivership Estates. Receivership-Auctions.com is a website used to conduct these auctions. The auctions are judicial sales conducted pursuant to Order of the United States District Court for the Eastern District of Texas.

See www.reliableonereceivership.com

Disclaimer of warranties

There are no understandings, agreements, representations, or warranties, express or implied not specified herein, respecting this contract or the item or property sold hereunder, including not limited to the merchantability or fitness for a particular purpose. Information about the property be sold is provided from records acquired by Receivership-Auctions that is a Receiver who acquired the property pursuant to Court Order. The Receiver has no personal knowledge of the property and while the information provided is believed to be reliable all buyers must rely solely on their examination of the property and its condition.

Inspections

It is the responsibility of the buyer to conduct their own inspection. No testing or operational assessments have been made by Receivership-Auctions. Contact Receivership-Auctions prior to bidding to answer any questions regarding any item. Inspection of the vehicles may be made by appointment. All known material facts conveyed to Receivership-Auctions have been disclosed. The buyer is accepting the property “as-is”. Documents regarding each item are available online with the lot if any documents exist on item. These documents have been collected by the Receiver and are believed accurate but as the Receiver did not prepare the documents nor was involved in purchase of the lot their accuracy cannot be assured.

Internet Bidding

This is a live and online Auction. All bids will be entered online or in person at the Auction. The highest bid online when the bidding closes will be the winning bid for the item. By placing a bid, you agree to all the terms and conditions (including the General Terms) which may be set forth by Receivership-Auctions and Receiver (Ferdose al-Taie, as Receiver) and expressly acknowledge and affirm that you have read and are familiar with the terms and conditions. Bidding will be controlled by Receivership Auctions. Be prepared to bid accordingly. No bidding by the sellers will be allowed for absolute auctions or after a Reserve is met. The Receiver may close an auction and determine a winning bidder or withdraw an item from auction at any time. All sales are final as is the determination of the winning bidder by Receivership-Auctions.

Auctioneer’s Discretion

The content displayed on the Receivership-Auctions website may contain inaccuracies and typographical errors and we do not warrant the accuracy or completeness of the content or that any defects will be corrected. Any reliance on any such content, advice, statement, or other information shall be at your sole risk. We reserve the right, in our sole discretion, to correct any errors or omissions in any portion of the online bidding service and to make any changes to the features, functionality, or content at any time.

Choice of Law, Venue & Jurisdiction of Disputes

The law of the state of Florida shall govern the interpretation of any and all disputes or other matters relating to the subject sale and/or stemming from the auction sales. Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor, or otherwise, is created between bidder and Ferdose al-Taie Receiver. Any dispute shall be resolved before the SEC v. Reliable One Resources, Inc (The United States District Court for the Eastern District of Texas) in summary proceedings without a jury. Prevailing parties shall be entitled to their cost and attorney’s fees.

Auction Software

Receivership-Auctions will not be held liable for any software or software malfunction discrepancies.

Bidding Closure

The auction will be conducted live and online and will terminate when the Receivership-Auctions accepts a bid. The Receiver can accept a bid at any time and may withdraw an lot from the auction at any time.

Register

All bidders must register and be in good standing with Ferdose al-Taie-Receiver to bid on items listed on the online auctions. Bidders must satisfy financial qualifications as required by Receivership-Auctions and receive approval prior to being allowed to bid. Ferdose al-Taie-Receiver reserves the right to remove a bidder for any or no reason.

Photos

Please consider the photos as only part of the buying process and not the definitive authority. Photos may or may not depict all the positives or negatives of an item. These photos and descriptions are to be used as guidelines only. All bidders are responsible for their own personal inspection of the item(s).

Odometer/Mileage/Hours

Odometer, Mileage & Hour Meter are assumed to be correct. However, these assumptions do not constitute a guarantee. It is up to the BUYER to validate the accuracy of the reading during the inspection process. Receivership-Auctions is not liable for any inaccuracies pertaining to the odometer, mileage, or hour meter readings. Receivership-Auctions has no knowledge of the history of these vehicles except as provided in the documentation made available.

Bidding by Owners or proxies

As Receivership-Auctions bidder, you agree to never bid on your own items in an absolute auction or after reserve has been met. and you will not bid on behalf of any other seller in an absolute auction or after a reserve has been met. Violators will be banned from future Receivership-Auctions auctions without notification and will be subject to legal action.

Reserve

Ferdose al-Taie Receiver () has the ability to protect its merchandise with a minimum selling price. Reserve prices are designed to protect the owner of an auctioned item from an unfavorable outcome. Receivership-Auctions may withdraw any lot from the auction and all lots are subject to prior sale. Consigners and Affiliates have the right to bid until the reserve price is met. Consigners are not authorized to bid beyond the agreed reserve. Consignors may not bid on their lots in an absolute auction.

Auction details page

The auction details page contains the auction specific terms, location details, and category list for the auction. The auction details page can be accessed by clicking the auction title

First bid notice

By placing a bid in an auction, you will be agreeing to the auction terms and conditions as contained here and specified elsewhere on the Recievership-Auctions.com website.

Buyer’s Premium

A Buyer’s Premium shall be added to all winning bids resulting in a total purchase price exclusive of any applicable taxes. The Buyer’s Premium amounts are 5% for amounts up to $1,000,000, 2.5% on amounts from $1,000,000 to $2,500,000 and 1% on purchase amounts over $2,500,000.

Taxes

To comply with state and local sales tax requirements, it is necessary that we have in our files a properly executed exemption certificate from all of our customers who claim sales tax exemption. Buyers are responsible for all sales and transfer taxes.

Receivership-Auctions will NOT release equipment until we receive any necessary and properly executed tax exemption form or until required taxes, if any, are paid (Buyers Responsibility). We need the sales tax form from the state in which the equipment was sold, not from the state in which you are located. Guidelines and regulations regarding tax exemptions may vary between states. Receivership-Auctions does not provide any legal or tax advice. Please consult your advisors.

Invoicing

An invoice with payment instructions will be sent to each successful buyer’s registered email at the close of bidding. If you do not receive an invoice via your email within 24 hours after the close of the auction, please contact us at 727-235-6769 immediately.

Bidder’s Payment

Payment instructions will also be included on your invoice. Successful bidders must contact Receivership-Auctions within 24 hours after receiving their invoice to confirm their method of payment.

Payments must be received within 48 hours after the conclusion of the auction absent written extension from Ferdose al-Taie Receiver.
Any payment received between 7 to 14 days after the conclusion of the auction, the buyer will be assessed a 2% fee on the invoice total.
If payment is not received within 14 days after the conclusion of the auction, the buyer will lose all rights, title, and interest to the property, including any and all moneys. Buyer shall remain responsible for any damages or expenses incurred by Ferdose al-Taie, Receiver as a result of any buyer default.
All transactions must be paid by wire transfer.
NO equipment will be released until payment is made in full. Ferdose al-Taie Receiver will after payment clear all encumbrances on the vehicles and deliver title promptly to the Buyer.
All funds wired to Ferdose al-Taie receiver will be held in a trust account with Ferdose al-Taie, PA and used to satisfy any incumbrances on the items sold. No funds shall be released to Ferdose al-Taie Receiver until all encumbrances and liens are satisfied and the item and or title thereto is delivered to the buyer.

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Payment procedures

Payments will be made directly to Ferdose al-Taie-Receiver. They will be deposited into the Receiver's trust account , and disbursed to satisfy liens and distribute funds to the Receiver upon delivery of property to Buyers…

All payments for purchased items shall be made by wire transfer.

Wire Instructions:

Wiring instructions will be included with invoice sent to the winning bidder.

Credit card

Credit Cards may be used for the payment at the time of Registration or administrative processing fees. Payments by credit card may only be used for such fees. Auction items may only be paid for by wire transfer.

Titles

There will be a $100 title processing fee applied to all items requiring a Department of Motor Vehicles tag. Buyers will be contacted via email the day of the auction in regard to titling information. The Receiver will require title information including name(s) and complete address via email. The title will be mailed to the buyer via certified mail as soon as possible after receipt of payment, regardless of payment type.

**ALL TITLES WILL BE ENDORSED, UNDER NO CIRCUMSTANCES WILL ANY OPEN TITLES BE ISSUED**Removal of Items

All items shall be removed from Warehouse or Stroage subsequent to the auction at the buyer's sole expense and risk. Items shall be removed within 72 hours of notification to the buyer by Ferdose al-Taie Reciever or a member of his receivership that the item is available for removal. Should any item not be removed within that time period storage fees shall apply. Any extension of these deadlines shall be in writing signed by Ferdose al-Taie Receiver.

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