Terms & Conditions

The following is a legally binding contract between you and IPM Ltd ("IPM"). This determines your contractual relationship with IPM and your conduct on the site. These terms and conditions shall be referred to as "The Agreement" by confirming your acceptance of these terms and conditions you are agreeing to be bound by them and committing yourself to any bid you submit or to any item you offer for sale by tender.

1. Basis of Agreement
This agreement outlines the rights and obligations of IPM Limited (IPM) and all users of the site including those who place items for sale by tender on the site (the Vendors) and those who bid for items placed for tender on the site (the Purchasers). Salvage shall refer to damaged/stolen and recovered, new or used equipment, however stated.

2. Operation of Tender Services
The tender process allows for the sale of salvage via the website to Purchasers in accordance with this agreement. The salvage/recovered equipment made available through this website is offered for tender by the Vendor or the Vendor as agent of a third party. IPM is not a party to any tender and acts only to provide the means for the sale by tender to be conducted. IPM and/or their Principals/Vendors reserve the right to foreclose or extend any or all tender processes for whatever reason at its sole discretion. IPM may refuse or remove bids or remove from sale or re-offer salvage for whatever reason including disputes, failure to reach (if any) reserves.

3. Provision of Information
IPM will provide images, data and general descriptions of items available for tender on the site. IPM will provide an indication of the general condition to the salvage in the form of images and/or general comments, however, potential purchasers should carry out their own enquiries and view the salvage prior to placing bids as IPM exclude any responsibility or liability in respect of any loss arising due to the inaccuracy of any information or any images or in respect of additional damage identified to the equipment and/or parts, attachments, which may be missing. All information is provided to the best of our knowledge and is intended to be true and accurate; however, we accept no liability for any inaccuracies.

4. Submitting a Bid by Tender
The successful tender will by the highest bid received which exceeds any reserve that may be placed against the item. Bids are not retractable and the Purchaser who places the highest bid once accepted shall be legally obliged to complete the transaction.

5. Payment and Collection
The winning bidder agrees to collect the salvage within 7 working days from the date of tender closure. On receipt of cleared funds, IPM will issue a release note giving authority to collect the equipment. Payments can be made by cheque, bankers draft; CHAPS/BACS (please note cash will not be accepted under any circumstances). Any bank charges raised relating to the purchase of salvage will be borne by the Purchaser. Title of goods shall not pass until full payment is made and funds are cleared. VAT will be charged at the prevailing rate (where applicable). Notwithstanding any other provision in this agreement IPM reserve the right to dispose of any unclaimed salvage within 14 days after auction closure by whatever means it deems appropriate. Any loss or, costs incurred, will be borne by the Purchaser who failed to honour the deal submitted in their form of tender and/or the terms of this agreement.

Where a winning bidder fails to make payment within 7 calendar days of the auction closing, a late payment fee of £15 will apply. This will be in addition to any storage charges that accrue after the 7 day period as detailed in section 6 - Collection of Salvage.

In the event that an individual, company or purchaser in any form fails to honour the payment agreement of these terms and conditions that in the event of any legal proceedings being issued for the recovery of funds that all reasonable legal costs will be met in full by the defaulting party.

6. Collection of Salvage
The Purchaser must collect the salvage from the advised storage facility within 7 working days, failure to do so will incur a cost of £15.00 per day plus VAT for every day thereafter over and above the agreements of sale. The Purchaser must contact the storage facility as soon as practically possible (not less than 24 hours before anticipated collection) to arrange a mutually suitable time and agree the process and method of removal. Failure to do this is entirely at your own risk. It is the responsibility of the Purchaser collecting the equipment to ensure a safe method of collection is carried out. IPM and/or their Principals do not accept any responsibility whatsoever for damage caused to any third party property, premises or equipment as a result of a Purchaser collecting equipment. Loading of the salvage is the responsibility of the purchaser and they should ensure transport has the facility to safely load and remove the items purchased. In the event of storage facilities being able to assist loading, it is the purchaser who has to arrange this directly and agree any costs for assistance with the storage facility.

7. Exclusions and Warranties
IPM has no liability whatsoever for any fraud or fraudulent representation by any party. All information provided by IPM is in good faith and all enquiries should be made by Purchasers to substantiate the facts regarding the equipment and fully satisfy themselves prior to placing their tender bid. IPM accepts no control over or responsibility or liability for the legality, safety or quality of salvage which are subject to tender. IPM passes all information as presented and it is the responsibility of purchasers to fulfil their own enquiries to their satisfaction. IPM will not under any circumstances knowingly publish misleading information. IPM will not under any circumstances be liable to the Vendor or any third party for monetary, economic loss or property damage of any type. Also to the generality of this exclusion IPM will not be liable for direct, indirect or consequential loss or damage, or for any loss of data, profit, revenue, income or business howsoever caused or arising. Any damage or losses incurred by any party relating to the above should be dealt with between both parties as IPM attaches no liability whatsoever. IPM accepts no responsibility for bids being placed by persons unauthorised to do so on behalf of any member; it is the responsibility of all members to keep access details secure and all bids submitted must be honoured by the individuals and/or company.

8. Indemnity
The Vendor agrees to indemnify IPM against any claim made against it whether for losses, costs and or any expenses incurred as a result of a breach of this agreement whatsoever. The Purchaser agrees to indemnify IPM against any claim made against it whether for loss, costs and expenses incurred as a result of a breach of this agreement whatsoever. This indemnity will include but is not limited to all legal costs which may reasonably be required as a result of failure to adhere to the terms of this agreement

9. Registration and Access to Website
You can now enter the registration section of the website which requires completing in full. You will be asked to provide a password, or accept the auto-generated password. Your password must not under any circumstances be passed on or revealed to any other party as any bid submitted using this password will be the responsibility of yourself and/or your company. You must accept full responsibility for any damage caused to the services or to any other Vendor, Purchaser or third party as a result of such disclosure.

10. Retention of Title of Goods And Indemnity
For the avoidance of doubt retention of title for all goods supplied remains with IPM until we are in receipt of cleared funds. Title shall not transfer until we receive payment in full. In the event of any monies being received by a third party directly for any IPM goods then any such third party holds all monies received on trust for the benefit of IPM and shall account to IPM upon demand. In the event of a third party Company receiving payment for any IPM goods the Directors of the Company hereby give a strict undertaking that the Company shall retain such monies on trust for the benefit of IPM and account to IPM on demand. In the event of any such third party Company defaulting on this undertaking then the Directors of the said third party Company hereby agree to fully indemnify IPM against all losses suffered by IPM including costs.