Here are some of the fee's you will be charged.;
3.1 ADMINISTRATIVE CHARGES AND TERMS OF PAYMENT OF THE ACQUIRED AUTOMOTIVE EQUIPMENT 3.1 For any sale of the Automotive Equipment made in the Auction or through the Purchase Option, the Bidder shall pay the Auctioneer, for each lot of Equipment acquired, administrative charges of:
**Starting july 29th 2022
a) 10% of the purchase price of the lot, applied to the portion of this purchase price that is less than or equal to $5,000 before taxes; and
b) 3.5% of the purchase price of the lot, applied to the portion of this purchase price that is greater than $5,000 before taxes; and
all titled vehicles have a 65$ fixed fee.
3.2 Any Equipment lot acquired by the Bidder, during the Auction or through the Purchase Option, for less than $10,000 before Taxes, must be paid by the Bidder on the same day the acquisition was made.For any Equipment lot acquired by the Bidder for $10,000 or more before Taxes, the Bidder will have to pay at least 25% of the total amount due on the same day of the acquisition and the remaining amount shall be payable within the following seven (7) days. Failing to meet these deadlines, the Auctioneer may consider, without having to notify the Bidder, that the Bid placed by the Bidder which permitted him to acquire the Equipment lots during the Auction has never taken place and/or that he has never exercised the Purchase Option and that, in either of these situations, the sale is automatically cancelled. 3.3 The Bidder may pay the amounts owed in cash, by debit card, bank transfer, certified cheque, bank draft or regular cheque with an irrevocable bank guarantee considered acceptable by the Auctioneer, or by credit card. A 3% fee will be applied on any amount paid by credit card since it is processed by a third party enterprise; 3.4 Any amount of money owed by the Bidder to the Auctioneer shall bear interest at the annual rate of fifteen percent (15%) after the expiry of a period of thirty (30) days from the date such amount is due 3.5 The Parties agree to a retention of the title to the effect that the transfer of property of the Equipment lots acquired during the Auction or through a Purchase Option shall only take place once the Bidder has remitted to the Auctioneer the entire amount of the purchase price as well as the administrative costs, the Taxes and any other amount that may be payable under the Contract.
