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| Cowan Alexander, LLC Proxy Bid Terms and Conditions Updated April 12, 2002 |
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If you are unable to attend an auction in person or via WebCast and would still
like to bid on assets, you can complete this Proxy Bid form. You must submit this proxy form at least 2 hours prior to the start of the auction. The amount specified on the proxy form does not include taxes, buyer's premium and is considered "PER EACH". You will be charged the buyer's premium and tax in addition to the specified bid amount. As always, you are responsible for all transportation charges. EXAMPLE 1: If you specify $100 and win the bid at $100, and the buyer's premium is 13% and the tax is 10%, then your total for that item will be $124.30. EXAMPLE 2: If you specify $100 and it is a quantity lot of 5, then your bid will be accepted for $500. Using the buyer's premium and tax from above, your total will be $621.50. Lots are sold independently. If you place a proxy for lot 1 and for lot 2, but do not want either lot unless you can get both, DO NOT USE THIS PROXY form. You may be contacted by our office and be required to provide a refundable deposit of up to 25% of total proxy bid, calculated by taking the total number of lots (if applicable, quantity * bid amount), with buyer's premium and tax calculated. At the auction, one of our staff will bid for you starting and the opening bid amount and bid up to the maximum bid you indicate. While we endeavor to get your proxy to the auction floor, an auction is a fast paced and dynamic event and there is no guarantee, expressed or implied, that your proxy bid will reach the auction floor in time to be recognized by the auctioneer. You must register for the WebCast prior to completing this form as you will need the paddle number you receive in your confirmation e-mail to complete this form. If you auction is not listed in the selection box then the auction is no longer accepting proxy bids. |
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