TERMS & CONDITIONS OF SALE

SHARK FREIGHT, INC.
Fleet Reduction Auction

April 2023

1. SCOPE:

• Shark Freight, Inc. will conduct a public auction of vehicles that have been declared as surplus to their current needs.

2. AUCTION DATE:

• This auction will be a Timed Bid On-Line Auction. Bids will be received at www.natlauction.com and conducted on Proxibid.com.
• Registration for the auction will be through Proxibid.com and bidders will be required to provide credit card information as a means of verification only.
• The auction opens on April 6, 2023 at 3:00 P.M. and will end on April 13, 2023 at 3:00 P.M.
• All bids will be reported to management of Shark Freight, Inc. Bids received after the published closing time will not be accepted except those that fall under the conditions of Extensions of Bid described in the paragraph that follows.
• Extensions of Bid: In the event a bid or bids are made during the last two minutes of an auction, the ending time for the auction will be extended for an additional two minutes. Extensions will continue until no further bids are received within the last two minutes of the auction. National Auction Company and the Seller are not in control of this process.
• The vehicles being offered in this Time-Bid Auction are being sold Subject to the Confirmation of the Seller. In the event any top bid price is not confirmed by Shark Freight, the vehicle may be withdrawn from the auction and/or offered at another time at the discretion of Shark Freight. It is expected all top bid prices will be confirmed within 48 hours from the time the auction closes.
• The Auctioneer reserves the right to establish minimum amounts for opening bids. In the event bidders do not comply with minimum amounts stated, bids received that are less than those set forth will not be accepted.

3. PLACE:

• The Auction will be conducted by National Auction Company on their website, www.natlauction.com. The auction platform of Proxibid will be used for this auction event.

4. INSPECTION OF VEHICLES:

• Vehicles included in this auction are available for Preview by special appointment only. Pre Event Previews can be scheduled by appointment with the Auctioneer. Those desiring to preview the auction inventory should contact George Richards to schedule (954-658-5033).
• The vehicles are located at 850 NW 12 Terrace, Pompano Beach, Florida 33069.
• Potential bidders/purchasers will not be permitted to drive the vehicles prior to the auction. All vehicles are offered in As-Is Condition without guaranty or warranty either expressed or implied.
• Information has been provided pertaining to each of the vehicles that are included in this auction. Descriptions provided are not guaranteed but based upon the ability of the Auctioneer and his staff. Photographs and descriptions will be published on the Auctioneer’s website.
• Every effort has been made to accurately illustrate and describe the condition of the vehicles included in this auction, however, it is possible all defects were not observed.
• Specific information not included on the website can possibly be obtained by contacting George Richards at (954) 658-5033. It is possible specific information requested may not be available.

5. CONDITIONS OF SALE AND DELIVERY:

• Shark Freight, Inc. is offering and selling these vehicles at Public Auction, for cash, to the highest bidders.
• Announcements made by the Auctioneer will be made through the website and e-mailed to all registered bidders.
• Despite efforts to avoid withdrawal of items from the sale list after being published and/or advertised, there could be circumstances when such action is necessary. Shark Freight, Inc. reserves the right to remove any vehicle from the auction and reserves the right to accept or reject any/all bids.
• Once the top bid price has been received and communicated to the Seller, Shark Freight, Inc. all sales will be considered to be final and not subject to any refunds or exchanges.
• All successful bidders (s) agree to comply with all terms and provisions as listed above.

6. BUYER’S PREMIUM:

• A 10% Buyer’s Premium will be added to all top bid prices and included in the final purchase price.

7. NOTIFICATION TO TOP BIDDERS AND PAYMENTS:

• All Top Bidders will be notified their bid has been accepted by National Auction Company through the E-Mail address supplied at the time of Bidder Registration.
• Payments can only be made by Bank to Bank Wire Transfer. Please contact Auctioneer for bank information.
• Credit Cards, Debit Cards or payment formats such as Zelle WILL NOT BE ACCEPTED.
• Payments will be only be accepted by appointment only and must be made no later than April 18, 2023 by 11:00 A.M.
• Motor Vehicle Certificate of Title and keys are available following payment in full. Some of the vehicles have liens and Certificates of Title may be delayed. It is expected Certificates of Title will be available within 30 days of the auction.
• Invoices will be in the name of Purchasers only and cannot be combined under other Bidder’s numbers as assigned by Proxibid.

8. SALES TAX:

• Florida Sales Tax is calculated on the full purchase price which includes a 10% Buyer’s Premium.
• National Auction Company does not collect sales tax on titled motor vehicles which must be paid at the time of title transfer.
• Dealers who purchase for resale must provide a copy of their 2022 resale certificate to National Auction Company by e-mail to: lori@natlauction.com.

9. MOTOR VEHICLE TITLE TRANSFERS:

• Purchasers are responsible for transferring the Certificate of Title into their name or company name as listed on the Invoice provided by National Auction Company.
• Registration fees and Sales Tax must be paid at the time Certificate of Title is transferred.
• Open titles will not be given to any purchaser.

10. DEFAULT:

• If a buyer fails to complete the sale under the conditions set forth or agreed to by Shark Freight, Inc., any deposits and/or payments made to the account of the Shark Freight will be forfeited and the vehicle will remain the property of Shark Freight, Inc.
• If a Top Bidder fails to make payment in full after being notified their bid has been accepted, at the discretion of Shark Freight, Inc. and/or the Auctioneer, the bidder’s name may be subject to removal from the mailing list and may not be permitted to participate in future auctions. Failure to make final payment may result in removal from future bidder registration (s) for other auctions conducted on the Proxibid platform.

11. REMOVAL/VEHICLE PICK UP:

• All vehicles must be picked up no later than April 18, 2023. Shark Freight, Inc. and National Auction Company are not responsible for any vehicle after it has been paid for after completion of the auction.
• Top Bidders (Purchases) will be required to sign a receipt acknowledging delivery of the purchased vehicle.
• The vehicle must be picked up at Shark Freight, Inc., 850 NW 12 Terrace, Pompano Beach, Florida 33069.

12. REGISTRATION:

• All bidders are required to register with National Auction Company on their website, www.natlauction.com. Each Bidder will be assigned a Bidder’s Number. The Bidder’s Number will be used and that number will be recorded for that sale.

13. COLLUSION

• Collusion is defined as an agreement among competitive bidders to raise, fix or otherwise maintain the price at which goods or services are sold.
• Auctions are governed under the Sherman Act enacted in 1890. The Sherman Acts prohibits any agreement among competitors to fix prices, rig bids or engage in other anti competitive activity.
• Violations of the Sherman Act may be considered to be a felony and punishable by fines established in the Act.
• Bidders planning to participate in this auction should be aware violations that come to the attention of National Auction Company will be reported to Broward County School Board for action they determine to be appropriate.

14. POINTS OF CONTACT:

• Auctioneer: National Auction Company
  Contact Name: George Richards
  Contact Number: 954-658-5033
  Contact Email: grichards@natlauction.com
  
• National Auction Company
  Licensed Real Estate Brokers & Auctioneers
  (AB 640 • AU899)