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TIMED ONLINE ONLY AUCTION - KELVION INC: INDUSTRIAL HEAT EXCHANGE ASSETS- AUGUST 22ND

KELVION, INC. ONLINE ONLY AUCTION

August 22nd

TO THE ONGOING CONCERN OF GLOBAL MANUFACTURER OF INDUSTRIAL HEAT EXCHANGERS

Location(s):
5202 West Channel Road,
Catoosa, OK 74015
&
903 Blue Starr Drive,
Claremore, OK 74017


Featuring: Over 100 New, Never Used Electric Motors, (30 HP and up Baldor, Siemens, GE), (2) Late Model Acra Surface Grinders, Late Model Mitsubishi Wire EDM, Proto Trak TRL 2460V CNC Lathe, Rod ovens, (3) Miller Delta Weld 452 Welders, USI Stamping Press w/feed line & decoiler, Hem Mdl H105LA-C Hz Band saw, (2) Lincoln Precision TIG 275 Welders, (3) Lincoln IdealArc AC-1200 Welder Power Sources, (2) Lincoln CV200 Welders, Dozens of Fisher Actuators, Huge Usable Plate Steel Inventory, various sizes & thicknesses, Usable I-Beam & Channel, Huge Inventory of Stainless Flanges, Usable Stainless Steel plates, Bundles of New Stainless Pipe, Scrap Steel and Aluminum, Cantilever Racking, Steel Flanges, (5) High Pressure Tank Shells, Jib Cranes, Fire Proof Cabinets, Chemical Recovery Stands, UAS Dust Collector, Bag House System, Acer AGS-204OSD Surface Grinder, Terex Overhead Self Supporting 5 Ton Bridge Crane System, Agma Vert Machining Center, Trinco Sand Blast Cabinet, H Frame Press, Tin Smith Finger Brake, Chevaller Wire EDM, Gardner Denver Electra Screw Compressor , Baileigh Press Brake, Kurt Vises, Electrical Supplies, Hoists, Optical Comparator, Rolair Mobile Compressor and more!

1. NO WARRANTIES - Everything in this auction is sold as is, where is, with
no warranties, representation or guarantees expressed, implied or otherwise.

2. PAYMENT - Balance of full payment in cash or certified funds due
immediately upon completion of auction. All checks to be made to the order
Investment Recovery Services. Advance wire transfers are possible. Contact
Investment Recovery Services at 800-583-1111 for details. Non-certified
checks accepted only when accompanied by a valid bank guarantee letter.

SAMPLE LETTER:
THIS BANK HEREBY GUARANTEES PAYMENT OF CHECKS PAYABLE TO
INVESTMENT RECOVERY SERVICES, FROM (NAME OF CUSTOMER) ON ACCOUNT
#____ UP TO AMOUNT OF ____. THIS LETTER IS
VALID FOR PURCHASES MADE AT THE AUCTION
OF ____ ON ____(DATE).
(PLEASE HAVE YOUR BANK USE THIS FORMAT FOR THE GUARANTEE LETTER)
Fax all letters to (817) 834-4075 or email to trevor@irsauction.com

3. SALES TAX - Sales tax will be charged and collected on all purchases as
required by appropriate state/local laws. Sales tax exemption number, where
applicable, must be presented at the time of bidder registration. To qualify for
any available exemption, Buyer must sign any required form.

4. ADDITION TO OR WITHDRAWAL FROM SALE - The Auctioneer reserves
the right to withdraw from sale any of the items, to sell at this auction items
not listed, to group one or more lots into one or more selling lots or to
subdivide into two or more selling lots. The Auctioneer also reserves the right
to sell all of the items listed in bulk.

5. DISPUTE BETWEEN BIDDERS If there is any dispute between two or more
bidders, the Auctioneer may decide the sale or may resell by immediately
putting the lots up for sale again. The decision of the Auctioneer shall be final
and absolute.

6. CONDITIONS OF ITEMS SOLD - All information is believed to be accurate,
but the Auctioneer shall not be responsible for the correct description,
authenticity, genuineness of or defect in any lot, and makes no warranty in
connection therewith. No allowances will be made or sale set aside on account
of any incorrectness, error in cataloging or any imperfection not noted. No
deduction will be allowed on damaged articles as all goods being exposed for
public exhibition are sold ?as is? and without recourse.

7. BIDS - Absentee bids may be presented to the Auctioneer in writing and
must be accompanied by 25% of your bid in certified funds with full payment
due one day after notification of your successful bid. Said bids are subject to
all terms and conditions of sale as listed herein or announced at the auction
sale. All absentee bids will be held in confidence. Auctioneer may have a
principal interest in this sale. Seller reserves the right to bid at this auction.
(NOT APPLICABLE TO INTERNET BIDDING)

8. COMPLIANCE WITH THE TERMS OF SALE - In default of payment of bills
in full within the time announced for this auction the Auctioneer, in addition
to all other remedies allowed by law, may retain all monies received as
deposit or otherwise as liquidated damages. Lots not paid for within the time
specified herein may be resold at public or private sale without further notice.
Any resulting deficiency together with all expenses and costs of re-sale will
be the responsibility of the defaulting purchaser. Each Buyer in making a bid
does herewith agree to comply with the terms and conditions as herein stated
and as otherwise set forth. The failure or default by a successful Buyer to fully
comply with the terms and conditions herein will be treated as an immediate
breach and the deposit as made retained and applied toward any deficit in
additional costs or charges as incurred o effect the resale of that property at
private or public sale. There shall be no further notice required to the Buyer
once a default has occurred. The obligation of the Buyer shall be for costs as
incurred, plus any deficit included arising from the Buyers default.

9. AUCTIONEER - The Auctioneer when acting as Agent is not responsible
for actions of its Principals.

10. OWNERSHIP - All items become the sole responsibility of the purchaser
immediately at knockdown. Although the Auctioneer will exhibit reasonable
care to safeguard purchases, until removed by purchaser, no refunds or
adjustments will be allowed for any shortages.

11. REMOVAL - Removal shall be at the expense, liability and risk of the
purchaser. Purchases can be removed only on presentation of original bill of
sale and only after entire sale is completed. Photostats of bills of sale will not
be accepted for removal. Upon failure of purchaser to remove goods within
time specified as posted or announced, Auctioneer shall have the option of
removing and storing the goods at expense and risk of the purchaser or
deeming money deposit forfeited in which case Auctioneer may resell without
notice at public sale or otherwise dispose of goods at risk and expense of
purchaser. Purchaser shall remain liable for loss, expense and damages
arising from the purchaser?s default.

12. ABANDONMENT - Purchasers will not be allowed to abandon any
purchases or portion of those purchases.

13. NON-DELIVERY RESPONSIBILITY - Auctioneer shall not, in any event, be
liable for non-removal or for any other matter, to any purchaser of any items.

14. PERSONAL AND PROPERTY RISK - Persons attending during exhibition,
sale or removal of goods assume all risks of damage of or loss to person and
property and specifically release and indemnify the Auctioneer from liability
therefore. Neither the Auctioneer nor his Principal or Seller shall be liable by
reason of any defect in or condition of the premises in which the sale is held.

15. BUYERS PREMIUM - 15% On-site Buyers premium & 18% Online Buyers premium applies to all purchases in the amount stated above.

16. RECORDS - The record of sale kept by the Auctioneer and Bookkeeper
will be taken as final in the event of any dispute.

17. NOMINAL BIDS - Any bid which is merely a nominal or fractional advance
may be rejected by the Auctioneer if in his judgment it may affect the sale
negatively.

18. THE BUYER does hereby assume and does agree to indemnify and hold
the Auctioneer and Seller harmless from any future claim, which shall pertain
to the fitness or use of that asset as being purchased.

19. ADDITIONAL TERMS AND CONDITIONS - Additional terms or conditions
of sale may be added by Auctioneer by announcement or posted on the
premises prior to the auction

To sign up for an auction, you'll first need to make an account with Bidspotter then be on the main catalog page of the auction on. Located to the right of the auction title, there is a blue button reading 'Sign up to bid'.

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You will then be required to fill out the below form with all information requested:

Before you are able to complete your registration, you will be required to read and accept the Terms & Conditions and check the box once you have. After which you will select 'Complete your sign up' at the bottom.

Note: Once registration has been completed you will need to be approved to participate in the auction. Receiving approval typically takes 24-48 hours.

CERTIFIED FUNDS ONLY. WE DO NOT ACCEPT CREDIT CARDS AS PAYMENT.

Wire Transfer, Cash, Cashiers Check, Company Check with a Bank Letter of Guarantee (see below for more on Bank Letters).

Company checks are only acceptable if accompanied by a letter from the payor's bank guaranteeing unqualified payment to Investment Recovery Services. Click here to view a sample Bank Letter of Guarantee and to view the instructions on how to successfully guarantee payment.

All checks should be made payable to: Investment Recovery Services

Successful Bidders must make the customary 25% deposit using one of the other stated methods of payment. The balance due on your invoice should be wired to our account within 24 hours after the auction.

Funds may be wire transferred directly to Investment Recovery Services.

Click here for Wire Transfer Instructions.

To be approved to Bid you must provide ONE of the following:

1. Credit / Debit Card Deposits: This auction will automatically require & make a credit or debit card deposit. Your credit / debit card added through the Bidspotter.com fully secure and PCI compliant registration process will be assessed a $2,500.00 deposit in order to be approved to bid within the auction. You will not be approved without your credit card entered at the stage of registration.  This deposit is fully refundable if no purchase is made and will be refunded within 3-5 business after the auction day.  If a purchase is made your deposit will be refunded upon receipt of your full payment by wire transfer or certified funds.

2. A bank letter of guarantee from your bank signed by an authorized officer
of the bank and must be on bank letterhead see the sample letter in #2 below
for more details).

3. Send a deposit to the auction company by wire transfer or certified funds
and it must arrive no later than 24 hours prior to auction start time.
Deposit Info:
US Bidders must post a 25% deposit of approximate planned spending budget
or a minimum of $2,500.00.
US EX: Want released to spend $75,000.00 - Deposit must be at least
$18,750.00.

International (non US) Bidders deposit amount must be 100% of the amount
you expect to spend.
International EX: Want released to spend $75,000.00 - Deposit must be
$75,000.00.
Minimum Deposit Accepted from International Bidders is $2,500.00.

**If you wish to send your deposit via wire transfer please notify us by email
and wire transfer instructions will be emailed to you.

WE DO NOT ACCEPT CREDIT CARDS OR PAYPAL PAYMENTS!

All Items MUST Be Removed by: August 29th, 2019 by 3PM

 

Please Note: The Auction Company DOES NOT Load or Ship Any Items.

In order to move any purchases that require heavy machinery (i.e. Forklifts) any person(s), entities, or Rigging/Machinery Moving companies must provide a Liability Insurance Policy with a minimum coverage of $1,000,000.00 USD.

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