How To Buy

HOW TO BUY

REGISTRATION:

Registration is required before you can make an offer or
purchase an item.  

Registration is free and provides you with email notices
of auctions or of offers for the equipment categories you
have selected as being interested in.  We do not provide
information about you to third parties without your
permission.

NOTIFICATION:

If you are the winner of an auction or sealed proposal
offer you will be contacted to confirm the deal and to
arrange for payment and delivery of the item(s)
purchased.  Only the winning bidder is notified and the
price paid and contact information remains confidential
unless the winning bidder provides permission otherwise.
A Bill of Sale will be sent to the buyer for counter-
signature.  The Buyer will return one signed copy of the
Bill of Sale to AEP Asset Recovery and a billing invoice
will be sent to the Buyer.   

WARRANTY:

Items are sold “AS IS, WHERE IS”. No warranties are
expressed or implied. By bidding, you agree to the User
Agreement, Request of Sale Terms of Conditions.  

STATE SALES TAX:

State and local sales taxes will be collected for the
state where the item resides unless the buyer provides a
tax exemption or resale certification.

PAYMENT:

A billing invoice will be sent to the winner of the
bid.  Payment must be received and confirmed as funds
available before an item or equipment can be removed from
one of AEP's facilities.  AEP will accept payment via
bank wire transfer, certified bank check, or VISA /
Master Card.

SHIPPING & HANDLING:

Items are sold "as is where is" and the buyer is
responsible for making all arrangement and for all
expenses associated with removing the item from AEP's
facility.  (Special arrangement for shipping can be made
dependent on the facility involved.  Actual shipping
costs along with a handling fee will be charged.)

DEFINITIONS:

CATALOG ITEM:  Catalog items will be listed with a Buy Now Price.
This is a non-negotiable price.
If you want to purchase the item for the
Buy Now price, simply click the Buy Now button.
The process to complete the sale will be initiated.

AUCTION ITEM:  There are four (4) types of auctions being
used.

(1) Standard Auction (Hard Closing Time):  
Bidding is open to all registered users.  
The current high bid is known to anyone visiting
the website.  If a minimum bid increment, starting bid or
reserve bid is imposed, this information will be noted
with the auction listing.  Bids will be accepted up to a
predefined closing time, which is noted with the auction
listing.  The item will be awarded to the highest bidder
at close of the bid unless the reserve bid amount has not
been met.  Automatic bidding is permitted to allow a
bidder to enter their maximum dollar bid for automatic
incremental bids during the bid process.  The registered
users' UserID identifies the current bidder(s) for the
auction.

(2) Standard Auction (Soft Closing Time):  
Bidding is open to all registered users.  
The current high bid is known to anyone visiting
the website.  If a minimum bid increment, starting bid or
reserve bid is imposed, this information will be noted
with the auction listing.  The auction has a predefined
closing time, which can be extended if a bid is entered within
a few minutes of the closing time for another set period.
The item will be awarded to the highest bidder when there
are no more bids entered unless the reserve bid amount has
not been met.  Automatic bidding is permitted to allow a
bidder to enter their maximum dollar bid for automatic
incremental bids during the bid process.  The registered
users' UserID identifies the current bidder(s) for the
auction.

(3) Sealed Bid Auction:   Bidding is open to all
registered users. The bid offered by each bidder is
unknown to other bidders and to AEP website
administrators.  One bid per registered user will be
accepted up to a predefined closing time, which is noted
on the bid auction listing, and the item will be awarded
to the highest bidder at close of the bid unless the
reserve bid amount has not been met.  Automatic bidding
is not permitted.  

(4) Closed Auction:   Bidding is by invitation only to
selected registered users.  A Closed Auction may be
operated as either a standard auction or sealed bid
auction.  This type of auction only applies to items
which have sensitivity of their final use or handling
when ownership is transferred.

MAXIMUM BID:  Automatic (Proxy) Bidding is
available.  Where it requests “Maximum Bid” enter the
maximum amount you are willing to pay for the item. The
maximum bid amount entered is hidden from other bidders
and from AEP website administrators.  Bids will be placed
on your behalf using the automatic bid increment amount
as other bids are made.  Your bid will only be increased
as much as necessary to make sure that you remain the
high bidder up to your maximum amount.  Automatic bidding
makes it convenient so you do not have to keep coming
back to re-bid every time a new bid is placed.

NOTE:  Maximum bid amount cannot be increased until
another bidder has entered a higher bid amount.  When
entering your maximum bid amount be sure to enter the
maximum you are willing to pay because you may not have
time to increase it if another bidder enters a higher
amount during the closing minutes of the auction.

AUCTIONS WITH QUANTITIES GREATER THAN ONE RULES

·   Automatic or proxy  bidding is not available.

·   If a bidder is bidding on a quantity of units greater
than 1, the bid is only considered the high bidder if the
bid is the high bid for at least the quantity being bid
on.  It assumes that the bid is only valid for the
quantity bid on and it will not split the bid quantity.

·   The minimum bid amount is based on what the highest
bid offered is for the last unit available.

·   At the end of the auction the items will be awarded
to the highest bidders for the available quantity of
units which can result in multiple bidders being awarded
the items available.

·   The Bidding History lists in Red the current high
bidders and quantity desired. (This is the same for all
auctions.)

·   At the end of the auction, the highest bidder will be
given first choice for the quantity awarded; the second
highest bidder will be given second choice for the
quantity awarded; and so on until all units are sold.

·   There are no reserve bids on auctions with quantities
greater than 1.