Account

An EX-FACTORYAuctions account is required to bid on an item. The account is free, and you must accept the EX-FACTORYAuctions "User Agreement".

The bidder must be "logged in" to an EX-FACTORYAuctions account for a bid to be accepted. You may log on:

• Here
• On the top/right of each EX-FACTORYAuctions webpage
• On the "Help" page

If you have an existing account with another EX-FACTORY website, the existing EX-FACTORY account's email address/password will be honored on EX-FACTORYAuctions.

To log out of EX-FACTORYAuctions, a "Log out" link is available at the top/right of each EX-FACTORYAuctions web page.

Terms and Conditions

Each item in EX-FACTORYAuctions is only sold in its Auction event; each item's sale is regulated by its own "Terms & Conditions."

The item's Terms are accessed through a link at the top of its detail page

EX-FACTORYAuctions comprehensive "Terms and Conditions" of sale (linked from the item's "Terms" page).

It is important and necessary for the Bidder, who is a prospective Buyer, to accept all "Terms and Conditions" before placing a bid on an item.

Reserve

The reserve is the lowest price that the seller of the equipment is willing to accept for the item. The reserve price is never displayed to bidders. Only items with bids that meet or exceed the reserve amounts are sold to the highest bidders.

As long as an item has not reached the "hidden" reserve amount, "Reserve Not Met" is displayed to the right of the current high bid. As soon as a bid reaches the reserve amount, "Reserve Met" is displayed to the right of the current high bid.

If an item is offered without a minimum reserve, "NO RESERVE!!" is displayed to the right of the current high bid.

Buyer's Premium

Each EX-FACTORYAuctions item includes a Buyer's Premium that is added to the winning bid amount. The Buyer's Premium can vary per each event.

Please see complete Buyer Premium information in the EX-FACTORYAuctions Terms and Conditions.

Bidding Location

Bidding areas are on the "Details" page of each EX-FACTORYAuctions item (see "Site & Item Navigation" for instructions to navigate to an item's detail).

The bid is typed in the area labeled "Your Maximum Bid" (shown above) and submitted when you click on the "Submit" button.

• Bids are in US-Dollars; enter a numeric value only (enter 1000 for a bid of US-$ 1,000).
• Bids are accepted only when logged onto an EXFA account.
• A bid may be entered without being logged in to EXFA. When not logged in, you are prompted to either enter your email address/password to login or Register for an EXFA account.
• When your bid is the first bid for the item, the system places the least bid amount according to the item's:
  • Reserve
  • "Next Allowable" Bid (see below)
  • "Your Maximum Bid"

Bid Increments

The minimum amount that you can bid at any given time is the amount displayed in the box labeled "Next Minimum Bid."

The bidding system calculates the next minimum bid amount by adding an increment amount to the opening bid or current high bid for the auction item. Bid increments are based on a formula where the increment amount increases gradually as the high bid amount for the auction item increases.

Bid Acceptance

After receiving a valid bid and prior to accepting it, EXFA displays a "Bid Message":

1. Click on the check box labeled "I agree to the Terms & Conditions Below" to acknowledge you have read and agreed to both the Item's Terms & Conditions and EXFA's Terms & Conditions as contained in this area.
   If you do not agree to the terms, click on the "Cancel" button.
2. Click on the "Send My Bid" button.

When EXFA accepts the bid, a "Bid Message" web page is displayed confirming the bid's status (such as "Congratulations! You are the highest bidder.").

Email Bid Confirmation

EXFA also confirms bid acceptance by email, which includes the same status as displayed in the "Bid Message" on the website.

If you have any questions about your bid status, please email or contact the Auction staff at +1 877-580-5844 x316.

Bid Obligation

When you have the winning bid on an auction item, you are obligated to purchase the item.

All non-performing bidders will have their accounts cancelled immediately.

Proxy bidding

A Proxy bid is the maximum dollar amount you are willing to bid for a specific lot. The system automatically bids up to that amount on your behalf against competing bidders (if any).

EXAMPLE: You enter a "Max Proxy Bid" amount of $500 when the lot's reserve is met and the high bid is $100.  Your Proxy Bid automatically raises your bid to the next minimum bid amount, which in this example is $125, and thus makes you the current high bidder.  When a competing bidder bids $150, the system again automatically places the next minimum bid amount of $175 for you, making you the high bidder again.  If a competing bidder bids again, proxy bidding continues until your "Max Proxy Bid" of $500 is exceeded by the next minimum bid amount. If your proxy bid amount is not exceeded by the next minimum bid amount when the auction ends, then you win the lot.

ADVANTAGES: Should your schedule prevent you from participating near the closing of an Auction, your "Proxy Bid" quickly bids on your behalf.  Also, when your and a competing bidder's proxy bids are of equal amount ($500 in the example) at the end of the Auction, your bid wins, because you entered your $500 "Proxy Bid" amount first.

Bid Confirmations Sent by Email

Bidders receive EXFA generated emails to confirm your current or changed Auction status for the following events:

• Opening of an EXFA Account
• Bid Confirmation
• Bid Met Item's Reserve
• "Out Bid" Notification
• Receipt of Proxy Bid Amount
• Proxy Bid Entered for Item
• Auction Over for Item you bid on
• Receipt of Information Request for Item
• Receipt of Shipping Information Request for Item
• Receipt of Surplus Equipment Notification

Note: Please add noreply@exfactoryauctions.com to your “safe” email list to ensure that you receive EXFA generated emails and avoid their capture by spam filters.