IronPlanet Terms and Conditions

Last Revised: January 22, 2018

Abandonment Policy

IronPlanet provides this Abandonment Policy to inform you of our policies and procedures with respect to its Marketplaces regarding Equipment that has not been removed by Buyers in a timely manner after availability of the Item Release. This Abandonment Policy only applies to Equipment sold on the Marketplace and does not apply to any Equipment sold through a Ritchie Bros. Auctioneers live auction event. All matters relating to abandonment are governed by the terms of this Abandonment Policy, and by the Buyer Terms and Conditions (located at governing the purchase of the Equipment. This policy applies to all Equipment sold on the Marketplace unless a more specific policy or contractual agreement has been established.

IronPlanet may deem a Buyer's failure to claim and remove Equipment within sixty (60) calendar days following availability of the Item Release to be evidence of Buyer's intention to abandon the Buyer's Equipment. In these instances, IronPlanet may take action that is adverse to Buyer's interest in the Equipment, including, but not limited to, steps to dispose of the Equipment on the Buyer's behalf. Disposition of the Equipment may include a variety of approaches and IronPlanet will determine the appropriate disposition approach which may include:

  1. Moving the item from its existing location and disposing of the item as IronPlanet deems appropriate; or
  2. Scrapping the item; or
  3. Advertising the item for sale on IronPlanet's Marketplace, whereby IronPlanet will remit the resale amount to the Buyer less IronPlanet's expenses, storage*, transportation and other costs, and a 20% administrative fee.

*If a Buyer has not removed the Equipment from its existing location within eight (8) business days after availability of the Item Release, the Buyer will be responsible for paying any and all storage fees levied on the Equipment. The maximum storage fees allowed to be levied on Equipment sold through an IronPlanet Marketplace will be 25.00 (in the listing currency) per day, beginning on the 9th day after availability of the Item Release, with the total amount not to exceed 1,500.00 (in the listing currency).