Global Online Auction Featuring Quality Pharmaceutical Manufacturing & Lab Equipment From Par Pharmaceutical’s Chestnut Ridge, New York Site!

End Date: August 31, 2022 11:00 am ET
Inspection/ Preview: By Appointment Only
Sale Location: 251 Union Street,
Northvale, NJ 07647

Our auctions are fully staffed to assist buyers with asset removal, including all necessary paperwork, documents, and shipping arrangements. We stay on-site to ensure your purchases are secure and your assets are properly removed. Our seasoned staff has conducted countless plant closures and are familiar with all of the nuances involved in a smooth transition from seller to buyer.

The HGP team includes an extensive global network of both riggers and shipping agents, and each auction posts our recommended logistic experts for both pre-auction and post-auction quotes and services.

All carriers, riggers, de-installers and transfer agents must provide proof of insurance certificates prior to the commencement of their work. We will not allow access to third party carriers without the proper documentation, as a service to our sellers. The safety and well being of all individuals involved is our foremost concern. Our Director of Logistics and staff are dedicated to making certain that the removal process runs as smoothly as the sale itself.

Buyers needing any help with asset removal or sellers with any questions, please contact us.

(1) Buyers or their Agents must remove all Goods purchased before the final removal date and time announced by HGP at the auction (the “Removal Date”). (2) No Goods shall be removed until the full purchase price and all applicable taxes thereon have been received by HGP in the form required herein. ANY ITEMS NOT REMOVED ON OR BEFORE THE REMOVAL DATE SHALL BE DEEMED ABANDONED AND HGP SHALL HAVE NO FURTHER OBLIGATION TO BUYER WITH RESPECT TO SUCH ITEMS. Buyer shall be responsible for the safe and proper removal of any Goods purchased by Buyer. HGP does not pack, ship, store, crate or rig items for removal. Buyers may either pick up Goods at the designated auction site themselves or can contract with a third party agent to manage the removal process for them. Before Goods can be removed by an Agent, Agent must provide HGP with (1) proof of payment in full (Paid in Full Invoice) and (2) An “Agent Release Authorization” form which allows HGP to release items to a third party contractor for shipping, crating or packing purposes. Individual items weighing more than approximately 100 pounds in HGP’s reasonable discretion must be removed by a qualified, insured rigger. Before any removal, Buyer must provide HGP with a certificate of insurance from the rigger, which certificate must be in form, scope and content acceptable to HGP in HGP’S sole discretion. Without limiting HGP’S discretion, such certificate must show that the rigger carries comprehensive liability insurance written by an insurance carrier of national standing and in an amount of not less than two million dollars ($2,000,000.00). Without limiting the generality of the foregoing, Buyer shall restore and repair all real and personal property that is altered or damaged as a result of Buyer’s removal of the Goods. HGP shall have no responsibility to disconnect utilities to the sold asset, including electric, gas, waste and water lines. Buyer is solely responsible to properly remove and store in appropriate containers all fluids, oils, hazardous chemicals, etc., from machinery purchased. Buyer does hereby indemnify HGP, the Consignor and the owner of the premises in which the Goods are located, from any and all claims, damages, and losses arising from Buyer’s actions or actions with respect to the Goods and Buyer’s presence on the premises in which the Goods are located, including without limitation, injuries to persons or property and environmental violations or contamination. Risk of loss on any Goods shall pass to the Buyer upon payment in full to HGP of all sums due from Buyer in respect to the Goods. HGP shall have no responsibility whatsoever for any missing or lost items that can be removed by hand if such items have not been removed within forty-eight (48) hours of the conclusion of the sale. There will be NO removal of any lots until the auction is complete.

Any buyer and/or rigger allowed in the plant must have an up-to-date insurance certificate on file with the Heritage
Global Partners field supervisor that is acceptable to seller. Liability limit requirements will be determined by seller
and supplied by supervisor, and will at a minimum include the following insurance policies with reliable insurance
companies, and in the following amounts: $2,000,000 combined single limit. $1,000,000 property damage and
$1,000,000 comprehensive general liability with contractual liability in the case of all riggers; and $500.000 cargo
and $1,000,000 comprehensive general liability in the case of carriers; and such other insurance as may be
required by any governmental authority, including workers' compensation at the statutory minimum.

HGP must receive full payment of the total purchase price, buyer’s premium, sales tax (if applicable) and any other charges no later than the close of business on the payment deadline date set out on the buyer’s invoice and/or as otherwise announced by Auctioneer (the “Final Payment Date”). All payments must be by federal wire transfer of immediately available funds. Credit cards are (only) accepted for Electronic bidding registration and for Liquidated Damages in the event of a default. No title shall pass to Buyer until the total purchase price and all Taxes have been paid to HGP in collected funds.

For Onsite and Webcast auctions, winning bidders can request a printed paper invoice from the Accounting Manager at the sale location during or after the sale. Electronic Bidders will be sent an electronic invoice to the email address provided during registration. Detailed payment instructions for each sale are available in the printed lot catalog at the sale location on the day of the sale. Electronic Bidders will be sent detailed payment instructions via email along with their invoice.