waiver/release form to sell surplus machinery

[ifin]

Hi,
Just wondering if there was some typical form that are used while selling unused equipment from the plant.Some equipment are definitely unsafe to use, which was clearly conveyed to the surplus buyer, but I want to make sure that we are covered on our end.

 

[plasgears]

Some surplus dealers claim to repair machinery that they place on the market. I have had little trouble with surplus machinery. I got a wonderful buy on a surplus wing leading edge rolling machine that had the capability to roll variable radii, like on a tapered wing. We used it in limo side panel work.

 

[gerhardl]

This is a two-sided question:

a) The juridical side, suggestion: sold as scrap metal only. Any damage caused by use, demounting or deposition is outside sellers responsibility.

b) Is there any buyers, and to what price?

No known standard formula, but there is a wide market for almost anything. Price, demounting and transportation cost
and demand are the limitations for what you can expect.

 

[classcar]

You should talk to your company attorney, they will want to draft a short agreement for the purchase. Your company accountant may also want some items to be on the agreement to show the change of ownership for tax purposes. I had a generic form drafted where I could write in the info as we sold off items. A few things you might normally see in the agreement are:

1. Selling price, who buyer and seller are.
2. Who is paying for shipping, when it will be shipped and the current location of the equipment.
3. How and by whom the equipment will be loaded.
4. There is no warranty on the equipment and is "As-Is".
5. Occasionally you might say it is sold for scrap only.

If you have any modifications to the equipment, you may want to remove and dispose of them. We tried to make the equipment look as close as possible to how the original manufacturer built it before it is sold off. If you have an in-house built custom piece of equipment, we would normally cut these up discard them and not allow them to be sold out.


RW

http://www.phoenixengineering.com

 

[ifin]

classcar-thanks for your post. yes all modification have been removed, but I was more concerned about some unsafe equipment.
You are right, now that I think about I should have had the company attorney draft the letter. I was hoping there would be like a auto bill of sale form. I didn't want to create verbiage myself and miss something.