Closed-Bid Terms and Conditions
1. Sale Format and Bid Deadline
The asset is offered by confidential closed bid through IronHub. Completed bids must be received through the IronHub platform by 5:00 pm MDT on September 15, 2026. Late, incomplete, conditional, or non-compliant bids may be rejected. The seller may extend, suspend, or cancel the sale at its sole discretion before an award is issued; however, no automatic extension will occur at the deadline.
2. Minimum Qualifying Bid and Seller Acceptance
The published minimum qualifying bid is CAD $50,000, exclusive of GST and other applicable taxes. Any bid below this amount may be rejected without review. Meeting the minimum qualifying bid does not create an entitlement to purchase the asset.
All bids are subject to the seller’s written acceptance. The seller may accept or reject any bid, may decline all bids, and is not obligated to accept the highest bid. No purchase contract exists until the seller issues a written award / acceptance and the buyer completes the required purchase documentation.
3. Binding Nature and Validity of Bid
A compliant bid is a firm offer to purchase the asset on the published terms. Each bid must remain open for acceptance for five business days after the closing deadline unless the seller declines it earlier in writing. A buyer may not add conditions concerning performance, testing, financing, asset scope, timing, rigging, or site access after submitting its bid. Any requested deviation must be disclosed in the bid and may cause the bid to be treated as non-compliant.
4. Award, Deposit, and Payment
IronHub expects to notify the successful bidder, or advise that a bid is not accepted, within two business days after the close. If selected, the buyer must execute the purchase documentation and pay a deposit equal to 10% of the accepted purchase price within two business days of award. The deposit will be credited against the purchase price.
The balance of the purchase price, GST, and any other applicable taxes or charges must be paid in cleared funds before the asset is released for removal. The final sale agreement should specify deposit forfeiture, seller remedies, and re-marketing rights if an awarded buyer defaults.
5. Condition, Warranties, and Buyer Reliance
The asset is sold AS IS, WHERE IS, WITH ALL FAULTS, without warranty, representation, or guarantee of any kind, whether express, implied, statutory, or otherwise. This includes no warranty as to condition, operability, performance, hours, service life, maintenance history, merchantability, fitness for a particular purpose, code compliance, emissions compliance, electrical compatibility, safety certification, completeness, or suitability for resale.
All descriptions, photographs, serial numbers, meter readings, technical information, and documents are provided for convenience only. Buyers must rely on their own inspection and due diligence. A bidder that elects not to inspect accepts the asset on the same basis as a bidder that has inspected it.
6. Asset Boundary and Exclusions
The buyer is purchasing only the items expressly identified as included in the final Included Assets schedule. All other equipment, material, structures, fixtures, infrastructure, controls, cabling, transformers, switchgear, MCC sections, building components, concrete, utilities, and site property are excluded unless specifically stated as included in the seller’s written award.
The buyer must not remove, cut, disconnect, alter, or damage any excluded property. Any uncertainty about scope must be resolved in writing before bid submission; post-award requests to expand the included asset scope will not be accepted.
7. Removal, Loading, Rigging, and Site Requirements
The asset is anticipated to be available for removal in October 2026, by scheduled appointment and subject to site coordination. The buyer is responsible, at its sole cost and risk, for all removal planning, labor, supervision, loading, rigging, lifting equipment, transportation, permits, environmental controls, demobilization, and restoration required to remove the included asset safely and completely.
Before site access or removal, the buyer and all contractors must provide any insurance certificates, safety documentation, lift plans, hazard assessments, contractor qualifications, and other documents required by the seller or site operator. The buyer must comply with all site rules, safety protocols, environmental requirements, access controls, and direction of site personnel. The seller or site operator may stop unsafe work at any time.
No field disassembly, hot work, cutting, energization, utility isolation, or structural work is permitted without the seller’s prior written approval and all required site permits. Any fuel, oils, glycol, batteries, waste, or regulated materials associated with removal must be managed and disposed of by the buyer in accordance with applicable requirements and site direction.
Unless otherwise agreed in the final purchase documentation, removal must be completed within 30 calendar days of the asset-release date. The seller may charge storage, coordination, or re-marketing costs, or treat the buyer as in default, if the asset is not removed by the agreed deadline.
8. Title, Risk, and Release
Title to the included asset transfers only after the seller receives full cleared payment. Risk of loss, damage, injury, and liability associated with the asset transfers as specified in the final purchase documentation, and no later than when the asset leaves the site. The buyer will receive a bill of sale after the applicable payment and documentation requirements are satisfied.
9. Liability and Indemnity
To the maximum extent permitted by law and as confirmed in the final sale agreement, the buyer assumes responsibility for its personnel, contractors, visitors, removal operations, and use of the asset. The buyer will indemnify and hold harmless the seller, IronHub, and their respective affiliates, directors, officers, employees, and representatives from claims, losses, damages, costs, and liabilities arising from the buyer’s inspection, access, removal, transportation, possession, or use of the asset, except to the extent caused by a party’s gross negligence or willful misconduct.
10. IronHub’s Role
IronHub acts as the marketing and transaction facilitator for the sale. IronHub does not own the asset and does not make technical, legal, tax, safety, or performance representations about it. Any final purchase is between the seller and the successful buyer, subject to the final sale documentation.
