Used Equipment

Used Equipment Bid Process

Items of used or obsolete equipment may be placed online and possibly advertised by other means for sale by Pontotoc Electric Power Association (“PEPA”), for a specified time period. At any point in time during that time period those interested in the equipment may deliver a sealed envelope to the front desk of either PEPA office, Pontotoc or Bruce, addressed to the attention of Frankie Moorman, General Manager, containing a bid for the equipment in question.

All bids should be marked “Sealed Bid” and list the item(s) of equipment being bid on as well as the name, address and phone number of the bidder. If multiple pieces of equipment sale periods are set to close on the same date, multiple bids may be placed in one envelope, otherwise separate envelopes must be used. All bids must be placed individually for the equipment for sale. All bids shall contemplate payment ultimately be in the form of cash or certified funds to PEPA. No personal checks will be accepted, unless known to PEPA and approved in advance of receipt. Title or a bill of sale will be delivered upon receipt of good funds, which may include allowing said funds to clear if by personal check. Possession will transfer following confirmation of receipt of payment.

All equipment is being sold “as-is” and “where is.” Buyer is responsible for removal and transporting said equipment once purchased. Buyer is responsible for conducting any inspections that buyer deems necessary prior to bidding or purchase. All equipment is in used condition and is being transferred out of the PEPA fleet due to age, condition or regularly scheduled replacement. All bids once accepted are final. However, no bid is binding upon PEPA until accepted and declared the highest and best bid. Payment must be made within seven (7) days of being named the high bidder at bid acceptance. Said equipment must be claimed and removed within seven (7) days of making said payment, or the clearing of the same.

In the event of a tie, the high bidders will be contacted and allowed to raise their bid(s) until said tie is broken. In the event that the accepted high bidder fails to timely pay or fails to deliver good funds, PEPA may declare the next highest bidder to be the winning bidder or readvertise the equipment for sale or elect to otherwise negotiate the sale of the same. If a bid is ambiguous or unclear, PEPA may reject said bid or require it be clarified prior to acceptance.

PEPA intends to accept the highest and best bid for said used equipment in most cases. However, PEPA reserves the right to set reserves, and to reject or accept any and all bids, or offer said equipment for sale to certain approved community organizations in its sole discretion. PEPA may reject any bid that is contingent or attempts to alter the terms set forth herein. PEPA may also in its discretion sell a piece of equipment by other methods but will not do so during an advertised bid period relating to said specific equipment. No outright offers will be accepted during an advertised sealed bid period. PEPA reserves the right to alter or amend this process at any time. No bid is binding on PEPA until all sale requirements have been met to PEPA’s satisfaction and said bid has been accepted by PEPA in its sole discretion.