PLACEHOLDER — AWAITING LEGAL REVIEW The following terms are a working draft for internal review only and do not constitute a legally binding agreement until reviewed and approved by Estvold Oilfield Services, Inc. legal counsel.

Terms of Sale — Estvold Oilfield Services Surplus Equipment Auctions

Effective: Pending final approval
Administered by: Estvold Oilfield Services, Inc.
Auction Platform: auctions.estvoldoilfieldservices.com

1. Eligibility & Participation

All bidders must be pre-approved by Estvold Oilfield Services, Inc. ("Estvold") prior to participation. Bidding access is granted via invitation only. By submitting a bid, you ("Bidder") agree to be bound by these Terms of Sale in full.

Only businesses and individuals holding current W-9 documentation on file with Estvold are eligible to submit winning bids. Estvold reserves the right to disqualify any bidder at any time, for any reason, without notice.

2. As-Is, Where-Is — No Warranty

All lots are sold AS-IS, WHERE-IS, with no representation or warranty of any kind, express or implied. Estvold makes no warranty regarding:

Merchantability or fitness for a particular purpose
Quantity, weight, measurement, or count accuracy
Operational condition, grade, or specification accuracy
Freedom from defects, corrosion, contamination, or prior use damage

Bidders are strongly encouraged to conduct independent inspections prior to bidding. Inspection scheduling is available by contacting the lot coordinator listed on each event. Submission of a bid constitutes acknowledgment that the Bidder has conducted or waived their right to inspect the lot.

3. Sealed Bidding Process

All bids are sealed — individual bids are not visible to other bidders at any time. Estvold administrators may view bids for adjudication purposes only. Bid amounts are per-unit as indicated in each lot listing; total bid value is calculated automatically by the platform.

Bidders may revise their bid at any time prior to the published auction close time. Only the most recent bid submitted by each bidder will be considered. After close, bids are locked and no revisions are accepted.

Estvold reserves the right to reject any or all bids, to select a non-highest bidder for any reason (including but not limited to logistics, credit history, or prior relationship), and to re-offer any lot if no acceptable bid is received.

4. Bid Acceptance & Award Notification

Winning bidders will be notified via email within 5 business days of auction close. The notification will include:

Lot(s) awarded
Accepted bid price per unit
Total amount due
Payment deadline
Pickup coordination instructions

Non-winning bidders will receive a standard loss notification. No pricing information for competing bids will be disclosed.

5. Payment Terms

Payment is due in full within 10 business days of win notification, unless otherwise specified in the event-specific Terms of Sale. Accepted payment methods:

ACH / Bank wire transfer
Company check (must clear before pickup is authorized)
Certified check / cashier's check

No personal checks accepted. Credit card payments are not accepted. Failure to remit payment within the specified deadline will result in bid forfeiture. Estvold reserves the right to re-offer forfeited lots without notice.

6. Pickup & Removal

All lots must be picked up within the pickup window specified per lot (default: 30 calendar days from win notification), unless otherwise agreed in writing by Estvold.

Pickup is the sole responsibility of the Buyer. Buyer is responsible for:

All loading, rigging, transportation, and associated costs
Scheduling with the designated coordinator at least 48 hours in advance
Compliance with all applicable safety regulations during loading
Any permits required for oversized or hazardous loads

Estvold employees may assist with access but are not responsible for loading or securing equipment. Storage beyond the pickup window may be assessed a daily storage fee of up to $50 per lot per day at Estvold's discretion. Unclaimed lots after 60 days will be re-offered for sale without further obligation to the original Buyer.

7. Title & Risk of Loss

Title and risk of loss pass to the Buyer upon Buyer's tender of full payment in cleared funds. Estvold does not provide title insurance. Buyer is responsible for verifying that equipment is free of liens prior to bidding; Estvold makes no representation regarding lien status.

8. TENORM & Hazardous Materials Disclosure

Some lots may contain naturally occurring radioactive material (NORM) or technologically enhanced naturally occurring radioactive material (TENORM) consistent with prior oilfield service use. Buyers are responsible for compliance with all applicable federal, state, and local regulations regarding transport, storage, decontamination, and disposal of TENORM-containing equipment.

Estvold will provide available TENORM survey documentation upon request. Purchase of any equipment does not relieve the Buyer of applicable regulatory obligations.

9. Limitation of Liability

In no event shall Estvold's total liability to any Bidder or Buyer arising from or related to a transaction under these Terms exceed the total purchase price paid by the Buyer for the specific lot(s) at issue. Estvold shall not be liable for any indirect, consequential, incidental, special, or punitive damages.

10. Governing Law & Dispute Resolution

These Terms of Sale shall be governed by and construed in accordance with the laws of the State of North Dakota. Any dispute arising hereunder shall be resolved by binding arbitration in McKenzie County, North Dakota, under the Commercial Arbitration Rules of the American Arbitration Association. The prevailing party shall be entitled to recover reasonable attorneys' fees.

11. Modifications

Estvold reserves the right to modify these site-wide Terms of Sale at any time. Individual auction events may contain event-specific terms that supplement or supersede these site-wide terms; in the case of conflict, event-specific terms prevail.

Last revised: Pending final approval — do not distribute externally