SALVAGEAUTOSAUCTION.COM Last Updated 01/21/2019 ...

 BUYER TERMS AND CONDITIONS

Last Updated 01.14.2020

REGISTERING TO (WEBSITE) INDICATES THAT YOU ACCEPT THESE TERMS AND CONDITIONS (T&C) SO PLEASE READ VERY CAREFULLY THESE T&C BEFORE REGISTERING. IF YOU DO NOT ACCEPT THESE T&C, PLEASE DO NOT REGISTER. WE RESERVE THE RIGHT TO AMEND THIS T&C WITHOUT PRIOR NOTICE TO YOU.

OUR SERVICE (SERVICE) CONSIST THAT ONCE YOU ARE REGISTERED TO THIS WEBSITE, IF YOU HAVE THE HIGHEST OFFER ON A VEHICLE LISTED ON THIS WEBSITE WHEN THE OFFERS ACCEPTANCE PERIOD (OAP) IS CLOSED, AND YOUR SECURITY DEPOSIT IS RECEIVED ON TIME, ONE OF OUR AFFILIATE DEALERS (DEALER) WILL PURSUE THE ACQUISITION OF THIS VEHICLE AT COPART BIDDING ON YOUR BEHALF UP TO THE MAXIMUM OFFER AMOUNT YOU SUBMITTED. IF THE DEALER SUCCESSFULLY ACQUIRES THE VEHICLE THEN IT IS YOURS. YOU WILL PAY THE SALES PRICE THE DEALER BOUGHT THE VEHICLE FOR, PLUS COPART FEES, OUR BROKER TRANSACTION FEE PLUS ANY APPLICABLE TAX.

Key Points

It is recommended that new Buyers read the full text of 's Terms and Conditions before Acceptance. At no time shall these key points, replace or modify in anyway 's full Terms & Conditions.

10 Key Buyer Points:

Buyers agree

1. by registering with , they acknowledge and understand that it is registering with and purchasing vehicles from the affiliate dealer and not from Copart Auto Auction.

2. to accept that ALL VEHICLES ARE BEING SOLD "AS-IS, WHERE-IS" ALL OFFERS ARE BIDING AND ALL SALES ARE FINAL, this means that you are buying the vehicles "with all faults" and without any warranty or guarantee of any type, express or implied.

3. to accept that it is their sole responsibility to ascertain, confirm, research, inspect, and investigate all vehicles and any information regarding such vehicles prior to bidding on them.

4. to be liable for all Sales Tax and/or provide an applicable Certificate of Exemption. 5. to remit full payment for purchased vehicles in the amount of the auction closing price, Sales

Tax (where applicable), Copart and Broker Transaction Fees as described in the Fees Table, for each vehicle purchased. 6. to remit vehicle's payment only by a wire transfer or a direct deposit to our Bank of America account within three (3) business days of purchase including the sale day, and pay a Copart Late Payment fee of $50.00 per vehicle after this period. 7. to remit all signed documents, proper identification and notarized Power of Attorney (when required), within three (3) calendar days from the purchase date. 8. to remove the purchased vehicles only after the Vehicle Release Authorization has been issued, and no later than three (3) calendar days including the sale. On the fourth (4th) day, a fee of $5 will be due. The fifth (5th) day a fee of $5 will be due for Online Bids and $30 will

be due for Kiosk or Buy it Now purchases, and after that the buyer will pay $30 daily until the 9th day, at which point a fee of $40 per day will be billed. 9. to accept that once a vehicle is awarded, failure to complete the purchase transaction, regardless of the reason, the buyer shall remit a Penalty Fee of $300 for each vehicle sold for less than $10,000; $500 for each vehicle sold for $10,000 to $20,000 and $1,000 for each vehicle sold for more than $20,001. 10. to authorize us to charge any credit card on file for any pending fee. 11. to remove Buy It Now purchases the same day they are bought to avoid the late payment fee of $50 and storage fees, beginning with the date of purchase.

MEMBERSHIPS

1. Eligibility. Membership to the website is open to individuals 18 years of age and older who can form legally binding contracts under applicable law, without limiting the foregoing. The website reserves the right to deny membership privileges to any individual or entity, in its sole and absolute discretion.

2. Registration. Prospect buyers must complete the buyer registration form and pay the registration fee to be able to make offers. The registration option is:

a) A $10.00 USD monthly or a $100.00 yearly registration fee. Paid registered buyers are allowed to purchase only the vehicles listed on the website to which they paid the subscription fee, in which the dealer purchasing eligibility is not restricted at Copart by yard-specific registration requirements, applicable laws and/or regulations, and in which the buyer has paid the required security deposit on time. The buyer can cancel the subscription at any time; the subscription fee is Non Refundable.

3. Renewal. By registering all buyers authorize the website to automatically charge a membership renewal fee of $10.00 USD monthly or $100.00 USD yearly to maintain active the membership to the website. The renewal is automatic so buyers that do not wish to continue must cancel the subscription before the day of the next scheduled payment. The website reserves the right to modify registration and renewal fees at any time without notice.

4. Account Security. Buyers are responsible for maintaining the confidentiality of the user ID and password, and are fully responsible for all activities that occur under their login, password, or on their account. The buyer agrees to (i) immediately notify the website of any unauthorized use of the login and password or account or any other breach of security, and (ii) ensure that exits from the account at the end of each session. Buyer's account may not be transferred or assigned to any person or entity. In the event a Buyer's account, user I.D., or login and password are used without authorization, Buyer shall be responsible for all account activity and charges incurred prior to the website's receipt of written notice from Buyer of the unauthorized activity. Neither the website nor the dealer will be liable for any loss or damage arising from the Buyer failure to comply with this section.

5. Membership Revocation. The Buyer acknowledges and agrees that the website reserves the right to suspend or revoke the membership for any reason, in its sole and absolute discretion, including without limitation breach of security, lack of use and payment obligations not fulfilled. Further, buyer agrees that neither the website nor the dealer will issue any subscription refund and shall not be liable to the buyer or any third-party for any termination of the access to the website.

6. Release of Liability and Indemnification. Buyers and their guests irrevocably and unconditionally waive and release their rights (if any) to recover from the website, Copart and the dealer, its directors, officers, employees, representatives, agents, subsidiaries, partners, and affiliates, any and all damages, losses, liabilities, costs expenses, or claims therefore, whether direct or indirect, known or unknown, or foreseen or unforeseen, which may arise from or be related to bodily injury, property damage, or other occurrence which occurs on Copart or the dealer's premises. Buyers agree to indemnify, defend, and hold the website, Copart and the dealer harmless from any and all damages, losses, liabilities, costs or expenses (including attorneys fees), arising from claims made by Buyer and Buyer's guests for arising from or related to: 1) bodily injury or property damage occurring on Copart or the dealer premises, 2) Buyer's failure to comply with applicable laws or regulations, 3) Buyer's subsequent sales or transfers of Vehicles to third parties, and 4) claims made against the website, Copart or the dealer by Buyer's guests, agents, employees, or customers. UNDER NO CIRCUMSTANCES, INCLUDING NEGLIGENCE, WILL THE WEBSITE, COPART OR THE DEALER BE LIABLE FOR ANY SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OR LOST PROFITS THAT RESULT FROM OR ARE RELATED TO THE SALE, DISTRIBUTION, USE OF, OR INABILITY TO USE, ANY VEHICLE, EVEN IF THE WEBSITE, COPART OR THE DEALER INDEMNITIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Buyers and guests who are California residents waive California Civil Code ?1542, which reads: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

7. Marketing and Promotional Materials. Buyers agree they have affirmatively requested to receive marketing and promotional materials via mail, e-mail, and facsimile.

FEES, PAYMENTS AND REFUNDS

1. Security Deposits. Buyers must pay a minimum of $400.00 USD or 10% of the offer amount (whichever is greater) as security deposit for each vehicle they intent to purchase. This security deposit protects us if the buyer fails to pay as we are responsible for ensuring payment to Copart for all the vehicles awarded. The buyer agrees to:

a) The security deposit must be paid in full before 12.00pm local time of the Copart yard where the vehicle is stored; 10:00 am if bidding in Eastern Time Zone.

b) If the security deposit payment is not received on time, the dealer will not pursue the acquisition of the vehicle on behalf of the buyer at Copart.

c) In the event that a buyer fails to pay 5 consecutive security deposits, the membership will be suspended for 30 days or the buyer will have to pay a $50.00 USD fee to have the membership re-activated.

d) A $400.00 USD security deposit will be enough to allow the buyer to purchase one (1) vehicle up to $4000.00 USD.

e) If a buyer wants to purchase a vehicle for more than $4000.00 USD, the buyer must pay an additional security deposit of $100.00 USD for each $1000.00 USD that wishes to offer.

f) The security deposit can be used as part of the payment of an awarded vehicle.

g) The security deposit is NON REFUNDABLE if the vehicle has been acquired from Copart by the dealer and the purchase transaction is canceled by any of the parties, regardless of the reason.

h) The security deposit is NON REFUNDABLE if the buyer fails to pay the balance due on time.

i) The security deposit is NON REFUNDABLE if the buyer has any payment pending on any of the other websites of the network.

j) The security deposit is refundable ONLY if the vehicle is not purchased by the dealer, (the vehicle sells for more at Copart than the buyer's maximum offer, or the offer is not approved by the seller at Copart).

k) Security deposit refunds requested by the buyer will be made if the buyer has met all payment terms. In the event that the buyer fails to meet any payment term the security deposit will be used to fulfill the debt.

l) The security deposits are refunded to the same source from where the payment was originated. If this is not possible then a check will be sent by mail. Electronic refunds normally take 3 to 5 business days. It may take longer for international accounts.

m) The buyer is responsible for any and all the fees generated by security deposit refunds. n) The security deposit is non-refundable if there are any vehicles waiting to leave the yard.

If a vehicle is removed without paying the storage fee(s), the fees will be deducted from the security deposit on fund. o) We reserve the right to only accept cash deposits from some members. p) Refunds of deposits over 90 days are subject to additional fees.

2. Transaction Fees. The buyer agrees to pay Broker and Copart Buyer fees for each vehicle purchased based on the following tables:

Sale Price Range

$0.01 - $99.99 $100.00 - $199.99 $200.00 - $299.99 $300.00 - $399.99 $400.00 - $499.99 $500.00 - $549.99 $550.00 - $599.99 $600.00 - $699.99 $700.00 - $799.99 $800.00 - $899.99 $900.00 - $999.99 $1,000.00 - $1,199.99 $1,200.00 - $1,399.99 $1,400.00 - $1,599.99 $1,600.00 - $1,799.99 $1,800.00 - $1,999.99 $2,000.00 - $2,499.99

Copart Buyer Fees

$1.00 $25.00 $50.00 $75.00 $110.00 $125.00 $130.00 $140.00 $155.00 $170.00 $185.00 $200.00 $225.00 $250.00 $275.00 $300.00 $325.00

$2,500.00 - $2,999.99 $3,000.00 - $4,999.99 $5,000.00 - $7,499.99 $7,500.00 - $9,999.99 $10,000.00 - $14,999.99 $15,000.00 - $19,999.99 $20,000.00 - $24,999.99 $25,000.00 - $29,999.99 $30,000.00 - $34,999.99 $35,000.00 - $10,000,000.00

$350.00 $400.00 $425.00 $450.00 $500.00 $550.00 $600.00 $650.00 $700.00

2%

o Heavy Vehicle Member Fees

Sale Price Range

$0.01 - $49.99 $50.00 - $99.99 $100.00 - $199.99 $200.00 - $299.99 $300.00 - $349.99 $350.00 - $399.99 $400.00 - $449.99 $450.00 - $499.99 $500.00 - $549.99 $550.00 - $599.99 $600.00 - $699.99 $700.00 - $799.99 $800.00 - $899.99 $900.00 - $999.99 $1,000.00 - $1,199.99 $1,200.00 - $1,299.99 $1,300.00 - $1,399.99 $1,400.00 - $1,499.99 $1,500.00 - $1,599.99 $1,600.00 - $1,699.99 $1,700.00 - $1,799.99 $1,800.00 - $1,999.99 $2,000.00 - $2,399.99

Copart Member Fees $1.00 $1.00 $25.00 $50.00 $75.00 $75.00 $110.00 $110.00 $125.00 $130.00 $140.00 $155.00 $170.00 $185.00 $200.00 $225.00 $240.00 $250.0 $260.00 $275.00 $285.00 $300.00 $325.00

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download