SalvageNow™ New Buyer Training Guide

Transcription

SalvageNow™ New
Buyer Training
Guide
Vemark
123 NW 13th Street, Ste. 215
Boca Raton, FL 33432
Table of Contents
INTRODUCTION
3
General Requirements
3
MY HOME
5
USER OPTIONS
6
Login Tab
Company Tab
Shipping Tab
Options Tab
Settings Tab
6
6
7
7
7
BID PROCESS
8
Searching or Shopping
Search Results Symbol Legend
Bidding
Submitting Winning Bid and Payment
Release and Transport
8
10
11
12
15
OTHER NOTABLES AND FEATURES
17
Titles Shipped Category
Bid Extensions
Internet Enhanced - Physical Auction Search
Buyer’s Fee Schedule
Late Payment Fees
17
17
17
18
18
Vemark™ SalvageNow™
New Buyer Training Guide
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1
ReList Fee
Non-Payment Resale Adjustment
Late Pick up Fee
Other State Fees
19
19
19
19
TERMS & CONDITIONS
20
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SalvageNow™ New Buyer
Training Guide
Introduction
Welcome to the SalvageNow™ New Buyer Training Guide. In the pages that lie ahead, you will find a very intuitive, graphical
overview of the basic functions found within SalvageNow. Every attempt has been made throughout this guide to tie in key points
found in the Terms and Conditions. It is highly recommended, however, that a thorough review be made of the Terms and Conditions
found at the end of this guide. It is our goal that your SalvageNow experience be positive and that this guide helps makes that
possible.
General Requirements
Customers interested in participating on SalvageNow must agree to Vemark’s Buyer Terms & Conditions and be registered with
SalvageNow.
•
•
•
•
Only companies with licenses in good standing are permitted to buy vehicles.
You agree to be bound by the Buyer Terms and Conditions.
You must be over 18 years old and be able to form legally binding contracts.
You will be required to provide Vemark with the following information.
• User Information (utilize form provided by Vemark).
• Up-to-date Vehicle Dealer's License, Salvage License, Dismantler/recycler or equivalent.
• Official proof of age.
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•
•
•
•
• Appropriate, completed tax-exempt documentation
• A signed copy of the Terms & Conditions
A buyer may raise a bid, however, a bid may never be lowered.
Bids may not be cancelled once they are placed by the buyer. In the event that a buyer defaults on a bid, penalty fees will
apply as follows:
• A re-listing fee equal to $300.00, AND
• A penalty fee consisting of the difference between the defaulted sale price and next highest bid.
• The buyer will be unable to place new bids until all penalty fees have been paid in full.
All sales are final, “AS-IS” and “WHERE-IS”
In addition, neither Seller nor Vemark are responsible for damages to vehicles caused by Acts of God once the Seller has
released the vehicle to the Buyer. Buyer is responsible for the vehicle once the vehicle leaves the location and is responsible
for inspecting the vehicle carefully before removal from the location.
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My Home
The My Home page is the first page you see following login. It gives you all of your pertinent information at a glance. In addition,
you can modify all of your account settings and preferences by clicking on your name. This is covered in greater detail in the chapter
entitled User Options. Clicking on the question marks gives a brief definition of the corresponding category.
Figure 1.1
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User Options
The User Options screen contains five tabs for making settings specific to the user; Login, Company, Shipping, Options and
Settings.
Login Tab
• Password changes
• Setting of Email address for automatic notifications and correspondence from Seller.
Company Tab
• Company information is entered here including address, phone and dealer’s license number.
• The information entered here is the address to which Titles will be assigned and delivered. It must match that of your
dealers license.
• Dealer’s License Number - it is important to keep this information current or blocking of bidding privileges will result.
Figure 2.1
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Shipping Tab
• Address used as destination for vehicles being transported.
• Address used in Transport Charge estimate calculation.
Options Tab
• Settings for how SalvageNow interacts with you.
• Select Yes or No for each item to decide which events you would like to receive email notifications on.
• The email address where notifications are sent is set in the Login Tab.
Settings Tab
• Allows you to specify which view or screen layout you prefer when in the Vehicle View.
• Allows you to specify which layout you prefer when printing from the Vehicle View.
Figure 2.2
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Bid Process
The bidding process consists of a specific series of events. These events, when put into action from the very beginning to the very
end, establish a noticeable flow of events or tasks that are executed by the buyer or the seller. This section illustrates this flow.
Searching or Shopping
The bidding process begins with the search for the vehicle(s) desired by the buyer. This can be started from all three screens: My
Home, Auctions or Vehicles.
Choose as many or as few search criteria items as you like. Keep in
mind that specifying to many might be too restrictive and result in no
vehicles found.
The Jump To feature at the right of the screen allows you to
automatically filter out a specific Make, Condition or Vehicle
Type.
Figure 3.1
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The Auctions View page gives a forward-looking view into what
auctions are currently running right now compared to the information
given on the My Home page, which, only displays up to 3 days
worth of information.
Clicking on any of the dates or counts produces a list of the
corresponding vehicles.
Figure 3.2
The search results shown to the right were achieved by
clicking the Sport Utility link under Jump To: -Type
found on the Vehicle Search page (see page 8).
Figure 3.3
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Search Results Symbol Legend
The color of the dots in the Status column
represent where the vehicle is in the auction
cycle or if it is a Sealed Bid Auction or Direct
Offer vehicle.
Symbols found in the Win/Lose column of your
Active Bid list are also noted.
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Bidding
Figure 3.4
Actual bidding takes place on the Vehicle View page where the Bidding Console is located. The Vehicle View page also contains
other nice features:
• Bid Watch
• Watch List
• Alt. View
• Print View
The High Bid value is in red until the reserve is met in which it will turn green.
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The Auction Fee field displays the additional fee if the auction should be a physical salvage auction and is not an online auction. In
cases like this, you place a maximum bid and Vemark then goes to the physical auction and bids on your behalf up to your maximum
bid. This is referred to as a “Sealed Bid”.
Note
Once a bid has been submitted, the bid cannot be retracted, deleted, or cancelled and all fees will apply.
Submitting Winning Bid and Payment
1.
After submitting the winning bid, SalvageNow sends a notice to the High Bidder via email indicating:
a: That you are the High Bidder.
b: That we are awaiting the formal “award” from the seller.
SalvageNow sends an “award” request to the Seller. The Seller must award the vehicle if the Reserve is met. If the reserve is not
met, Vemark will work with both parties to negotiate a sale price. The negotiation process usually takes up to 24 hours from the date
the auction closed.
2.
Buyer receives an Award Message via email from the Seller.
3.
Buyer goes to My Home and clicks the Unpaid Vehicles link.
4.
From the Unpaid Vehicles list, the Buyer clicks on the first car
requiring payment, which, opens up the Vehicle View page that now
represents a closed, auction vehicle. Notice how the Bid console is now gone
and has been replaced with the first of a series of documents to select in PDF
format.
5.
Buyer clicks on the Invoice PDF to open and print the invoice. See
the Figure 3.6 below with the Invoice PDF boxed in blue.
Figure 3.5
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6.
With-in 3 business days from receiving the “Award Message”, the Buyer must send payment (cost of the vehicle plus
buyer’s fees) via wire transfer to Vemark. The routing information and wire transfer instructions are on the Buyer’s invoice.
The date the Award Message is received is the Invoice Date.
Figure 3.6
2
In most cases, vehicle payment is sent through SalvageNow for credit to the seller; however, buyer may be required to
remit payment directly to the seller as directed on the Invoice. If vehicle payment should be sent to Vemark, the invoice will
show the vehicle amount and the buyer's fee in the total amount to be wired. If vehicle funds should be sent directly to the
seller, the invoice will only show the vehicle payment amount and information and a separate invoice from Vemark, for the
buyer's fee, will submitted to the buyer with instructions.
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7.
Confirmation of wire transfer must be faxed to Vemark at: (561) 392-4483. Confirmation must include the following:
a.
b.
c.
d.
e.
8.
Name of the remitting company.
Company invoiced (if different from the remitter).
What vehicle(s) are being paid for.
The application of funds itemized to show what vehicles are being paid for, what fees are being covered, etc.
The total remitted.
Sign the invoice and fax to Vemark.
9.
All vehicle payments are due within 3 business days of the Date of Award. After 3 business days from the time of
award, a $50 fee per awarded vehicle unpaid will be assessed.
10.
Vemark will process the payment upon receipt of the faxed confirmation of payment and signed invoice.
2 If payment is not received after 5 business days, the BUYER is
subject to a $300 charge, the car is re-auctioned and the Buyer is
charged the difference between the actual selling price and the price
the of the Buyer’s original bid.
2 Checks, Money Orders, Certified Checks or other non-electronic
means of payment will not be honored or regarded as payment.
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Release and Transport
1.
Within approximately four business days from payment, Vemark sends the Buyer a notice via email that their payment has
been acknowledged and the vehicle has been released. The vehicle will appear on the Buyer Home Page under Waiting for
Transport Decision (see Figure 1.1).
2.
At this point ownership of the vehicle has changed hands and the Buyer now owns the vehicle.
3.
Buyer should go to Waiting for Transport Decision from the buyer home page (see Figure 1.1) and select the vehicle to be
released.
4.
From the Vehicle View page, select and print the Release
form PDF (see Figure 3.6).
5.
If the Buyer decides against utilizing Vemark to assist with
transport, the Buyer will call the Seller to coordinate pick-up of the
vehicle. The Buyer must call the Seller 24 hours prior to pick-up of
the vehicle to insure the vehicle is ready. Make note of the person
spoken with and the date/time of the conversation.
6.
The Release Form MUST be furnished at the time of vehicle
pick-up. Depending on the Seller, the location of the vehicle and other
circumstances, additional storage charges may accrue after the sale of
the vehicle. If there will be any additional charges, it will be detailed
within the vehicle information page.
7.
The Seller sends the Title to Vemark upon Release of the
vehicle. Vemark, in turn, sends the Title to the Buyer via a trackable
courier.
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2 As a Buyer on SalvageNow, you are responsible for making your own pick up or transportation arrangements. Vemark
will assist in the arrangement of transportation, but does not guarantee the transportation by third parties.
Vemark is not responsible for timely pick up or transport.
If the vehicle is NOT picked-up within 14 calendar days of date of release, the Buyer is subject to a late fee of $250 plus
a possible relocation charge, regardless of who arranges transport. Buyer will be required to make full payment of said
fee and any other storage or pool charges assessed by the location for tardy removal of the vehicle. Trucks such as box
trucks, vans, buses, etc. are subject to higher penalties due to size and difficulty of transport.
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Other Notables and Features
Titles Shipped Category
To see the history of Titles shipped to you, click on the Vehicle Process
Category entitled Titles Shipped to You from the My Home page. The list
that results even contains the shipment tracking number. Clicking on the
tracking number brings up the courier’s website and displays the tracking
information.
Bid Extensions
Auctions are extended in five-minute intervals if bids are being executed within the last five minutes of an auction. If bidding activity
continues, five-minute extensions will continue to be added until all activity stops.
Internet Enhanced - Physical Auction Search
The Vehicle Search page defaults to Online Only vehicle
searches. By clicking on Internet Enhanced the Vehicle
Search page will toggle to the Physical Auction Search
mode.
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Buyer’s Fee Schedule
The amount of the Buyer’s Fee is dependent upon the condition of the vehicle. Vehicles outside of these general conditions are
subject to an override.
Vehicle Condition
Unrebuildable/parts only under $1,000
Unrebuildable/parts only over $1,000
Rebuildable
Any vehicle condition under $15,000
Any condition at or above $15,000
Vehicle Title
Unrebuildable salvage or
Certificate of Destruction (COD)
Unrebuildable salvage or
Certificate of Destruction (COD)
Unrebuildable salvage, Salvage
Title, Rebuildable salvage, or
COD
Clean
Any (including Clean, Salvage,
Rebuildable salvage)
Buyer’s Fee
$100.00
$200.00
$300.00
$300.00
$500.00
Please keep in mind that while you are bidding, the Buyer Fee may change during the bidding as the price is changing. For example;
1.
2.
A clean title vehicle is currently showing a $12,000 high bid and a corresponding standard buyer's fee of $300. You
place an $18,000 bid watch. When the bid on the car exceeds $14,999, the Buyer's fee will change to the override $500
amount.
A parts-only vehicle is currently showing an $800 high bid and an override buyer's fee of $100. You place a $1,200 bid
watch. When the bid on the car reaches $1,000, the Buyer's fee will change to the standard $200 amount.
Additional Buyer Fees may be charged on auctioned vehicles assigned by the Vemark Salvage Auction partner to SalvageNow. You
will be able to view these fees at the time of auction on each vehicle as well as view the salvage auction’s fee schedule. SalvageNow
will provide the total Buyer Fee to you at the time of bidding, which, may be higher then the typical SalvageNow Buyer Fees as a
result of the additional physical salvage auction fees imposed. Each physical salvage auction maintains their own fee schedule and
Vemark cannot guarantee set fees for these vehicles.
Late Payment Fees
The Vemark consignor’s require and strongly enforce timely payment upon award. As a result of this requirement and consistent with
the Terms & Conditions of the site, Vemark requires electronic payment to be made within 2 business days. After 3 business days
from the time of award, a $50 fee per awarded vehicle unpaid will be assessed and the account will be disabled. After five (5)
business days, a penalty of $300 will be assessed and the vehicle will be sold.
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ReList Fee
After 5 business days from the time of award of a vehicle, and if payment is not received for that vehicle, the Buyer will be assessed a
fee of $300 to relist and resell the vehicle plus the difference between the purchase value and the resold value. The Buyer will be
restricted from the SalvageNow online auction site until payment of all fees in full are received.
Nonpayment Resale Adjustment
In the event Buyer does not remit funds in a timely manner for an awarded vehicle and the vehicle is required to be relisted, the Buyer
may be subject to “Loss of Revenue Adjustment”. The adjustment is the difference between the original vehicle purchase price the
Buyer originally agreed to (not including any other fees) and the new purchase price awarded to the back up bidder or Buyer (not
including fees). In addition to the adjustment, our consigning partners may require Vemark to cancel your membership immediately
for breach of contract and may be permanently restricted from purchasing from any or all selling partners.
Late Pick up Fee
In accordance with Vemark’s Terms & Conditions for the SalvageNow online auction site, Vemark will assess a $250* per awarded
and released vehicle that is not moved from the Seller’s location by the 14th calendar day after the release regardless of who arranges
transport. Vemark will assist in the arrangement of transportation, but does not guarantee the transportation by third parties. Buyer
will be required to make full payment of such fee and any other storage or pool charges assessed by the location for tardy removal of
the vehicle.
* Trucks such as box trucks, vans, buses, etc. are subject to higher penalties due to size and difficulty of transport. This fee does not
include local storage costs – these are paid by the buyer directly to the location at the time of pick up.
Vehicles purchased via SalvageNow and located at Vemark’s salvage auction partners, may be subject to additional fees resulting for
late pickup. Vemark does not guarantee a set fee schedule for these auction partners, however at a minimum; Vemark’s policy above
will be in force.
Other State Fees
Be advised that you may be subject to other fees incurred because of specific State Laws. Vemark does not represent vehicles beyond
its duties to inform Buyers of fees because Vemark facilitates commerce between rental/fleet/lease/insurance and
dealer/rebuilder/recyclers, and all sales made on SalvageNow are ‘Where Is” and “As Is”. Vemark does not further represent vehicles
beyond its duties to inform Buyers of fees. However, Vemark attempts to provide knowledge of specific state fees as they arise in
order to better inform you.
Attention Oklahoma Buyers
Oklahoma applies an excise tax to any clean, Oklahoma titled vehicle that is sold to a registered Oklahoma Dealer unless that dealer is
buying a model that matches their franchise; e.g. a Chevrolet dealer buying a Cavalier. If this situation applies, you are subject to the
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excise tax directly from the state of Oklahoma and not from Vemark. Vemark will not further advise nor collect and fees related to
this situation.
Effective Date: October 18, 2004
SalvageNow Online Auction Buyer Terms & Conditions
Important. Please Note Changes:
•
Changes have been made regarding terms on vehicle pick up from rental premises and also Indemnity or Acts of God related to ownership.
•
Payment policy will be strictly enforced at 3 business days by disabling the account. After 5 business days, a penalty will be assessed per
these terms & conditions.
•
Arbitration claims will no longer be accepted after the vehicle has left the seller’s premises and claims must be submitted via the Arbitration
Claim form complete with claim description and photos if needed.
•
General:
As a registered buyer ("Buyer") of Vemark’s SalvageNow® Online Auction you agree to be bound by Buyer Terms and Conditions set forth below.
Vemark reserves all rights and the specific right to amend these Buyer Terms and Conditions at any time without prior notice to you. In addition,
the Terms and Conditions printed on the Release Form, and also the SalvageNow website located at www.salvagenow.com are incorporated into
these Buyer Terms and Conditions by reference. All sales are final, “AS-IS” and are made FOB (Freight on Board) Origin and all fees are quoted
in U.S. Dollars.
•
Member Requirements:
To become an active and approved buying member in the SalvageNow community, the first provider of online salvage vehicles, you will be
required to follow the Terms and Conditions that follow. To purchase vehicles you must be a licensed vehicle dealer as required by your state
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department of transportation. In order to access the SalvageNow site, you also must be over 18 years old and able to form legally binding
contracts.
In addition, and prior to the purchase of a vehicle, you will be required to provide the following information to Vemark:
•
•
•
•
•
User Information (see Form Provided)
Up-to-date Vehicle Dealer's License, Salvage License, Dismantler/recycler or equivalent
18 years of age or older (picture of Driver's license or state ID card)
Appropriate, completed tax-exempt documentation
A signed copy by execution of electronic acknowledgement of these terms & Conditions
*To avoid any improper billing or title handling, please notify us IMMEDIATELY if any of your information changes.
Only companies with licenses in good standing will be permitted to buy vehicles. Vemark reserves the right to refuse services to anyone at
anytime. Within 2 business days of the receipt of the information noted above, you will be granted a password and user name and immediate
access to the SalvageNow online vehicle auction site.
As a registered buyer, you will also have access to bid on those cars made available on SalvageNow that are located at salvage auctions which
Vemark partners with. Your bids, and your purchases, will be managed through Vemark’s license with those auctions directly and all payment,
pick-up and other charges contained within these Terms & Conditions remain in force. Additional Buyer Fees and other special Pool fees may be
charged by the salvage auction partner and will be shown to the bidder on each vehicle at the time of bidding (Note additional fees under Fee
Schedule).
Finally, please note that each time you have accessed the site; you will be responsible for review of the Terms & Conditions and acknowledge that
you are bound by these. This is provided to update terms & Conditions to keep pace with the consignor requirements as well as maintain a quality
auction experience. Should questions, or suggestions, arise regarding the Terms and Conditions as well as the use of the online auction site,
please do not hesitate to contact us at (561) 392.6266.
•
Auction Policies:
As a registered buyer and auction participant on SalvageNow Online Auctions, Vemark will uphold the policies set forth below to assure a fair
bidding environment and satisfying auction for the Vehicle Consignor and Buyer alike:
Placing Bids:
Once you have placed a bid, you will be asked to confirm it before submitting it. Once the bid has been submitted, the bid cannot be retracted,
deleted, or cancelled and all fees will apply.
Rejection of a Bid:
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Vemark and its vehicle consignment partners reserve the sole and absolute right to reject any bid regardless of the amount. Vemark, on behalf of
its partners has the exclusive right, sole and absolute discretion to resolve any and all disputes arising from any SalvageNow auction. Buyers
agree to indemnify, defend, and hold Vemark and its partners harmless from any and all liability arising out of decisions made in resolving
disputes.
Vehicle Award:
Vehicles auctioned on SalvageNow are awarded on the basis of the consigning partner’s “Approval" and therefore require approval and release by
the partner. Vemark offers only a conditional award to the highest bidder and Vemark’s partners have the sole discretion to accept or reject the
high bid. Vemark partners have up to 5 business days to award the vehicle, however this Award Period is typically within 1 business day from the
date of auction close. Vemark makes no guarantees to Buyer for any Award time frame.
Vehicle Release
Vemark reserves the right not to release any vehicle for any reason. Vehicle Releases are granted by Vemark’s partners after the receipt of
sufficient collection of fees from Vemark as received sufficiently directly from the Buyer within 2 business days from the date of Vemark’s
collections. Vemark makes no guarantees to Buyer for any Award time frame.
Post-Auction Damage & Disputes:
Vemark and its partner shall not be responsible for any damage that is brought to Vemark’s attention after the vehicle leaves the location where it
was sold from. All vehicles sold in the SalvageNow Online Auction are sold AS-IS and WHERE-IS. Buyer is responsible for the vehicle once the
vehicle leaves the location as is responsible for inspecting the vehicle carefully before removal from the location.
In the event the Buyer uses third-party transportation companies to transport vehicles purchased, and there is a dispute about the vehicle
condition after the vehicle leaves the premises where it was sold, the arbitration claim should be made between Buyer and transporter.
In the event a claim is necessary, the Buyer must go to www.salvagenow.com enter your user and password, and then select “Help”. In the Help
Section, you will find the PDF of the Arbitration Claim form which must be completed and faxed to: 561-892-2935 to the Attention of Customer
Service
•
Fee Schedule:
Vemark does not require payment of its members to participate in the auctions conducted on the SalvageNow site. Vemark does require the
following fees be paid prior to the release of the vehicle’s title and the vehicle itself upon award. (Please see terms & Conditions). Vemark Fees
are as follows:
Buyer Fees:
The amount of the Buyer’s Fee is dependent upon the condition of the vehicle. Vehicles outside of these general conditions are subject to an
override.
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Vehicle Condition
Price under $1,000
Parts Only & Unrebuildables (over $1,000)
Any vehicle at any price
Priced at or above $15,000
Vehicle Title
Unrebuildable/Parts Only
Any
Clean Title
Any
Buyer’s Fee
$100.00
$200.00
$300.00
$500.00
Please keep in mind that as you are bidding, the Buyer Fee may change during the bidding as the price is changing. For example,
1. A clean title vehicle is currently showing a $12,000 high bid and a corresponding standard buyer's fee of $300. You place an $18,000 bid
watch. When the bid on the car exceeds $14,999 the Buyer's fee will change to the override $500 amount.
2. A parts-only vehicle is currently showing an $800 high bid and an override buyer's fee of $100. You place a $1,200 bid watch. When the
bid on the car reaches $1,000 the Buyer's fee will change to the standard $200 amount.
Additional Buyer Fees may be charged on auctioned vehicles assigned by the Vemark salvage auction partner to SalvageNow. You will be able to
view these fees at the time of auction on each vehicle as well as view the salvage auction’s fee schedule. SalvageNow will provide the total Buyer
Fee to you at the time of bidding which may be higher then those SalvageNow Buyer Fees as a result of the additional salvage auction fees. Each
salvage auction maintains their own fee schedule and Vemark cannot guarantee set fees for these vehicles.
Late Payment Fees:
The Vemark consignor’s require and strongly enforces, timely payment upon award. As a result of this requirement and consistent with the Terms
& Conditions of the site, Vemark requires electronic payment to be made within two (2) business days. After 3 business days from the time of
award, a $50 fee per awarded vehicle unpaid will be assessed and the account will be disabled. After five (5) business days, a penalty of $300 will
be assessed and the vehicle will be resold.
ReList Fee:
After 5 business days from the time of award of a vehicle, and if payment is not received for that vehicle, the Buyer will be assessed a fee of $300
to relist and resell the vehicle plus the difference between the purchase value and the resold value. The Buyer will be restricted from the
SalvageNow online auction site until payment of all fees in full are received.
Nonpayment Resale Adjustment:
In the event Buyer does not remit funds in a timely manner for an awarded vehicle and the vehicle is required to be relisted, the Buyer may be
subject to “Loss of Revenue Adjustment”. The adjustment is the difference between the original vehicle purchase price the Buyer originally agreed
to (not including any other fees) and the new purchase price awarded to the back up bidder or Buyer (not including fees). In addition to the
adjustment, our consigning partners may require Vemark to cancel your membership immediately for breach of contract and may be permanently
restricted from purchasing from any or all selling partners.
Late Pick up Fee:
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In accordance with Vemark’s Terms & Conditions for the SalvageNow online auction site, Vemark will assess a $250* per awarded and released
vehicle that is not moved from the Seller’s location by the 14th calendar day after the release regardless of who arranges transport. Vemark will
assist in the arrangement of transportation, but does not guarantee the transportation by third parties. Buyer will be required to make full payment
of such fee and any other storage or pool charges assessed by the location for tardy removal of the vehicle.
* Trucks such as box trucks, vans, buses, etc. are subject to higher penalties due to size and difficulty of transport. This fee does not include local storage costs – these are paid by the
buyer directly to the location at the time of pick up.
Vehicles purchased via SalvageNow and located at Vemark’s salvage auction partners, may be subject to additional fees resulting for late pickup.
Vemark does not guarantee a set fee schedule for these auction partners, however at a minimum; Vemark’s policy above will be in force.
Other State Fees
Be advised that you may be subject to other fees incurred as a result of specific State Laws. Because Vemark facilitates commerce between
rental/fleet/lease/insurance and dealer/rebuilder/recyclers, and all sales made on SalvageNow are ‘Where Is” and “As Is”, Vemark does not further
represent vehicles beyond its duties to inform Buyers of fees. However, Vemark attempts to provide knowledge of specific state fees as they arise
in order to better inform you.
Attention Oklahoma Buyers
Oklahoma applies and excise tax to any clean, Oklahoma titled vehicle that is sold to a registered Oklahoma Dealer unless that dealer is buying a
model that matches their franchise. E.g. a Chevrolet dealer buying a Cavalier. If this situation applies, you are subject to the excise tax directly
from the state of Oklahoma and not from Vemark. Vemark will not further advise nor collect and fees related to this situation.
•
Payment Requirements:
Vemark requires all payments to be made in accordance with its invoices and the Terms & Conditions of the SalvageNow online auction site
before a vehicle may be picked up or transported. All payments must be made electronically to Vemark as noted on the Invoice received by the
Buyer. Checks, Money Orders, Certified Checks or other non-electronic means of payment will not be honored or regarded as payment. All
payments must be made in U.S. Dollars.
Payment for an awarded vehicle involves the following:
1. Vehicle Payment: the purchase price of the vehicle
2. Buyer’s Fee: The assessed fee for the vehicle
3. Payment is to be made electronically to the bank information provided on the Invoice*
All vehicle payments are due payable within 3 days of the Date of Award. After such time, buyer will be subject to additional late penalties as
described in the Fee Schedule.
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Please note that all payments made to Vemark for a single transaction of $10,000 or more in cash are reported to the IRS using From 8300. This
includes small, sequential payments for a single transaction.
•
Proof of Payment Confirmation
You are required to send a fax of the confirmation on any wire transfer made related to the vehicle(s) you have purchased via the SalvageNow
online auction site. Failure to provide this confirmation will result in a delay of recording your payment as well as the risk of additional penalties and
late fees with the ultimate penalty potential of a loss of the vehicle.
When providing the confirmation, make sure that your confirmation clearly identifies the following:
•
•
•
•
•
The name of the remitting company
The company invoiced (if different from the remitter).
What vehicle(s) is being paid for
The application of funds. (How much is vehicle, how much is fees).
The total amount remitted.
Send us a copy of your vehicle invoice(s) along with the wire confirmation recorded on it to confirm payment. All confirmations are to be faxed to:
(561) 392.0564 Attention: Accounting
•
Title Handling & Processing
Vemark’s SalvageNow online auction facilitates the sale and the transactions that occur within an auction between the individual buyers and the
sellers (vehicle consignors). As a result of this model, Vemark has no control over the delivery of the actual title, and as such does not guarantee
either the type of title or a time frame for title delivery. Vemark appropriately discloses all Title information, as it is received prior, during or after the
sale. Furthermore, all information regarding the Vehicle Title Type (clean title, Rebuildable salvage, certificate of destructions, etc.) are
determined exclusively by the legal status of the title, obtained from either a statement by the seller or from the actual title document.
Vehicle history records may reside in other third party databases or at external sources that have not altered the legal status of the specific vehicle
title.
•
Vehicle Removal, Storage & Transport
Depending on the seller and the location of the vehicle, a specific vehicle may have accrued storage charges. Furthermore, depending upon
circumstances after the award of the vehicle to the buyer, storage charges may accrue after the sale. If a buyer is required to pay any charges
relating to storage or vehicle removal it will be detailed within the vehicle information page. Regardless of storage or removal charges, vehicles
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26
should be removed within 7 days of the vehicle release date and no later than 14 days. Individual Sellers may have additional or special
requirements.
It is the buyer's responsibility to remove the vehicle in a timely manner as well as to call the location and exact contact listed 24 hours in advance
of pick-up as noted on the Release From. Vemark does not guarantee the vehicle location nor will process arbitration claims for dry runs, change
of location or other. Vemark maintains the fairest vehicle auction representation possible within its capabilities, but has not physically visited the
location of the vehicle or physically view the vehicle. Buyers are strongly urged to call the proper contact as early as possible and to coordinate
with Vemark well in advance of the 14 day pick up time limit.
If the awarded and released vehicle is not picked up or transported off of the Seller’s location by 3PM EST on the 14th calendar day after the date
of release, the buyer will:
o
o
Be charged a $250* penalty and the vehicle may be picked up by a Vemark representative and moved to an alternate location (*
higher and size/type dependent for trucks)
May not be able to purchase additional vehicles or pick the vehicle up until all fees are paid in full
As a Buyer on SalvageNow, you are responsible for making your own pick up or transportation arrangements. Vemark provides a transportation
service designed to provide assistance to your efforts as a value to you at no additional cost. However, Vemark is not responsible for timely pick
up or transport. Furthermore, Vemark provides transportation estimates with the car view on the SalvageNow site. These are ESTIMATES and
require further review and confirmation by you and Vemark will not guarantee those rates.
•
Bidding Information
Placement of a bid constitutes an obligation for the Buyer to complete the transaction. A buyer may raise a bid, but a bid may never be lowered.
Furthermore, like all auctions, bids may not be cancelled once the buyer places them. In the event that a buyer defaults on a bid, fee penalties will
result as follows:
o
o
A re-listing fee equal to $300.00, AND
A penalty of the difference between the defaulted sale price and next highest bid.
Finally, when the penalty fees have been assessed, the buyer will be unable to place new bids until all penalty fees are paid in full.
•
Statement of No Warranty
Vemark affirms to the best of its knowledge that all information provided with each vehicle is accurate but has not been explicitly verified. Vehicle
listings and damage information is provided by outside parties and, as with any damaged item, is subject to missed or hidden damages not
specifically described. In addition, neither Seller nor Vemark are responsible for damages to vehicles caused by Acts of God once the Seller has
released the vehicle to the Buyer on SalvageNow acknowledging the sale is completed. Vemark and/or the individual seller are not responsible for
individual vehicle damages. All vehicles are sold AS-IS and WHERE-IS. There is no warranty provided by Vemark, either expressed or implied on
© Copyright 2004
27
any vehicle. All Sales are final.
Vemark and its selling partners provide our services "AS IS" without any guarantee or warranty express or implied. Vemark and its partners
specifically disclaim the implied warranties of title, merchantability, fitness for a particular purpose and non-infringement. Some states do not allow
the disclaimer of implied warranties, so the foregoing disclaimer may not apply to you.
•
System Integrity
The use or attempted use of any software, device, or other method to interfere with the proper working of the SalvageNow site or any related
function is prohibited. Any person or persons found in violation of this provision will be immediately barred from access to the SalvageNow
network. These persons will be prosecuted to the fullest extent of the law.
•
Breach of Terms & Conditions
In the event of a breach of this agreement or if we are unable to verify or authenticate any information you provide Vemark may immediately issue
a warning, temporarily suspend, indefinitely suspend or terminate your membership, remove any of your current auction activity, or remove any
other information you place within our system. Breach of this agreement may constitute grounds for additional legal action not specifically outlined
in this agreement.
•
Vemark’s Limit of Liability
Vemark shall not be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with this agreement or
with the use and the purchase of vehicle(s) using Vemark’s SalvageNow system. The maximum liability of Vemark to our or any third parties in
any circumstance is limited to a complete refund of the buyer’s fee paid to Vemark for the disputed transaction.
•
Compliance with Applicable Laws
All aspects of your dealings with Vemark and/or our suppliers shall comply with all applicable laws, statutes, ordinances and regulations. This
Agreement shall be governed in all respects by the laws of the State of Florida.
•
Statement of No Agency
You and Vemark are independent contractors, and no agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship
is intended or created by this Agreement.
© Copyright 2004
28

SalvageNow™ New Buyer Training Guide

Transcription

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