Yes, let us know how that "arbitration" works out for you. Sounds like a bulletproof guarantee to me - your bought at auction car has a motor/trans/etc that grenades, you simply return it for a full refund of your purchase.
You find 3 people to post on here that this is precisely what happened to them, with a receipt, I'll buy your next car.
Arbitration policy from a local auction company (I imagine they are all very similar).
Notice the final clause, stipulating they can alter the rules at any time for any reason (sounds solid AF). Also the parts where you can only initiate arbitration if the car hasn't left the auction site (lol), and only within 3 days of full payment (more el oh els). The "word of warning" clause is good times as well.
The steps for arbitration are as follows:
Step 1: Pay for the Vehicle. An arbitration claim will not be considered until the Buyer has paid
for the Vehicle in full. The Buyer must have in his/her possession the sales agreement and
release slip for the Vehicle under review. The Vehicle cannot leave the auction site if it is being
arbitrated.
Step 2: Contact the Company. The Buyer initiates arbitration by contacting the Company’s
Branch Manager or by emailing
[email protected]. The arbitration process must be
commenced within three (3) business days of the sale day.
Step 3: Investigation. The Company will review the issue raised. Depending on the nature of
the complaint, the Company may inspect the Vehicle and present a solution. However, in certain
circumstances, the Company may also refer the Vehicle to a specialty shop for consultation and
appraisal. If a specialty shop is consulted, the party against whom the arbitration decision is
made must pay all costs of the consultation including transportation or towing fees, if applicable.
Step 4: Decision. After completing the investigation, the Company will decide whether the
complaint was valid and inform the Buyer of his/her decision. The unsuccessful party will be
responsible for all costs of the arbitration.
Step 5: Remedy. The Company may grant any remedy or relief that it considers to be
appropriate in the circumstances in its sole discretion.
Step 6: Finality. The decision of the Company and the remedy imposed is final and binding on
both parties. By choosing to initiate the arbitration process, the Buyer is agreeing to be bound
by the Company’s decision. By consigning a Vehicle for a sale at auction with the Company, the
Seller is agreeing to participate in any arbitration process that may be initiated, to be bound by
the Company’s decision and to comply with any remedy imposed.
Note: If a Seller or Buyer fails or refuses to comply with the decision of the Company, the Seller
or Buyer will be held liable for all losses, costs and damages including legal fees and any losses
on the resale of the Vehicle. In addition, the Seller or Buyer may have his/her auction privileges
at all affiliated auction locations temporarily or permanently suspended at the discretion of the
Company.
Arbitration Release and Limitation of Liability.
Customer releases and waives all rights, remedies, claims, and causes of action against the
Company, and its present and former officers, directors and employees, and its successors,
predecessors, subsidiaries, affiliates and assigns from any claim or remedy whatsoever,
whether known or unknown, for or by reason of using the services and facilities of the Company
including but not limited to the arbitration process.
A WORD OF WARNING: The arbitration process is not a tool for price reduction or for dealing
with “Buyer’s Remorse”. All Buyers are cautioned to avoid impulse buying and to inspect
Vehicles thoroughly before bidding. Most Vehicles sold at auction have hidden damage and
generally require extensive repair or are not capable of repair and Buyers should allow for this
whenbidding. Arbitrations are regularly monitored by the Company. Any Sellers who engage in
deceptive practices or Buyers who repeatedly submit questionable arbitration claims may have
their auction privileges temporarily or permanently suspended.
14
Auction Policies and Arbitration Rules
IMPORTANT: The Company reserves the right to interpret and modify these Policies. These
Policies are implied terms and conditions of every agreement, whether written, oral, express
or implied that you enter into with the Company or its Customers.