1. All transactions must clear through the office. Sales on the premises in which do NOT clear through the office may be grounds for termination of business.
2. Dealers in attendance for the first time MUST register in the officer before buying or selling.
3. A.D.E. requires that damaged or mended frames and FLOOD cars be announced at the time of sale. Unannounced frame problems and FLOOD cars are the complete responsibility of the seller at the time of discovery within 30 days of the sale.
4. Additionally, we require vehicles with prior or existing salvage titles, whether recovered thefts or rebuilt collision vehicle to be announced at the time of sale. Any unannounced salvages units are the complete responsibility of the seller at the time of discovery within 30 days of the sale.
5. Cars sold for $500 or less are sold "AS IS" and are NOT subject to arbitration. Those sold for $1,500 or less are sold "AUCTION GUARANTEE" only.
6. A.D.E. requires taxis and commercial vehicles (police, municipal, etc.) to be announced at the time of sale. Unannounced taxis and commercial vehicles are the responsibility of the seller at the time of discovery.
7. If the "AS IS" light is on, that means there is an announcement about the car. Satisfy yourself with the information in the announcement before bidding.
8. Cars sold as "RIDE AND DRIVE" are guaranteed by the seller to be mechanically sound within $250 of minor technical defects.
9. Cars sold with an "AUCTION GUARANTEE" are guaranteed by the seller to have a sound power train (block, rods, can, transmission, rear-end). Air conditioning is NOT under the "AUCTION GUARANTEE".
10. Visible defects will NOT be accepted in arbitration. Dealers have one (1) hour to either pay or arbitrate the vehicle purchased. ALL complaints and rejections must be handled through arbitration within one hour! Rejects without cause will NOT be tolerated. The decision of the auction management will be final in all arbitrations.
11. TA SALES - Dealers must announce vehicles with titles at the time of sale. They must also provide the auction with a re-assignable titles within 21 days of the sale date. If the title is not received by the auction within 21 days, the buyer has the option of returning TA vehicles.
12. BUYERS - Do NOT sell or spend any money on TA vehicles until the title is received. The auction will NOT be responsible for any expenses for returned TA vehicles.
13. For money owed to A.D.E. (bad checks, repurchase of vehicles), both the seller and purchaser allow A.D.E. the right of offset at your bank on checks given by A.D.E. The buyer and seller both agree to hold A.D.E. harmless from any and all litigation that may arise from transactions at our auction.
Terms of Sale:
1. Seller (transferor) hereby warrants and guarantees to purchaser (transferee) and to Auto Dealers Exchange ("A.D.E.") that the title to the consigned vehicle is valid and free from all defects, liens, and encumbrances.
2. The seller also warrants and guarantees that the consigned vehicle does NOT have a cracked block, defective transmission, or rear end, and that the consigned vehicle was NOT used as a taxi or commercial vehicles unless so expressly stated in the announced conditions pertaining to the consigned vehicle.
3. The seller is responsible for repurchase of any vehicle sold with a mended or damaged frame or flood damage for a period of 30 days from the date of sale. A.D.E. requires damage on current and one year old model vehicles to be announced.
4. The seller and purchaser agree that A.D.E. is neither responsible for odometer mileage on the consigned vehicle nor the information contained in the odometer mileage statement. The seller (transferor) is required to complete and sign, and the purchaser (transferee) is required to acknowledge this information.
5. Stolen vehicles are to be settled from the purchase price less 2% per month and are the sole responsibility of the seller.
6. The seller is responsible for repurchase of any vehicle sold unannounced with a prior salvage title or state issues MVIN plate for a period of 90 days from the date of sale.
7. The seller and purchaser both agree to indemnify and hold Auto Dealers Exchange ("A.D.E.") harmless from any liability, loss, cost, damage, or expense, including attorney fees, which may arise either directly or indirectly from the sale and purchase of the consigned vehicle. This is including but not limited to title services provided by A.D.E., defects in titles, odometer mileage, or odometer mileage statements.
8. A.D.E. does NOT guarantee the year of foreign cars, house trailers, boats, or motorcycles.
9. For valuable consideration and to secure final payment of any indebtedness owing to A.D.E. arising out of the sale of the consigned vehicle, the purchaser hereby grants A.D.E. a purchase money security interest in such collateral, consisting of the consigned vehicle, together with all additions, accessions, accessories, replacements and in the proceeds thereof. The purchaser hereby authorizes A.D.E. to prepare and file a financing statement without the purchaser's signature being placed thereon.
10. Delivery of the consigned vehicle to the possession of the purchaser prior to both A.D.E. receiving the payment and a valid certificate for the consigned vehicle is solely for the convenience of the purchaser. No title is conveyed or is intended to be conveyed until both conditions listed above have fist been met.
11. Seller and purchaser agree to abide by both registration and A.D.E. policies, copies of which have been furnished to the seller and purchaser.
12. By accepting A.D.E.'s check, the seller agrees to be bound by the TERMS OF SALE and acknowledges completion and execution of the required odometer mileage statement pertaining to the vehicle described.
13. When signing, the purchaser agrees to be bound to the TERMS OF SALE pertaining to the vehicle described.