Registered terms and conditions
By registering as a buyer (“Buyer”) with Preferred Auto Brokers (“PAB”) you agree to be bound by the following terms and conditions. PAB reserves the right to amend these terms and conditions at any time without prior notice to the Buyer.
Eligibility – Individuals wishing to register must be 18 years of age or older and meet all requirements imposed by federal, state, and local government laws and regulations. In addition, PAB site-specific registration requirements will apply. PAB reserves the right to deny or cancel membership of any individual or entity at its discretion.
Account Responsibility – You will receive a Copart Online Bidding Login ID (“Login”) and a password (“Password”). You are responsible for your Login and maintaining the confidentiality of your Password. You agree your Login will only be used by or disclosed by you to any other duly authorized employees/agents on your account. Payment responsibility remains with you for all bids placed and accepted by you. You agree to immediately notify PAB of any unauthorized use of your Login or any other potential or actual breach of System security. You agree to exit from the system at the end of each session to minimize the possibility of an unauthorized person using your Login. Your Login and account cannot be transferred or assigned to any other person or entity. You acknowledge that once the System accepts your online bid, it can only be deleted for sealed bid sales. Please be careful when placing your bids. You acknowledge that PAB reserves the right, in its sole discretion, to delete, disable or suspend your Login at any time for any reason including, but not limited to, non-payment or late payment of any money due PAB, You further acknowledge that PAB reserves the right to change the System or the general business practices related to the System, at any time, temporarily or permanently, in its sole discretion, with or without notice.
Membership Cancellation – PAB reserves the right to suspend or revoke the buying privileges of a Buyer for any reason.
Release of Liability – Buyers irrevocably and Unconditionally waive and release their rights (if any) to recover from PAB, its directors, officers, employees, representatives, agents, subsidiaries, and affiliates any and all damages, losses, liabilities; cost or expenses and claims thereof, whether direct or indirect, known or unknown, or foreseen or unforeseen, which may arrive from, or be related to, bodily injury, property damage, Under no circumstances, including negligence, shall PAB be liable for any special, incidental, or consequential damage or lost profits that result from or are related to the sale, distribution or use of, or the inability to use, any vehicle, even if PAB has been advised of the possibility of such damages. Buyers and guests who are California residents waive California Civil Code §1542, which states: “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.” Furthermore, Buyers agree to indemnify, defend, and hold PAB harmless from any and all damages, losses, liabilities, costs or expenses.
Buyer agrees and acknowledges that Buyer is purchasing from PAB, not Copart.
Fees – A buyer fee will be charged for each vehicle purchased. Other fees may also apply. It is the sole responsibility of the Buyer to verify fees charged by PAB prior to incurring such charges. All fees are subject to change without notice.
Payment – Payment for any vehicle awarded is due within 2 working days (auction day plus 1 working day, i.e., if auction is on Monday, payments is due by close of business on Tuesday). Vehicles not paid within specified time frame will be subject to a Late Fee of $50 per vehicle. Payment for vehicles may be made by wire transfer or Pay-Pal.
Sales Tax Indemnification – Buyers purchasing vehicles from PAB upon presentation of a sales tax exemption certificate agree to indemnify, defend and hold PAB harmless from any and all sales tax assessments, fines, penalties, damages, and costs, including attorney fees, incurred as a result of a taxing authority determination that the transaction was subject to the payment of sales or excise tax. Colorado buyers will be charged applicable Colorado sales tax.
Relist Fee – In the event a buyer reneges on a vehicle, buyer agrees to pay PAB the relist fee of $400 or 10% of sale price, whichever is greater. Buyer is also responsible for any and all collection costs, including attorney fees and court costs. Bidding privileges will be suspended until payment has been received. Any buyer that reneges on a second vehicle will have his bidding privileges revoked.
All registered buyers are considered as represenitives of PAB and are expected to act in a professional manner at all times that you are logged in to Coparts website.
Copart Fee Link (add to PAB fees)
Internet Bid Fees – Copart offers bidding kiosks in the lobbies of all of its facilities. These kiosks can be used to place preliminary bids on vehicles located at that particular yard. If a winning bid was placed on a vehicle using a kiosk located at that yard, no internet fees are assessed against that vehicle. If the winning high bid was placed during Preliminary Bidding via the internet, Copart charges a convenience fee to the high bidder. The fee is based upon the high bid amount: a fee of $35.00 for sale prices from $1.00 up to $999.99, a fee of $50.00 for sale prices from $1,000.00-$1,999.99, a fee of $75.00 for sale prices of $2,000.00 or higher. If the winning high bid was placed during the live Virtual Auction, then the fee is $35.00 regardless of sale price.
Gate Fee – A $30.00 Gate/Loading fee is assessed to all vehicles. This fee covers the movement of the vehicle from Copart’s sale/storage facilities to the buyer’s loading area. For buyers whom are picking up the vehicle up with vehicle transporters, this fee covers the time and manpower required to assist the driver in loading the vehicle onto the truck. Drivers are 100% responsible for securing their load at all times.
Additional Fees (if applicable) – If a vehicle and all applicable fees are not completely paid within 3 business days of purchase including the sale day, a fee of $50.00 per vehicles will be assessed. In addition, storage will begin to accrue on vehicles at the rate of $20.00 per day after 7 days, including sale day, if the high bid was placed over the internet or after 3 days, including sale day, if the high bid was place during preliminary biding using a kiosk at the yard.