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THE AUCTION RULES AND ARBITRATION POLICIES OF POLENS BUYBID AUTO EXCHANGE

HEREIN REFERRED TO AS ( THE AUCTION ).

POLENS BUYBID AUTO EXCHANGE INC. IS AN INTERNET BASED DEALER ONLY LIVE AUTO AUCTION. ANY CHANGES IN THE AUCTION REGULATIONS OR ARBITRATION POLICIES WILL BE POSTED AT www.polensbuybid.com PRIOR TO IMPLICATION. THE SELLING DEALER MUST GIVE THE BUYING DEALER COMPLETE AND ACCURATE INFORMATION. OUR GUARANTEE TO THE BUYER IS IF THE VEHICLE IS MISREPRESENTED BY THE SELLER, WE WILL VOID THE TRANSACTION. EACH DEALERSHIP/REPRESENTATIVE IS RESPONSIBLE FOR THE CONFIDENTIALITY OF THEIR PASSWORDS AND ACCOUNT NUMBERS. WE DO NOT GUARANTEE OUR WEBSITE TO BE WITHOUT ERRORS, VIRUSES, OR CONTINUOUSLY OPERATIONAL. THIS WEBSITE, LOGO, TRADEMARK AND SOFTWARE DESIGN IS THE PROPERTY OF POLENS BUYBID AUTO EXCHANGE INC. AND IS PROTECTED BY U.S. COPYRIGHT LAWS.

BY THE ACT OF LOGGING-IN, BIDDING ON, CONSIGNING, BUYING OR SELLING ANY VEHICLE THROUGH POLENS BUYBID AUTO EXCHANGE PRIOR IMPLICATIONNGE YOU ARE ENTERING INTO A LEGAL CONTRACT AND AGREEING TO ABIDE AND BE BOUND BY THE PURCHASE / SALES AGREEMENT AND AUCTION RULES SET FOURTH HERE-IN.

GOVERNING LAW. THE PURCHASE / SALES AGREEMENT AND AUCTION RULES SET FOURTH HERE-IN SHALL BE CONSTRUED AND GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS, WHICH LAWS SHALL PREVAIL IN THE EVENT OF ANY CONFLICT OF LAWS. UNLESS OTHERWISE REQUIRED BY LAW, THE PARTIES SHALL SUBMIT TO THE JURISDICTION OF THE COURTS OF DEWITT COUNTY, ILLINOIS.


1. SALES AT THE AUCTION ARE INTENDED TO PROMOTE FAIR AND ETHICAL TREATMENT TO BOTH BUYER AND SELLER. SELLERS WILL BE HELD RESPONSIBLE FOR THE ACCURACY OF ANY REPRESENTATION MADE TO THE AUCTION AT THE TIME OF SALE. INTENTIONAL MISREPRESENTATION OF VEHICLES WILL RESULT IN TERMINATION OF AUCTION PRIVILEGES. IF THE AUCTION DETERMINES THAT THE TRANSACTION IS NOT FAIR AND ETHICAL TO EITHER PARTY, THE SELLER AND BUYER AGREE THAT THE AUCTION MAY VOID THE SALE AT ITS SOLE DISCRETION. BOTH SELLER AND BUYER FURTHER AGREE THAT THE AUCTION RESERVES THE RIGHT TO DENY USE OF THEIR WEBSITE TO ANY DEALERSHIP OR DEALERSHIP REPRESENTATIVES FOR ANY REASON THE AUCTION DEEMS APPROPRIATE

2. THE SELLER SHALL ALWAYS HAVE THE OPTION TO REPAIR OR PAY TO REPAIR ANY REJECTABLE ITEM THAT IS BEING ARBITRATED TO THE SATISFACTION OF THE AUCTION. THE BUYER / SELLER HEREIN AGREE TO ACCEPT THE DECISION OF THE AUCTION AS TO THE FINAL COST OF THE COMPLETED REPAIR WORK.

3. ANNOUNCEMENTS MEANS THE SELLER HAS MADE STATEMENTS THAT QUALIFY A CONDITION AND LIMIT ARBITRATION OF THAT VEHICLE PERTAINING TO THE ANNOUNCED CONDITION. ANNOUNCEMENTS PERTAINING TO AN ENGINE PROBLEM, DEAD OR BAD MISS, OVERHEATING, TIMING P O'S, OR LOUD ROD OR PISTON NOISE MAY NEED TRANSPORTED / TOWED TO BUYER'S LOCATION. BUYER IS RESPONSIBLE FOR THIS DECISION.

4. RIDE AND DRIVE MEANS THE VEHICLE IS FULLY GUARANTEED, EXCEPT FOR SPECIFIC ANNOUNCEMENTS MADE PRIOR TO SALE AND AUCTION ARBITRATION LIMITS.

5. DRIVE LINE GUARANTEE MEANS THE VEHICLE CAN ONLY BE ARBITRATED FOR ENGINE AND DRIVE LINE PROBLEMS.

6. AS-IS MEANS THERE CAN BE NO ARBITRATION EXCEPT FOR FLOOD, FRAME OR UNI-BODY DAMAGE AND MUST BE REPORTED WITHIN 7 DAYS OF VEHICLE DELIVERY/PICK-UP TIME.

7. THE BUYER IS RESPONSIBLE FOR READING ANNOUNCEMENTS, COMMENTS, VIEWING PHOTOS AND OTHER INFORMATION BEFORE PLACING BIDS. IF A BID IS COUNTERED BY THE SELLER THE BIDDER HAS UNTIL 9:00 AM THE FOLLOWING DAY TO ACCEPT OR COUNTER OFFER THE SELLER. IF THERE IS NO ACCEPTANCE OR COUNTER OFFER MADE BY THE BIDDER THE UNIT MAY BE SOLD TO ANOTHER DEALER.

8. THE AUCTION MAKES NO GUARANTEES AS TO THE DESCRIPTION, EQUIPMENT, HISTORY WARRANTIES, SERVICE POLICY, TITLE STATUS, OR ODOMETER READING ON ANY VEHICLE SOLD.THE AUCTION DOES GUARANTEE IT WILL VOID ANY SALE WHERE A MISREPRESENTATION HAS TAKEN PLACE IF BUYER SO ELECTS.

9. DEALERS ARE NOT ALLOWED TO CONSIGN THEIR OWN UNITS. ONLY A POLENS BUYBID REPRESENTATIVE SHALL CONSIGN UNITS. AN AREA REPRESENTATIVE SHALL BE GIVEN NO LESS THAN SEVEN DAYS PRIOR NOTICE OF CONSIGNMENT BY THE SELLING DEALER. OUR INTENTION IS TO SERVE ALL DEALERS AND WILL BE DONE ON A FIRST COME FIRST SERVE BASIS. THERE IS A $50.00 PER UNIT CONSIGNMENT FEE FOR CONSIGNERS SELLING LESS THAN 25% CALCULATED MONTHLY DUE ON COMPLETION OF CONSIGNMENT.

10. BOTH SELLER AND BUYER AGREE THAT THE ARBITRATION DECISION OF THE AUCTION IS FINAL AND BINDING ON BOTH PARTIES. THE AUCTION MAY CHARGE AN ARBITRATION FEE PLUS ANY CHARGES ASSOCIATED WITH THE ARBITRATION PROCESS TO EITHER PARTY IF THERE HAS BEEN A MISREPRESENTATION.

11. THE AUCTION IS NOT A PARTY TO THE CONTRACT OF THE SALE. THE SALES CONTRACT IS BETWEEN THE SELLER AND BUYER ONLY. THE SELLER IS REQUIRED TO GIVE THE FEDERAL ODOMETER STATEMENT.

12. ANY VEHICLE BOUGHT OR SOLD THROUGH THE EFFORTS OF POLENS BUYBID AUTO EXCHANGE INC. OR BECAUSE OF THE USE OF ITS WEBSITE MUST BE PROCESSED THROUGH THE AUCTION OFFICE AND ALL FEES PAID TO THE AUCTION. DEALERS FOUND TO BE VIOLATING THIS RULE WILL BE DENIED ACCESS TO THE AUCTION WEBSITE.

13. VEHICLES HAVING A REASSIGNED VIN PLATE BY THE STATE IN PLACE OF THE ORIGINAL VIN PLATE MUST BE ANNOUNCED, AND ANY VINPLATE THAT APPEARS TO OR HAS BEEN ALTERED WILL BE CAUSE TO VOID THE SALE.

14. ALL KIT VEHICLES, TRAILERS, MOTORCYCLES, WATERCRAFT, RECREATIONAL, ANTIQUE, HOMEMADE,OR MODIFIED VEHICLES ARE SOLD 100%"AS-IS" WITHOUT GUARANTEES.

15. THE AUCTION RESERVES THE RIGHT TO REJECT ANY VEHICLE IT DEEMS UNSAFE.

16. MOTOR AND DRIVE LINE NOISES THAT ARE INHERENT OR TYPICAL TO A PARTICULAR MODEL, OR DUE TO HIGH MILAGE UNLESS DEEMED EXCESSIVE BY THE ARBITRATOR, MAY NOT BE SUBJECT REJECTION.

17. BUYERS MUST TEST DRIVE EACH VEHICLE PURCHASED WITH A RIDE AND DRIVE, ARBITRATABLE PROBLEMS MUST BE REPORTED WITHIN 24 HOURS OF THE UNITS DEPARTURE FROM THE SELLING DEALERSHIP. TO REPORT AN ARBITRATABLE ISSUE GO TO THE HOME PAGE CLICK ON THE ARBITRATION ISSUES TAB AND REPORT THE PROBLEM. IF THE AUCTION IS NOT NOTIFIED OF ANY PROBLEMS WITHIN THE 24 HOUR TIME FRAME, THE TRANSACTION WILL BE DEEMED COMPLETED. THERE WILL BE NO TRANSPORTATION COST REFUNDED TO THE BUYER ON REJECTED UNITS UNLESS THE AUCTION PERFORMED A POST SALE INSPECTION.

18. MANUFACTURERS WARRANTY SHALL NOT AFFECT A BUYERS RIGHT TO ARBITRATE A VEHICLE.

19. ALL COMMERCIAL VEHICLES MUST BE ANNOUNCED.

20. THE SELLER IS RESPONSIBLE FOR REASONABLE TRANSPORTATION REIMBURSEMENT TO THE BUYER ON VEHICLES RETURNED FOR "NO TITLE" WITHIN THE 35 DAY LIMIT.

21. ANY TITLE DISCREPANCIES CURRENT OR PRIOR, "BRANDED OR FOREIGN", MUST BE ANNOUNCED.

22. ALL TITLES MUST BE IN THE SELLERS NAME OR REASSIGNED TO THE SELLER, CLEAR OF ALL LIENS AND ENCUMBRANCES, AND NEGOTIABLE IN THE STATE WHICH THE VEHICLE IS SOLD.

23. ALL VEHICLES CONSIGNED WITH THE AUCTION ARE SUBJECT TO INSPECTION BY THE FBI, STATE AND LOCAL POLICE AUTHORITIES.

24. THE SELLER IS RESPONSIBLE FOR REPURCHASE OF ANY VEHICLE FOUND TO BE STOLEN PRIOR TO THE AUCTION DATE OF SALE.

25. SELLERS SELLING A TITLE ATTACHED VEHICLE HAVE THE RESPONSIBILITY TO PRODUCE A NEGOTIABLE TITLE TO THE AUCTION WITHIN 35 DAYS OF DATE OF SALE OR THE BUYER MAY RETURN THE VEHICLE AT THE COST OF THE SELLER.

26. THERE ARE NO BUYER TRANSPORTATION COST COVERED ON REGULARLY ARBITRATED / REJECTED UNITS. ONLY BUYERS REQUESTING POST SALE INSPECTIONS WILL HAVE TRANSPORTATION COST COVERED.

27. POST SALE INSPECTION GUARANTEE, CLICK HERE

28. RIDE AND DRIVE GUARANTEE APPLIES ON ANY UNANNOUNCED ISSUES OF VEHICLES COSTING MORE THAN $1000 AND ONLY FOR ANY SINGLE ISSUE THAT WOULD COST MORE THAN $400 TO REPAIR. IMPORTANT ANNOUNCEMENTS: TRANSMISSION, UPPER OR LOWER ENGINE NOISE, DRIVE-TRAIN PROBLEMS, ELECTRICAL PROBLEMS, 4X4 MALFUNCTIONING, CHECK ENGINE, ABS, SRS, ETC. LIGHTS OR EMISSION CONTROL PROBLEMS, AIR CONDITIONING COMPRESSORS, FUEL CONVERSION, NON-ORIGINAL ENGINE, PAINT WORK 3 PANELS OR MORE ON CURRENT YEAR MODEL AND FOUR YEARS OLDER AND UNDER 100,000 MILES, GLASS OR HAIL DAMAGE, UPHOLSTERY OR VISIBLE BODY DAMAGE. FLOOD, FRAME, OR UNI-BODY DAMAGE IS SUBJECT TO RETURN WITHIN TEN DAYS. WE INSPECT EVERY UNIT AND SOMETIME THINGS ARE MISSED, YOU MUST REVIEW ALL PHOTOS CLOSELY AND CALL YOUR REP IF YOU HAVE ANY DOUGHTS ABOUT ANYTHING. PLEASE KEEP THIS IN MIND BEFORE BIDDING.

29. THE BUYER AGREES TO A LEGALLY BINDING CONTRACT TO BUY THE VEHICLE AND PAY HIS BID PRICE PLUS BUYERS FEE. THE BUYER WILL BE NOTIFIED BY EMAIL OF THE PURCHASE AND THE AUCTION WILL EMAIL OR FAX THE BILL OF SALE(S) TO BOTH BUYER AND SELLER. THE BUYER MUST PAY THE SELLER AT THE TIME OF PICK-UP AND WILL MAKE THE CHECK(S) PAYABLE TO THE SELLING DEALERSHIP TO BE HELD UNTIL TITLE IS MAILED TO BUYER.

30. THE SELLER AGREES TO A LEGALLY BINDING CONTRACT TO SELL THE VEHICLE WHEN HE ACCEPTS THE BUYERS BID PRICE MINUS SELLERS FEE. POLENS BUYBID WILL EMAIL OR FAX THE BILL OF SALE TO BOTH BUYER AND SELLER, THE BUYER MUST PAY THE SELLER FOR THE UNIT BEFORE PICK-UP UNLESS THE UNIT IS BEING FLOOR PLANNED, IN WHICH POLENS BUYBID WILL PAY THE SELLER UPON PROOF OF TITLE.

31. THE BUYER AGREES TO PAY FOR ALL WORK DONE TO A VEHICLE PRIOR TO RETURNING IT TO THE AUCTION EXCEPT ON VEHICLES ARBITRATED FOR UNANNOUNCED CONDITIONS NOT DETECTABLE THROUGH VEHICLE INSPECTION, "DOES NOT INCLUDE TITLE ATTACHED VEHICLES".

32. THE SELLER GUARANTEES THE TITLE OF VEHICLES THAT ARE SOLD THROUGH THE AUCTION. THIS GUARANTEE OF TITLE WARRANTS THAT TITLE SHALL BE MARKETABLE AND FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES, INCLUDING ANY BRAND NOTED UPON THE CURRENT OR ANY PRIOR CERTIFICATE OF TITLE UNLESS SUCH ENCUMBRANCES WERE ANNOUNCED AT THE TIME THE VEHICLE WAS SOLD THROUGH THE AUCTION. THE AUCTIONS LIABILITY UNDER THIS TITLE GUARANTEE SHALL NEVER EXCEED THE AUCTION SALE PRICE OF THE VEHICLE, AND THIS MAXIMUM AMOUNT SHALL BE REDUCED BY TWO PERCENT PER MONTH FOLLOWING THE AUCTION SALE DATE. THE AUCTION WILL NOT BE RESPONSIBLE FOR ANY EXPENSES INCURRED ON VEHICLES RETURNED FOR LATE TITLES.

33. IN THE CASE OF A TITLE WITH A CLERICAL OR CODING ERROR OR INCOMPLETE DOCUMENTATION PROBLEM, THE SELLING DEALERSHIP SHALL BE GIVEN REASONABLE TIME AFTER RECEIVING NOTICE TO HAVE THE ERROR CORRECTED.

34. WHENEVER ANY CLAIM IS MADE BY ANY PERSON AGAINST THE TITLE OF A VEHICLE THE BUYER SHALL IMMEDIATELY NOTIFY THE AUCTION AND SHALL COOPERATE FULLY IN DEFENDING ANY LEGAL ACTION. THE BUYER SHALL NOT SURRENDER POSSESSION OF THE VEHICLE, EXCEPT AS REQUIRED BY LEGAL PROCESS, AND SHALL NOTIFY THE AUCTION OF ANY CLAIM IN A TIMELY MANNER. FAILURE TO COOPERATE IN DEFENDING ANY SUCH CLAIM SHALL RELIEVE THE AUCTION OF ANY LIABILITY.

35. SELLER AND BUYER AGREE THAT THE AUCTION IS NOT RESPONSIBLE FOR ODOMETER READINGS ON CONSIGNED VEHICLES NOR THE INFORMATION CONTAINED IN THE ODOMETER STATEMENT. HOWEVER IF AN ERROR IS MADE BY THE AUCTION IT WILL BE THE AUCTIONS RESPONSIBILITY TO CORRECT THE ERROR IN A REASONABLE TIME FRAME.

36. SELLER AND BUYER AGREE TO INDEMNIFY AND HOLD HARMLESS THE AUCTION FROM ANY LIABILITY ARISING FROM A DEFECTIVE TITLE AND ANY MATTER RELATING TO THE ODOMETER STATEMENT.

37. THE AUCTION WILL REASSIGN THE TITLE DIRECTLY TO THE BUYER. ANY TITLE ASSIGNED DIRECTLY TO THE AUCTION WILL NOT BE ACCEPTED.

38. ALL NON-TITLED VEHICLES AND EQUIPMENT MUST BE ANNOUNCED AND WILL BE SOLD "AS-IS" AND THE AUCTION ACCEPTS NO RESPONSIBILITY WHATSOEVER FOR THIS TRANSACTION.

39. NO FOREIGN TITLES AND NO GRAY MARKET VEHICLES ARE ACCEPTED.

40. THE TERM "DRIVES GOOD" MEANS THE UNIT HANDLES GOOD AND HAS NOTHING TO DO WITH ANY MECHANICAL OR OTHER ANNOUNCED CONDITION.

41. ANYONE NOT HAVING A PROPERLY ASSIGNED TITLE OR REASSIGNMENT TO TRANSFER A TITLE OR LACKING LIEN RELEASE AT TIME OF SALE MUST SELL " TITLE ATTACHED AND MUST BE ANNOUNCED ".

42. THE BUYER IS CAUTIONED NOT TO SELL OR MAKE REPAIRS ON T/A VEHICLES UNTIL TITLE IS RECEIVED. ANY VEHICLE RETURNED FOR LATE TITLE/ OTHER ERRORS MUST BE IN NO WORST CONDITION AS WHEN SOLD.

43. ALL UNITS ARE SOLD WITH AN IF WILL BE ANSWERED AS SOON AS POSSIBLE BY THE SELLING DEALERSHIP AFTER THE AUCTION ENDS. IF THE SELLING DEALER DOES NOT REPLY A ZONE REPRESENTATIVE WILL CONTACT THE SELLING DEALER BY PHONE. IFS WORK BOTH WAYS, THE SELLER MAY REJECT THE BUYERS OFFER AND MAKE A COUNTER OFFER OR THE BUYER MAY AT HIS DISCRETION WITHDRAW HIS OFFER AT ANY TIME.

44. ALL PURCHASED UNITS MUST BE PAID FOR WITHIN FIVE (5) BUSINESS DAYS AND/OR PICKED-UP WITHIN TEN (10) BUSINESS DAYS OF SALE DATE OR THE UNIT BECOMES SOLD AS-IS.

45. IF A DEALER OR AGENT OF THE DEALER IS FOUND TO BE GOING AROUND THE AUCTION OR ATTEMPTING TO GO AROUND THE AUCTION, THAT DEALERSHIPS RIGHT TO PARTICIPATE IN POLENS BUYBID SHALL BE TERMINATED. SAID DEALERSHIP UNDERSTANDS AND ACCEPTS THE AUCTIONS DECISION.