Buyer Terms · RideAuction

RIDEAUCTION CANADA — BUYER TERMS These Buyer Terms summarize the obligations of a dealership that buys on RideAuction Canada. They form part of the RideAuction Canada Terms of Bidding and Sale, which govern if the two differ. Capitalized words have the meaning given in those Terms. Reserve prices are confidential seller information and are not disclosed to bidders; the public status indicates whether the reserve is met. ──────────────────────────────────────── 1. AUTHORITY ──────────────────────────────────────── 1.1 Your dealership buys only through staff members to whom RideAuction has given bidding authority for it. Every bid, Max Bid, Jump The Bid, Buy Now purchase, offer and accepted counter-offer placed by those staff members binds your dealership. 1.2 Your dealership must keep its staff list current, keep sign-in credentials confidential, and tell RideAuction promptly if it suspects unauthorized use. ──────────────────────────────────────── 2. BINDING BIDS AND PURCHASES ──────────────────────────────────────── 2.1 Bids and purchases follow the RideAuction Bidding Rules. An accepted bid cannot be withdrawn. A sale forms when your dealership wins a lot at auction, when RideAuction accepts your Buy Now purchase, or when an offer or counter-offer is accepted. 2.2 When a sale forms, your dealership must buy the unit at the purchase price, plus the fees and applicable taxes. ──────────────────────────────────────── 3. FEES ──────────────────────────────────────── 3.1 Your dealership pays the buyer fee shown in the applicable Auction rules. The Admin Rules & Fees page read on 2026-10-18 showed the current Standard Rules buyer fee at 10.5%, minimum CAD $250 and maximum CAD $8,500. The exact rule frozen for your Auction governs. The same Admin page showed no processing fee; title/registration requirements do not create a separate processing charge under that setting. 3.2 The proposed CAD $49 Reserve Fee is seller-side, not a buyer charge, and is currently inactive. A buyer does not pay or see the seller's reserve amount or private Reserve Fee commitment. The buyer's invoice contains only the buyer's charges and any tax determined under approved rules. ──────────────────────────────────────── 4. INVOICE AND PAYMENT ──────────────────────────────────────── 4.1 RideAuction issues an invoice for each purchase showing the purchase price, applicable buyer fees, any other fee present in the frozen Auction rules, any tax calculated under approved rules, and the due date. 4.2 Your dealership must pay the invoice in full by its due date. Payment methods are those shown on the invoice or specified by RideAuction. A payment is complete only when RideAuction records it as received. ──────────────────────────────────────── 5. TITLE AND RELEASE ──────────────────────────────────────── 5.1 The seller provides the unit's ownership documents to RideAuction, which reviews them before release. RideAuction's review is an administrative check, not a guarantee of title. 5.2 RideAuction authorizes the release of the unit only when your payment is complete (or RideAuction has authorized a documented exception), the ownership documents are approved or cleared, and the sale is not on hold. The seller releases the unit only to the pickup party you authorized, after checking RideAuction's release verification. ──────────────────────────────────────── 6. DELIVERY OR PICKUP ──────────────────────────────────────── 6.1 After the sale your dealership chooses one of two options: (a) RideAuction delivery: RideAuction arranges transport through its Live Tracker logistics network, and you can follow the delivery. You give the delivery address and a contact. (b) Your own pickup: your staff or a transporter you engage collects the unit from the seller. 6.2 RideAuction does not offer delivery by the seller. 6.3 You may change your choice until RideAuction has offered the transport to a carrier or a carrier has been assigned. 6.4 Your dealership must collect the unit, or make it available for RideAuction delivery, promptly after release is authorized. 6.5 Risk of loss and delivery damage are handled as set out in the Terms. ──────────────────────────────────────── 7. CONDITION AND DISPUTES ──────────────────────────────────────── 7.1 Units are sold as described in the lot record: the seller's disclosures, any inspection information the seller provided, and any RideAuction condition report. Review them before you bid or buy. 7.2 If a unit is materially different from its lot record, raise it under the RideAuction Dispute Policy. Online dispute filing is available only once RideAuction has published that policy; until then, contact RideAuction about the sale. ──────────────────────────────────────── 8. HOLDS AND DEFAULT ──────────────────────────────────────── 8.1 RideAuction may place your dealership's bidding on hold or set buying limits, for example for an unpaid purchase. A hold stops new bids and purchases; it does not cancel sales already formed. 8.2 If your dealership does not complete a purchase, RideAuction may act under the RideAuction Cancellation & Default Policy. END OF DRAFT. ──────────────────────────────────────── PROPOSED DECISIONS AND PUBLICATION HOLDS ──────────────────────────────────────── PROPOSED / DEMO DECISIONS — NOT APPROVED OR IN EFFECT Proposed payment term is 3 business days from invoice issue, no deposit, with payment instructions limited to the verified methods printed on the invoice. The current global payment-terms setting is unset, so an authorized invoice-specific due date governs until an approved prospective default is configured. Proposed collection window is a written notice plus 2 business days to cure before an authorized manual hold/cancellation review; no automatic penalty, interest, collection or storage fee is authorized. Proposed collection/pickup deadline is 5 business days after release authorization. This is not a currently configured timer and creates no storage charge. RideAuction's title review is administrative, not a title search or title guarantee. Seller supplies transfer records and Buyer should independently verify the Unit and documents. Proposed custody/risk remains with Seller until documented authorized release; carrier responsibility depends on actual carrier terms and handoff record. Counsel must approve the legal allocation. The live Rules & Fees page read on 2026-10-18 showed no processing fee; title/registration handling does not create one. The $49 Reserve Fee proposal is seller-side and not shown to a Buyer. The current buyer fee shown there was 10.5%, minimum CAD $250 and maximum CAD $8,500, subject to the Auction's frozen schedule. Mandatory buyer charges must be visible before commitment; tax is computed only under approved issuer/tax configuration. Offers remain governed by the actual offer workflow; buying holds/limits currently cover bids and Buy Now, not offers. Disputes use the proposed 14-day/5-day process only when matching settings are published and enabled; internal deadlines do not waive legal rights.