Seller / Dealer Terms · RideAuction

RIDEAUCTION CANADA — SELLER TERMS For Reserve Fee pricing only, once reviewed and published this amendment expressly governs over older fixed-rate or inactive-state descriptions in the Terms of Bidding and Sale and the Payment & Settlement Policy, as permitted by clause A2 of the Terms of Bidding and Sale. It does not change any unrelated auction, payment, tax or dispute provision. Publication alone does not activate the replacement rate; separate prospective policy approval and seller acknowledgement remain required. These Seller Terms summarize the obligations of a dealership that sells 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. ──────────────────────────────────────── 1. AUTHORITY AND OWNERSHIP ──────────────────────────────────────── 1.1 Your dealership submits and manages units only through staff members to whom RideAuction has given the Submit units authority for it. Their actions bind your dealership. 1.2 By submitting a unit, your dealership confirms that it owns the unit or is authorized to sell it, and that it can transfer it to a buyer free of undisclosed liens. ──────────────────────────────────────── 2. UNIT INFORMATION AND DISCLOSURES ──────────────────────────────────────── 2.1 Your dealership must describe each unit accurately: its identity and identifier, photos, location, and its seller disclosures — running condition, known damage, mechanical issues, modifications, missing parts, meter accuracy, ownership and title status, whether title or registration documents are required, and the number of keys. 2.2 Before submitting, a staff member certifies that the information is accurate to the best of the dealership's knowledge, that material issues are disclosed, and that any uploaded documents are authentic. 2.3 The information is reviewed by RideAuction and fixed in the lot record when the lot is approved. If your dealership learns of a material change before the sale, it must tell RideAuction promptly. ──────────────────────────────────────── 3. DEALER CONDITION REPORT AND INSPECTION DOCUMENTS ──────────────────────────────────────── 3.1 Your dealership may record an inspection it carried out, or one a third party carried out for it, and upload the inspection report and condition photos. Buyers see this information labelled "Provided by the dealer". It is your dealership's information; RideAuction does not verify it. 3.2 RideAuction may require a dealer or third-party inspection, or a RideAuction inspection, for lots, as shown in the submission steps. 3.3 A RideAuction condition report is different: it is RideAuction's own record of an inspection RideAuction carried out, within the scope stated in the report. It does not replace your dealership's disclosures or your responsibility for them. ──────────────────────────────────────── 4. HOW THE UNIT IS SOLD ──────────────────────────────────────── 4.1 For each unit your dealership chooses either: (a) an auction, with No Reserve or with a private reserve, and a starting bid of at least $100 that is not above the reserve; or (b) Buy Now at a fixed price. RideAuction may adjust the starting bid when it approves the lot. The choice is fixed when the lot is approved. 4.2 Once a lot has bids it can no longer be withdrawn. 4.3 If a unit does not sell, your dealership may relist it, open a post-auction offer window, or return it to inventory, as described in the Bidding Rules. ──────────────────────────────────────── 5. SELLER FEE AND SETTLEMENT ──────────────────────────────────────── 5.1 Your dealership pays the seller fee set out in the RideAuction Fees document only when a unit sells. The Admin Rules & Fees page read on 2026-10-18 showed the current Standard Rules seller fee at 2.5% of the sale price, capped at CAD $100; the schedule frozen for the Auction governs. Listing and relisting were shown as free. 5.2 RideAuction settles the sale amount to your dealership, less the seller fee, its applicable tax and any recorded adjustment, under the RideAuction Payment & Settlement Policy. Your settlement statement shows each line. 5.3 The current Reserve Fee policy is fixed CAD $49 for eligible Regular Public and 60-Minute Reserve auctions. A replacement policy of 6.50% of the private approved reserve may apply only after authorized Admin approval and its separately recorded future effective time. It is not a percentage of the winning bid or sale proceeds. At a CAD $10,000 approved reserve the replacement fee is CAD $650.00, rounded using the existing exact CAD calculation. Saving a pricing draft or publishing these terms does not activate the replacement policy. Until that separate activation takes effect, the current CAD $49 policy remains applicable to new eligible commitments. Every seller must see and explicitly acknowledge the applicable exact fee before committing. Earlier commitments retain their frozen method, rate, amount and approved reserve; a later percentage policy never reprices them. The Reserve Fee is earned only after an eligible Reserve auction actually opens, runs and validly concludes, whether the unit sells or the reserve is not met. No Reserve has a zero reserve-option fee. Rejected, never-launched and cancelled-before-opening auctions incur no Reserve Fee. A schedule or attempted launch alone is insufficient. These rules are identical for Regular Public and 60-Minute Reserve auctions. 5.4 Assessment records the acknowledged fee principal independently of invoice tax readiness. A sold Reserve auction uses a separate seller fee line in the existing seller invoice workflow. An unsold Reserve auction may have a fee-only draft; it is not a sale and creates no buyer or winning bid. All Reserve Fee invoice drafts remain nonpayable until verified issuer, approved tax treatment and existing issuance requirements permit an authorized invoice. No automatic payment is collected. These terms do not supply a tax classification, tax rate, registration, payment instruction or professional approval. An interruption, post-opening cancellation or dispute is held for authorized review under the published exception policy. ──────────────────────────────────────── 7. TITLE DOCUMENTS AND RELEASE ──────────────────────────────────────── 6.1 After a sale, your dealership must provide RideAuction with every ownership document needed to transfer the unit, such as a title, registration or ownership permit, a lien release, a bill of sale and any transfer form. 6.2 Your dealership must keep the unit available, in the condition described in the lot record, with its keys and disclosed items, until it is released. 6.3 Your dealership releases the unit only after RideAuction authorizes the release, and only to the authorized pickup party, after checking RideAuction's release verification. Your dealership records the release. 6.4 RideAuction does not offer delivery by the seller. Your dealership cooperates with the buyer's pickup party or with RideAuction's Live Tracker carrier at the unit's recorded location. ──────────────────────────────────────── 8. DISPUTES ──────────────────────────────────────── 7.1 If a buyer raises a dispute about a sale, your dealership responds within the time RideAuction's Dispute Policy sets, with its explanation and evidence. RideAuction reviews both sides and records a decision. END OF DRAFT. ──────────────────────────────────────── PROPOSED DECISIONS AND PUBLICATION HOLDS ──────────────────────────────────────── PROPOSED / DEMO DECISIONS — NOT APPROVED OR IN EFFECT Seller-provided unit facts, disclosures and documents must be accurate to the Seller's knowledge, complete as to known material issues, and updated promptly if they materially change before sale. Seller confirms authority to sell and must disclose known liens and supply transfer documents. RideAuction's report is limited to its stated observations; it is not a certification. Buyers remain responsible for independent review, subject to Seller statements, approved remedies and mandatory law. Proposed documentation deadline: provide requested ownership/transfer records within 3 business days. Proposed settlement target: within 5 business days after verified buyer funds, accepted title documents, closed holds and reconciled ledger; this is a planning target, not a currently configured payout promise. Settlement recording is manual; automatic seller payouts are not represented. If an invoice, title record, dispute or release control is unresolved, settlement may be held with a recorded reason. Reserve Fee pricing transition: The current Reserve Fee policy is fixed CAD $49 for eligible Regular Public and 60-Minute Reserve auctions. A replacement policy of 6.50% of the private approved reserve may apply only after authorized Admin approval and its separately recorded future effective time. It is not a percentage of the winning bid or sale proceeds. At a CAD $10,000 approved reserve the replacement fee is CAD $650.00, rounded using the existing exact CAD calculation. Saving a pricing draft or publishing these terms does not activate the replacement policy. Until that separate activation takes effect, the current CAD $49 policy remains applicable to new eligible commitments. Every seller must see and explicitly acknowledge the applicable exact fee before committing. Earlier commitments retain their frozen method, rate, amount and approved reserve; a later percentage policy never reprices them. The Reserve Fee is earned only after an eligible Reserve auction actually opens, runs and validly concludes, whether the unit sells or the reserve is not met. No Reserve has a zero reserve-option fee. Rejected, never-launched and cancelled-before-opening auctions incur no Reserve Fee. A schedule or attempted launch alone is insufficient. These rules are identical for Regular Public and 60-Minute Reserve auctions. Assessment records the acknowledged fee principal independently of invoice tax readiness. A sold Reserve auction uses a separate seller fee line in the existing seller invoice workflow. An unsold Reserve auction may have a fee-only draft; it is not a sale and creates no buyer or winning bid. All Reserve Fee invoice drafts remain nonpayable until verified issuer, approved tax treatment and existing issuance requirements permit an authorized invoice. No automatic payment is collected. These terms do not supply a tax classification, tax rate, registration, payment instruction or professional approval. No default, cancellation, storage, interest or collection charge is proposed. Proposed cancellation and reversal follow the existing audited void/credit/refund ledger workflow; no record is deleted and no automatic payment occurs. Counsel must confirm title/risk, settlement and liability wording.