Car Bank LLC Terms and Conditions
1. Introduction
Welcome to Car Bank LLC. By registering as a member and participating in our auction platform, you agree to comply with these Terms and Conditions. Car Bank LLC provides vehicle auction services connecting U.S.-based sellers with international buyers, particularly in the UAE.
2. Member Registration and Eligibility
● To participate, individuals must register as Car Bank LLC members and accept these Terms and Conditions.
● Membership approval is subject to Car Bank LLC’s discretion and may be restricted based on location, registration, and payment history.
3. Auction Process
● Listing and Inspection: Car Bank LLC listings provide detailed descriptions of each vehicle based on information received from sellers. All vehicles are sold “AS-IS, WHERE-IS, with no warranties implied or provided. We encourage members to inspect vehicles before bidding.
● Bidding: Members can place bids during scheduled online auction events. All bids are binding, and winning bidders are obligated to complete the purchase.
● Final Sale: The highest bid received by the auction’s end is deemed the highest bid.
4. Payment and Fees
● Payment: Winning bidders are responsible for wiring payments or making cash deposits to our Dubai office within two calendar days of the auction’s close. Payments should be in USD, with any currency conversion fees covered by the buyer.
● Administrative Fees:
$0 – $1,999.99 = $250
$2,000 – $4,999.99 = $350
$5,000 – $7,999.99 = $400
$8,000 – $9,999.99 = $550
$10,000 – $14,999.99 = $700
$15,000+ = 5%
● Late Payments: Failure to remit payment on time may result in penalties, cancellation of the sale, and potential suspension of membership.
- Car Bank LLC will return refundable deposits within 15 days to accounts in good standing.
- A late payment fee of $50 will be applied for payments submitted after 48 hours of approval of the winning bid and may result in cancellation of the unpaid unit.
- All vehicles are subject to a $15 internet fee.
- Official vehicle documents may take up to 35 business days to arrive at the port/freight forwarders office. Documents will only be mailed inside the US.
- Any suspended accounts will incur a $250 re-activation fee and will forfeit their initial $500 deposit.
5. Vehicle Delivery and Shipping
● Car Bank LLC facilitates shipment options upon request. Buyers are responsible for all shipping fees and related costs, including customs clearance and import taxes in their destination country.
● Car Bank LLC provides estimated delivery timelines, but we are not liable for delays caused by shipping companies, customs processes, or other external factors.
6. Member Responsibilities and Liability
● Members are responsible for understanding and complying with all applicable import/export regulations in their country.
● Car Bank LLC disclaims any liability for inaccuracies in vehicle descriptions, including, but not limited to, make, model, year, mileage, or condition.
● By participating in our auctions, members accept that all vehicles are sold without any guarantees. Members waive any right to pursue claims or damages based on vehicle condition post-sale.
7. Refunds and Cancellations
● Once a bid is submitted and accepted as the winning bid, the sale is considered final. Car Bank LLC does not offer refunds or cancellations except in cases of fraud or material misrepresentation by the seller, as determined by Car Bank LLC at its sole discretion.
8. Privacy and Data Use
● Car Bank LLC respects your privacy and will use your personal information solely to facilitate the auction process. We do not share personal information with third parties except as required to complete transactions or comply with legal requirements.
9. Limitation of Liability
● Car Bank LLC is not liable for indirect, incidental, or consequential damages resulting from your use of the auction platform, including, but not limited to, delays in delivery, vehicle defects, or inaccuracies in vehicle information.
10. Amendments to Terms and Conditions
● Car Bank LLC reserves the right to amend these Terms and Conditions at any time. Members will be notified of significant changes, and continued use of the platform implies acceptance of updated terms.
11. Contact Information
For questions or concerns, please contact Car Bank LLC at Car Bank LLC [email protected].
Dealers in certain countries are required to provide a one-time refundable $500 deposit.
Any suspended accounts will incur a $250 re-activation fee.
