NAAA section 1 Flashcards
Fair and Ethical Sale
The sales made at an auction are intended to promote fair and ethical treatment to both the buyer and the seller. If Auction determines that the transaction is not fair and ethical to either party, the seller and the buyer agree that Auction may cancel the sale, at its sole discretion. Federal, Sate, and Local laws supersede these policies where applicable.
Auction role in Sale: “A”
Auction makes no representations or guarantees on any vehicle sold or offered for sale.
Auction role in Sale: “B”
Auction is not a party to the contract of the sale. The sales contract is between the Seller and Buyer only.
Auction role in Sale: “C”
All vehicles bought or sold on the premises must be processed through the Auction office. Failure to do so will result in suspension of trading privileges at Auction.
Auction role in Sale: “D”
Auction reserves the right to review any audio/video documentation to verify the accuracy of a sale.
Auction role in Sale: “E”
Any vehicle consigned with the Auction is subject to government inspection, with or without prior notice, by the FBI, State Police, National Auto Theft Bureau, Local Police Authorities, any other governmental agency, or quasi-governmental agency.
Auction Vin Policies
All vehicles consigned must have a visible public Vehicle Identification Number (VIN) plate attached to the vehicle by the manufacturer or state inspector (state reassigned VIN only). Those vehicles having a reassigned VIN plate by the State in place of the original VIN plate must be announced or will be subject to sale cancellation or Buyer return. Auction reserves the right to refuse the sale of any vehicle in which the VIN plate appears to be altered in any way.
