Updated Terms and Conditions
Last modified: 03/06/2020
2. DealerAccount. Once you have registered your account on the Site, you will beissued a unique username and password which you will use to access the Site.RMS Automotive participates in the AuctionACCESS® registration system, and theAuctionACCESS number and other registration information assigned to yourDealership during the AuctionACCESS registration process will be linked to theDealership’s account and used for purchases made by the Dealership and itsusers on the Site. You are responsible for protecting your username andpassword and your Dealership is fully responsible for all purchases and otheractivities that are made or initiated using your account or your username andpassword (including, without limitation, any purchases or other activities madeor initiated by any person that is designated as an "AuthorizedRepresentative" or "Authorized User" of the Dealership in theAuctionACCESS system). The Dealership unconditionally guarantees all purchasesand other transactions may or initiated using any Dealership account on theSite.
3. Accuracyof Information. You certify that all registration and representativeinformation you have provided to us, via AuctionACCESS and otherwise, is true,correct, and complete. You agree to promptly update your informationvia AuctionACCESS if there is any change to the information you have provided.
4. ProxyBidding. The Site may allow you to place automatic proxy bids, which allowsyou to specify in advance your "Max Bid" for a particular Vehicle. Ifyou place a proxy bid on the Site, the system will automatically bid on theapplicable Vehicle for you in the bidding increments indicated on the listing,up to your specified "Max Bid". You may also have the ability toplace a "Match Reserve" proxy bid for a particular Vehicle where thesystem will automatically increase your final bid to match the designatedreserve price for the Vehicle if you are the highest bidder, the reserve pricehas not been met and your Max Bid is higher than the reserve price. Proxy bidsare confidential and will not be known to other bidders or to BMW FS. Sometimesthere may be multiple bids for a Vehicle in the same amount. In these cases,priority is given to the highest bid that is placed first, either by regularbid or by proxy bid.
5. VehicleCondition and History Reports. Vehicles listed on the Site may have beenassigned an AutoGrade Condition Score based on the overall condition of the Vehicleand may also include an AutoCheck and/or Carfax vehicle history report("VHR"). AutoGrade Condition Scores, and VHRs are issued and providedby third parties. BMW FS and RMS automotive make no representation, warranty orguaranty of any kind or nature regarding the accuracy or completeness of any AutoGradecondition score or VHR. Once you have purchased a vehicle, it is yourresponsibility to inspect the vehicle and ensure that any missing equipment,undisclosed damage or other issues are acknowledged in writing immediately,before you take possession of the vehicle. BMW FS may not announce everyvehicle as having been part of a National Highway Traffic and SafetyAdministration but makes every effort to repair such vehicles prior to listingthem for sale on the Site. All buyers have a responsibility to confirm any DMVfees currently due prior to bidding as BMW FS will not cover outstanding feesowed.
6. VehicleArbitration. Any issues or disputes involving a Vehicle purchased on theSite will be resolved exclusively through the arbitration process establishedand administered by BMW FS (with the assistance and support of RMS Automotive).The NAAA Arbitration Policy is used by BMW FS as a general guideline forvehicle arbitrations, but BMW FS reserves the right to establish its ownarbitration process and policies and to make all arbitration decisions, whichshall be final. No vehicle exceeding 100 miles from thetime of purchase can be arbitrated.
8. ElectronicPayment Authorization. If you have elected to pay for Vehiclesyou purchase on the Site by automated electronic transfer from yourDealership’s bank account, RMS Automotive (or its designated paymentfacilitator) will attempt to debit the amounts owed for each Vehicle from thedesignated bank account in accordance with such authorization and these Termsof Use. Additionally, you agree that, if you designate a bank account forpayment of amounts you owe us, including, but not limited to, by adding a bankaccount to your online profile, we may use such account information to initiateelectronic debit entries to your bank account, including debit entries foramounts you owe us from time to time as such amounts become due, credit entriesfor amounts we owe you, and debit or credit entries in any amount necessary tocorrect an error. You understand that, other than account information weroutinely make available to you online, we will not provide any notice to youprior to initiating entries and that you are responsible for ensuring that youraccount balance is sufficient to cover debits for amounts you owe us. You agreethat any authorizations we initiate to your bank account must comply withapplicable law and applicable payments association rules, including the NACHAOperating Rules. This authorization is in addition to, and does not terminateor alter, any other authorization for electronic payments that we have on fileor that you provide us in the future.
9. Transferof Title. Title to a Vehicle will only pass to the buyer onceRMS Automotive (or its designated payment facilitator) has received payment infull, in good funds, and otherwise in accordance with these Terms ofUse. We retain a security interest in each such Vehicle in theinterim to secure payment.
12. VehicleTransportation; Risk of Loss. You are responsible for thetransportation of any Vehicle purchased on the Site. Vehicles must be picked upby the Dealership or its designated transport agent or other representative byno later than the fifth (5th) day following the date of sale (the "VehiclePick Up Deadline"). If a Vehicle is not picked up by such date, RMSAutomotive reserves the right to (a) cancel the transaction; (b) arrange forthe transport and delivery of the Vehicle using a carrier of RMS Automotive’schoosing (at the Dealership’s expense); (c) suspend your account or buyingprivileges on the Site; and/or (d) assess the Dealership a daily storage feefor the Vehicle, not to exceed $25.00 per day. Responsibility and risk of lossfor a Vehicle will pass to the buyer at the earlier of (i) such time as thebuyer or its transport agent or other representative takes possession orcontrol of the Vehicle, or (ii) the Vehicle Pick Up Deadline. The buyer and itstransport agent are responsible and liable for any damages and otherliabilities that may arise during or in connection with the transport ordelivery of a Vehicle (“Transportation Claim”), regardless of whether RMSAutomotive may have provided assistance or support in arranging for the transportor delivery of the Vehicle. You acknowledge and agree that your onlyrecourse or remedy for Transportation Claims, if any, shall be to and againstthe third-party carrier, its insurer, your own insurer, or the third-party thatcaused the alleged damage, and not to, against, or involving us. Youmust present your gate release documentation when picking up your Vehicle.
13. Off-Site Vehicles. Forany vehicle(s) physically located away from an auction facility when auctionedonline, the buyer must present to the off-site location, or other storagefacility, the proper gate release documentation issued by BMW FS and/or RMSAutomotive (e.g., the bill of sale). It is the responsibility of theoff-site location or storage facility, acting as agent for BMW FS, to verifythe authenticity of the buyer’s gate release documentation before releasing theVehicle(s) by comparing it to the gate release documentation provided directlyto the off-site dealership by BMW FS and/or RMS Automotive.
14. Buyer/DealershipAcknowledgments. You acknowledge and agree that RMS Automotive is merelyperforming a service on behalf of BMW FS, and that RMS Automotive makes norepresentation, warranty or guaranty or any kind or nature with respect to anyVehicle (including any odometer reading or any related odometer statement orcertification) or any transaction that takes place on or through the Site, orregarding the availability or functionality of the Site (and all suchrepresentations, warranties and guaranties are expressly disclaimed by RMSAutomotive). You further acknowledge and agree that BMW FS and RMS Automotiveretain the right to cease doing business with you (or any of your agents orrepresentatives) or with any other dealer at any time and for any reason, andmay discontinue the Site or your ability to purchase Vehicles or continuingusing the Site at any time and for any reason. By purchasing a Vehicle on theSite, you are certifying to BMW FS and RMS Automotive that the Vehicle is beingpurchased for resale in the ordinary course of your business, and that you holdall necessary federal, state and provincial, as applicable, sales tax exemptioncertificates and similar documents required by the governing laws of yourjurisdiction.