TERMS OF SERVICE

These Terms of Service (“Terms”) govern your use of the MyDealerBid dealer-only wholesale vehicle auction platform operated by MyDealerBid Auctions, Inc. (“MyDealerBid”). By creating an account, placing a bid, or listing a vehicle, you agree to be bound by these Terms.

“Dealer” means a licensed motor vehicle dealer or dealership account holder approved by MyDealerBid. “Vehicle” means any motor vehicle listed on the platform. “Hammer” means the moment a winning bid is confirmed.

MyDealerBid is restricted to licensed motor vehicle dealers in the United States. To register you must provide: a valid state-issued dealer license, garage liability insurance with minimum $1,000,000 general liability, a sales tax / resale certificate, EIN documentation, and a principal officer's identification.

Verification is performed using existing wholesale auction credentials and industry verification where available, or MyDealerBid's manual review desk. MyDealerBid may suspend or terminate access at any time if verification cannot be maintained or if documents lapse, expire, or are revoked.

The dealership is the account holder. The dealer principal may designate authorized users (buyers, sellers, title clerks) with role-based permissions. The dealership remains responsible for every action taken under its account, including bids placed by employees, contractors, or third parties using its credentials.

MyDealerBid operates two lanes. Green Light: vehicles passing a 142-point inspection with clean frame status, sold with a 24-hour arbitration window opened when the buyer confirms title received. Red Light: vehicles sold AS-IS with all announced defects binding on the buyer, including salvage and branded titles. No arbitration applies to Red Light sales except for outright title fraud (see Section 9).

Lane selection is the seller's responsibility but is subject to MyDealerBid review. A vehicle may be moved to the Red Light lane if undisclosed defects are discovered prior to or after listing.

Sellers must complete a full condition report including frame status, mechanical condition, mileage, and a minimum of twenty (20) photographs and one cold-start video. The CR Score generated by MyDealerBid is binding on the seller as a representation of vehicle condition.

Sellers must disclose all known defects, prior accidents, branded titles, mileage discrepancies, and aftermarket modifications. Omissions may result in arbitration in the buyer's favor and financial penalty against the seller.

All bids are binding. Placing a bid constitutes a firm offer to purchase at that price. Bids may not be retracted except within 60 seconds of placement and only via the in-platform Request Retraction mechanism, subject to MyDealerBid's discretion.

Proxy bids are auto-executed in the seller's set increment up to the bidder's declared maximum. The maximum is never disclosed. Buy Now ends the auction immediately and is at the seller's discretion.

Winning buyers must fund their purchase within two (2) business hours of hammer via ACH (free) or wire transfer ($25). Credit cards are not accepted under any circumstances. Buyer payment is held by MyDealerBid's payment processor until the buyer confirms title receipt in the app. Twenty-four (24) hours after that confirmation, the seller payout (sale price minus seller fee) is released.

MyDealerBid does not act as an escrow service for dealer-facing purposes. Held funds may be administratively frozen at MyDealerBid's sole discretion in the event of (a) an open arbitration claim, (b) a title not shipped within 48 hours of pickup confirmation, (c) a buyer/seller dispute, (d) a suspicious transaction, or (e) a high-value transaction exceeding $100,000.

Failure to fund within the window constitutes a non-payment strike. A $500 non-payment fee is assessed and the vehicle is offered to the next bidder or relisted at the seller's option. Three strikes in a rolling 12-month period results in suspension review.

MyDealerBid never receives, holds, signs, processes, or touches any title at any time. MyDealerBid is a marketplace only and is never a party to the title transfer. The seller is one hundred percent (100%) solely responsible for completing all title paperwork and shipping the title directly to the buying dealer.

When the buyer confirms vehicle pickup inside the MyDealerBid app, a forty-eight (48) hour title-shipping clock begins. Within that window the seller must (a) complete the title-reassignment section on the back of the physical title with the buying dealer's information and odometer disclosure; (b) ship the physical title via FedEx Overnight or UPS Next Day Air ONLY — no USPS, no ground, no exceptions; (c) upload the carrier tracking number to MyDealerBid.

If the title is not in the seller's name, the seller must include a notarized Power of Attorney with the shipment. If the vehicle was previously reassigned, the seller must include the prior reassignment document. The seller is solely responsible for obtaining and shipping any required lien-release letter. MyDealerBid provides an official transaction invoice for every sale for DMV purposes; the invoice is not a substitute for the physical title.

MyDealerBid monitors carrier tracking in real time. Payment is held until the buyer physically receives the title and confirms receipt in the MyDealerBid app. Late-title penalties: 1st offense — friendly warning, no fee; 2nd offense — $50 to $100 fee plus trust-score reduction; 3rd offense — larger fee plus listing restrictions.

Green Light buyers may file arbitration within twenty-four (24) hours of confirming title received in the MyDealerBid app. Grounds: undisclosed mechanical failure preventing safe operation, mileage discrepancy, or branded-title misrepresentation. Cosmetic issues, normal wear, and items announced at listing are not arbitrable.

Filing fee is $150, refunded if upheld. Disputed funds remain held during the dispute. Red Light sales are AS-IS and are not subject to arbitration except for outright title fraud, which is governed by Section 8.

You agree not to solicit, contact, or transact off-platform with any counterparty introduced to you via MyDealerBid for a period of eighteen (18) months following the introduction. This includes attempts to complete a transaction outside the platform, evade MyDealerBid fees, or arrange private sales of vehicles surfaced through the platform.

Violations are subject to liquidated damages equal to 10% of the off-platform transaction value, immediate suspension, and reporting to applicable state regulators and industry verification partners.

MyDealerBid does not charge subscriptions, monthly fees, or recurring charges of any kind. Buyer fees are flat amounts scaled to the hammer price, ranging from $50 (hammers under $1,000) up to $2,000 (hammers of $500,000 and above) — see the public Fee Structure on the Payments page. Sellers pay no fee to list a vehicle and no fee to relist. A $75 seller fee is assessed when a vehicle sells on its first listing; a $110 seller fee ($75 base + $35 relist surcharge) is assessed when a vehicle sells on a relist. Founding dealers (first 30 approved) pay a $0 seller fee on their first five vehicles.

Payment methods are limited to ACH (free) and wire transfer ($25 flat, inbound or outbound). Credit cards are not accepted under any circumstances. Other fees: arbitration filing $150 (refunded if upheld); late title $50 per business day capped at $250; non-payment $500 + suspension review. There are no per-bid fees and no hidden transport, block, or gate surcharges.

MyDealerBid may adjust fees with thirty (30) days' notice. Existing listings retain the fee schedule in effect at listing time.

Each dealership carries a public 0-to-5 trust score based on title-on-time rate, arbitration outcomes, condition-report accuracy, and counterparty reviews. Dealerships below 3.0 are placed in supervised status with manual review on every listing. Below 2.0 results in suspension pending compliance review. Scores are recalculated weekly.

Prohibited conduct includes but is not limited to: shill bidding, collusion, sharing accounts with non-licensed parties, listing vehicles you do not have title-ready authority to sell, listing stolen or insurance-flagged vehicles, falsifying condition reports, falsifying mileage, and any activity that violates federal or state motor vehicle, consumer protection, or odometer-disclosure law.

The MyDealerBid platform, branding, condition-report system, lane taxonomy, and all software are the exclusive property of MyDealerBid Auctions, Inc. You may not copy, reverse-engineer, scrape, or republish platform content. By uploading photos, videos, or condition data, you grant MyDealerBid a non-exclusive license to display them on the platform and in transaction records.

MyDealerBid is a marketplace, not a party to the sale. Sellers are solely responsible for the accuracy of listings; buyers are solely responsible for inspecting condition reports prior to bidding. To the fullest extent permitted by law, MyDealerBid disclaims warranties of merchantability and fitness for a particular purpose with respect to listed vehicles.

MyDealerBid's aggregate liability for any claim arising out of or related to these Terms shall not exceed the total fees you paid to MyDealerBid in the twelve (12) months immediately preceding the event giving rise to the claim.

These Terms are governed by the laws of the State of Delaware without regard to its conflict-of-laws principles. Disputes between MyDealerBid and a Dealer that cannot be resolved through the platform arbitration desk are subject to binding arbitration administered by the American Arbitration Association under its Commercial Rules, seated in Wilmington, Delaware.

MyDealerBid may update these Terms at any time. Material changes will be announced via in-platform notice and email at least thirty (30) days before taking effect. Continued use of the platform after the effective date constitutes acceptance of the revised Terms.