Checks--company or certified, only with prior approval by Credit/Collection manager.
Drafts--subject to the following conditions:
Approval by management.
Draft must be paid promptly as stipulated by draft.
Buyer must pay any draft charges of paying bank.
Purchase drafts or checks returned will be subject to service charges of, 1st time a $100.00 service charges, 2nd time a $200.00 service charge and 3rd time a $300.00 service charge. Check and draft privileges will be revoked
Cash or check payments are due on sale day or will be assessed a $30 per day late fee. Access to the Auction may be denied to all representatives pending payment of outstanding vehicles.
Change of payment, as indicated on invoice, made after the close of sale is subject to a $15 charge.
Payment for vehicle can only be accepted from the dealer or a representative/driver with a valid Auction card.
Flooring -- The Auction accepts flooring from AFC, AFS and MAFS. Units may be floored only with the prior approval of the Auctions Credit/Collection manager and the flooring agency.
Any vehicle not paid for in accordance with the Auction policy will be consigned at the discretion of the credit department and resold. Should a deficit exist the dealer will be liable
Any returned draft or check will subject buyer to suspension or termination of credit privileges. Buyers will also be expected to pay all expense connected with collection of unpaid items.
