TradeBid Arbitration Policy

TradeBid’s has an Arbitration Policy in place to protect both our buyers and sellers on the platform. For any arbitration cases that arise, TradeBid work closely with the buyer and the seller to ensure fairness for both parties. Ultimately all vehicles sold on the platform should be described correctly and it is also the buyer’s obligation to ensure that they do their research on the vehicle before placing a bid. Each vehicle on TradeBid has a History Check (Full Irish & UK including Finance provided by VMS – sample here), a PAVE Inspection Report (outlining any cosmetic damage to the vehicle – sample here) along with disclosures from the seller outlining any mechanical issues or significant other issues that should be disclosed.

The below policy outlines in detail the cover and timelines that TradeBid adhere to when dealing with any arbitration cases. There are Terms & Conditions along with obligations for the seller as well as the buyer to ensure all parties are covered. If you have any questions on the below do not hesitate in getting in touch with our Customer Success Team on 01-5461085 or by email at support@trade-bid.ie.

TradeBid has a zero tolerance policy for sellers who do not accurately describe vehicles and a zero tolerance policy for buyers who arbitrate vehicles when the vehicle has been correctly disclosed by the seller. This policy ensures that sellers can sell securely on TradeBid and buyers can buy with confidence and assurance that any issues are addressed.
 

TradeBid Arbitration Policy - Summary

  1. Seller’s are responsible for accurately describing the vehicles, in accordance with TradeBid’s detailed seller obligations
  2. Buyer’s are responsible for reviewing the listing in detail before bidding
  3. If a vehicle is not described correctly by the seller it is arbitrable via TradeBid in accordance with the arbitration policy
  4. Arbitration requests must be submitted within 48 hours of the vehicle being delivered, via the Arbitration section within the dashboard on TradeBid
  5. All arbitration cases will be responded to within 24 hours
  6. Arbitration rate to date has been less than 3% and 95% of arbitration cases have been resolved in less than 3 days
  7. Buyers and Sellers can contact the TradeBid Customer Success Team at anytime on 01-5461085 or by email at support@trade-bid.ie with any questions regarding the auction or arbitration.

 

Seller Obligations

  1. Seller Responsibilities. A Seller will build confidence in its product and credibility with Buyers by disclosing all material facts about the history and condition of Vehicles offered for sale. It is Seller’s obligation to fairly represent its Vehicle and to correct any errors made regarding disclosed conditions. Seller is responsible for the accuracy and completeness of all disclosures regardless of whether Seller has relied on third party resources (e.g. inspection product, vehicle listing service, electronic data vehicle history report, vehicle registration decoder, etc.).
  1. Online Photographs and Video. Photographs and video must accurately and fairly represent the condition of the Vehicle. Photographs/video of damage or other conditions that could materially affect the value of a Vehicle should be provided.
     

Disclosures. A Seller who lists a Vehicle for sale on the TradeBid System is required to disclose the information listed in the table below (each a “Disclosure”) in the description section of the TradeBid Seller App when uploading a vehicle, if applicable. The list is not intended to be exhaustive. As vehicles and our industry change, the disclosure obligations required of Sellers may similarly change. Accordingly, TradeBid reserves the right to consider other information not specifically listed below.

 

Disclosure

Interpretation

Arbitration Period

ABS Defective

The Seller must disclose if the anti-lock braking system is not operational (if equipped). Arbitration is only available for repairs over the applicable Arbitration Euro Threshold (see Major Repair).

Regular

Accident Repair €________

The Seller must declare a Vehicle to be Accident Repaired if the total cost to fix damage caused by a single incident was €3,000.

The Accident Repair declaration must be made regardless of whether the damage was caused by collision, accident, weather or by some other incident.

If the euro value of the Accident Repair is known, it must be disclosed. If the euro value of the Accident Repair is not known but estimate data is available, the estimate data should be disclosed.

Although not required, if the Seller chooses to disclose an accident repair under €3,000, it may do so separately as an additional disclosure.

Arbitration is not allowed for Accident Repairs under €3,000.

Regular

Adjacent Panels Replaced

The Seller must declare if two or more adjacent panels (excluding bumper panels) have been replaced on a Vehicle.

Please note: If the panels were replaced due to an accident or other incident, depending on the cost of the repairs, it may also be necessary for the Seller to make the Accident Repair Disclosure.

Regular

Air Bags Missing/Defective

The Seller must disclose if the Vehicle’s airbags are missing or not operational. If the airbag warning light is “on”, it must be disclosed. Arbitration is only available for repairs that exceed the Arbitration Euro Threshold (see Major Repair).

Regular

Alternative Fuel or Conversion

The Seller must disclose if the Vehicle uses propane or natural gas, or at any time had a propane or natural gas fuel system.

Regular

Excessive Rust

The Seller must disclose if the Vehicle suffers from excessive rust. Rust is considered to be excessive when the location or quantity of the rust affects the structural integrity of the Vehicle, e.g. the frame or any structural component is perforated by rust.

 

Fire Damage

The Seller must disclose if the Vehicle has been damaged by fire.

Extended

Flood Damage

The Seller must declare a Vehicle as Flood Damaged when:

i) water or other liquid has penetrated the Vehicle to the level of the floor boards or higher; or

ii) if any of the following components have been damaged due to immersion:

  • Front or rear lighting or wiring harnesses
  • Engine and its major components
  • Transmission and differential
  • Dash instrument panel and wiring
  • Passenger seat cushions
  • Power seat or window motor
  • Major sound system components

Extended

Incorrect Vehicle Marking

The Seller must disclose if any logo, badge, decal, emblem, ornament or similar markings on the Vehicle do not match the make, model or series of the Vehicle.

Regular

Material Variation from Production Specs

The Seller must disclose if the Vehicle varies materially from the original manufacturer’s specifications.

Regular

Odometer Broken/Faulty

The Seller must disclose if the odometer of the Vehicle is broken or faulty, i.e. not accurately tracking distance driven.

Regular

Odometer in Miles

The Seller must disclose if the odometer is in miles.

Regular

Odometer Replaced

The Seller must disclose if the odometer has been replaced.

Extended

Odometer Roll Back

The Seller must disclose if the odometer has been rolled back.

Extended

Odometer Unreadable

The Seller must declare the odometer to be unreadable if it is accurately tracking distance driven but cannot be read due to pixel damage, because the Vehicle cannot be started to obtain an odometer reading, or similar reasons.

Regular

Paint Work

The Seller must disclose paintwork on a current model year Vehicle or newer (excluding bumpers).

Regular

PAVE Inspection Software

Any notable cosmetic damage on the vehicle should also be noted in the description when uploading the vehicle for verification purposes (example marks, dents, paintwork).

Regular

Previous Daily Rental

The Seller must disclose if the Vehicle was previously used as a daily rental vehicle at any time in the previous 24 months.

Regular

Previous Taxi / Limousine

The Seller must disclose if the Vehicle was previously used as a taxi or limousine.

Regular

Stolen and Recovered

The Seller must disclose if the Vehicle was recovered after being reported stolen.

Extended

Structural Alteration

The Seller must disclose if there has been an alteration to the Vehicle’s structure such as lengthened or shortened frame, modified suspension or hitch.

Regular

Written Off

The Seller must disclose if an insurer determined the Vehicle was a write-off.

Extended

 

 

Buyer Arbitration Policy

  1. Arbitration Policies. TradeBid offers an arbitration service to resolve disputes between Buyers and Sellers. Our arbitration service is governed by the terms and conditions (collectively, the “TradeBid Arbitration Policy”). The arbitration process is designed to be fair, impartial, quick, and economical.
  2. Acknowledgement. By accessing the TradeBid System or otherwise using TradeBid’s services, you acknowledge and agree that any dispute arising due to the purchase or sale of a Vehicle will be resolved in accordance with the TradeBid Arbitration Policy. You hereby appoint TradeBid to serve as Arbitrator and empower it to render a final, binding decision in settlement of all Claims submitted for arbitration.
  3. Definitions. In addition to the terms defined elsewhere in these Terms and Conditions, the following definitions apply:

Arbitrator means the TradeBid personnel responsible for adjudicating disputes and managing the dispute resolution process contemplated in this Policy.

As Ismeans the Vehicle is being sold with limited arbitration rights.

Claimmeans a claim submitted by the Buyer of a Vehicle for arbitration.

Major Deceptionmeans an act, representation or omission that materially affects the value of the vehicle and, having regard to all of the circumstances, would reasonably be regarded as misleading, unprofessional, or unethical.

PolicyorPoliciesmean the TradeBid Arbitration Policy.

  1. Buyer Obligations. Before bidding on a vehicle, buyer is required to know the arbitration rules in place for the vehicle. In addition, Buyer should carefully review all disclosed information including descriptions, photos, videos, condition reports and vehicle history reports. To preserve arbitration rights, Buyers are strongly encouraged to be diligent in their inspection and research of vehicle purchases within the relevant arbitration period.
  2. “As Is” Vehicles. Arbitration rights are limited for “As Is” Vehicles. Vehicles that have been driven 300,000 kilometres or more will automatically be listed As-Is by the TradeBid System. Arbitration for mechanical issues will be rarely permitted for “As Is” vehicles and for vehicles that sell for less than €2,000 and, in each case, will generally be limited to undisclosed major engine/transmission issues making the vehicle undriveable.
  3. Making an Arbitration Claim
  1. Start Arbitration Claim. Before starting a Claim, Buyer must pay all amounts owing for the vehicle including any transportation costs. Buyer starts arbitration claim by submitting appropriate information and documentation online to TradeBid’s arbitration page through TradeBid’s arbitration portal before the expiry of the arbitration period which is 2 business days from the delivery of the vehicle. Buyer submits the following information: Buyer’s name and telephone number; contact person and telephone number; Vehicle Registration, model and year; delivery time; and a description of the issue(s) to be arbitrated and attaches any supporting documentation.
     
  2. Submit Supporting Documentation. No later than 2 business days after starting the claim, buyer is required to submit supporting documentation including but not limited to: (i) the original online description of the Vehicle (condition report, Vehicle detail page, etc.) (ii) digital photographs of the defect(s) underlying the Claim, (iii) diagnostic reporting and wholesale (not retail) repair estimates from an independent and reputable source or evidence of an appointment scheduled in order to obtain such repair estimates; and (iv) bill of lading, transport release form, or other form of delivery receipt from transportation company, if applicable. Seller has two (2) business days to respond to arbitrator’s inquiries and preliminary findings. If seller fails to respond within the time limit, the arbitrator may decide the arbitration claim without further input from seller. If the arbitration results in cancellation of the sale or other remedy in favour of buyer, the Seller is required to reimburse Buyer its transportation costs and up to €100 of costs incurred (verified by invoice and before taxes) of obtaining repair estimates. Seller is required to pay any award amount that is determined by the arbitrator to be payable within three (3) business days. If payment is not received within the time limit, TradeBid reserves the right to assess a late payment charge and/or deduct the award amount from any amounts payable by TradeBid to Seller. Invoices for settled arbitration claims must be submitted within five (5) working days.
  1. Buyer’s Obligations. Buyer will not use any vehicle that is subject to an arbitration Claim. Buyer may lose the right to make or continue a claim if buyer drives the vehicle other than for test driving purposes (not to exceed 100 kms). Pending a final decision on the claim, buyer must, at its own expense, take reasonable steps to care for, preserve, secure and store the vehicle until the vehicle is properly returned. Buyer is not entitled to charge any parking, marshalling or other fees in connection with its preservation of the Vehicle. Buyer will be charged the cost of damage repair and/or assessed a penalty fee for any breach of this provision.
     
  2. Arbitration Periods. Depending on the nature of the claim, the Arbitration period will either be Regular or Extended. The Regular arbitration period is two (2) business days after the Vehicle is delivered to the Buyer. The Extended arbitration period is seven (7) calendar days from the date the vehicle is delivered to the buyer. Regular and Extended arbitration periods are noted in the table below.
  3. Vehicle History Report Disclosures. Each Vehicle is accompanied by a Vehicle History Report powered by VMS. Arbitration is not available for disclosures in a Vehicle History Report. Please ensure that you review the Vehicle History Report carefully before bidding.
     
  4. Lengthening the Arbitration Period. TradeBid reserves the right to lengthen the arbitration period when, in the opinion of TradeBid it would be fair and reasonable to do so. Although the Seller is required to make all applicable Disclosures, the Buyer is also required to be diligent in its inspection and research of its Vehicle purchases. Thus, if, by exercising reasonable diligence, the Buyer could have discovered a potential arbitration issue within the applicable time period, it is unlikely that an exception to the arbitration time limits will be made.
  5. Investigation. The Arbitrator will review only issues identified in the initial Claim. The Arbitrator may, but is not required to, consult with the Buyer, Seller or both parties to gain a better understanding of the issue(s) under arbitration. Depending on the issue, the Arbitrator may also seek the advice of mechanics, trained vehicle inspectors or other automotive professionals. When appropriate, the Arbitrator may refer the Vehicle to an external resource such as a specialty shop for consultation.
  6. Decision. After completing the investigation, the Arbitrator will decide whether the arbitration Claim is valid. Before deciding what the remedy should be, the Arbitrator may attempt to mediate a resolution between the Buyer and the Seller. If agreement cannot be reached, the Arbitrator will decide the appropriate remedy, if any.
     
  7. Remedies. The Arbitrator has a broad discretion to grant any remedy or relief that he/she considers to be fair and reasonable in the circumstances. The purpose of the arbitration remedy is to ensure that the Buyer is fairly compensated for its loss. In some circumstances, such as where a Disclosure does not affect the value of the particular Vehicle, there may be no loss and thus no remedy. Remedies could involve: cancellation of the sale and refund of the purchase price, reimbursement of costs and/or expenses incurred including transportation costs, partial refund of the purchase price, repair of defect at Seller’s expense, repair of defect with the costs apportioned between the Buyer and the Seller, no financial or other compensation, or similar remedies.
     
  8. Arbitration Fees and Costs. TradeBid reserves the right to assess an arbitration Fee against the Buyer and/or Seller. If TradeBid incurs costs as part of its investigation (e.g. referral to an external resource, towing, transportation, etc.) the Arbitrator, as part of the remedy imposed, will determine liability to pay the costs incurred. Arbitrations that result in the cancellation of a Vehicle sale may be subject to a void Fee at TradeBid’s discretion.
     
  9. Finality. The decision of the Arbitrator and the remedy imposed is final and binding on the Buyer and Seller. By accessing the TradeBid System, the Buyer and Seller agree to participate in TradeBid’s arbitration process and to observe, perform and be bound by the decision of the Arbitrator. Upon fulfilling the Arbitrator’s decision, the Buyer and Seller are deemed to release each other from all claims and demands in respect of the matters referred to arbitration
  10. Limitations on the Availability of Arbitration. Although there may be limitations on the availability of arbitration, Sellers are cautioned that TradeBid does not tolerate deceptive selling practices. Accordingly, TradeBid reserves the right to allow for arbitration notwithstanding the entries in the table below if TradeBid determines that the Seller has engaged in Major Deception.

Arbitration is not available for the following:

Exceptions:

Matters that were properly disclosed as Seller Disclosures.

None

Matters disclosed in a Vehicle History Report, Vehicle appraisal, Vehicle detail page, condition report or similar source made available to the Buyer via the Tradebid System before the Vehicle sale is finalized.

None

AS-IS Vehicles

Odometer (Roll Back, Replaced, Total Miles Unknown)

Existing Structural Damage.

Major engine/transmission issues

Matters raised outside of the applicable arbitration period.

At TradeBid’s Discretion

General Reconditioning Items and Normal Wear and Tear.

None

 

  1. Customers. Arbitration is a service available to TradeBid buyers and sellers only and not to their customers. The service is not available if the buyer no longer has possession or ownership of the Vehicle.
  2. Legal Proceedings
  1. No action or legal proceedings will be commenced or prosecuted by the buyer or the seller against the other concerning:
    1. Any matter that is or was the subject of arbitration unless to enforce the terms or conditions of the Arbitrator’s decision; or
    2. Any matter for which arbitration is not available under the Terms and Conditions unless arbitration is not available because and only because the time limit for submitting the matter to arbitration including any extension of the time period has expired.
  2. No action or legal proceeding will be commenced or prosecuted by the Buyer or the Seller against TradeBid or any TradeBid Partner for any matter, cause or thing directly or indirectly related to TradeBid System or services, including but not limited to arbitration services. Unless otherwise prohibited by law, buyer and the seller release and waive all rights, remedies, claims, and causes of action against TradeBid and TradeBid partners from any claim or remedy whatsoever, whether known or unknown, for or by reason of using the TradeBid System, services or services provided by TradeBid Partners including but not limited to arbitration services.
  1. Additional Information. The arbitration process is not a tool for price reduction or for dealing with “Buyer’s Remorse”. Buyers are cautioned to avoid impulse buying and to review all available information thoroughly before bidding. All used vehicles generally have flaws and may require repairs. Buyers should allow for this in their bidding. Arbitration cases are regularly monitored by TradeBid. Sellers who repeatedly fail to properly represent their Vehicles or Buyers who repeatedly submit questionable arbitration claims, may have their rights of access to the TradeBid System and services temporarily or permanently suspended.
  2.  Major Components that are included in arbitration are as follows:

Component

Arbitration

Engine

Covered per Seller Obligations

Gearbox

Covered per Seller Obligations

Powertrain

Covered per Seller Obligations

Sub-Frame

Covered per Seller Obligations

Electric/Air Ride Suspension

Covered per Seller Obligations

Fuel Operating System

Covered per Seller Obligations

Electrical System

Covered per Seller Obligations

Emissions System

Covered per Seller Obligations

Anti-Lock Braking System

Covered per Seller Obligations

 

  1. Arbitration Thresholds
  1. Up to €750 contribution per major component with a minimum cost threshold of €300 for vehicles up to €40,000 and 2% of vehicle value over €40,000 inclusive of all fees
  2. Up to €500 for undisclosed bodywork through paint

 

  1. Wearable Items

Wearable Items are parts of the vehicle that the manufacturer recognises the need for replacement or adjustment during the expected life of the vehicle. These items are norm the owner’s manual for routine check and replacement and include, but are not limited to: wipers, brake pads, shoes, rotors, calipers, belts, hoses, tires, lubricants, fluids, timing filters, shocks and struts. Normal exterior wear and tear means damage that would be considered normal wear and tear given the distance travelled and the age of the vehicle and is easily seen, such that do not break the paint, minor nicks, cuts and/or scuffs. Noise and inherent conditions. arbitration cannot be based on noises or conditions that are inherent or typical to a particular model or manufacturer, unless deemed “excessive arbitrator on non-warranty items. OEM dealer warranty guidelines will be used where applicable to determine whether the condition is excessive.

  1. Acceptance

By accessing or using the TradeBid System, you agree to abide by this Arbitration Policy. PLEASE READ THIS ARBITRATION POLICY CAREFULLY BEFORE SIGNING-IN OR USING THE TRADEBID SYSTEM. BY SIGNING-IN OR USING THE TRADEBID SYSTEM, YOU ARE AGREEING TO THIS ARBITRATION POLICY AND REPRESENT THAT YOU HAVE AUTHORITY TO ACCEPT THIS ARBITRATION POLICY ON BEHALF OF THE BUSINESS ASSOCIATED WITH YOUR USER ID AND PASSWORD.