Effective Date: September 1, 2021   These Auction Terms of Use (“Terms”) govern your access to and use of the online auction platform operated by Recartautocomp, LLC (“Recartautocomp,” “we,” “us,” or “our”), including any websites, applications, or services used to conduct vehicle auctions (collectively, the “Services”).   Contact Information
Email: [email protected]
Phone: +1 (316) 453-6111
Address: The Riverview Building, 345 Riverview St, Wichita, KS 67203 By accessing or using the Services, you agree to be legally bound by these Terms and our Privacy Policy. If you do not agree, you may not use the Services.

IMPORTANT ARBITRATION & CLASS ACTION NOTICE

EXCEPT FOR CERTAIN LIMITED DISPUTES DESCRIBED BELOW, ALL DISPUTES MUST BE RESOLVED BY BINDING INDIVIDUAL ARBITRATION, AND YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION OR CLASS-WIDE ARBITRATION.

1. Auction Platform & Agency Relationship

Recartautocomp operates an auction-only marketplace for the sale of motor vehicles and automotive assets. Recartautocomp acts solely as an authorized agent for banks, finance institutions, leasing companies, and other asset owners (each, an “Asset Owner”) to market and sell:

1. End-of-lease vehicles
2. Repossessed vehicles
3. Fleet vehicles
4. Other automotive assets

Recartautocomp does not own the vehicles unless expressly stated and does not take title to vehicles sold through the Services.   All vehicle sales are made by the Asset Owner, with Recartautocomp acting only as the authorized selling agent. Recartautocomp is not a dealer, lender, broker, or purchaser, and is not a party to the final vehicle purchase contract except as agent for the Asset Owner.

2. Buyers and Sellers

For purposes of these Terms:

1. “Seller” means the Asset Owner (bank, finance company, leasing company, or other owner), acting through Recartautocomp as its authorized agent.
2. “Bidder” or “Buyer” means any user placing a bid on a vehicle.

Any resulting sale contract is between the Asset Owner and the winning Buyer, even though Recartautocomp facilitates the transaction as agent.

3. Eligibility

You must be at least 18 years old and legally capable of entering into binding contracts to use the Services.   If you are bidding on behalf of a business entity, you represent that you have the authority to bind that entity.

4. Accounts & Registration

You may be required to register an account. You agree to:

1. Provide accurate, current, and complete information
2. Maintain the confidentiality of your login credentials
3. Accept responsibility for all activity conducted through your account

Accounts are non-transferable without Recartautocomp’s written consent.

5. Auction Rules

Binding Bids

1. All bids are final, binding, and irrevocable
2. The highest bid at the auction close constitutes a legally binding offer
3. Winning Buyers are obligated to complete payment and purchase

Vehicle Condition & Disclosures

Vehicles sold through the Services may include repossessions or off-lease assets and may show wear, damage, or missing items.   ALL VEHICLES ARE SOLD “AS IS, WHERE IS,” WITH ALL FAULTS, unless expressly stated otherwise in writing by the Asset Owner.

6. Payments & Fees

1. Registration is free
2. Certain auctions or services may require payment
3. Winning Buyers must pay the final bid amount and any disclosed fees

Unless expressly stated otherwise, buyer payments are refundable prior to vehicle release.

Seller (Asset Owner) Payments

Asset Owners must provide required payment and tax documentation (including IRS Form W-9) within 90 days following auction completion. Failure to do so releases Recartautocomp from payment obligations.

7. Prohibited Conduct

You agree not to:

1. Manipulate auctions or bidding activity
2. Bid without intent or ability to complete purchase
3. Create multiple accounts to influence outcomes
4. Misrepresent identity or payment capability
5. Interfere with auction integrity or platform security

Violations may result in immediate suspension or permanent termination.

8. User Content

You retain ownership of content you submit but grant Recartautocomp a worldwide, perpetual, royalty-free, sublicensable license to use such content in connection with auction operations and marketing.   You represent that all submitted content is accurate and lawful.

9. Copyright & DMCA

Recartautocomp complies with the Digital Millennium Copyright Act (17 U.S.C. §512).   DMCA Designated Agent
Recartautocomp, LLC
Attn: DMCA Agent
The Riverview Building
345 Riverview St, Wichita, KS 67203
Email: [email protected]   Repeat infringers may have accounts terminated.

10. Disclaimer of Warranties

THE SERVICES AND ALL AUCTIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”   Recartautocomp MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING:

1. VEHICLE CONDITION OR ROADWORTHINESS
2. TITLE STATUS OR LIEN RELEASE TIMING
3. AUCTION RESULTS OR TRANSACTION COMPLETION

ALL WARRANTIES, EXPRESS OR IMPLIED, ARE DISCLAIMED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

11. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER Recartautocomp NOR THE ASSET OWNERS SHALL BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES.

12. Indemnification

You agree to indemnify and hold harmless Recartautocomp, the Asset Owners, and their affiliates from any claims arising from:

1. Your participation in auctions
2. Your breach of these Terms
3. Your failure to complete a purchase

13. Termination

You may terminate your account at any time. Recartautocomp may suspend or terminate access at its sole discretion.   All provisions relating to arbitration, liability, indemnification, and intellectual property survive termination.

14. Governing Law

These Terms are governed by:

1. The Federal Arbitration Act
2. Applicable U.S. federal law

15. Arbitration Agreement

Binding individual arbitration administered by JAMS shall resolve all disputes.

1. No class or consolidated actions
2. Small claims court permitted, where applicable
3. Injunctive relief is allowed for intellectual property disputes

Opt-Out

You may opt out within 30 days of first acceptance by mailing written notice to:   Recartautocomp, LLC
The Riverview Building
345 Riverview St, Wichita, KS 67203

16. Miscellaneous

1. These Terms constitute the entire agreement
2. No partnership, joint venture, or employment relationship is created
3. Unenforceable provisions are severed
4. No third-party beneficiaries, except Asset Owners as intended beneficiaries