Arbitration is a valuable service provided by the auctions to protect the interests of both buyers and sellers to assure the vehicle in any transaction has been properly represented. An individual employed by the auction company, which is a neutral party in the buying and selling process, arbitrates any disputes. Certain conditions such as undisclosed frame damage, a repaired frame or rebuilt cars must be arbitrated within set time periods.
Arbitration usually applies to vehicles that were announced and sold under the green light, meaning those sold free of any known major defects. Controversies can be resolved by the two parties coming to some kind of financial adjustment on the selling price or if the arbitration finds the buyer's complaints accurate, and no monetary compromise can be reached, the sale may be canceled or unwound. Auction arbitration services are free to buyers and sellers.
