FAQ

•  Your sales tax exemption number, if you believe your item is exempt from sales tax.
•  Your City / State / Zip Code delivery address / item destination
•  Buyers exporting items will also be asked to declare their US port of export.

If your resale certificate is already on file for your item destination state, your resale exemption number will pop-up automatically during Checkout. If your resale certificate is not on file, you will need to provide a copy of your resale certificate using the bar-coded fax form provided for your convenience. You can print this fax form during Checkout and from the Post Sale page.

• Fair Market Value (FMV) - Defined as the amount expressed in terms of money that may reasonably be expected for property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell and both fully aware of all the relevant facts, as of a specific date.
• Orderly Liquidation Value (OLV) - Defined as the estimated gross amount expressed in terms of money which could be typically realized from a sale, given a reasonable period of time to find a purchaser(s), with the seller being compelled to sell on an as-is where is basis, as of a specific date.
• Forced Liquidation Value (FLV) - Defined as the estimated gross amount expressed in terms of money which could be typically realized from a properly advertised and conducted public sale, with the seller being compelled to sell with a sense of immediacy on an as-is where-is basis, as of a specific date.

PriorityBid^SM is our system for placing bids during the preview period of an auction. A significant amount of all bidding in our auctions occurs with PriorityBids; more than 70% of items typically have bids on them before auction day. Because they are placed during preview, PriorityBids have a delayed effect on the price of an item: the price does not change until the auction opens. There are several advantages of using PriorityBids:

• You do not have to be at your computer on auction day. When you place a PriorityBid, you specify the maximum you are willing to pay for an item. You will be told immediately if yours is the highest bid placed so far, but you will not know how much of your bid amount remains to protect you from later bidders. Your bid amount is confidential and our auction software will keep you in the lead against competitive bids through the preview and on auction day or until your maximum amount is exceeded. If you get outbid by another PriorityBid, an automatic email will immediately be sent to you.
• You can win the item for less than your maximum amount. In our style of auctions, the price the winner pays is determined by the price the runner-up was willing to pay. The final price is never more than one bid increment greater than the next-highest bid. So, if you have little competition, you can win an item for less than your maximum amount. We recommend you determine your "no regrets" price—the price at which, if someone else were to win, you would not regret the outcome—and then bid one increment below that.
• Bidding early helps ensure that you are the winner. When competing PriorityBids are placed for the same amount, the earliest bid takes precedence (it has Priority at that price), so submitting your bid early gives you an advantage. You can place a PriorityBid online any time day or night, or by fax during our Customer Care hours.
• Freedom to keep an eye out for other bargains. PriorityBids give you the freedom to browse and track other items on auction day without worrying about your "must-have" items. Our system acts as your assistant, constantly monitoring your PriorityBids and keeping you in the lead until the price goes beyond your designated maximum bid amount.

As auction day approaches, you can check the status of your PriorityBids in the Buying List of My Account. Make sure your email address and notification settings are correct in My Account Profile so that you can receive outbid notification emails. Before even being outbid, you can increase the maximum on any of your PriorityBids by placing a new PriorityBid on the same item for your new maximum amount (don't worry, you can not outbid yourself). Like all bids, PriorityBids are binding and can not be retracted nor reduced.

• You are a reseller of like-kind equipment as the equipment you just bought; and
• You have a valid Seller Permit (or its equivalent) from your state; and
• You have completed the Exemption or Resale Certificate for your state and submitted it to TruckPlanet; and
• You have submitted a Bill of Lading from a common carrier for shipment of your purchase.

• The name and address of the purchaser.
• The number of the Reseller's Permit held by the purchaser (see Note below).
• A description (including serial number or VIN) of the specific property being purchased.
• A statement that the described property is being purchased for resale.
  • The certificate must contain words that state the property will be resold or is for resale. The use of words such as "nontaxable" or "exempt" or similar terms is not acceptable.
• Signature of the purchaser or someone approved to act on his or her behalf.
• Date certificate was signed.

Some states, such as California, require a Seller's Permit; buyers from such states must always supply a Seller's Permit number on their Resale Certificates.

• Liability for the amount of tax due had the certificate not been used; and
• Liability for Interest payments on the tax due; and
• Penalties imposed by your state for intent to fraud or intent to evade tax; and
• Possible cancellation of your Seller's Permit.

Additionally, you will be responsible for the full cost of transportation payable directly to the company you hire to transport the equipment.

Any items not paid within terms will be considered in default and the buyer will be subject to a "Default Penalty" equal to any deficit that may occur when the item is resold plus a 14% commission on the resale price with a minimum fee of $2,000. This fee will be applied separately to each individual unit on which the winning bidder defaults. Please ensure your financing is arranged prior to bidding to ensure that the full payment will be received on time and to avoid any Default Penalties.

When submitting a request for a tax refund, please provide your Bank wiring instructions including:

•  Bank Name
•  Bank Address
•  Name on Bank Account
•  Swift Code
•  Account Number
•  ABA or Routing Number