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Payments and Related Issues
The schedule and detailed payment plan for the vehicle purchase and transport process are available on our website. There, you will find all the necessary information regarding the successive stages of purchase, transport, customs clearance, and delivery of your vehicle. Understanding this information will help you better navigate and complete the entire import process with Bidmax.
On the statement we receive, there may be additional charges not included in the fee calculator. These charges are imposed by the auction house in special cases:
โข Underpayment in Transfer - if a client makes a transfer with a cost option other than OUR or due to another issue on the part of the sending bank. In such cases, funds are recorded in an amount less than the amount sent. The underpayment usually ranges from $10-$30.
โข Late Payment Fee โ applies when funds are credited to the auction house after the deadline: 2 business days for Copart and 4 business days for IAAI. Delays may be caused by the lack of an Overnight transfer option in the sender's bank or other bank-related issues. If the fee is applied, it amounts to: Copart โ $50, IAAI โ $50 or 2% of the purchase value (whichever is higher).
โข Fedex Courier Document Shipping Fee - a charge of $20.
โข Storage Fee - not every vehicle can be collected within the auction house's set timeframe. This is related to the short vehicle collection period at the auction, payment delays on the client's part, or simply the remote location of the branch. Storage fees at Copart/IAAI are settled as follows: for up to 2 business days, starting from the day following the payment for the vehicle at the auction house, the client covers 100% of the storage fees. Starting from the 3rd day after the payment until the vehicle is picked up from the Copart/IAAI branch, the client pays 50% of the storage fees and the other 50% is covered by Bidmax.
Fees charged by Copart and IAAI are final and cannot be disputed or reduced. This applies regardless of whether the client was able to make the payment on time, used the correct transfer method, or if weekends or public holidays occurred during the fee period. All such costs must be paid according to the rules of Copart and IAAI.
We provide PDF files with detailed instructions for transferring funds to both IAAI and Copart auction houses, as well as for transport costs. These files are available in both English and Lithuanian versions and contain all necessary banking information for making international transfers.
