DoveBid - Payment Information

DoveBid Payment Options

DoveBid Payment options and terms may differ by sale. Please review that particular sale's details page and the below information for accurate payment terms.
If you need further assistance please contact Customer Service.

General Information (North America)

Sale Currency
Payment Methods
Wire Transfer
Checks with a Bank Letter of Guarantee
Sales Tax
Buyer's Premium
Leasing and Financing Services

Authorized Agent Release Form
Bank Letter of Guarantee
Resale Certificate
Other Tax-Exempt Organizations
Bill of Lading or Proof of Shipment
Auction Payment Process

Sale Currency	USD - United States Dollars (unless otherwise stated)
Payment Methods	* Cash * Credit Card (Visa™, Mastercard™, or American Express™) * Cashier's Check * Wire Transfer * Company Check (only if accompanied by a bank letter of guarantee)
Wire Transfer	Please refer to your invoice for specific wire instructions. NOTE: You must include the auction name, your name & your bidder number with the wire details.
Checks with a Bank Letter of Guarantee	When processing payments by checks, buyers must send checks to below address. (unless otherwise stated) Send envelopes to: DoveBid Attn: Auction Accounting 200 Corporate Pointe, Suite 300 Culver City, CA 90230 1-310-775-6700 On the check, please write: - Auction/ Sale Name - Buyer Number - The name of the person or company who registered for the sale (located on the invoice). Instructions for Mailing Checks or Certified Funds: Please use a trackable method of postage (eg. Fedex, UPS, USPS Priority Mail) Please choose 'overnight' or 2-day' delivery options only. Payments not received within three business days of the sale may cause the items to be considered abandoned and may be re-sold. Include a copy of the invoice in the envelope, if possible. All company checks MUST be accompanied by a Letter of Guarantee (see "Supplemental Document Requirements" below). A receptionist is available to accept personally-delivered checks during normal business hours.
Sales Tax	Depends on the location of the sale and the location of the assets. Applicable taxes will be added to the purchase price of all taxable items as a default. Taxes will be reimbursed ONLY after invoices are paid in full. To be relieved from the liability of sales and use taxes, winning bidders must either 1) be in the business of re-selling similar equipment, 2) have tax-exempt status (school, organization, etc), or 3) ship the equipment out of state. Certain restrictions apply. See "Supplemental Document Requirements" below.
Buyer's Premium	DoveBid shall charge and collect for its own account a 17 percent maximum Buyer's Premium, subject to discounts based upon bidding and payment methods, from each successful bidder in addition to the purchase price as bid. A discount from the Buyer's Premium equal to 2 percent of the sales price shall apply to purchasers who pay in the form of cash, cashier's check, company check (with approved bank guarantee letter) or wire transfer provided payment in full is received by DoveBid within 72 hours from receipt of DoveBid's invoice. Bidders paying by Credit Card: 17% Bidders paying by Cash, Cashier's check, or Wire Transfer AND payment in full is received by DoveBid within 72 hours from receipt of invoice: 15%
Leasing and Financing Services	Available only to buyers AND assets located in the US, AuctionLease has financed the purchase of thousands of assets through auctions. With turnaround as quickly as 24 hours, AuctionLease can provide fast access to the capital you require to make asset purchases at DoveBid auctions. Upon approval, AuctionLease will pay your DoveBid invoice directly. Click here for AuctionLease details.

Please note: The above information is subject to change across individual sales. Please review the Sale-Specific Terms and Conditions and the sale's details page for any exceptions.

Supplemental Document Requirements (North America)

Authorized Agent Release Form

Buyers may either pick-up the assets themselves or contract with a third party to arrange for asset removal, packing, rigging, or shipping.

If the person picking up and removing equipment from an auction or sale location will be someone other than the registered bidder at that sale, the registered bidder must establish that person/ company as an "Authorized Agent" by completing the following form.

Agent Release Authorization form (Acrobat PDF)

Bank Letter of Guarantee (for payment via company check)

Payments by company check will not be accepted unless accompanied by a letter from the company's bank guaranteeing payment in full, without condition and upon demand. This letter should be furnished to DoveBid via post mail in conjunction with the check.

Requirements for a Letter of Guarantee:

Letter must be on official bank letterhead.
IMPORTANT: Bank must state that they guarantee the payment of the check being presented. It is not sufficient for the bank to state the credit limit or balance of the individual/company.
Letter must state the name of the individual or company for whom the guarantee is being stated and the check must have the same name printed on it.
Letter should contain the account number on which the check is to be drawn and the check should match this same account number.
Letter should state an ending date after which the letter of guarantee will expire. (At least seven days from sale)
Letter must contain a maximum amount for which the bank will guarantee. The check must not be written for more than is guaranteed by the bank.
Letter must be signed by a bank representative.

Example of a Letter of Guarantee:

DoveBid
200 Corporate Pointe, Suite 300
Culver City, CA 90230

Dear Sirs:

Please accept this letter as a statement of guarantee for XYZ Corporation.

1st National Bank will guarantee payment of the check being presented by XYZ to purchase items at your auction up to an amount no greater than $25,000.00. The account number of this check is 1234-555-321.

This letter of guarantee will be valid until September 23, 200X.

Regards,
John Dough
Bank Representative

Resale Certificate (for tax exemption)

Applicable taxes will be added to the purchase price of all taxable items as a default. To be relieved from the liability of sales and use taxes using a Resale Certificate, winning bidders must be in the business of re-selling similar equipment.

IMPORTANT: Every state authorizing a sales tax exemption requires a form for EACH auction. In the event of an audit, DoveBid is required to produce a form for each buyer for each sale.

Resellers, please fax an appropriate Resale Certificate to 650-356-6700. Please note the auction name and date, your buyer number, and your name.

Commonly Used Tax Exemption Forms
Other States in US	US Multi-state Resale Certificate (PDF) Use US Multi-state Resale Certificate for states not listed below.
Canada	Canadian GST & PST Tax Certificates
Colorado	Colorado Sales and Use Tax Reference Guide Sales Tax Exemption Certificate Multi-Jurisdiction Sales Tax Exemption on Purchases of Machinery and Machine Tools
Georgia	ST-4 - Out of State Dealer Exemption Certificate ST-5 - Georgia Dealer or Purchaser Exemption Certificate
Illinois	CRT-61 - Certificate of Resale ST-587 - Equipment Exemption Certificate
Maryland	ST-205 - Sales and Use Tax Refund Application DoveBid can refund or make exempt from sales tax only those buyers located in Maryland who are resellers, manufacturers, non-profits, or religious organizations and provide documents to prove this. All other buyers must pay the tax and claim a refund from the state of Maryland directly. The State of Maryland does not allow seller (DoveBid) to accept exemption certificates of any kind for buyers out-of-state that want to claim sales tax exemption for this auction.
Michigan	3372 - Michigan Sales and Use Tax Certificate of Exemption (Note: Michigan does not accept Bill of Lading as exemption.)
Minnesota	ST-3 - Sales and Use Tax Refund Application Sales tax fact sheets: Occasional Sales of Business Equipment and Goods
Mississippi	DoveBid can refund or make exempt from sales tax only those buyers who are Mississippi residents, complete our "US Multi-state Resale Certificate" and provide their MS ID# for resale or exemption. All other buyers must pay the tax and claim a refund from DoveBid once shipping documents are sent to DoveBid or from the the state directly by contacting the Mississippi State Tax Commission at 601-923-7300.
New York	ST-120 - Resale Certificate ST-121 - New York State and Local Sales and Use Tax Exempt Use Certificate
Pennsylvania	REV-1220 - Pennsylvania Exemption Certificate
Virginia	ST-10 - Sales and Use Tax Certificate of Exemption ST-11 - Sales and Use Certificate of Exemption ST-14 - Out-of-State Resale Dealer
Washington	(1) Canadian Resellers are exempt from Washington State sales tax after filling out DoveBid's standard "US Multi-state Resale Certificate". You must enter your exemption number on the form. (2) Residents located outside of Washington state may be exempt from sales tax. Only residents of US states and Canadian provinces that have a sales tax of less than 3 percent are exempt from Washington sales tax (Law § 82.08.0273). In the US, this includes Oregon, NH, and other US states with less than 3% tax rate. In Canada, residents of the Alberta province ONLY are exempt from the tax (since there is no local tax). Any person claiming exemption from retail sales tax under the provisions of this section must display proof of his or her current nonresident status as herein provided. Acceptable proof of a nonresident person's status shall include one piece of identification such as a valid driver's license from the jurisdiction in which the out-of-state residency is claimed or a valid identification card which has a photograph of the holder and is issued by the out-of-state jurisdiction. Identification must show the holder's residential address and have as one of its legal purposes the establishment of residency in that out-of-state jurisdiction.

Other Tax-Exempt Organizations (for tax exemption)

Applicable taxes will be added to the purchase price of all taxable items as a default. For schools or other organizations to be relieved from the liability of sales and use taxes, please fax a copy of your tax exempt status document to 650-356-6700. Please note the auction name and date, your buyer number, and your name.

IMPORTANT: Every state authorizing a sales tax exemption requires a form for EACH auction.

NOTE: For Colleges & Universities: Universities must have their state's sales tax exemption certificate to be exempt from sales tax - the exemption only applies in the state that appears on the certificate. All states do not accept out-of-state university exemption certificates. For example, Michigan State University's sales tax exemption certificate is not accepted in Illinois.

Bill of Lading or Proof of Shipment (for tax exemption)

Applicable taxes will be added to the purchase price of all taxable items as a default. Taxes will be reimbursed ONLY after invoices are paid in full. To be relieved from the liability of sales and use taxes using a proof of shipment document, winning bidders must ship the equipment out of state using a "common carrier."

If you purchased the goods remotely and are shipping them out of the state or country from which they were sold, you must provide DoveBid with a copy of the bill of lading (or other shipping receipt which shows the From and To locations and the date). If applicable, taxes will be reimbursed. Please fax this to 650-356-6700.

Auction Payment Process (North America)

DoveBid strives to settle an auction within 45 days for its clients. This includes invoices, discrepancies, payments, removal of equipment, and refunds. As a result, we try to adhere to the 1-2-3 Rule:

   1 day after the sale, invoices are sent.
   2 days after the sale, payments are due.
   3 days after the sale, equipment removal begins.

While not all buyers and clients can accommodate this schedule all of the time, it is our goal and we thank you for cooperating.

Step 1: Receive Invoices

Typically, within 24 hours of the completion of the sale, invoices are sent via email (or fax) to all unpaid webcast & on-location winning bidders. Invoices typically include detailed payment instructions (and exceptions to the terms listed here).

Disputes including lot numbers, bid amounts or quantities will be directed to the sale's Accounting Manager or Project Manager who will review the audio recording of the auction or database records and respond with a decision.

Step 2: Submit Payment and Supplemental Documents

Within 48 hours of receiving invoices, winning bidders make payments by calling Customer Service, the Accounting Manager or their bank.

To receive a wire or check discount from the buyer's premium, buyers can re-calculate their invoice and make payment or request to be re-invoiced with an updated final amount.

Resellers can provide a resale certificate to have the sales tax deducted and be re-invoiced.

Step 3: Present Proof of Paid-in-full and Remove Assets

Within one business day after making payment (once payments are processed and posted by the Accounting Manager or Customer Service), invoices reflecting a zero balance (aka Paid-in-full Invoice) are issued to paid buyers via email during DoveBid business hours.

The shipper or customer must present the Paid-in-full Invoice when picking up items at the warehouse.

Buyers who ship equipment out of state present a Bill of Lading to DoveBid for reimbursement of the sales and use taxes.

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