Title Policy

1. Title Options . Prior to listing the vehicle for sale through ACV Auctions, the seller is required to identify which of the following title options applies to each vehicle:

a. Title with Deal - seller has the negotiable title for the vehicle in its possession at the time of the sale and is able to send the title to ACV promptly upon completion of the sale.

b. Title Absent – seller does not currently have the negotiable title in its possession, and it is necessary for the seller to obtain the negotiable title. ACV reserves the right to charge the seller a fee for vehicles listed with title absent.

2. Seller’s Obligations related to Titles

a. The seller must ensure the vehicle is being offered for sale with a US title.

b. All titles submitted by a seller must be in the seller’s company name on the title or on a properly executed reassignment form.

c. Seller warrants, represents and guarantees possession and conveyance of a certificate of title, properly executed, valid in the state where the transaction is occurring and clear of all liens and encumbrances. In the event any demand or claim is made related to the title, the seller will indemnify and defend ACV, the buyer, and the end consumer against such demand or claim and any and all damages associated therewith.

d. Seller will ensure that the title is reassigned directly to the buyer. ACV Auctions is not the buyer of the vehicle and does not take title or possession of the vehicle, and therefore any title listing ACV Auctions as the buyer will be returned to the seller to be corrected.

e. Seller will ensure that with regard to the title:

1. The VIN is correct.

2. Vehicle mileage listed on the front of the title is accurate.

3. If there is a lien on the title, the required signature is on or included with the title, along with the original lien release.

4. All reassignments are accurate and included.

5. If a power of attorney form has not already been signed by the seller granting ACV Auctions the right to complete the title as necessary to complete the sale, a signed power of attorney form is included with the title.

6. All paperwork requiring a notary signature has been notarized.

f. For any vehicle being sold Title with Deal, seller is required to deliver the title to ACV Auctions within 7 calendar days from the sale of the vehicle. ACV reserves the right to charge the seller a fee for any title not delivered within the timeframes specified herein. For any vehicle being sold with the Title Absent, seller is required to deliver the title to ACV Auctions within 30 calendar days (unless a different period is required by an applicable state’s rules) from the sale of the vehicle, where the sale day is counted as day 1.

g. If, after 90 calendar days after the sale for the vehicle, seller has not produced negotiable title (regardless of whether the vehicle is sold with Title with Deal or Title Absent) and Buyer has not returned the vehicle, ACV Auctions shall have no duty to produce the certificate of title to the buyer and shall have no duty to pay seller. For the purpose of this policy, negotiable title shall mean that the title is fully transferable in accordance with the requirements of the buyer’s state.

h. Sellers will be responsible for refunding vehicle transportation expenses and any other fees and costs incurred by ACV where a negotiable title could not be produced.

3. Buyer’s Rights and Obligations.

a. If the buyer has paid for the vehicle and ACV Auctions does not receive negotiable title within five (5) calendar days after the sale of the vehicle for a vehicle sold as Title with Deal or twenty eight (28) calendar days after the sale of the vehicle for Title Absent vehicles, the buyer shall have the one-time right at any time thereafter (but before 90 days from the sale of the vehicle) to give ACV Auctions 48 hours’ notice of its intent to withdraw its offer for the vehicle (“48-Hour Notice”) if no title is received within such notice period. In the near term, the 48-Hour Notice should be sent to titles@acvauctions.com. Once available from ACV, such 48-Hour Notices should be requested through the MyACV titles page (either on the desktop webpage or in the mobile app). When a 48-Hour Notice is received by ACV Auctions, a member of the ACV Title Team will contact the seller to make them aware of the notice and specify the applicable 48-Hour Deadline Time (as defined below).

b. Buyer may not withdraw its offer for the vehicle, and said offer will be considered final and binding upon buyer, if:

1. negotiable title is received by ACV Auctions by the deadline date and time more particularly set forth on the 48 Hour Timing Transparency Matrix attached hereto as Exhibit A (the “48-Hour Deadline Time”),

2. buyer revoked its original 48-Hour Notice,

3. buyer sold the vehicle before receiving the title, or

4. buyer is no longer in possession of the vehicle.

c. Buyer may withdraw its offer for the vehicle and cancel the transaction after giving ACV Auctions the 48-Hour Notice for the applicable vehicle only if:

1. negotiable title is not received by ACV Auctions by the 48-Hour Deadline Time,

2. buyer has not otherwise revoked its original 48-Hour Notice,

3. buyer has not already sold the vehicle, and

4. buyer is still in possession of the vehicle.

Buyer may withdraw its offer for the vehicle by sending an email to titles@acvauctions.com, or once available, through the MyACV titles page. If buyer exercises said option to withdraw its offer and cancel the transaction, ACV Auctions shall have no duty to produce the certificate of title to the buyer and ACV Auctions shall have no duty to pay seller; provided, however, in the event ACV has already paid seller for the vehicle, seller will promptly reimburse ACV all applicable funds upon ACV’s notice of cancellation to seller.

d. ACV Auctions and the seller will not be responsible for any vehicle sale or repairs made to vehicles prior to buyer’s receipt of title.

4. Title Processing Procedures .

a. When a vehicle is sold through ACV Auctions’ platform, ACV will email the buyer and seller a bill of sale. The seller will also receive an express shipping label for shipping the title paperwork.

b. Upon receipt of the bill of sale, if the vehicle was sold Title with Deal, the seller must send the title (meeting the specifications set forth above) to ACV Auctions within seven (7) calendar days.

c. Seller will either provide a signed title, or an unsigned title and a signed power of attorney agreement giving ACV Auctions the right to sign the title on seller’s behalf.

d. If there are any issues with the title that ACV Auctions is not permitted to revise under an existing POA, the title will be returned to the seller for correction, and the seller will correct such issues within a reasonable timeframe, not to exceed the applicable states’ typical processing timeframe.

e. Once ACV receives the valid title from the seller, ACV will send payment to the seller for the applicable vehicle.

f. Once ACV has received cleared payment from the buyer, ACV will send the buyer a document giving the buyer the right to pick up the vehicle.

g. Once ACV has received the title from the seller (and payment from the buyer), ACV will send the title to the buyer.

h. ACV will arrange for transportation of the vehicle if the buyer has chosen to use ACV’s transportation facilitation services.

i. If ACV Auctions receives a 48-Hour Notice from a buyer, the seller has until the 48-Hour Deadline Time to deliver the correct, valid title to ACV Auctions at the address specified in the express shipping label in order to avoid the cancellation of the transaction. The applicable 48-Hour Deadline Time is more particularly explained on the “48 Hour Timing Transparency Matrix” attached hereto as Exhibit A.

1. Note that the 48-Hour Deadline Time may be extended by ACV, in ACV’s sole discretion, to account for holidays, inclement weather, or an event of force majeure (e.g. an act of the government, war conditions, strikes, fire, flood, pandemics, act of God or any other event beyond the reasonable control of the parties) affects ACV Auctions’ ability to open for business and/or the express shipper’s ability to pick up and/or deliver titles. Any extension to the 48-Hour Deadline Time will be communicated by ACV Auctions to the buyer as soon as reasonably practicable.

2. Note that Saturdays, Sundays, and nationally recognized U.S. holidays do not count when calculating the 48-hour Notice.

ACV may amend this Title Policy at any time and any such amendments will be effective as of the date the amended policy is posted on the ACV Auctions website unless otherwise specified in therein.

For assistance with any title related questions, the ACV Auctions title team may be reached at either 800-553-4070 or 716-796-6976 by choosing the titles extension option.