BUYER FEE GUARANTEE
In the event the Buyer believes that the boat purchased has been misrepresented by the Seller and has “significant defects”, the Purchaser shall retain an accredited surveyor with the Society of Accredited Marine Surveyors (SAMS) and have the boat surveyed within twenty one (21) days from the date of the bidding close. The buyer is responsible for initiating a Buyer Fee Guarantee claim within seven days of the auction close by email and is required to provide supporting details, photos and documentation regarding the claim. In the event the surveyor determines that the boat has “significant defects” then Boat Bids shall refund the 4% Buyer Fee to the Purchaser. The Purchaser shall be responsible for all costs associated with retaining a SAMS surveyor.
A “significant defect” is defined as follows and the repair must exceed 10% of the winning bid:
- Hull, Deck and Stringer Moisture levels exceeding 20%(Wood) and 2.0%(FRP)
- Severe Delamination
- Major Un-repaired Impact Damage to vessel structure (not shown in listing photos)
- Damage to Engine Block or Internals
- Damage to Drive/Transmission Internals
Boat Bids reserves the right to evaluate all surveys provided and request additional information when determining the validity of a claim. Boat Bids requires surveys to be completed by a SAMS accredited surveyor. We may request photographs of moisture meter readings for affected areas, detailed diagnostic of mechanical failures, detailed photographs of undisclosed damages. We reserve the right to request multiple repair estimates when determining if damage falls within the above criteria. Once a decision has been made regarding the claim, Boat Bids will refund the Buyer Fee to the original form of payment within 10 business days.
To Submit a Claim, send us an email with the following:
BFG@Boat-Bids.com
- Your name, address and telephone number
- Boat Information and Seller Information
- A copy of the completed survey (by a SAMS Accredited Surveyor)
- Any supporting photos or documentation
A representative will review your case and be in contact via email