1. Title Options

Prior to listing the vehicle for sale through Global Car Exchange, the Seller is required to identify which of the following title options applies to each vehicle:

Title Options. Prior to listing the vehicle for sale through Global Car Exchange, the Seller is required to identify which of the following title options applies to each vehicle:

b. Title Absent Seller does not currently have the title in its possession, and it is necessary for the Seller to obtain the title.

2. Seller’s Obligations related to Titles

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

b. All titles submitted by Seller must be in 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, Seller will indemnify and defend Global Car Exchange, 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. Global Car Exchange is not the Buyer of the vehicle and does not take title or possession of the vehicle, and therefore any title listing Global Car Exchange as the Buyer will be returned to the Seller to be corrected.

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

• The VIN is correct.
• Vehicle mileage listed on the front of the title is accurate.
• If there is a lien on the title, the required signature is on or included with the title, along with the original lien release.
• All reassignments are accurate and included.
• If a power of attorney form has not already been signed by the Seller granting Global Car Exchange the right to complete the title as necessary to complete the sale, a signed power of attorney form is included with the title.
• All paperwork requiring a notary signature has been notarized.

f. For any vehicle being sold with the Title Absent, Seller is required to deliver the title to Global Car Exchange within 30 calendar days (or 45 days in California) from the sale of the vehicle, where the sale day is counted as day 1. For any vehicle being sold Title with Deal, Seller is required to deliver the title to Global Car Exchange within 7 calendar days from the sale of the vehicle.

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, Global Car Exchange shall have no duty to produce the certificate of title to the Buyer and shall have no duty to pay Seller.

h. Sellers will be responsible for refunding vehicle transportation expenses where a title could not be produced.

3. Buyer’s Rights and Obligations.

a. If the Buyer has paid for the vehicle and Global Car Exchange does not receive 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 right at any time thereafter (but before 90 days from the sale of the vehicle) to give Global Car Exchange 48-hours’ notice of its intent to withdraw its offer for the vehicle if no title is received within such notice period. Notice should be sent to titles@globalcarexchange.com. When such notice is received by Global Car Exchange, a member of the Global Car Exchange Title Team will contact the Seller to make them aware of the notice.

b. If the title has been received by Global Car Exchange within the 48-hour notice period (excluding weekends and Global Car Exchange observed holidays), Buyer may not withdraw its offer for the vehicle.

c. Global Car Exchange and 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 Global Car Exchange’s platform, Global Car Exchange 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 Global Car Exchange 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 Global Car Exchange the right to sign the title on Seller’s behalf.

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

e. Once Global Car Exchange receives the valid title from the Seller, Global Car Exchange will send payment to Seller for the applicable vehicle.

f. Once Global Car Exchange has received cleared payment from the Buyer, Global Car Exchange will send Buyer a document giving the Buyer the right to pick up the vehicle.

g. Once Global Car Exchange has received the title from the Seller (and payment from the Buyer), Global Car Exchange will send the title to the Buyer.

h. Global Car Exchange will arrange for transportation of the vehicle if the Buyer has chosen to use Global Car Exchange’s transportation facilitation services.

i. If Global Car Exchange receives a 48-hour notice from the Buyer, the Seller has until 5:00 PM Eastern time on the second business day from the date of the 48-hour notice was placed to deliver the correct, valid title to Global Car Exchange at the address specified in the express shipping label in order to avoid the cancellation of the transaction.

j. Note that 48-hour notices are suspended when inclement weather or a disaster affects Global Car Exchange’s ability to open for business and/or the express shipper’s ability to pick up and/or deliver titles. The notice resumes when Global Car Exchange has resumed operations, and the express shipper has the ability to pick-up and/or deliver to the affected areas.

Global Car Exchange may amend this policy at any time and any such amendments will be effective as of the date the amended policy is posted on the Global Car Exchange website unless otherwise specified in therein. For assistance with any title related questions, the Global Car Exchange title team may be reached at either (727) 945-6225 by choosing the titles extension option.