Salvage auction definition

Salvage auction means a person or entity whose primary
Salvage auction means the wholesale exchange or sale of
Salvage auction means a person or entity whose primary business is the sale of motor vehicles for which insurance companies have made payment of damages on total loss claims.

Examples of Salvage auction in a sentence

  • Vehicle identification number;(B) Name and address of the seller and buyer of the motor vehicle; and(C) Salvage auction buyer's identification card number.(3) The register shall be made available for inspection by law enforcement officers of the state, county, or municipality during regular business hours on business days atthe salvage auction’s business location.

  • Salvage auction buyer’s identification cards shall be issued by the department on a form prescribed by the department and shall contain at a minimum.

  • Odometer disclosure statement – The Maryland Certificate of Salvage, auction receipt, or bill of sale may be used to declare the vehicle’s odometer reading.


More Definitions of Salvage auction

Salvage auction means an auto auction that provides for the wholesale exchange or sale of wrecked, salvaged, damaged, or water-damaged motor vehicles using an auction format;

Related to Salvage auction

  • Reverse auctioning means a procurement method wherein bidders are invited to bid on specified goods or nonprofessional services through real-time electronic bidding, with the award being made to the lowest responsive and responsible bidder. During the bidding process, bidders' prices are revealed and bidders shall have the opportunity to modify their bid prices for the duration of the time period established for bid opening.

  • Reverse auction means a procurement method in which offerors are invited to bid on specified goods or services through online bidding and real-time electronic bidding. During an electronic bidding process, offerors’ prices or relative ranking are available to competing offerors and offerors may modify their offer prices until the closing date and time.

  • Dutch Auction means an auction (an “Auction”) conducted by Holdings or one of its Subsidiaries in order to purchase any Term Loans under a Tranche (the “Purchase”) in accordance with the following procedures or such other procedures as may be agreed to between the Administrative Agent and the Borrower Representative:

  • E-Auction Process /”E-Auction” shall mean the electronic auction process for sale of the Company conducted in accordance with the provisions of IBC, Liquidation Process Regulations, Applicable Law(s) and this E- Auction Process Information Document inviting Bid from the Bidders for consummating the sale of Company on going concern basis in accordance with the provisions of IBC and Liquidation Process Regulations;

  • LIBOR Auction means a solicitation of Money Market Quotes setting forth Money Market Margins based on the London Interbank Offered Rate pursuant to Section 2.03.

  • Failed Auction has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Auction shall have the meaning specified in Section 2.1 hereof.

  • public auction means a method of sale where goods or services are offered by the trader to consumers, who attend or are given the possibility to attend the auction in person, through a transparent, competitive bidding procedure run by an auctioneer and where the successful bidder is bound to purchase the goods or services;

  • Absolute Rate Auction means a solicitation of Money Market Quotes setting forth Money Market Absolute Rates pursuant to Section 2.03.

  • Auction Final Price means the relevant auction final price that may be published by ISDA or any administrator of any auction coordinated by ISDA from time to time and that would be applicable to the senior, unsecured debt obligations issued or guaranteed by the relevant

  • electronic auction means an iterative process that involves the use of electronic means for the presentation by suppliers of either new prices, or new values for quantifiable non-price elements of the tender related to the evaluation criteria, or both, resulting in a ranking or re-ranking of tenders;

  • Auction Date means the first Business Day preceding the first day of a Dividend Period.

  • Base Residual Auction means the auction conducted three years prior to the start of the Delivery Year to secure commitments from Capacity Resources as necessary to satisfy any portion of the Unforced Capacity Obligation of the PJM Region not satisfied through Self- Supply.

  • Successful Bidder” or “Successful E-Auction Process Participant means, the Qualified Bidder whose bid is approved and who is declared successful by the Liquidator at the end of the determined auction phase.C. INTRODUCTION

  • Auction Period means the dates during which the Test the Waters Auction is held and ending on the last day of the Test the Waters Auction.

  • Incremental Auction means any of several auctions conducted for a Delivery Year after the Base Residual Auction for such Delivery Year and before the first day of such Delivery Year, including the First Incremental Auction, Second Incremental Auction, Third Incremental Auction or Conditional Incremental Auction. Incremental Auctions (other than the Conditional Incremental Auction), shall be held for the purposes of:

  • FTR Portfolio Auction Value means for each customer account of a Market Participant, the sum, calculated on a monthly basis, across all FTRs, of the FTR price times the FTR volume in MW.

  • Auction Rate means the rate of interest per annum that results from implementation of the Auction Procedures and is determined as described in Section 2.02(a)(iii)(B) of this Appendix A.

  • Contributory drainage area means the area from which stormwater runoff drains to a stormwater management measure, not including the area of the stormwater management measure itself.

  • Hydrozone means a portion of the landscaped area having plants with similar water needs. A hydrozone may be irrigated or non-irrigated.

  • Reliability Pricing Model Auction or “RPM Auction” shall mean the Base Residual Auction or any Incremental Auction, or, for the 2016/2017 and 2017/2018 Delivery Years, any Capacity Performance Transition Incremental Auction.

  • Contract base bid means the total dollar amount a contractor bids on a contract without factoring any bid incentive or percentage reductions to the bid amount.

  • Beyond use date means the date determined by a pharmacist and placed on a

  • Indirect cost rate proposal means the documentation prepared by a governmental unit or subdivision thereof to substantiate its request for the establishment of an indirect cost rate.

  • Credit Derivatives Auction Settlement Terms means the credit derivatives auction settlement terms published by ISDA in relation to the Reference Entity or Reference Obligation with the object of determining an Auction Final Price, which shall include, where more than one set of terms is published in respect of the Reference Entity, all or any of such terms so published.

  • Flocculation means a process to enhance agglomeration or collection of smaller floc particles into larger, more easily settleable particles through gentle stirring by hydraulic or mechanical means.