Version: 1.0
Effective: [ ] April 2026
This Payments & Collections Policy (Policy) applies to all vehicles purchased by an approved customer holding a valid motor dealer license (Approved Customer) via the Carma digital auction application (Auction App). It forms part of, and is incorporated into, the Carma Wholesale Platform Terms & Conditions. Capitalised terms have the meanings given in clause 11 (Definitions).
1.1 This Policy applies to every Accepted Bid. If there is any inconsistency between this Policy and any other Carma Auto Pty Ltd (ABN 34 648 842 362) (Carma) terms, this Policy prevails to the extent of the inconsistency for matters concerning payment, title, risk, collection, storage and transport.
1.2 Carma may update this Policy from time to time by notice in the Auction App or email. The version in force on the date an Accepted Bid is issued applies to that transaction.
Tax invoice
2.1 Following an Accepted Bid, Carma will issue a tax invoice (Invoice) to the successful Approved Customer's nominated billing contact within 24 hours of auction close. The Invoice will set out the Purchase Price (inclusive/exclusive of GST as indicated), any buyer fees and applicable charges.
Due Date
2.2 Cleared Funds must be received by Carma no later than 2 Business Days after the Invoice date (Payment Due Date). Time is of the essence.
Method
2.3 Payment must be made by electronic funds transfer (EFT) to Carma's nominated bank account as shown on the Invoice. Carma does not accept cash, credit cards or cheques. The Approved Customer must include the Invoice number as the payment reference and email remittance advice to ar@carma.com.au immediately after transfer.
No set-off
2.4 The Approved Customer must pay all amounts in full without set-off, deduction or counterclaim, except to the extent required by law.
GST
2.5 Amounts are stated exclusive of GST unless expressly stated otherwise. Where GST is payable, the Approved Customer must pay the GST at the same time as the consideration. Carma will issue a compliant tax invoice.
Bank detail security
2.6 Carma will never notify bank detail changes by SMS or instant message. If the Approved Customer receives a purported change, it must call Carma on a known number to verify before paying. The Approved Customer is responsible for transfers made to incorrect accounts due to failure to verify.
Title
3.1 Legal and beneficial title to a vehicle passes to the Approved Customer only when Carma receives the full Purchase Price and all other amounts due in cleared funds (Cleared Funds).
Risk
3.2 Risk of loss or damage passes to the Approved Customer when the vehicle is:
(a) collected by or on behalf of the Approved Customer from the Pick-Up Location; or
(b) loaded onto a carrier arranged by the Approved Customer or by Carma at the Approved Customer's request, whichever occurs first.
The Approved Customer must pursue any transit damage or loss directly with its carrier/insurer.
Uncollected but paid vehicles
3.3 If the Approved Customer pays but does not collect within the Collection Window, Carma may arrange transport to the Approved Customer's nominated address on the Approved Customer's behalf without further consent, and at the Approved Customer's risk and cost as set out in the Fee Schedule. From the time the vehicle is handed to the carrier or loaded onto Carma's carrier for transportation, all transit risk is the Approved Customer's.
Transit damage
3.4 Where Carma arranges transport under clause 3.2 or 3.3, Carma does so as the Approved Customer's agent. Claims lie against the carrier. Carma will provide reasonable assistance to lodge a claim but is not liable for carrier acts or omissions.
PPSA
3.5 Until title passes, the Approved Customer grants Carma a security interest (including a purchase money security interest) in the vehicle and its proceeds to secure all amounts owed. The Approved Customer consents to Carma perfecting that interest on the PPSR and waives any right to receive verification statements to the extent permitted by law.
Collection Window
4.1 The Approved Customer must book and complete collection within 3 Business Days of the Invoice date (Collection Window), during site operating hours as advised by Carma from time to time. The Approved Customer may request Carma transport the vehicle within 3 Business Days of the Invoice date, at the cost set out in the Fee Schedule, provided they notify Carma within at least 1 Business Day of the Invoice date.
Collection requirements
4.2 On collection, the Approved Customer (or its carrier) must present a government-issued photo ID (or written authority on letterhead if using a carrier) matching the invoice details, provide evidence funds have been cleared, and comply with all site safety rules. Carma may refuse release if details do not match.
Storage & access
4.3 If the Approved Customer does not collect the vehicle within the Collection Window, storage fees will apply as set out in the Fee Schedule. Additional call-out or loading fees may apply for collections outside standard hours.
Non-payment
5.1 If payment is not received by the Payment Due Date, Carma may (without prejudice to other rights):
(a) cancel the sale;
(b) relist the vehicle; and/or
(c) suspend or terminate the Approved Customer's Auction App access.
Lien & no release
5.2 Carma may retain possession and refuse release of any vehicle (including other vehicles purchased by the Approved Customer) until all amounts owed (including fees and interest) are paid in full.
Pre-collection risk
6.1 Until risk passes under clause 3.2 or 3.3, Carma bears risk of loss or damage to the vehicle. Carma's liability is limited (at Carma's option) to repair, replacement with a comparable vehicle, or refund of the Purchase Price, and excludes any indirect or consequential loss.
Insurance
6.2 The Approved Customer must maintain transit and motor insurance appropriate for trade vehicles from the time risk passes, noting the interests of the Approved Customer and any financier.
As is, where is
7.1 Vehicles are sold on an 'as is, where is' basis for trade only. Descriptions, photos and condition reports are indicative only. To the extent permitted by law, all implied terms, warranties and conditions are excluded. Nothing in this Policy excludes, restricts or modifies any non-excludable rights under the Australian Consumer Law.
Title free of interest
7.2 On and from the time title passes under clause 3.1, Carma warrants it will pass good title free of security interests (other than any noted defects disclosed pre-sale). Carma may provide a PPSR search on request.
Odometer, WOVR & compliance
7.3 Where available, Carma will disclose known WOVR status, odometer rollbacks or major defects, but the Approved Customer must satisfy itself prior to bidding and collection.
| Item | Fee | |------|-----| | Storage fee (clause 4.3) | $40 per vehicle per calendar day after Collection Window | | Delivery arranged by Carma at the Approved Customer's request (clause 4.1) | Price upon request | | Delivery arranged by Carma for uncollected but paid vehicles (clause 3.3) | At cost, plus a collection service fee equal to 20% of transport costs |
Approved accounts only
9.1 The Approved Customer must only pay to the bank account shown on the Invoice. Carma will not request payment to any other account for the same Invoice.
Verification
9.2 Before making its first payment to Carma, or following any change in Carma's bank details, the Approved Customer must verify bank details with Carma by telephone using a known number (not numbers contained in the change notice).
No liability for unverified changes.
9.3 Carma is not responsible for losses arising from payments made to incorrect accounts where the Approved Customer failed to verify details as required.
Notification
10.1 Any dispute relating to payment, fees, collection or damage must be notified to Carma in writing within 2 Business Days of the relevant event (e.g., delivery, Invoice date or collection).
Escalation
10.2 The parties will promptly escalate to their respective senior representatives and use reasonable endeavours to resolve within 15 Business Days. If unresolved, either party may refer the dispute to mediation administered by the Australian Disputes Centre in Sydney.
Continued Performance
10.3 The Approved Customer must continue to comply with undisputed obligations while a dispute is being resolved.
11.1 Definitions.
In this Policy:
Accepted Bid means a bid accepted as successful by Carma via the Auction App and communicated to the Approved Customer;
Business Day means a day other than a Saturday, Sunday or public holiday in New South Wales;
Cleared Funds has the meaning in clause 3.1;
Collection Window has the meaning in clause 4.1;
Pick-Up Location means the location notified by Carma from time to time;
Purchase Price means the amount payable for the vehicle as per the Accepted Bid and Invoice.
Notices
11.2 Notices under this Policy may be given via the Auction App, to the Approved Customer's registered email, or as otherwise permitted in Carma Wholesale Platform Terms & Conditions.
Variation & waiver
11.3 A variation or waiver is effective only if in writing and issued by Carma.
Governing law
11.4 This Policy is governed by the laws of New South Wales, Australia. Each party submits to the non-exclusive jurisdiction of its courts.
Severance
11.5 If any provision is invalid or unenforceable, it is severed and the remainder continues in force.
Last updated: [ ] April 2026