Veri-Point™ Promise

Terra Point, LLC (“Terra Point”) offers its Veri-Point™ Promise program to help provide both Buyers and Sellers assurances in buying and selling Equipment listed on Terra Point’s websites (“Sites”).  The following policy sets forth the practices and procedures of the Veri-Point™ Promise program:

  • Equipment listings containing the Veri-Point™ Promise icon have gone through a general condition inspection ("Inspection") of the Equipment.
  • Every inspected piece of equipment is accompanied by an Inspection Report which includes ratings, comments, and photos of the various components of the equipment.
  • Terra Point can only report what can be visually observed. Veri-Point Inspection Reports are for the sole purpose of reporting the visible condition of the equipment's major systems and if applicable any attachments at the time of Inspection. The Inspection Report is the sole property of Veri-Point and is for your personal use only and may not be displayed, published, sold, reproduced, disseminated or otherwise distributed by you without the prior written approval from Veri-Point.
  • Drivetrain operational tests are limited to low speed in a confined flat area without load. Differential interlocks, full transmission shifting and functionality of all drive axles cannot be fully verified. Inspector listens for abnormal noises, observes leaks and notes physical damage. Veri-Point Inspections do not include load testing or digging/lifting.
  • Veri-Point Inspections are NOT intended to detect latent or hidden defects or conditions that require dismantling the equipment or use of equipment or techniques to diagnose. 

By using the Veri-Point Promise program you acknowledge and agree that Terra Point is not liable for failing to identify latent or hidden defects or conditions described above.

Veri-Point™ Promise Dispute Resolution

In the event that a piece of Equipment purchased by you is not substantially in the condition represented within the Inspection Report, you may contact Terra Point and submit a written dispute ("Claim") to Terra Point. To be considered, the Claim must be (i) in writing, (ii) within the Eligible Claim Period (as defined below), (iii) emailed to Terra Point at disputes@terrapoint.com , and (iv) satisfy the Conditions below. A $700.00 deductible will be applied to any settlement of a Claim.

  • Eligible Claim Period. For a Claim to be considered, without penalty, you must review the equipment and submit a Claim prior to (i) the conclusion of fourteen (14) days from the date of the sale; (ii) removal of equipment from the Seller's location; and (iii) disassembly of equipment from its "as-inspected" configuration by you or your agent, including disassembly for transport. Disassembly of equipment shall foreclose Buyer from utilizing the Veri-Point™ Promise Dispute Resolution Claim process.
  • Post-Eligible Claim Period. Claims submitted following the Eligible Claim Period and within thirty (30) days of the sale of the equipment will be considered, but subject to a penalty (equal to 55% of the final resolved value of the equipment).
  • Any Claim submitted after the thirty days from the sale of the equipment will not be considered, with or without penalty.

Buyer may elect at any time during the Claim process to waive any resolution and resell the item through Terra Point at the cost of the deductible. During the pendency of a Claim, equipment may not be used or altered in any way.  Buyer’s transfer of ownership of the equipment to another shall foreclose utilization of the Veri-Point™ Promise Dispute Resolution Claim process by Buyer.  Adjudication of all Claims shall be in Terra Point’s sole discretion, and Terra Point’s determination shall be final. Any refund awarded to Buyer shall be remitted in the same manner in which Buyer submitted payment.

Claim Conditions

In addition to the foregoing eligibility requirements, Buyer must have provided full payment of the equipment including the applicable Transaction Fee, Final Selling Price, and any associated taxes to participate in the Veri-Point™ Promise Dispute Resolution process.  The equipment must be available for immediate re-inspection by Terra Point upon request, with any requested documentation provided to Terra Point within five (5) days of such request. Equipment sold at a price of less than $700.00 is excluded from coverage under the Veri-Point™ Promise program. The estimated total cost to fix items pursuant to a Claim must exceed $700.00 for coverage, which amount shall be applied as a deductible to any settlement of a Claim.  Any conditions that are visible in the Inspection Report pictures (including the full-size image visible through zooming), changes in equipment condition as a result of exposure to the elements (including damage that occurs during transportation), insubstantial inaccuracies in the Inspection Report, conditions that can be identified only through the operation of a machine on a job site or under load capacity (e.g., digging, pulling, lifting, etc.), and cosmetic damage which does not impact the performance or standard operation of the equipment are excluded from coverage.

Disclaimers

Terra Point shall not be responsible for the following:

  • Any incidental damage which does not negatively impact the value or standard operation of equipment.
  • Claims filed due to changes in equipment condition as a result of exposure to the elements, including but not limited to failure of electronic control modules for systems or components, electronic displays, or consumables (e.g. batteries, fluids, lights, belts, tires, brakes, bulbs, starters, alternators, Freon and filters).
  • Equipment operating manuals or keys.
  • Any conflicts in model year, make, and model from alternative sources in the marketplace.
  • Representations pertaining to the actual hours/miles on Equipment.