Who is responsible for providing the value of the additional collateral?
While we have access to several good web sites and other sources for determining the value of construction equipment, titled vehicles, and some other types of equipment, we can’t always locate satisfactory value information. Therefore, the Broker working with the client is responsible for providing acceptable value documentation to us. The best source for this information is often the client since they purchased the equipment and can identify the best places to look. Also, keep in mind that we are looking for auction values – not retail values.
