April 19, 2021 10:26 PM | Total Cars: 48

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Our Standard Terms of Business are mentioned below:

1) In case of sale of the vehicle or winning the vehicle in an auction bid, unless otherwise stated, the vehicle is reserved for three (3) business days.

2) In either case, a minimum of 50% payment will be required within the reservation period.

3) The vehicle reservation will be automatically cancelled if the buyer fails to pay the dues within the reservation period.

4) The shipping Procedure will begin once we receive the payment and all the required documentation is completed. The sale and auction documents contain all the associated terms & conditions. All these terms & conditions are supposed to be agreed upon by the buyer.

5) We send all the associated documents to the buyer through courier as soon as we received full payment.

6) In case of payment through a letter of credit, the associated L/C information must be provided to us so as we initiate the shipping process. Kindly note that we don’t accept a letter of credit from all the countries, rather this facility is available for a few selected countries.

7) Similarly, in case of payment through TT, a scanned TT copy will be required after payment is processed in order to avoid any delay of shipping or document preparation.

Our Standard Terms of Shipping are mentioned below:

1) FOB (Freight on Board): FOB stands for Freight on Board. It includes the cost of the vehicle excluding the associated ocean freight. If the buyer buys the vehicle at FOB (Freight on Board) price, then the price includes the cost of the vehicle and all other associated expenses in terms of documentation, port charges, government fee and taxes (if applicable). It does not include expenses involved in shipping the car from the country of origin to the destination country.

2) CFR (Cost and Freight): CFR stands for Cost and Freight. It includes the cost of the vehicle including the associated ocean freight. If the buyer buys the vehicle at CFR (Cost and Freight) price, then the price includes the cost of the vehicle and expenses involved in shipping the car from the country of origin to the destination country associated with all the expenses in terms of documentation, port charges, government fee and taxes (if applicable).

3) CIF (Cost, Insurance and Freight): CIF stands for Cost, Insurance and Freight. It includes the cost of the vehicle, ocean freight and vehicle insurance. If the buyer buys the vehicle at CIF (Cost, Insurance and Freight) price, then the price includes the cost of the vehicle and expenses involved in shipping the car from the country of origin to the destination country associated with all the expenses in terms of documentation, port charges, government fee and taxes (if applicable) as well as Insurance of the vehicle. This is the widely used method of buying vehicles in order to avoid all the associated risk factors. The buyer is required to inform us at the time of buying a car if they are looking for insurance for their vehicles for the sake of safe delivery of their vehicles to their destination country.

4) T/T (Telegraphic/Wire Transfer): This is the best way of making payments. It is considered the fastest, safest and most effective mode of making payment transactions. Almost all the major banks provide this service of payment transactions.

5) L/C (Letter of Credit): We don’t accept a letter of credit from all the countries; rather this facility is available for a few selected countries. Kindly contact your nearest bank in order to initiate the Letter of the Credit process.