Thank you for accessing the website of Estec Co Ltd.
Following Member Terms and Conditions apply to every transaction between members and Estec Co Ltd, and by using the website you signify your acceptance of these Member Terms and Conditions and agree to be bound by the latest version in full. Please read through the latest version of these Member Terms and Conditions when using this Website.
The terms used in these Member Terms and Conditions shall have the following meanings, unless otherwise specified.
(a) 'Estec' refers to the Estec Co Ltd.
(b) 'Service' refers to the services provided by Estec specified in 1.2 of these Member Terms and Conditions.
(c) 'Website' refers to this website operated by Estec for the purpose of providing this Service.
(d) 'Member' refers to legal entities or individuals who desire to use this Service through this Website, and acquired membership qualification of the Website in accordance with procedures stipulated in 2.1. of these Member Terms and Conditions.
(e) 'Seller' refers to the owners of Products or Auctions who selling Products.
(f) 'Product' refers to used vehicles, spare parts and accessories, construction machinery, forklifts, motorcycles and other items provided to Members from Estec through this Website.
(g) 'Security Deposit' refers to the money paid to Estec by Members as a fee for bidding in auction.
(h) A 'business day' refers to a business day of Estec.
Estec offers following services to Members.
1) Posting Products information to the Website, and selling them through Current Stock and Ongoing Auctions.
2) Delivery/shipping of Products per Members request.
3) Other services related to the above.
1. Every item is sold “AS IS/WHERE IS”
2. The Product information provided through this Website is broadcast from the Sellers’ stock or auctions without warranties or guarantees by Estec.
3. Equipment photos have been prepared to show the conditions of the equipment as clearly as possible. However, they cannot necessarily cover everything, needless to say oversights of malfunctioning places. If you are concerned about any specific part of equipment, please be sure to contact us before bidding.
4. The Condition Reports merely shows the results of the assessment of the equipment made according to our standard rules. Please note that the contents of the report do not guarantee the condition including the hours of operation. If you have any questions, be sure to ask us prior to bidding.
1. Legal entities or individuals who wish to use this Service through this Website, shall obtain membership qualifications after registering according to following procedures.
1) Agreeing to be bound by these Member Terms and Conditions.
2) Completing Registration by accurately filling out the required fields of the Registration page.
2. Passwords can be set and managed by Members.
Members who wish to use the Service could be requested to submit documents specified by Estec and undergo screening before using the Service.
This screening shall require one business day, and if as a result, the Member receives a notice of ineligibility for using the Service, Member cannot make any objections.
Members are responsible and committed to following obligations:
1) To faithfully fulfill obligations and duties as per these Member Terms and Conditions and instructions from Estec.
2) To provide accurate and true information to Estec for using the Service.
3) To promptly report to Estec about any changes to the information provided.
4) To take full responsibility in handling their login information and password with duty of care.
1. Members who fulfill one of the following conditions will be granted Auction bidding qualification.
1) Buying 1 Product visiting Japan by Estec Invitation, paying for it within due date, and payment confirmation in Estec designated bank account.
2) Paying a Security Deposit of 100,000 Japanese yen to the bank account specified by Estec, and payment confirmation in Estec designated bank account.
2. Members can use the Security Deposit mentioned in preceding paragraph for payment of the Products and fees.
3．The Company shall refund the deposit paid by the Member in 15 working days if purchasing on auction was not successful.
1. In case any of the following stipulated conditions apply to Members, Estec reserves the right to suspend a Member from bidding in the Auction without any notification in advance.
1) If the Member cancels the purchase for their own reasons after successful bid on a Product in Auction.
2) If payment of the purchased Product fees is delayed.
3) If the Member does not pick up the purchased vehicle within allowed storage period.
4) In case if the delivery / pick up of the Product period has been exceeded due to the Member’s own reasons.
5) If Estec deems a Member's actions, etc. inappropriate.
2. Even if a Member is suspended from bidding in Auction due to reasons in preceding paragraph, bidding qualification can be reacquired upon confirmation of the following payments:
1) Cancellation Penalty stipulated in 7.1. (c) of these Member Terms and Conditions;
2) Payment Delay Penalty stipulated in 7.1. (b) of these Member Terms and Conditions;
3) Pick-Up Delay Penalty stipulated in 7.1. (a) of these Member Terms and Conditions.
1. Members are considered to be confirming their purchase intention of the Product by clicking on 'Make a bid' button of Auction bidding page.
After bidding, Members cannot, by principle, withdraw the bid or change the bid price.
2. The sales contract for the Product shall officially be considered established when an e-mail notifying the Member of the establishment of a sales contract is sent from Estec after the conclusion of the Auction.
3. The sales contract for the Product shall not be considered officially concluded if any notification method other than that stipulated in the preceding paragraph (verbally, fax, e-mails other than the sales contract notification e-mail) is used.
4. In case the Auction stops before the scheduled time due to unavoidable reasons such as computer system malfunction, Estec will take either of following actions in its sole discretion. Additionally, Members may not file any objections whatsoever regarding the actions taken.
1) Granting purchase rights to the highest bidder at the time the Auction stopped.
2) Re-starting the Auction.
5. Other details about how the Auction is run are as per indications in 'How to Bid'.
Every Member shall be granted the qualifications to make an offer for a Product listed on the Stock List.
In case any of the following conditions apply to Members, Estec reserves the right to revoke purchasing rights without prior notice.
1) If the Member withdraws offer after the Product has been removed from the Stock List.
2) If the Member is judged to have made offers without purchase intention multiple times.
3) In case any of the conditions stipulated in 3.2.1 of these Member Terms and Conditions applies.
4) If Estec deems a Member's actions, etc. inappropriate
1. The price displayed on the Current Stock List is a reference price set by Estec, and Members may make offers at a price higher than that.
2. Even if Members make offers at the same price as the price displayed on the stock-list, it will not guarantee the purchase of the Product.
Members' eligibility for purchasing Products and Products' prices are basically set by below criteria.
1) In case of multiple Members with offers of same or higher than Stock List price: Highest offered Member shall purchase the product.
2) In case of multiple Members with same amount highest offers: Earliest offered Member shall purchase the product.
3) In case of multiple offers from same Member on same Product: Latest offer amount shall be sales price.
3. Other details about purchasing methods are as per indications in 'How to Order'
1. The prices displayed on the Website lists are unit prices for only the Products themselves, and Members shall also pay Sales Commission at the time of purchase.
2. Sales Commission is 13% of the winning bid.
1. Members are considered to be confirming their purchase intention of the Product by clicking on 'Make a bid' button of Auction bidding page or Stock Lists offer page.
2. The sales contract for the Product shall officially be considered established when a sales contract e-mail is sent by Estec to Members after a successful bid or offer has been received.
3. The sales contract for the Product shall not be considered officially established if any method other than that stipulated in the above paragraph (verbally, fax, e-mails other than the sales contract notification e-mail) is used.
1. Members shall make payment for the Product fees (total invoiced amount) by bank transfer to the bank account specified by Estec within five (5) business days of the establishment of a sales contract. All transfer and bank charges shall be paid by Members.
2. After payment of the Product has been made, Members shall send a copy of the bank transfer receipt to Estec by fax or e-mail. Also, the stock number of the Product and the Member's ID should be clearly visible when sending via fax or e-mail.
Moreover, Estec does not take any responsibility if the confirmation of the money is delayed due to the fact that the member is not specifying the stock number of the unit or the member ID or if they are wrong.
3. After establishment of sales contract, the payment should be done within 3 business days (remittance procedure). In case if the payment is not done on the specified date by Estec, a penalty will be issued.
4. After establishment of the sales contract, if the payment is not confirmed within 7 business day, Estec will terminate the sales contract without prior notice and a penalty will be issued.
5. Payments for the Product fees shall be made by bank transfer by principle. However, payments by Bitcoin and PayPal are also accepted. For PayPal payments the amount of the invoice should be 500,000 Yen or less.
1. Payment of Product fees shall be made in money (either Japanese yen or US dollars). Additionally, for payments made in US dollars, the payment amount shall be calculated at Estec Rate, which is 1.50 yen higher than the TTB rate of the date of the sales contract.
2. In addition to money, Members may also use deposits as a form of payment currency.
1. Ownership of the Products shall be transferred from Estec to Members at the points indicated below:
1) For Members residing in Japan: When the Product is passed on to the Member at a specified location in Japan;
2) For Members residing outside of Japan: When the Product is loaded on the ship.
3) For Members residing outside of Japan with a designated proxy in Japan: When the Product is passed on to a designated proxy at a specified location in Japan.
2. After the ownership has been transferred to Members, Members shall incur any risks associated with the Product, including damage, theft, etc.
3. When transfer of the ownership of the purchased equipment cannot be implemented, and therefore, delivery of the equipment cannot be conducted, Estec consults with the successful bidder and returns the purchase price of the equipment and the contract shall be cancelled.
1. Members may request Estec to change trade terms or destination for the Product's invoice free of charge only once per one Product.
2. If Members request Estec to change trade terms or destination for the Product's invoice more than once per one Product, 5,000 Japanese yen (taxes excluded) will be charged per request.
Members cannot, by principle, cancel the sales contract.
However, if a Member requests to cancel a sales contract within two (2) business days after it has been issued, the sales contract may be cancelled.
In such cases, Estec shall charge a cancellation penalty to the Member as stipulated in 7.1. (c) of these Member Terms and Conditions.
Estec has the right to notify any Member ineffectiveness of his/her bidding and to cancel any contract at any time, when problems including but not limited to the following take place:
Eg.
1) Delayed or unreceived bidding due to communication conditions on either side of Member and Estec
2) Discovering erroneous data of the entry equipment
3) Inability of the equipment delivery due to the inability of the ownership transfer of the purchased item
Estec will discuss, with the Member when necessary, the inappropriateness of the Condition Report or defects found on the purchased equipment, however, Member is requested to agree to Estec’s final decision.
1. Members shall make an appointment by at least one (1) day prior to pick up day.
2. In case if the product hasn't been picked up from the yard within the time specified by Estec, a penalty will be issued.
1. If Members wish to receive the Product at a place other than seller’s yard, they may use transport/shipping services for a fee.
2. If the shipping of the product is not made in time due to member’s own reasons, a penalty will be issued.
1. The fees for transport, shipping, and pick up at seller’s yard are specified separately by Estec.
Further, the transport/shipping fees listed on this Website are for reference purposes only. The invoice indicates the final fee.
2. Members shall, by principle, determine transport/shipping method and destination at the time of purchase of the Product, and shall pay these fees along with the Product fee.
1. Estec shall make arrangements for the transport/shipping for the Product, after Estec confirms payment of the service fees.
2. In case Estec make arrangements for shipping, Estec shall notify Members of the shipping schedule, such as the arrival date of the Product, when it is confirmed. However, Members shall understand that the schedule may be subject to change without prior notice.
3. Products cannot be returned to Estec in case Member provides incorrect delivery address, or if the recipient is absent at the time Product has arrived at the location specified by the Member. The costs for re-delivery shall be borne entirely by the Member.
Chapter 7 Penalties and Claims
(a) Pick Up Delay Penalty
In case if the product hasn't been picked up from the yard within the time specified by Estec. Applies to each subsequent 5 business days.
Penalty amount: 10,000 JPY
(b) Payment Delay Penalty
In case if the payment cannot be confirmed within 5 business days. Applies to each subsequent 5 business days.
Penalty amount: 10,000 JPY
(c) Cancellation Penalty
・In case of cancelling a sales contract by Member request.
・If the payment of the Product fees is not confirmed within 15 business days since sales contract is issued.
・If the member cancels a product after a successful bid in the auction.
Penalty amount:
1) 100,000 JPY, for Products with unit price of below 1,000,000 JPY
2) 10% of unit price, for Products with unit price of 1,000,000 JPY or higher
(d) Maliciousness Penalty
If Estec deems a Member as malicious, Estec may terminate his/her membership, and may expose his/her name to public view in the Blacklist on Website.
1. Estec reserves the right to change these Member Terms and Conditions, in part or in whole, as needed upon providing advance notice to Members.
2. Changes to these Member Terms and Conditions shall take effect upon the posting of the changed Terms and Conditions to this Website, and shall replace the previous Terms and Conditions.
Members who use this Service after these changes have been made are deemed to agree to the changed Terms and Conditions, and cannot assert ignorance of said Terms and Conditions.
3. Estec shall bear no responsibility if Members incur direct or indirect damage or loss by the changed Terms and Conditions.
The laws and regulations of Japan shall apply to the interpretation of these Guidelines.
Any dispute regarding this Service shall be settled under the exclusive international legal jurisdiction of Japan, and the Tokyo District Court or the Tokyo Summary Court shall have the primary and exclusive jurisdiction over such.
