Terms and Conditions

Terms and Conditions

Prior to purchasing online we ask that you send a minimum deposit of 50% of the value of the vehicle. We estimate that a period of no more than 2 weeks will be required to purchase your vehicle. Once the purchase has been confirmed we ask that the remaining balance be paid in full prior to shipment. If you purchase from our stock we ask that you make full payment upon confirmation within 4 days and send proof of payment by fax or email. If the confirmation amount is not received in this time period the vehicle in our stock can be sold to other customers without notice. Vehicles will not be shipped unless full payment has been received. Once payment has been received the process to ship the vehicle starts. The length of the voyage varies from region to region and can be anywhere from 2 weeks to 2 months. Vehicles that are purchased from our stock are usually ready for export immediately.

Vehicles purchased through auctions will require a 1 week to 10
day period to deregister the vehicle before making arrangements to ship. This period can be shorter but the auction is given a 1 week time frame to send documentation in accordance to the auction rules. Purchasing from local dealers and wholesalers will also require some time for deregistration. We have shipped to over 40 countries and are well acquainted with shipping lines and the different procedures that go along with each region. However TERATERA Co. does not take responsibility for vehicles that are ordered by a customer and that will not comply or meet the countries standards upon arrival in that country. The importer is responsible to check with the local governments and proper authorities to know what can and can not be imported to their country. We can assist with advice and give only second hand information as to the rules and regulations of the country that the customer would like to import their vehicles to. All vehicles sold are used
vehicles and therefore are sold in “as is” condition without warranties or conditions. TERATERA Co. retains full ownership of the vehicles until full payment is received.

There are two sales methods at TERATERA Co. They are FOB (Free On Board) and C&F (Cost & Freight). FOB meaning that the vehicles are shipped freight collect. C&F meaning that the vehicles are shipped freight prepaid. The country you require vehicles for will determine the sales method. Vehicles sold FOB are calculated by adding the vehicle cost and “Agent Fee” (for agent fee details please contact your TERATERA representative). The Bill of Lading for the vehicles sold FOB will state “Freight Collect”. Agent Fees are inclusive of the following charges:

Auction fees charges
> Inland transport charges
> Japanese Customs clearance charges
> Vehicle de-registration charges
> Federal Express charges for sending documentation
> Agent representation fee

For larger vehicles such as buses, box body trucks, etc. extra charges will apply due to higher inland transfer fees and higher customs clearing charges. Customers purchasing vehicles FOB are subject to paying the vehicle freight charges, duties, clearance charges, and any other relative charges to importing a vehicle to that country. Separate invoices for car cost and agent fees can be arranged upon request, otherwise one FOB invoice will be issued. Vehicles sold C&F are calculated by adding the FOB price and the shipping costs. The freight charge is prepaid in Japan. The Bill of Lading for the vehicles sold C&F will state “Freight Prepaid”. We do not insure the vehicles unless the customer specifically requests Marine Insurance. For customers who require insurance, quotes are available. Insurance charges will be charged to the customer’s account on a “single shipment” basis. TERATERA Co. always recommends insuring the vehicles.

Payment terms when paying by telegraphic transfer are the same regardless of the sales method. Vehicles can only be cleared with original documentation, which will be sent by Federal Express. All documentation will be sent together for each individual shipment. There is a 100,000 yen cancellation fee charged for any vehicle that is confirmed and later cancelled. When making payment by Irrevocable Letter of Credit at Sight we ask that the Letter of Credit be in our possession 7 days prior to shipment. The Letter of Credit should be for the entire amount of the invoice. The customer is responsible for paying all related charges to the Letter of Credit. If the Letter of Credit is not received in advance the vehicles will not be shipped. Payment by PAY PAL is also accepted but some additional charges will apply.

NOTE :These terms must be accepted prior to purchasing any vehicles from TERATERA Co. Purchase of any vehicle or vehicles indicate that all terms and conditions are accepted.