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Terms & Condition
Green Auction
グリーンオークション
グリーンオークション
The following rules (hereinafter called "Rules”) stipulate the terms and conditions regarding tender-type auctions and auctions conducted through the Internet (hereinafter called "Green Auction”), carried out or operated by Green Corporation Co., Ltd. (hereinafter "Auctioneers”). There Rules are applicable to both Auctioneers and all registered members of Green Auction (hereinafter called "Members”).
- 1. Rules & Qualifications
- 1.1 Green Auction is only available to individual persons registered as Members.
- 1.2 Membership registration:
- 1.2.1 Introduction or guarantee from other auction companies or manufacturers and traders conducting construction machine auctions are required for the registration.
- 1.2.2 Submit a membership application form by completing the required information.
- 1.2.3 Auctioneers will inform applicants regarding the result of their membership status via e-mail.
- 1.2.4 Applicants, who pass the examination and whom have not had prior business with Green Corporation Co., Ltd., shall provide an advance deposit of five hundred thousand Japanese Yen (JPY500,000) to Auctioneers.
- 1.2.5 When the transfer of the deposit is confirmed, a registered Member will be provided with a unique registered number. A User ID and Password will also be provided to access Green Auction internet auctions.
- 1.3 All displayed prices on Green Auction are in Japanese yen. All transaction must be made in Japanese yen.
- 1.4 The advance deposit amount will be deduced from the machine charge in case of a successful bid. In the case that no successful bids are made the advance deposit is retained to be used as a balance for Member future purchases from Auctioneers. Furthermore, we can refund the deposit less the banking charges should the depositor request us to do so. Should Auctioneers suffer a financial loss due to any violation of the rules concerning payment by the Member, then, the amount of loss will be deducted from the advance deposit. Please note however, that the amount of the deposit does not represent any limit on the required compensation amount in case of such loss.
- 1.5 Auctioneers reserves the right to revoke memberships at any time without prior notice. In particular Auctioneers will revoke membership for the following reasons:
- 1.5.1 The contents of application are fraudulent.
- 1.5.2 The existence of the applicant cannot be confirmed.
- 1.5.3 The applicant is considered ineligible to Green auction or credibility cannot be determined.
1.5.4 The applicant’s business activity is considered being in competition with Auctioneers or cannot be admitted into Green Auction for other reasons.
1.5.5 Participants who are found to be members or affiliated with any criminal or antisocial groups.
1.5.6 Concerning Applicants or Bidders who are Japanese domestic companies without the Used Goods Trading Permit (古物商許可証), auction participation may be refused or any purchase contract may be invalidated in case these Applicants or Bidders are involved in business activities falling under the Japanese law on trading of used items(古物営業法).
1.5.7 The applicant is considered as unqualified for participating in Green auctions.
1.5.8 Furthermore, should the violation be judged intentional and of bad will, the name of the defaulting bidder will be exposed on the homepages of Green Auction Co., Ltd.
- 2. The Procedure for Bidding
- 2.1 Tender Auction
- 2.1.1 Bidder shall fill in a Green Auction Tender Bid Form and submit it directly at auction site, or print out the form and fax it to Auctioneers office.
- 2.1.2 There is no limit for the number of bids during each auction time.
- 2.1.3 Once a bid is placed, the price tendered is unable to be cancelled or reduced, regardless of any reason.
- 2.1.4 Bids submitted at the auction site , Bid Form will be stamped on being received by Auctioneers, and a stamped copy will be hand back to the bidder. Bids submitted by fax will be stamped on being received by Auctioneers and the stamped form will be faxed back to the bidder. Bid Form without "Green Auction" stamp is invalid.
- 2.1.5 The bidder who offers the highest price becomes the successful bidder.
- 2.1.6 If two people or more offer the same highest price, the 1st bidder will be the successful bidder.
- 2.2 Internet Auction
- 2.2.1 Visit the Green Auction homepage, key in Member ID and password to log-in and take part in the auctions.
- 2.2.2 Check the auction list, and place your bids.
- 2.2.3 Standard Auction (characterized by its increasing price mechanism) where bids for offered equipment must be made above the stated Opening Bid Price or the next incremental amount in Japanese Yen within the stipulated deadline (Auction Close).
- 2.2.4 The equipment will be sold to the highest bidder for each item at Auction Close.
- 3. Terms of Payment
- 3.1 Successful bidder should complete the payment within 5 Japan working days after he/she received the confirmation letter of the successful bid and invoice.
3.2 Successful bid fee:
3.2.1 For successful bid which is less than five hundred thousand Japanese Yen (JPY500,000), successful bidder will need to pay a successful bid fees of 5% per lot.
3.2.2 For successful bid which is between five hundred thousand Japanese Yen (JPY500,000) to one million Japanese Yen (JPY1,000,000), successful bidder will need to pay a successful bid fees of ten thousand Japanese Yen (JPY10,000) per lot.
3.2.3 For successful bid which is above one million Japanese Yen (JPY1,000,000), successful bidder will need to pay a successful bid fees of twenty thousand Japanese Yen (JPY20,000) per lot.
3.3 Only T/T is accepted for the payment. (L/C and cash payment shall not be accepted.) All bank transfer fees are a successful bidder's accountability.
3.4 All displayed prices are in Japanese yen, which are the prices at the transfer of the item at the auction site. Consumption tax will be charged to domestic buyers.
3.5 The successful bidding amount shall not offset any payment to Auctioneers including the consigning fees for other machines.
3.6 If the payment of the price is not made within 7 Japan working day after a confirmation letter is sent, Auctioneers shall take one of the following two actions:
3.6.1 When Auctioneers deems it as a delay of payment, the successful bidder shall pay an overdue fine.
3.6.2 When Auctioneers deems it as a cancellation, the action defined in "5. Cancellation” below shall be taken
- 3.1 Successful bidder should complete the payment within 5 Japan working days after he/she received the confirmation letter of the successful bid and invoice.
- 4. Carry-out
- 4.1 The ownership of the purchased equipment shall be transferred to the successful bidder when the full payment is confirmed by Auctioneers.
- 4.2 Successful Bidders shall remove the purchased equipment within 2 weeks after the date of the bids of successful bidders is accepted. Successful bidders who delay in removing purchased equipment within the period successful bidder will need to pay a storage cost per unit (JPY1000 per day ).
- 4.3 The purchased equipment shall be transferred to the successful bidder at the auction site. The successful bidder shall pay for the fees for purchased equipment's transportation, delivery, washing, FOB charge, and others.
- 4.4 The successful bidder shall be liable for damages or losses caused by any reasons which may be incurred after the auction.
- 4.5 The successful bidder shall be liable for necessary repairs when the purchased equipment is carried out, delivered, or shipped.
- 4.6 The successful bidder shall be liable for any injury or accident related to carrying-out.
- 5. Cancellation
- 5.1 When Auctioneers deems the delay of payment as a cancellation, the successful bidder shall pay the penalty for the breach of contract, either JPY500,000 or 40% of the bid price of the subjected equipment (the higher price between them).
- 5.2 When Auctioneers deems the buyer as malicious, Auctioneers will cancel his membership, and may put his name in the Black List on Green Auction homepage to open to the public.
- 6. Registration Documents and Change of Title
- 6.1 For units with registration remaining (Or numbers affixed) the registration should be changed and evidence of this (A photocopy of the registration certificate) must be presented to Auctioneers within 2 weeks of the auction close. (Evidence of change of registration or de-registration)
- 6.2 Due to successful bidder own delays, and additional paperwork is required from consignors or Auctioneers, a penalty fee is applicable.
- 7. Export Control
- It is the responsibility of the successful bidder (Buyer) to take all necessary actions to comply with the import/export control laws and regulations of Japan and the destination countries and areas so that the purchased equipment shall not be used for the development and/or transportation of the mass destruction weapons etc.
- 8. Warranty
- 8.1 Every item is sold "AS IS WHERE IS" .
- 8.2 The purpose of the condition report is just for reference. There are no guarantees to the condition of machines (including model-year, working hour, etc.)
- 9. Right to Cancel any Bid and the Contract
- Auctioneers retain the right to cancel the acceptance of bids and contracts without any prior notice.
- 10. Auction Yard Safety
- The bidder acknowledges that the Auction Yard is a potentially dangerous place. Heavy equipment is being operated, potentially dangerous materials may be present, electric circuits may be live and other potential dangers may be present. Every person at the Auction Yard (and any other area where the property is located or displayed) shall be there at his or her own risk. No person shall have any claim against the Auctioneers and its partners and employees neither for any personal injury sustained or death nor for damages or loss of property that may occur from any causes whatsoever.
11.Governing Law and Alteration Rights- 11.1 The membership cannot be sublet or transferred to the third party.
- 11.2 Auctioneers reserve the right to suspend the participation in Green Auction of those whom Auctioneers deems would interfere with the auction without prior notification.
- 11.3 Auctioneers may revise these rules from time to time as the need should arise.
- 11.4 Issues and problems that are not stipulated by the rule shall be resolved through discussion between Auctioneers and the Members concerned for a compromise acceptable to all.
- 11.5 These rules shall be constructed and governed by the Japanese law and Tokyo District Court shall be the first trial court when any dispute should occur.
