Үйлчилгээний нөхцөл
Service terms
1.1. Contract type: Credit sale agreement on a vehicle
1.2. Registering as a customer: Paying a deposit of 3,000,000 mnt or its equivalent to Central Asian Road LLC will give the customer the right to receive a login and password and order a car. /Collateral for participating in the auction/
1.3. Selecting auction: Select from the contracted auctions of Central Asian Road LLC
1.4. Contract requirements: The customs clearance of the vehicle shall be done under the name of Central Asian Road LLC /Ownership/ International shipment shall be done by Central Asian Road LLC
1.6 Consignee name: The vehicle being shipped shall be addressed and shipped under the Consignee name. /Bill of lading, Railway bill/
1.7 Vehicle advance payment and term: 30% / 30% of the total price of the vehicle from the auction and FOB cost shall be paid in yen or equivalent tugriks within seven days after successful car ordering/
1.8 Balance of the payment and term: 70% /Central Asian Road LLC will pay the balance at the auction in yen and create an MNT loan to the customer at the rate paid/
1.9 Customs duties and taxes: Customs tax, VAT and excise tax. Central Asian Road LLC shall complete the customs clearance in its own name, pay the related fees in full, and shall issue a loan to the customer in the amount equal to tugrik.
1.10 Customs clearance: An authorized employee of Central Asian Road LLC will perform customs clearance.
1.11 Vehicle handover: When unpacking the container, the customer is responsible for the integrity of the car. /If the vehicle is not handed over in accordance with the relevant procedures, the customer shall be liable for any further damage and shall fully compensate for the damages./
1.12 Beginning date for the credit sale: The day of the vehicle customs clearance - By confirming the date purchase receipt
1.13 Monthly interest rate: 3%-3.2% / Calculated from the total outstanding payments and taxes. 30 days is considered one month/
1.14 Credit sale agreement term: 3-12 months /The credit sale agreement on a vehicle shall be closed within 90-360 days/
1.15 Transfer of vehicle ownership: The seller shall submit the following documents to the customer.:
· Power of attorney /3 notarized copies of power of attorney to sell or own the vehicle in the name of the customer/
· Official request to the National Road Transport Center of Mongolia / Request to transfer the vehicle to the customer’s name and issue a license plate/
· Vehicle registration document and Customs declaration /The original copy will be stored at Central Asian Road LLC and will be delivered within an hour after buying the car/
CAUTION: Original vehicle registration document and Customs declaration shall be issued only at the time of the sale to the final customer and vehicle must be paid within one day from the date of issuance. From the second day onwards, a penalty of 0.1% of unfulfilled obligations shall be charged. /
1.16 Transfer of ownership: Upon full payment of the balance of the vehicle, the ownership will be transferred.
1.17 Closing credit sale agreement: The loan is fully repaid when the remaining 70% of the vehicle is transferred in MNT amount /in yen at the exchange rate of the payment/+ total amount of tax + interest expenses.
2. Seller’s rights and responsibilities
2.1 By agreeing to the terms of this Service, you will grant the following permits and rights to Central Asian Road LLC.
2.1.1 The right to ship the vehicle you bought and won at the auction will be given only to Central Asian Road LLC.
2.1.2 The vehicle you bought and won at the auction will be transferred to Central Asian Road LLC or to a specially designated individual who then will be authorized to perform customs clearance.
2.1.3 The right to inspect, request and store information on documents proving your financial and purchasing power and loan repayment capacity, will be given to Central Asian Road L1.4 Central Asian Road LLC has the right to keep the deposit if the customer /unwillingness to buy the car, mistook information or unable to pay/ fails to take the successfully ordered.
2.1.5 If you do not repay the loan within the specified period, you will be given the right to confiscate, sell and repay the car, and the seller will be reimbursed for the damage caused by the advance payment made by the customer.
2.2 Central Asia LLC is obliged to use the information about the vehicle you are buying, personal and financial information for purposes no other than those specified in the terms of this service, not to disclose it to others, and to protect the confidentiality of information. Seller shall be fully responsible for any damages related to the disclosure of information.
3. Customer’s Rights and Responsibilities
3.1 By agreeing to this Terms of Service, the customer is granted the following rights.
3.1.1 Customer will be eligible for a loan of UP TO 70% of the purchase price of the vehicle you bought and won at the auction and transported by Central Asian Road LLC.
3.1.2 Customer will be granted a loan for the Customs payment of the vehicle you bought and won at the auction.
3.1.3 Customer will have a right to demand a breakdown of the loan repayment plan from Central Asian Road LLC.
3.2 By agreeing to this Terms of Service, customer will have following responsibilities.
3.2.1 When placing an order, the customer is obligated to acquire the complete information about the vehicle, such as the year of the manufacture, mileage, color defects and normal operation.
3.2.2 Customer is obliged to pay the invoiced amount of the advance payment to Central Asian Road LLC for the car that is bought and won at the auction within 7 days.
3.2.3 Customer is obliged to inspect and accept the integrity of the vehicle at the Customs-controlled area.
3.2.4 In case of damage caused by the Dealer due to the non-payment of the vehicle purchased at the auction within the specified time, customer is fully responsible for the damage.
3.2.5 Customer is responsible for storing the vehicle in the designated area and selling it to a third party.
3.2.6 Customer is responsible for any costs associated with the transfer of ownership of the vehicle.
3.2.7 Customer is obliged to pay the monthly interest with the total loan amount within 1 day after taking ownership of the vehicle.
3.2.8 If the loan cannot be repaid, the vehicle shall be handed over to Central Asian Road LLC without any disputes.