Ocean Trade – Refund Policy
The following usage agreements sets the terms and conditions for use or the services provided on this website (hereinafter referred to as “the Service”), between Ocean Trade Co LTD. (hereinafter referred to as “the Company”) and registered users (hereinafter referred to as “users”.
For terms and conditions related to the purchases, please refer to the relevant sales terms and conditions.
The following terms and conditions apply to any use of the service between the company and users.
1. Advance Payment Policy
Customer advance/deposit payments are used for vehicle bidding and purchase processing.
If the vehicle is not successfully purchased at auction, the customer may:
- Keep the balance for the next bidding/order, or
- Request a refund of the remaining amount.
2. Refund & Cancellation Policy After Vehicle Purchase
Once a vehicle has been successfully purchased from auction, the payment will be considered final and non-refundable.
If a customer still requests cancellation or refund after purchase, the following conditions will apply:
- All expenses related to the vehicle purchase process must be paid by the customer, including:
- -Auction fees
– Inland transportation
– Documentation charges
– Inspection charges
– Bank/transfer fees
– Any other operational or processing costs
The vehicle will then be resold through auction or local market sale.
If the vehicle is sold at a lower price than the original purchase amount, the loss/difference will be deducted from the customer’s balance.
Additionally, up to 20% extra deduction/service charge may apply from the remaining refundable amount.
Final refundable amount will only be calculated after all expenses, losses, and applicable charges are adjusted.
3. Agreement
By confirming a purchase through Ocean Trade, the customer automatically agrees to all refund, cancellation, and deduction terms mentioned above.