Bid & Purchase Reserve Policy

1. Purchase Reserve Requirement

Before any bid is placed, the customer must pay the required Purchase Reserve. The Purchase Reserve protects the bidding and settlement process and may be applied toward the vehicle purchase, auction settlement, auction fees, route-specific handling costs, penalties, losses, transport, storage, documentation, and other actual costs.

2. Purchase Reserve Amount

The Purchase Reserve amount is determined separately for each request. It may be calculated using the approved maximum bid, estimated auction fees, estimated handling costs, estimated transport costs, CarBike Japan fees where applicable, bank fees, exchange-rate risk, and an appropriate cost buffer.

The Purchase Reserve is not necessarily the final total amount payable by the customer.

3. Bid Approval

CarBike Japan will not place a bid unless the customer clearly approves the target vehicle, maximum bid amount, estimated costs, Purchase Reserve requirement, vehicle information, available auction information, and relevant bidding conditions in writing.

Bid Approval confirms that the customer understands that a successful auction bid creates a binding purchase obligation and that cancellation is not accepted as a general rule.

4. Payment Deadline

Payment must be received by 15:00 JST on the business day before the auction unless otherwise confirmed in writing by CarBike Japan.

Payment proof, a transfer receipt, or confirmation that funds have been sent does not mean that funds have been received. If payment is not confirmed by the deadline, no bid will be placed.

5. Bidding Conditions

Bids will be placed only within the approved conditions. These conditions may include the target vehicle, auction venue, maximum bid amount, bidding timing, estimated cost range, vehicle condition information, and any specific instructions confirmed before bidding.

CarBike Japan does not guarantee that a bid will be placed, that a vehicle will be successfully purchased, or that the winning price will equal the customer’s maximum approved bid.

6. Vehicle Condition and As-Is Purchase

Vehicles are sourced and purchased on an “as-is, where-is” basis using the auction sheet, inspection information, photographs, and other information available before bidding.

CarBike Japan does not add any profit margin to the vehicle purchase price.

Used vehicles may have wear, deterioration, previous repairs, accident or repair history, corrosion, missing parts, mechanical issues, electrical issues, warning lights, fluid leaks, abnormal noises, mileage discrepancies, or other visible or hidden conditions that may not be identifiable before purchase.

Before providing Bid Approval, the customer must review the available auction sheet, inspection information, photographs, vehicle description, condition grade, mileage information, estimated costs, and other available information.

After Bid Approval and a successful auction purchase, complaints, returns, refunds, price reductions, compensation requests, or cancellations relating to the vehicle’s age, condition, quality, defects, repair history, mileage, performance, or fitness for a particular purpose are not accepted, except where required by applicable law or where CarBike Japan has acted intentionally or with gross negligence.

CarBike Japan does not guarantee the accuracy or completeness of auction sheets, inspection reports, photographs, mileage records, condition grades, vehicle descriptions, or other information prepared or supplied by auction venues, inspectors, sellers, or other third parties.

7. After a Successful Bid

After a successful bid, cancellation is not accepted as a general rule. The customer is responsible for the approved vehicle purchase and the associated auction fees, penalties, route-specific handling costs, inland transport, storage, documentation, export preparation, exchange-related costs, bank fees, and other actual costs.

Any amount exceeding the Purchase Reserve must be paid by the deadline specified by CarBike Japan.

8. Use of Purchase Reserve

The Purchase Reserve may be applied toward the vehicle purchase, auction settlement, auction fees, route-specific handling costs, inland transport, storage, documentation, bank fees, penalties, resale losses, administrative costs, or other actual costs connected to the approved bid and purchase process.

9. Unsuccessful Bid

If the bid is unsuccessful, the Purchase Reserve may be carried forward to another approved vehicle or returned at the customer’s request.

Bank fees, transfer fees, currency-conversion losses, and actual costs already incurred may be deducted from the refundable amount. No sourcing fee is charged solely because a bid was unsuccessful, unless otherwise agreed for a separately performed service.

10. Customer Failure to Proceed

If the customer fails to pay the outstanding balance, provide required information, arrange export, accept delivery, or otherwise proceed after a successful bid, the Purchase Reserve may be applied toward auction fees, cancellation penalties, resale losses, price differences, storage fees, transport costs, administrative costs, bank fees, and other actual costs or losses.

11. Auction Cancellation Procedures

Some auction venues may permit cancellation only within a limited period and subject to a cancellation fee or other conditions. CarBike Japan is not required to request or accept cancellation merely because an auction venue may offer a cancellation process.

Whether to request cancellation is determined by CarBike Japan based on timing, auction rules, costs, risks, payment status, and other relevant circumstances. All related fees, penalties, losses, and actual costs are the customer’s responsibility.

12. Legal Limitations

Nothing in this policy excludes or limits responsibility that cannot lawfully be excluded or limited. The limitations in this policy do not apply where CarBike Japan has acted intentionally or with gross negligence.

13. Contact

For questions about this policy, please contact info@carbikejapan.com.