How it works
General Provisions
Transactions performed by a Buyer and Seller on the AMG SHIPPING LTD site, shall be governed by the Uniform Electronic Transactions and the London Financial Code governing Escrow Regulations. A person or entity offering personal vehicle for sale, and desiring to use the AMG SHIPPING LTD site in order to close such a sale, shall hereinafter be referred to as “Seller”. A person or entity desiring to purchase personal vehicle from a Seller, by use of the AMG SHIPPING LTD site for completing the purchase shall be referred to as “Buyer”. The use of the AMG SHIPPING LTD site (by the Buyer and Seller) for purposes of effectuating a single escrow transfer of ownership of personal vehicle shall be referred to as a “Transaction”. The completion of the Transaction by Buyer and Seller is referred to herein as the “Close of Escrow”. A Buyer and Seller may enter into a Transaction for the sale and purchase of vehicles. Funds deposited into AMG SHIPPING LTD by the parties shall be referred to as “AMG SHIPPING LTD Escrow Funds” Buyer and Seller should each check with AMG SHIPPING LTD daily and regularly to confirm the status of the Transaction, the shipping and tracking and/or the Closing. The time of day and calendar day for all matters and events referred to in these Instructions will be determined by Pacific Time. All communications of any kind, for any purpose shall be made in the English language. It is the responsibility of Buyer and or Seller to each know and understand the English language. Any party who requires interpretation to or from the English language for the purpose of making or receiving any communication, relating to these Instructions, shall be responsible for any of his, her or its own respective costs in that regard. The term “Business Day” shall refer to the working days Monday through Friday between the hours of 8:00 AM and 6:00 PM. UTC, which are not legal holidays in London observed by AMG SHIPPING LTD.
1. Instructions and Deposit of Funds into AMG SHIPPING LTD
Once the Buyer and Seller have agreed to identical transaction details for a specific underlying transaction, and both have agreed to these General AMG SHIPPING LTD Instructions, these instructions shall constitute a binding agreement between all parties.
AMG SHIPPING LTD will provide the payment details and the Buyer will pay using a secure payment method chosen by AMG SHIPPING LTD. Once we receive the funds, we will secure it and notify Seller and Buyer. Buyer can cancel the transaction at any transaction moment, for any reason. AMG SHIPPING LTD is obligated by the law to refund the payment to the Buyer as soon as possible and not later than 24 hours.
AMG SHIPPING LTD covers Buyers who complete a transaction for the following types of deliberate and material misrepresentation by the seller:
- Purchase of a vehicle that it never received;
- The vehicle doesn’t accord to its listed description;
- Paying for the vehicle and not receiving it;
- Paying for the vehicle and receiving a stolen one;
- Paying for the vehicle and receiving it with undisclosed damage;
- Paying for the vehicle and receiving it with an undisclosed lien against it or any other kind of debts or bank liabilities;
- Receiving a V5 that is not signed, is improperly assigned, or receiving a V5, but not being able to register the vehicle;
Note: If we have the vehicle is one of our storage facilities, you have the peace of mind the vehicle has been verified by us before accepting it. That means we have checked the vehicle condition, the title and the mileage.
3. Shipping and Tracking of vehicle
Upon receipt of Buyer’s funds, and clearance of same, AMG SHIPPING LTD will notify Seller to ship the vehicle. This notice to Seller shall be accomplished via email which will require the Seller to regularly check the email, unless all parties lawfully agree to a different method of notification. Upon Seller’s verification, Seller agrees to ship the vehicle, insured for full value to Buyer. Buyer and Seller agree to choose a shipping method that utilizes online tracking information. Seller shall ship the vehicle to Buyer based upon information provided by the Buyer(delivery address). Seller will be responsible for shipping damage if insurance is not purchased. The Seller will pay the delivery fees and the ship back fees if the Buyer refuse the vehicle. Seller agrees to complete and submit the shipping information to the AMG SHIPPING LTD, on the same day on which the vehicle is placed in the possession of the company responsible for shipping (no later than 48 hours from AMG SHIPPING LTD payment notification). Confirmation of same will be sent via email to all parties, unless all parties lawfully agree to a different method of notification. If the vehicle is located in one of our warehouse(We have the vehicle in our possession), we will start the delivery in no later than 24 hours from the payment clearance.
4. Buyer’s Acceptance, Disbursement of Funds
During the Buyer Inspection Period, Buyer shall either:
(a) accept the vehicle and follow all further instructions accordingly to complete acceptance of the vehicle and ownership transfer (AMG SHIPPING LTD will pay the Seller the purchase price in no later than 72 hours);
or
(b) Reject the vehicle and follow any further instructions to complete the rejection process of the vehicle.
Note: AMG SHIPPING LTD reserves the right to provide the Buyer a written 48-hour notice if an Inspection Period has ended without the Buyer’s involvement.
5. Buyer Rejection Process
During the Buyer Inspection Period, which is from 3 to 5 days, Buyer may reject the vehicle at any time, for any reason. Upon such rejection, AMG SHIPPING LTD will send Seller an email stating Buyer’s decision to reject and return the vehicle. If the Buyer refuses the vehicle, the refund will be sent to the Buyer in no later than 24 hours from refund/cancellation request. In this case the Seller will arrange and 1pay the ship back fees.
If we ship the vehicle, the refund will be sent to the Buyer in no later than 24 hours and we will pick up the vehicle no later than 5 days (Depends on our delivery agents availability in the Buyer’s area).
6. Shipping and Tracking of Returned Item
By rejecting the vehicle in the manner described above, Buyer agrees to return the vehicle promptly to Seller. Seller is responsible for all related shipping and insurance costs. Buyer agrees to return the vehicle to the Seller by use the same shipping service chosen by Seller. It is the responsibility of the shipping party to properly declare the vehicle and its value for customs procedures (If applicable). Note: If Seller use AMG SHIPPING LTD for delivery, please read step 4.
7. Cancellation
Once Buyer’s funds have been deposited, in the event that Seller fails to ship the vehicle within the required 24 hours period or within any longer time period upon which Buyer and Seller have mutually agreed, Buyer may request a refund of the deposited funds. Buyer may cancel the transaction at any time for any reason.
8. Timing of Payment
All deposits for vehicles in AMG SHIPPING LTD transaction should be submitted in at most two Business Days from payment invoice. Failure to do so will result in the AMG SHIPPING LTD transaction being voided.
Pricing for buying and selling a vehicle
| STATUS | VALUE | FEE(%) |
|---|---|---|
 |
Under 10.000 £ | 1,5% |
|
10.000 – 15,000 £ | 2% |
| 25.000 – 50.000 £ | 2,5% |
| 50.000 – 100.000 £ | 3% |
| Over 100.000 £ | 3,4% |