First-hand ownership, returned to original paint on metal parts. Inspection report grade S. Insurance valid until 27.7. Four new tires.
Under CIF terms, the beneficiary of the insurance policy will be endorsed to the buyer. Once the claim is successful, the insurance company's foreign currency compensation will be directly deposited into the buyer's designated overseas company or personal account.
To ensure the legal rights of both parties, the "International Used Car Sales Contract" we signed is in both Chinese and English. Generally, the contract is governed by Chinese law. All liabilities for breach of contract and force majeure clauses will be clearly defined in the contract.
The customs of the destination country has the right to disregard the commercial invoice and reassess the value based on its internal database (such as the customs valuation red book). Any additional duties incurred are a result of the importing country's policy and are fully borne by the buyer (importer).
