TERMS & CONDITIONS

Pre-Order Terms & Conditions

Note: The following terms and conditions are subject to change depending on market conditions.

1. Security / Initial Deposit

A security deposit is required before participating in the Japanese Auction process as outlined below:

  • 1 Lakh Taka for cars up to 25 Lakhs
  • 2 Lakhs Taka for cars up to 50 Lakhs
  • 5 Lakhs Taka for cars up to 1 crore
  • 10 Lakhs Taka for cars more than 1 crore

The bidding process cannot begin without the payment of the security deposit. If you are unsuccessful in placing a bid, the deposit is refundable after a service charge of 20,000 Taka is deducted.

2. LC Payment and Service Charges

Due to 100% LC margin requirements by Bangladesh Bank, you will need to pay 100% of the car price for the LC opening before shipping:

  • If the LC amount is paid by the customer, M4 Autos takes Two Lac Taka as service charges for import formalities and delivery.
  • If the customer pays only the booking money, M4 Autos offers an all-inclusive fixed price.
  • If the payment is not made within 7 days from the auction win date, the car will be re-auctioned, and the initial deposit will be deducted as penalty.
  • If the customer wants to keep the car in Japan yard, yard fees of USD 200-300 per month must be paid.

3. Fluctuating Rates and Charges

Due to fluctuating exchange rates (Yen to Dollar and Dollar to Taka), customers should discuss the Yen rate, shipping charges in Japan, and the Dollar to Taka conversion rate before each auction. These rates are subject to change and will be charged based on the actual payment date.

4. Customs Duty and Wharf Rent

Once the car reaches the Bangladesh port, the customer must pay the customs duty for releasing the car. The tax will be charged based on actuals, and if the tax increases, the customer will bear the additional cost. If it decreases, we will refund the difference.

Wharf rent (port charge) is applicable at 1500 Taka per day if the payment is delayed.

5. Final Payment

100% of the payment must be made before the car is registered.

6. Shipment Time

It usually takes 90 days to get the car to Bangladesh after the auction win. Once the car is on board, M4 Autos is not responsible for any delays caused by the shipping lines. Customers should pay 90% of the total car price when the car reaches the port and the remaining 10% upon delivery.

7. Car Servicing and Additional Costs

  • The car will be delivered with 1 servicing (Engine oil change, Air filter, and Air filter change).
  • If the tyre condition is poor, the customer will bear the cost of changing the tyres (either reconditioned or brand new).
  • Alloy rims will remain as is, but if the customer wants to change them, the additional cost will be borne by the customer.
  • If there is any dent/paint work, the customer must bear the cost.
  • Any aftermarket modifications will be at the customer's expense.

8. Car Registration

It typically takes 2-5 working days for BRTA Registration after the car is released from the port and full payment is made.

9. Cancellation & Refund Policy

Cancellation fees:

  • If the car is in the showroom/Dhaka and the customer cancels within 3 days, a cancellation fee of BDT 50,000 will be charged.
  • If the car is in Chittagong/Mongla port and the customer cancels within 7 days, a cancellation fee of BDT 1 lac will apply.
  • For Japan stock, cancellations after the car has reached the port or during shipment incur a penalty of 1 lac Taka.
  • If the payment is not made within 30 days, the car will be canceled and the cancellation fee will be a minimum of 1 lac Taka or 5% of the total price (whichever is higher).
  • If a car loan is not granted due to the customer’s profile, the cancellation fee will be a minimum of 1 lac Taka or 5-10% of the total car price (whichever is higher).
  • If the loan is approved but the customer fails to pay their portion within 5 days, the car will be canceled, and the cancellation fee will apply.

10. Pre-Purchase Inspection

For ready stock cars, customers can take the car for pre-purchase inspection to a renowned service center/workshop. If faults are found (only Engine, Gearbox & Hybrid System), the customer can cancel the order and receive a full refund. For other issues (suspension, shocks, etc.), repairs will be done before delivery.

11. Auction Sheet Verification Cancellation & Refund Policy

If a customer is charged but does not receive the auction sheet report, a full refund will be given. If the manual search fails, 50% of the fees will be refunded via bKash. Please contact info@m4autos.com for assistance.