Terms of Trade

Last updated: 7 July 2025

These Terms of Trade ("Terms") govern all quotations, orders, and transactions between HAKO Global Trading Limited ("we", "us", or "the Company") and any customer ("you", "the Customer") who requests a quotation, places an order, or purchases a vehicle through the Company.

By requesting a quotation or placing an order, you accept these Terms in full. If you do not accept these Terms, you should not submit a quotation request or place an order.

1. Scope of Services

The Company provides the following services from its base in the Hong Kong Special Administrative Region:

1. Sourcing of brand-new Chinese vehicles from manufacturers and authorized distributors;
2. Preparation of vehicle quotations and proforma invoices;
3. Coordination of pre-shipment inspection and documentation;
4. Arrangement of international ocean freight shipping;
5. Support for customs clearance at the destination port;
6. Customer communication via email and WhatsApp.

The Company acts as an export intermediary. It is not the vehicle manufacturer and does not hold a dealership licence for any specific brand.

2. Vehicle Quotations

2.1 Quotation Validity

All quotations are provided in writing and are valid for fourteen (14) days from the date of issue, unless otherwise stated. Prices are subject to change after this period without prior notice.

2.2 Quotation Contents

Each quotation specifies:

• Vehicle model, configuration, and quantity;
• Unit price and total price in the stated currency;
• Applicable Incoterms (FOB, CIF, or EXW);
• Estimated shipping and transit time;
• Payment terms and deposit requirement;
• Validity period.

2.3 No Binding Offer

A quotation constitutes an invitation to treat, not a binding offer. A binding agreement is formed only upon our acceptance of your written purchase order and receipt of the required deposit.

3. Orders and Acceptance

3.1 Order Confirmation

To place an order, you must submit a written purchase order referencing the quotation number. We will issue a written order confirmation and a proforma invoice.

3.2 Right to Decline

We reserve the right to decline any order, in whole or in part, without providing reasons. In such cases, any deposit received will be refunded in full.

3.3 Order Amendments

Once an order is confirmed, amendments may be requested in writing. We will assess the feasibility and any cost implications, and issue an amended proforma invoice where the amendment is accepted.

4. Deposits and Payment Terms

4.1 Deposit

A non-refundable deposit of thirty per cent (30%) of the total order value is required to confirm an order, unless otherwise agreed in writing. The deposit secures the vehicle allocation and initiates the export process.

4.2 Balance Payment

The remaining balance is due before shipment, typically against the bill of lading and shipping documents. The exact timing will be specified in the proforma invoice.

4.3 Payment Methods

We accept payment by:

• Telegraphic Transfer (T/T) to our verified Hong Kong company bank account; or
• Irrevocable Documentary Letter of Credit (L/C) issued by a first-class international bank, subject to our acceptance of the issuing bank and L/C terms.

We do not accept cash, cryptocurrency, or transfers to personal accounts.

4.4 Late Payment

If payment is not received by the due date, we reserve the right to:

• Delay shipment until full payment is received;
• Cancel the order and retain the deposit as liquidated damages;
• Charge interest at a rate of one and one-half per cent (1.5%) per month on the outstanding balance.

5. Currency

Unless otherwise stated, all quotations and invoices are issued in United States Dollars (USD). If payment is made in another currency, exchange rate conversion costs and any bank charges are borne by the Customer. The exchange rate is determined by our bank on the date of payment receipt.

6. Export Procedures

Upon receipt of the deposit, the Company will:

1. Confirm the vehicle allocation with the manufacturer or distributor;
2. Arrange pre-shipment inspection at the Chinese port of loading;
3. Prepare the export documentation pack, including the certificate of origin, commercial invoice, and packing list;
4. Book ocean freight with the carrier;
5. Load the vehicle and issue the bill of lading.

The Customer is responsible for providing any import authorisation or licence required by the destination country. We cannot be held liable for delays or refusals caused by the Customer's failure to obtain such authorisations.

7. Delivery Terms and Incoterms

7.1 FOB (Free On Board)

Under FOB terms, the Company delivers the vehicle on board the vessel at the named Chinese port of loading. Risk and cost transfer to the Customer once the vehicle is loaded. The Customer is responsible for ocean freight, insurance, and all subsequent costs.

7.2 CIF (Cost, Insurance and Freight)

Under CIF terms, the Company arranges and pays for ocean freight and minimum marine insurance to the named destination port. Risk transfers to the Customer once the vehicle is loaded on board the vessel at the port of origin. The Customer is responsible for customs clearance, duties, and inland transport at the destination.

7.3 EXW (Ex Works)

Under EXW terms, the Customer takes delivery of the vehicle at the manufacturer's premises in China and bears all costs and risks from that point onward, including export clearance from China.

7.4 Incoterms Version

All Incoterms references are to Incoterms 2020 published by the International Chamber of Commerce.

8. Shipping Responsibility

The Company will use reasonable endeavours to meet estimated shipping and transit times, but these are estimates only and not guaranteed. Factors beyond our control, including port congestion, carrier schedules, weather, and government actions, may cause delays.

The Customer is responsible for inspecting the vehicle upon arrival at the destination port and noting any damage on the bill of lading or delivery receipt before taking possession.

9. Customs Responsibility

The Customer is responsible for all import customs clearance, duties, taxes, and regulatory compliance at the destination port. The Company will provide the necessary export documentation but does not act as the Customer's customs broker at the destination.

Any customs duties, import taxes, or regulatory fees levied by the destination country are the sole responsibility of the Customer.

10. Force Majeure

Neither party shall be liable for any failure or delay in performing its obligations under these Terms where such failure or delay is caused by events beyond its reasonable control, including but not limited to:

• Acts of God, natural disasters, fires, floods, or epidemics;
• War, armed conflict, or civil unrest;
• Government actions, embargoes, or trade restrictions;
• Port closures, carrier insolvency, or shipping disruptions;
• Labour disputes or industrial action.

The affected party shall notify the other party promptly and use reasonable efforts to resume performance once the force majeure event ends.

11. Warranty Limitations

11.1 Manufacturer Warranty

Vehicles are supplied with the original manufacturer's warranty as applicable in the destination market. The Company facilitates warranty registration and provides supporting documentation, but does not itself warrant the vehicle.

11.2 Exclusion of Implied Warranties

To the maximum extent permitted by law, the Company excludes all implied warranties, conditions, and representations other than those expressly set out in the proforma invoice or these Terms.

11.3 No Guarantee of Outcomes

The Company does not guarantee specific regulatory, banking, or customs outcomes, as these depend on the policies of third-party institutions over which we have no control.

12. Returns

Vehicles are custom-ordered for export and are non-returnable except where the vehicle delivered does not match the confirmed order specification or arrives with manufacturing defects covered by the manufacturer's warranty.

In such cases, the Customer must notify the Company in writing within seven (7) days of receiving the vehicle. We will coordinate with the manufacturer to address the issue in accordance with the manufacturer's warranty process.

13. Cancellation

13.1 Cancellation by the Customer

Orders may be cancelled only with our written agreement. Where cancellation is accepted, the deposit shall be forfeited as liquidated damages to cover costs already incurred. If the vehicle has been allocated, manufactured, or shipped, additional cancellation charges may apply.

13.2 Cancellation by the Company

We reserve the right to cancel an order where:

• Payment is not received by the due date;
• KYC or AML screening reveals a sanctioned party or prohibited transaction;
• Export controls or sanctions prevent shipment;
• The manufacturer is unable to supply the vehicle.

In such cases, any deposit received will be refunded in full, less any reasonable costs already incurred.

14. Governing Law and Jurisdiction

These Terms are governed by the laws of the Hong Kong Special Administrative Region. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Hong Kong, without prejudice to the Company's right to enforce a judgment in any competent jurisdiction.

15. Dispute Resolution

15.1 Good-Faith Negotiation

In the event of a dispute, both parties shall first attempt to resolve the matter through good-faith negotiation within thirty (30) days of written notice of the dispute.

15.2 Mediation

If the dispute is not resolved through negotiation, the parties agree to attempt mediation in Hong Kong in accordance with the Mediation Rules of the Hong Kong International Arbitration Centre (HKIAC) before commencing litigation.

15.3 Arbitration

If mediation fails, the dispute shall be referred to and finally resolved by arbitration administered by the HKIAC under the HKIAC Administered Arbitration Rules. The seat of arbitration shall be Hong Kong, the number of arbitrators shall be one (1), and the language shall be English.

16. Contact

For any questions regarding these Terms of Trade, please contact us:

• Company: HAKO Global Trading Limited
• Email: CONTACT@hakoautomobile.com
• WhatsApp: +213 780 442 267