Auction-specific terms
Helpful terms for bidders and sellers
Payment Terms
Purchasers are required to pay at least 25% of the purchase price immediately after the auction ends, with the remainder due within 7 days. Interest at 18% per annum accrues from the 8th day post-auction, plus any legal and collection fees.
Transaction Fee Structure:
For Lots up to USD 5,000: 15% fee, minimum USD 100 per Lot
For Lots over USD 5,000 to USD 12,000: 10% fee, minimum USD 750 per Lot
For Lots over USD 12,000 to USD 75,000: 4.85% fee, minimum USD 1,200 per Lot
For Lots over USD 75,000: Flat fee of USD 3,638 per Lot
Bids do not include VAT or additional transaction costs, where applicable.
Domestic Buyers' Payment Methods:
Preferred methods: Wire transfer, manager’s cheque, or company cheques (subject to Makana's approval). No releases without full payment. Certified cheques must be cleared before release. Cash payments are also accepted.
International Buyers' Payment Methods:
Only wire transfers in USD or AED are accepted.
For ALL Buyers:
Purchases up to $10,000 can be paid via Visa or Mastercard on Makana.com. Note: A 2.95% service fee applies to credit card payments.
Registration deposits are accepted in USD and AED.
Makana’s Exchange Rate: 1 USD = 3.6725 AED. Exchange rates for other currencies are calculated on the payment date.
Cash, Letters of Credit, and endorsed cheques are not accepted.
Third-party payments require prior written approval from Makana.
Additional documents may be needed according to bank guidelines.
For any payment, email proof of payment (swift copy, cheque copy, bank receipt) from your registered email to payments@makana.com with your invoice number for tracking.
Note: Please ensure Makana’s specific guidelines for payments are strictly followed to facilitate a smooth transaction process.
For bank transfers or cash deposits at a bank/ATM, ensure the transaction includes your invoice number. Cash deposits take at least 1 banking day to process, cheques 2-3 days, and bank transfers 3-4 days to clear in our account. Confirm payment reception with us via email or phone before collecting any documents/items. Makana is not responsible for payments not received due to accidental or unlawful issues affecting computers, systems, data, or networks managed by you or your financial institution.
Transfer of Ownership
Ownership transfer for Duty Paid items must occur within 14 days post-payment. For Duty Not Paid items, transfer to the Buyer's name is required before pickup. Verify the accuracy of your invoice name.
Invoice names are final and cannot be altered. Makana issues invoices and sales letters solely to the registered party's name (as per the Bidder Agreement).
If a buyer resells auction-purchased units to a Third Party, issuing an invoice to that party is the buyer's responsibility, not Makana's.
Custom Duty
1. GCC Duties Not Paid:
Items marked with an asterisk (*) on the invoice have not been imported into the UAE/GCC. Therefore:
Import Buyers: A 5% duty is payable to UAE Customs at Jebel Ali Free Zone upon importation into the UAE/GCC.
Export Buyers: A 15% deposit is payable to Makana at the time of purchase. This deposit is refundable only if the equipment is exported out of the GCC within 30 days from the date of the Export Bill and all proof of export documents are submitted to Customs within 30 days of exporting the equipment.
Sea and Dubai Free Zone (Excluding Jebel Ali) Buyers: Buyers intending to take items via sea or from Dubai-based Free Zones other than Jebel Ali are treated as Export Buyers and must adhere to the export buyers' instructions mentioned above. Such buyers must notify us at the time of registration.
2. No-Label:
Items not labeled as GCC Duties Not Paid are considered UAE Duty Paid, not GCC Duty Paid.
5% VAT
VAT applies in accordance with local regulations.
VAT Deposit may be required as determined by Makana.
VAT applicability for each sale is assessed by Makana, considering the buyer's statements and sale location. Buyers are responsible for any later VAT liabilities related to their purchases.
The buyer bears full responsibility for VAT.
For UAE Buyers:
A 5% VAT may apply to all purchases, whether Duty Paid or Duty Not Paid.
Duty Not Paid items might necessitate an extra 5% VAT payment to the Federal Tax Authority or require their approval on the Customs Import Declaration.
For GCC Buyers:
A 5% VAT Deposit is required on all purchases as a guarantee. This deposit is refunded after one month upon providing export proof certified by UAE Customs.
Duty Not Paid items might need an additional 5% VAT payment to the Federal Tax Authority or their approval on the Customs Import Declaration. Refunds must be claimed directly from the Tax Authorities, not Makana.
For Export Buyers:
A 5% VAT Deposit is charged on all purchases as a guarantee, refundable within one month with export proof certified by UAE Customs.
Lots labeled “Cannot be registered in GCC, for export only” might face issues, such as serial number problems, requiring further actions like RTA inspections at the buyer's expense. Such Lots may fail RTA inspections, making them non-registrable in the GCC and eligible only for overseas export. Makana does not guarantee the importability of auction items into any country or the completeness of documentation.
Terms of Sale
Items are sold "as is, where is."
No guarantees or warranties provided.
Inspection of equipment prior to bidding is advised.
The catalog serves as a guide, compiled from consignor information and reliable sources, yet accuracy is not guaranteed by Makana. Catalog or online inaccuracies do not exempt buyers from their obligations per the Terms & Conditions.
Inspection of Equipment is Recommended: The listed year on some lots may reflect service initiation rather than manufacture date. Odometer/hour meter accuracy is not verified by Makana.
All purchases must be removed from Makana's yard within 3 weeks post-auction. Full payment and a release ticket from our office are prerequisites for equipment release. Unremoved equipment may be stored at our facility for $25 plus VAT per day per lot or moved to a third-party facility, at the buyer’s cost.
Insurance and removal are the buyer’s responsibility. Note the yard closes at 5:00 p.m., and trucks should arrive 30 minutes before closing.
Important: Makana is located in a Duty-Free Zone. Title passes within the Free Zone, and all items require formal clearance. Buyers must manage Customs Clearance from the Jebel Ali Free Zone at their own responsibility and expense.
Duty fees, where applicable, are the buyer’s responsibility. Makana will not provide documents related to conformity or safety certifications.
Upon bid acceptance, items become the buyer's responsibility. Makana bears no liability for loss or damage; buyers are advised to insure their purchases.
Clearance through specified Freight forwarders is mandatory for export buyers. Makana may offer loading or unloading assistance at its discretion but assumes no liability for any related incidents or legal breaches. The buyer or their transporter’s presence and actions on Makana’s premises are their responsibility.
Buyers are responsible for any injuries, damages, fines, or legal infractions occurring on Makana's property or during transport of items, including those arising from provided assistance or equipment use. Equipment modifications may be necessary for compliance with import and safety regulations; consultation with a Customs broker is recommended.
No Bidding on Behalf of Seller
All consignors to Makana auctions are contractually prohibited from bidding on their own items, directly or indirectly. Similarly, upon registration, every bidder agrees not to bid on behalf of any consignor for items the consignor has placed in the auction.
Should you become aware of any violations of these agreements, please inform the Makana office immediately. We value integrity and fairness in our auction process.
Loading Safety Regulations
Transport drivers receive updated safety requirements upon signing into the yard and must comply with these rules. High visibility vests and safety footwear are mandatory when outside a vehicle on Makana Property. For those without a vest, they are available at the Yard Office. Makana is dedicated to enhancing safety awareness across all locations.
Risk Awareness
Auction sites can be hazardous, with active heavy machinery, and the presence of flammable, corrosive, and pressurized substances, alongside live electrical circuits. Makana assumes no responsibility for any injuries, damages, or loss of property under any circumstances.
Sanctioned Jurisdictions
In line with clause 24 of the Buyer Terms, Makana strictly prohibits participation from or exports to the following jurisdictions, according to policy:
CUBA
SYRIAN ARAB REPUBLIC
IRAN
NORTH KOREA
VENEZUELA
RUSSIA
BELARUS
UKRAINE.
Buyers must not export to these jurisdictions and affirm that they are the final recipients of the purchased items, with no plans to re-export to the listed locations.
Group Buying and Selling Options
1. Choice Groups:
Items are auctioned sequentially by lot number. When similar items form a choice group, the highest bidder selects one or multiple lots at the bid price. Remaining lots may be available to the second-highest bidder at that price, followed by others as the auctioneer decides.
2. Lot Grouping:
The auctioneer has the freedom to combine any number of lots, presenting them as one lot for a singular price.
Value-Added Services
Makana provides various services, both in-house and through partnerships, to help you utilize your purchases quickly. For details on these services, speak with a Makana representative or visit makana.com.
Financing: Secure your equipment at a financial pace that suits you with our financing and leasing options. For more information, go to makana.com/financing.
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