What deposit do you require to hold an excavator?
At ExcaYard, we typically require a deposit to hold an excavator once you've selected a machine and agreed on terms. The deposit amount is usually a percentage of the total price, and it secures the machine exclusively for you while we complete inspections, documentation, and shipping arrangements. The exact deposit percentage and payment method are confirmed in your proforma invoice, and we accept T/T, L/C, or Wise.
How the Deposit Works
When you decide to purchase a used excavator from ExcaYard, we issue a proforma invoice that outlines the machine details, price, deposit amount, and remaining balance. The deposit is typically a portion of the total cost, and once received, we mark the machine as sold and remove it from active inventory. This ensures no other buyer can purchase it while we prepare your order.
The deposit also triggers our 150-point pre-shipment inspection if not already completed. We provide photos and video of the inspection, including hours verification and paint-thickness checks, so you know exactly what you're getting. The remaining balance is due before shipment, unless other terms are agreed in writing.
Payment Methods and Deposit Security
We accept deposits via T/T USD wire, L/C through Bank of China, and Wise. T/T is the most common method for deposits due to its speed and lower fees. L/C is available for larger orders and provides additional security for both parties. Wise is a convenient option for smaller deposits or buyers who prefer online transfers.
All deposits are held in a secure account and applied directly to your invoice. We provide a receipt and updated proforma invoice once the deposit is received. If for any reason we cannot fulfill the order, the deposit is refundable according to our terms, which are clearly stated in the proforma invoice.
What Happens After You Pay the Deposit
Once your deposit is confirmed, we proceed with the following steps:
- Final inspection: We complete the 150-point inspection, including hours verification and paint-thickness checks, and share photos and video with you.
- Documentation: We prepare the commercial invoice, packing list, bill of lading, and certificate of origin. If your country requires certifications like SONCAP, SABER, PVoC, or GSA, we handle those as well.
- Shipping arrangement: We book the vessel and choose the best method—RoRo, container, or flat-rack—based on your machine and destination. Default ports are Shanghai, Ningbo, Qingdao, and Tianjin.
- Balance payment: You pay the remaining balance before shipment, as per the agreed terms.
- Shipment and tracking: We send you the bill of lading and tracking details once the machine is loaded.
Factors That Affect the Deposit Amount
The deposit percentage can vary based on several factors. The table below outlines typical considerations. Note that these are indicative ranges and the final deposit is confirmed in your proforma invoice.
| Factor | Impact on Deposit | Typical Range |
|---|---|---|
| Machine price | Higher-priced machines may require a larger absolute deposit | 20-30% of total price |
| Destination and shipping method | Longer routes or special shipping (flat-rack) may increase deposit to cover booking costs | 25-35% |
| Certification requirements | Countries requiring SONCAP, SABER, PVoC, or GSA may need additional deposit for certification fees | +5-10% |
| Payment method | L/C may require a higher deposit due to bank fees and processing | 30-40% |
| Machine availability | Rare or high-demand models may require a higher deposit to hold | 30-50% |
Shipping and Lead Time
After the deposit and balance are settled, we arrange shipping. We offer FOB or CIF terms. CIF is popular because we handle the freight and insurance to your destination port. Typical CIF lead time is 28-45 days port-to-port, depending on the route and vessel schedule. We ship via RoRo, container, or flat-rack. RoRo is often used for larger excavators that can be driven onto the vessel, while container and flat-rack are suitable for smaller machines or when RoRo is unavailable.
We serve Africa, Southeast Asia, the Middle East, Latin America, and CIS countries. For specific routes, you can check our answers section for examples like shipping a used Komatsu excavator to Vietnam or a used Doosan excavator to Tanzania.
Documents and Certifications
We provide all necessary export documents: commercial invoice, packing list, bill of lading, and certificate of origin. For countries with specific import regulations, we handle certifications such as SONCAP for Nigeria, SABER for Saudi Arabia, PVoC for Kenya, Tanzania, and Ghana, GSA for Ghana, and KEBS for Kenya. These certifications ensure your machine clears customs smoothly. The deposit may include an allowance for these certification costs, which we confirm upfront.
Frequently asked questions
What is the typical deposit percentage?
Typically, we require a 20-30% deposit of the total machine price. However, this can vary based on shipping method, certifications, and payment terms. The exact percentage is stated in your proforma invoice.
Is the deposit refundable?
Yes, the deposit is refundable if we cannot fulfill the order due to reasons on our end. However, if you cancel after we've started the inspection or shipping process, the deposit may be non-refundable to cover incurred costs. Terms are clearly outlined in the proforma invoice.
Can I pay the deposit via L/C?
Yes, we accept L/C through Bank of China. However, L/C transactions may require a higher deposit due to bank processing fees and typically take longer to confirm. T/T and Wise are faster alternatives for deposits.
Ready to secure your excavator? Contact us on WhatsApp at +86 193 9277 7259 to discuss deposit details and start the process. You can also browse our available machines to find your next excavator.
