What deposit do you require to reserve a used excavator?
At ExcaYard, we typically require a 30% deposit via T/T (telegraphic transfer) to reserve a used excavator. The remaining balance is due before shipment, once you have approved the pre-shipment inspection report. For larger orders or specific cases, we also accept an irrevocable Letter of Credit (L/C) through Bank of China, which may require a similar deposit or margin as per your bank's terms.
Why a Deposit Is Required
A deposit serves two main purposes: it confirms your serious intent to purchase and allows us to take the machine off the market while we complete the 150-point inspection, prepare export documentation, and arrange shipping. Without a deposit, we cannot guarantee availability, as our inventory of pre-owned Caterpillar, Komatsu, Hitachi, Volvo, Doosan, Hyundai, Kobelco, Sany, XCMG, SDLG, LiuGong, and Sunward machines is constantly changing. The deposit also covers initial costs such as inspection fees, photography, and administrative work for export certificates like SONCAP, SABER, PVoC, or GSA.
How Much Deposit Is Typically Required?
Our standard deposit is 30% of the total machine price. However, this can vary based on the machine's value, destination, and payment method. For example, if you choose an L/C, the deposit might be structured differently, often as a margin with your issuing bank. We also accept Wise for smaller transactions, but T/T is the most common. Below is a table outlining typical deposit scenarios based on payment method and order size.
| Payment Method | Typical Deposit | Balance Due | Notes |
|---|---|---|---|
| T/T (USD wire) | 30% of machine price | 70% before shipment | Most common; deposit secures machine for inspection. |
| L/C (Bank of China) | Negotiable, often 20-30% margin | Against documents | Requires bank approval; deposit held as margin. |
| Wise | 30% for orders under $50,000 | 70% before shipment | Fast transfer; suitable for smaller machines. |
| Multiple units | 20-30% per unit | Balance before shipment | Discounts may apply; deposit per machine. |
| Urgent reservation | 30% within 48 hours | 70% before loading | Ensures priority inspection and booking. |
What Happens After You Pay the Deposit?
Once your deposit is received, we immediately begin the 150-point pre-shipment inspection. This includes hours verification, paint-thickness checks, and a full photo and video report. We then handle any required export certifications such as SONCAP for Nigeria, SABER for Saudi Arabia, PVoC for Kenya, Tanzania, or Ghana, GSA for Ghana, and KEBS for Kenya. You will receive the inspection report for approval before we proceed with shipping. If the machine does not meet your expectations, we can discuss alternatives or a refund according to our terms.
Payment Methods and Security
We accept T/T USD wire, L/C through Bank of China, and Wise. T/T is the fastest and most straightforward. For L/C, the deposit is typically held as a margin by your bank, and we receive payment upon presentation of shipping documents. All transactions are secure and documented with a commercial invoice, packing list, bill of lading, and certificate of origin. We recommend using T/T for speed, but L/C offers added security for large orders.
Shipping and Lead Time After Deposit
After the deposit and inspection approval, we arrange shipping from default ports Shanghai, Ningbo, Qingdao, or Tianjin. You can choose FOB or CIF terms. We offer RoRo, container, or flat-rack shipping depending on machine size and destination. Typical CIF lead time is 28-45 days port-to-port. For example, shipping a used Komatsu excavator to Vietnam or Tanzania follows this timeline. We handle all export documentation and coordinate with your freight forwarder if needed.
Frequently asked questions
Can I reserve a machine without a deposit?
No, we cannot hold a machine without a deposit because inventory moves quickly. A deposit ensures the machine is reserved for you while we complete inspection and paperwork.
Is the deposit refundable if I change my mind?
Deposits are generally non-refundable once inspection and documentation have begun. However, if we cannot supply the machine as described, we will offer a replacement or discuss a refund. Please review our terms before paying.
Do you accept L/C for the deposit?
Yes, we accept L/C through Bank of China. The deposit is typically structured as a margin with your issuing bank. Contact us for details on L/C terms and conditions.
Ready to reserve your used excavator? Contact us on WhatsApp at +86 193 9277 7259 to discuss deposit and payment options. Browse our available machines or check our answers section for more guidance.
