What is the deposit and payment process?
ExcaYard typically requires a deposit of 30% to 50% of the total order value to initiate the export process, with the remaining balance due before shipment or against the bill of lading. Payment is accepted via T/T USD wire, L/C through Bank of China, or Wise, and the exact terms are confirmed in your proforma invoice.
Accepted Payment Methods
ExcaYard accepts three primary payment methods for used excavator purchases:
- T/T USD wire – The most common method. Funds are wired in US dollars to ExcaYard's designated bank account. T/T is fast and straightforward, with the deposit usually required within 3–5 business days after the proforma invoice is issued.
- L/C through Bank of China – A letter of credit provides additional security for larger orders. The L/C must be irrevocable and confirmed by a reputable bank. ExcaYard works with Bank of China to facilitate L/C terms, which typically require a deposit or margin as per the issuing bank's policy.
- Wise – For smaller amounts or buyers seeking lower transfer fees, Wise offers a cost-effective alternative. However, Wise may have transaction limits, so it is best suited for deposit payments rather than full balances.
All payments are made in USD. Currency conversion fees, if any, are the buyer's responsibility.
Deposit Structure and Typical Ranges
The deposit secures the machine and covers initial costs such as inspection, documentation, and logistics arrangements. While the exact percentage depends on the machine model, condition, and order value, the following table provides indicative deposit ranges based on typical transactions.
| Order Value (USD) | Typical Deposit | Balance Due | Payment Method |
|---|---|---|---|
| Under 20,000 | 50% | Before shipment | T/T or Wise |
| 20,000 – 50,000 | 40% | Before shipment | T/T or L/C |
| 50,000 – 100,000 | 30% | Against B/L copy | T/T or L/C |
| Over 100,000 | 30% | Against B/L copy | L/C preferred |
These ranges are indicative and may vary. The final deposit and balance schedule will be clearly stated in your proforma invoice.
Step-by-Step Payment Process
From initial inquiry to final payment, the process is designed to be transparent and secure.
- Inquiry and machine selection – You provide your requirements, and ExcaYard sources suitable used excavators from brands like Caterpillar, Komatsu, Hitachi, Volvo, Doosan, Hyundai, Kobelco, Sany, XCMG, SDLG, LiuGong, or Sunward.
- Inspection and report – A 150-point pre-shipment inspection is conducted, including hours verification and paint-thickness checks. You receive photos and video for approval.
- Proforma Invoice (PI) – ExcaYard issues a PI detailing the machine, price, deposit percentage, balance terms, shipping method, and estimated lead time.
- Deposit payment – You transfer the deposit via T/T, L/C, or Wise. Once received, ExcaYard reserves the machine and begins export preparations.
- Documentation and certification – ExcaYard handles export certifications such as SONCAP (Nigeria), SABER (Saudi Arabia), PVoC (Kenya/Tanzania/Ghana), GSA (Ghana), and KEBS. Necessary documents include commercial invoice, packing list, bill of lading, and certificate of origin.
- Balance payment – The remaining balance is due before shipment or against the bill of lading copy, as agreed in the PI.
- Shipping and delivery – ExcaYard arranges shipping via RoRo, container, or flat-rack from ports such as Shanghai, Ningbo, Qingdao, or Tianjin. Typical CIF lead time is 28–45 days port-to-port.
Documents and Certifications
ExcaYard provides a complete set of export documents to ensure smooth customs clearance at your destination. These include:
- Commercial invoice
- Packing list
- Bill of lading
- Certificate of origin
Additionally, ExcaYard manages region-specific certifications: SONCAP for Nigeria, SABER for Saudi Arabia, PVoC for Kenya, Tanzania, and Ghana, GSA for Ghana, and KEBS for Kenya. These certifications are essential for customs clearance and are handled by ExcaYard's export team.
Shipping and Lead Time
ExcaYard offers FOB or CIF terms. Shipping methods include RoRo (Roll-on/Roll-off), container, and flat-rack, depending on machine size and destination. Default ports of loading are Shanghai, Ningbo, Qingdao, and Tianjin. The typical CIF lead time is 28–45 days port-to-port, though this may vary based on shipping schedules and destination.
For specific routes, you can refer to our guides on shipping a used Hyundai excavator to Mexico or shipping a used Sany 20-ton excavator to UAE.
Frequently asked questions
What is the typical deposit percentage?
Typically, the deposit ranges from 30% to 50% of the total order value, depending on the machine and order size. The exact percentage is specified in your proforma invoice.
Can I pay the balance after receiving the bill of lading?
For orders over 50,000 USD, the balance is often due against the bill of lading copy. For smaller orders, the balance is usually required before shipment. This is negotiable and will be stated in the PI.
What payment methods are accepted?
ExcaYard accepts T/T USD wire, L/C through Bank of China, and Wise. T/T is the most common, while L/C is preferred for larger orders.
Ready to proceed? Contact ExcaYard on WhatsApp at +86 193 9277 7259 to discuss your deposit and payment terms.
