(a) 100% of the purchased price of the vehicles, together with applicable charges and parking fees shall be paid by the Buyer to the Seller by way of irrevocable L/C at sight before 5 working days of the estimated time of departure by the Buyerto the Sellerand/or T/T remittance within 30 days from shipment date.
(b) In terms of other payments to be made by the Buyer to the Seller under this memorandum, 100% of such amount shall be paid by the Buyer to the Seller by way of T/T remittance within 60 days from the date of the invoice for the said amount sent to the Buyer from the Seller.
Shipment shall be made within 45 days after the Purchase Date. In case of failure of shipment within 45 days from delivery date to the yarddue to reasons attributable to theBuyer, a parking fee of actual basis shall be charged by the Seller to the Buyer.
In case that Buyercancelsa vehicle after the purchase, the total of (a) all expense, loss amount of any nature Whatsoeverand (b) US$ 300 of cancellation fee per vehicle shall be charged by the Seller to the Buyer.
SELLER MAKES NO WARRANTY OR GUARANTEE OF ANY NATURE WHATSOEVER WITH RESPECT TO THE SALES OR ORDERS FROM THE BUYER IN ACCORDANCE WITH THIS AGREEMENT. GOOD SOLD BY THE SELLER TO THE BUYER ARE FURNISHED "AS IS" AND "WITH ALL FAULTS".
Seller and Buyer agrees to make commercially reasonable efforts to resolve any issues between the Parties arising with respect to or in connection with the sale and purchase of used cars in connection with this terms and conditions in good faith.
The laws of Japan shall apply to this Agreement and the contractual relationship between the parties in connection therewith, to the exclusion of the UN Convention on Contracts for the International Sale of Goods.
Any disputes arising from or in connection with this terms and conditions and the contractual relationship between the parties in connection therewith shall be subject to the exclusive jurisdiction of the Tokyo District Court as the court of first instance.
Sincerely Yours,
NEXT DRIVE CO.,LTD