Advice To Sellers

While the vast majority of transactions involving used machinery go smoothly, with buyers and sellers satisfied with their deals, you should nevertheless proceed cautiously, as you would in any business activity, particularly if you have not dealt before with this buyer, and particularly if you are selling equipment outside your own country.

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The tips and advice we give below are not comprehensive, and the inclusion or omission of any item will not make pressXchange.com liable for a resulting loss, nor does it diminish your responsibility to ensure that all aspects of the transaction, including the bona fides and competence of the seller and/or provider of any services.

• Please respond quickly to all enquiries, even if just to say that the item is sold.
• Machines listed with a price and with a full specification attract more buyers.
• Ensure that you describe the goods as accurately and fairly as you can in your entry. If you are not sure of something – for example the age of the machine or its specification – check with the manufacturer or his agent. Give the buyer a comprehensive list of all the equipment and accessories you intend to supply, and make it clear what you will to hold back.
• The seller of used equipment normally only releases his machine after he has been paid in full or has a guarantee of payment – e.g. a confirmed letter of credit, banker’s draft or guarantee of payment from the buyer’s finance company (if they are based in the same country as you). In any event ask your bank to check the guarantee.
• Agree with the buyer in writing the terms on which you are selling the equipment and who is responsible for dismantling, loading, packing, freight and insurance (both up to the time of release of the press and subsequently). Ensure that any money owing on the item to your finance company or bank is paid before the sale is concluded, and that the item is free from any charge, lien or encumbrance so that you can pass on good title.
• If you are offering a guarantee or warranty agree its terms and duration with the buyer, and how you intend to implement it.
• Agree when you will make the machine available, when any letter of credit should be opened and what will happen if either of these events is delayed – will it void the contract, and if so what compensation is payable.