What procedures should be followed for buying Used Heavy Equipment?

The huge development in the developing countries has opened new horizons for the construction companies. Along with that, the uncertain political and economic conditions are becoming the hurdles for the investors as they have to think a lot before taking any productive decisions. The purchasing of heavy equipment is one of the major decisions which the multinational construction companies have to take before starting the projects.

If there is a stability and continuity in the economic policies, the construction companies try to buy the heavy equipment and machinery from the international market or the distributors in that particular country. This equipment is brand new and companies have to pay a huge amount for it. If there is uncertainty or the construction companies are concerned about the political situation, they prefer to buy used heavy equipment available for sale in the local market.

New equipment is purchased in those situations where you want to continue your business in the future but if you are not sure about the future, you will take cautious decisions. The decision to search used heavy equipment for sale is a hectic decision as you have to explore the local markets and if you are not aware of local trends, you cannot manage this process easily.

It is also the matter of fact that the construction companies have to take some major decisions and these decisions are required huge budgets. Two of the major decisions are arrangement of manpower and purchasing of used heavy equipment. The hiring of new and skilled manpower is also a difficult task but can be managed without any major issues but to find out the used heavy equipments for sale can be a long and hectic effort and even after that, you cannot be a satisfied customer.

Although, there can be great difficulties in finding out the equipment but the benefits are huge. The first benefit which cannot be ignored is the fact that the prices are very low when we compare with the prices of new ones. If you have found a dealer or distributor of any particular machine, you can get best available machines at a very small amount. These people also help you in the right direction if you need any particular equipment and he has no dealership of it. These dealers will guide you in the right direction and provide you the best deal in the market.

It is also a good habit if your managers know the market situation and they can move around for finding some used equipment but in good condition as there can be numerous construction companies which have no work or they are thinking to leave the business. It is also the possibility that some well renowned companies want to replace the old equipment with the latest one and the used equipment is suitable for your organization. These targets can be achieved through market surveys and research.

The third option which is considered to be the best option is to search the used equipment online. It is the best way of finding the best available and suitable way. You just go to any of the search engines; write “used heavyequipment for sale” and get the numerous options. You will just search the best equipment and finalize the deal with the owner or a dealer.

Used heavy equipments are useful for those companies which have a new business and they want to establish themselves at a new place. This equipment is also suitable for those who have low budgets for equipment so they want to establish them according to the business situation and economic environment.

Procedure for Exporting Trucks and Heavy Equipment

Knowing the proper export procedures is paramount to a successful transaction. However, keep in mind that regulations are likely to change from time to time. So you need to stay abreast of current regulatory export procedures. Read to learn about the Procedure for Exporting Trucks and Heavy Equipment through GlobalTruckAndMachine.com:

 

1- Get all the correct client (person you are shipping to) information, including full (legal) name, Phone number, Physical Address, E-mail, Passport or Federal ID No.
2- Choose a shipping company; another term for the shipping company would be Freight Forwarder. AES is an example of a popular freight forwarding company.
3- Get a shipping quote from the freight forwarder and know the ports desired for shipping the truck, trailer or machine.
4- Fill out the Export Power of Attorney form and get signed. You will need to fill out the Letter of Intent form and send them both to the shipping company of your preference along with a copy of the front and back of the title. If you are shipping a piece of equipment that does not have a title then you will need to send a copy of the original Bill of Sale, notarized. The Bill of Sale must have this statement on it: "We state there are no liens or encumbrances on any or part of this machine and that it is not stolen."
5- Once you receive the Dock Receipt back from the shipping company, they should send you an ACL form with all the information of the port in which you are shipping out of, and the Order in which the paperwork needs to be in. You usually need the Original Title first (if there is no title then the original Bill of Sale notarized), the Dock Receipt, a certain amount of copies of each the title and the Dock Receipt. Your freight forwarder will give you instructions for all your documents and how many of them need to accompany the item to the port.
6- Make sure the Transporter who is taking the truck, trailer or equipment to the port knows which port to go to, and what area of that port to be at. Also make sure the transporter has all of the correct documents in the correct order to take with them to the port.

 

Important To Remember: Some ports require that the truck, machine or equipment be very clean (free of all dirt, oil or any fluids) before it can be accepted at the port. Also, all ports require that any machine or truck has brakes before it can be accepted. Make sure you know all of the requirements before sending the item to port.

7- Once the truck or piece of equipment is at the port, the transporter should receive a stamped Dock Receipt (this ensures your truck or piece of equipment is at the port and ready to be loaded onto the ship). The payer (which could either be the exporter or the supplier) will then receive an Invoice and it must be paid in full before the truck or piece of equipment can be shipped. In a dealer's case, they could be the supplier and the payer. This means the dealer's customer would be the exporter and they would pay the dealer in full for the truck, or piece of equipment and the shipping quote.
Once the invoice is paid, the truck or piece of equipment can be shipped. In some cases the foreign buyer may take care of all of the shipping arrangements and transportation to the port but it is a great selling tool if the seller can make the arrangements for them. Once you know the procedure, it is a pretty simple process.
8-After the truck or piece of equipment is on the ship, the payer/supplier will receive two copies of the Bill of Lading. Both copies must go to the exporter, so they can send it overseas to the consignee (which is the person receiving the truck or piece of equipment at the port). Both copies must be there before the ship arrives at port, or otherwise the exporter will be charged a holding fee until the pair of Bill of Lading arrives.
9- The title takes the longest to go through US Customs. Once it’s through, the shipping company will either send it to the exporter (person receiving the item overseas) or the seller and they can send it overseas to the consignee. Be aware that sending the title could cost up to $100.00; you should cover yourself with these expenses by charging a doc (documentation) fee unless you are willing to take care of the extra expense. The title doesn't always have to be with the consignee to get the truck or piece of equipment from the port, but it is usually a good idea to try to get the overseas as soon as possible.
10-Do a follow-up with the customer (exporter) to make sure all the needed documents were received and everything passed Customs and they had a successful shipment.
You’re done! Hope this Guide help you get past the hurdles of exporting your vehicle. I would love to hear from anyone who this guide has helped.

Reference link:
http://www.blog.globaltruckandmachine.com/trucks-and-heavy-equipment/procedure-for-exporting-trucks-and-heavy-equipment.html