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Buyback Terms
J.W Groombridge Motorcycles Ltd are offering to sell certain models of new Yamaha and Suzuki motorcycles and then repurchase the machine at any time up to 1 year from date of registration at a guaranteed price agreed at time of customer purchase. There is a formal contact issued, which is signed by both parties and is legally binding. This transaction, known as a 'Buyback is subject to the following terms and conditions.
| TERMS AND CONDITIONS | ||||||||
| Incorporated in full into the Purchase Undertaking and any Schedule to Purchase Undertaking | ||||||||
| (Schedule) attached hereto. | ||||||||
| 1.0) In consideration of the Owner buying the Goods at the Original Purchase Price, the Buyer | ||||||||
| undertakes to purchase the Goods upon receipt by the Buyer of the Owners first written demand | ||||||||
| made at any time on or before the date of expiry of the Term and in the event of such demand to | ||||||||
| the Buyer by the Owner, to pay forthwith a purchase price for the goods equal to the percentage | ||||||||
| of the Original Purchase Price as set out in the Schedule To The Purchase Undertaking, subject | ||||||||
| to the Goods being in an acceptable condition and mileage as described in paragraph 1.4. | ||||||||
| 1.1) The condition of the Goods will be determined by the Buyer upon completion of a Formal | ||||||||
| Inspection by the Buyer at the Buyers premises at a time agreed but no more than 24 hours | ||||||||
| before the date of purchase advised by the Owner in the Owners first written demand. | ||||||||
| 1.2) The Buyer is not and shall not be obliged to purchase the Goods if the condition of the Goods | ||||||||
| is not in accordance with and satisfactory to the Buyers standards on the date of purchase. | ||||||||
| 1.3) The minimum standards the Goods must meet on the date of purchase are those detailed in | ||||||||
| paragraph 1.4 | ||||||||
| 1.4) Minimum condition standards of the Goods | ||||||||
| On the date of purchase by the Buyer the Goods must: | ||||||||
| 1. Have less than 5000 miles recorded | ||||||||
| 2. Have been serviced in accordance with the manufacturers service schedule by a franchised | ||||||||
| dealer for the respective brand. | ||||||||
| 3. Not have any dents, holes, scratches or corrosion on any painted, laquered, bright finished, | ||||||||
| cast or formed parts. | ||||||||
| 4. Not have any tears, holes or scuffs to fabric or vinyl coverings. | ||||||||
| 5. Have a minimum of 2mm of tyre tread depth remaining on each tyre. | ||||||||
| 6. Have the Registration Document, Owners Handbook, Service Record Book, main and spare | ||||||||
| keys present. | ||||||||
| 7. Be in the original paint colours and to the original specifaction as built by the manufacturer, | ||||||||
| save for any modifications requested or imposed by the manufacturer. | ||||||||
| 8. Not have any sign or trace of accident impact damage. | ||||||||
| 9. Not have any trace of incomplete or sub standard repair or any repair using parts or methods | ||||||||
| other than those recommended by the manufacturer. | ||||||||
| 1.5) Upon completion of the Formal Inspection the Buyer will report to the Owner the condition | ||||||||
| standard determined by the Formal Inspection in the form of a written report detailing any | ||||||||
| dilapidations that contravene the standards detailed in paragraph 1.4. | ||||||||
| 1.6) The Buyer shall not be under any obligation to complete the purchase from the Owner until the | ||||||||
| Buyer has inspected the Goods. | ||||||||
| 1.7) If the Goods fail to meet the minimum condition standards described in paragraph 1.4 the | ||||||||
| Buyer may at his discretion take one of the following two options. | ||||||||
| a) Refuse to purchase the Goods | ||||||||
| b) Offer to purchase the Goods at a reduced price. | ||||||||
| 1.8) If the Goods are not presented to the Buyer for inspection and purchase on or before the Date | ||||||||
| of Expiry of the Term then the buyer will not be under any obligation to purchase the Goods after | ||||||||
| the Date of Expiry of the Term. | ||||||||
| TERMS AND CONDITIONS. Page 2 | ||||||||
| 1.9) If the Buyer wishes to exercise either option a) or b) in paragraph 1.7 or refuses to purchase | ||||||||
| the Goods under the terms of paragraph 1.8 then the Buyer will notify the Owner in writing within | ||||||||
| 48 hours of the date of Formal Inspection or Date of Expiry of the Term whichever is relevant. | ||||||||
| 2.0) If the Buyer pays the Purchase Price or a lower price mutually agreed between the two | ||||||||
| parties then the Owner shall pass to the Buyer such rights, title and interest to the Goods as the | ||||||||
| Owner has at the date of the Buyers purchase, but no better right, title or interest than the | ||||||||
| Owner obtained on paying the Original Purchase Price. | ||||||||
| 2.1) If the Owner has granted a lien or charge over the Goods by way of a loan or Hire Purchase | ||||||||
| debt then any money paid by the Buyer in respect of purchasing the Goods will first be used to | ||||||||
| reduce or satisfy the lien or charge. | ||||||||
| 2.2) If at any time the Goods become a Total Loss then the Buyer will no longer have any obligation | ||||||||
| to purchase the Goods or determine the contract in any way. | ||||||||
| 2.3) Notices shall be deemed to be properly served on a party hereto if delivered by hand or sent by | ||||||||
| First Class Letter Post to the last known address of the Owner. | ||||||||
| 2.4) The Owner shall not assign, transfer or delegate the benefit or burden of this agreement to | ||||||||
| any other person or body corporate. | ||||||||
| 2.5) Nothing herein shall operate to preclude any statutory or legal right of a consumer or other | ||||||||
| person. | ||||||||
