| The iDirect Process |







1. Introduction

iDirect is IBC Japan's exclusive auction search engine for IBC Japan and Autoterminal.com customers.

Customers can access Japanese auctions directly without the cost and inconvenience of coming to Japan.

iDirect is a proven and effective tool allowing the customer to be in the right place at the right time, ALL THE TIME.

2. Auction Data

iDirect receives vehicle information and photos from all the major Japanese auction databases, and then translates the data into English.

Auction data from all the auctions is consolidated and made available through iDirect's search engine, allowing customers to access, and bid on, over 90 auctions and 150,000 vehicles per week.

3. Ordering

After logging in customers can search the database for their inventory requirements and select vehicles and submit prices for them as active bids.

IBC's iDirect Customer Service Centre confirms customer deposits and orders each day.

A deposit of ¥100,000 is required to submit bids on the service. This deposit is held independent of the active trading account and is returned or credited when the service is no longer required. To use the service the customers account must be up to date including payment for all shipped vehicles and deposits for vehicles unshipped. If needed customers are encouraged to pay their accounts or submit their deposits by bank transfer or credit card through IBC Japan's online secure payment service (credit card link).

IBC reserves the right to push the customers bid up to ¥20,000 over the total FOB or C&F price. Computerized auctions often push the price a little over the price last bid so this amount will cover the over-amount in these cases when necessary.

4. Purchasing

After bids and deposits are confirmed iDirect buyers inspect and bid on the vehicles at the auctions. Five to fifteen auctions are attended daily across Japan.

Customers get responses on their orders within 24 hours, allowing them to monitor their orders and alter bidding when necessary.

Sales personnel will contact customers to keep them informed of a vehicle's condition and options, as the auction sheets are not always correct.

Each day all bids are responded, and the customer is informed if the bid was successful or not.

Condition Grading Variance Reminder

IBC's grading system is more stringent than the grading provided by the auction houses in Japan. Each auction house has their own standards of grading and are not consistent with each other.

Please do not be alarmed if the grading on IBC's system has a .5 difference from the original auction grade you see on iDirect. If you bid on a grade 4.0, your vehicle may receive a grade 3.5 on IBC's system with little variance in the expected condition. Our buyers make sure that the grade you see is consistent with an IBC grade within a margin of .5. If the vehicle has a full 1.0 grade difference, we will consider a negotiated discount or accept cancellation.

When placing bids, please pay close attention to the auction sheets and include any reservations in your comments to instruct our buyers on specific concerns you may have on each vehicle. As of the end of November 2004, we will have on-line translations for all auction sheets available 24/7 for your convenience, which will aid you in understanding the information shown on the auction sheets prior to placing your bids.

5. Inspection

Vehicles purchased via iDirect are transported to Autoterminal Japan, in Nagoya, for an independent survey of the vehicle.

If the vehicle has accident damage or obvious faulty mechanical condition, IBC will return the car to the auction with no risk to the customer who made the bid. All iDirect vehicles are also covered by IBC's guarantee under our terms of trade. Read about IBCJapan Quality Control

After inspection and confirmation, vehicles are shipped through the Nagoya port to the destination port of the customer.