Claims Policy

Together with SBT CO., LTD.’s (SBT) Terms of Trade (Terms), this Claims Policy (Policy) governs how SBT receives, reviews, and decides claims submitted by you. This Policy is not an insurance policy or seller’s warranty and does not modify the Terms

Through this Policy and the Terms, SBT applies the description-and-defect framework reflected in commercial law and international sale-of-goods conventions.

SBT’s description of a car includes, as applicable, SBT-issued Vehicle Information Sheet, any website listing, nonparty-issued auction or inspection sheets, photos and video materials, and any additional information that SBT or its authorized representatives provide you orally or in writing.

This Policy applies to only claims about cars’ condition and does not apply to claims about payment, shipping, or other transaction matters.

SBT handles claims in this sequence:

1. claim notice

2. initial screening

3. submission

4. review and investigation

5. decision

6. resolution

   A claim proceeds to the next stage only if it satisfies the requirements of the prior stage.

Under the Terms, delivery occurs and risk passes on carrier receipt. Damage or loss is presumed to occur after delivery unless evidence shows the condition existed before delivery. Claims for missing parts or accessories must be supported by applicable commercial and transport documents.

SBT accepts claims from only the SBT-customer accountholder stated on the invoice and may require identity verification.

You must submit a claim notice within 15 days of POD ATA (Actual Time of Arrival) and 50 km or equivalent odometer units of the odometer reading stated in the description. Late and overdriven claims are rejected.

Claim notice must identify the subject car, briefly state the claimed condition, and be sent through SBT’s designated claims channel.

On receiving a claim notice, SBT screens the claim to confirm the claim is within scope, timing is satisfied, and the claimed condition is not obviously excluded. Claims failing initial screening are rejected without further review. For claims passing initial screening, SBT will issue a submission link and instructions for submitting supporting materials.

Within 15 days of SBT issuing the submission link, you must provide

• photos and one continuous video showing the claimed condition, stamped-in chassis number, and odometer reading;

• a repair estimate from an SBT-approved auto-repair service;

• applicable commercial and transport documents; and

• any other information or materials SBT reasonably requests. Incomplete claims are rejected.

For PODs where an estimate from an SBT approved auto-repair service is not reasonably available within the POD area, SBT may accept two independent repair estimates from bona fide commercial auto-repair services acceptable to SBT.

You must preserve the claimed condition and not alter, discard, or repair the affected part before review, except as necessary for safety. SBT may reject claims where cars are altered, resold, or manipulated in any way that affects investigation or causation.

You must not perform repair without SBT’s preauthorization. Unauthorized costs are not reimbursed.

SBT reviews claims based on the materials you submit, the transaction record, and SBT’s own investigation. SBT may request additional materials or clarification.

Claims are decided at SBT’s sole discretion, but reasonably and in good faith. SBT alone decides if a claim is valid, if repair or reimbursement applies, and the amount of reimbursement.

To decide claims, SBT looks at whether the claimed condition:

• matches the description at sale;

• was disclosed, visible, or reasonably inferable;

• is consistent with age, mileage, condition grade, prior use, or normal wear;

• could reasonably be detected at auction or stock inspection without test driving, lifting, or removing panels or parts

• existed on delivery.

Claims are either accepted, rejected, or rejected with commercial accommodation, and SBT may request further information and substantiating documentation before issuing a decision.

If SBT accepts a claim, SBT will authorize repair by an SBT-approved auto-repair service or reimburse reasonable repair costs supported by evidence of completed repair, subject to the cap and other conditions in this Policy.

Repair must be performed by an SBT-approved auto-repair service for the POD, unless SBT approves an alternate auto-repair service where SBT-approved repair is unavailable. SBT will not reimburse repair performed by any other party. Repair must be completed within the time and specifications SBT states in its authorization. SBT must verify the repair before reimbursement.

Reimbursement is based on reasonable repair costs supported by evidence of completed repair and will not exceed the amount stated in SBT’s repair authorization.

Reimbursement will not exceed 20% of the invoice price of the subject car.

Claims are not reimbursed for normal wear, age, or use; disclosed or visible condition; damage or loss after delivery; inspection failure or import issue; carrier or nonparty act or omission; indirect or consequential loss; or for high-variability cars where defect assessment or repair outcome is inherently unpredictable due to age, parts availability, or repair complexity, including cars older than 15 model years.

For rejected claims, SBT may, in its discretion, offer repair, reimbursement, credit, or other resolution as a commercial accommodation. Commercial accommodation offers expire after 15 days, do not constitute an admission of liability, and are case-specific without creating precedent. You must accept any commercial accommodation as full and final settlement and waive further claims arising from the claimed condition.

You must submit any claim in good faith and with accurate and complete information. If your claim involves misrepresentation, altered or staged evidence, material omission, or other bad-faith act, you shall pay SBT stipulated (i.e., liquidated) damages of three times the invoice price of the subject car. You acknowledge this amount is a reasonable forecast of actual damages arising from fraudulent claims, investigation time, administrative costs, and resulting harm to SBT’s claim-handling system, not a penalty. SBT may file a civil lawsuit in your home jurisdiction to recover those stipulated damages and any other costs and losses recoverable by law.

SBT’s claim decision is final.