FAQ

Companies that offer their products for sale are called "Vendors".
Companies that bid in order to buy the above mentioned products are called "Buyers". 

How do I know if I am already part of the distribution network of a specific vendor?
Once you send them your request to bid for their products, you will know. If they deny it means you are already – one way or another – part of their network.

Is there a limit to the number of auctions I can participate?
Once the vendor / vendors has / have given you permission, there is no other limit.

Can I search for a specific product?
Vendors are offering us their excess products. If the product you are looking for has been offered to us, you can go to “Auctions” / “All Auctions” and limit down your search.

Can I name any price?
Yes. Moreover our B2B market place has been designed to generate maximum profit for the buyer. By selecting “Set Bid Limit” you name your maximum price of a specific auction and can rest assured that the system will keep bidding on your behalf up to your bid limit.

When should I pay my order?
Payment of the full amount should commence up to three(3) working days after receipt of the relevant Proforma Invoice.

How do I pay a LBT-Excess Proforma Invoice?
All payments are done through wire transfer only. We accept Euro(€) and USD($).

What are the Payment Terms for working with LBT Excess?
All deals are exclusively and non-negotiable paid in Advance.

Why do I have to pay in Advance?
All of the products offered, through Bids and Direct sales are First In-First Serve. This applies to financial terms. In other words, your claiming of a bid, or confirmation of an online deal is equal to a deposit towards us and you should treat it as such.

When do I receive an Invoice from LBT-Excess?
The next working day after pick up of products from the Manufacturer’s warehouse.

How many days after payment will I be able to pick up the products?
Varies for each Manufacturer

Is there a chance to receive different products or different quantities than those agreed and paid?
The percentage of fault for that kind of logistics centers is slim(+/- 10%). On such a case you can contact us and we solve any legitimate problem the next working day. Please note that if you face such an issue you must refer it immediately

If the final destination of the products is outside EU , who is responsible for issuing the necessary custom documents?
Custom Documents are entirely your responsibility if you pick up the products. If you use EXW but with our own forwarder then we can issue Custom Documents.