Introduction
These Terms of Service (the Terms) govern your use of the LGMU Container Trading website and any container purchase or container management arrangement you enter into with us. By using this website, or by buying a container through LGMU, you agree to these Terms. Where you sign a sale agreement or a management agreement with us, that signed document governs the arrangement and these Terms sit alongside it.
What We Do
Sale of Containers
LGMU Container Trading sells shipping containers and manages them on behalf of the owner. The specific unit, its grade, its container number and the purchase price are set out in a written sale agreement. Nothing on this website is an offer to sell a particular container, and availability is confirmed only in writing.
Enquiries and Quotes
Prices, rental rates and yields shown on this website, or given to you by email, are indicative and are valid only for the period stated in the quote. No sale, lease or management arrangement exists until the relevant agreement has been signed by both parties.
Container Management
Where you appoint us to manage your container, we place it with an operator, administer the lease, arrange inspection and repair, and collect and remit the rent to you. The full scope of that service is set out in the management agreement.
Ownership and Rent
Title
Title to the container passes to you on receipt of cleared funds, and the unit is identified by its container number in the sale agreement. It remains your property throughout the management term. We do not pool containers and we do not sell fractions of a unit.
Fixed Monthly Rent
Where the management agreement states a fixed monthly rent, that amount is payable to you for each full month the container is under management, on the payment date set out in the agreement. The rent is a contractual amount. It is not a share of profit and it does not vary with what an operator earns from the unit.
Term
Unless the agreement provides otherwise, the standard management term is 36 months from the date the container is first placed with an operator. Renewal, sale, or physical delivery of the unit at the end of the term is dealt with in that agreement.
Fees and Payment
Purchase Payment
The purchase price is payable in full before the container is released, unless a different schedule is agreed in writing. Bank charges and transfer costs are payable by the buyer.
Costs We Carry
Unless the agreement states otherwise, operator commission, routine maintenance, survey and repair, insurance and lease administration are borne by LGMU and are already reflected in the rent quoted to you. Any cost falling outside that list is chargeable only with your prior written approval.
Taxes and Duties
You are responsible for any tax, duty or reporting obligation that arises for you or your company as a result of owning the container or receiving the rent.
Condition, Inspection and Insurance
Condition at Purchase
Containers are sold in the grade stated in the sale agreement and, where applicable, with a condition report. You may inspect the unit yourself, or appoint a surveyor to inspect it, before completion. Once the sale completes, it is on the basis of the stated grade and the report supplied.
Damage and Repair
Damage arising in normal operation is handled under the management agreement, including recovery from the operator where the lease provides for it. We do not carry out chargeable work on your unit without your approval.
Insurance
Containers under management are covered by insurance arranged by LGMU against the risks described in the management agreement. That cover carries limits and exclusions and does not make the asset risk free.
Confidentiality and Records
Mutual Obligations
Each party will keep confidential the commercial terms agreed between us, and any non-public information disclosed in the course of the relationship. These obligations continue for two years after the relationship ends.
Your Records
Your ownership documents, condition reports, lease agreements, invoices and payout statements are available to you in the LGMU portal for as long as the unit is under management. Our handling of your personal information is described in our Privacy Policy.
Warranties and Limitations
What We Warrant
We warrant that we will manage your container with reasonable skill and care, and to the standards ordinarily applied in container leasing. We warrant that a container sold to you matches the description and grade recorded in the sale agreement.
Limitation of Liability
We do not guarantee the resale value of a container at any future date, and we do not guarantee that market rates after the end of a term will match the rate in the current agreement. Figures shown on this website are illustrations, not forecasts. To the maximum extent permitted by law, our total liability in connection with any container is limited to the amounts paid to us in respect of that container in the twelve months before the claim, and we are not liable for indirect or consequential loss.
Termination
Termination for Breach
Either party may end the management agreement on written notice if the other commits a material breach and fails to remedy it within 30 days of being asked to do so in writing.
Effect of Termination
On termination we will account to you for rent collected up to that date, hand over the container documents, and either arrange redelivery of the unit to you or, if you ask us to, offer it for sale. Any lease already in place with an operator continues until it expires or is lawfully ended.
General Provisions
Independent Parties
LGMU acts as your service provider and, in dealing with operators, as your agent to the extent set out in the management agreement. Nothing in these Terms creates a partnership, an employment relationship or a joint venture between us.
Governing Law
These Terms, and any agreement made under them, are governed by the laws of the United Arab Emirates as applied in the Emirate of Dubai. The courts of Dubai have jurisdiction, unless the signed agreement provides for arbitration.
Amendments
We may update these Terms. The version published on this page is always the current one, and material changes are notified by email to owners with containers under management.
Severability
If any provision of these Terms is found to be unenforceable, the remaining provisions continue in full force and effect.
Contact
For questions about these Terms, please contact us at info@lgmucontainers.com.
