Standing erect with the barbell held with a snatch grip and feet at hip width. Slide bar upwards along the body to near shoulder height. Once at shoulder height rotate elbows underneath the bar and continue to move bar upwards by pressing it into a catch position
It looks alright for a bargain-basement priced rack, although I wouldn't expected it to survive if I had to bail out on a heavy squat and dropped the bar from a couple of inches, or for doing rack-pulls (since a bar dropped can easily have more impact than 350kg when static). But any rack is better than no rack at all (especially if benching).
Personally, If I was getting a rack I would get this one http://www.gymdirect.com.au/item/HPR...r-Rack/355.htm but it may be well out of your price range. But if I was really strapped for cash then that looks as good as any of the other 350kg rated racks i've seen.