Terms & Conditions

The following are the Terms-and-Conditions between Inventryx Systems Private Limited (hereinafter referred to as "Tradexs”) and Trader for sale or purchase of ‘Trader’s excess inventory’, through Tradexs website (www.tradexs.in) on best efforts basis.

WHEREAS:

1. Tradexs owns and operates a B2B marketplace on the website located at the URL www.tradexs.in (hereinafter referred to as “Website”), which is used by various entities to facilitate buying and selling of excess inventory products, subject to certain terms and conditions mutually agreed by Tradexs and the Seller hereunder;

2. Trader is in the business of manufacturing and selling products such as the products listed on the website and sells or purchases items such as the ones listed on the website. A Trader is referred as the Seller or Buyer, who can interchange these roles, depending upon the nature of the transaction. A Trader will be referred to as a Seller when he lists items for sale on the Website. A Trader will be referred to as a Buyer when he shows interest in or buys items listed on the Website.

 

TRADEXS OBLIGATIONS TO SELLERS

1. Tradexs will facilitate and offer guidance in regard to creation of listing of goods for the purpose of selling on the website.

2. Tradexs will facilitate and market Trader’s goods to the potential Buyers on the website and through other offline and online mediums to the best of their abilities.

3. In case of any dispute between the Seller and the Buyer, Tradexs will try to resolve the same amicably.

4. Notwithstanding the above, while it is Tradexs principle goal to ensure that the items listed on its website are sold to a Buyer within shortest possible time, it does not offer any guarantee, explicit or implied, or promises to be able to liquidate/sell/conclude a deal, in full or in part, of products listed by a Trader within any stipulated period of time.

 

SELLERS’s OBLIGATIONS

1. The Seller shall provide Tradexs with information on the goods with detailed specifications and description of the products including location, quantity, quality, defects, special remarks or restriction, if any.

2. The Seller shall provide all relevant data including year of manufacturing, extent of usage, warranties, prices, production quantity, available inventory, etc. as per the format required by the website.

3. Once a Buyer has requested and confirmed for purchase of a listed product, the Seller is obliged to honor the transaction provided the deal is concluded within the validity of the listing period of the item in question to maintain the credibility of himself and the online transaction portal Tradexs.

4. The seller hereby authorizes Tradexs to use the Seller’s trademarks, logos, brand names and corporate name on the website and in any promotional material produced in connection with the website or listings thereon which, at appropriate time, will be used to enhance the salability of the listed product. Tradexs undertakes that the Trader’s information such as mentioned above would never be used in any manner detrimental to the interest of the Trader.

5. Exclusivity: It is hereby agreed that, with respect to any goods offered for sale on the website by the Seller, Tradexs shall be the sole and exclusive selling agent for a period the listing is active on Tradexs.in. The Seller hereby expressly undertakes that the Seller shall not, during such active listing period, offer such goods for sale through any other platform nor circumvent nor attempt to circumvent Tradexs by selling such goods to buyers directly. The seller expressly undertakes that, with respect to such goods, Seller shall not, during the period the validity of listing on website, solicit any buyers directly and that, should any buyer approach the Seller directly, the Seller shall immediately inform Tradexs and refer any such Buyer to Tradexs to take the negotiations and transactions forward.

6. Payment Terms: The seller will be issued a purchase order by Inventryx Systems Pvt. Ltd. along with final packing list and an estimated dispatch date. The Seller will dispatch the material as per written instructions from Tradexs. Post receiving confirmation from Buyer of satisfactory receipt of the product as per listing on the website, the transaction will be deemed complete. Tradexs will release the payment to the Seller as per payment cycle specified on the purchase order.

7. If material supplied by the Seller, does not meet the ordered/mutually agreed specifications (as per the purchase order), the Buyer can return the same in part or in full after pointing out the discrepancies, and upon Tradexs confirming the objection raised by the Buyer reasonable and sufficient, the Seller will then have to take back the material at the Seller’s cost. Any request by the Buyer for return of the material would be entertained within 7 days of material received by the Buyer.

8. Commercial Terms: Listing of items will charged be as per the prevailing rates mentioned on the website. Listing is free for 60 days from the date of registration provided the registration is done prior to 30th June 2016. This offer is at the discretion of Tradexs and can be withdrawn/altered anytime without prior notice to the Sellers. However, the terms on which certain listing packages have been purchased by the Sellers would be honored, and would remain unaffected until the validity of the package bought by the Seller, from any changes made in the fees structure subsequent to purchase of the package. Every transaction will be charged a transaction fee at the rate of 5% (five percent) on the total invoice value. The fee will be payable by Buyer or Seller or both, depending upon nature of transaction and terms agreed during the negotiations/placement of order. All applicable taxes and duties prevailing at the time of transaction would be charged extra. In case of any conflict between terms of MoU and that of Purchase Order, the Purchase Order terms would prevail.

9. The Seller confirms that he is the sole and undisputed owner of the products he has listed, and the products listed are of free and clear title without any encumbrances from creditors or other parties.

10. Tradexs, during its course of business, will bring Sellers and Buyers in contact to be able to trade excess inventory successfully. The Seller undertakes that they would not engage with such Buyers introduced to them by Tradexs for the purpose of trading non-moving stock and excess inventory in future and if they do identify excess inventory items they can trade between them, then the Seller assures to conclude such transactions through Tradexs only.

 

TRADEXS’ OBLIGATIONS TO BUYERS

1. Tradexs will facilitate and offer guidance in regard to purchasing of listed goods on website.

2. Tradexs will facilitate the potential Buyers on website and through offline and online mediums.

3. In case of any dispute between the Buyer and the Seller, Tradexs will try to resolve the same amicably.

4. Notwithstanding the above, while it is Tradexs endeavor to ensure that the items listed on its website are as per the specifications published by the Seller, it does not offer any guarantee, explicit or implied, or promises that the products would function/perform or operate as claimed by the Seller.

 

BUYER’S OBLIGATIONS

1. Once the Buyer decides to purchase the listed items, he should issue the purchase order along with full advance payment in the name of Inventryx Systems Pvt. Ltd., as mutually agreed with Tradexs, within a period of two working days in order to ensure delivery of the requested item.

2. In case the Buyer uses any value added services like testing, inspection, transportation charges etc., the cost of the same will be borne by the Buyer over and above the value of goods purchased.

3. The Buyer hereby authorizes Tradexs to use Buyer’s trademarks, logos, brand names and corporate name on the website and in any promotional material produced in connection with the website or listings thereon. Tradexs undertakes that the Trader information such as mentioned above would never be used in any manner detrimental to the interest of the Trader.

4. Any material return process must be initiated within 7 days from the date of material receipt at the Buyer’s premises. Material return request will only be entertained in case the material received doesn’t match the description on the website. Tradexs Dispute Resolution Team will work with both the Buyers and Sellers to clarify the necessary details.

5. As a Buyer, the Trader agrees that Tradexs will have sole right to cancel any transaction for any reason whatsoever not limited to system error, incorrect pricing, incorrect dispatch etc.

6. Payment Terms: A Buyer will issue purchase order along with payment, terms of which would have been mutually agreed between Buyer and Tradexs. In case of request for returns getting approved by the Tradexs Dispute Resolution Team, the Buyer will be refunded the payment completely, without any interest thereon, as per Tradexs payment cycle mentioned in the purchase order.

7. Tradexs, during its course of business, will bring Buyers and Sellers in contact to be able to trade excess inventory successfully. The Buyer undertakes that they would not engage with such Sellers introduced to them by Tradexs for the purpose of trading non-moving stock and excess inventory in future and if they do identify excess inventory items they can trade between them, then the Buyer assures to conclude such transactions through Tradexs.

 

TERM AND TERMINATION

These terms and conditions shall commence from the date of signing-up on the website, will remain in force unless either party serves notice to the other, of its intent to terminate this relationship. A 30-day prior notice will have to be given for such termination. No refunds will be made to the Trader of any amount paid to Tradexs by them in case the termination is initiated by the Trader.

 

INDEMNITY AND EXCLUSION OF LIABILITY

General Indemnity: The Trader shall at all times and to the complete satisfaction of Tradexs and without demur, at its own expense, indemnify, defend and hold harmless, Tradexs and its officers, directors, employees, associates, affiliates, successors, representatives, assigns and agents in respect of all payments (including but not limited to settlements) made by Tradexs, damages or penalties or awards imposed on Tradexs and costs (including but not limited to attorneys’ fees and court fees) incurred by Tradexs in relation to any claim by any Buyer or claims made by any person in relation to the services provided by Tradexs in terms hereof or the sale or delivery of any of the Trader’s products whether Tradexs is legally liable or not, and whether or not there has been any breach by Trader of any applicable consumer law or regulation whatsoever, and whether or not there has been any breach or alleged breach by Trader’s obligations, representations, or warranties hereunder.

 

CONFIDENTIALITY AND NON-DISCLOSURE

Each Party acknowledges that, as a result of signing these terms and conditions, it may have access to certain information about the other (revealing) Party or its business which each party agrees not to use in any manner, during the term of the agreement and even after its termination, detrimental to the interest of the revealing party and to keep all such information completely and absolutely confidential. Each Party agrees that it shall not disclose any such information to any third party without the other Party’s prior written consent.

 

GOVERNING LAW, JURISDICTION AND DISPUTE RESOLUTION

On the aspects where the understandings not covered by this MoU or for cases relating to deviation from these understandings, efforts would be made to resolve the issues through mutual dialogues and consultations between Tradexs and Trader. If such a resolution is not possible then the unresolved disputes and differences shall first be referred to a mutually agreed Arbitrator and then to the Court of Law under the Pune Jurisdiction. The decision of the Court of Law will be final and binding on the both the parties.