PAYMENT TERMS AND GENERAL CONDITIONS
Projectmaterials offers an online shopping functionality to its Users: buyers can add products to a shopping cart, check out and submit orders to sellers; sellers review the incoming orders and confirm them online. Any other step (pick and pack, ship, invoice, warranty, and support) is executed offline, directly between the buyer and the vendor(s).
To give a clear and fair framework to buyers and suppliers exchanging orders on Projectmaterials, minimize negotiations and litigations, we have defined mandatory terms that apply to any order on the platform:
Mandatory Payment Terms
All orders on projectmaterials.com shall be paid as follows:
- products delivered from stock: 100% before the shipment by bank transfer
- products delivered to order (new production): 30% advance after order confirmation, 70% before the shipment (both by bank transfer)
- An irrevocable letter of credit at sight
Other terms are not valid unless accepted by the seller on a case by case basis.
Mandatory General Terms and Conditions
Any order on Projectmaterials is subject to the ICC terms and conditions of sales only (International Chamber of Commerce), which overrule any buyer or supplier's specific term.
Disputes and Governing Law
Parties agree to resolve any dispute with the ICC Arbitration services.
In general, the buyer shall take the consignment of the goods ordered on Projectmaterials and pay their price according to our terms. More in detail:
- buyer shall review the order accurately, before submitting it to supplier(s). Orders can be edited only before supplier(s) confirmation, not after
- any submitted order is binding for the buyer, but needs to be confirmed by the supplier. If supplier(s) reject the full order, the order is canceled. If supplier(s) confirm the order partly, the order is valid for the confirmed quantities and items
- buyer shall support the supplier(s) to execute the order
- buyer shall pay the agreed price for the delivered goods according to the Projectmaterials payment terms
In general, seller shall publish products "BUY NOW" accurately, confirm any order received promptly, and execute the order according to the confirmed terms. More in detail:
- seller shall have a valid Sales Agreement in place with Projectmaterials to publish products for sale and confirm orders
- all orders received by a seller are subject to seller's confirmation. A binding sales and purchase contract for both parties is established when seller confirms an order received by a buyer
- seller is expected to confirm any incoming order for its products published for sale, in the quantity, quality, price, and delivery time set in the product description. Some product may be out of stock from time to time, but, on average, seller shall keep a healthy ratio between the % of confirmed orders/received orders
- upon order confirmation, seller shall deliver the ordered products promptly and in alignment with buyer's order and order confirmation (quality, quantity and time) and provide pre-sale, sale and after-sale assistance to the buyer
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