The following Transaction Rules are incorporated into and subject to the terms of the Buyer/Seller Agreements between Site Members and . Site Members agree to abide by such Transaction Rules as a condition of their use of the Site and their participation in the Site’s activities.
A. Transaction Rules – General
1) Only Site Members may buy or sell products and services through the Site.
2) Site Members must keep their User Name and Password confidential at all times.
3) Potential Sellers create a Transaction opportunity within the Site when a Buyer submits an RFQ to the Site Administrator and the Site Administrator thereafter posts the RFQ on the site for review and bidding.
4) A Transaction is concluded when the bidding period on a particular RFQ ends and the Buyer selects the Seller to produce the forged metal components on its behalf.
5) A Transaction is binding on both Buyer and Seller after Buyer selects the winning Seller and a confirming e-mail, or other confirming communication, is sent by the Site to Buyer and all Sellers participating in the Transaction opportunity identifying the selected Seller. The Transaction is binding on both parties on the terms contained within the Buyer’s RFQ and the Seller’s selected RFQ response, and such terms may not be unilaterally altered by any party.
6) Only those Transactions identified as “CONFIDENTIAL” in advance of, or contemporaneously with, the submission of an RFQ by Buyer, will be kept confidential by by and among Buyer, selected Sellers and .
7) Buyers determine which RFQs and other offers to purchase to make available to which Selling Site Members based on their own criteria.
8) reserves the right to revoke the access privileges of any Site Member.
9) All Site Members agree not to manipulate the price of any products or services offered on the Site, either through the use of shills, alias or decoys or by acting as another Buyer or Seller for the purpose of manipulating pricing or delivery of goods pursuant a particular RFQ.
Transaction Rules - Buyers
1) Buyers may post RFQs that are directed to one or more potential Sellers and Buyer has the responsibility to select the Sellers with which it wants to do business. Buyer has the ability to keep its RFQs confidential to itself, and a pre-approved list of Sellers.
2) Buyers can post an unlimited number of RFQs and consider an unlimited number of RFQ responses. Buyers, however, are solely responsible for their ability to meet all financial commitments made pursuant to any purchase orders.
3) Buyers initiate a Transaction by entering a RFQ into the Site, which is subsequently approved for distribution by the Site Administrator.
4) Buyers may choose to remain anonymous to potential Sellers during the RFQ process.
5) Buyers establish the deadline for Sellers to respond to their RFQs by setting the RFQ expiration date and time. Buyers may terminate the RFQ response period at any time, and without advance notice to the Sellers.
6) All RFQ responses (bids) must be made in U.S. dollars.
7) Buyers may respond to e-mail questions raised by Sellers as they attempt to prepare appropriate responses to the RFQ.
8) does not charge Buyers a Transaction Fee/Commission for buying products or services on the Site. The Seller in all Transactions pays a Transaction Fee/Commission.
9) Once a Buyer has determined that it wishes to know the identities of all of the Sellers that have responded to its RFQ, then the Buyer is required to make a purchase of the forged metal component that is the subject of the RFQ through the Site.
10) Site Members are responsible for paying all applicable taxes and for all hardware, software, services and other costs and expenses they incur to sell, buy or access the Site.
Transaction Rules – Sellers
1) Sellers will determine which Buyers are authorized to do business with them based on their own criteria. There is no requirement that a Seller respond to any RFQ, even an RFQ that is directed specifically to their company.
2) Sellers are solely responsible for validating the Buyer’s credit worthiness and buying authority based on their own criteria.
3) All RFQ responses (bids) must be in U.S. dollars.
4) Sellers are solely responsible for all Transaction Fees owed to the Site pursuant to their Seller Agreement. Seller’s obligation to pay the Transaction Fee arises at the time a binding purchase order between Buyer and Seller is concluded; but payment of the Transaction Fee by Seller to is not due until 30 days after the delivery date established in the RFQ. Payment is due to in U.S. dollars. Site Members are responsible for paying all applicable taxes and for all hardware, software, services and other costs and expenses they incur to sell, buy or access the Site. A Buyers or Seller’s breach of its obligations with respect to any Transaction does not and will not relieve Seller of its obligation to pay a Transaction Fee/Commission with respect to such breached Transaction.
5) Sellers can only sell their own products and services to Buyers through the Site.
6) Sellers may respond to any RFQ they can view on the Site, but it is the Seller’s responsibility to determine if it can produce the product that is required by the Buyer.
7) Sellers can determine the length of validity of an offer by setting the offer’s expiration date and time in their RFQ responses.
8) Sellers may submit multiple responses to a single RFQ.
9) Sellers can view RFQs by being selected by the Buyer to receive a copy of the RFQ or by searching the Site for RFQs that meet their production capabilities.
