Merchant Agreement
This Merchant Agreement (referred to as “Contract”) is made between INTEGRATED BAZAARR CONCEPT LIMITED located at No. 2 Chike Street, Off NTA, Mgbuoba Road by New Nation Junction, Obio/Akpor Local Government Area, Rivers State, Nigeria (referred to as “MARKETPLACE”) and You (hereinafter referred to as “VENDOR/VENDORS”.
WHERE:-
- INTEGRATED BAZAARR CONCEPT LIMITED is an online market place for the purchase, sale and leasing of equipment in the oil and gas, Marine, Agriculture and construction industry, with a 100% (one hundred percent) digital approach.
- The Vendor has approached INTEGRATED BAZAARR CONCEPT LIMITED to assist it sell/lease its equipment(s) in its Marketplace.
- In consideration of the above, both INTEGRATED BAZAARR CONCEPT LIMITED and the vendor have agreed to enter into this agreement under the following terms and conditions and covenants below;
1.0 ACCEPTANCE OF AGREEMENT;
1.1 This agreement is an electronic contract that sets out the legally binding terms of advertising on the Marketplace. By registering to advertise on the Marketplace, the Vendor consents to have this agreement provided to him in electronic form.
1.2 By filling the form blow correctly and submitting, the Vendor agrees to this agreement.
1.3 INTEGRATED BAZAARR CONCEPT LIMITED agrees to the terms and conditions outlined in this agreement with respect to purchasing and placing Banners on the Marketplace. This agreement constitutes the entire and only agreement between INTEGRATED BAZAARR CONCEPT LIMITED and supersedes all prior or contemporaneous agreements, representations, warranties and understandings with respect to the Marketplace, the content, products, referrals or services provided by or through the Marketplace and the subject matter of this agreement.
2.0 AMENDMENT;
2.1 This Agreement may be amended by INTEGRATED BAZAARR CONCEPT LIMITED from time to time with notice to Vendors.
2.2 Vendors have the right to receive this Agreement in non-electronic form by sending a written request.
2.3 Any product listed for advertising must be in the form and substance acceptable to INTEGRATED BAZAARR CONCEPT LIMITED.
2.4 The Vendor states that he/she has the Right to enter into this agreement with INTEGRATED BAZAARR CONCEPT LIMITED and everything listed on the Marketplace in any currently existing or future formats will not
(a) Violate any right of any third party, including but not limited to any copyright, trademark, patent or right of publicity or privacy
(b) contain any statement that is false, misleading, malicious, libelous or defamatory, or
(c) violate any applicable law, rule or regulation.
2.5 INTEGRATED BAZAARR CONCEPT LIMITED, in its sole discretion has the right to refuse or reject any Listing(s) submitted that do not meet our publishing requirements.
3.0 PAYMENT;
3.1 INTEGRATED BAZAARR CONCEPT LIMITED shall pay the vendor the fee owed for purchase of equipment seven (7) days after purchase, this is to allow ampule time for prospective customers who choose to return their goods to do so and be refunded.
4.0 COMMISSION;
Below are the commission rates on any equipment INTEGRATED BAZAARR CONCEPT LIMITED sells or leases for the Vendor.
|
PRICE RANGE |
APPLICABLE COMMISSION |
|
N0.00 – N9,999.99 |
10% |
|
N10,000.00- N499,999.99 |
8% |
|
N500,000.00- N999,999.99 |
7% |
|
N1,000,000.00- N9,999,999.99 |
6% |
|
N10,000,000.00 – N49,999,999.99 |
5% |
|
N50,000,000.00- N99,999,999.99 |
4% |
|
N100,000,000.00 and above |
3% |
5.0 LIMITATION OF LIABILITY;
5.1 Under no circumstances shall INTEGRATED BAZAARR CONCEPT LIMITED be liable to Vendor or any third party for indirect, incidental, consequential, special or exemplary damages (even if advertised of the possibility of such damages) arising from this agreement, such as but not limited to, loss of revenue or anticipated profits or lost business, cost of delay, or liabilities to third parties arising from any source.
5.2 INTEGRATED BAZAARR CONCEPT LIMITED disclaims any and all representations and warranties, including any regarding merchantability, fitness for particular purposes, suitability and compliance with laws, quality or otherwise, with respect to the Marketplace.
5.3 INTEGRATED BAZAARR CONCEPT LIMITED shall have no liability in all cases resulting from events that are beyond its reasonable control.
5.4 In no event shall INTEGRATED BAZAARR CONCEPT LIMITED be liable in any way for an amount greater than the applicable rate card or promotional discount value paid by or owed Vendor.
6.0 INTERLECTUAL PROPERTY RIGHTS;
6.1 Neither INTEGRATED BAZAARR CONCEPT LIMITED nor the Vendor will acquire any ownership interest in each other’s intellectual property. INTEGRATED BAZAARR CONCEPT LIMITED shall have the right to place her logo, trade name and trademark on any advertising done on the marketplace and to otherwise use such items in connection with the purpose of this Agreement.
7.0 LEGAL COMPLIANCE;
7.1 The Vendor agrees to comply with all applicable domestic and international laws, status ordinances and regulations regarding the use of the Marketplace, it’s content and materials provided therein.
8.0 FORCE MAJURE;
8.1 Neither INTEGRATED BAZAARR CONCEPT LIMITED nor Vendor shall be liable to the other for any failure or delay in its performance due to any cause beyond its sabotage, labour shortage or dispute, internet interruption, government acts and other smaller events.
9.0 MISCELLANEOUS;
9.1 This Agreement and all incorporated agreements and Vendor information may be automatically assigned by INTEGRATED BAZAARR CONCEPT LIMITED at its sole discretion to a third party in the event of an acquisition, sale or merger.
9.2 Should any part of this Agreement be held invalid or unenforceable, that portion shall be construed consistent with the applicable law and the remaining portion shall remain enforced and in effect. To the extent that anything in or associated with the Marketplace is in conflict or inconsistent with this agreement, this agreement shall take precedence. INTEGRATED BAZAARR CONCEPT LIMITED failure to enforce any provision of this Agreement shall not be deemed a waiver of such provision nor of the right to enforce such provision. The provision of this Agreement relating to payment of any fees or other amounts owed indemnification, confidentially, limitations of liability and intellectual property shall survive any termination or expiration of this Agreement. The terms of this Agreement are the confidential information of INTEGRATED BAZAARR CONCEPT LIMITED. The language in this Agreement shall be construed as to its far meaning and not strictly for or against either construed as to its far meaning and not strictly for or against either party.
