Terms of Service
1. TERMS OF SERVICE AGREEMENT
A. Terms and Definitions
Tradeloop Corporation (“Tradeloop” or “we”) provides its Tradeloop service (the “Service”) to you as a registered subscriber or authorized user (“Member” or “you”), subject to the terms of this agreement. This document is a binding agreement we shall refer to as “terms” (you may access this contract at any time online through the ‘your account' section). These terms comprise the entire agreement between Tradeloop and you, superseding any prior agreements between you and Tradeloop with respect to its subject matter. Additionally, you may be subject to additional terms and conditions that may apply when you use additional services (e.g., international and other dealer areas), third-party content or software. Additional terms and conditions include but are not limited to the “Member Directory License Additional Terms” set forth below as Section 13 and “Member Listing Additional Terms” set forth below as Section 14.
B. Change of Terms
Tradeloop may change these terms at any time. You agree to review the terms periodically to be aware of such changes. If any change is unacceptable to you, you may terminate your membership as provided in Section 10 below. Your continued use of the Service following the Effective Date of any such change to the terms constitutes acceptance of all such changes.
In addition, Section 15 of these Terms (Transaction System Terms and Conditions) may be updated independently on a more frequent basis to reflect changes in our transaction process. The date of the last revision for Section 15 will appear at the start of that section. By engaging in any transaction on or after the “Last Updated” date specified in Section 15, you agree to be bound by those revised Transaction Terms. If any change is unacceptable to you, your only recourse is to cease using the transaction features of Tradeloop.
2. YOUR ACCOUNT INFORMATION
A. Registration Validity
You agree to provide Tradeloop with accurate, complete, and current registration information. Failure to do this shall constitute a breach of this agreement and unauthorized access to the Service. Unauthorized access to the Service could result in immediate termination of your account and subject you to civil and criminal liability. Unless you have prior written authorization from Tradeloop, you may not register for additional accounts.
B. Logins and Passwords
By registering as a Member, you will receive a password and login. Either may be used to identify you to the Service, and logins may occasionally be used as a ‘screen name' online. You may not select or use a login or screen name of another person (unless it is also your name), a name in violation of a third party's property rights, or a screen name that Tradeloop deems offensive or otherwise inappropriate. Tradeloop owns all logins and screen names and licenses them to you. Additionally, you may not use your login or screen name in violation of the terms or in ways Tradeloop deems inappropriate (e.g., sending or causing to be sent mass email solicitations). Tradeloop reserves the right to delete any such login or screen name or to request deletion.
C. Usage
You are entirely liable for all activities conducted through your login. A Member may permit another individual in the same organization (company, corporation, etc.) to use the Member's accounts subject to the following limitations: The Member must agree to (1) supervise the other individual's use of the Member's accounts, (2) assume any and all resulting liabilities of such use, including responsibility for any and all content accessed on the Service or the Internet, and (3) acknowledge that the decision to allow another individual to use the account is made by the Member and not Tradeloop. You may not permit usage of the account by individuals in another organization, including any parent, subsidiaries, or affiliates; they must obtain their own separate login.
D. Termination
Members who have had their membership terminated may not access the Service without Tradeloop's prior express written (including email) permission. Members may not allow a former Member or other agent whose membership has been terminated to use their account. For additional information on re-registration and multiple accounts, see Section 10 below.
E. Members agree to abide by the Tradeloop Code of Business Practices and Ethics, as specified at: http://www.tradeloop.com/ethics
3. CHARGES AND BILLING PRACTICES
A. Charges
You may obtain current rates and surcharges for using the Service by calling Tradeloop's Customer Service at 1-888-946-5667 or by selecting “Billing” in the “Your Account” section. Billing rates do not include any sales, use, value-added, personal property, or other governmental tax or levy imposed on goods or services billed to Members account. You are responsible for any such taxes.
B. Billing Cycle – Credit Cards
If you have elected to pay for the Service by credit card and Tradeloop does not receive payment from the card issuer or its agents, you agree to pay all amounts due upon demand by Tradeloop. Each time you use the Service you agree and reaffirm that Tradeloop is authorized to charge your designated card or withdraw funds via electronic funds transfer from your checking account, whichever situation applies. Your card issuer agreement governs your use of your designated card in connection with the Service, and you must refer to that agreement and not these terms with respect to your rights and liabilities as a card holder. You agree that Tradeloop may, at its option, accumulate charges incurred during your billing cycle and submit them as one or more aggregate charges during or at the end of each cycle for electronic funds transfer from your checking account or credit card as applicable. This means that accumulated charges may appear on the statement you receive from your bank or card issuer. Further, you agree that Tradeloop may delay obtaining authorization from your card issuer until submission of the accumulated charges. You acknowledge that if you want to see the components of accumulated charges you may do so by calling customer service at 1-888-946-5667.
C. Late Payment
If Tradeloop does not receive the full amount of your account balance within thirty (30) days of the invoice date, an additional 1.5% (or the highest amount allowed by law, whichever is lower) per month late charge may be added to your bill and immediately become due and payable. Member shall be liable for all attorney and collection fees arising from Process efforts to collect any unpaid balance of your account(s). You agree to be billed for and to pay any outstanding balance in the event of cancellation or termination of your account. Unless you notify Tradeloop of any discrepancies within ninety (90) days after they first appear on your account statement, they will be deemed acceptable by you for all purposes, including resolution of inquiries made by your card issuer. You release Tradeloop from all liabilities and claim of loss resulting from any error or discrepancy that is not reported to Tradeloop within ninety (90) days of its publication.
D. Billing Changes
TRADELOOP RESERVES THE RIGHT, AT ANY TIME, TO CHANGE ITS FEES AND BILLING METHODS, INCLUDING THE ADDITION OF SUPPLEMENTAL FEES OR SEPARATE CHARGES FOR ONLINE AREAS, CONTENT, OR SERVICES PROVIDED BY TRADELOOP OR ITS AFFILIATES, EFFECTIVE THIRTY (30) DAYS AFTER AN ONLINE POSTING IN THE BILLING AREA OF THE SERVICE (AGAIN, IN THE “BILLING” SCREEN OF THE “YOUR ACCOUNT” SECTION). TRADELOOP MAY ALSO ELECT, AT ITS DISCRETION, TO SUPPLEMENT SUCH NOTICE OF BILLING CHARGES THROUGH POP-UPS OR EMAIL TO YOUR LOGIN OR SCREEN NAME OR THROUGH THE U.S. MAIL TO THE MASTER ACCOUNT HOLDER. If any such change is unacceptable to you, you may terminate your membership as provided in Section 10 below. Your continued use of the Service following the Effective Date shall constitute your acceptance of such change. Your membership fees are payable in advance and are not refundable in whole or part.
E. You are responsible for all charges associated with connecting to the Service through the internet.
4. RIGHTS AND RESPONSIBILITIES
A. Content
You acknowledge that:
- The Service may contain parts listings, parts information, company information, company listings, Member communications, software, graphics, logos, photos, video, sounds, and other material and services (collectively “Content”);
- Such Content is provided by other Members, Tradeloop and its affiliates;
- At minimum, Tradeloop owns a copyright in the selection, coordination, arrangement, and enhancement of such Content.
Each Member and any user of Members account must evaluate, and bear the risk associated with any reliance on the accuracy, completeness or usefulness of any Content. Tradeloop does not pre-screen Content as a matter of policy; however Tradeloop and its affiliates shall have the right, but not the responsibility, to remove Content that they deem harmful, offensive or otherwise in violation of these terms. Accordingly, you acknowledge that neither Tradeloop, its affiliates, nor any other Member shall assume or have any liability for any action or inaction by Tradeloop or its affiliates, or any other Member, with respect to Content on, or Content changes within, the Service.
B. Proprietary Rights
You acknowledge the following:
- Tradeloop permits access to Content that is protected by copyrights, trademarks, and other intellectual and proprietary rights (“Rights”);
- These Rights are valid and protected in all media and technologies existing now or later developed; and
- Except as explicitly provided otherwise, these terms, applicable copyright, and other laws govern your use of Content (see the Rules, Section D, for details).
You agree that you may upload to the trading floor, software files, message boards, or otherwise transmit on or through the Service only Content that (1) is not subject to any Rights, or (2) any holder of Rights has given express authorization for distribution on the Service. You represent that if you upload any files, you have the legal authorization to do so. You agree that Tradeloop may employ virus-checking technology to protect its system and its Members from viruses. You also permit any Member and authorized user to access, display, view, store, and reproduce the Content for personal use. Subject to the foregoing, the owner of Content placed on the Service retains any and all Rights that may exist in such Content.
C. Conduct and Communication
You recognize that communication over the Service often occurs in real time or is posted on one of the Service's message boards or libraries. You acknowledge that Tradeloop cannot, and does not intend to, screen communication in advance for accuracy or conformance to these terms or any laws. However, Tradeloop may elect, at its sole discretion, to monitor some, all, or none of the Service's areas for adherence to these terms. Accordingly, you acknowledge that neither Tradeloop, its affiliates, nor any Member shall assume or have any liability for any action or inaction by Tradeloop, its affiliates, or any Member with respect to Content on the Service. Any conduct by a Member that in Tradeloop's sole discretion restricts or inhibits any other Member, person or entity from using the Service or another service shall entitle Tradeloop to immediately terminate membership without notice. You agree to use the Service only for lawful purposes. You may not use, or allow others to use, your account, either directly or indirectly, to:
- post, transmit, or promote any unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, hateful, racially, ethnically or otherwise objectionable Content;
- harass, threaten, embarrass, or cause distress, unwanted attention or discomfort upon another Member or user of the Service or other person or entity;
- post, transmit, promote, link, or facilitate the distribution of Content which is deemed by Tradeloop to be offensive;
- disrupt the normal flow of postings on any trading floor or database view of parts listings, or of any dialogue on a message board or otherwise act in a manner that negatively affects other Members, users, individuals or entities, such as repeat postings of erroneous part numbers or any action to a similar disruptive effect;
- impersonate any person or entity, including, but not limited to, a Tradeloop official or another Member, or communicate under a false name or a name that you are not entitled or authorized to use.
- post or transmit, or cause to be posted or transmitted, any unsolicited advertising, promotional materials, or other forms of solicitation to other Members, individuals or entities, except in those areas that are expressly designated for such a purpose.
- post or transmit, or cause to be posted or transmitted, any communication or solicitation designed or intended to obtain password, account, or private financial information from any Member;
- intentionally or unintentionally violate any applicable local, state, national, international or foreign law, including, but not limited to, any rules or regulations having the force of law.
- attempt to circumvent the established Tradeloop process or to divert Tradeloop users to another website or communication process, including the use of email or the inclusion of hyperlinks, URLs, or web addresses within any email messages or any product/listing description fields, with the exception of messages sent member-member through the communications system, where you are allowed to exchange contact info to enable communication offline.
You also agree and accept that as new products become available on or through the Service, your use of these products is subject to these terms. In addition to Content and services provided by members, Tradeloop, and its affiliates, others may offer Content, software or other services to Members with their own terms and conditions relating to your use. Failure to abide by these terms and conditions may result in termination of membership. Furthermore, yet-to-be-developed areas may subject Members to their own usage policies.
5. PRIVACY POLICY
See Privacy Policy.
6. INTERNATIONAL CONTENT AND THE INTERNET
A. International Listings
You acknowledge that your use of the Service allows access or will allow access to international listings and possibly areas containing Content originating from Tradeloop and its affiliates, other Members and users of the Service, as well as other third parties which may originate from countries other than the United States. Your access to and use of the International Areas and International Content will be governed (in addition to these terms) by separate terms and operating policies and applicable national laws and customs.
B. Internet
Neither Tradeloop nor its affiliates shall be held responsible or liable, directly or indirectly, for any loss or damage caused or alleged to have been caused by your use of or reliance on any content, goods or services available through the Service or Internet sites accessed through the Service, or your inability to access the Service or any of its sites. This paragraph's provisions shall apply with equal force even where the Service features or displays a link with any particular Web site. Accordingly, Tradeloop and its affiliates specifically disclaim any responsibility or liability for any conduct, content, goods and services available on or through the Service or Internet sites linked to by the Service (including, without limitation, any part of the Web). Tradeloop retains the right, but not the obligation, at its sole discretion and without prior notice or liability, to restrict and/or terminate a Member's access to the Service if in Tradeloop's sole discretion, your use violates any applicable law or regulation, any prohibitions on your conduct, or otherwise inhibits any other user from fully utilizing the Service. Additionally, Tradeloop retains the right, but not the obligation, in its sole discretion and without prior notice or liability, to block or otherwise limit the distribution within the Service of mass email solicitations or other Internet content.
7. SOFTWARE LICENSES
Tradeloop grants to you a non-exclusive, limited license to use the Service from any location in accordance with this agreement. This license is subject to the restriction that, except where expressly permitted by law, you may not translate, reverse-engineer or reverse-compile or decompile, disassemble or make derivative works from, the Service or Tradeloop's software. You agree and accept that Tradeloop's introduction of various technologies may not be consistent across all platforms and/or web-browsers (e.g., Macintosh or AOL).
8. NO WARRANTY; AS IS; LIMITATION ON LIABILITY
MEMBER EXPRESSLY AGREES THAT THE USE OF THE SERVICE AND TRADELOOP SOFTWARE ARE AT MEMBER'S SOLE RISK. THE SERVICE, TRADELOOP SOFTWARE, AND TRADELOOP PRODUCTS ARE PROVIDED “AS IS” AND “AS AVAILABLE” FOR YOUR PERSONAL AND CORPORATE USE, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, UNLESS SUCH WARRANTIES ARE LEGALLY INCAPABLE OF EXCLUSION. TRADELOOP PROVIDES THE SERVICE ON A COMMERCIALLY REASONABLE BASIS AND DOES NOT GUARANTEE THAT MEMBERS WILL BE ABLE TO ACCESS THE SERVICE AT A TIME OR LOCATION OF THEIR CHOOSING, OR THAT IT WILL HAVE ADEQUATE CAPACITY FOR THE SERVICE AS A WHOLE OR FOR PARTICULAR PRODUCTS. TRADELOOP DOES NOT ENDORSE, WARRANT OR GUARANTEE ANY PRODUCT OR SERVICE OFFERED THROUGH THE SERVICE, EXCEPT AS EXPRESSLY PROVIDED ELSEWHERE, AND WILL NOT BE A PARTY TO OR IN ANY WAY MONITOR ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.
Under no circumstances shall TRADELOOP, its employees, affiliates or contractors be liable for damages that result in any way from any use of your account or the Service or your inability to use the Service or your reliance on or use of services or product provided on or through the Service or that result from mistakes, omissions, interruptions, deletion of information, errors, defects, delays in operation or transmission, or any failure of performance.
To the maximum extent permitted by law, under no circumstances and under no legal theory, tort, contract, or otherwise, shall we be liable to you or any other person for any money damages, whether direct, indirect, special, incidental, cover, reliance or consequential damages, even if we shall have been informed of the possibility of such damages, or for any claim by any other party.
In the event that notwithstanding the foregoing, we are found liable to you for damages from any cause whatsoever, and regardless of the form of the action (whether in contract, tort (including negligence), product liability or otherwise), our liability to you will be limited to the greater of $1,000 or the amount you paid for the Service in the twelve month period preceding your claim.
Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so this limitation and exclusion may not apply to you.
9. INDEMNIFICATION
Member agrees to defend, indemnify and hold harmless Tradeloop, its affiliated companies, its employees, contractors, officers, directors, telecommunications providers, members from all liabilities, claims and expenses, including attorneys' fees, that arise from the use of the Service, from the breach of these terms or by use of, or in connection with, the transmission of any Content on the Service by or through Member's master or sub-accounts. Tradeloop reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by Member hereunder. In such event, Member shall have no further obligation to provide indemnification for such matter.
10. TERMINATION
A. Either you or Tradeloop may terminate your membership at any time. This is your sole right and remedy with respect to any dissatisfaction with the Service, including, but not limited to, (1) any term, policy or practice of Tradeloop in operating the Service, (2) Content available through the Service or change therein, or (3) any amount or type of fees, surcharges, billing methods, or change therein. You can terminate your membership by delivering notice to Tradeloop's Customer Service Department at 1-888-946-5667. Your termination will take effect within a reasonable time after Tradeloop's receipt of your notice as described above.
B. In the event that your account is terminated or canceled, no refund will be granted. Members whose accounts Tradeloop has terminated may not access the Service without Tradeloop's prior express written permission. Active Members may not allow former Members or other agents whose memberships have been terminated to use their accounts. Any delinquent or unpaid accounts or accounts with unresolved issues with Tradeloop must be concluded before you may re-register with Tradeloop. Members using multiple accounts without prior express written permission from Tradeloop shall have their membership terminated.
11. LAW; GENERAL
A. The laws of the Commonwealth of Massachusetts, excluding its conflicts-of-law rules, govern these terms and your membership. As noted above, Member conduct may be subject to other local, state, and national laws. Member expressly agrees that exclusive jurisdiction for any claim or dispute resides in the courts of the Commonwealth of Massachusetts. Member further agrees and expressly consents to the exercise of personal jurisdiction in the Commonwealth of Massachusetts in connection with any dispute or claim involving Tradeloop.
If any part of the terms is held invalid or unenforceable, that portion shall be construed consistent with applicable law to reflect, as nearly as possible, the original intentions of the parties, and the remaining portions remain in full force and effect.
These terms are personal to you and may not be assigned or transferred by you to any third party. If you are using the Service on behalf of a business entity, these terms bind you and the entity on whose behalf you are agreeing.
12. LEGAL NOTICES
Under California Civil Code Section 1789.3, California Members are entitled to the following specific consumer rights information:
- Pricing Information. Current rates for using Tradeloop may be obtained by calling 1-888-946-5667. Tradeloop Corporation reserves the right to change fees, surcharges, monthly membership fees or to institute new fees at any time upon thirty (30) days prior notice, as provided for in the terms of Service at Section 3.
- Complaints. The Complaint Assistance Unit of the Division of Consumer Services of the Department of Consumer Affairs may be contacted in writing at 1020 N. Street, #501, Sacramento, CA 95814, or by telephone at 1-916-445-1254.
13. MEMBER DIRECTORY LICENSE ADDITIONAL TERMS
Access to Tradeloop's Member Directory may be granted at Tradeloop's discretion on the additional following terms. These terms are in addition to and not in substitution of the above Terms of Service Agreement.
A. General. Tradeloop grants a non-exclusive limited license to you (the “Directory Customer” or “you”) or the entity on whose behalf you are agreeing (but not any parent, subsidiaries, or affiliates) to access the Tradeloop Member Directory (the “Directory”) and data in the Directory (“the Data”) for the following limited purposes and uses.
B. Permitted Use. The Directory and the Data, as licensed pursuant to these terms, will be kept confidential and will be used only for your internal purposes, limited to accessing online information about Members, or to make contact or communicate with Members, or for the purpose of facilitating transactions through the Service.
C. Restrictions on Use. You may NOT use the Member Directory to create marketing lists of any kind (“Lists”). You may not: (a) copy or otherwise reproduce the Member Directory in computer readable or human readable form; or (b) alter, modify, or adapt the Member Directory, including but not limited to, translating, or creating derivative works. You may not directly or indirectly sell or disclose Member Directory data to third parties. Tradeloop monitors usage of the Member Directory and reserves the right to restrict usage to prevent harvesting of lists, and to revoke access to the Directory.
D. Duration of License. You may access the Member Directory in accordance with these terms so long as you are a Member in good standing. Usage requires an account paid in full and a yearly subscription for the Service.
E. Proprietary Rights. The Data has been compiled and authored by Tradeloop. You acknowledge and concur that the Data contains confidential information that derives independent economic value, actual or potential, from not being generally known to other persons who could obtain economic value from its use. The Data is therefore the subject of efforts which are reasonable under the circumstances to maintain its secrecy. Your use of the Directory consistent with the restrictions on use above to make one-to-one contact or one-to-one communication with individual entities identified through the use of the Data (not to be used as noted above as a marketing list) is a permitted activity and does not violate your obligation to keep the Data confidential. You may retain information, data, or facts you obtain as a result of third-party responses to your use of the Data. You agree that you will not do anything that would impair Tradeloop's copyright or other proprietary rights in the Directory or any portion of the Directory. You may not grant access to the Directory to any person or entity other than your employees or authorized agents. If you grant access to the Directory to your employees or authorized agents, you shall give them notice of the confidential, proprietary and legal interests held by Tradeloop in the Directory and of the prohibitions on unauthorized disclosure or dissemination of all or any part of the Directory. Tradeloop retains all rights not expressly granted. Nothing in these terms constitutes a waiver of Tradeloop's rights under U.S. copyright laws or any other federal or state laws.
14. MEMBER LISTING ADDITIONAL TERMS
Access may be granted at Tradeloop's discretion on the additional following terms. These terms are in addition to and not in substitution of the above Terms of Service Agreement.
A. Responsibility. You may act as a vendor or a prospective buyer and may enter into correspondence with, and/or conduct transactions with other users. Any such content, correspondence or transaction, including the delivery of all goods and services, and any other terms, conditions, are solely between you and such other user.
B. Posting Listing. You may post listings on the Service under your login so long as you continue to comply with the following terms and conditions:
- You must be a Member in good standing with no posted ethics complaints.
- You guarantee the item is in stock and available for single piece sale to end-users.
- You list a retail price and honor that price. Wholesale price must be less than the Retail price.
- You must have a stated warranty and return policy posted on the site.
- You must classify your items according to the grading conditions as shown in the listings section, or otherwise provide your own detailed definition. You warrant that each item is properly classified.
- You may not create a listing that attempts to circumvent the established Tradeloop communication process or that diverts Tradeloop users to another website or communication process. This may include the use of email or the inclusion of hyperlinks, URLs, or web addresses within any email messages or any product/listing description fields.
Definitions and References
- “terms” = The Terms of Service
- “Tradeloop” = The Tradeloop service
- “Tradeloop Corporation” or “we” = Tradeloop Corporation
- “Member” or “you” = A registered subscriber or authorized user of Tradeloop
- “Effective Date” = Thirty (30) days after the date of the last terms change as posted in the terms of Service area
- “Content” = Information, parts listings, communications, software, photos, video, graphics, sounds and other material and services, collectively
- “members” = Independent providers of Content
- “Rights” = Copyrights, trademarks, and other intellectual and proprietary rights
15. TRANSACTION SYSTEM TERMS AND CONDITIONS
Last Updated (Transaction Terms): January 07, 2025
Hierarchy of Terms:
These Transaction System Terms and Conditions (“Transaction Terms”) supplement and are incorporated into the overall Tradeloop Terms of Service (“TOS”). In the event of any direct conflict between these Transaction Terms and the general TOS specifically regarding a buyer-seller transaction, these Transaction Terms will prevail. For all other matters, the general TOS applies.
15.1 Scope of Transaction Terms
These Transaction Terms govern all interactions between Buyers and Sellers concerning inquiries, negotiations, offers, POs, invoices, payments, shipping, inspection, and fulfillment. These terms are supplementary to the Tradeloop.com Terms of Service and any other applicable policies. In case of conflict about transaction-related matters, these Transaction Terms will control.
15.2 Definition of “Transaction”
A “Transaction” means any interaction on Tradeloop.com between two users (acting as Buyer and Seller) that involves inquiry, discussion, negotiation, offer, purchase order, invoice, payment, or delivery of goods or services, including any related dispute resolution process.
15.3 Inquiries and Negotiations
15.3.1 Inquiries:
Buyers and Sellers may exchange inquiries to clarify product details, price ranges, shipping options, and other transaction-related aspects. If no response is provided within the stated timeframe (e.g., four calendar days), the inquiry will expire.
15.3.2 Offers and Counter-Offers:
All offers and counter-offers must be made in good faith, reflecting accurate pricing, availability, and terms.
15.3.3 Expiration of Negotiations:
If either party fails to respond within the applicable timeframe (e.g., four calendar days), the offer or negotiation will expire, and neither party is obligated to continue. Failure to respond may negatively affect the Buyer or Seller profile on Tradeloop.com, including a decrease in Seller ranking or impact on the Buyer/Seller score.
15.3.4 Sharing of Contact Information:
Users are prohibited from sharing personal contact information (email, phone number, etc.) within the messaging system. All communication must occur exclusively through Tradeloop.com's transaction system to ensure a well-documented negotiation history. Violation of this provision may result in account suspension or removal.
15.4 Purchase Orders (POs)
15.4.1 Issuance by Buyer:
A PO is a formal, binding offer from the Buyer, indicating intent to purchase specific goods or services under the negotiated terms. By issuing a PO, the Buyer acknowledges the terms as final, pending Seller acceptance.
15.4.2 Seller Acceptance Period:
The Seller has four (4) calendar days to accept a PO. If not accepted within this timeframe, the PO automatically expires, unless the Buyer agrees to extend the acceptance period.
15.4.3 Binding Agreement:
Once the Seller accepts a PO, both parties are bound to fulfill their obligations. The Buyer must make payment, and the Seller must deliver the goods or services.
15.4.4 Buyer Withdrawal:
The Buyer may withdraw a PO at any time before the Seller's acceptance, nullifying any pending agreement.
15.4.5 Seller Decline:
The Seller may decline the PO within the acceptance period, releasing both parties from obligations.
15.4.6 Seller Non-Response:
If the Seller does not respond within three (3) days, the PO expires, and neither party is bound by its terms. Failure to respond may negatively affect the Buyer or Seller profile on Tradeloop.com, including a decrease in Seller ranking or impact on the Buyer/Seller score.
15.5 Invoicing and Payment
15.5.1 Seller Issuance of Invoice:
Upon PO acceptance, the Seller must issue an invoice that accurately reflects the agreed terms.
15.5.2 Buyer's Payment Obligation:
The Buyer is obligated to pay the Seller upon receiving the invoice and completing any necessary inspection. Payments must be made within the timeframe stipulated in the PO or invoice. Failure to pay within the designated period may result in transaction cancellation.
15.5.3 Partial Payments and Overpayments:
The Seller must notify the Buyer of partial payments, and the Buyer is responsible for paying the remaining balance. In cases of overpayment, the Seller must refund the excess promptly.
15.5.4 Currency and Taxes:
Unless otherwise agreed, all payments are in USD, and the Buyer is responsible for shipping costs and any applicable taxes, duties, or fees.
15.6 Shipping, Delivery, and Inspection
15.6.1 Timely Delivery:
The Seller must ship the goods by the agreed-upon date. Failure to do so may entitle the Buyer to claim non-performance.
15.6.2 Inspection Period:
Upon receiving the goods, the Buyer has four (4) calendar days to inspect them for compliance with the agreed specifications. For large or complex orders, an extension of up to seven (7) calendar days may be requested.
15.6.3 Acceptance or Rejection of Goods:
If the goods pass inspection, the Buyer will authorize payment and consider the transaction complete. If the goods fail inspection, the Buyer must promptly notify the Seller to resolve the issue.
15.6.4 Fund Management and Release of Funds:
If no dispute is raised within the inspection window (or any agreed extension), Tradeloop will automatically instruct Stripe Connect to release the held funds to the Seller. For standard transactions, funds will be released on the fourth (4th) calendar day after delivery. For extended inspection periods, funds will be released on the eighth (8th) calendar day after delivery, provided no disputes are raised.
15.7 Buyer and Seller Obligations
15.7.1 Seller Obligations:
- Deliver the goods or services according to the PO terms, including agreed-upon quality, quantity, and shipping details.
- Provide the Buyer with a tracking number or proof of shipment within four (4) business days of shipment.
- Issue an invoice matching the PO terms precisely.
- Non-Compliance: Failure to fulfill the PO terms may result in withheld funds, penalties, or account restrictions.
15.7.2 Buyer Obligations:
- Pay the full invoice amount using the designated payment method.
- Promptly inspect the goods upon receipt and report any discrepancies within the inspection window or any agreed extension period.
- Authorize the release of funds through Tradeloop once the goods meet the agreed specifications.
- Non-Compliance: Failure to fulfill the PO terms may result in penalties or restrictions on the Buyer's account.
15.8 Dispute Resolution
15.8.1 Direct Resolution:
Buyers and Sellers must attempt to resolve any disputes directly and in good faith.
15.8.2 Tradeloop Involvement:
If direct resolution is not possible, the parties may involve Tradeloop's Customer Service or Ethics Committee for assistance. All activity must still comply with the Tradeloop Code of Business Practices and Ethics.
15.8.3 Binding Arbitration:
If unresolved, the parties agree to submit to binding arbitration under the rules of the American Arbitration Association (AAA) or other dispute resolution methods specified by Tradeloop. The arbitrator's decision is final and binding. This arbitration provision applies specifically to disputes arising from a transaction as defined in Section 15.2.
15.9 Liability and Indemnification
15.9.1 Tradeloop as Facilitator:
Tradeloop.com acts solely as a facilitator and is not liable for product quality, payment issues, shipping delays, or disputes arising from transactions.
15.9.2 Indemnification:
Buyers and Sellers agree to indemnify and hold Tradeloop.com harmless from any claims or losses arising from their transactions.
15.10 Force Majeure
Neither party will be held liable for delays caused by events beyond their control, such as natural disasters, government actions, or other force majeure events.
15.11 Governing Law
These Transaction Terms and any related disputes shall be governed by the laws of the Commonwealth of Massachusetts, USA, unless otherwise agreed. Arbitration shall also be conducted within Massachusetts unless otherwise agreed by both parties.
15.12 Amendments
Tradeloop.com reserves the right to modify these Transaction Terms at any time, independently of changes to the rest of the TOS. The “Last Updated” date for this Section 15 will be updated accordingly. Significant changes will be notified, and continued use of Tradeloop.com's transaction features after changes are posted constitutes acceptance of the revised terms.
By engaging in any transaction on Tradeloop.com, including making offers, issuing or accepting POs, and sending or paying invoices, you acknowledge that you have read, understood, and agree to these Transaction Terms, in addition to all other applicable policies and terms.
Last Updated: January 07, 2025