stockBuz

Term of Use

www.stockbuz.com is operated by stockBuz (“stockBuz”). The following Terms of Use (the “Terms of Use”) apply to www.stockbuz.com website (the “Website”) and your use of the stockBuz trade service (the “stockBuz Service”) If you have any questions about these documents, please contact stockBuz.

stockBuz is only a Venue
1. Through the stockBuz Service and Website, stockBuz is providing a venue for Suppliers to offer Goods for sale at a fixed price and for Potential Buyers to request or immediately purchase Goods. A Purchase Contract will be formed between stockBuz and the Buyer. In a sale Configuration, the Buyer is the first person whose offer at the Fixed Price was received by stockBuz. In a request for product configuration, the Buyer is the person who requested the product, and the Purchase contract is formed with stockBuz who act on behalf of Supplier whose Goods the Buyer agrees to purchase. The terms of the Purchase Contract will be set forth according to the said conditions stated clearly in the product description in the site. And the Sale Configuration or Request for Product Configuration relating to the Goods.
2. stockBuz will not be a party to any Purchase Contract and will have no obligations whatsoever under any Purchase Contract. stockBuz is not the agent of any Buyer, potential Buyer, Supplier or Potential Supplier for any purpose.
3. stockBuz is not responsible for the quality, safety or legality of Goods offered through the stockBuz Service, the truth, accuracy, or completeness of descriptive Information supplied by the Suppliers or Potential Suppliers, or for the performance of any supplier or Buyer under a Purchase Contract.
4. stockBuz is not responsible for verifying the identity or creditworthiness of, or conducting any other due diligence with respect to, any Supplier, Potential Supplier, Buyer, Potential Buyer or other user of the stockBuz Service.
5. stockBuz and each of its Strategic Partners are independent contractors and not partners or joint ventures. stockBuz will not be responsible or liable for the actions or omissions of any Strategic Partners, nor for the performance or non-performance by a Strategic Partner or obligations owed to any Supplier, Potential Supplier, Potential Buyer, Buyer, or other third party.
6. stockBuz will not be obligated to any person to restrict or terminate any other person’s usage of the stockBuz Service and the Website.
Prohibited Items
User Registration
1. Only Registered Users may use the stockBuz Service.
2. The stockBuz Service is a business to business service, and the persons not engaged in business or commerce, along with minors and other parties who are unable to form contracts, are not eligible to become Registered Users. No Registered User may use the stockBuz Service for personal, family, or household purposes.
3. Each Registered User
  1. will provide User Information that is accurate and complete when provided;
  2. will update its User Information as necessary to keep it accurate and complete; and
  3. will not impersonate any other person or entity, operate under an alias or otherwise conceal its identity, or misrepresent his or her employment by or affiliation with any other person or entity.
4. Each Registered User is responsible for maintaining the security of its Registered User name and password, and will immediately notify stockBuz of any unauthorized use of its Registered User name or password. Each Registered User is responsible for any actions taken through use of such registered User’s name or password.
5. stockBuz may in its sole discretion
  1. reject any person’s application to become a Registered User;
  2. terminate such person’s status as a Registered User (whether Supplier, Potential Supplier, Potential Buyer, Buyer, or more than one of the above);
  3. decline to accept a Supplier’s Sale Configuration;
  4. decline to accept a Buyer’s Request for Product Configuration;
  5. decline to accept an Offer submitted by a Potential Buyer;
  6. decline to accept a Proposal Submitted by a Potential Supplier; or
  7. decline to accept a Counterproposal Submitted by a Buyer in response to a Proposal. stockBuz will give written or email notice of such action to such person.
Sales configuration
1. Suppliers may from time to time Submit sale Configuration to stockBuz. Each Sale Configuration will specify certain terms of sale, such as the quantity and the Fixed Price, and will also contain Descriptive Information related to the Goods.
2. Once stockBuz has accepted a Sale Configuration, it will be posted on the Website.
3. stockBuz reserves the right to arrange for a sale of Goods at the Fixed Price, without posting the Sale Configuration and putting the goods up for sale.
4. Supplier is exclusively responsible for the content of Sale Configurations Submitted by it, including the accuracy and completeness of the Descriptive Information contained therein. Supplier will list Goods in their appropriate international trade category.
5. Supplier’s Submission of a Sale Configuration represents an offer to sell the Goods at the Fixed Price (assuming that stockBuz has not sold the Goods at the Fixed Price prior to the sale). The preceding sentence notwithstanding, Supplier may at any time until a Potential Buyer Submits an offer at the Fixed Price elect to terminate the sale of Goods and withdraw the Goods from sale. Supplier will promptly notify stockBuz of its decision to terminate the sale. Supplier acknowledges that stockBuz may terminate a Supplier’s registration as a Supplier in the event such Supplier terminates on or more sales without good reason. If, prior to receiving an offer for the Goods at the Fixed Price from a Potential Buyer, stockBuz has not received email, fax or other written notice that Supplier has elected to terminate the sale, a Purchase Contract will be formed between Supplier and the Potential Buyer whose Offer is first received by stockBuz (who at that time becomes the Buyer).
6. stockBuz is not responsible for the content contained in a Sale Configuration. stockBuz will owe to no person a duty of diligence or due care to verify or substantiate such content, including without limitation descriptive Information.
7. stockBuz may without prior notice to Supplier or any Potential Buyer recategorize, reject, or delete Sale Configurations, or edit or delete Descriptive Information that stockBuz, in the exercise of its sole discretion, deems inappropriate, objectionable, scandalous, obscene, or otherwise objectionable. Notwithstanding the foregoing sentence, stockBuz will owe no affirmative obligation or duty of diligence or due care to any Registered User or any other person with respect to the rejection or deletion of Sale Configurations or the alteration or augmentation of Descriptive Information or other content included therein.
8. Each Supplier and Potential Supplier grants to stockBuz a non-exclusive, worldwide, revocable, royalty-free right to use, publish, display and sublicense (through multiple tiers) the matter contained in Sale Configuration Submitted by such Supplier or Potential Supplier, including without limitation Descriptive Information contained therein.
Request for Product Configuration
1. Buyers may time to time Submit Request for Product Configurations to stockBuz. Each request for Product Configuration will specify certain terms of sale, such as quantity, requested price, etc., will contain a description of the Goods sought, and will set forth the time period during which Proposals will be considered.
2. Once stockBuz has accepted a request for Product Configuration, it will be posted on the Website.
3. stockBuz reserves the right to arrange for a sale of Goods o terms acceptable to Buyer, without posting the request for Product Configuration.
4. Buyer is exclusively responsible for the content of Request for Product Configurations Submitted by it, and for the content of any Counterproposal it submits in response to a Proposal from a Potential Supplier.
5. Buyer’s Submission of a Request for Product Configuration represents a request that Potential Suppliers Submit Proposals for the Sale of the Goods to Buyer during such time period as is set forth in the Request for Product Configuration. The preceding sentence notwithstanding, Buyer may at any time elect to accept a Proposal and withdraw the Request for Product Configuration.
6. stockBuz is not responsible for the content contained in a Request for Product Configuration or a Counterproposal, stockBuz will owe to no person a duty of diligence or due care to verify or substantiate such content.
7. stockBuz may without prior notice to Buyer or any Potential Supplier recategorize, reject, or delete Request for Product Configurations or Counterproposals, or edit or delete Descriptive Information that stockBuz, in the exercise of its sole discretion, deems inappropriate, objectionable, scandalous, obscene, or otherwise objectionable. Notwithstanding the foregoing sentence, stockBuz will owe no affirmative obligation or duty of diligence or due care to any Registered User or any other person with respect to the alteration or augmentation of Descriptive Information or other content included therein.
8. Each Buyer grants to stockBuz a non-exclusive, worldwide, revocable, royalty-free right to use, publish, display and sublicense (through multiple tiers) the matter contained in a Request for Product Configuration or Counterproposal Submitted by such Buyer, including without limitation Descriptive Information contained therein.
Representations and Warranties of Suppliers and Potential Suppliers
1. Each supplier and Potential Supplier represent and warrants, for the benefit of stockBuz and each Potential Buyer, Buyer or other Registered User, that neither the Goods described in a Sale Configuration or Proposal Submitted by it (as the case may be), the offering, sale, use or delivery thereof, nor the Descriptive Information contained in the Sale Configuration or Proposal:
  1. Will infringe any third party’s copyright, patent, trademark, trade secret, or other proprietary rights;
  2. Will violate any law, statute, regulation, ordinance, order, directive, decree, or other legal process of the country of which Supplier or Potential Supplier is a resident or the country of origin of the Goods (including without limitation those governing export control, consumer protection, unfair competition, discrimination, false advertising, transportation of hazardous material, or use of pesticides);
  3. Will be defamatory, libelous, or unlawfully threatening or harassing, and/or violate any third party’s rights to publicity or privacy;
2. Each Supplier and Potential Supplier further represents and warrants, for the benefit of stockBuz and each Potential Buyer, Buyer or other Registered User, that
  1. the Descriptive Information contained in Supplier’s or Potential Supplier’s Sale Configuration or Proposal, as the case may be, is and will be a complete and accurate description in all material respects of the Goods referred to therein;
  2. the Goods referred to in the Sale Configuration or Proposal are not counterfeit or stolen;
  3. Supplier or Potential Supplier, as the case may be, has good and marketable legal title to the goods, free and clear of any lien, security interest, leasehold interest, co-ownership interest or any other type of encumbrance or interest of any other person or entity; and
  4. Supplier or Potential Supplier, as the case may be, has authority to list the Goods for sale through the stockBuz Service and to sell the Goods, consistent with applicable law.
Submitting Offers; Submitting Proposals
1. Submitting Offers:
  1. Registered Users who have registered as Buyers may in good faith Submit an Offer to purchase Goods listed in a Sale Configuration. Each Offer represents an offer by the Potential Buyer to buy the Goods at the price stated in the Offer stated in the Sale Configuration with respect to such Goods. An Offer will be irrevocable for three business days after made. However, if during the post-trade confirmation process it becomes apparent that the quantity of goods actually offered differs by more than 10% from the quantity described in the Sale Configuration, the Buyer may withdraw its Offer by giving prompt e-mail or fax notice to stockBuz.
  2. stockBuz reserves the right to cancel any Offer that stockBuz determines, in its sole discretion, (i) to be made not in good faith; or (ii) to be made not in accordance with applicable law.
  3. The Potential Buyer whose Offer at the Fixed Price is the first offer received by stockBuz will promptly arrange for the issuance a transferable letter of credit or T/T Payment through one of the certified Commercial Banks. The transferable letter of credit will be in the form approved by stockBuz for use in the connection with the stockBuz Service, and will provide for the payment of Product Price, fees of stockBuz and the applicable Strategic Partners.
Representations and Warranties of Buyers and Potential Buyers
1. Each Buyer and Potential Buyer represents and warrants, for the benefit of stockBuz and each Supplier and Registered User, that:
  1. it has actual authority to Submit a Request for Product, Counterproposal, or an Offer, as the case may be, and to enter into a Purchase Contract with respect to such Request of Product, Counterproposal, or Offer;
  2. it has the intention and ability to perform under the terms of any Offer it Submits,
  3. it has the intention and the ability to perform under the terms of any Purchase Contract that results from acceptance of any Offer by a Supplier of from its acceptance of a Proposal Submitted in response to a Request for Product or Counterproposal; and
  4. the purchase of the Goods by such Potential Buyer is not illegal or subject to embargo or sanctions in either the country where the Potential Buyer is located or in the country to which the Goods will be shipped.
2. Each Buyer further represents and warrants, for the benefit of stockBuz and each Potential Supplier, Supplier or other Registered User, nothing contained in a Request for Product Configuration or Counterproposal Submitted by it (as the case may be) will infringe any third party’s copyright or other proprietary rights, or will be defamatory, libelous, or unlawfully threatening or harassing, and/or violate any third party’s rights of publicity or privacy;
Conduct of Sales and Request for Product.
1. Sales will be conducted in accordance with the stockBuz’s Sales Policy.
2. Requests for Product will be conducted in accordance with the stockBuz’s Sales Policy
License to Use the Website and stockBuz Service.
1. stockBuz hereby grants to each Registered User a revocable, nontransferable, non-exclusive license to use the stockBuz Service and the Website solely for such Registered User’s internal purposes and pursuant to these Terms of Use and the Privacy Policy
2. Each Registered User agrees not to copy (except as necessary to use the stockBuz Service for Registered User’s own internal purposes), republish, retransmit, or otherwise distribute the pages comprising the Website, the content contained therein, or any component thereof.
3. Each Registered User will be responsible for acquiring at its own cost all communication lines and services and all equipment and technology necessary for such Registered User to access and use the stockBuz Service and the Website.
4. All intellectual property rights pertaining to the stockBuz Service or the Website (including without limitation copyrights, trademarks, service marks, patent rights, and trade secret rights) are owned or licensed by stockBuz. No Registered User will acquire any right therein in connection with its use of the Website and the stockBuz Service.
Linking, Framing, Bots, and Spiders.
1. The Website may from time to time display links to websites sponsored by third parties. stockBuz is not responsible for the content or operation of the third party sites, and the presence of such links does not imply that stockBuz endorses such sites or third party sponsors.
2. Parties other than stockBuz are authorized to include active links on websites they control directing a browser to the stockBuz Website’s “home page”; provided, however, that any use of stockBuz’s trademarks in such links will be subject to stockBuz’s policies regarding trademark usage. stockBuz does not authorize “deep linking” to interior pages on the stockBuz Website. The stockBuz Website may not be linked to in such a way that the pages of the Website are displayed within a frame, or are otherwise displayed on a browser screen accompanied by advertising or other content not found on the Website. No links to the stockBuz Website will imply an endorsement, agency, joint venture, or similar relationship between stockBuz and Registered User or any other party.
3. No Registered User or other third party is authorized to use bots, spiders, or other automated information-gathering devices or programming routines to “mine” Trade Configurations displayed on the Website, or all or any part of the information provided in such Trade Configurations, for display on a website or service not operated by stockBuz.
Trademarks
Fees
1. Each Registered User will pay stockBuz an annual Membership Fee. The Membership Fee will be invoiced to the Potential Supplier upon Registration. Payment is due within thirty (30) days after the invoice date, and late payment will result in termination of the Potential Supplier’s access to the stockBuz Service and Website. Membership Fees are not refundable upon termination of membership.
2. With respect to each Deal completion with the Potential Buyer, Supplier shall not have to pay stockBuz for any commission or additional fee after the sale.
3. Supplier will be paid directly by stockBuz at the final Price Configuration submitted to stockBuz prior the deal completion. The payment term must be subject to stockBuz’s Payment Policy.
4. Supplier authorizes stockBuz to collect all fees in U.S.Dollars or apply to the local currency as per prior agreement of both parties.
Registered User Conduct. A Registered User will not:
1. During its use of the Website or the stockBuz Service engage in conduct that is defamatory, libelous, threatening or harassing, or conduct that violates any third party’s rights of publicity of privacy;
2. Upload, post, publish, transmit, reproduce or distribute through the Website or the stockBuz Service any material or information that infringes any third party’s copyright, patent, trademark, trade secret or other proprietary rights;
3. Interfere with or disrupt the use of the stockBuz Service by any other Registered User, including uploading, posting, or transmitting any material that
  1. contains viruses, Trojan horses, worms, time bombs, cancelbots, or other computer programming routines that damage, interfere with, capture, intercept, or expropriate the stockBuz Service or the Website or any data contained therein; or
  2. disproportionately burdens the stockBuz Service, Website, or other Registered Users’ computer system;
4. Upload, post, publish, transmit or distribute through the Website or the stockBuz Service any unauthorized or unsolicited advertising, solicitations, bulk e-mails or spam, chain letters, pyramid schemes, investment opportunities, or offers for the sale of services or goods (except as may be permitted by the use of the stockBuz Service as provided for herein);
5. Use the stockBuz service or Website to gain unauthorized entry or access to other computer systems or networks; or f. Mirror the Website or any of its content on another server.
Termination. In its sole and absolute discretion, stockBuz may, with or without notice, restrict or terminate any person’s use of the stockBuz Service and the Website. Any termination of this Agreement will not relieve any person of obligations incurred prior to the effective date of such termination.
Price Manipulation/Bid Rigging: Collusion between Registered Users, or any form of price manipulation is strictly prohibited. Supplier will not directly or indirectly place or cause to be placed bids on Supplier’s own Goods, or otherwise attempt to manipulate the market with respect to the trade of its Goods.
Taxes: Supplier, and not stockBuz is responsible for calculating, paying, reporting, colleting, and remitting sales, use, or other transactional taxes that may be assessed, due or owing to taxing authorities with respect to sales of Goods. Supplier will defend, indemnify, and hold stockBuz harmless from and against and taxes, and penalties and interest relating to such taxes, assessed against stockBuz with respect to the sales of Supplier’s Goods.
Indemnification.
1. Each Potential Supplier, Supplier, Potential Buyer, Buyer or other Registered User agrees to indemnify and hold stockBuz and its officers, employees, and agents harmless from and against any claim, loss, damage, liability, judgment, fee or expense (including without limitation reasonable attorney’s fees and other costs of defense) arising from or relating to
  1. (if a Potential Supplier or Supplier) the Descriptive Information and other content of such Supplier’s Sale Configuration or such Potential Supplier’s Proposal, as the case may be, and any modification thereof, including without limitation the accuracy and completeness of the Descriptive Information included therein;
  2. (if a Buyer) injuries to persons or property that relate to Goods purchased by Buyer, or the transportation, installation, or use thereof, and that occur after transfer of title to the Goods to Buyer; and
  3. (if a Potential supplier, Supplier, Potential Buyer, Buyer, or Registered User) any breach of such Supplier’s Potential Supplier’s or such Buyer’s or Potential Buyer’s or such Registered User’s obligations under these Term of Use, the stockBuz’s Regulations, or the Purchase Contract formed between Supplier and Buyer.
2. In any proceeding as to which a right of indemnification exists, stockBuz will be entitled to be presented by counsel of its choosing, and will be entitled to settle any such action on commercially reasonable terms without obtaining the consent of the indemnifying party.
Disclaimer of Warranties.
Limitation of Liability.
Release.
Arbitration.
Notices.
General.
- No Agency. The relationship between Registered Users, Potential Suppliers, Suppliers, Potential Buyers and Buyers, on the one hand, and stockBuz on the other hand, is that of independent contractors. The parties do not intend to create any relationship of agency, partnership, joint venture, employee-employer, dealership, or franchiser-franchisee, and no such relationship is created by this document.
- Compliance with Laws. All Registered Users, Potential Suppliers, Suppliers, Potential Buyers and Buyers will comply with all applicable laws, statutes, ordinances, and regulations regarding use of the stockBuz’s Service. Suppliers will be responsible for compliance with export laws and regulations, and for securing all applicable export licenses required to export Goods.
- Governing Law. This contract will be governed by the Uniform Commercial Code as adopted in the State of Bangkok Metropolis, Thailand, and by the other internal laws of the State of Bangkok Metropolis. Unless otherwise agreed between the parties, a Purchase Contract will not be governed by the United Nations Convention on Contracts for the International Sale of Goods.
- Sever ability. If any provision of these Term of Use is held by a court of competent jurisdiction to be invalid or unenforceable, such provision shall be reformed only to the extent required to render it valid and enforceable, and the remainder of these Terms of Use shall continue in full force and effect.
- Waiver. Any waiver by stockBuz of the performance or satisfaction of any provision hereof will not be considered to be a waiver of any other similar or dissimilar covenant or condition hereunder, nor will it be considered a continuing waiver of the same provision in the future.
- Entire Agreement. These Terms of Use, together with the stockBuz Rules state the entire agreement between stockBuz and its Registered Users, and all prior and contemporaneous agreements and understandings are merged herein and superseded hereby. These Terms of Use may not be amended except by stockBuz as provided herein.
Definitions.
1. A “Buyer” is a Potential Buyer, who,
  1. in the case of a Sale Configuration Submits the First Offer at the Fixed Price that is received by stockBuz, and
  2. in the case of a Request for Product configuration, requests that Suppliers Submit offers for the sale of certain Goods.
2. “Commission” means the fee payable by the Supplier pursuant in connection with the sale of Goods.
3. “Counterproposal” means the response sent by a Buyer to Potential Supplier in order to negotiate further the terms of a Proposal.
4. “Descriptive Information” means text, photographic, graphical, and other descriptive material Submitted by Supplier describing or relating to Goods. “Descriptive Information” includes, without limitation,
  1. specifications, dimensions, number, make model, location, and condition rating;
  2. information concerning the condition of Goods;
  3. information regarding applicable manufacturer warranties;
  4. information regarding authenticity of the Goods; and
  5. any other representation or warranty with regard to the Goods, whether made in the Trade Configuration or outside the context of the Trade Configuration.
5. “Fixed Price” means the price specified by the Supplier for sale of Goods in a Sale Configuration.
6. “Goods” means goods listed by a Supplier for sale through the stockBuz Service or requested by a Buyer for sale through the stockBuz Service. Gods may be listed either as individual items or as a lot.
7. “Fixed Price” means the price specified by the Supplier for sale of Goods in a Sale Configuration.
8. “Goods” means goods listed by a Supplier for sale through the stockBuz Service or requested by a Buyer for sale through the stockBuz Service. Gods may be listed either as individual items or as a lot.
9. “Membership Fee” means the fee payable by the Supplier pursuant upon registration as a Supplier and annually thereafter.
10. “Offer” means an offer to purchase Goods through the stockBuz service for a fixed price that is Submitted by a Potential Buyer in response to s Sale Configuration. All Offers are subject to the stockBuz Rules and Settlement Procedures.
11. A “Potential Buyer” is a Registered User who has registered with stockBuz as a Buyer.
12. A “Potential Supplier” is a Registered User who has registered with stockBuz as a upplier.
13. “Price” means the price specified by the Supplier for sale of Goods in a Sale Configuration.
14. “Strategic Partner” means third party service providers who offer services through the stockBuz Service. Services provided include customs brokerage, escrow, transportation, inspection, and a letter of credit and other financial services.
15. “Proposal” means an offer to sell Goods through the stockBuz Service, at the price and on the terms stated in such offer, that is Submitted by a Potential Supplier in response to a Request for Product Configuration. All Proposals are subject to the stockBuz Rules.
16. “Purchase contract” means the contract that is formed between Supplier and Buyer to purchase and sell the Goods offered through a Trade Configuration.
17. “Registered User” means a person who has accepted these Terms of Use and the stockBuz Rules through completing stockBuz’s registration process, and who has received an e-mail or other written notice from stockBuz confirming the user’s registered status. A “Registered User” may be a Potential Supplier, a Supplier, a Potential Buyer and/or a Buyer.
18. “Request for Purchase Configuration” is the form Submitted by a Buyer that constitutes the Buyer’s request for Suppliers to Submit offers to sell the described Goods according to the terms set forth therein.
19. “Sale Configuration” is the form Submitted by a Supplier that constitutes the Supplier’s offer to sell the described Goods for a Fixed Price.
20. “Submit” means to provide stockBuz with any data, including without limitation any registration information or Trade Configuration data, whether by means of the Internet, telephone, fax, or otherwise. A “Submission” means the act of Submitting any such data.
21. A “Supplier” means a Potential Supplier who
  1. in the case of a Sale Configuration, offers to sell Goods or
  2. in the case of a Request for Product Configuration, is the Potential supplier whose offer to sell Goods is accepted by the Buyer.
22. “Trade Configuration” means a sale Configuration, Request for Product Configuration or a Proposal. u. “User Information” means all information Submitted by a Registered User in connection with the registration process and in connection with its use of the stockBuz Service. “User Information” includes, without limitation, information identifying the Registered User.

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