SERVICE LEVEL AGREEMENT

This Service Level Agreement (“Agreement”) made & entered into by and between:

GOLDENBOND HOSPITALITY & ENTERTAINMENT PRIVATE LIMITED, a private Indian non-governmental company duly incorporated under the Companies Act, 2013 and having its corporate office at VPHC-02, Shipra Krishna Vista, Ahinsa Khand-2, Indirapuram, Ghaziabad - 201014 (hereinafter referred to as the “Service Provider” which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include all its successors and permitted assigns) of the First Part;

AND

The user / seller / vendor registered on the Portal www.localoption.in of the Second Part;

In the agreement the “Service Recipient” and the “Service Provider” may individually be called “Party” and collectively as “Parties”.

WHEREAS:

A.              The Service Provider is engaged in the business of facilitation operating an online marketplace platform (Local Option) for facilitating the sale and supply of goods and services by manufacturers and suppliers to consumers (“Business”) AND WHEREAS the Service Provider has expressed its ability and willingness to provide its Business services to the Service Recipient;

 

B.               The Service Recipient is engaged in the business of providing good & services to consumers.

 

C.              The Service Recipient is desirous of availing the services as specified in SCHEDULE A from the Service Provider, under this Agreement. (“Services”); AND

 

D.              The Parties, after discussions and negotiations, are hereby recording the terms and conditions as mutually agreed.

NOW THEREFORE, in consideration of the mutual benefits & responsibilities specified in this agreement, the receipt & sufficiency of which consideration is hereby acknowledged, it is hereby agreed and understood between the Parties hereto as follows:

1.                Definitions

In this Agreement, the following words and expressions shall have the following meanings unless the context specifies otherwise:

“Agreement” shall mean this Service Agreement;

“Business” shall have the meaning as ascribed to it in Recital A;

“Effective Date” shall mean the date of execution of this Agreement;

“End User” or “Consumer” shall mean any end user or consumer of the Service Recipient’s product or service who has purchased it or availed of it through the Service Provider’s Platform.

“Fulfillment Services” shall mean marketing solutions, logistics, shipping and packaging services including arranging for pick-ups and delivery services to be provided by the Service Provider in respect of the products or services (as may be applicable) being offered for sale by the Service Recipient through the Service Provider;

“Legitimate Reason” shall mean either of the reasons prescribed as valid by the Service Provider on its Platform for any exchange, return or refund activity;

“Platform” shall have the meaning ascribed to it in SCHEDULE A;

“Returns Period” shall mean a 14 day time period commencing from the date of receipt by the End User of the Service Recipient’s product/ service through the Service Provider during which period, the End User shall be entitled to request the Service Provider for an exchange or a refund upon return of the product purchased by it, provided that the Service Recipient has pre-authorized such refund or exchange.

In case the product is non returnable, the seller will not be liable to returns or exchanges.

“Returns, Exchange and Refund Policy” shall have the meaning ascribed to it at Clause 8;

“Service Fee” shall have the meaning as ascribed to it in SCHEDULE B;

“Service Recipient Account” shall mean the bank account of the Service Recipient as designated by it to credit all payments for product sales/service as and when such settlements become due in accordance with the terms of this Agreement. The details of the Service Recipient Account have been provided at PART C of SCHEDULE B;

“Services” shall have the meaning as ascribed to it in RECITAL C; and

“Third Party” shall mean any other entity or individual that is not a party to this Agreement.

 

2.                Scope Of Services

During the term of this Agreement, the Service Provider shall perform the Services as set forth in SCHEDULE A in accordance with the specifications, terms and performance standards set forth herein.

 

3.                Relationship Between The Parties

 

3.1             It is hereby mutually agreed between the Parties that for the purpose of this Agreement the relationship between the Service Provider and the Service Recipient is on a principal-to-principal basis and nothing contained in this agreement does nor shall it be deemed to create any joint venture, partnership or any relationship of principal and agent or master and servant or employer and employee between the Parties hereto or any affiliates or subsidiaries thereof or to provide either Party with any right, power or authority to create any such duty or obligation on behalf of the other Party.

 

3.2             The Service Provider has no connection or interest of whatsoever nature in the business of the Service Recipient and shall only provide the Services to the Service Recipient as an independent entity and under the terms and conditions stipulated in this Agreement. The Service Provider does not in any manner take part in the business of the Service Recipient, directly or indirectly.

 

3.3             The Service provider is not responsible whatsoever for any or all faulty products or services being offered to the consumers. Such responsibility is bestowed upon the Service Recipient who is responsible for the quality & authenticity of such product & services.

 

4.                Term

Unless renewed, this Agreement shall be effective from the Effective Date and shall continue for a period of 10 years thereafter, or until terminated in accordance with this Agreement, whichever is earlier.

 

5.                Obligations of the Service Provider

 

5.1             The Service Provider shall make reasonable endeavors to ensure that the Services are performed in a professional and competent manner, consistent with industry standards reasonably applicable to such Services.

 

5.2             The Services provider shall also collect & deposit all such taxes and fees that it shall be required for by the government from time to time.

 

5.3             The Service Provider shall ensure:

·        to work in compliance with the standards and guidelines agreed between the Parties; and

·        that all material regulatory/legal approvals required for the Services are in place.

 

 

6.                Obligations of the Service Recipient

 

6.1             Service Recipient is solely responsible for the accuracy of all information and / or validity of the prices and any other charges and / or other information relating to the Products and Services, which are offered through or included in the Service provider’s website.

6.2             The Service Recipient shall fulfill all orders for its products or services from the customers as and when provided in such manner that it can provided to the consumers in a usable manner.

6.3             The Service Recipient shall co-operate with the best possible effort for the performance of this Agreement.

6.4             The Service Recipient shall fulfill all orders in 2 working days after receiving the order. Failing to do such would make the Service Recipient liable to a 20% penalty on the order along with the commission that the Service Recipient was liable to pay in case the order is fulfilled.

6.5             The Service Recipient will provide one person to be called the point of contact that shall coordinate with the Service Provider’s personnel for all kinds of queries and provide necessary assistance to Service Provider’s team.

 

7.                Service Fee

 

7.1             With effect from the Effective Date, in lieu of the Services provided by the Service Provider, the Service Recipient agrees to pay to the Service Provider, the Service Fee, the manner and quantum of which has been detailed in PART A of SCHEDULE B.

 

7.2             The payment specified in clause 7.1 shall be made to the Service Provider by the Service Recipient on via net banking/RTGS/NEFT facility, or cash into the bank account of the Service Provider for which details have been provided in PART B of SCHEDULE B (“Bank Account”).

 

7.3             The Service Provider shall generate and submit invoices to the Service Recipient for the Service Fee and any out of pocket expenses incurred for the purpose of completion of Services under this Agreement, if any, along with the relevant receipts and documentary proofs (“Invoices”). The Invoices, as and when they are raised, shall become due and payable within 21 (Twenty One) days from the date of receipt of the Invoices by the Service Recipient.

 

8.             Disputes Regarding Products/Services.

 

The Service Recipient agrees that the Service Provider shall not be held responsible or liable for the quality or merchantability of the Service Recipient’s products purchased by the End User through the Service Provider. The Service Recipient further agrees that all risks associated with the products shall be solely that of the Service Recipient and not of Service Provider. Provided that any and all disputes of whatsoever nature whether in relation to deficient, improper or incomplete product/service provided by the Service Recipient including dispute regarding quality, quantity, merchantability, service or otherwise any other dispute, will be dealt with by and between the Service Recipient and the End User directly and Service Provider shall not be a party to such dispute

 

9.                Returns, Exchange and Refund Policy

 

9.1             In the event that any End User, expresses its desire to return or exchange the product (“Exchanged Product”) purchased by it through the Service Provider for any Legitimate Reason within the Returns Period, then:

 

9.1.1        Subject to availability of the Exchanged Product, the Service Provider shall affect the pick-up of the Exchanged Product (as the case may be) and deliver the new product, if applicable. The Service Recipient authorizes the Service Provider to affect the exchange of products in case the Exchanged Product is already lying in the stock with the Service Provider. In the event, the Exchanged Product is not available with the Service Recipient, then the Service Recipient shall within 2 days intimate the Service Provider of such non availability and the Service Recipient shall take all reasonable steps to make available the product within 7 days, from the date of such request being intimated to the Service Provider.

 

9.1.2        In case any request is made for refund (“Refund Request”) within the Returns Period, then, within 2 days from the date of the Refund Request, the Service Provider shall inform the Services Recipient about the Refund Request. The Service Recipient shall, within 2 days from the receipt of the Refund Request, confirm the Refund Request to the Service Recipient. Upon confirmation, the Service provider shall be entitled to deduct the amount of refund from the payments due and payable to Service Recipient. For avoidance of doubt, it is hereby clarified that in case the Service Recipient fails to confirm the Refund Request within the stipulated time frame, then the Service Provider shall automatically be entitled to deduct amount of refund from the payments due and payable to Service Recipient.

 

9.1.3        In case the Service Recipient disputes the Refund Request, then the Service Provider shall be entitled to deduct the amount of refund from the payments due and payable to Service Recipient and keep that money in escrow until such dispute is resolved between the Service Recipient and the End User. Such a deduction shall not be objected to by the Service Recipient in any manner whatsoever. In the event that the End User and the Service Recipient arrive at a settlement, the Service Provider shall deal with the said moneys in accordance with the terms of the settlement arrived at.

 

10.             Termination

 

10.1.        The Parties may terminate this Agreement at any time after the Effective Date and prior to the expiry of the Term if they mutually agree to do so in writing.

 

10.2.        Either of the Parties may terminate this Agreement by giving 3 months written notice to the other Party.

 

10.3.        If at any time after the Effective Date, there is any breach or non-fulfillment by either Party, then the aggrieved party may deliver a written notice to defaulting party which notice shall specify a period of 14 (Fourteen) days from the date of such notice to remedy a breach, deficiency or matter that is capable of being cured, and during such 14 (Fourteen day period the defaulting party shall have the opportunity to remedy such breach, deficiency or matter. If the defaulting party does not remedy the relevant breach, deficiency or matter to the reasonable satisfaction of the aggrieved Party by the end of the14 (Fourteen) day period, or if the relevant breach, deficiency or matter is incapable of being cured, a “Material Breach” shall be deemed to have occurred under this Agreement.

 

Upon the occurrence of a Material Breach, all obligations of the aggrieved Party towards the defaulting party shall automatically lapse without any further act, deed or thing on the part of any party; and the aggrieved Party may terminate this Agreement at any time, by delivering a written notice to the defaulting Party.

 

10.4.        The termination of this Agreement shall not affect the rights or liabilities of either Party incurred prior to such termination. In addition, any act performed during the term of this Agreement which may result in a dispute post termination or any provision expressed to survive this Agreement or by nature survives this Agreement or to be effective on termination shall remain in full force and effect notwithstanding termination. Subject to the other Clauses of this Agreement, both Parties undertake to settle all outstanding payments on or prior to the date on which the termination takes effect. Any outstanding stock of the Service Recipient’s products remaining with the Service Provider shall be gotten picked up and cleared by the Service Recipient pursuant to the settlement of all accounts as aforementioned.

10.5.        All materials, documentation, guidelines, letters, writings, pamphlets and other materials issued by the Service Provider from time to time in respect of this Agreement shall be returned by the Service Recipient to the Service Provider upon termination.

 

11.             Indemnity

 

11.1          Indemnity by the Service Recipient

 

The Service Recipient hereby undertakes and agrees to indemnify, defend and hold harmless the Service Provider promptly upon demand at any time and from time to time, from and against any and all actions, proceedings, claims (including third party claims), liabilities (including statutory liability), penalties, demands and costs (including without limitation, legal costs), awards, damages, losses and/or expenses (“Losses”) however arising whether directly or indirectly or incidental to or as a consequence of, including but not limited to:

 

(a)              any misrepresentation or inaccuracy of any of the representations or warranties by the Service Recipient under this Agreement; or

 

(b)             any default or breach by the Service Recipient of its covenants, obligations or any other terms under this Agreement; or

 

(c)              any claims or proceeding brought about by any Third Party against the Service Provider, whether by virtue of a contract or otherwise, brought about in connection with any Services rendered under this Agreement which is attributable to any default on part of the Service Recipient or in respect of any goods/services offered through or by the Service Recipient; or

 

(d)             breach or non-performance by the Service Recipient of any of its undertakings, warranties, covenants, declarations or obligations under this Agreement, as may be applicable; or

 

(e)              breach of confidentiality and intellectual property rights obligations by the Service Recipient; or

 

(f)              any act, deed, negligence, omission, misrepresentation, default, misconduct, non- performance or fraud by the Service Recipient, its employees, contractors, agents or Third Party; or

 

(g)             breach by the Service Recipient of law, rules, regulations, legal requirements in force in India and/or any other applicable jurisdiction; or

 

(h)             any fines, penalties or interest imposed directly or indirectly on the Service Provider on account of any activity carried out by the Service Recipient under, in relation to or as a consequence of this Agreement.

 

(i)               Service Recipient will engage the counsel or the firm of counsel nominated and selected by the Service Provider, to the reasonable satisfaction of the Service provider to defend each indemnified Claim. If at any time, service provider determines, in its sole discretion, that any indemnified Claim might adversely affect the service provider, then service provider may take exclusive control of the defense and the service recipient should bear all the expenses to conduct and conclude the case.

(j)     Disclaimer

The service provider site and the services, including all content, software, functions, materials and information available or provided in connection with the services, are provided on "as-is." basis.

 

As a user of the services, Service recipient may access the website of the Service provider and can enjoy, at its own risk, any services available on the online portal or tool provided by website of the Service Provider without, in any way, arising or cause to arise any liability against the Service Provider 

 

Service Provider and its affiliates waive and disclaim:

(1)    any representations, warranties, declarations or guarantees regarding this agreement, the services or the transactions contemplated hereby, including any implied warranties, declarations or guarantees of merchantability, fitness for a particular purpose or non-infringement;

 

(2)    implied warranties arising out of course of dealing, course of performance or usage of trade; and

 

(3)    any obligation, liability, right, claim or remedy in tort, whether or not arising from our negligence.

 

Service provider do not warrant that the functions contained in the website of the Service Provider or the offline or online services provided by the service provider meets the requirements of the Service Recipient or be available, timely, secure, uninterrupted or error free and also Service Provider will not be liable for any service interruptions, including, but not limited to system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of any transactions.

 

 

11.2          Indemnity by the Service Provider

 

The Service Provider hereby agrees and undertakes to indemnify and hold harmless the Service Recipient promptly upon demand at any time and from time to time, from and against any and all Losses borne, paid and/or suffered by the Service Provider or any of its affiliates, nominees or directors, which directly arise out of, or results from, relate to or may be payable by virtue of:

 

(a)              any breach or inaccuracy of any of the representations and warranties by Service Provider under this Agreement

 

(b)             any material default or breach by the Service Provider of their covenants and obligations, under this Agreement

 

11.3          The indemnities provided herein shall survive the termination of this Agreement.

 

12.             Limitation of Liability

            Notwithstanding anything stated under this Agreement:

12.1          The Service provider will not be liable (whether in contract, warranty, tort, delict (including negligence, product liability, any type of civil responsibility or other theory) or otherwise) to service recipient or any other person, for cost of cover, recovery of any investment made by the service recipient in connection with this agreement, or for any loss of profit, revenue, business, or data or punitive or consequential damages arising out of or relating to this agreement.

12.2          The Service Provider shall not be liable to the Service Recipient or any of its directors, employees, representatives, for any indirect or consequential loss, damage or expense of any kind.

 

12.3          The liability of Service Provider towards the Service Recipient for any indemnification obligation arising out of this Agreement shall be capped at, and shall in no event exceed the Service Fee received by the Service Provider.

 

13.             Confidentiality

 

13.1          All documents, information and other materials that are identified or marked as being confidential or proprietary to a Party (“Disclosing Party”) or that the other Party knows, or under the circumstances would reasonably be expected to know, are confidential or proprietary to the Disclosing Party and made available to by the Disclosing Party to the other Party in connection with, pursuant to, in the course of or as a result of this Agreement, (collectively “Confidential Information”), shall be deemed to be confidential to such Party and shall remain the exclusive property of such Party during and after the Term of this Agreement.

 

13.2          Each Party may use the Confidential Information of the other Party only in connection with the purposes of which it was disclosed and may only be copied or reproduced to the extent reasonably necessary for such Party to perform its obligations or for the purposes of which it was disclosed. Each Party agrees to protect the confidentiality of the Confidential Information of the other Party in the same manner that it protects the confidentiality of its own proprietary and confidential information of like kind, but in no event shall either Party exercise less than reasonable care as of industry standard in protecting such Confidential Information. The receiving Party shall give prompt notice to the disclosing Party of any unauthorized use or disclosure of the Confidential Information, as soon as it becomes aware of such unauthorized use or disclosure.

 

14.             Representations and Warranties

 

14.1          The Parties hereby represent and warrant to each other that:

 

14.1.1      they have the full power and authority to enter into, execute and deliver this Agreement and to perform the transactions contemplated hereby and are duly incorporated and existing under the laws of India;

 

14.1.2      the execution and delivery of this Agreement and the performance of the transactions contemplated hereunder has been duly authorized by all necessary corporate, statutory, contractual or other action of the Parties;

 

14.1.3      this Agreement constitutes the legal, valid and binding obligation of the Parties, enforceable against them in accordance with its terms except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors' rights generally; and

 

14.1.4      this Agreement shall not violate any applicable law or regulation

 

14.2          The Service Recipient represents to the Service Provider that:

 

14.2.1      The Service Recipient is the absolute and legal owner of the products and/or has the appropriate authority, licenses and approvals to deal in the products for which it is using the Services of the Service Provider;

 

14.2.2      The Service Recipient shall solely be responsible for the authenticity, quality, quantity and merchantability of the products it deals in and for which it has sought the Services of the Service Provider and in no circumstances shall it hold the Service Provider liable for any defects or faults in the products;

 

14.2.3      The Service Recipient warrants and represents that it has the right to use, display and reproduce its name, brand name, logo, trademark and service marks (“Marks”) and as such owns or has valid licenses to all its intellectual property and all the Marks. The Service Recipient further represents that it has sufficient intellectual property necessary to conduct its business and that it is not conducting its business in a manner that infringes the intellectual property of others.

 

14.2.4      The Service Recipient warrants that it shall be the sole responsibility of the Service Recipient to ensure the proper condition and quality of the products during transit, storage and/or warehousing. Provided that if the Service Recipient has opted for Fulfillment Services, the Service Recipient shall only be responsible for the proper condition and quality during transit, storage and/or warehousing to the extent that the products are in the possession of the Service Recipient only.

 

15.             Miscellaneous

 

15.1          Assignments: The Service Recipient shall not assign or transfer this Agreement without the prior written consent of the Service Provider. Any purported assignment or transfer of this Agreement by the Service Recipient without the Service provider’s consent will be null and void.

 

15.2          Force Majeure: Neither Party shall be liable for its failure to perform under this Agreement as a result of any event of force majeure events like acts of god, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or central governments, change in laws, rules and regulations, affecting the performance of the defaulting Party.

 

15.3          Governing Law and Jurisdiction: This Agreement (and any dispute or claim relating to it, its enforceability or its termination) shall be governed by and construed in accordance with the laws of India. Subject to Clause 15.4 below, the courts at Ghaziabad shall have the exclusive jurisdiction over any disputes relating to the subject matter of this Agreement.

 

15.4          Settlement of Disputes and Jurisdiction: Each of the Parties agree that, if any dispute(s) or difference(s) shall arise between the Parties in connection with or arising out of this Agreement, the Parties shall attempt, for a period of 30 (Thirty) days from the receipt of a notice from the other Party of the existence of a dispute(s), to settle such dispute(s) by mutual discussions between the Parties. If the said dispute(s) cannot be settled by mutual discussions within the 30 (Thirty) day period provided above, either Party may refer the matter to a sole arbitrator to be mutually appointed in accordance with the Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be held under the provisions of the Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be held in English language at Ghaziabad.

 

15.5          Waiver: Unless otherwise expressly stated in this Agreement, the failure to exercise or delay in exercising a right or remedy under this Agreement by either Party shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy under this Agreement shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy.

 

15.6          Survival of Provisions: The terms and provisions of this Agreement that by their nature and content  are  intended  to survive  the performance hereof by any or  all  Parties hereto shall so survive the completion and  termination of this Agreement.

 

15.7          Severability: If any provision of this Agreement is or becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision shall apply with such deletions as may be necessary to make it valid. If any Court/Tribunal of competent jurisdiction holds any of the provisions of this Agreement unlawful or otherwise ineffective, the remainder of this Agreement shall remain in full force and the unlawful or otherwise ineffective provision shall be substituted by a new provision reflecting the intent of the provision so substituted.

 

15.8          Non-Exclusivity: It is agreed and clarified that this Agreement is on a non-exclusive basis and the Parties are at liberty to enter into similar Agreements with other parties.

 

15.9          Entire Agreement: This Agreement constitutes the entire Agreement and understanding between the Parties, and supersedes any previous agreement or understanding or promise between the Parties, relating to the subject matter of this Agreement. All Schedules, Recitals and Annexure to this Agreement shall be an integral part of this Agreement and will be in full force and effect as though they were expressly set out in the body of this Agreement.

 

15.10       Notices: All notices, requests, demands, waivers and other communications required or permitted to be given under the Agreement shall be in writing through certified or registered mail, courier, email, facsimile or telegram  to be sent to the following addresses

 

15.11       Amendment: This Agreement shall not be varied, amended or modified by any of the Parties in any manner whatsoever unless such variation, amendment or modification is mutually discussed  and agreed to in writing and duly executed by both the Parties.

 

15.12       Counterparts: This Agreement may be executed in two or more counterparts, each of which, when executed and delivered, is an original, but all the counterparts taken together shall constitute one document.

 

 

 

 

SCHEDULE A

 

Services to be provided to the Service Recipient by the Service Provider

 

1.                The Service Provider will provide listing and cataloging services for the products and/or servicesof the Service Recipient on its mobile platform marketed under the brand name of ‘Local Option / localoption.in’ (“Platform”). The Service Provider will also be providing Fulfillment Services for the products, the terms of which shall be subject to mutual agreement between the Parties.

 

2.                As part of the Fulfillment Services, the Service Provider will be responsible for picking up samples or full size products from the authorized distribution point as designated by the Service Recipient, transporting it and storing it (if required) under the appropriate transport/storage condition as advised by the Service Recipient. In this regard, the Service Provider agrees to take full responsibility of packaging and shipping the goods of the Service Recipient to its consumers within a reasonable delivery time as may be agreed between the Parties and displayed on the Service Provider’s Platform conforming to the brand guidelines of the products of the Service Recipient.

 

3.                In the event of faulty goods delivered to any consumer, the Service Provider will facilitate the necessary reverse logistics for the return of goods from that consumer in accordance with the Returns, Exchange and Refund Policy of the Service Provider.

 

SCHEDULE B

PART A

 

1.                For the products of the Service Recipient that are sold through the Platform, the Service Provider will be eligible for a Referral Fee (%) based on Category on Selling Retail Price & a Closing Fee as mentioned on the website localoption.in from time to time.

 

2.                In the event of any returns or exchange as contemplated in the Returns, Exchange and Refund Policy, the Service Recipient will be required to remit additional charges as may be applicable at actual for providing Fulfillment Services to the Service Provider in respect of each return or exchange effected by the Service Provider on behalf of the Service Recipient (“Returns and Exchange Fee”).

 

3.                In the event of return of shipment by the customer or any form of shipments returned to the vendor as Shipment RTO or refusal to accept the shipment and/ or due to incorrect details or refusal to pay, The Service Recipient is charged the total  Commission mentioned in Clause 1 on the selling price towards the amount due to the Seller/ Service Recipient. This amount may be deducted from payments due to the Service Recipient or any other payments to the Service Recipient in future. 

 

4.                In respect of all product sales of the Service Recipient through the Platform of the Service Provider, the Service Provider will collect the payment from the End User through its integrated payment gateway on behalf of the Service Recipient. After a period of 21 days have elapsed from the date of receipt of payment and subject to deduction of Commission and refunds, if any, the amount due and payable to the Service Recipient shall be remitted to the Service Recipient Account at the end of such period.

 

The aggregate of each of the aforementioned components, i.e., the Commission, the Sampling Fee and the Returns and Exchange Fee, depending on whether or not the Service Recipient has opted for them, shall together constitute the “Service Fee”.

PART B

Bank Account Details of the Service Provider and the mode of payment are provided as follows:

 

 

 

The Service Agreement Terms & Condition are taken as ‘Agreed’ on signup of the Sellers to the Platform.