Online Vendor Agreement
Marketplace Name: Stock on Fire Vendor Name: [Insert Vendor Name]
This Online Vendor Agreement (“Agreement”) is entered into by and between Stock on Fire, powered by I-TAC Group, a company registered under the laws of Saudi Arabia with its principal place of business at [stockonfire.com] (hereinafter referred to as the “Marketplace”), and [Vendor Name], a company/business registered under the laws of Saudi Arabia, with its principal place of business at [Insert Address] (hereinafter referred to as the “Vendor”).
1. Scope of Agreement
1.1. The Marketplace provides an online platform that facilitates the listing and sale of products by the Vendor to customers. 1.2. The Marketplace acts only as an intermediary and does not take ownership, control, or responsibility for any products listed by the Vendor.
2. Vendor’s Responsibilities
2.1. The Vendor shall ensure that all products listed for sale are authentic, lawful, and meet the agreed-upon quality standards. 2.2. The Vendor shall bear full responsibility for ensuring that the displayed product accurately corresponds to its description. 2.3. The Vendor shall handle all aspects of order fulfillment, including packaging, shipping, and delivery, limited to Stock on Fire. 2.4. The Vendor shall comply with all applicable laws, regulations, and industry best practices in relation to the sale and distribution of its products. 2.5. The Vendor shall have the right to request the inclusion of additional product lines in the Marketplace, contingent upon presenting valid approval or authorization from the manufacturer or brand. 2.6. The Vendor must maintain accurate stock levels on the Marketplace to ensure timely order fulfillment. 2.7. Once the Vendor acknowledges an order, any failure to fulfill it due to stock discrepancies may incur penalties, up to a maximum of 100% of the value of the affected items.
3. Pricing & Payment Terms
3.1. All prices must be stated in SAR (Saudi Riyals), exclusive of tax, which will be added at checkout, reflected in the invoice, and included in the payment to the Vendor from Stock on Fire. 3.2. The Vendor shall consider a 25% transaction fee on each sale, which will be deducted from the total value of every completed order. 3.3. The Vendor agrees to the following payment schedule:
- Orders received on or before the 13th of each month will be settled by the end of that same month.
- Orders received after the 13th will be settled by the end of the following month.
3.4. The Vendor agrees to deliver products to Stock on Fire’s designated warehouse, located within the same region as the Vendor’s operations, within 2 to 3 working days from the order date.
4. Delivery & Return Terms
4.1. The Vendor bears full responsibility for any defective or non-conforming products sold to customers through the Marketplace. The Marketplace shall not be liable for any claims, damages, or losses, except in cases where damage occurs during shipping handled by Stock on Fire’s logistics. 4.2. The Vendor shall indemnify the Marketplace against claims arising from product defects, incorrect deliveries, or delays caused by the Vendor’s negligence. The Marketplace shall be liable only for issues resulting from its own errors or managed logistics. Both parties agree to resolve disputes in good faith, with liability limited to the order value. 4.3. The Vendor shall be responsible for managing all legitimate returns to the Marketplace, at their own cost, within 7 calendar days from the date of the return request.
5. Marketplace’s Role and Limitations of Liability
5.1. The Marketplace shall not be held liable for any direct, indirect, incidental, or consequential damages arising from the Vendor’s use of the platform, except in cases involving the suspension of the Vendor’s account.
6. Indemnification
6.1. The Vendor agrees to fully indemnify, defend, and hold harmless the Marketplace, its officers, directors, employees, and affiliates from any claims, liabilities, damages, expenses, and legal fees arising from: A. Any defective, counterfeit, or non-compliant products sold through the Marketplace. B. Any failure by the Vendor to fulfill orders, including delays, cancellations, or shipping errors. C. Any violation of intellectual property rights, consumer protection laws, or other applicable regulations.
7. Dispute Resolution
7.1. In case of disputes between the Vendor and the Marketplace, the parties shall first attempt to resolve the issue amicably. If no resolution is reached, the matter shall be referred to arbitration in [Saudi Arabia], as per the laws of [Saudi Arabia].
8. Termination
8.1. The Marketplace reserves the right to suspend the Vendor’s subscription in the event of any violation of the terms outlined in this Agreement. If the Vendor fails to resolve the issue within fourteen (14) days, the Marketplace may proceed with termination by providing thirty (30) days’ written notice. 8.2. The Vendor may terminate this Agreement by giving thirty (30) days’ written notice, provided there are no unresolved disputes or outstanding orders at the time of termination.
9. Governing Law
9.1. This Agreement shall be governed by and construed in accordance with the laws of [Saudi Arabia]. Any disputes arising out of or related to this Agreement shall be subject to the exclusive jurisdiction of the courts in [Saudi Arabia].
10. Miscellaneous
10.1. This Agreement constitutes the entire understanding between the parties and supersedes any prior agreements or understandings, whether written or oral. 10.2. No waiver or modification of any provision of this Agreement shall be valid unless
made in writing and signed by both parties. 10.3. If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect.
11. Acknowledgment and Acceptance
By signing this Agreement, both parties confirm that they understand and agree to the terms stated above.
Signatures
STOCK ON FIRE By: _________________________ Name: ______________________ Title: _______________________ Signature: ___________________ Date: _______________________
Stamp: ______________________
VENDOR By: _________________________ Name: ______________________ Title: _______________________ Signature: ___________________ Date: _______________________
Stamp: _______________________
