Agreement for Selling Products Through STORE ONLINE Pvt. Ltd. (www.istore.com.np)
This is an agreement between Store Online Pvt. Ltd. (iStore) and Vendor /Supplier / Seller. The agreement effective Day/ Month/ Year will valid from vendor sing up date. Store Online Pvt. Ltd. Lalitpur-4, Nepal. (Hereafter referred to as “iStore”) and User who sell there any product using iStore web platform know as a Vendor (Supplier or Seller). Vendor should mention their complete detail with registration / PAN / VAT number at the time of signup for Vendor. (Hereafter referred as “Vendor”). Wherein, Vendor will avail e-commerce platform through the existing or any new official e-commerce website announced by istore.com.np hereafter referred as “website”, having its principal place of business, with reference to the following facts:
A. Customer / Buyer / Website Visitors hereafter “Customer” desires to purchase the products listed online from Vendor via website
B. iStore has entered into an agreement with Vendor to operate and manage e-commerce website – online shopping in Nepal (the "complete e-Market"). iStore is a common platform for buyer and seller to buy & sell any products from online. If any argue/issue arises between vendor and customer regarding the service provided by Vendor via iStore, then iStore work as mediator to resolve the problem.
C. Vendor will try to provide their products at wholesale or best price on iStore website. Vendor should frequently update the information regarding the products inventory including point-of-sale, promotional offers, price updates and related services necessary to manage and operate the products via website. Vendors have also their own Administrative panel to maintain their products and desires to provide the delivery to Customer on the terms and conditions set forth herein.
Based upon the foregoing, and in consideration of the mutual promises set forth herein, products, other services and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Vendor and iStore (collectively, the "Parties") hereby agree as follows,
1. Exclusive Sale and Purchase:
iStore will provide the platform to Vendor for selling the products from website and the customer can use this platform to buy the products from website.
2. Pricing and Taxes.
a. Listed/Selling Price. The selling price for the Product and Services shall be Retail price or the listed price can be the suggested by the Vendor.
b. Additional Prices and Other Charges: Charges like installation, shipping, insurance or all the other charges should be clearly mentioned on product details.
c. Prices Exclusive of Taxes: The price listed on website can be either inclusive or exclusive of taxes depending upon the products & Vendor, duties or charges should be clearly mentioned on product detail.
d. Freight/Shipping Charge: Delivery charge depends upon vendor, vendor location, and products. Vendor should clearly mention on each product details.
e. Wholesale/Buying price: Vendor should provide wholesale / discounted price on website.
f. Special price / Offers: In the mutual understanding between the Vendor and iStore, the vendor can provide special selling price during the special occasion and events. Vendor should make short term agreement for these kinds of special offers.
3. Right to Modify Orders:
Prior to Customer orders, Vendor reserves the right to make substitutions, modifications and improvements to the products, provided that such substitution, modification or improvement shall not diminish or materially affect the performance of the website and the product, as they were originally demonstrated to and agreed upon by Customer and Vendor.
Vendor will provide their own pan/vat or other invoice according to their own business environment direct to the customer.
All payments will be collected and responsible by iStore and iStore will process the invoiced payments after deduction the commission and if there other charges as per Agreement to the Vendor.
6. Product Warranty/Guarantee :
Vendor's sole responsibility to Customer with respect to any Equipment or components and parts manufactured by a third party and incorporated as per the Product. Vendor should clearly mention about the warranty/guarantee on the each product details.
7. Return, Change, Cancellation, and Termination.
a. Cancel of Purchase Order. The cancellation policy can be different according to the products and or Vendor. If Customer cancels a purchase order, it will follow according to the cancellation policy. If customers cancel the order before delivery, Vendor should accept the cancellation. Vendor can cancel an order if the product is out of stock.
b. Return & Exchange: Vendor has authority to maintain their own policy on their products in accordance with iStore. Vendor should clearly mention about return & exchange policies on each product details. If Vendor didn’t mention the Return & Exchange policy on each product vendor should accept the iStore policy.
c. Termination: If the customer has made payment via online banking and the order is terminated either by customer or vendor then, the amount of commission of bank transaction will be deducted either, from the customer’s payment if the customer has terminated the order or from vendor if the vendor has terminated the order.
8. Vendor Performance and Operation standards:
a. Vendor will manage themselves: iStore will provide platform to Vendor to manage their product inventory themselves. Vendor has authority to maintain their own policy on their each product in accordance with iStore. Vendor agrees to share the profit amount received from its transaction for the use of iStore online shopping platform. As such, iStore will get certain percentage (%) of commission as per iStore Commission policy from each transaction from.
b. iStore will manage on behalf of Vendor: Vendor will provide the list of products and its information i.e images, price, product description, shipping information, return/cancel/exchange policy, condition of warranty & guarantee, to be displayed on the website and iStore will manage online these contents co-ordination with Vendor on behalf of the Vendor.
i. This is additional Service, to use these services, Vendor should sign another agreement and the service charges depend upon number of products and duration of time and work.
ii. Vendor agrees to share the profit amount received from its transaction for the use of iStore online shopping platform. As such, iStore will get certain percentage (%) of commission as per iStore Commission policy from each transaction from.
c. Fulfillment by iStore: Vendor can store there product on iStore warehouse with products Inventory and its information i.e price, product description, return/cancel/exchange policy, condition of warranty & guarantee, to be displayed on the website and iStore will manage online these contents co-ordination with Vendor on behalf of the Vendor. After successfully selling of every item from store iStore will transfer the payment as per agreement.
9. Advertisement & Promotion:
a. iStore will not promote any particular Vendor and its products on any paper media, audio and visual media, social networking, hooding board and posters.
b. Vendor can use payable online advertisement and product promotion service on website. The charges depend upon duration and banner size.
10. Terms and Termination:
a. Terms: This Agreement will be effective for an initial term commencing on the Effective Date hereof.
b. Termination: Either party may terminate this Agreement at any time for any cause or without cause upon 30 day’s written notice to the other party.
11. Shipping / Delivery: iStore will provide shipping and delivery services to various location and its charges depends upon products, location and third party shipping carrier. Vendor can use this service according to iStore or can provide their own shipping and delivery service and its charges. All these shipping information should be clearly mention on each product information.
To use this service Vendor can handle their delivery and shipping of products to the customer themselves in co-ordination with iStore.