Term of Service & Conditions

Please read these Terms of Service / Terms and Conditions carefully as they contain important information about your legal rights, remedies and obligations.

GENERAL

This document is an electronic record in terms of Information Technology Act, 2000 and rules thereunder as applicable, and the amended provisions pertaining to electronic records in various statutes, as amended by the Information Technology Act, 2000.

This electronic record is generated by a computer system and does not require any physical or digital signatures. This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and Terms of Use for access or usage of the Website ‘marketsaltz’ (hereinafter referred to as the “Website”) which is owned and operated by Saltz India Pharma Laboratories (OPC) Private Limited (hereinafter referred to as the“Company” ), having its corporate office at Plot No – 396, Ground Floor, Sri Srinivasapuram Colony, Vanasthalipuram, Hyderabad, Telangana, India - 500070; where such expression shall, unless repugnant to the context thereof, be deemed to include its respective representatives, administrators, employees, directors, officers, agents and their successors and assigns.

For the purpose of these Terms of Service or Use ( “Terms” ), wherever the context so requires,

The term ‘You’ or ‘User’ or ‘Member’ shall mean any legal person or entity from an authorised business or a university authorised to access or use the services provided on this Website, who is competent to enter into binding contracts, as per the provisions of the Indian Contract Act, 1872. Users are of two types:

‘Academic Institute’ where the User is from a licensed university / College and is authorised to buy chemicals from the Website; and

‘Business’ where the User is from a licensed business who is looking to buy or sell chemicals from the Website.

Academic Institutions and Business users are collectively referred to as ‘User(s)’ henceforth.

The terms ‘We’, ‘Us’, ‘Our’ shall mean the Website and/or the Company, as the context so requires.

The term ‘Services’ shall mean the business of providing a portal for selling and buying of chemicals between Users.

The terms ‘Party’ and ‘Parties’ shall respectively be used to refer to the User and the Company individually and collectively, as the context so requires.

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By accessing or using the marketsaltz.com Platform, you agree to comply with and be bound by these Terms of Service / Terms and Conditions. Once you have registered on our platform (opened a marketsaltz account) you have explicitly agreed to these Terms of Service. Once you have sent an order or sent an order confirmation via our platform you have also explicitly agreed to these Terms of Service.

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These Terms of Service / Terms and Conditions has been updated on 28th April, 2023.

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These Terms of Service / Terms and Conditions (“Terms”) constitute a legally binding agreement (“Agreement”) between you and Saltz India Pharma Laboratories (OPC) Private Limited (as defined below) governing your access to and use of the marketsaltz website (marketsaltz.com), including any sub-domains thereof, and any other websites through which marketsaltz makes the Saltz India Pharma Laboratories (OPC) Private Limited Services available (collectively, “Site”), our mobile, tablet and other smart device applications, and application program interfaces (collectively, “Application”) and all associated services (collectively, “marketsaltz Services”). The Site, Applications and marketsaltz Services together are hereinafter collectively referred to as the “marketsaltz Platform”.

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Where ever you reside in the world you are contracting with Saltz India Pharma Laboratories (OPC) Private Limited (hereinafter referred to as “marketsaltz”).

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Our collection and use of personal information in connection with your access to and use of the marketsaltz Platform is described in our Privacy Policy.

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marketsaltz provides secure payments services to you, including payment collection services, payments and pay-outs, in connection with and through the marketsaltz Platform

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(“marketsaltz Secure Payment Service or PSP Service”).

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In order to make sure that every payment and pay-out is secure and dedicated only to pay for related orders given, the PSP Services is provided to you through separate bank accounts in various currencies.

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Saltz India Pharma Laboratories (OPC) Private Limited is a company registered in India under the Indian Companies Act 2013, whose registered office is located at Plot No.396, Ground Floor, Sri Srinivasapuram Colony, Vanasthalipuram, Hyderabad, Telangana – 500070, India (“marketsaltz.com”).

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Clause 1. marketsaltz (Saltz India Pharma Laboratories (OPC) Private Limited)Services

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Clause 1.1

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The marketsaltz Platform is an online B2B e-commerce marketplace that brings together the global availability of chemicals, lab equipments and instruments, pharmaceutical raw materials in an extensive database.

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Producers and Traders, either represented by legal entities or single person companies, of raw materials (“Supplier(s)”) can amongst others, after opening a marketsaltz account (“marketsaltz Account”), upload their product portfolio and update the product pricing and required quality documents as and when required as guided by marketsaltz.

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Anyone who is interested to buy these products, either represented by legal entities or single person companies, (“Buyer(s)”) can search the extensive database to shop and buy, after opening a marketsaltz Account. Chemical Buyers can get the COA along with the product package after placing confirmed order and payment done on marketsaltz platform.

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Clause 1.2

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After explicit confirmation of the order by the Supplier to marketsaltz within 24 Hrs after  Buyer placing confirmed order, the order becomes final only while assuming both Buyer and Supplier is accepted. By doing so, both Buyer and Supplier agree that they have entered into a contract directly with each other. marketsaltz (Saltz India Pharma Laboratories (OPC) Private Limited) is not and does not become a party to this contract. Nor is marketsaltz a participant in any contractual relationship between Buyers and Suppliers, nor is marketsaltz acting as an Agent in any capacity for any Buyer and/or Supplier.

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Marketsaltz (Saltz India Pharma Laboratories (OPC) Private Limited) is only involved in operating the marketsaltz Platform and the financial clearance that is provided by the PSP Service of the transaction between Buyer and Supplier.

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Clause 1.3

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Buyers and Suppliers and any other visitors of the website marketsaltz.com hereinafter together also refer to as “User(s)”.

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Clause 1.4

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marketsaltz emphasis on the difference in quality of raw materials and offers this information in a clear and easy-to-use portal where Buyers and Suppliers are able to communicate with each other without revealing the identity. Marketsaltz.com is for information purposes only and wants to simplify and accelerate the process of purchasing chemicals, pharmaceutical raw materials and pharma lab equipment by offering this digital platform to the Users, supported by a comprehensive database. As a provider of the marketsaltz Platform, marketsaltz (Saltz India Pharma Laboratories (OPC) Private Limited) does not own, create, sell, resell, provide, control, manage, offer, deliver, or supply any product or quality documents from the Suppliers product portfolio. Only Suppliers are fully responsible for their listed product portfolio and quality documents. marketsaltz (Saltz India Pharma Laboratories (OPC) Private Limited)has no control over and does not guarantee the existence, quality, safety, suitability, or legality of any product of the product portfolio and or document of the quality documents of Suppliers and or information listed by Suppliers and or Buyers. marketsaltz does not endorse any Buyer or Supplier. Any references to, a Buyer and or a Supplier only indicates that the Buyer and or Supplier has completed a relevant verification and identification process and nothing else. Any such description is not an endorsement, certification or guarantee by marketsaltz about any Buyer and or Supplier including the Buyer and or Supplier identity or background or whether the Buyer and or Supplier is trustworthy, safe or suitable. Buyer or Supplier should always exercise due diligence and care when deciding whether to enter into buy transaction or any contract with a Buyer or Supplier.

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Clause 1.5

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When you choose to use the marketsaltz Platform your relationship with marketsaltz is limited to being an independent, third-party facilitator, and not an employee, agent, joint venture or partner of marketsaltz for any reason, and you act exclusively on your own behalf and for your own benefit, and not on behalf, or for the benefit of marketsaltz.

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Clause 1.6

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The marketsaltz Platform may contain links to third-party websites or resources (“Third-Party Services”). Such Third-Party Services may be subject to different terms and conditions and privacy practices. marketsaltz is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by marketsaltz of such Third-Party Services.

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Clause 1.7

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Due to the nature of the Internet, marketsaltz cannot guarantee the continuous and uninterrupted availability and accessibility of the marketsaltz Platform. marketsaltz may restrict the availability of the marketsaltz Platform or certain areas or features thereof, if this is necessary in view of capacity limits, the security or integrity of our servers, or to carry out maintenance measures that ensure the proper or improved functioning of the marketsaltz Platform. marketsaltz may improve, enhance and modify the marketsaltz Platform and introduce new marketsaltz Services from time to time.

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Clause 1.8

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We do NOT provide any medical advice

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The contents of our website, such as text, graphics, images, information that you obtain from our website is for informational purposes only and is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Never disregard professional medical advice or delay seeking such advice in time of need because of something you have read on / from our website.

marketsaltz does not recommend or endorse any specific tests, physicians, products, procedures, opinions, or other information that may be mentioned on our website.

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Reliance on any information provided by either marketsaltz or its employees / agents or its suppliers / distributors and other visitors to the website is solely at your own risk.

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Clause 1.9: Privacy and Copyright Protection

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marketsaltz privacy policy explains how we treat your personal data and protect your privacy when you use our Services. By using our Services, you agree that marketsaltz can use such data in accordance with our privacy policies.

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We make our best efforts to prevent any kind of infringement of copyright, trademark and other intellectual property right materials. However, in case of any inadvertent error, misrepresentation etc we urge you to inform us using the “feedback” link located on our website. We will respond to you immediately and rectify the error, mispresentation etc, if any, after investigation, at the earliest.

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Kindly note, we respond to notices of alleged copyright infringement and terminate accounts of repeat infringers according to the provisions set out in the Indian Copyright Act, 1957.

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Clause 1.9.1: Liability for our Services

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When permitted by law, marketsaltz, and marketsaltz suppliers and buyers / distributors, will not be responsible for lost profits, revenues, or data, financial losses or indirect, special, consequential, exemplary, or punitive damages.

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To the extent permitted by law, the total liability of marketsaltz, and its suppliers and buyers / distributors, for any claims under these terms, including for any implied warranties, is limited to the amount you paid us to use the Services (or, if we choose, to supplying you the Services again).

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In all cases, marketsaltz, and its suppliers and buyers / distributors, will not be liable for any loss or damage that is not reasonably foreseeable.

We recognize that in some countries, you might have legal rights as a consumer. If you are using the Services for a personal purpose, then nothing in these terms or any additional terms limits any consumer legal rights which may not be waived by contract.

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Clause 1.9.2: Business uses of our Services

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If you are using our Services on behalf of a business, that business accepts these terms. It will hold harmless and indemnify marketsaltz and its affiliates, officers, agents, and employees from any claim, suit or action arising from or related to the use of the Services or violation of these terms, including any liability or expense arising from claims, losses, damages, suits, judgments, litigation costs and attorneys’ fees.

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Clause 2. Usage of the marketsaltz Platform

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Clause 2.1

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The website marketsaltz.com is a commercial website (e-commerce) and as such, is not intended for children or minors. You must be at least 18 years old and above and able to enter into legally binding contracts to access and use the marketsaltz Platform or register a marketsaltz Account.

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By opening a marketsaltz Account and accessing or using the marketsaltz Platform you represent and warrant that you are 18 years or older and have the legal capacity and authority to enter into a contract an behalf of the Buyer or Supplier.

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Except from this you declare that you are an employee of the company that you register.

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Clause 2.2

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You also declare that you and the company you represent complies with any applicable export and import control laws in your local jurisdiction of your country. You also represent and warrant that (i) neither you nor your Buyer and or Supplier services are located or take place in a country that is subject to a US Government embargo, or that has been designated by the India or US Government or United Nations (UN) as a “terrorist supporting” country, and (ii) you are not listed on any Indian or US Government or United Nations (UN) list of prohibited or restricted parties.

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Clause 2.3

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marketsaltz may make the access to and use of the marketsaltz Platform, or certain areas or features of the marketsaltz Platform, subject to certain conditions or requirements, such as completing a verification process, meeting specific quality or eligibility criteria, meeting Ratings or Reviews thresholds, or ordering and cancellation history.

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Clause 2.4

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User verification on the Internet is difficult and we do not assume any responsibility for the confirmation of any Buyer and or Supplier identity. Notwithstanding the above, for transparency and fraud prevention purposes, and as permitted by applicable laws, we may, but have no obligation to (i) ask Buyer or Suppliers to provide a form of government identification or other information or undertake additional checks designed to help verify the identities or backgrounds of Buyers or Suppliers, (ii) screen Buyers or Suppliers against third party databases or other sources and request reports from service providers, and (iii) where we have sufficient information to identify a Buyer or Supplier, obtain reports from public records of criminal convictions or sex offender registrations or an equivalent version of background or registered sex offender checks in your local jurisdiction (if available).

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Clause 2.5

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The access to or use of certain areas and features of the marketsaltz Platform may be subject to separate policies, standards or guidelines, or may require that you accept additional terms and conditions. If there is a conflict between these Terms of Service and additional terms and conditions applicable to a specific area or feature of the marketsaltz Platform, the latter additional terms and conditions will take precedence with respect to your access to or use of that area or feature, unless specified otherwise.

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Clause 3 Modifications of these Terms

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Clause 3.1

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marketsaltz reserves the right to modify these Terms at any time in accordance with this provision. If we make changes to these Terms, we will post the revised Terms on the marketsaltz Platform and update the “Last Updated” date at the top of these Terms. We will also provide you with notice of the modifications by email at least thirty (30) days before the date they become effective. If you disagree with the revised Terms, you may terminate this Agreement with immediate effect. We will inform you about your right to terminate the Agreement in the notification email. If you do not terminate your Agreement before the date the revised Terms become effective, your continued access to or use of the marketsaltz Platform will constitute acceptance of the revised Terms.

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Clause 4 Account Registration

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Clause 4.1

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You must register or claim an account (“marketsaltz Account”) to access and use certain features of the marketsaltz Platform, Academic Institutions and Businesses have to register themselves and it’s a one time job.

Academic Institute user means, a person working or studying at a university / college / research organization (Government recognized / Government established). 

Business user means, a person who is a owner of business or working for a company / firm / organization which manufactures / trades / supplies chemicals, lab equipment or pharma equipment and instruments and or chemical or pharma related products.  

Academic Institutions and Business Users have to upload or submit proper authentic and authorized documents like organization registration certificate / GST / VAT / Tax ID along with a proof to authorize to deal (Buy, Sell, Transact etc.,) in chemicals / pharmaceuticals is required by marketsaltz platform.

After registration product portfolio, product price and quality documents when you are a Supplier or orders to Suppliers when you are a Buyer, or both. If you are registering a marketsaltz Account for a Buyer or Supplier or for both, you represent and warrant that you have the authority to legally bind that entity and grant us all permissions and licenses provided in these Terms.

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Clause 4.2

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You can register a marketsaltz Account using an email address and creating a password.

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You must provide accurate, current and complete information during the registration process and keep your marketsaltz Account profile page information up-to-date at all times.

All Supplier should: Add readily available stocks, Product availability status, Price.

Equipment Supplier should: Add readily available stocks, Product availability status, Price and upload product technical data sheet.

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Clause 4.3

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You may not register more than one (1) marketsaltz Account unless marketsaltz authorizes you to do so. You may not assign or otherwise transfer your marketsaltz Account to another party.

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Clause 4.4

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You are responsible for maintaining the confidentiality and security of your marketsaltz Account credentials and may not disclose your credentials to any third party. You must immediately notify marketsaltz if you know or have any reason to suspect that your credentials have been lost, stolen,

Mis-appropriated, or otherwise compromised or in case of any actual or suspected unauthorized use of your marketsaltz Account. You are liable for any and all activities conducted through your marketsaltz Account, unless such activities are not authorized by you and you are not otherwise negligent (such as failing to report the unauthorized use or loss of your credentials).

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Clause 4.5

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No third party is authorized by marketsaltz to ask for your credentials, and you shall not request the credentials of another Buyer or Supplier. It is your responsibility to update your product pricing whenever you feel the price needs to be updated. To update the pricing, you can inform to marketsaltz team through an email.

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Clause 4.6

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No third party is authorized by marketsaltz to ask for your credentials, and you shall not request the credentials of another User.

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Clause 5 Content

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Clause 5.1

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marketsaltz may, at its sole discretion, enable Buyers and Suppliers to (i) create, upload, post, send, receive and store content, such as text, photos, audio, video, or other materials and information on or through the marketsaltz Platform (“Account Content”); and (ii) access and view Account Content and any content that marketsaltz itself makes available on or through the marketsaltz Platform, including proprietary marketsaltz content and any content licensed or authorized for use by or through marketsaltz from a third party (“marketsaltz Content” and together with Account Content, “Collective Content”).

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Clause 5.2

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The marketsaltz Platform, marketsaltz Content, and Account Content may in its entirety or in part be protected by copyright, trademark, and/or other laws of the India and other countries. You acknowledge and agree that the marketsaltz Platform and marketsaltz Content, including all associated intellectual property rights, are the exclusive property of marketsaltz and/or its licensors or authorizing third-parties. You will not remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the marketsaltz Platform, marketsaltz Content or Account Content. All trademarks, service marks, logos, trade names, and any other source identifiers of marketsaltz used on or in connection with the marketsaltz Platform and marketsaltz Content are trademarks or registered trademarks of marketsaltz in the India and other countries. Trademarks, service marks, logos, trade names and any other proprietary designations of third parties used on or in connection with the marketsaltz Platform, marketsaltz Content, and/or Collective Content are used for identification purposes only and may be the property of their respective owners.

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Clause 5.3

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You will not use, copy, adapt, modify, prepare derivative works of, distribute, license, sell, transfer, publicly display, publicly perform, transmit, broadcast or otherwise exploit the marketsaltz Platform or Collective Content, except to the extent you are the legal owner of certain Account Content or as expressly permitted in these Terms. No licenses or rights are granted to you by implication or otherwise under any intellectual property rights owned or controlled by marketsaltz or its licensors, except for the licenses and rights expressly granted in these Terms.

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Clause 5.4

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Subject to your compliance with these Terms, marketsaltz grants you a limited, non-exclusive, non-sub licensable, revocable, non-transferable license to (i) download and use the Application on your personal device(s); and (ii) access and view any Collective Content made available on or through the marketsaltz Platform and accessible to you, solely for your personal and non-commercial use.

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Clause 5.5

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By creating, uploading, posting, sending, receiving, storing, or otherwise making available any Account Content on or through the marketsaltz Platform, you grant to marketsaltz a non-exclusive, worldwide, royalty-free, irrevocable, perpetual (or for the term of the protection), sub-licensable and transferable license to such Account Content to access, use, store, copy, modify, prepare derivative works of, distribute, publish, transmit, stream, broadcast, and otherwise exploit in any manner such Account Content to provide and/or promote the marketsaltz Platform, in any media or platform. Unless you provide specific consent, marketsaltz does not claim any ownership rights in any Account Content and nothing in these Terms will be deemed to restrict any rights that you may have to use or exploit your Account Content.

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Clause 5.6

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You are solely responsible for all Account Content that you make available on or through the marketsaltz Platform. Accordingly, you represent and warrant that: (i) you either are the sole and exclusive owner of all Account Content that you make available on or through the marketsaltz Platform or you have all rights, licenses, consents and releases that are necessary to grant to marketsaltz the rights in and to such Account Content, as contemplated under these Terms; and (ii) neither the Account Content nor your posting, uploading, publication, submission or transmittal of the Account Content or marketsaltz´s use of the Account Content (or any portion thereof) will infringe, misappropriate or violate a third party’s patent, copyright, trademark, trade secret, moral rights or other proprietary or intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.

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Clause 5.7

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You will not post, upload, publish, submit or transmit any Account Content that: (i) is fraudulent, false, misleading (directly or by omission or failure to update information) or deceptive; (ii) is defamatory, libellous, obscene, pornographic, vulgar or offensive; (iii) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (iv) is violent or threatening or promotes violence or actions that are threatening to any other company or person; (v) promotes illegal or harmful activities or substances; or (vi) violates marketsaltz´s content policy or any other marketsaltz policy. marketsaltz may, without prior notice, remove or disable access to any Account Content that marketsaltz finds to be in violation of these Terms or marketsaltz´s policies or standards, or otherwise may be harmful or objectionable to marketsaltz, its Account holders, third parties, or property.

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Clause 5.8

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marketsaltz respects copyright law and expects its Account holders to do the same. If you believe that any content on the marketsaltz Platform infringes copyrights you own, please notify us.

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Clause 6. Service Fees

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Clause 6.1

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The PSP Service is provided to you by marketsaltz. This service includes payment collection services, payments and pay-outs, in connection with and through the marketsaltz Platform. The service is rendered in order to make sure that every payment and pay-out is secure and dedicated only for its intended purpose i.e. to pay for orders of chemicals, pharmaceutical raw materials, pharma lab equipments and instruments.

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Clause 6.2

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marketsaltz may restrict the availability of the PSP Service, or certain services or features thereof, to carry out maintenance measures that ensure the proper or improved functioning of the PSP Service. marketsaltz may improve, enhance and modify the PSP Service and introduce new payment services from time to time.

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Clause 6.3

The PSP Service may contain links to the third-party websites or resources (“Third-Party Services”). Such Third-Party Services are subject to different terms and conditions and privacy practices and marketsaltz Account holders should review them independently. marketsaltz is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by marketsaltz of such Third-Party Services.

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Clause 6.4

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You may not use the PSP Service except as authorized by India Law, EU Law, United States Law, the laws of the jurisdiction in which you reside, and any other applicable laws. In particular, but without limitation, the PSP Service may not be used to send or receive funds: (i)into India (ii) into any United States embargoed countries; or United Nations (UN) or (iii) to anyone on the U.S. Treasury Department’s list of Specially Designated Nationals or the U.S. Department of Commerce’s Denied Persons List or Entity List. You represent and warrant that: (i) neither you nor your Supplier company is located or take place in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government or United Nations (UN) as a “terrorist supporting” country; and (ii) you are not listed on any India and U.S. Government or United Nations (UN) list of prohibited or restricted parties. In addition to complying with the above, you must also comply with any relevant export control laws in your local jurisdiction of your country.

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Clause 6.5

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Your access to or use the PSP Service may be subject to, or require you to accept, additional terms and conditions. If there is a conflict between these PSP Service Terms and terms and conditions applicable for a specific payment service, the latter terms and conditions will take precedence with respect to your use of or access to that payment service, unless specified otherwise.

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Clause 6.6

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In order to use the PSP Service, you must have an marketsaltz Account in good standing.

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Before submitting an order to a Supplier, the Buyer will be advised by marketsaltz to fully complete all the necessary account information, including but not limited to the payment method, bank account number and swift  information, that marketsaltz requires in order to provide the PSP Service.

Before confirming an order to a Buyer, the Supplier will be advised by marketsaltz to fully complete all the necessary account information, including but not limited to the payment method, bank account number and swift  information, that marketsaltz requires in order to provide the PSP Service.

If marketsaltz does not obtain all the necessary information of the Buyer or the Supplier no PSP Service can be allowed and performed.

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Clause 6.7

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If you or marketsaltz closes your marketsaltz Account for any reason, you will no longer be able to use the PSP Service through marketsaltz Platform.

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Clause 6.8

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You may authorize a third party to use your marketsaltz Account in accordance with the marketsaltz Terms. You acknowledge and agree that anyone you authorize to use your marketsaltz Account may use the PSP Service on your behalf and that you will be responsible for any payments made by such person and marketsaltz is not responsible on such transaction whichever is not validated by you. Marketsaltz always assumes you validate each and every transaction from your marketsaltz account.

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Clause 6.9

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You must be at least 18 years old and be able to enter into legally binding contracts to use the PSP Service. By using the PSP Service you represent and warrant that you are 18 years or older.

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Clause 6.10

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If you are agreeing to these PSP Service Terms on behalf of a company or other legal entity, i.e. a Buyer and or a Supplier, you represent and warrant that you have the authority to bind that company or other legal entity to these PSP Service Terms and, in such event, “you” and “your” will refer and apply to that company or other legal entity.

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Clause 6.11

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marketsaltz may make access to and use of certain areas or features of the PSP Service subject to certain conditions or requirements, such as completing a verification process or meeting specific eligibility criteria.

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Clause 6.12

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We may make inquiries we consider necessary to help verify or check your identity or prevent fraud. In some jurisdictions, we have a legal obligation to collect identity information to comply with anti-money laundering regulations. This may include

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(i) asking you to provide a form of government identification (e.g., GST, EIN, Tax ID, PAN, Aadhaar, driving license or passport), your date of birth, your address, and other information;

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(ii) asking you to provide a copy of a recent bank statement on which your companies name and account number can be identified;

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(iii) requiring you to take steps to confirm ownership of your email address, Payment Methods or Pay-out Methods; or

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(iv) attempting to screen your information against third-party databases. marketsaltz reserves the right to close, suspend, or limit access to the PSP Service in the event we are unable to obtain or verify any of this information.

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Clause 6.13

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When you confirm an order you will be asked to provide customary billing information such as name, billing address, and bank account information either to marketsaltz or its third-party payment processor(s). You must provide accurate, current, and complete information.

The information required will include for wire payments:

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The company’s name and address on the Bank account statement

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IBAN number and Swift (BIC code) and or corresponding Bank information.

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Clause 6.14

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When you add bank wire payment information, marketsaltz may verify this information by asking you to authorize and transfer a nominal amount, not to exceed one rupee or one euro or one dollar. For further verification, we may require you to upload a bank account statement.

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Clause 6.15

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To verify your Pay-out Method, marketsaltz may send one or more payments of nominal amounts to your bank account. We may, and retain the right to, initiate refunds of these amounts from your Pay-out Method. When you add your bank account information we will automatically save that bank information to your marketsaltz Account so it can be used for a future transaction.

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Clause 6.16

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Please note that Payment Methods and Pay-out Methods may involve the use of third-party payment service providers. These service providers may charge you additional fees when processing payments and Pay-outs in connection with the PSP Service (including deducting charges from the Pay-out amount), and marketsaltz is not responsible for any of such fees and disclaims all liability in this regard. Your Payment Method or Pay-out Method may also be subject to additional terms and conditions imposed by the applicable third-party payment service provider; please review these terms and conditions before using your Payment Method or Pay-out Method.

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Clause 6.17

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By accepting the Terms of Service on marketsaltz, You authorize marketsaltz to store your Payment Method information and charge your Payment Method as outlined in these Payments Terms. If your Payment Method’s account information changes (e.g., account number, routing number, expiration date) as a result of re-issuance or otherwise, we may acquire that information from our financial services partner or your bank and update your Payment Method on file in your marketsaltz Account.

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Clause 6.18

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By accepting the Terms of Service on marketsaltz, You are solely responsible for the accuracy and completeness of your Payment Method and Pay-out Method information. marketsaltz is not responsible for any loss suffered by you as a result of incorrect Payment Method or Pay-out Method information provided by you.

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Clause 7 Terms and Financial Terms for Buyers

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Clause 7.1

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When creating a marketsaltz Account on the marketsaltz Platform you must

(i) provide complete and accurate information about your company that is asked in the registration and validation processes

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(ii) provide any other pertinent information requested by marketsaltz any time.

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You are responsible for keeping your marketsaltz Account up-to-date at all times.

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Clause 7.2.

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Pictures, animations or videos (collectively, “Images”) used in your marketsaltz Account must accurately reflect the quality and condition of your company. marketsaltz reserves the right to its requirement that your company information has a minimum number of Images of a certain format, size and resolution.

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Clause 7.3

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When you place an order as a Buyer, your order will be presented to the Supplier to confirm. After confirmation of your order by the supplier you will receive an order confirmation and a proforma invoice for the payment made by you. You may cancel the order any time before the delivery of the product and you may also cancel the order within 72 Hrs from receipt of the order if the, received product is not as per the ordered quality, quantity and purity standards displayed during the order placement on marketsaltz platform. When you confirm the order a legally binding agreement is formed between you and the Supplier provided that the marketsaltz validation process results in a positive qualification of both Buyer and Supplier.

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  Once the payment transfer of the total amount is received on the marketsaltz Secure Payment account, you and the Supplier will receive a confirmation message and email.

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Clause 7.4

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When you confirm the order you will be advised to provide marketsaltz with all information necessary to validate you and your company. This information includes amongst others financial related information and quality related information.

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Clause 7.4.1 Financial related information

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Only the first time an order is confirmed or when changes in the information details become apparent, Buyers need to upload:

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Billing information, such as the company name, billing address.

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If the delivery is in the same country as the Supplier or within the India GST number or EU the VAT number or EIN or Tax ID must be known to marketsaltz and you need to provide the GST / VAT / EIN / Tax ID Certificate proof to marketsaltz.

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For Buyers in China the USCI number of the company as issued by Chinese authorities.

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If a European IBAN account is available: IBAN bank account number and BIC/SWIFT code.

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If a European IBAN account is not available: an overview of the bank account details.

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Bank account currency needs to be the same as the currency of the order.

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A copy of a recent bank account statement (not older than 1 month) showing at least the company name and bank account number.

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Copy of the excerpt of the Chamber of Commerce of the Buyer company (not older than 1 year).

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Copy of the passport of the UBO(’s) (ultimate beneficial owner(s)).

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Mobile phone number of the subscriber of the company.

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marketsaltz has the right to ask for additional information if that is deemed necessary.

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You must provide accurate, current, and complete information.

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Clause 7.4.2 Quality related information

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Only the first time an order is approved or when changes in the information details become apparent, Buyers need to submit:

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All necessary documentation proofs that they are allowed to produce, trade or buy the specific chemicals, pharmaceutical raw material of the order.

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A copy of the passport and telephone number of the Pharmacist.

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You must provide accurate, current, and complete information.

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Clause 7.4.3

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marketsaltz will validate all the information that has been received under Clause 7.4.1 and Clause 7.4.2 and may ask for additional documents and or may contact the Fraud Authorities in the countries where Buyer is located and check if the specific Buyer is registered as a legal entity to produce, trade or buy the specific raw material.

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Clause 7.4.4

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marketsaltz will inform to the Supplier about the outcome of the validation.

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A positive validation does not necessarily mean that marketsaltz has received all the information under Clause 7.4.1 and Clause 7.4.2.

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There can be no communication regarding this internal validation process of marketsaltz.

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Buyer, Supplier and or other company or institution cannot derive any rights, or hold marketsaltz responsible or liable, of a positive validation by marketsaltz.

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If the validation is positive then the account of the particular entity will be live on our platform.

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If the validation is negative the account of the particular entity will be suspended and further orders will not be allowed by the platform.

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The Buyer or Supplier of whom the validation is negative will be removed from our platform.

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Clause 7.5

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When the Buyer confirms the order and shipment of the order is fully or partially at risk for the Buyer, marketsaltz recommends that the Buyer obtains appropriate insurance when the shipment is transported. Please review any respective insurance policy carefully, and in particular make sure that you are familiar with and understand any exclusions to, and any deductibles that may apply for, such insurance policy, including, but not limited to, whether or not your insurance policy will cover the shipment of the specific order in question.

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Clause 7.5

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After marketsaltz has confirmed that the total order amount is received on the marketsaltz Secure Payment account, Supplier will pack and make shipment ready marketsaltz logistics team (third party) will deliver the ordered raw materials / products at the buyers delivery location.

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Clause 7.5.1 (Overseas Buy transactions)

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The date on which Pay-outs to the Supplier are executed differ for each delivery condition.

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Applicable to overseas transactions only: In the event of EX works delivery condition marketsaltz will Pay-out the total order amount as explained in this Clause.

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It may be that on the date of the Pay-out, the shipment has not arrived at the company of the Buyer. However the shipment is after Ex-works delivery under custody of the transporter that is paid by the Buyer. The shipment is now at Buyers risk.

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Before Pay-out to the Supplier is effected, marketsaltz will verify with the Buyer if the shipment is indeed under custody of the transporter.

If the Buyer does, within 3 working days after marketsaltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, marketsaltz will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the confirmation has been received from the Buyer.

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If the Buyer does not, within 3 working days after marketsaltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, marketsaltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days, after the 3 working days period has ended and no dispute has been raised.

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If the Buyer opens a dispute within 3 working days after marketsaltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 7.5.2 (Overseas Buy transactions)

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In the event of CIF (Costs, Insurance and Freight) delivery condition marketsaltz will Pay-out the total order amount as explained in this Clause.

The date at which the order has been delivered in the warehouse or the port of destination needs to be confirmed by the Supplier to marketsaltz. It may be that on the date of the Pay-out, the shipment has not arrived at the Buyer company. However, the shipment will be under the custody of the transporter/logistics partner and payment has been done by the Buyer. In this case, the shipment will be at the  Buyers risk.

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Prior to the Pay-out to the Supplier, marketsaltz will verify with the Buyer if the shipment is indeed under custody of the transporter / logistics partner.

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If the Buyer does, within 3 working days after marketsaltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, marketsaltz will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the confirmation has been received from the Buyer.

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If the Buyer does not, within 3 working days after marketsaltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, marketsaltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the 3 working days period has ended and no dispute has been raised.

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If the Buyer raises a dispute within 3 working days after marketsaltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 7.5.3 (Overseas Buy transactions)

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In the event that a Buyer is confronted with a problem or want to raise a dispute, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will be applicable.

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Clause 8 Financial Terms for Suppliers

Clause 8.1

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When creating a marketsaltz Account on the marketsaltz Platform you must (i) provide complete and accurate information about your company that is requested in the registration process, (ii) provide complete and accurate information about the chemical, pharmaceutical raw materials and equipments you provide and about the quality documents and expiration dates of these documents from your company.

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You are requested to upload all available non expired quality documents and keep the uploaded documents up-to-date whenever they expire, and (iii) provide any other pertinent information requested by marketsaltz.

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You are responsible for keeping your marketsaltz Account up-to-date at all times.

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Clause 8.2

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Pictures, animations or videos (collectively, “Images”) used in your marketsaltz Account must accurately reflect the quality and condition of your company. marketsaltz reserves the right to have the required information from your company that has a minimum number of Images of a certain format, size and resolution.

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Clause 8.3

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The ranking of Suppliers on the result page of the marketsaltz Platform may vary and depends on a variety of factors:

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– complete and positive validation

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– turnover through the marketsaltz Platform

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– number of orders

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– average response time

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– other criteria.

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Clause 8.4

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When you act as a Supplier to receive an order from a Buyer, you will receive the order as submitted by the Buyer. However, It is at your sole discretion you may deny or confirm the order and or also add conditions if required but before 24 Hrs of receipt of order.

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When you confirm the order a legally binding agreement is formed between you and the Buyer provided that the marketsaltz validation process results in a positive qualification of both Buyer and Supplier.

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After a positive validation of both Buyer (see resp. Clause 7.4.1, Clause 7.4.2, Clause 7.4.3 and Clause 7.4.4) and Supplier (Clause 8.6.1, Clause 8.6.2, Clause 8.6.3 and Clause 8.6.4) is communicated to you. Once the payment transfer of the total amount is received on the marketsaltz Secure Payment account, you and the Buyer will receive a confirmation message and email from marketsaltz Platform.

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Clause 8.5

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When you confirm the order you will be asked to provide marketsaltz with all information necessary to validate you and your company. This information includes amongst others financial related information and quality related information.

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Clause 8.6.1 Financial related information

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Only the first time an order is confirmed or when changes in the information details become apparent, Suppliers need to submit:

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Billing information such as the company name & billing address.

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If the delivery is within the same country as the Buyer or within the India the GST number or in EU the VAT number or US the EIN / Tax ID number must be informed / supplied to marketsaltz.

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For Suppliers in China the USCI number of the company as issued by Chinese authorities.

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If a European IBAN account is available: IBAN bank account number and BIC/SWIFT code.

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If a European IBAN account is not available: an overview of the bank account details.

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Bank account currency needs to be the same as the currency of the order.

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A copy of a recent bank account statement (not older than 1 month) showing at least the Supplier company name and bank account details.

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Copy of the excerpt of the Chamber of Commerce of the Supplier company (not older than 1 year).

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Copy of the passport of the UBO(’s) (ultimate beneficial owner(s)).

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Mobile phone number of the user of the company.

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marketsaltz has the right to ask for additional information if that is deemed necessary.

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You must provide accurate, current, and complete information.

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Clause 8.6.2 Quality related information

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Only the first time an order is approved or when changes in the information details become apparent, Suppliers need to submit:

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All necessary documentation to proof that they are allowed to produce, trade or buy the specific chemicals, pharmaceutical raw material of the order.

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A copy of the passport and telephone number of the Pharmacists.

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You must provide accurate, current, and complete information.

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Clause 8.6.3

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marketsaltz will validate all the information that has been received under Clause 8.6.1 and Clause 8.6.2 and may ask for additional documents and or may contact the Fraud Authorities in the countries where the Supplier is located and check if the specific Supplier is registered as a legal entity to produce, trade or sell the specific raw material.

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Clause 8.6.4

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marketsaltz will inform the Supplier of the outcome of the validation.

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A positive validation does not necessarily mean that marketsaltz has received all the information under Clause 8.6.1 and Clause 8.6.2.

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There can be no communication regarding this internal validation process of marketsaltz.

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If the validation is positive then the particular entity account will be live and further order will be processed via our platform.

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If the validation is negative the particular entity account will be suspended and further order is not approved by the platform and is cancelled.

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The Buyer or Supplier of whom the validation is negative will be removed from our platform.

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Clause 8.7

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When you confirm the order after Buyer’s order confirmation and payment,  you will receive an invoice from marketsaltz charging you for our service fees (See Clause 10.).

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marketsaltz deducts the service free from the total order amount before remitting the Pay-out to you.

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Clause 8.8

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After our confirmation that we have received the payment from the Buyer for the ordered material you supposed to supply to Buyer, you as a Supplier must know that the total order amount is secured on the marketsaltz Secure Payment account.

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You are now obliged to deliver the order at the agreed delivery and all other specifications agreed between you and the Buyer.

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You explicitly agrees to never send the order to the Buyer prior to the payment confirmation receipt from marketsaltz. If you do not comply with this restriction marketsaltz will never be obliged to execute any pay-outs to you.

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Clause 8.9

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marketsaltz recommends that the Supplier obtains an appropriate insurance when delivering chemicals, pharmaceutical raw materials to a Buyer. Please review any respective insurance policy carefully, and in particular make sure that you are familiar with and understand any exclusions to, and any deductibles that may apply for, such insurance policy, including, but not limited to, whether or not your insurance policy will cover the delivery to the Buyer.

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Clause 8.10.1 (Overseas Transactions)

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The date on which Pay-outs to the Supplier are executed differ to each delivery condition.

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In the event of EX works delivery condition marketsaltz will Pay-out the total order amount as explained in this Clause.

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It may be that on the date of the Pay-out, the shipment has not arrived at the Buyer company. However the shipment is after Ex works delivery under custody of the transporter / logistics company that is transportation paid by the Buyer. In this case, the shipment is now at Buyers risk.

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Prior to the Pay-out to the Supplier is effected, marketsaltz will verify with the Buyer if the shipment is indeed under custody of the transporter/Buyer.

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If the Buyer does, within 3 working days after marketsaltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, marketsaltz will Pay-out the total order amount, minus service fees to the Supplier bank account 2 working days after this confirmation has been received.

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If the Buyer does not, within 3 working days after marketsaltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, marketsaltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account 2 working days after the 3 working days period has ended and no dispute has been opened.

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If the Buyer opens a dispute within 3 working days after marketsaltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 8.10.2 (Overseas Transactions)

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In the event of CIF (Costs, Insurance and Freight) delivery condition marketsaltz will Pay the total order amount as explained in this Clause.

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The date at which the order has been delivered in the warehouse or the port of destination needs to be confirmed by the Supplier to marketsaltz. It may be that on the date of the Pay-out, the shipment has not arrived at the Buyers company. However the shipment is now under custody of the transporter that is paid by the Buyer. The shipment is now a Buyers risk.

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Before Pay-out to the Supplier is effected, marketsaltz will verify with the Buyer if the shipment is indeed under custody of the transporter.

If the Buyer does, within 3 working days after marketsaltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, marketsaltz will Pay the total order amount, minus service fees to the Supplier bank account 2 working days after this confirmation has been received.

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If the Buyer does not, within 3 working days after marketsaltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, marketsaltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account 2 working days after the 3 working days period has ended and no dispute has been opened.

If the Buyer raises a dispute within 3 working days after marketsaltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 8.11

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In the event that a Supplier is confronted with a problem or want to raise a dispute, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will be applicable.

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Clause 8.12

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In order to receive a Pay-out you must have been submitted all relevant information as mentioned in Clause 8.6.1, Clause 8.6.2 and Clause 8.6.3.

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Clause 8.13

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Your Pay-out amount will be the total order amount minus Service Fees.

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Clause 8.14

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marketsaltz will remit your Pay-outs in the currency of the order that was confirmed. Amounts may be rounded up or down as described in Clause 11 (“Rounding Off”).

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Clause 8.15

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For compliance or operational reasons, marketsaltz may limit the value of each Pay-out. If you are due an amount above that limit, marketsaltz may initiate a series of Pay-outs (potentially over multiple days) in order to provide your full pay-out amount.

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Clause 9 Appointment of marketsaltz as Limited Payment Collection Agent

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Clause 9.1

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Each Buyer and Supplier entered into an order via marketsaltz Platform hereby appoints marketsaltz as a providing payment collection agent solely for the limited purpose of accepting funds from Buyers and Suppliers purchasing such services.

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Clause 9.2

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Each Buyer and Supplier agrees that payment made by a Buyer using the marketsaltz Secure Payment Service through marketsaltz platform, shall be considered the same as a payment made directly to the Supplier, and the Supplier will deliver the order of the chemicals, pharmaceutical raw materials to the Buyer according to all specifications agreed upon as specified in the order as if the Supplier has received the payment directly from the Buyer.

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Each Supplier agrees that marketsaltz may refund the Buyer in accordance with these marketsaltz Terms. Each Supplier understands that marketsaltz’s obligation to pay the Supplier is subject to and conditional upon successful receipt of the associated payments from Buyers. marketsaltz guarantees payments to Suppliers only for such amounts that have been successfully received on the marketsaltz Secure Payment Account in RUPEES or EURO or USD from Buyers in accordance with these marketsaltz Terms.

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In accepting appointment as the limited payment collection agent of the Supplier, marketsaltz assumes no liability for any acts or omissions of the Supplier.

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Clause 9.3

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Each Buyer acknowledges and agrees that, notwithstanding the fact that marketsaltz is not a party to the agreement between the Buyer and the Supplier, marketsaltz acts as the Supplier’s payment collection agent for the limited purpose of accepting payments from the Buyer on behalf of the Supplier. Upon Buyer’s payment of the total amount of the order to the marketsaltz Secure Payment Account in RUPEES or EURO or USD, Buyer’s payment obligation to the Supplier for the agreed upon total order amount is extinguished, and marketsaltz is responsible for remitting the funds to the Supplier in the manner described in these Payments Terms.

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Clause 10 Service Fees and other Fees

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Clause 10.1

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marketsaltz collects the Service Fees charged by marketsaltz pursuant to the marketsaltz Terms. Where applicable, marketsaltz may also collect Taxes (such as GST in India and VAT in Europe) in respect of the Supplier fees. As far is Pay/out is concerned marketsaltz deducts the service fees from the total order amount before remitting the Pay-out to the Supplier as described in these Payments Terms.

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Clause 10.2

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More information about when Services Fees apply and how they are calculated can be found on our Service Fee page on our website. marketsaltz may charge additional fees for use of certain Payment Services and any applicable fees will be disclosed to Buyers and Suppliers via the marketsaltz Platform.

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Clause 10.3

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marketsaltz will take all necessary steps to rectify any payment processing errors that occur so that the Supplier ends up receiving the correct amount for the order delivered.

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Clause 11 Rounding Off

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Clause 11.1

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marketsaltz may, in its sole discretion, round up or round down amounts that are payable from or to Buyers and or Suppliers to the nearest whole functional base unit in which the currency is denominated (i.e., to the nearest Rupee or Dollar, Euro or other supported currency); for example, marketsaltz may round up an amount of $101.50 to $102.00, and round down an amount of $101.49 to $101.00.

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Clause 11.2

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For currencies denominated in large numbers, marketsaltz may determine the functional base unit in which those currencies are denominated to be 10, 100 or 1,000 of the currency; the corresponding examples for such currencies would be for marketsaltz to round up an amount of 1,045 up to 1,050 and 1,044 down to 1,040, or 35,450 up to 35,500 and 35,449 down to 35,400, or 837,500 up to 838,000 and 837,499 down to 837,000.

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Clause 12 Currency conversion

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Clause 12.1

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marketsaltz has multiple accounts in Rupees and Dollars and Euro´s. When a Buyer executes a payment of an order only payments are accepted on the bank account of marketsaltz that is mentioned on the payment instructions that were submitted to the Buyer when receiving the order confirmation and pro-forma invoice. This bank account number corresponds with the currency that is agreed upon in the order between the Buyer and the Supplier.

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Clause 12.2

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Buyer will pay the total order amount as agreed in the currency that is mentioned on the order as well as in the payment instructions and that is agreed upon with the Supplier.

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If Buyer pays the total order amount in another currency marketsaltz will process the order considering the currency exchange rates applicable during the transaction to supplier (if supplier currency is different from buyer currency) and charge the Buyer with all costs that are involved in this remittance, including administration and banking costs.

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Clause 12.3 (Overseas Transactions)

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Buyer has only to pay the full amount of the pro forma invoice in one transfer. Multiple transfers for one pro forma invoice will not be processed and will directly be returned to the Buyer´s account and all costs that are involved in these remittances, including administration and banking costs will be charged and deducted.

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Clause 13 Ratings and Reviews

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Clause 13.1

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Within a certain timeframe after completing an order, Buyers and Suppliers can leave a public review (“Review”) and submit a star rating (“Rating”) about each other. Any Ratings or Reviews reflect the opinion of individual Buyers or Suppliers and do not reflect the opinion of marketsaltz. Ratings and Reviews are not verified by marketsaltz for accuracy and may be incorrect or misleading.

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Clause 13.2

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Ratings and Reviews by Buyers and Suppliers must be fair, truthful and factual and may not contain any offensive or defamatory language. Ratings and Reviews must comply with marketsaltz’s Privacy Policy. marketsaltz reserves the right to remove or un-publish ratings or reviews that do not comply with this policy.

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Clause 13.3

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Buyers and Suppliers are prohibited from manipulating the Ratings and Reviews system in any manner, such as instructing a third party write a positive or negative Review about another Buyer or Supplier.

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Clause 14 Disclaimers

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Clause 14.1

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If you choose to use the marketsaltz Secure Payment Services of marketsaltz, you do so voluntarily and at your sole risk. The marketsaltz Secure Payment Services are provided as is, without warranty of any kind, either express or implied.

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Clause 14.2

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Notwithstanding appointment of marketsaltz as the limited payment collection agent of Suppliers for the purposes of accepting payments from Buyers through the marketsaltz Platform, marketsaltz explicitly disclaims all liability for any act or omission of any Buyer, Supplier or other third parties.

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marketsaltz has any duties or obligations as agent for each Supplier except to the extent expressly set forth in these Terms, and any additional duties or obligations as may be implied by law are expressly excluded.

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Clause 14.3

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The foregoing disclaimers apply to the maximum extent permitted by law. You may have other statutory rights. However, the duration of statutorily required warranties, if any, shall be limited to the maximum extent permitted by law.

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Clause 15 Liability

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Clause 15.1

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You acknowledge and agree that, to the maximum extent permitted by law, the entire risk arising out of your access to and use of the marketsaltz Secure Payment Services remains with you. If you permit or authorize another person to use your marketsaltz Account in any way, you are responsible for the actions taken by that person. Neither marketsaltz nor any other party involved in creating, producing, or delivering the marketsaltz Secure Payment Services will be liable for any incidental, special, exemplary, or consequential damages, including lost profits, loss of data or loss of goodwill, service interruption, computer damage or system failure or the cost of substitute products or services, or for any damages for personal or bodily injury or emotional distress arising out of or in connection with

(i) these Terms,

(ii) from the use of or inability to use the marketsaltz Secure Payment Services, or

(iii) from any communications, interactions, or meetings with other Buyers and Suppliers or other persons with whom you communicate, interact, transact, or meet with as a result of your use of the (marketsaltz Secure Payment) Services, whether based on warranty, contract, tort (including negligence), product liability, or any other legal theory, and whether or not marketsaltz has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.

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Except for Buyers obligations to pay amounts to applicable Suppliers pursuant to these Payments Terms, in no event will marketsaltz aggregate liability arising out of or in connection with these (marketsaltz Secure Payments) Terms and your use of the marketsaltz Secure Payment Services including, but not limited to, from your use of or inability to use the marketsaltz Secure Payment Services, exceed the amount you have paid for your last pending order via the marketsaltz Platform as a Buyer, or if you are a Supplier the amounts paid by marketsaltz to you owed for your last pending order, or one hundred U.S. dollars (US$100 or INR.100), if no such payments have been made, as  applicable. The limitations of damages set forth above are fundamental elements of the basis of the bargain between marketsaltz and you. Some jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages, so the above limitation may not apply to you. If you reside outside of India, this does not affect marketsaltz’s liability for death or personal injury arising from its negligence, nor for fraudulent misrepresentation, misrepresentation as to a fundamental matter, or any other liability which cannot be excluded or limited under applicable law.

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Clause 15.2

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If you reside in India, marketsaltz is liable under statutory provisions for intent and gross negligence by us, our legal representatives, directors, or other vicarious agents. The same applies to the assumption of guarantees or any other strict liability, or in case of a culpable injury to life, limb, or health. marketsaltz is liable for any negligent breaches of essential contractual obligations by us, our legal representatives, directors, or other vicarious agents. Essential contractual obligations are such duties of marketsaltz in whose proper fulfilment you regularly trust and must trust for the proper execution of the contract but the amount shall be limited to the typically occurring foreseeable damage. Any additional liability of marketsaltz is excluded.

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Clause. 15.3

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marketsaltz does not represent or warrant that the website will meet particular requirements, or be available, accessible, uninterrupted, timely, secure or operate without error or that it will be free from viruses or other harmful elements.

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Clause. 15.4

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By using the website the Buyer and Supplier expressly acknowledges and agrees that in no event marketsaltz, its officers, directors, employees or agents will be liable in contract, tort (including negligence and breach of statutory duty) or otherwise for any direct, indirect, incidental, special,

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consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if marketsaltz has been advised of the possibility of such damages) resulting from:

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the use or the inability to use the marketsaltz Platform;

any misrepresentation made by any Buyer or Supplier on the marketsaltz Platform;

dealings between Buyers and Suppliers on the marketsaltz Platform whether or not those dealing arise in response to an advertisement on the marketsaltz Platform;

the cost of obtaining substitute goods and/or services resulting from any data, information or service obtained or messages received or transaction entered through an introduction via the marketsaltz Platform;

unauthorised access to or alteration of your transmission of data;

statements or conduct of any Buyer or Supplier or any third party that uses the marketsaltz Platform; or any other matter relating to the marketsaltz Platform.

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Clause. 15.5

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Nothing in these Terms shall exclude or restrict any liability for the death or personal injury arising from the negligence or fraud of marketsaltz.

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Clause. 15.6

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Any commercial transactions entered into by the Buyer and Supplier is strictly between the Buyer and the Supplier, not with marketsaltz. The website marketsaltz.com is a platform only and thus not involved in any transaction with the exception mentioned in Clause 6 and Clause 9.

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marketsaltz accepts no liability for the quality, delivery, payment or any other aspect of the contractual relationship between the Buyer and the Supplier.

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Clause. 15.7

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The information and advertisements on marketsaltz is not intended to address Buyers or Suppliers particular requirements. Such information does not constitute any form of legal, tax or investment advice or recommendation by marketsaltz and is not intended to be relied upon by Buyers and Suppliers in making (or refraining from making) any specific investment or other decisions.

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Clause 16 Problems and disputes between Buyers and Suppliers

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Clause 16.1

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In the cause of the delivery process problems and disputes might arise between Buyers and Suppliers.

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When a Buyer receives an EX Works condition delivery and notices any damages of the delivery, the Buyer must contact the insurance company which has insured the transport. The Buyer needs to solve this problem with the insurance company.

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When a Buyer receives a CIF condition delivery and notices any damages of the delivery, the Buyer must make a statement on the delivery note of the transporter. After this the Buyer must contact the Supplier via the marketsaltz messaging system and solve this dispute with the Supplier who in turn will contact the transporter and their insurance company which has insured the transport.

If the Buyer receives the product which does not meet the ordered quality, quantity and purity or packing damaged, within 72 Hrs the Buyer has to confirm to marketsaltz, the receipt order is as per his order requirement or not. If Buyer confirms the receipt order is as per the ordered requirement and or displayed during order, then marketsaltz will make the payment to Supplier. If the receipt order is not as per the order requirement and or displayed during order on marketsaltz, Buyer has to inform to the marketsaltz whether he want to replace order or cancel order with the Supplier within 72 Hrs of receipt of the order. The requests received after 72 Hrs of receipt of order will not be entertained by marketsaltz and is not responsible.

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Buyers and Suppliers agree to cooperate in a fair and trustworthy manner to solve the problem.

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marketsaltz is not a party, nor responsible to intervene.

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Clause 16.2

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When a Buyer receives the delivery and notices that any of the quality specifications of the order is breached, the Buyer must contact the Supplier via the marketsaltz support team within 72 Hrs of receipt of the order and solve this problem.

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Buyers and Suppliers agree to cooperate in a fair and trustworthy manner to solve the problem.

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marketsaltz is not a party, nor responsible to intervene.

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Clause 16.3.1

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If in the event of an EX Works condition delivery the Buyer cannot confirm if the shipment is under custody of its transporter, the Buyer must open a dispute of this non delivery and breach of the contract between the Buyer and the Supplier within 3 working days after marketsaltz has requested the confirmation. The dispute is only accepted when submitted through the dispute module in the marketsaltz Account. The dispute must be submitted prior to the pay-out schedule date.

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If marketsaltz decides that the dispute is justified marketsaltz will postpone the pay-out to the Supplier until the moment that the dispute is solved.

Withdrawal of a dispute also needs to be submitted through the dispute module in the marketsaltz Account.

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Suppliers explicitly agree to this postponement of the pay-out in this event.

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Buyers and Suppliers agree to cooperate in a fair and trustworthy manner to solve the dispute.

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marketsaltz is not a party, nor responsible to intervene, however marketsaltz will mediate between you and the supplier to resolve the dispute.

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Clause 16.3.2

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If in the event of an CIF condition delivery the Buyer cannot confirm if the shipment is under custody of its transporter or has arrived in their warehouse, the Buyer must open a dispute of this non delivery and breach of the contract between the Buyer and the Supplier within 3 working days after marketsaltz has requested the confirmation. The dispute is only accepted when submitted through the support team of the marketsaltz Account. The dispute must be submitted before 72 Hrs of receipt of the order. If marketsaltz decides that the dispute is justified marketsaltz will postpone the pay-out to the Supplier until the moment that the dispute is solved. Withdrawal of a dispute also needs to be submitted through the dispute module in the marketsaltz Account.

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Suppliers explicitly agree to this postponement of the pay-out in this event.

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Buyers and Suppliers agree to cooperate in a fair and trustworthy manner to solve the dispute.

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marketsaltz is not a party, nor responsible to intervene, however marketsaltz will mediate between the Buyer and the supplier to resolve the dispute.

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Clause 17 Accuracy of information and Disclaimer

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Clause. 17.1: Disclaimer

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marketsaltz is a website which presents producer and product related information about Suppliers, in the global chemical, pharmaceutical supply chain, which they have supplied to marketsaltz for their promotional purposes. marketsaltz provides “as is, where is and as available” basis and does not warrant the accuracy, completeness, reliability or timeliness of such information; nor does it warrant that it is fit for any particular purpose. If Users find any inaccurate information on marketsaltz please inform us at support@marketsaltz.com .

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Clause. 17.2: Disclaimer

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marketsaltz does not accept any liability for the veracity or accuracy of the information presented. marketsaltz does not endorse nor is responsible for the accuracy or reliability of any opinion, advise or statement made on the marketsaltz Platform. Any opinions, advice, statement, services, offer, or other information on the marketsaltz Platform are those of the Buyers and Suppliers and not of marketsaltz.com. No advise or information obtained from the marketsaltz Platform, whether written, by email or oral, will create any warranty or other obligation by marketsaltz.com if not expressly stated in these Terms. marketsaltz strongly recommends Users of the marketsaltz Platform interested in purchasing raw material(s) from Suppliers, to make their own due diligence of the Suppliers and of the raw material(s) prior to entering into a commercial transaction.

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Clause. 18 Copyright

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Clause. 18.1

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Copyright and all intellectual property rights in the content of the marketsaltz Platform are either owned by or are licensed to marketsaltz Platform and the content is protected by such rights including, without limitation, by copyright and under trade mark laws. All content on the marketsaltz Platform, including but not limited to designs, text, graphics, pictures, video, information, content, organisation, compilation, digital conversion, applications, software, sound and other files and their selection and arrangement is and shall remain the property of marketsaltz Platform or of those Buyers and Suppliers whose content is uploaded to the website.

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If a User of the website believes that intellectual property rights have been infringed, please notify marketsaltz.com at support@marketsaltz.com .

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Clause. 18.2

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No Website Content may be modified, copied, distributed, downloaded, posted, transmitted, reproduced, framed, republished or sold in any form or by any means, in whole or in part, prior to marketsaltz.com written permission. User(s) may not create a database in electronic or structured manual form by systematically and/or regularly downloading, caching, printing and storing all or any of the material held within the website.

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Clause. 18.3

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Buyers and Suppliers are granted a limited license to access and use the website and the Website Content and to download and print one copy of any portion of the Website Content to which you have properly gained access solely for use within your organisation and for the purpose of identifying business opportunities in the chemical and pharmaceutical sector.

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Clause. 19 Communication between Buyers and Suppliers

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Clause. 19.1

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Marketsaltz.com will provide facilities which enables Buyers and Suppliers to communicate with each other via email within the knowledge of marketsaltz without revealing their identity. In these communications both Buyers and Suppliers shall ensure that any such communication is truthful and accurate in all respects and that no such communication shall be inappropriate or objectionable. Buyers and Suppliers shall immediately comply with any request from any other Buyer or Supplier to stop communicating with them.

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Clause. 20 Links to other websites

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Clause 20.1

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Any link to the website of marketsaltz.com without written permission is prohibited. Notwithstanding authorisation to link to the website of marketsaltz.com, linking to any page other than the initial start page of marketsaltz.com is prohibited. Persons providing access to the website marketsaltz.com via a link from another website are solely responsible for the content, accuracy, opinions expressed, privacy policies, products or services of, or available through, the source website and for any representations made or impressions created concerning marketsaltz.com. Authorisation by marketsaltz.com to link to its website is given without assumption of any liability by marketsaltz.com relating to such links, and we hereby disclaim any such liability.

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Marketsaltz.com reserves the right to withdraw any authorisation to link to the website of marketsaltz.com at any time and for any reason. Anyone providing access to, or information relating to the website of marketsaltz.com, whether by link or otherwise, is responsible for bringing these Terms of Service to the attention of the person receiving such access or information. Failure to do so will not result in liability for marketsaltz.com.

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Clause. 21 Access to the website marketsaltz.com

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Clause. 21.1

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Users are responsible for making all arrangements necessary to have access to the website of marketsaltz.com.

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Clause. 21.2

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Access to the Website is permitted on a temporary basis. Marketsaltz.com reserves the right to terminate Users access to the website or any part if it or to withdraw any of marketsaltz.com services at any time, without notice, for any reason (including without limitation any breach of these Terms).

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Clause. 21.3

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While marketsaltz.com endeavours to ensure that the website is normally available 24 hours a day, marketsaltz.com shall not be liable if for any reason the website is unavailable at any time or for any period.

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Clause. 22 General

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Clause 22.1

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Any formal legal notices should be sent to marketsaltz.com by post at its legal address or by email. Failure by marketsaltz.com to enforce a right does not result in waiver of such right. Users may not assign or transfer their right under this agreement. Nothing in these Terms of Service is intended to, nor shall it, confer any benefit on a third party.

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Clause 23 Legal Jurisdiction

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Clause. 23.1

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If it turns out that a particular term is not enforceable, this will not affect any other terms.

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While using our services, Indian Law shall apply to these Terms of Service, notwithstanding the jurisdiction where Users are based. Users irrevocably agree that the courts of the Hyderabad, State of Telangana, India shall have exclusive jurisdiction to settle any dispute which may arise out of, under, or in connection with these Terms (including non-contractual claims of disputes) and for those purposes the parties irrevocably submit all disputes to the exclusive jurisdiction of the Court in Hyderabad, State of Telangana, India provided that marketsaltz.com shall not be prevented from seeking any court order or judgement in any other court of competent jurisdiction.

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Clause. 24: Further information

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Clause 24.1

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If Users have any questions regarding these Terms they may contact marketsaltz (dot) com at Plot No.396, Ground Floor, Sri Srinivasapuram Colony, Vanasthalipuram, Hyderabad, Telangana 500070, India or send an email to support@marketsaltz.com .

Important Disclosure:

Saltz™ is a trademark of Saltz India Pharma Laboratories Private Limited, marketsaltz is the part and parcel of Saltz India Pharma Laboratories (OPC) Private Limited. Restrictions apply, See Terms of Service for more detail. marketsaltz reserves the right to modify or discontinue its Services /Products or offerings at any time and without notice. All product names, logos, and brands are property of their respective owners. All company, product and service marks used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

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Marketsaltz.com  is a website operated by Saltz India Pharma Laboratories (OPC) Private Limited. By accessing this site and any pages thereof, you agree to be bound by its Terms of Use and Privacy Policy. Saltz India Pharma Laboratories (OPC) Private Limited is a B2B e-commerce platform for Chemicals, Pharmaceutical, Equipment trade and trade service facilitator; connecting Manufacturers/Suppliers and Buyers to global pharma intended businesses.