Please read these Rules carefully, and understand them before committing to any contractual agreements. Application of these Rules shall be subject to the relevant transaction setting in SinoB2B.com ( named as Smart Transaction System / STS ). The services of STS are only provided to registered users who had duly agreed to all the transaction terms of SinoB2B.com .
1.SinoB2B.com: the website developed by Shenzhen Globex Technology Inc. which provides online transactions and digital supply chain services for buyers and suppliers.
2. Smart Transaction System ( STS ): the service system in SinoB2B.com, which is used to manage and fulfill the trading process automatically in accordance with the agreement and contract between Buyer and Supplier
3.e-Contract: the Contract based on Purchase Order, which is confirmed by buyer and supplier on the SinoB2B.com
4. Online Transaction Service: the service dedicated to buyer and supplier to sign e-Contract on-line and implement their transaction via Smart Transaction System
5. STS: the service system in SinoB2B.com, which is used to provide various gateways for buyer to make their payment and manage its funds.
6. Deposit: the funds that is given by buyer as the first part of total payment
7. Balance: the funds that is given by buyer as the last part of total payment
8. Dropshipping Operation: one of supply chain management mode, where the buyer keeps the stocks at the warehouse nominated by SinoB2B.com in China, and then the warehouse operator will ship the goods directly to the end customer by international Courier after e-fulfillment is done.
9.DDU Operation (B2B): one of supply chain management mode (Inconterms of the Delivery Duty Unpaid), where the buyer keeps the stocks at its destination local warehouse. Under this mode, SinoB2B takes the responsibility to deliver the cargo in bulk from China to buyers local warehouse by sea-freight or air-freight or railway which is agreed by buyer in advance. Buyer takes responsibility to proceed the customs clearance and pays for the related Tax in destination country by its self or nominated customs broker.
2.1 e-Contract refers to the agreement negotiated between and reached by buyer and the Supplier. The detailed process is:
2.1.1 Buyers select products, negotiate the prices, and place initial purchase order on SinoB2B.com
2.1.2 The Supplier proposes a draft e-Contract and send it to buyer for confirmation
2.1.3 The Buyer makes the final confirmation of the e-Contract The main terms of e-Contract should be inclusive of but not limited to product quantity and prices Delivery Date, the amount of deposit and balance and payment time etc .
2.2 Please be noted that the confirmed e-Contract is deemed as basic formal evidence for the transaction, and both buyer and supplier agree to employ Smart Transaction System to manage the whole trading process.
STS is the system for managing the whole trading process and securing the payment for buyer till the supplier implement its obligation of the e-Contract properly.
STS will conduct the following functions:
3.1 To cross check the information of Packing List, Cargo Receipt (at original nominated warehouse) and e-Contract, and ensure that the supplier has delivered the cargo properly.
3.2 To hold the payment of buyer in the designated Bank-Trust-Account until supplier��s successfully delivered the cargo as per e-Contract
3.3 To link up with the Bank System and provide payment and settlement information to both buyer and supplier for monitoring their funds.
4.1 Buyer is allowed to make payment in two steps by Deposit and Balance. The ratio and time of the two payments can be negotiated and confirmed by the Buyer and Supplier through e-Contract and set in Smart Transaction System .
4.1.1 Deposit: Once the Deposit is received by SinoB2B.com in its Bank-Trust-Account, the Supplier should take the responsibility to prepare the cargo and deliver to the warehouse in China which is nominated by SinoB2B.com.
4.1.2 Balance: Once the cargo arrives at warehouse destination country which is nominated by SinoB2B.com, the Buyer should take the responsibility to pay the Balance.
Please notice that the cargo could not be picked up if Buyer fails to make full payment.
4.2 The warehouse operators nominated by SinoB2B.com in China handle the cargo by below process
4.2.1 Scan and count when accepting cargo, undertake the inventory management,
4.2.2 Issue document of Cargo Receipt to supplier.
4.2.3 Proceed the Customs clearance by submitting the relevant documents such as Commercial Invoice, Packing List, Customs Clearance Sheet etc.
4.2.4 Consolidate the cargo into sea or air containers and effect the shipment.
4.3 Under the rules of on-Line Transaction service, Smart Transaction System cross-checks the data from the Packing List ( provided by the Supplier for Customs clearance ), the Cargo Receipt ( provided by the warehouse operators nominated by SinoB2B.com ), and the e-Contract ( signed by buyer and supplier on SinoB2B.com ) . When and only when all the data in Packing List and Cargo Receipt are consistent with that in the e-Contract, it is deemed that the suppliers has already duly fulfilled the order at original port without failure, and SinoB2B.com directs the designated Bank to release the deposit to supplier in accordance with e-Contract.
4.4 Under the Rules of on-line Transaction service, the supplier could not get Deposit payment in the any of below event:
4.4.1 the Supplier has failed to deliver any products on or before the Delivery Date or did not deliver the products pursuant to e-Contract
4.4.2 the Supplier has failed to deliver products which are in compliance with the quantity of products in the e-Contract
4.4.3 the Supplier has failed to deliver products which are in compliance with the product description and specifications as set out in the e-Contract.
4.5 In the case of any discrepancy among the data in Packing List, Cargo Receipt and that in the e-Contract, Smart Transaction System will alert both Supplier and Buyer the discrepancy accordingly. Supplier should consult with the Buyer to either modify e-Contract or make other arrangement. During this period, SinoB2B.com should be in the position of holding the cargo on behalf of the Supplier and the funds on behalf of the buyer till both of them reach to new agreement.
4.6 Under the rules of on-Line Transaction service, Smart Transaction System monitors and manages the shipment when the cargo arrives at the port or warehouse in the destination. Buyer has to pay the balance and all surcharges incurred in the destination port or warehouse before picking up the shipment.