I (the Seller) want to cancel my Trading Deal. Which requirements need to be met?

Updated July 08, 2024 22:40

Pamela Pinto

According to our xChange Trading Payment Handling Terms and Conditions:

For Pick-Up Deals the payout will be transferred to the seller 7 (seven) days after the provision of the release to the document trading deal.
For Gate-Buy Deals the payment will be transferred to the seller 7 (seven) days after the drop-off date of the last container.

This means a cancellation can only be requested by either the buyer or the seller within the 7 days that follow the provision of the release document.

*Important note: if both partners agree to the cancellation after 7 days, a request for cancellation can be processed. However, no one-sided cancellations are possible anymore.

I'm still within the 7 days after the release was provided, can I request a cancellation?

According to the xChange Standard Sales Contract, sub-clause 8:

a) The Seller may cancel the Transaction fully or partially if The Buyer does not fulfill one or multiple of his Main Obligations.

CONTAINER 4 copy.png

What are the main obligations of the buyer?

If the Buyer does not meet the Main Obligations as described below, this will automatically allow the Seller's cancellation request:

i) Payment of the agreed Sale Price to The Seller or xChange as its nominated agent latest by the Invoice Due Date.

ii) If pick–up of the Equipment has been agreed on in the Negotiated Sale Terms, and The Seller has provided a pick–up deadline: Picking up the Equipment within the given deadline.

This deadline cannot be shorter than 14 (fourteen) days from the moment of communication by The Seller (in writing on The Trading Platform).
Can earliest start from the day of provision of the Release Document to The Buyer.

iii) For Gate-Buy Deals (In case the Equipment is delivered to The Buyer): Providing a Drop–Off Document and enabling the delivery of the pieces of Equipment to the Buyer’s Depot latest 48 (forty-eight) hours after a Drop-Off Document has been requested by The Seller but earliest 14 (fourteen) days before the start of the delivery period agreed upon in the Negotiated Sale Terms.