If “Payment Handling” is selected in The Negotiated Sales Terms by The Buyer and The Seller, these Terms apply.
The Invoice for the Trading transaction will be created by xChange (as agent) in the name of The Seller. The Invoice is made available to The Buyer via The Trading Platform.
The xChange (as agent) will create a credit note for the Transaction for The Sellers account.
Payment due by The Buyer
Payment by The Buyer to xChange (as agent) is due immediately upon receipt of the Invoice and prior to the delivery of any units (unless otherwise indicated on the invoice). Payment has to be made to one of the accounts specified on the Invoice. Banking fees are to The Buyers account.
A 1.95% payment service fee applies to The Buyers account. This Service Fee is indicated on the Invoice.
Claim and Dispute Process
The Buyer has 7 days after the Release Date to assess the condition of the sold units upon pick-up and raise any complaints. In case the units are not of the condition agreed upon in The Negotiated Sales Terms, The Buyer has to inform The Seller as well as xChange (as agent) without delay.
xChange assesses if the complaints are valid either through pictures provided by The Seller / The Buyer or by surveying the units (costs for surveying are split across The Seller and The Buyer).
In cases of valid complaints, The Buyer can choose among the three options:
- Get a refund for those containers that did not meet the agreed condition (calculated on a per-container basis).
- Agree on a lower sales price for the units which did not meet the agreed condition and get a refund of the amount overpaid.
- Request The Seller to repair the units so that they meet the agreed condition. In cases in which repair costs are unreasonably high, The Seller can refuse the repair and option (a) applies.
For the avoidance of doubt, any fees for xChange-services (including but not limited to surveys, insurances, payment services) are not refundable.
Payment to The Seller
Payment of the sales price will be transferred to The Sellers wallet or to his bank account 7 (seven) days after the release date if no claims have been raised by The Buyer.
xChange deal assessment
As for any transaction on xChange, the contract between The Buyer and The Seller for the sale of the containers only comes into effect under the condition precedent of the approval by xChange (as agent). Amongst other checks, xChange assesses the past performance of The Buyer to ensure quick payments to The Seller.