xChange only extends the Buy Now Pay Later offering in container trading to eligible customers. The eligibility of a customer is exclusively determined by xChange and can be revoked at any time for any reason.
Buy Now Pay Later structure
(1) Buyer and Seller agree on a transaction on the xChange container trading marketplace.
(2) With acceptance of the trading deal on the xChange container trading marketplace, the Buyer can choose to opt into the Buy Now Pay Later offering directly on the xChange trading marketplace deal page, assuming that the Buyer has a sufficient credit line with xChange available.
(i) In case the Buyer is an eligible customer, xChange grants the customer a credit line (visible on the xChange deal page).
(ii) For a Buy Now Pay Later transaction, payment handling via xChange needs to be enabled.
(iii) Depending on the Buyer’s available credit limit, the Buyer can choose from different payment term options (immediate payment, 14, 30 or 60 days).
(iv) By opting into the xChange container trading Buy Now Pay Later offering, the Buyer accepts the applicable fees for the selected payment term as outlined in the current commercial conditions below.
(3) For container trading transactions, where the Buyer opts into Buy Now Pay Later, the following structure is put in place:
(i) xChange agrees to buy the marketplace transaction containers from the Seller based on the terms agreed between the Seller and the Buyer. xChange pays the Seller as per the usual marketplace conditions and the usual process.
- The Seller acknowledges that xChange intends to sell the marketplace transaction containers to the Buyer under a separate agreement and agrees that all rights and obligations arising from the marketplace transaction shall ultimately be borne by the Buyer.
- Any changes to the marketplace transaction agreed between the Seller and the Buyer apply in the same fashion to the agreement between the Seller and xChange.
- Any cancellation of the marketplace transaction – for whatever reason and/or by either the Seller or the Buyer – renders the agreement between the Seller and xChange ineffective.
- The agreement between the Seller and xChange is also rendered ineffective in case the separate agreement between xChange and the Buyer – for whatever reason – does not come to bear or is rendered ineffective or void.
(ii) In a separate agreement, the Buyer agrees to buy the marketplace transaction containers from xChange. All terms as agreed between the Seller and the Buyer in the marketplace transaction apply.
The Buyer agrees to pay the full amount to xChange (i.e., deal value plus applicable fees, as invoiced) after the specified payment term. Payment is to be made to the bank details provided in the invoice by xChange.
xChange grants a grace period of 3 days after the scheduled due date to receive the payment from the Buyer, based on the invoice date and the selected payment term. Once a payment becomes overdue, xChange reserves the right to charge a late payment fee of 0.10% per day.
Current commercial conditions
Payment term options
All-in fee for a Buy Now Pay Later deal, as percentage of total deal value1,2
Late payment fee for overdue payments, based on total outstanding amount4
0.10% per day
Explanation of footnotes:
- Based on deal value agreed upon in the original marketplace transaction between the Buyer and the Seller.
- Payment handling activation is mandatory for a container transaction of an eligible Buyer to qualify for the Buy Now Pay Later offering.
- All-in fee includes the regular payment handling fee of 1.95%.
- Late payment fees may apply after the agreed payment term between xChange and the Buyer and a grace period of 3 days for xChange to receive the full amount including applicable fees.
Buyer’s credit line
The credit line granted to eligible Buyers by xChange is based on an ongoing third-party credit assessment , the operational performance of buyers and which is determined by their transactions on the platform and the financial reliability which relies mainly on their 7-day period invoice settlement. xChange reserves all rights regarding customer credit assessments and is not obliged to disclose any information relating to its credit assessment process. Furthermore, xChange reserves all rights regarding credit line decisions. However, xChange has also the right to ask for any further specific documents that would assist in the credit assessment process.
Standard Sale Terms
The Standard Sale Terms as per the “xChange Standard Container Sale Agreement” apply, except for modifications and alterations agreed between the Seller and the Buyer in the marketplace transaction.
Changes to the Buy Now Pay Later offer, credit line and commercial terms stated above are at the discretion of xChange.
These Buy Now Pay Later terms & conditions may expire at the discretion of xChange.
xChange reserves the right to unilaterally terminate any Buy Now Pay Later-related agreement prior to the end of the agreed payment terms.