Home Supplier Partnership Agreement

Supplier Partnership Agreement (“Agreement”)


This Agreement is entered into between Masdarfood Ventures Enterprise with its registered address at 30, Jalan Teluk Kapas N27/N, Sentral 27, Seksyen 27 (“masdarfoodventures”) and “you”, as a seller who offer, lists and feature Products on the Platform for sale, and who shall fulfil the Products ordered and purchased by the Buyer (“Supplier”). (Each a “Party”, and jointly as “Parties”.)


This Agreement expressly incorporates masdarfoodventures's Platform Terms and Conditions which applies in addition to all other terms and conditions stated herein. By submitting an application or a registration for a Seller Account, you confirm, acknowledge and agree to the terms and conditions set forth in the Platform Terms and Conditions and in this Agreement.


If you do not agree to any of the terms herein, please do not create a Seller Account.


Definitions


1. In this Agreement, where the context so admits, the following expressions shall have the meaning designated hereinbelow unless otherwise stated:-

"Buyer"

means the buyer of the Products;

“Complimentary Basic Digital Marketing Services”

means the basic digital marketing services, if available for the Supplier Package you selected, provided on complimentary basis at the sole discretion of masdarfoodventures and is revocable / may be withdrawn at any time;

“Platform Terms and Conditions”

means the terms and conditions available and found in (https://masdarfoodventures.store.borong.com/terms-and-conditions) which you have read, understood and accepted by accessing to and using the Platform;

“Platform”

means masdarfoodventures websites (including https://masdarfoodventures.store.borong.com, mobile sites and mobile applications;

“Products”

means the products, items, goods and/or services made available by you on the Platform;

“Supplier Package”

means the supplier package you have selected prior to the activation of Supplier storefront;

“Supplier Package Fees”

means the fees payable for the supplier package you have selected prior to the activation of Supplier storefront.

Terms & Conditions


2. Any payment for Supplier Package Fees shall be made upfront, prior to the activation of Supplier storefront on the Platform. Supplier Package Fees are strictly non-refundable for any reason whatsoever.


3. Suppliers are allowed to request for cancellation, upgrade or downgrade of their Supplier Packages at any time, provided that a formal written notice has been served to masdarfoodventures and any changes to Supplier Packages, if approved by masdarfoodventures, will be made available thirty (30) days from the date of the written notice and upon such terms as may be imposed by masdarfoodventures.


4. Strictly for supplier accounts managed by masdarfoodventures only: Prices for all Suppliers’ Products shall be maintained in accordance to the pricing information provided to masdarfoodventures, unless a formal written notice for changes in Products pricing substantiated by reason(s) has been provided to masdarfoodventures, and provided that there is no objection from masdarfoodventures, the change of price will take effect thirty (30) days from the date of the written notice.


5. Product prices listed on masdarfoodventures.store.borong.com must be competitive.


6. Commission rate set is non-negotiable within the first twelve (12) months, once products are listed on masdarfoodventures.store.borong.com.


7. Complimentary Basic Digital Marketing Services redemption is only valid if the Supplier storefront has been successfully set up within ten (10) working days after account creation which includes the upload of product listings and store banner(s), and any store launch promotions.


8. Account will be deactivated by masdarfoodventures if Products are not listed on the Platform within fifteen (15) working days after the account has been created.


9. Supplier is responsible for designing their required digital banners.


10. Supplier shall fulfil orders to Buyers within five (5) business days from the receipt of orders, or within any other agreed acceptable fulfillment timeframe between Supplier and masdarfoodventures, either directly or via masdarfoodventures's Third-Party Logistics partner (3PL).


11. Supplier acknowledges and agrees that all sales transactions for orders placed on masdarfoodventures.com shall be processed by masdarfoodventures on behalf of the respective Supplier. Payment disbursements to Supplier for each sale on masdarfoodventures.com, less commissions to masdarfoodventures; shall be performed each Friday, following a successful order fulfilment in the previous week.


For the avoidance of doubt, this Agreement shall not be interpreted or construed to create a partnership or joint venture between the Parties hereto.


This Agreement is valid for a period of twelve (12) months commencing from the successful creation of your account (“Term”) and unless either Party gives the other written notice of its intention not to renew this Agreement at least thirty (30) days before the end of the Term, this Agreement shall be renewed automatically for successive terms of twelve (12) months each (each a “Renewal Term”) until either Party gives the other written notice of its intention not to renew this Agreement at least thirty (30) days before the end of any Renewal Term.


This Agreement may be terminated by either Party with cause and provided that at least one (1) meeting has been held between masdarfoodventures and Supplier prior to the effective date of termination in attempt to resolve the cause of termination, without prejudice to all other rights and remedies available to masdarfoodventures under the Platform Terms and Conditions.