Rules & Regulations
What manufacturers should know:
The rest 10% and security deposit will send to manufacturersâ account 2 months later if manufacturers do not receive complain and claim for compensation from buyers.
About security deposit
What do manufacturers do if cancel the order?
- Before the final date of project, manufacturer must compensate USD500 for our buyers' loss if ceasing project or repudiation of the contract.
- Reach the final date of project, manufacturer must compensate USD1000 for our buyers' loss if canceling the contract or repudiation of the contract.
Rule of Follow my Order
After your project passing the verification, you need to place a same order quantity that you have to your project.
Itâs a way to
- Showing the already have order quantity.
- Making other buyers share the same price.
- The first order that you place in your project is free from any fee in Buyerparty. Your first order is to let every buyer know your shared order information, include quantity and price.
- The set MOQ for whole project should less than your order quantity that you have in hand; then other buyers can benefit from you shared order.
What buyers should know:
We want to remind all buyers they are responsible for any local handling fees and intermediary bank handling fees when paying for the order or asking refund. Therefore, buyers should confirm total payment amounts with their local bank.
What do buyers do if buyer cancel the order?
- If canceling the order before the crowdfunding is finished, buyers are responsible for the bank charges only.
- If canceling the order or defaulting the contract within 5 days after project fulfilling, buyers should make an compensation of 15% total amount;
- If canceling the order or defaulting the contract over 5 days after project fulfilling, buyers should make an compensation of 30% total amount;
These rules donât cover every possible use of Buyer Party, but they present our purpose and perspective.