A brief overview of our general terms and conditions is provided below, but please note that Moscord (including Moscord Supply and all Moscord affiliates) offers the use of this website, and its services and tools, conditioned upon your acceptance of all terms, conditions, policies and notices stated in the Full Terms of Service document provided below. By using this site and the services provided, including all information, tools, and services available from this site to you, the user, you agree to the full terms and conditions stated therein.

SIMPLY PUT (HOW WE WORK)

This is how the Moscord Trading Platform operates and how Moscord, as your reseller, processes orders made by Buyers for your products.

1. Supplier Prices are be negotiated between you, the Supplier, and Moscord in relation to each specific offer.
2. Moscord Market Prices shall be stipulated by you to us in your Catalogue Content.
3. Buyers order via the Moscord Marketplace at the stipulated price.
4. Suppliers ensure timely delivery of contracted products to agreed locations, Moscord manages final delivery to Buyer.
5. Moscord invoices the Buyer and remits payment to the Supplier upon receipt of funds from the Buyer.
6. Note: Supplier bears full liability for any and all liabilities or damages arising from Supplier’s products offered on the Moscord Marketplace.

FULL TERMS OF SERVICE

Trading Platform & Reseller Terms

Throughout this document, the terms “we”, “us” and “our” refer to Moscord Pte. Ltd., and all Moscord Supply and other subsidiaries and affiliates (hereafter collectively referred to as “Moscord”). Moscord provides: (i) the Trading Platform; (ii) Catalogue Implementation Service; and (iii) MS+ Service (each defined below and collectively referred to as “Our Services”) subject to these Trading Platform & Reseller Terms (the “Terms”) and all Rules and Policies posted on the Trading Platform. All policies and rules are incorporated into these Terms. You may wish to review the Acceptable Use Rules, Data Protection Rules, Shipping Rules, and Our Liability (Reseller) Rules. Non-compliance with these policies and rules may result in suspension of your account with us.

Please read these Terms carefully before using Our Services. By using Our Services, you signify your acceptance of these Terms.

Trading Platform

Moscord provides website features and other services to you, the Supplier, when your products are listed for sale on www.Moscord.com – an internet platform (the “Trading Platform”) where Moscord may list your products for sale and Buyers (i.e. Shipowners and Ship Managers) may view or place orders to purchase those products listed for sale.

Catalogue Implementation Service

You may provide to Moscord listings of your products that contain details and specifications of such products (“Catalogue Content”). By so doing, you grant Moscord the right to upload your Catalogue Content to the Trading Platform for the purpose of listing and marketing your products on the Trading Platform (the “Catalogue Implementation Service”). Moscord will indicate you as the source of your products listed on the Trading Platform unless otherwise instructed. By using the Catalogue Implementation Service, you agree that: (i) the products listed in your Catalogue Content are in compliance with these Terms and other Moscord policies; (ii) you are solely responsible for the accuracy, content and legality of the listing and item offered; and (iii) you will not hold Moscord or any of its affiliates responsible for any inaccuracies and illegalities in the Catalogue Content.

Trading Platform: Operations

Buyers may purchase products which you have granted Moscord the right to list on the Trading Platform (“Offered Products”). These Offered Products are sold to Moscord (“Your Offer”) at an agreed upon price (“Supplier Price”). Supplier Prices shall be agreed upon between Moscord and the Supplier and prices listed on the Trading Platfrom. Upon completion of a purchase for Offered Products and delivery to the Buyer, Moscord will issue an invoice to the Buyer for the aggregate price of the Offered Products in accordance with the prices indicated on the Trading Platform (“Moscord Market Price”), as stipulated by the Supplier in their Catalogue Content or otherwise agreed upon. Moscord will be entitled to collect full payment of the order from the Buyer. Once full payment from the Buyer has been received, Moscord shall pay you, the Supplier, the agreed upon Supplier Price for the aggregate items delivered. The specific procedures by which Buyers and Suppliers submit and accept orders for Offered Products on the Trading Platform may be found in our standard operating procedures (“Standard Operating Procedures”). Nothing in the Standard Operating Procedures constitutes a binding legal or contractual obligation on Moscord’s part, nor grants any exercisable or enforceable rights to the Supplier, and the terms therein are merely intended to outline the procedures with which we aim to handle our services and other matters of importance. As the Standard Operating Procedures deal with operational matters, they will need to be revised from time to time, and any changes will apply with immediate effect whether or not you have been notified of such revision.

MS+ Service

When a Buyer submits instructions to purchase Offered Products to Moscord, you are appointing Moscord to act as your reseller. As your reseller, Moscord will facilitate the sale and supply of your products to Buyers via the Trading Platform. The Supplier grants Moscord the right to:

I. Receive, manage and respond to all requests and queries by Buyers who decide to offer to buy your products;

II. Arrange, manage and complete the delivery of said products from a designated port hub to the delivery address as indicated by Buyer to us;

III. Issue order confirmations (“Purchase Order Confirmation”) and invoices to Buyers;

IV. Collect payment from Buyers for the aggregate price of the products according to the prices indicated on the Trading Platform.

The above covers the scope of service that Moscord provides as your appointed reseller (the “MS+ Service”).

After acceptance of Your Offer by Moscord, you, the Supplier, shall deliver the products in a timely manner and with no delay to the agreed upon locations. Please refer to our Standard Operating Procedures for more information regarding the delivery of products.

Your Offer: Sales Agreement between the Supplier and Moscord

Moscord’s acceptance of Your Offer shall in all cases be subject to the below conditions:

1. Moscord shall be entitled to keep the difference between the Moscord Market Price (or the price agreed upon between the Buyer and Moscord) and the price invoiced by you, the supplier, to Moscord; and

2. Moscord shall be obliged to pay you, the Supplier, the agreed upon Supplier Price only after Moscord receives full payment of the Moscord Market Price from the relevant Buyer(s) and in accordance with the agreed upon payment period.

INDEMINITY

In the event Moscord is unable to make full payment to you, the Supplier, within three (3) months of date of buyer purchase due to the Buyer’s failure to make the requisite payment to Moscord for the relevant delivery(ies), then you the Supplier shall be entitled to take all necessary steps against such Buyer in order to exercise the any and all legal rights available to you for the purpose of recovering any monies owed to you for said delivery(ies). While Moscord will not be obliged to assist your claim in such instances, we may at our sole and absolute discretion decide to do so. In such cases, you, the Supplier, agree to indemnify Moscord for all expenses, costs, losses, or damages suffered by us in the course of and/or arising from such assistance, including, but not limited to legal fees and costs. It is therefore advisable for Moscord and the Supplier to reach an agreement as to costs and approach prior to taking such legal action.

Price Adjustments, Changes to Product Specifications, etc

In the unlikely event that the Supplier wishes to propose a change to the price of a product, the Supplier must communicate this difference in price (“Price Adjustment“) to Moscord as soon as possible. Moscord is under no obligation, however, to accept such proposed Price Adjustments.

When a Price Adjustment occurs before confirmation of the order by the Buyer, Moscord will apply the new price(s) of the affected products on the Trading Platform within a reasonable time. In cases where a Price Adjustment has taken place, the following apply:

• In cases where a Price Adjustment occurs after confirmation of the order by the Buyer and receipt of a Purchase Order Confirmation from Moscord, we will use our best efforts to propose the Price Adjustment to the Buyer for their acceptance. The Buyer is not bound to accept the proposed Price Adjustment, however, and may, at their sole and absolute discretion, elect to cancel the order in question.
• In the event the Buyer rejects the Price Adjustment, the order shall be deemed to have been cancelled by the Buyer and neither Moscord nor the Buyer shall have any obligation regarding the cancelled order(s).
• In cases where the Buyer accepts a Price Adjustment, Moscord shall issue a revised Purchase Order Confirmation reflecting the relevant Price Adjustment and the order shall be completed in the manner agreed and stipulated in the revised Purchase Order Confirmation.
• In the event the Buyer rejects the Price Adjustment, Moscord shall arrange for the return of products to you within a reasonable time. Depending on the circumstances, we may arrange for the products to be repacked, transported back to the warehouse of origin, and/or stored in the interim.
• The Supplier agrees to bear any expenses and costs arising from such cancellation of an order by the Buyer, including any fees, costs and expenses imposed by third parties, including but not limited to repacking costs, transport costs, interim storage costs, fees (cancellation, customs, our administrative fees, etc.).
• Moscord is entitled to reclaim any costs arising from a cancellation from the Supplier.

With the exception of the above-mentioned Price Adjustment scenario, Buyers shall not be generally entitled to cancel a confirmed order. A Buyer may elect, however, not accept delivery of your products, and the order shall be deemed cancelled by the Buyer and subject to the above terms, in the following scenarios:

(i) the wrong product has been delivered;

(ii) there is material variance in the quantity and/or quality of products delivered;

(iii) the delivery has not taken place in a timely fashion and the Buyer’s vessel has departed from the port of delivery;

(iv) the delivery has not taken place in a timely fashion and while the Buyer’s vessel has not yet departed from the port of delivery, it is not practically feasible for products to be loaded to the Buyer’s vessel.

In such events, Moscord will enter into discussions with the Buyer and shall use our best efforts to attempt to remedy the situation. Such remedies may incur additional costs, which the Supplier agrees to bear.

The Supplier shall inform Moscord of any Price Adjustments by writing at the earliest opportunity. Timely notification may result in a higher likelihood that Moscord is able to reach an agreement with the Buyer regarding said Price Adjustment.

Quantity & Quality

If, for whatever reason, the product/service quantity or quality agreed upon is not available for delivery by reasonable means, and the Supplier cannot supply products or services in accordance with the Purchase Order Confirmation, Moscord shall be given notice of such variance in quantity or quality as soon as the Supplier is aware of such deviation from the agreed upon quantity or quality.

In cases of such quantity or quality variance, Moscord shall initiate discussions with you, the Supplier, as to how to best mitigate such variance. The Supplier assumes the responsibility for making best efforts to discuss, accommodate, and effect any recourse or remedy needed. Moscord may, at its discretion, offer the Buyer an appropriately reduced contract price for the relevant product(s). This may take the form of a proportionate or non-proportionate reduction, depending on the nature of the product(s) in question, and depending on the nature of the variance. Such remedies or compromises shall not waive any rights, damages or other recourse available to Moscord arising from such variance.

In cases where the variance is substantial, Moscord may, at our sole and absolute discretion, elect to reject or cancel delivery of the relevant product. In such cases, Moscord is not obliged to pay for the return of such products to the Supplier and the Supplier will bear all costs and expenses arising from such cancellation, including any fees, costs, and expenses imposed by third parties, including but not limited to repacking costs, transport costs, interim storage costs, fees (cancellation, customs, administrative fees), etc.

The Supplier agrees, without prejudice to the terms stated herein, that Moscord shall not be held liable for damages, loss, costs, or expenses of any type related to any product defect, any variance in product quantity or quality, or non-delivery or late delivery of the Supplier’s products.

Moscord’s Role and Obligations

Trading Platform: Our role in providing Suppliers with the use of our Trading Platform is limited to: (1) providing, operating, and maintaining the Trading Platform; (2) listing the Supplier’s products and updating catalogue content; (3) receiving Availability Requests from Buyers for the Supplier’s listed products; (4) issuing you, the Supplier, with a copy of the relevant purchase order(s); (5) purchasing products from the Supplier at the agreed upon price and selling Offered Products to Buyers; (6) arranging for the delivery of the Offered Products to Buyers; and (7) rendering payment due to Suppliers (invoices to Moscord) in accordance with this agreement.

MS+ Service: Any contract established for the confirmed sale of an Offered Product shall be between Moscord and the Buyer. Moscord acknowledges that it is a reseller of the Supplier’s products, and the Supplier agrees that Moscord is not responsible for any claims arising out of or in connection with defective products. Pursuant to these Terms, the Supplier agrees to indemnify Moscord for any costs or obligations or any other issue arising out of or in connection with any and all sales of your products through us or the Trading Platform.

Policy Violations

Moscord closely monitors the use of the Trading Platform and are constantly improving the services we offer in response to user needs. Maintaining a trusted marketplace for Buyers and Suppliers is Moscord’s top priority. As such, any violation of our policies will result in appropriate action, which may include the suspension or removal of your supplier privileges.

If you have any questions about our terms and policies, you may contact us via our website.

Your Contracting Entity

Moscord contains several subsidiaries which operate under separate legal entities. The specific entity that you contract with in respect to our services may vary on a market by market basis. Sales of products delivered to EU, UK, and Norwegian ports will be handled via Moscord Supply B.V., a Dutch registered company. Sales of products to Singapore and all other international ports will be handled by Moscord Supply Pte. Ltd., registered in Singapore.