Terms & Conditions. Dated: 1st June 2020
Sourcesmart is a Trade name of FlocknSave Ltd
1.Acceptance of Terms and Conditions.
1.1. By accepting these Terms and Conditions you gain access to the services offered on the Sourcesmart® site.
1.2. If you do not deem the Terms and Conditions acceptable, you should not use the site.
1.3. Failure to adhere to the Terms and Conditions may result in your account being suspended or cancelled without notice.
1.4. The Terms and Conditions may be amended periodically and by continuing to use the service you agree to be bound by the new Terms and Conditions.
2.Becoming a Member.
2.1. Registration is free and available to New Zealand registered businesses.
2.2. Supplier members need to be verified by Sourcesmart® before they can use the site.
3.Buyer and Supplier Obligations when using the site.
3.1. You must be over 18 years of age.
3.2. You agree to use the site at your own risk.
3.3. You must be conducting business on behalf of a business entity and have a company officer or directors approval to transact on the site.
3.4. You agree all Bids, Pricing, Delivery, and Communications will be made in good faith.
3.5. You agree to input and maintain accurate information pertaining to registration details, pricing and specifications.
3.6 Your membership is FREE however we do charge a small variable 'success fee' to winning suppliers.
3.7. You may terminate your account at any time with the exception of transactions in progress, which must be completed prior to termination of your account.
3.8. You must not participate in any anti-competitive practices in relation to the site.
3.9. You as a Buyer, agree, on acceptance of an offer, to pay in full for 'goods' listed in that 'Voucher/Contract' as per the payment terms listed in the voucher.
3.10. You as a Supplier agree on release of the voucher of entitlement to make 'goods or services' available to the Buyer as per the terms in the voucher/contract.
3.11. Suppliers are required to input and maintain their individual List Pricing, Reserve Pricing & Terms and Conditions on the Sourcesmart® site. These are relevant in Buyer / Supplier transactions. A link to Supplier’s Terms and Conditions will be included in the voucher of entitlement, it is up to the Supplier to keep these current and accurate.
3.12. Sourcesmart® reserves the right to terminate or suspend your account at any time without prior notice.
4.General Terminology
4.1. Buyer: a business purchasing goods and services.
4.2. Supplier: a registered business supplying goods and services.
4.3. Product: Goods or Services available in a specified region.
4.4. Specification: A specific set of characteristics of a product, material, component, system or service including collection or delivery options, warranty and other commercial details of a particular product for the reference of both Buyers and Suppliers. Suppliers agree to abide by the specifications as part of all warranties and guarantees as part of the Buyer’s request for supply.
4.5. Units: The unit measure within which all pricing is based (e.g. KW/h of electricity, $$$ , % in finance, per container size etc). These are identified in the product specifications. Minimum quantities and increments of units are applied as necessary.
4.6. Price Reserve: Is used to provide a unit rate for all ‘Buy Now’ offers. Reserves are used as price indicators by Suppliers in RFP’s as suppliers need to manually input rates for all RFP’s.
4.7.1. RFP's: The process by which Suppliers and Buyers negotiate pricing.
4.7.2. RFP: Is a Buyers 'request for pricing'.
4.8. Contract RFP:
4.9. Best Bid: The best offer by the Supplier.
4.9.1. Buy Now: Buy Now provides unit pricing and available Qty’s as well as a description of the Suppliers product from one or more suppliers. Pricing can be changed at any time in the Suppliers Reserve area. Multiple purchases of single product can be made simultaneously.
4.10. Success fee: This is a fee charged to the winning Supplier, rates vary.
4.11. Deposit: From time to time there may be a product requirement for a deposit from the Buyer which will be shown on the voucher of entitlement and will need to be paid as part of securing a service at the agreed rate. Sourcesmart® will deduct our success fee from this figure and pass the remaining value on to the Supplier.
4.12. Vouchers: Buyers receive a 'voucher of entitlement' on acceptance of Suppliers Terms & Conditions and or payment. Suppliers receive a copy for supply.
4.13. Special Requests: Buyers can generate special requests for goods or services i.e. New Zealand made. Suppliers reserve pricing will not apply and must be priced individually based on the information supplied as well as the specifications.
4.14. Best Bid: This is the lowest offer for products listed in the RFP. The Buyer can accept or decline at any time up until 1 day after the RFP closes.
5.Our Service.
Sourcesmart® is a Business to Business an e-venue that enables multiple Buyers and Suppliers to more efficiently negotiate and transact generic goods and services. Sourcesmart® does not act as an agent for either party and is not in trade.
5.1.Product Specification:
5.1.1. Sourcesmart® provides a generic specification for the product and it is up to the Buyer and Supplier to read, understand and accept the specification as if their own. Sourcesmart® is not liable for errors or omissions made, it is up to the Buyer or Suppliers to accept or decline these specifications. Sourcesmart® reserves the right to update specifications without notice.
5.1.2. If a Buyer adds a 'special request' the supplier needs to take this into account. Buyers need to make it clear what they require when using a special request.
5.1.3. If there is any doubt on the specification or special request Suppliers should not make an offer.
5.2. Pricing Process
5.2.1. All prices are NZ$ per unit and exclude GST. The summary Supplier invoice includes GST.
5.2.2. Suppliers must select the products of interest by adding to 'Watch list' to be eligible to make an offer & receive requests. Suppliers are required to input and update their own List /Recommended Retail Pricing where required.
5.2.3. List/Recommended Retail Pricing should be reflective of Supplier’s actual market price.
5.2.4. A 'Reserve price' is used to provide unit price offers in 'Buy Now'.
5.2.5. Suppliers must guarantee they can provide the product at the indicated price and in the required volume within the specified time frames.
5.2.6. Suppliers can add or remove Price Reserve and RFP's at any time except the last 4 hours of RFP's each week.
5.3. RFP Processes - Buyer
5.3.1. By adding items to the cart and accepting the product specifications, a Buyer can request pricing from all eligible Suppliers by selecting 'RFP' and adding delivery details. Buyers can choose to accept or decline at any time except between 12am and 4pm each Wednesday.
5.3.2. All requests for pricing should be made in good faith, failure to do so may result in access removal from the site.
5.4. Bid Process - Suppliers
5.4.1. Suppliers add products to Watchlist to be eligible to participate and can input and update their own List /Recommended Retail Pricing at any time except the last 2 hours.
5.4.2. Suppliers are advised of 'RFP's' and they can 'Make an Bid' directly into individual RFP's at any time. If a offer is submitted it is a fixed commitment by the Supplier and the Supplier is legally bound to this offer.
5.4.3. The winning Supplier is appointed based on the lowest total net price and is bound to supply the product based on that price.
5.5 Acceptance
Whenever the Buyer accepts the product specifications, the offer and Suppliers terms and conditions the winning Supplier, must supply the goods or service as per the specification, payment, delivery terms and Buyer terms listed in the voucher/contract.
5.5 Buyer Acceptance and Voucher Release
5.5.1. Buyers are required to decline the offer or on acceptance agree to Supplier's 'terms and conditions' as part of the checkout process within 4 days.
5.5.2. When Buyers confirm the purchase of goods or services by acceptance, a 'voucher / contract' is released immediately to the Buyer and Supplier showing details and a contract between the Buyer and the Supplier.
5.5.3. Whenever payments are required for transactions where RFP's require payment to be held in escrow the Buyers must pay by Bank Transfer, Poli, or Credit Card, into the Sourcesmart® holding account within 4 working days after which the event will have closed to the Buyer.
5.5.4. Title of goods transfers from Supplier to Buyer on acceptance of goods by the Buyer.
5.6 Availability / Delivery / Transport to site
5.6.1. All availability is based on the details in the specification which is shown in the voucher, otherwise, all items will be made available as per the Buyers request to the delivery address or at the Suppliers nominated regional depot if collection is required.
5.6.2. Delivery/ transport to site is not included unless stated however, the product must be made available for collection by the Buyer or their agent within the identified region of the RFP and available from the Supplier's or their agent.
5.6.3. The Supplier or their agent must contact the Buyer and arrange collection.
5.6.4. Buyers must collect or agree to receive goods within 5 working days of being informed of their availability or delivery unless other arrangements are made in writing with the Supplier.
5.6.5. Buyers should always inspect goods and only accept goods if they meet the specification and quantity described on the voucher. Over supplied goods must be made available for Supplier to collect or they can be purchased at an agreed rate. If the order is not complete the Buyer should refuse to take the goods or contact Supplier immediately to remediate. If a Buyer does accept the goods and they are not correct the buyer needs to contact the supplier to resolve in the first instance.
5.7 Confirmation
5.7.1. On completion of the transaction, Buyers and Suppliers must confirm receipt of goods or services and can place feedback on the Supplier performance. This feedback is important as it is used to rate Buyer and Supplier performance. This information is held for a period of time but must only be used in the Sourcesmart® forum and remains private between both parties and Sourcesmart®.
5.8 Settlement
5.8.1. Settlement that has been agreed previously is set out in the Voucher depending on the transaction type.
5.8.1a. Standard settlement and title of sale are as per the 'Sale of Goods act 1994' .
5.8.1b. Unless otherwise specified or agreed between the Buyer and Supplier all Payments will be Cash on Despatch.
5.8.2. If a Buyer pays a deposit or full payment for products via Sourcesmart®, Sourcesmart® will hold the Buyers payment on behalf of the Supplier until the Buyer acknowledges receipt of Goods or Service at which time title for goods passes to Buyer.
5.8.2a On proof of receipt of product (by the Buyer) and or proof of delivery (by the Supplier) placed in the Sourcesmart® feedback area, the Buyer’s payment less a success fee will be transferred to Suppliers account within 5 working days. As part of Statement we will provide and invoice for the success fee value.
5.8.2b If a Buyer does not accept the goods for any reason the Supplier agrees that Sourcesmart® can and will refund the Buyer any money that has been paid for the said product on proof of return of the product to the Supplier.
5.8.2c. The Supplier will invoice the Buyer the full transactional value and not Sourcesmart® as Sourcesmart® is not in trade.
6.0. Refund Policy:
6.1. In a standard transaction the refund will be agreed between Buyer and Supplier.
6.1.a. The Supplier 'success fee' will not be refunded unless specifically agreed by Sourcesmart®.
6.2. Where a Buyer has paid via Sourcesmart® and a bank or credit card issuer requests a chargeback from Sourcesmart®, Sourcesmart® will refund the Buyer funds held on the Suppliers behalf and the contract of sale will be dissolved.
6.2.2. Any reversals of payments are at the discretion of Sourcesmart® at which time Buyer and Supplier will be advised immediately.
6.2.3. Should the Buyer not accept the product or service due Suppliers repeated failure to meet specification, quantity and or quality, the Supplier automatically gives permission for Sourcesmart® to return funds held by Sourcesmart® to the Buyer, once all goods in the Buyers procession are returned to the Supplier. The Buyer agrees to give up 'Title' of the goods once they have been returned.
6.2.4. If Goods & Service have been successfully transacted and any issue arises it is between the Buyer and Supplier to resolve.
7.0 Warranty & Guarantees:
7.1.This is between Buyer & Supplier based on the Product Specifications, the quantity ordered and the winning Suppliers Terms and Conditions.
8.0 Disputes:
8.1. Sourcesmart® is not in a trade with Buyer or Supplier and therefore will take limited part in dispute resolution. If a dispute cannot be resolved, Buyer’s and Supplier’s must seek resolution by arbitration. Any information required from Sourcesmart® by the Buyer, Supplier or their representative concerning a particular transaction must be requested in writing.
9.0 Force Majeure:
9.1 Sourcesmart® has no liability for lack of performance, unavailability, failure of service or failure to comply with the Terms & Conditions where failure arises from anything out of the control of Sourcesmart®.
10.0 Account Details:
10.1 Supplier’s and Buyer’s must keep their account details up to date.
11.0 Disclaimer:
11.1. Buyer’s and Supplier’s use the site at their own risk.
11.2. Sourcesmart® aims to provide reliable and secure services however we do not warrant services reliability or security.
11.3 Sourcesmart® does not hold credit card details and is not responsible for protecting members from credit card fraud.
11.4 Sourcesmart® does not guarantee error-free, non-interrupted or timely service.
11.5 Any information provided on the site should not be taken as advice and as such Sourcesmart cannot be held accountable.
12.0 Security:
12.1. Sourcesmart® uses AWS web services and SSL 28 Bit Encryption to provide optimal security.
12.2. Credit Card and Banking partners are PCI DSS compliant.
13.0 Governing Law:
13.1 Only New Zealand registered businesses may use the site and as such are governed by New Zealand law.
14.0 Intellectual Property:
14.1 FlocknSaveIP® owns all proprietary and intellectual property including software, graphics, logos. It is illegal to plagiarise, adapt, commercialise or sell, copy, reproduce, store, distribute, display or create derivative alternatives of any parts of this website.
15.0 Message Boards:
15.1 May not be used to promote business or transactions outside of the Sourcesmart® venue. Any opinions not posted by Sourcesmart®, are not representative of the opinion of Sourcesmart®. By posting a comment on the web site, the writer takes full legal responsibility for such comments.
16.0 Privacy
16.1 Sourcesmart® collects, uses and shares personal information about members as described in our Privacy Policy.
16.2 Suppliers may not use Buyers personal information to contact the Buyer for any reason other than to complete open transactions. Please refer to the Privacy policy