General Trade Guarantee Instructions



The following provisions shall be referred to as the "General Trade Guarantee Instructions."


The parties hereto employ, authorize, and instruct Tradegurantee to act as Tradegurantee Holder and Tradegurantee Agent in connection with the transaction under the terms and conditions on the Transaction Detail Screens, these General Tradegurantee Instructions, Terms of Using the Tradegurantee Platform, and any supplemental Tradegurantee Instructions as hereinafter defined and all collectively referred to as the "Transaction Tradegurantee Instructions." Tradegurantee.com and Tradegurantee Limited are hereinafter collectively referred to as "Tradegurantee.com" and intermittently referred to as "we" or "us."


General Provisions


A person or entity offering personal property, goods, or services for sale and desiring to use the Tradegurantee.com site in order to close such a sale shall hereinafter be referred to as a "seller.".

A person or entity desiring to purchase personal property, goods, or services from a seller by using the Tradegurantee.com site to complete the purchase shall be referred to as a "buyer.".


The use of the Tradegurantee.com site (by the buyer or seller) for purposes of effectuating a single Tradegurantee-ed transfer of ownership of personal property shall be referred to as a "transaction.".


The completion of the transaction by buyer and seller is referred to herein as the "Close of Trade.".


A buyer and seller may enter into a transaction for the sale and purchase of many different types of personal property. This instruction refers to the personal property that is the subject of a transaction, interchangeably as "merchandise," "goods," "item(s)," or "products.". Funds deposited into Tradegurantee by the parties shall be referred to as "Tradegurantee Funds.".


The buyer and seller should each log onto the Tradegurantee.com website daily and regularly to confirm the status of the transaction, the shipping and tracking, and/or the closing.


The time of day and calendar day for all matters and events referred to in these instructions will be determined by West African Standard Time. All communications of any kind, for any purpose, shall be made in the English language. It is the responsibility of the buyer and/or seller (and broker, when applicable) to each know and understand the English language. Any party who requires interpretation to or from the English language for the purpose of making or receiving any communication relating to these instructions or the Terms of Using the Tradegurantee Platform shall be responsible for any of his, her, or its own respective costs in that regard.


The term “Business Day” shall refer to the working days Monday through Friday between the hours of 8:00 a.m. and 4:00 p.m. West Africa Standard Time, which are not legal holidays in Nigeria, as observed by Tradegurantee.com.


Payments made by check shall be subject to a ten (10) business day hold. Due to potential processing delays, payments made by credit card, debit card, USSD, or transfer may not instantly be reflected on Tradegurantee.com. It is the responsibility of users to check their Tradegurantee.com accounts and ensure that any payments made have been processed and are visible on Tradegurantee.com


Instructions and Deposit of Funds into Trade Guarantee


Once the buyer and seller (and broker when applicable) have agreed to identical transaction detail screens for a specific underlying transaction and both (and broker when applicable) have agreed to these general Tradegurantee instructions by selecting the "agree" button at the bottom of the transaction detail screens, these instructions shall constitute a binding agreement between all parties.

 

No blank spaces shall exist on the transaction detail screens as of the time the buyer and seller (and broker, when applicable) select the "Agree" button. After Buyer and Seller (and Broker when applicable) both select the "Agree" button, the Transaction Detail Screens, General Tradegurantee Instructions, and Terms of Using the Tradegurantee Platform constitute the Transaction Tradegurantee Instructions to govern the transaction between the Buyer and Seller (and Broker when applicable) (the "Transaction Tradegurantee Instructions"). Should it become necessary to add a supplemental instruction(s) or to make any addition to, deletion from, or alteration to the transaction detail screens, all parties (buyer, seller, Tradegurantee.com, and broker, when applicable) must execute (by digital signature or by a method mutually agreed upon by both parties) any supplemental instruction, addition, deletion, or alteration thereto (collectively the "Supplemental Tradegurantee Instruction(s)).

 

Tradegurantee.com reserves the right to reject any Supplemental Tradegurantee Instructions and to terminate the transaction as provided herein. Tradegurantee.com may accept instructions that are created, generated, sent, communicated, received, or stored by electronic means and by attaching their digital identification. The parties to the transaction hereby agree to conduct the transaction electronically. The parties acknowledge that by entering into the Transaction Tradegurantee Instructions, they are able to electronically receive the Transaction Tradegurantee Instructions, download the Transaction Tradegurantee Instructions, and print the Transaction Tradegurantee Instructions.


Shipping and Tracking of Item


Upon receipt of the buyer's funds and clearance of the same, the trade guarantee holder will notify the seller to ship the merchandise. This notice to the seller shall be accomplished via email, which will require the seller to log on to the Tradegurantee.com website to confirm secured funds, unless all parties lawfully agree to a different method of notification. Upon the seller's verification, the seller agrees to ship the merchandise, insured for full value, to the buyer. The buyer and seller agree to choose a shipping method that utilizes online tracking information. The seller shall ship merchandise to the buyer based on the information provided in the buyer's profile. The seller will be responsible for shipping damage if insurance is not purchased. The seller agrees to complete and submit the shipping information to the Tradegurantee.com website on the same day on which the merchandise is placed in the possession of the company responsible for shipping. Confirmation of the same will be sent via email to all parties, unless all parties lawfully agree to a different method of notification.


The Buyer Inspection Period (as defined in the Buyer and Seller's Transaction Tradegurantee Instructions, as agreed to on the Transaction Detail Screens of Tradegurantee.com) shall commence upon the first occurrence of either:


(1) Buyer's acknowledgment of receipt of merchandise or 

(2) the Tradegurantee.com website receipt of verification of delivery to the buyer's profile information via the shipper's or registrar's tracking services.


The buyer inspection period shall be calculated in full calendar days, the number of days to be agreed upon by the seller and buyer in the transaction Tradegurantee instructions.


In the event the seller has not shipped the goods within ten days of notification by Tradegurantee.com (through its email or posting on the Tradegurantee.com website) of the buyer's deposit of immediately available funds, the buyer may request a return of funds, less the Tradegurantee fee, and Tradegurantee.com will do so after notifying both parties.


Unless the parties agree otherwise, the buyer is responsible for any duties, customs fees, or other charges resulting from an international transaction, which shall be included in the purchase price. It is the responsibility of the shipping party to properly declare the merchandise and its value for customs procedures.


Buyer's Acceptance and Disbursement of Funds


During the buyer inspection period, the buyer shall either:


(1) select the "Accept" button on the Tradegurantee.com website and follow all further instructions accordingly to complete acceptance of the goods; or 

(2) Select the "Reject" button and follow any further instructions to complete the rejection of the goods. Should the buyer fail to select either the "Accept" or "Reject" buttons and/or follow all further instructions, then the buyer shall be deemed to be satisfied with the quality of the goods or domain(s) and to have accepted the goods.


Tradegurantee.com will then begin the process of disbursing the funds, as follows:


  • If, in the Transaction Tradegurantee Instructions, the Buyer agreed to pay for shipping and/or any portion of the Tradegurantee fee, then those costs shall be collected as Buyer's funds and remitted with the purchase price. At the close of Tradegurantee, Tradegurantee.com will pay the seller the purchase price and shipping fee itemized in the transaction, less any payment for expedited fees, and disburse the Tradegurantee fee to Tradegurantee.com.


  • If, in the Transaction Tradegurantee Instructions, the Seller agreed to pay for shipping and/or any portion of the Tradegurantee fee, then at the close of the transaction, Tradegurantee.com will pay the Seller the purchase amount, less any disbursement expedite fees, and any portion of the Tradegurantee fee. Shipping fees will be deemed to be paid outside of the trade guarantee.


Tradegurantee.com reserves the right to provide the buyer with a written 48-hour notice if an inspection period has ended without the buyer's involvement.


Buyer Rejection Process


The buyer is responsible for 100% of the trade guarantee fee in the event the transaction is cancelled or the merchandise is returned. During the buyer inspection period, the buyer may reject the merchandise for any reason by selecting the "Reject" button on the Tradegurantee.com site and following all other instructions to properly reject the merchandise. Upon such rejection, Tradegurantee.com will send the seller an email stating the buyer's decision to reject and return the goods, and the buyer agrees to promptly ship the goods to the seller within ten (10) calendar days of the formal rejection and insure, at the buyer's expense, the item(s) to the place designated by the seller in the seller's profile. The buyer will be responsible for shipping damage if insurance is not purchased. The buyer is aware that merchandise must be rejected in the manner described in order to obtain a refund of the purchase price.


In the event that the buyer rejects the goods in violation of other terms of acceptance and rejection applicable to the buyer and seller in connection with the underlying transaction (including but not limited to the Transaction Tradegurantee Instructions and Tradegurantee.com guidelines), the seller shall not be prohibited from pursuing any available right or remedy available under the Uniform Commercial Code or other applicable law against the buyer for breach of the transaction.


The buyer is aware that, regardless of the reason for rejection, trade-guaranteed property must be returned to the seller in order for funds to be returned to the buyer. Shipping costs for returned Trade Guaranteed property must be arranged and completed within ten (10) days of the buyer's rejection. Failure of the buyer to return the Tradegurantee ed property within the specified time period will cause Tradegurantee.com to automatically pay the seller the purchase price.


In transactions where the Tradegurantee ed property is a domain name, if a buyer rejects a domain name (which is not being held by Tradegurantee.com pursuant to a separate holding agreement) within the inspection period, the return of the domain name from the buyer to the seller must be initiated within ten (10) days of the buyer's rejection. Failure of the buyer to reject or initiate the return of the domain name within the specified time periods will cause the trade guarantee holder to automatically pay the seller the purchase price. The seller agrees to cooperate in the return process for the domain. In the event the domain transfer to the buyer has caused an ICANN-imposed registrar lock, the buyer and seller agree that the seller will open an account at the receiving registrar to take possession of the domain or that the funds will be held in Tradegurantee until this period expires and the domain can be returned to the seller’s registrar.


The following additional terms apply to Tradegurantee transactions that are referred to Tradegurantee.com from an external online marketplace, including but not limited to eBay, where that marketplace applies an authentication service to merchandise that is the subject of a Tradegurantee transaction:


(i) Where merchandise subject to a Tradegurantee.com transaction is purchased through an external marketplace and Tradegurantee.com is used as a method of payment, the underlying parties will be bound by the merchandise authentication rules and procedures of that external marketplace when completing the Tradegurantee.com transaction.


(ii) The relationship between the Underlying Parties and the referring external marketplace and merchandise authentication service is independent of the relationship between the Underlying Parties and Tradegurantee.com where it concerns the Tradegurantee.com transaction. Under no circumstances will Tradegurantee.com be liable for any loss suffered by the Underlying Parties resulting from the Underlying Parties’ engagement with an external marketplace or merchandise authentication service.


(iii) Where an external marketplace has a merchandise authentication service and the Underlying Parties engage with that authentication service, the progress of the Tradegurantee.com transaction may be determined in part by the outcome of that authentication service. Where the underlying parties engage with an external merchandise authentication service, the following will generally apply:


a. Where the authentication service and external marketplace determine that the merchandise that is the subject of the trade guarantee transaction is unauthentic or where authentication is unsuccessful, it is the responsibility of the underlying parties to engage with the authentication service and external marketplace to ensure the merchandise is returned to the seller.


b. Where the authentication service and external marketplace determine that the merchandise subject of the Tradegurantee.com transaction is authentic or where authentication is successful, it is the responsibility of the underlying parties to engage with the authentication service and external marketplace to ensure the merchandise is received by the buyer. A determination made that the merchandise is authentic or where authentication is successful will not affect the buyer inspection period, and the buyer may reject the merchandise for any reason by clicking the “Reject” button and following all other instructions on the site for rejecting the merchandise following Section 5 of these Terms.


c. Where the buyer rejects the merchandise and the external marketplace and authentication service require re-authentication of the merchandise before it can be returned to the seller, the buyer must follow all instructions from the external marketplace and authentication service as to where to return the merchandise for re-authentication. The buyer must not return the merchandise directly to the seller, where the external marketplace and authentication service require the merchandise to be re-authenticated prior to the merchandise being returned to the seller. When Tradegurantee.com receives confirmation from the external marketplace that the merchandise has been successfully re-authenticated and returned to the seller, Tradegurantee.com may return funds to the buyer at its discretion.


d. In any event, the maximum number of times the authentication process can occur will be determined by the external marketplace and merchandise authentication service, which operate independently of Tradegurantee.com.


e. The Underlying Parties authorize Tradegurantee.com to rely on information it receives from the external marketplace and authentication service regarding the authenticity and location of the merchandise in deciding when to release funds to the seller or return funds to the buyer.


f. The Underlying Parties agree that where merchandise is transacted through an external marketplace using Tradegurantee.com as the payment method, Tradegurantee.com will rely on information it receives directly from that external marketplace when deciding the status of an Tradegurantee.com transaction and whether to disburse Tradegurantee funds.


g. Where the Underlying Parties use Tradegurantee.com in connection with a transaction on an external marketplace and use its authentication service, Tradegurantee.com shall in no circumstance be liable for goods that are not returned or in any way damaged or altered in connection with the authentication service or involvement of an external marketplace in the Tradegurantee transaction.


(iv) Where merchandise that is the subject of a Tradegurantee transaction is transacted using an external marketplace and an authentication service is used in connection with that external marketplace, this authentication service is managed and operated exclusively by that external marketplace and not by Tradegurantee.com. It is the sole and independent obligation and duty of the Underlying Parties to satisfy any and all obligations to the external internet marketplace and authentication service in connection with the Tradegurantee.com transaction.

 

 Shipping and Tracking of Returned Item


By rejecting the item in the manner described above, the buyer agrees to return the item(s) promptly to the seller at the address designated by the seller in the seller's profile. The buyer is responsible for all related shipping and insurance costs and agrees to return the item to the seller by using a shipping method that utilizes online tracking information. It is the responsibility of the shipping party to properly declare the merchandise and its value for customs procedures.


Immediately upon shipping the goods back to the seller, the buyer shall complete and submit, through the Tradegurantee.com website, the requested shipping information. Upon receipt of such information, the seller will be notified by email from Tradegurantee.com, which includes the name of the shipping company and the relevant tracking number as supplied by the buyer. If the buyer sends the goods to the seller without following the guidelines set forth in this paragraph, then, in addition to any other remedies that Tradegurantee.com or the seller may have, Tradegurantee.com will not return to the buyer any of the Tradegurantee funds unless and until 


(1) the seller confirms that the rejected item has arrived in the same condition in which it was originally sent; 

(2) There is a final dispute resolution, as set forth in the dispute resolution section below. Should no shipping be necessary in order to effectuate the return of the merchandise, then the seller and buyer shall be free of the shipping and tracking obligations as defined in this section.


The seller inspection period shall commence upon the first occurrence of either:


(1) the Seller's acknowledgment of receipt of merchandise; 

(2) the Tradegurantee.com website receipt of verification of delivery to the Seller's profile information via the shipper's or registrar's tracking services; (3) the seller's failure to accept the buyer's delivery of returned goods; 

(4) the seller's failure to retrieve returned goods upon notification from the shipping company and/or any governmental office of the returned goods' availability for pickup. The seller shall have five (5) calendar days following the date on which the seller inspection period begins to inspect the "returned" merchandise or domain(s).


Seller Acceptance or Rejection of Return, Disbursement of Funds


The seller shall have five (5) calendar days following the date on which the seller inspection period begins to:

(1) select the "Accept" button on the Tradegurantee.com website and follow all further instructions to properly accept returned goods; or 

(2) Select the "Reject" button on the Tradegurantee.com website and follow all further instructions to properly reject returned goods.


During the seller inspection period, should the seller:


(1) fail to select either the "Accept" or "Reject" buttons on the Tradegurantee.com website; or (2) fail to follow all instructions in order to effectuate the acceptance or rejection of a returned item, then at the end of the seller inspection period, the seller shall be deemed to be satisfied with the quality of the returned goods and shall be deemed to have accepted the returned goods.


The seller may reject the timely return of trade-guaranteed property only if the property is returned in a condition other than the condition it was in when it was first sent from the seller to the buyer. Should the seller reject the item during the seller inspection period, the seller and buyer shall negotiate for the negotiation period, as defined below.


Should the buyer and seller fail to reach an agreement during the negotiation period and provide a joint instruction evidencing the same to Tradegurantee.com, either buyer or seller may file for arbitration (in accordance with the dispute resolution section below) at any time in the fourteen (14) calendar days following the negotiation period. If, as of the fifteenth (15th) calendar day following the end of the Negotiation Period, neither Buyer nor Seller has filed for and given notice of the commencement of arbitration in accordance with the Dispute Resolution section of these Instructions and given acceptable proof of the commencement of arbitration to the non-filing party and Tradegurantee.com, then Seller shall be deemed to have waived any rights Seller may have to a return of all or any portion of the purchase price, the transaction shall terminate, and Tradegurantee.com shall return Buyer's funds as provided herein.


Upon the first occurrence of either:


(1) the seller's acceptance of the returned goods; 

(2) the end of the seller inspection period; 

(3) On the 15th calendar day following the negotiation period, in the event of the buyer or seller's failure to commence arbitration (in accordance with the dispute resolution provisions of these instructions and notify all parties as provided therein), Tradegurantee.com will begin the process of disbursing the Tradegurantee Funds as follows:


  • If, in the Transaction Tradegurantee Instructions, Buyer agreed to pay for shipping and/or any portion of the Tradegurantee fee, Tradegurantee.com will pay Buyer the purchase price, less these costs, and Tradegurantee.com will pay Seller the shipping fee in the amount set forth in the Transaction Tradegurantee Instruction, disburse the Tradegurantee fee to Tradegurantee.com, and disburse the balance to Buyer.


  • If, in the Transaction Tradegurantee Instructions, the Seller agreed to pay for shipping and/or any portion of the Tradegurantee fee, then Tradegurantee.com shall pay the Buyer the amount deposited less Tradegurantee.com's fee.

  • If the buyer and seller agree that the item will not be shipped from the seller to the buyer prior to the close of Tradegurantee, then Tradegurantee.com will not deduct shipping fees from the buyer's required payment.


Once all costs are paid and funds are disbursed, the Tradegurantee shall be deemed cancelled, with no further obligation due by the buyer, seller, or Tradegurantee.com (or broker, when applicable) under this agreement or under the Transaction Tradegurantee Instructions. Tradegurantee.com reserves the right to provide the seller with a written 48-hour notice if an inspection period has ended without the seller's involvement.


Dispute Resolution


In the event of any dispute, claim, question, disagreement, or breach arising from or relating to Tradegurantee.com's Terms of Using the Tradegurantee Platform, these General Tradegurantee Instructions, the Transaction Detail Screens, or the Transaction Tradegurantee Instructions, including but not limited to the seller's rejection of returned goods, the buyer's or seller's acceptance or rejection of an item, and/or cancellation of the transaction, the buyer and seller (and broker when applicable) hereby agree to use their best efforts to consult and negotiate in good faith for the negotiation period, as defined below, to reach a solution satisfactory to all parties. If the parties reach an agreed-upon resolution, the buyer and seller (and broker, when applicable) will promptly notify Tradegurantee.com in writing by joint instruction of the terms and conditions thereof.

The following shall be referred to herein as the "Dispute Date":


(1) the Seller's Rejection of Return of the merchandise on the Tradegurantee.com website; or 


(2) Tradegurantee.com rejects merchandise or domain(s) on behalf of the seller if the seller is unable to gain access to the Tradegurantee.com website. The fourteen (14) calendar days beginning with the dispute date shall be referred to as the "Negotiation Period." If Buyer and Seller (and Broker when applicable) do not reach an agreed-upon resolution and notify Tradegurantee.com of the same in writing by a joint instruction during the negotiation period, either Buyer or Seller (or Broker when applicable) shall submit the matter to binding arbitration within fourteen (14) calendar days after the end of the negotiation period. This second fourteen-day period shall be referred to herein as the "Arbitration Commencement Period."


Notice that such arbitration has been commenced shall be promptly given, via e-mail, by the party commencing arbitration to the other parties and Tradegurantee.com. Before the buyer initiates a submission to arbitration, the buyer must return the trade-guaranteed property received by the buyer to the seller.


If Tradegurantee.com has not received notice that binding arbitration has been commenced within the Arbitration Commencement Period, Tradegurantee.com may terminate or cancel the transaction and refund the Tradegurantee Funds to the Buyer, less the Tradegurantee fee, in accordance with these instructions and the Transaction Tradegurantee Instructions. Tradegurantee.com reserves the right (but has no obligation) to commence arbitration or to interplead the funds with a court of competent jurisdiction at any time.


In this case, the buyer and seller (and broker, when applicable) authorize Tradegurantee.com to use the Tradegurantee funds to pay the administrative fees to initiate arbitration or to file a judicial action and process service of the summons and complaint. The party instituting the arbitration proceeding shall notify Tradegurantee.com and the other parties by sending a notice of demand for binding arbitration to the non-filing parties. Buyer and Seller (and Broker when applicable) agree to accept service of the notice of demand for binding arbitration via e-mail (via the e-mail addresses previously provided to Tradegurantee.com by Buyer, Seller, and Broker when applicable) and further agree that no further notice is necessary to have their dispute submitted to binding arbitration by either Buyer, Seller, (Broker when applicable) or Tradegurantee.com pursuant to this Section.


Unless the buyer, seller (and broker, when applicable), and Tradegurantee.com all agree otherwise, the arbitration shall be conducted before a single arbitrator who is a member of the Nigerian judiciary system. The party initiating the arbitration will make a written request to the arbitration provider, including a copy of this arbitration provision (the "Arbitration Request"). The arbitration request will include a notice with the names of the buyer, seller (and broker when applicable) and Tradegurantee.com, as well as the last known mailing addresses, telephone numbers, facsimile numbers, email addresses, and contact person for each and every party.


The arbitration request will be delivered concurrently to all parties, including Tradegurantee.com. Although Tradegurantee.com will be provided notice of the arbitration request and notice of the final award or decision of the arbitrator, Tradegurantee.com will not be an actual party to the arbitration proceeding to resolve the dispute between buyer and seller (and broker when applicable) unless Tradegurantee.com voluntarily elects to intervene.


The Arbitration Request will instruct the Arbitration Provider to select an arbitrator pursuant to the Arbitration Provider’s procedures existing at the time of the Arbitration Request. If the Arbitration Provider does not have an existing procedure for selecting an arbitrator, the Arbitration Request will instruct the Arbitration Provider to randomly propose the names of three potential arbitrators and for the Arbitration Provider to submit those three names to all parties concurrently (the "Arbitration Provider List").


No party may request to the arbitration provider that any particular arbitrator be included on the arbitration provider list. Any arbitrator specifically requested to be on the Arbitration Provider List is to be excluded. Each party may, within five days after receipt of the proposed names, strike and exclude one name from the list. Thereafter, the Arbitration Provider shall appoint as arbitrator a person whose name has not been struck from the list ("the Arbitration Provider Appointment") and an alternate. If for any reason the Arbitration Provider does not appoint an arbitrator within 15 business days of the submission by any party of its exclusion, either party may petition the Orange County Superior Court, Santa Ana, California, for the appointment of an arbitrator. Within 10 calendar days after the appointment of the arbitrator, the arbitrator will schedule a pre-arbitration hearing, which will be conducted by telephone and shall be held within the next ten business days.

The arbitrator shall have the power to enter a default award if a party fails to participate in the arbitration.


Unless Buyer, Seller (and Broker, when applicable) and Tradegurantee.com agree otherwise as set forth herein, the arbitration hearing shall take place in Nigeria at a date, time, and location selected by the arbitrator. The actual arbitration hearing must be commenced within 120 days after notice of the identity of the arbitrator is served (by either the arbitration provider or the superior court, as the case may be). The hearing must be concluded within 90 calendar days after it is commenced. A decision shall be rendered within 10 calendar days after the conclusion of the hearing. The arbitrator shall establish any deadlines necessary to accomplish these time requirements.


Each party to the arbitration shall pay a pro-rata share of the arbitrator's expenses and fees and the other arbitration expenses incurred or approved by the arbitrator, excluding attorney fees, witness fees, and other expenses incurred by a party for his or her own benefit. Because Tradegurantee.com is not a party to a dispute between buyer and seller (and broker when applicable), Tradegurantee.com will not be responsible for any portion of the arbitration expenses and fees. The parties shall estimate their costs and pay their estimated share before the commencement of the arbitration. Any extra arbitration costs shall be paid within ten business days after the close of the proceeding and before the award. A party that fails to pay its share shall not be allowed to participate in the arbitration. If a party fails to pay its share, the other parties shall pay pro rata the cost of the party that failed to pay. The arbitrator shall add such payment to the final award in such a fashion as to return the parties to the position they would have been in, to the greatest extent possible, if all had paid their share.

The arbitrator may award the prevailing party his or her expenses and fees of arbitration, including reasonable attorney fees and witness fees, in such proportion as the arbitrator decides.


Except as otherwise set forth in this Agreement, the arbitrator shall have the powers to determine the nature and extent of any discovery to be allowed and will also have all other powers provided in Nigeria.


Buyer and Seller (and Broker when applicable) understand and agree that failing to respond or otherwise comply with either party's or Tradegurantee.com's notice or demand for binding arbitration pursuant to this section and/or failing to participate in the arbitration process will without notice result in forfeiture of any and all rights that the non-responding Buyer or Seller (or Broker when applicable) may have with regard to the subject matter of the dispute, including but not limited to rights Buyer or Seller (or Broker when applicable) have to the Tradegurantee  Funds and/or any property associated therewith returned or distributed to them, and can result in a default judgment against such party.

Any award in such arbitration shall be final and binding upon the parties, and judgment thereon may be entered in any court of competent jurisdiction. The arbitrator will be instructed to serve a copy of the final award or decision on Tradegurantee.com, and Tradegurantee.com will comply with the arbitrator's final award or decision.


In the event of a dispute, the buyer and seller (and broker, when applicable) are aware that no action on closing the transaction will be taken on the part of Tradegurantee.com until such time as the dispute is resolved, except by either:


(i) Tradegurantee.com's receipt of a written notice of a joint instruction providing the terms of an agreed-upon resolution; or (ii) an order of the arbitrator or a court of competent jurisdiction in response to the buyer's or seller's (or broker's, when applicable) or Tradegurantee.com's action to institute binding arbitration in accordance with these instructions; or (iii) the order of the arbitrator or a court of competent jurisdiction in response to Tradegurantee.com's action for interpleader or other legal or equitable remedies. Tradegurantee.com shall have no responsibility and/or liability to initiate and/or continue to update either party regarding the status of the transaction, arbitration, or other legal proceeding. If instructed and all fees (the amount as set forth in the Terms of Using the Tradegurantee Platform in effect at the time) are paid in advance, Tradegurantee.com will place funds into an interest-bearing account with no further authorization required for the same. The disposition of the interest earned shall be decided concurrently with the resolution of the dispute.


THE OBLIGATION OF TRADEGURANTEE.COM, THE TRADEGURANTEE HOLDER, AND THEIR AFFILIATES SHALL BE LIMITED TO THE HOLDING AND DISBURSEMENT OF FUNDS UPON WRITTEN INSTRUCTIONS SIGNED BY ALL PARTIES OR AN AWARD FROM THE ARBITRATOR AND/OR JUDGE.


Tradegurantee.com may, in its sole discretion, institute the binding arbitration procedures set forth above and/or any other legal proceedings (including interpleading the funds with a court of competent jurisdiction) to resolve any dispute arising from a transaction between Buyer and Seller and/or related to Buyer's and Seller's respective use of the Tradegurantee.com site. Notwithstanding any other provision in these General Tradegurantee Instructions to the contrary, and regardless of whether Tradegurantee.com is identified as a party to any arbitration or other dispute governed by this section, nothing herein shall be construed to limit Tradegurantee.com's legal and/or equitable rights, including but not limited to the filing of an interpleader action in any court of competent jurisdiction.


Entire Agreement


In case of conflict between any of the terms of these General Trade Guarantee Instructions and our Terms of Using the Trade Guarantee Platform, or any of the agreements and any other agreements between any of the parties to a transaction, these General Trade Guarantee Instructions shall control. Any agreement between Buyer and Seller (and Broker when applicable) that is not reflected in either the Transaction Tradegurantee Instructions or these General Tradegurantee Instructions in no way binds Tradegurantee.com or any of the Tradegurantee.com affiliates. By submitting below, buyer and seller (and broker, when applicable) agree to be bound by the terms of these general trade guarantee instructions. Submission below shall constitute your electronic signature, as defined by Nigeria, to these General Tradegurantee Instructions and the Transaction Tradegurantee Instructions.


Governing Law; Venue


This Agreement will be construed in accordance with and governed exclusively by the laws of Nigeria applicable to agreements made among California residents and to be performed wholly within such jurisdiction, regardless of such parties' actual domiciles. All parties submit to personal jurisdiction in Nigeria. The aforementioned choice of venue is intended by the parties to be mandatory and not permissive in nature. Each party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to jurisdiction or venue with respect to any proceeding brought in accordance with these General Trade Guarantee Instructions.


Severability; Headings


If any provision herein is held to be invalid or unenforceable for any reason, the remaining provisions will continue in full force without being impaired or invalidated in any way. Headings are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such sections.


Force Majeure


If performance hereunder is interfered with by any condition beyond a party's reasonable control, the affected party will be excused from such performance to the extent of such condition.


Counterparts


These General Trade Guarantee Instructions may be executed in two or more counterparts, each of which will be deemed original and all of which together will constitute one instrument.


The parties may execute these General Trade Guarantee Instructions and forward an executed counterpart signature to the other party by electronic signature or fax, and the party receiving such executed counterpart by electronic or faxed signature shall be authorized to attach it hereto as a legal and valid signature of such executing party, including electronic or fax signatures.


However, if these General Trade Guarantee Instructions are executed in counterparts, no signatory hereto shall be bound until all parties have duly executed a counterpart of these General Trade Guarantee Instructions.


The parties hereto are authorized to treat an electronic or faxed counterpart signature as a duplicate original signature for any and all purposes.

End of General Trade Guarantee Instructions.

Revised December 19th, 2023


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