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Vendor Agreement for The Georgetown Marketplace

This Agreement is made between "The Georgetown Marketplace" (hereinafter referred to as the "Company") and those who choose to partner with the company to sell items.

1. Purpose

  • To outline the terms under which the Vendor's products will be advertised and sold on The Georgetown Marketplace website.

2. “Shelf Space” Fee

  • The Vendor agrees to pay a monthly shelf space fee of GYD 10,000.00 for the hosting and promotion of their products on the website.

3. Sales Commission

  • The Company reserves the right to increase the sales price of the Vendor's products by a percentage ranging from 10% to 25% or more depending on the type of product for each transaction as a sales commission.
  • Details of the percentage applied will be agreed upon during product listing.

4. Deliveries and Marketing

  • The Company will provide free delivery (for certain items. If there is a delivery fee, it will be paid by the buyer of said product) and marketing services for the products advertised on the Marketplace.
  • These cost services are included within the shelf space fee and the sales commission.

5. Compliance and Legal Obligations

  • Both parties agree to comply with all applicable laws and regulations of Guyana relating to retail, marketing, and e-commerce.

6. Vendor Responsibilities

  • The Vendor shall provide accurate product descriptions and ensure all products meet the quality standards expected by customers.
  • Any changes in product offerings must be communicated promptly to the Company.

 

7. Company's Rights

  • The Company reserves the right to refuse or remove any products from the Marketplace that do not comply with regulatory standards or fail to meet the quality criteria.

8. Term and Termination

  • This agreement shall commence on the date the vendor signs up and shall renew monthly.
  • Either party may terminate the agreement with a 30-day written notice.

9. Liability and Indemnity

  • The Vendor agrees to indemnify and hold harmless the Company from any claims, damages, or expenses arising from the sale or use of the Vendor's products.
  • Indemnify: The Vendor promises to compensate the Company for any losses, damages, or legal costs that result from claims related to the Vendors products. This might include (but not limited to) issues like product defects, or legal disputes initiated by third parties due to the products.
  • Hold Harmless: The Vendor agrees that the Company won’t be held liable for any claims or damages connected to the Vendor’s products, essentially protecting the Company from being dragged into lawsuits or legal action related expenses.

10. Miscellaneous

  • This Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
  • Amendments: The Georgetown Marketplace reserves the right to modify the terms of this agreement at any time.
    Vendors will be notified of changes via email or through the platform interface. Changes will become effective thirty (30) days after notification. Continued use of our services or platform following such notification will constitute acceptance of the amended terms. Vendors who do not agree with the revised terms may terminate the agreement by providing written notice within thirty (30) days of receiving the change notification.