Terms and Conditions Overview

Effective Date: 01/09/2024

These Terms and Conditions (“Terms”) govern the use of coSpare platform (“Platform”), which connects manufacturers (“Users”) in the same region to share, borrow, or purchase spare parts under unplanned shutdown conditions (emergency spare parts). By using the Platform, both suppliers and requesters agree to comply with and be bound by the following Terms.

1. Definitions

• Supplier: A User who lists available spare parts on the Platform for borrowing or sale.
• Requester: A User who seeks to borrow or purchase spare parts through the Platform.
• Part: Any electrical, electronic, or mechanical component listed or requested on the Platform.
• Transaction: Any arrangement between a Supplier and a Requester involving the borrowing, sale, or exchange of a Part.

2. User Eligibility

• Users must be registered companies operating in the manufacturing industry.
• Users must provide accurate and up-to-date information about their inventory, location, and contact details.
• Users must have the authority to enter into binding agreements on behalf of their respective companies.

3. Platform Use

• Suppliers are responsible for ensuring that Parts listed on the Platform are accurately described, available, and in working condition.
• Requesters are responsible for ensuring that their requests are genuine and that they have the necessary approvals to borrow or purchase the Parts.
• The Platform is only a facilitator and does not guarantee the availability, condition, or quality of any Part listed.

4. Transactions

• Negotiation: All terms, including price, borrowing duration, and delivery arrangements, are to be negotiated directly between the Supplier and the Requester.
• Payment: If a Transaction involves payment, it must be made directly between the Supplier and the Requester using their preferred payment method.
• Delivery and Pickup: The Requester is responsible for arranging the pickup and transportation of the Part. Any associated costs are the Requester’s responsibility unless otherwise agreed upon.
• Returns: If a Part is borrowed, it must be returned in the same condition as when received, unless otherwise agreed upon.

5. Liability

• Supplier’s Liability: The Supplier warrants that all Parts provided are functional and free from defects. However, the Supplier is not liable for any indirect, incidental, or consequential damages arising from the use of the Parts.
• Requester’s Liability: The Requester assumes full responsibility for the correct use and handling of the borrowed or purchased Part and is liable for any damages caused by misuse or negligence.
• Company’s Liability: The Company is not a party to any Transaction and bears no responsibility for the performance, quality, or outcomes related to any Part. The Platform is provided “as is,” without warranties of any kind, either express or implied.

6. Dispute Resolution

• In the event of a dispute between a Supplier and a Requester, both parties agree to attempt to resolve the matter amicably.
• If a resolution cannot be reached, the parties may submit the dispute to arbitration or any other agreed-upon dispute resolution mechanism.

7. Termination

• Users may terminate their account at any time by notifying the Company.
• The Company reserves the right to terminate or suspend any User’s access to the Platform without notice if the User is found to be in breach of these Terms.

8. Confidentiality

• Users agree not to disclose any proprietary or confidential information obtained through the Platform without the prior written consent of the disclosing party.

9. Intellectual Property

• All content, trademarks, and data on the Platform, including the software and databases, are the intellectual property of the Company or its licensors. Unauthorized use is prohibited.

10. Modifications to Terms

• The Company reserves the right to modify these Terms at any time. Users will be notified of significant changes. Continued use of the Platform constitutes acceptance of the revised Terms.

11. Governing Law

• These Terms shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of law principles.

12. Contact Information

• For any questions or concerns regarding these Terms, please contact [Your Company Name] at [Contact Information].

13. Dual Role Requirement

• Mandatory Participation: All Users must be prepared to act both as a Supplier and a Requester. Participation in the Platform is conditional upon fulfilling the following requirements:
  

  1. Spare Parts Listing: Each User must list a minimum of 10 spare parts from their inventory on the Platform. These parts should be accurately described, currently available, and relevant to the industries served by the Platform.
  2. Contact Information: Each User must provide at least two points of contact within their organization who are responsible for handling requests related to spare parts. This includes:
     

     • Contact Details:
       

       • Mobile Number: Direct mobile phone numbers for quick communication in case of an emergency.
       • Email Address: Valid and regularly monitored email addresses to ensure timely responses to requests.

• Responsibility to Update: Users are responsible for keeping their spare parts listings and contact details up to date. Inaccuracies or outdated information may result in the suspension of the User’s account.