Terms of Service
Please read these terms carefully before using Nexum.
1. Acceptance of Terms
By accessing or using Nexum's services, you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use our services.
2. Description of Service
Nexum provides a bid-driven marketplace where buyers can place bids on products and suppliers can accept or reject those bids based on market dynamics.
3. Bid Collateral
All bids on Nexum require a 2.9% collateral deposit. This deposit serves as a commitment mechanism and helps ensure authentic demand signals. The deposit will be:
- Applied to your final purchase price if your bid is accepted
- Refunded in full if your bid is rejected by the supplier
- Forfeited if you withdraw your bid after submission or fail to complete a purchase when your bid is accepted
4. User Accounts
Users must register for an account to place bids or list products. You are responsible for maintaining the confidentiality of your account information and for all activities associated with your account.
5. Prohibited Activities
Users may not engage in any of the following activities:
- Violating any applicable laws or regulations
- Submitting false or misleading information
- Manipulating the bidding process
- Interfering with the proper operation of the platform
- Attempting to access other users' accounts
6. Product Listings
Suppliers are responsible for ensuring that their product listings are accurate and not misleading. Nexum reserves the right to remove any listing that violates our policies.
7. Payment Terms
All payments are processed through our secure payment system. Nexum charges a service fee on successful transactions.
8. Termination
Nexum reserves the right to terminate or suspend accounts that violate these terms or engage in fraudulent activity.
9. Changes to Terms
Nexum may modify these Terms of Service at any time. Continued use of the service after changes constitutes acceptance of the new terms.
10. Contact Information
If you have any questions about these terms, please contact us at info@nexum-marketplace.com.
Last updated: May 7, 2024