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Terms & Conditions

Steellot Seller Terms and Conditions:


All steellot sellers shall agree to the following terms and conditions. By registering in steellot as a seller you have accepted the steellot seller terms and conditions. The terms and conditions may not be misinterpreted, or misunderstood to change the intent of the conditions. Incase terms or conditions are felt that they are not clearly stated then the clarification may be requested by contacting the attorney of steellot or employees of steellot. In no situation the employees of steellot or the owners of steellot are considered to be liable for any discrepancies or statements or the services provided in steellot.

  1. Steellot has the right to cancel or refuse services to a company or personnel if they are a threat to steellot in any form or manner or deemed not to be qualified as a seller in steellot.
  2. The prices provided in trading steel may change frequently and the sellers are responsible to update the prices in steellot and may contact steellot for the purpose of update. The buyer may always request the recent quote and the seller should always provide the quote in US dollars.
  3. If required steellot may provide an escrow account to transfer payment on the order but the transfer to seller shall be made only after buyer confirming to steellot that they received the products within an agreed time period.
  4. All prices quoted by the seller shall be paid in full to the seller only after the buyer makes the payment to steellot. A special agreement may be made between the seller, buyer and steellot for terms on payments.
  5. Credit may be given by the seller to the buyer only if notified and agreed by steellot.
  6. The seller shall agree to be rated by the buyer based on the ease of transaction and commitment given. The rating may be used for determining the seriousness and/ or trust on the sellers in providing their services though steellot. Steellot has the right to change a rating if it is observed that the rating system is misused by the seller and the buyer.
  7. All complaints shall be written to steellot and steellot shall act as a third party in determining who is at fault. If all the parties do not agree or come to an understanding then legal action may be taken by, the seller on the buyer, or, the buyer on the seller, but steellot should not be involved in the action. Steellot shall only be responsible in providing the facts and / or documents for the purpose of legal action. Steellot may not share information if the management determines that the trade secrets may be compromised.
  8. All sellers of steellot shall be in compliance with their individual countries companies acts, companies laws and their trade laws.
  9. All sellers shall take the responsibility of including the shipping fees in the quote itself and the buyer will handle the fees involved with the customs and the buyer is responsible for handling custom documents and custom clearances.
  10. The seller shall never provide product with known discrepancies to the buyer.
  11. In case where a material is not conforming to the specifications that they were sold to then the testing shall be done in a third party lab that is recommended by steellot. The third party lab shall be accredited to the international standards and or ISO 17025. All test results provided by the third party lab shall prevail to determine if there is a discrepancy or not.
  12. In a case where the material has been proved to have a discrepancy and validated by steellot; the discrepancy may be resolved by further negotiations with the buyer whether to rework or issuing of credit note, or reimbursement subjected to be agreed both by the seller and the buyer.
  13. Steellot buyers or sellers may not make the owners of steellot or the employees of steellot held liable if they incur any damages or losses in the transactions through steellot.
  14. Steellot buyers & sellers to provide accurate and correct information on their profile page and any attempt to provide misleading or inaccurate information in regard to personal identity or company information will result in immediate removal.
  15. Steellot respects the privacy of the information provided by the seller. Steellot will not sell information of the sellers to any other third parties. Steellot and the management of the steellot and the companies owned by the management of the steellot may occasionally send e-mails or gifts or special offers or news letters when desired.
  16. It is the responsibility of the seller to provide correct payment and contact information to Steellot.
  17. Seller shall take the responsibility to ship the products in time as described or agreed during quotation. The seller shall update Steellot after the shipment is made with packing slip and shipping confirmation on all orders. The seller should notify Steellot if he is not able to commit to the order within the time frame and give advanced notice so steellot may take an extension from the buyer.
  18. The seller agrees to exempt employees of steellot and the management of steellot and the subsequent group of companies owned by the management of steellot on filing any law suits or filing a case in the court of law.
  19. Steellot has always the right to hire contract or temp companies or outsourcing for providing the services in steellot.
  20. Steellot is in no obligation to provide the services or update the prices on the steellot portal if deemed that it is not profitable to operate and may shut down the operation without notice.
  21. In a timely fashion steellot website may be updated and during the event the site might be down and shall not be available for using the services.
  22. All transactions shall be made in US dollars as the standard currency irrespective of the countries the buyer or seller originated from. Any loss occurred or additional fees occurred for converting the currencies in their respective countries should be born by the buyer or seller for converting from US dollar to their respective desired currency. All quotes by the seller shall be given in US dollars and payment made by the buyer to steellot shall be in US dollars. The payment may be made in other currencies only if agreed between seller and steellot. The conversion shall be made from the US dollar on the quote to the equivalent currency exchange rate on the day of conversion selected by the banks.
  23. Steellot seller agrees to do business with steellot buyer by only utilizing the Steellot services. The seller or buyer will not conduct business directly and outside of steellot.
  24. The standard of currency used may be changed as the trend in global trading changes.
  25. All communications made between steellot, buyer, and seller shall be in English language, with professional and ethical manner.
  26. Steellot reserves the right to file a law suit or case against the seller and /or buyer if the terms and conditions are not fully met and practiced accordingly. In such an event steellot shall refuse to provide services for the respective parties immediately.
  27. The seller agrees to give complete access to their facilities, & employees for members, auditors, and contractors hired by steellot for the purpose of auditing. The seller shall also arrange for auditing steel mills / steel plants by the auditors, employees, and or contractors of steellot. The arrangement shall be made either directly with the steel mill or through the subsequent chain of commands.
  28. Steellot seller is responsible for providing the heat number, steel mill certificate or test report, actual steel mill that melted and casted the steel (Steel plant), and complete the pricing information, product information on the products.
  29. Steellot may start updating the inventory of the seller on the steellot website during the start but may request the seller to update by himself in future.
  30. The inventory shall be updated by steellot if the products are submitted with complete information. All fields in the spread sheet shall be completed by the seller for submitting completed information to steellot. Occasionally steellot may ask the seller to submit few more details and might also request to send a picture.
  31. In the case where a buyer submits a non-conformance on the product supplied or unsatisfactory performance on the seller then the seller shall submit a corrective action in a timely manner. The seller may have to prove continuous quality improvements to steellot if non conformances are received frequently.
  32. Steellot may reserve the right to follow a system to approve sellers by auditing and or past history or through surveys. Steellot may disqualify any seller if the audit is not satisfactory or survey is not completed in a timely fashion or the rating is very poor.
  33. It is the responsibility of the seller to communicate with steellot in a timely fashion when deemed necessary.
  34. If a seller is also registered as a buyer then the buyer terms and conditions also apply.



Steellot Buyer Terms and Conditions:


All steellot buyers shall agree to the following terms and conditions. By registering in steellot you have accepted the steellot terms and conditions. The terms and conditions may not be misinterpreted, or misunderstood to change the intent of the conditions. Incase terms or conditions are felt that they are not clearly stated then the clarification may be requested by contacting the attorney or employees of steellot. In no situation the employees of steellot or the owners of steellot are considered to be liable for any discrepancies or statements or the services provided in steellot.

  1. Steellot has the right to cancel or refuse services to a company or personnel if they are a threat to steellot in any form or manner or deemed not to be qualified as a buyer in steellot.
  2. The prices provided in the steellot may change frequently without notice and the buyers in steellot shall verify the price by requesting a latest quote from steellot seller.
  3. If required steellot may provide an escrow account to receive payment on the order but may only transfer it to seller after buyer confirming to steellot that they received the products within an agreed time period.
  4. All prices quoted by the seller shall be paid in full by the buyer unless a special agreement is made between the seller, buyer and steellot.
  5. Credit may be given to the buyer if agreed by seller and steellot.
  6. The buyer always agrees to rate the seller if they buy a product from that seller. The rating may be used for determining the seriousness and/ or trust in the sellers in providing their services though steellot. Steellot has the right to change a rating if it is observed that the rating system is misused by the buyer and the seller.
  7. All complaints shall be written to steellot and steellot shall act as a third party in determining who is at fault. If all the parties do not agree or come to an understanding then legal action may be taken by, the buyer on the seller, or, the seller on the buyer, but steellot should not be involved in the action. Steellot shall only be responsible in providing the facts and / or documents for the purpose of legal action. Steellot may not share information if the management determines that the trade secrets may be compromised.
  8. All buyers of steellot shall be in compliance with their individual countries companies acts, companies laws and their trade laws.
  9. All buyers shall handle the fees involved with the customs and the buyer is responsible for handling custom documents and custom clearances.
  10. In case where a material is not conforming to the specifications that they were sold to then the testing shall be done in a third party lab that is recommended by steellot. The third party lab shall be accredited to the international standards and or ISO 17025. All test results provided by the third party lab shall prevail to determine if there is a discrepancy or not.
  11. In a case where the material has been proved to have a discrepancy and validated by steellot; the discrepancy may be resolved by further negotiations with the seller whether to rework or have a credit note issued or reimbursement subjected to be agreed both by the seller and the buyer.
  12. Steellot buyers or sellers may not make the owners of steellot or the employees of steellot held liable if they incur any damages or losses in the transactions through steellot.
  13. Steellot buyers should provide accurate and correct information on their profile page and any attempt to provide misleading or inaccurate information in regard to personal identity or company information will result in immediate removal.
  14. Steellot respects the privacy of the information provided by the buyer. Steellot will not sell information of the buyers to any other third parties. Steellot and the management of the steellot and the companies owned by the management of the steellot may occasionally send e-mails or gifts or special offers or news letters when desired.
  15. In all transactions the buyer shall provide the correct shipping address and the seller or steellot cannot be held responsible for shipping addresses that were not correct. It is the responsibility of the buyer to update his profile, shipping address, contact information, payment information in a timely fashion or when changes occurred.
  16. Since the shipping delays are dependent on nature, and the transportation company chosen by the buyer. Buyer cannot make the seller or steellot be responsible for the shipping delays.
  17. The buyer agrees to exempt employees of steellot and the management of steellot and the subsequent group of companies owned by the management of steellot on filing any law suits or filing a case in the court of law.
  18. Steellot has always the right to hire contract or temp companies or outsourcing for providing the services in steellot.
  19. Steellot is in no obligation to provide the services or update the prices on the steellot portal if deemed that it is not profitable to operate.
  20. In a timely fashion steellot website may be updated and during the event the site might be down and shall not be available for using the services.
  21. All transactions shall be made in US dollars as the standard currency irrespective of the countries the buyer or seller originated from. Any loss occurred or additional fees occurred for converting the currencies in their respective countries should be born by the buyer or seller for converting from US dollar to their respective desired currency. All quotes by the seller shall be given in US dollars and payment made by the buyer to steellot shall be in US dollars.
  22. Steellot buyer agrees to do business with steellot seller by only utilizing the Steellot services. The seller or buyer will not conduct business directly and outside of steellot.
  23. The standard of currency used may be changed as the trend in global trading changes.
  24. All communications made between steellot, buyer, and seller shall be in English language, with professional and ethical manner.
  25. Steellot reserves the right to file a law suit or case against the buyer and /or seller if the terms and conditions are not fully met and practiced accordingly. In such an event steellot shall refuse to provide services for the respective parties immediately.
  26. The buyer agrees to pay an additional fee for utilizing any other additional services like Auditing on Steel Mills or sellers through steellot. The buyer may only request for auditing on the sellers through steellot. The buyer does not reserve the right to communicate or audit the sellers directly.
  27. If a buyer is also registered as a seller then the seller terms and conditions also apply.