Terms and Conditions
Product Purchase and Lease Brokerage Platform
|
|
Welcome to our platform. These Terms and Conditions govern your use of the platform and clarify the nature of the relationship between you and the platform. By using the platform or creating an account, you fully agree to abide by these Terms.
|
First: Nature of the Platform and Its Services |
The platform is an integrated electronic environment providing two services that are completely independent from each other:
1. Product Purchase Service:
The platform enables the customer (Owner) to purchase various products through suppliers approved by the platform. The purchase process is as follows:
• The customer browses available products on the platform.
• The customer selects the desired product and completes the order.
• Payment is made through approved electronic payment gateways, or by direct bank transfer to the approved supplier.
• The product is delivered to the Owner within the period specified in the product description (varies between new, ready-stock, and used products and according to each product's nature).
• Upon delivery, full ownership of the product transfers to the Owner.
2. Lease Brokerage Service:
The platform allows product owners to lease their products to trusted lessees, with the platform acting as a broker between the Owner and Lessee. The brokerage service includes:
• Finding a suitable lessee for the product.
• Concluding a lease agreement between the Owner and Lessee through the platform.
• Collecting monthly rent from the Lessee and transferring it to the Owner's wallet.
• Issuing official electronic invoices.
• Managing the operational aspects of the contract and its follow-up.
|
Second: Independence of Purchase and Lease Operations |
The platform expressly and conclusively confirms that the purchase and lease operations are completely independent from each other, as follows:
• The purchase is a standalone operation: The customer buys the product and becomes its complete and final owner, without any obligation to lease it or link it to any other service.
• Leasing is optional: The Owner has the full right to lease the product through the platform, use it for any personal or commercial purpose, sell it later, or lease it outside the platform.
• No return guarantee: The platform does not guarantee any financial return from leasing the product, nor does it promise a specific rent price. All figures displayed (expected rent, profit margin, resale price) are historical and indicative data only, based on market data.
• This is not an investment product: Purchasing a product is buying a physical asset owned by the Owner separately and independently, not an investment unit, security, or stake in a collective fund, and is not subject to Capital Market Authority regulations.
|
Third: Purchase Process Details |
1. Approved Suppliers:
The platform only deals with approved suppliers from trusted factories, distributors, and vendors. The platform verifies suppliers' commercial records and product quality before approving them.
2. Payment Method:
Payment is made through one of the following methods:
• Electronic payment through approved payment gateways (Mada, Visa, Mastercard, Apple Pay, STC Pay).
• Direct bank transfer to the approved supplier's or platform's bank account.
• All paid amounts go directly to the supplier or through the platform according to the approved payment mechanism.
3. Delivery Period:
The delivery period varies depending on the type and condition of the product (new requiring manufacturing, ready in stock, or used). The expected period is clearly specified on each product's page before completing the purchase. In case the announced period is significantly exceeded without justification, the customer has the right to claim a full refund.
4. Transfer of Ownership:
Full ownership of the product transfers to the Owner upon delivery, and the Owner becomes fully responsible for it legally, financially, and operationally.
|
Fourth: Lease Brokerage Service Details |
1. Choosing the Lease Service:
After owning the product, the Owner has the full choice to:
• Sign a brokerage and lease agreement with the platform to lease his product to lessees through the platform.
• Keep the product and use it for any other purpose without any obligation to the platform.
• Sell the product or dispose of it in any lawful manner.
2. Brokerage Mechanism:
If the Owner chooses to lease through the platform, a separate brokerage agreement is signed specifying:
• The target monthly rent value and flexibility limits.
• The platform's commission on brokerage services.
• The collection and transfer mechanism to the Owner's wallet.
• The obligations of both parties during the lease period.
3. Full Transparency via Control Panel:
The Owner receives an electronic control panel to monitor:
• His product's status (available, leased, in storage).
• Collected rents and transfers.
• Monthly periodic reports.
• Essential lessee data.
• All important notifications and alerts.
|
Fifth: Owner's Obligations |
• Providing accurate and correct data when registering on the platform and when contracting.
• Committing to paying the full product value according to the approved mechanism upon purchase.
• If choosing the lease service, committing to the brokerage agreement terms.
• Not communicating directly with lessees outside the platform's official channels.
• Updating personal and banking information immediately upon any change.
• Complying with relevant Saudi regulations.
|
Sixth: Platform's Obligations |
• Providing a secure and reliable electronic environment to complete purchase and lease operations.
• Verifying the credibility of suppliers and lessees before approving them.
• Issuing official electronic invoices according to ZATCA requirements.
• Complying with Saudi payment regulations and protecting customer data.
• Transferring collected rents to the Owner's wallet within 24 hours of collection.
• Maintaining the confidentiality of all personal and financial data.
• Providing technical support and responding to complaints through official channels.
|
Seventh: Responsibilities and Liability Disclaimer |
1. No Return Guarantee:
The platform conclusively confirms that it does not guarantee any financial return from leasing products. All figures and statistics displayed are historical and indicative data, and do not constitute a promise of specific future performance.
2. Platform's Liability:
The platform's liability is limited to:
• Providing a reliable environment to complete transactions.
• Executing brokerage services with professional care.
• Complying with its explicitly stated contractual obligations.
3. What the Platform is NOT Responsible For:
• The product's technical condition or hidden defects (responsibility lies with the manufacturer or supplier).
• The lessee's default in payment or misuse of the product.
• Natural disasters or force majeure.
• The Owner's personal decisions regarding the product after ownership.
• Any indirect losses or missed opportunities.
|
Eighth: Privacy and Data Protection |
The platform complies with the Saudi Personal Data Protection Law, and commits to:
• Collecting only necessary data to provide the service.
• Not sharing data with any third party except with user consent or as required by law.
• Using modern encryption technologies to protect financial and personal data.
• Allowing the user's right to access, modify, or delete their data.
For more details, please review the Privacy Policy published on the platform.
|
Ninth: Consumer Protection |
The platform commits to all provisions of the Saudi Consumer Protection Law and its executive regulations. The user has the right to:
• Submit a complaint through the platform's official channels and receive a response within 15 business days.
• Submit a grievance to the Ministry of Commerce in case of dissatisfaction.
• Resort to competent arbitration .
|
Tenth: Modification of Terms and Conditions |
The platform has the right to modify these Terms and Conditions at any time, based on:
• Regulatory or legislative updates in the Kingdom of Saudi Arabia.
• Development of platform services or addition of new services.
• Periodic review of policies and procedures.
Users will be notified of any material modifications via registered email or the control panel at least 30 days before they take effect. Continued use of the platform after modification is considered acceptance of the modified terms.
|
Eleventh: Applicable Law and Dispute Resolution |
• These Terms and Conditions are subject to the laws of the Kingdom of Saudi Arabia.
• In case of any dispute, the parties shall endeavor to settle it amicably within 30 days.
• If amicable settlement fails, disputes shall be resolved through arbitration in the city of Riyadh according to applicable regulations.
• Arbitration language: Arabic.
|
Twelfth: Communication and Notifications |
All official notifications and correspondence are made through:
• The email registered in the user's account.
• Short text messages (SMS) on the registered number.
• Notifications within the control panel.
• The platform's official support channels.
The user commits to updating contact information immediately upon any change to ensure notifications are received.
|
Thirteenth: Acceptance of Terms |
By using the platform, creating an account, or completing any purchase or lease, you acknowledge:
• Reading and fully understanding these Terms and Conditions.
• Accepting them by your free will without any coercion.
• Having full statutory capacity to contract.
• Committing to all their provisions and any subsequent amendments.
|
|
For inquiries or support, please contact us through the platform's official channels indicated on the 'Contact Us' page. Or contact by :
920033886