Please read these Terms of Service / Terms and Conditions carefully as they contain important information about your legal rights, remedies and obligations.

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By accessing or using the Saltz Platform, you agree to comply with and be bound by these Terms of Service / Terms and Conditions. Once you have registered on our platform (opened a Saltz account) you have explicitly agreed to these Terms of Service. Once you have sent an order or sent an order confirmation via our platform you have also explicitly agreed to these Terms of Service.

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These Terms of Service / Terms and Conditions has been updated on 17th July, 2021.

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These Terms of Service / Terms and Conditions (“Terms”) constitute a legally binding agreement (“Agreement”) between you and Saltz India Pharma Laboratories (OPC) Private Limited (as defined below) governing your access to and use of the Saltz website (saltz.in), including any sub-domains thereof, and any other websites through which Saltz makes the Saltz India Pharma Laboratories (OPC) Private Limited Services available (collectively, “Site”), our mobile, tablet and other smart device applications, and application program interfaces (collectively, “Application”) and all associated services (collectively, “Saltz Services”). The Site, Applications and Saltz Services together are hereinafter collectively referred to as the “Saltz Platform”.

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Where ever you reside in the world you are contracting with Saltz India Pharma Laboratories (OPC) Private Limited (hereinafter referred to as “Saltz”).

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Our collection and use of personal information in connection with your access to and use of the Saltz Platform is described in our Privacy Policy.

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Saltz provides secure payments services to you, including payment collection services, payments and pay-outs, in connection with and through the Saltz Platform

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(“Saltz Secure Payment Service or PSP Service”).

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In order to make sure that every payment and pay-out is secure and dedicated only to pay for related orders given, the PSP Services is provided to you through separate bank accounts in various currencies.

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Saltz India Pharma Laboratories (OPC) Private Limited is a company registered in India under the Indian Companies Act 2013, whose registered office is located at Plot No.396, Ground Floor, Sri Srinivasapuram Colony, Vanasthalipuram, Hyderabad, Telangana – 500070, India (“Saltz.in”).

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Clause 1. Saltz (Saltz India Pharma Laboratories (OPC) Private Limited)Services

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Clause 1.1

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The Saltz Platform is an online B2B marketplace that brings together the global availability of pharmaceutical raw materials in an extensive database.

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Producers and Traders, either represented by legal entities or single person companies, of raw materials (“Supplier(s)”) can amongst others, after opening a Saltz account (“Saltz Account”), upload their product portfolio and quality documents.

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Anyone who is interested to buy these products, either represented by legal entities or single person companies, (“Buyer(s)”) can search the extensive database and, after opening a Saltz Account, send inquiries to Suppliers in order to obtain quotations. Apart from this Buyers can download producer and product related documents and information after approval of the Supplier. Without approval of the Supplier it is always possible to download the Certificates of Analyses any time.

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Clause 1.2

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Buyers can upgrade any received inquiry to an order. After explicit confirmation of that order by the Supplier and by the Buyer, the order becomes final only while both Buyer and Supplier is accepted. By doing so, both Buyer and Supplier agree that they have entered into a contract directly with each other. Saltz (Saltz India Pharma Laboratories (OPC) Private Limited) is not and does not become a party to this contract. Nor is Saltz a participant in any contractual relationship between Buyers and Suppliers, nor is Saltz acting as an Agent in any capacity for any Buyer and/or Supplier.

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Saltz(Saltz India Pharma Laboratories (OPC) Private Limited) is only involved in operating the Saltz Platform and the financial clearance that is provided by the PSP Service of the transaction between Buyer and Supplier.

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Clause 1.3

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Buyers and Suppliers and any other visitors of the website Saltz.in hereinafter together also refer to as “User(s)”.

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Clause 1.4

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Saltz emphasis on the difference in quality of raw materials and offers this information in a clear and easy-to-use portal where Buyers and Suppliers are able to communicate with each other. Saltz.in is for information purposes only and wants to simplify and accelerate the process of purchasing pharmaceutical raw materials by offering this digital platform to the Users, supported by a comprehensive database. As a provider of the Saltz Platform, Saltz (Saltz India Pharma Laboratories (OPC) Private Limited) does not own, create, sell, resell, provide, control, manage, offer, deliver, or supply any product or quality documents from the Suppliers product portfolio. Only Suppliers are fully responsible for their listed product portfolio and quality documents. Saltz (Saltz India Pharma Laboratories (OPC) Private Limited)has no control over and does not guarantee the existence, quality, safety, suitability, or legality of any product of the product portfolio and or document of the quality documents of Suppliers and or information listed by Suppliers and or Buyers. Saltz does not endorse any Buyer or Supplier. Any references to, a Buyer and or a Supplier only indicates that the Buyer and or Supplier has completed a relevant verification and identification process and nothing else. Any such description is not an endorsement, certification or guarantee by Saltz about any Buyer and or Supplier including the Buyer and or Supplier identity or background or whether the Buyer and or Supplier is trustworthy, safe or suitable. Buyer or Supplier should always exercise due diligence and care when deciding whether to enter into any contract with a Buyer or Supplier and or sent inquiries and or communicate online with a Buyer or Supplier.

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Clause 1.5

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When you choose to use the Saltz Platform your relationship with Saltz is limited to being an independent, third-party facilitator, and not an employee, agent, joint venture or partner of Saltz for any reason, and you act exclusively on your own behalf and for your own benefit, and not on behalf, or for the benefit of Saltz.

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Clause 1.6

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The Saltz Platform may contain links to third-party websites or resources (“Third-Party Services”). Such Third-Party Services may be subject to different terms and conditions and privacy practices. Saltz is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by Saltz of such Third-Party Services.

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Clause 1.7

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Due to the nature of the Internet, Saltz cannot guarantee the continuous and uninterrupted availability and accessibility of the Saltz Platform. Saltz may restrict the availability of the Saltz Platform or certain areas or features thereof, if this is necessary in view of capacity limits, the security or integrity of our servers, or to carry out maintenance measures that ensure the proper or improved functioning of the Saltz Platform. Saltz may improve, enhance and modify the Saltz Platform and introduce new Saltz Services from time to time.

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Clause 1.8

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We do NOT provide any medical advice

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The contents of our website, such as text, graphics, images, information that you obtain from our website is for informational purposes only and is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Never disregard professional medical advice or delay seeking such advice in time of need because of something you have read on / from our website.

Saltz does not recommend or endorse any specific tests, physicians, products, procedures, opinions, or other information that may be mentioned on our website.

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Reliance on any information provided by either Saltz or its employees/agents or its suppliers/distributors and other visitors to the website is solely at your own risk.

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Clause 1.9: Privacy and Copyright Protection

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Saltz privacy policy explains how we treat your personal data and protect your privacy when you use our Services. By using our Services, you agree that Saltz can use such data in accordance with our privacy policies.

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We make our best efforts to prevent any kind of infringement of copyright, trademark and other intellectual property right materials. However, in case of any inadvertent error, misrepresentation etc we urge you to inform us using the “feedback” link located on our website. We will respond to you immediately and rectify the error, mispresentation etc, if any, after investigation, at the earliest.

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Kindly note, we respond to notices of alleged copyright infringement and terminate accounts of repeat infringers according to the provisions set out in the Indian Copyright Act, 1957.

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Clause 1.9.1: Liability for our Services

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When permitted by law, Saltz, and Saltz suppliers and buyers / distributors, will not be responsible for lost profits, revenues, or data, financial losses or indirect, special, consequential, exemplary, or punitive damages.

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To the extent permitted by law, the total liability of Saltz, and its suppliers and buyers / distributors, for any claims under these terms, including for any implied warranties, is limited to the amount you paid us to use the Services (or, if we choose, to supplying you the Services again).

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In all cases, Saltz, and its suppliers and buyers / distributors, will not be liable for any loss or damage that is not reasonably foreseeable.

We recognize that in some countries, you might have legal rights as a consumer. If you are using the Services for a personal purpose, then nothing in these terms or any additional terms limits any consumer legal rights which may not be waived by contract.

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Clause 1.9.2: Business uses of our Services

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If you are using our Services on behalf of a business, that business accepts these terms. It will hold harmless and indemnify Saltz and its affiliates, officers, agents, and employees from any claim, suit or action arising from or related to the use of the Services or violation of these terms, including any liability or expense arising from claims, losses, damages, suits, judgments, litigation costs and attorneys’ fees.

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Clause 2. Usage of the Saltz Platform

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Clause 2.1

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The website Saltz.in is a commercial website and as such, is not intended for children or minors. You must be at least 18 years old and above and able to enter into legally binding contracts to access and use the Saltz Platform or register a Saltz Account.

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By opening a Saltz Account and accessing or using the Saltz Platform you represent and warrant that you are 18 years or older and have the legal capacity and authority to enter into a contract an behalf of the Buyer or Supplier.

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Except from this you declare that you are an employee of the company that you register.

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Clause 2.2

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You also declare that you and the company you represent complies with any applicable export and import control laws in your local jurisdiction of your country. You also represent and warrant that (i) neither you nor your Buyer and or Supplier services are located or take place in a country that is subject to a US Government embargo, or that has been designated by the India or US Government as a “terrorist supporting” country, and (ii) you are not listed on any Indian or US Government list of prohibited or restricted parties.

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Clause 2.3

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Saltz may make the access to and use of the Saltz Platform, or certain areas or features of the Saltz Platform, subject to certain conditions or requirements, such as completing a verification process, meeting specific quality or eligibility criteria, meeting Ratings or Reviews thresholds, or ordering and cancellation history.

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Clause 2.4

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User verification on the Internet is difficult and we do not assume any responsibility for the confirmation of any Buyer and or Supplier identity. Notwithstanding the above, for transparency and fraud prevention purposes, and as permitted by applicable laws, we may, but have no obligation to (i) ask Buyer or Suppliers to provide a form of government identification or other information or undertake additional checks designed to help verify the identities or backgrounds of Buyers or Suppliers, (ii) screen Buyers or Suppliers against third party databases or other sources and request reports from service providers, and (iii) where we have sufficient information to identify a Buyer or Supplier, obtain reports from public records of criminal convictions or sex offender registrations or an equivalent version of background or registered sex offender checks in your local jurisdiction (if available).

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Clause 2.5

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The access to or use of certain areas and features of the Saltz Platform may be subject to separate policies, standards or guidelines, or may require that you accept additional terms and conditions. If there is a conflict between these Terms of Service and additional terms and conditions applicable to a specific area or feature of the Saltz Platform, the latter additional terms and conditions will take precedence with respect to your access to or use of that area or feature, unless specified otherwise.

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Clause 3 Modifications of these Terms

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Clause 3.1

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Saltz reserves the right to modify these Terms at any time in accordance with this provision. If we make changes to these Terms, we will post the revised Terms on the Saltz Platform and update the “Last Updated” date at the top of these Terms. We will also provide you with notice of the modifications by email at least thirty (30) days before the date they become effective. If you disagree with the revised Terms, you may terminate this Agreement with immediate effect. We will inform you about your right to terminate the Agreement in the notification email. If you do not terminate your Agreement before the date the revised Terms become effective, your continued access to or use of the Saltz Platform will constitute acceptance of the revised Terms.

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Clause 4 Account Registration

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Clause 4.1

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You must register or claim an account (“Saltz Account”) to access and use certain features of the Saltz Platform, such as uploading your product portfolio and quality documents when you are a Supplier or sending inquiries and or orders to Suppliers when you are a Buyer, or both. If you are registering a Saltz Account for a Buyer or Supplier or for both, you represent and warrant that you have the authority to legally bind that entity and grant us all permissions and licenses provided in these Terms.

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Clause 4.2

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You can register a Saltz Account using an email address and creating a password.

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You must provide accurate, current and complete information during the registration process and keep your Saltz Account profile page information up-to-date at all times.

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Clause 4.3

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You may not register more than one (1) Saltz Account unless Saltz authorizes you to do so. You may not assign or otherwise transfer your Saltz Account to another party.

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Clause 4.4

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You are responsible for maintaining the confidentiality and security of your Saltz Account credentials and may not disclose your credentials to any third party. You must immediately notify Saltz if you know or have any reason to suspect that your credentials have been lost, stolen,

Mis-appropriated, or otherwise compromised or in case of any actual or suspected unauthorized use of your Saltz Account. You are liable for any and all activities conducted through your Saltz Account, unless such activities are not authorized by you and you are not otherwise negligent (such as failing to report the unauthorized use or loss of your credentials).

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Clause 4.5

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Saltz may enable features that allow you, as principle Saltz Account holder, to authorize other persons that work for your company to log into your Saltz Account and take certain actions that affect your Saltz Account.

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For example, we may allow these other persons to manage your Saltz Account and or manage product portfolio and or quality documents issues. These other persons helps you to manage your Saltz Account.

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These features do not require that you share your credentials with any other person working in your company.

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No third party is authorized by Saltz to ask for your credentials, and you shall not request the credentials of another Buyer or Supplier.

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Clause 4.6

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Saltz may enable features that allow you, as principle Saltz Account holder, to authorize other Users that work together with your company acting as a distributor to grant rights such as to answer to inquiries and or orders received by you.

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These features do not require that you share your credentials with any other company acting as a distributor for your company.

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No third party is authorized by Saltz to ask for your credentials, and you shall not request the credentials of another User.

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Clause 5 Content

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Clause 5.1

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Saltz may, at its sole discretion, enable Buyers and Suppliers to (i) create, upload, post, send, receive and store content, such as text, photos, audio, video, or other materials and information on or through the Saltz Platform (“Account Content”); and (ii) access and view Account Content and any content that Saltz itself makes available on or through the Saltz Platform, including proprietary Saltz content and any content licensed or authorized for use by or through Saltz from a third party (“Saltz Content” and together with Account Content, “Collective Content”).

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Clause 5.2

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The Saltz Platform, Saltz Content, and Account Content may in its entirety or in part be protected by copyright, trademark, and/or other laws of the India and other countries. You acknowledge and agree that the Saltz Platform and Saltz Content, including all associated intellectual property rights, are the exclusive property of Saltz and/or its licensors or authorizing third-parties. You will not remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Saltz Platform, Saltz Content or Account Content. All trademarks, service marks, logos, trade names, and any other source identifiers of Saltz used on or in connection with the Saltz Platform and Saltz Content are trademarks or registered trademarks of Saltz in the India and other countries. Trademarks, service marks, logos, trade names and any other proprietary designations of third parties used on or in connection with the Saltz Platform, Saltz Content, and/or Collective Content are used for identification purposes only and may be the property of their respective owners.

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Clause 5.3

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You will not use, copy, adapt, modify, prepare derivative works of, distribute, license, sell, transfer, publicly display, publicly perform, transmit, broadcast or otherwise exploit the Saltz Platform or Collective Content, except to the extent you are the legal owner of certain Account Content or as expressly permitted in these Terms. No licenses or rights are granted to you by implication or otherwise under any intellectual property rights owned or controlled by Saltz or its licensors, except for the licenses and rights expressly granted in these Terms.

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Clause 5.4

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Subject to your compliance with these Terms, Saltz grants you a limited, non-exclusive, non-sub licensable, revocable, non-transferable license to (i) download and use the Application on your personal device(s); and (ii) access and view any Collective Content made available on or through the Saltz Platform and accessible to you, solely for your personal and non-commercial use.

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Clause 5.5

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By creating, uploading, posting, sending, receiving, storing, or otherwise making available any Account Content on or through the Saltz Platform, you grant to Saltz a non-exclusive, worldwide, royalty-free, irrevocable, perpetual (or for the term of the protection), sub-licensable and transferable license to such Account Content to access, use, store, copy, modify, prepare derivative works of, distribute, publish, transmit, stream, broadcast, and otherwise exploit in any manner such Account Content to provide and/or promote the Saltz Platform, in any media or platform. Unless you provide specific consent, Saltz does not claim any ownership rights in any Account Content and nothing in these Terms will be deemed to restrict any rights that you may have to use or exploit your Account Content.

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Clause 5.6

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You are solely responsible for all Account Content that you make available on or through the Saltz Platform. Accordingly, you represent and warrant that: (i) you either are the sole and exclusive owner of all Account Content that you make available on or through the Saltz Platform or you have all rights, licenses, consents and releases that are necessary to grant to Saltz the rights in and to such Account Content, as contemplated under these Terms; and (ii) neither the Account Content nor your posting, uploading, publication, submission or transmittal of the Account Content or Saltz´s use of the Account Content (or any portion thereof) will infringe, misappropriate or violate a third party’s patent, copyright, trademark, trade secret, moral rights or other proprietary or intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.

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Clause 5.7

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You will not post, upload, publish, submit or transmit any Account Content that: (i) is fraudulent, false, misleading (directly or by omission or failure to update information) or deceptive; (ii) is defamatory, libellous, obscene, pornographic, vulgar or offensive; (iii) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (iv) is violent or threatening or promotes violence or actions that are threatening to any other company or person; (v) promotes illegal or harmful activities or substances; or (vi) violates Saltz´s content policy or any other Saltz policy. Saltz may, without prior notice, remove or disable access to any Account Content that Saltz finds to be in violation of these Terms or Saltz´s policies or standards, or otherwise may be harmful or objectionable to Saltz, its Account holders, third parties, or property.

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Clause 5.8

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Saltz respects copyright law and expects its Account holders to do the same. If you believe that any content on the Saltz Platform infringes copyrights you own, please notify us.

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Clause 6. Service Fees

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Clause 6.1

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The PSP Service is provided to you by Saltz. This service includes payment collection services, payments and pay-outs, in connection with and through the Saltz Platform. The service is rendered in order to make sure that every payment and pay-out is secure and dedicated only for its intended purpose i.e. to pay for orders of pharmaceutical raw materials.

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Clause 6.2

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Saltz may restrict the availability of the PSP Service, or certain services or features thereof, to carry out maintenance measures that ensure the proper or improved functioning of the PSP Service. Saltz may improve, enhance and modify the PSP Service and introduce new payment services from time to time.

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Clause 6.3

The PSP Service may contain links to the third-party websites or resources (“Third-Party Services”). Such Third-Party Services are subject to different terms and conditions and privacy practices and Saltz Account holders should review them independently. Saltz is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by Saltz of such Third-Party Services.

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Clause 6.4

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You may not use the PSP Service except as authorized by India Law, EU Law, United States Law, the laws of the jurisdiction in which you reside, and any other applicable laws. In particular, but without limitation, the PSP Service may not be used to send or receive funds: (i)into India (ii) into any United States embargoed countries; or (iii) to anyone on the U.S. Treasury Department’s list of Specially Designated Nationals or the U.S. Department of Commerce’s Denied Persons List or Entity List. You represent and warrant that: (i) neither you nor your Supplier company is located or take place in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country; and (ii) you are not listed on any India and U.S. Government list of prohibited or restricted parties. In addition to complying with the above, you must also comply with any relevant export control laws in your local jurisdiction of your country.

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Clause 6.5

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Your access to or use the PSP Service may be subject to, or require you to accept, additional terms and conditions. If there is a conflict between these PSP Service Terms and terms and conditions applicable for a specific payment service, the latter terms and conditions will take precedence with respect to your use of or access to that payment service, unless specified otherwise.

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Clause 6.6

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In order to use the PSP Service, you must have an Saltz Account in good standing.

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Before submitting an order to a Supplier, the Buyer will be advised by Saltz to fully complete all the necessary account information, including but not limited to the payment method, bank account number and swift  information, that Saltz requires in order to provide the PSP Service.

Before confirming an order to a Buyer, the Supplier will be advised by Saltz to fully complete all the necessary account information, including but not limited to the payment method, bank account number and swift  information, that Saltz requires in order to provide the PSP Service.

If Saltz does not obtain all the necessary information of the Buyer or the Supplier no PSP Service can be allowed and performed.

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Clause 6.7

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If you or Saltz closes your Saltz Account for any reason, you will no longer be able to use the PSP Service through Saltz Platform.

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Clause 6.8

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You may authorize a third party to use your Saltz Account in accordance with the Saltz Terms. You acknowledge and agree that anyone you authorize to use your Saltz Account may use the PSP Service on your behalf and that you will be responsible for any payments made by such person and Saltz is not responsible on such transaction whichever is not validated by you.

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Clause 6.9

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You must be at least 18 years old and be able to enter into legally binding contracts to use the PSP Service. By using the PSP Service you represent and warrant that you are 18 years or older.

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Clause 6.10

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If you are agreeing to these PSP Service Terms on behalf of a company or other legal entity, i.e. a Buyer and or a Supplier, you represent and warrant that you have the authority to bind that company or other legal entity to these PSP Service Terms and, in such event, “you” and “your” will refer and apply to that company or other legal entity.

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Clause 6.11

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Saltz may make access to and use of certain areas or features of the PSP Service subject to certain conditions or requirements, such as completing a verification process or meeting specific eligibility criteria.

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Clause 6.12

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We may make inquiries we consider necessary to help verify or check your identity or prevent fraud. In some jurisdictions, we have a legal obligation to collect identity information to comply with anti-money laundering regulations. This may include

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(i) asking you to provide a form of government identification (e.g., PAN, Aadhaar, driving license or passport), your date of birth, your address, and other information;

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(ii) asking you to provide a copy of a recent bank statement on which your companies name and account number can be identified;

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(iii) requiring you to take steps to confirm ownership of your email address, Payment Methods or Pay-out Methods; or

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(iv) attempting to screen your information against third-party databases. Saltz reserves the right to close, suspend, or limit access to the PSP Service in the event we are unable to obtain or verify any of this information.

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Clause 6.13

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When you confirm an order you will be asked to provide customary billing information such as name,billing address, and bank account information either to Saltz or its third-party payment processor(s). You must provide accurate, current, and complete information.

The information required will include for wire payments:

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The company’s name and address on the Bank account statement

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IBAN number and Swift (BIC code) and or corresponding Bank information.

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Clause 6.14

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When you add bank wire payment information, Saltz may verify this information by asking you to authorize and transfer a nominal amount, not to exceed one rupee or one euro or one dollar. For further verification, we may require you to upload a bank account statement.

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Clause 6.15

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To verify your Pay-out Method, Saltz may send one or more payments of nominal amounts to your bank account. We may, and retain the right to, initiate refunds of these amounts from your Pay-out Method. When you add your bank account information we will automatically save that bank information to your Saltz Account so it can be used for a future transaction.

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Clause 6.16

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Please note that Payment Methods and Pay-out Methods may involve the use of third-party payment service providers. These service providers may charge you additional fees when processing payments and Pay-outs in connection with the PSP Service (including deducting charges from the Pay-out amount), and Saltz is not responsible for any of such fees and disclaims all liability in this regard. Your Payment Method or Pay-out Method may also be subject to additional terms and conditions imposed by the applicable third-party payment service provider; please review these terms and conditions before using your Payment Method or Pay-out Method.

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Clause 6.17

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By accepting the Terms of Service on Saltz, You authorize Saltz to store your Payment Method information and charge your Payment Method as outlined in these Payments Terms. If your Payment Method’s account information changes (e.g., account number, routing number, expiration date) as a result of re-issuance or otherwise, we may acquire that information from our financial services partner or your bank and update your Payment Method on file in your Saltz Account.

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Clause 6.18

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By accepting the Terms of Service on Saltz, You are solely responsible for the accuracy and completeness of your Payment Method and Pay-out Method information. Saltz is not responsible for any loss suffered by you as a result of incorrect Payment Method or Pay-out Method information provided by you.

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Clause 7 Terms and Financial Terms for Buyers

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Clause 7.1

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When creating a Saltz Account on the Saltz Platform you must

(i) provide complete and accurate information about your company that is asked in the registration and validation processes

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(ii) provide any other pertinent information requested by Saltz.

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You are responsible for keeping your Saltz Account up-to-date at all times.

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Clause 7.2.

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Pictures, animations or videos (collectively, “Images”) used in your Saltz Account must accurately reflect the quality and condition of your company. Saltz reserves the right to its requirement that your company information has a minimum number of Images of a certain format, size and resolution.

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Clause 7.3

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When you as a Buyer upgrade any inquiry to an order, your order will be presented to you prior to finally submitting the order to the Supplier. After confirmation of your order by the supplier you will receive an order confirmation and a proforma invoice (including payment instructions). You may deny or confirm the order. When you deny the order the order is cancelled. When you confirm the order a legally binding agreement is formed between you and the Supplier provided that the Saltz validation process results in a positive qualification of both Buyer and Supplier.

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After a positive validation of both Buyer (see resp. Clause 7.4.1, Clause 7.4.2, Clause 7.4.3 and Clause 7.4.4) and Supplier (Clause 8.6.1, Clause 8.6.2, Clause 8.6.3 and Clause 8.6.4) is communicated to you, you will receive the pro forma invoice and payment instructions. You will be advised to execute these payment instructions and pay the total order amount to the appropriate bank account number in RUPEE or EURO or USD either: the Saltz Secure Payment Indian account, bank account number xxxxxxxxx SWIFT/BIC code xxxxxxor the Saltz Secure Payment USD account, bank account number xxxxxxxxx SWIFT/BIC code xxxxxxxxx. Once the payment transfer of the total amount is received on the Saltz Secure Payment account, you and the Supplier will receive a confirmation message and email.

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Clause 7.4

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When you confirm the order you will be advised to provide Saltz with all information necessary to validate you and your company. This information includes amongst others financial related information and quality related information.

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Clause 7.4.1 Financial related information

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Only the first time an order is confirmed or when changes in the information details become apparent, Buyers need to upload:

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Billing information such as the company name, billing address.

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If the delivery is in the same country as the Supplier or within the India GST number or EU the VAT number must be known to Saltz and you need to provide the GST / VAT Certificate proof to Saltz.

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For Buyers in China the USCI number of the company as issued by Chinese authorities.

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If a European IBAN account is available: IBAN bank account number and BIC/SWIFT code.

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If a European IBAN account is not available: an overview of the bank account details.

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Bank account currency needs to be the same as the currency of the order.

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A copy of a recent bank account statement (not older than 1 month) showing at least the company name and bank account number.

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Copy of the excerpt of the Chamber of Commerce of the Buyer company (not older than 1 year).

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Copy of the passport of the UBO(’s) (ultimate beneficial owner(s)).

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Mobile phone number of the subscriber of the company.

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Saltz has the right to ask for additional information if that is deemed necessary.

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You must provide accurate, current, and complete information.

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Clause 7.4.2 Quality related information

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Only the first time an order is approved or when changes in the information details become apparent, Buyers need to upload:

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All necessary documentation proofs that they are allowed to produce, trade or buy the specific pharmaceutical raw material of the order.

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A copy of the passport and telephone number of the Pharmacist.

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You must provide accurate, current, and complete information.

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Clause 7.4.3

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Saltz will validate all the information that has been received under Clause 7.4.1 and Clause 7.4.2 and may ask for additional documents and or may contact the Fraud Authorities in the countries where Buyer is located and check if the specific Buyer is registered as a legal entity to produce, trade or buy the specific raw material.

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Clause 7.4.4

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Saltz will inform to the Supplier about the outcome of the validation.

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A positive validation does not necessarily mean that Saltz has received all the information under Clause 7.4.1 and Clause 7.4.2.

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There can be no communication regarding this internal validation process of Saltz.

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Buyer, Supplier and or other company or institution cannot derive any rights, or hold Saltz responsible or liable, of a positive validation by Saltz.

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If the validation is positive then the order will be processed via our platform.

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If the validation is negative the order is not approved by the platform and is canceled.

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The Buyer or Supplier of whom the validation is negative will be removed from our platform.

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Clause 7.5

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When the Buyer confirms the order and shipment of the order is fully or partially at risk for the Buyer, Saltz recommends that the Buyer obtains appropriate insurance when the shipment is transported. Please review any respective insurance policy carefully, and in particular make sure that you are familiar with and understand any exclusions to, and any deductibles that may apply for, such insurance policy, including, but not limited to, whether or not your insurance policy will cover the shipment of the specific order in question.

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Clause 7.5

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After Saltz has confirmed that the total order amount is received on the Saltz Secure Payment account, Supplier will deliver the ordered raw materials at the agreed date of delivery.

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Clause 7.5.1

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The date on which Pay-outs to the Supplier are executed differ for each delivery condition.

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In the event of EX works delivery condition Saltz will Pay-out the total order amount as explained in this Clause.

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It may be that on the date of the Pay-out, the shipment has not arrived at the company of the Buyer. However the shipment is after Ex-works delivery under custody of the transporter that is paid by the Buyer. The shipment is now at Buyers risk.

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Before Pay-out to the Supplier is effected, Saltz will verify with the Buyer if the shipment is indeed under custody of the transporter.

If the Buyer does, within 3 working days after Saltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, Saltz will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the confirmation has been received from the Buyer.

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If the Buyer does not, within 3 working days after Saltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, Saltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the 3 working days period has ended and no dispute has been raised.

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If the Buyer opens a dispute within 3 working days after Saltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 7.5.2

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In the event of CIF (Costs, Insurance and Freight) delivery condition Saltz will Pay-out the total order amount as explained in this Clause.

The date at which the order has been delivered in the warehouse or the port of destination needs to be confirmed by the Supplier to Saltz. It may be that on the date of the Pay-out, the shipment has not arrived at the Buyer company. However, the shipment will be under the custody of the transporter and payment has been done by the Buyer. In this case, the shipment will be at the  Buyers risk.

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Prior to the Pay-out to the Supplier, Saltz will verify with the Buyer if the shipment is indeed under custody of the transporter.

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If the Buyer does, within 3 working days after Saltz has requested the confirmation, confirms that the shipment is under custody of the transporter/Buyer, Saltz will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the confirmation has been received from the Buyer.

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If the Buyer does not, within 3 working days after Saltz has requested the confirmation, confirm that the shipment is under custody of the transporter/Buyer, Saltz will presume that the shipment is under custody of the transporter/Buyer and will Pay-out the total order amount, minus service fees to the Supplier bank account within 2 working days after the 3 working days period has ended and no dispute has been raised.

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If the Buyer raises a dispute within 3 working days after Saltz has requested the confirmation, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will apply.

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Clause 7.5.3

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In the event that a Buyer is confronted with a problem or want to raise a dispute, the procedure in Clause 16 Problems and disputes between Buyers and Suppliers will be applicable.

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Clause 8 Financial Terms for Suppliers