Post-deal process

Congratulations on successfully closing a deal on the Vesper Marketplace! This guide outlines the essential follow-up steps you should take to ensure a smooth transaction and complete the trade efficiently.

Steps to Follow After Closing a Deal

1. Confirm Deal Details

Review the finalized terms to ensure everything is accurate:

• Product Specifications: Check quality, age, and packaging details.

• Price and Payment Terms: Confirm the agreed price and payment conditions.

• Delivery Conditions: Validate delivery terms (Incoterms, location, and timelines).

Document the Agreement:
Save a copy of the final agreement and any related correspondence for future reference.

2. Communicate with the Counterparty

• Send Confirmation: Share a confirmation message with the counterparty to acknowledge the deal and reiterate the agreed-upon terms.

• Establish Contact: Keep communication open to address any questions or adjustments that may arise.

3. Adjust Deal Parameters (if needed)

Before proceeding with payment or delivery, ensure both parties agree on any adjustments:

• Pricing Adjustments: Renegotiate and agree on a new price if the terms change.

• Delivery Time Adjustments: Confirm any changes to the delivery schedule.

• Additional Modifications: Modify other parameters such as:

  • Incoterms

  • Packaging Requirements

  • Necessary Certificates

4. Arrange for Payment

• Initiate Payment: Follow the agreed-upon payment terms. Make the payment promptly to ensure trust and reliability.

• Confirm Payment Receipt: Once payment is made, confirm with the counterparty that they have received it.

5. Organize Product Delivery

• Coordinate Delivery Details: Discuss logistics, including packaging requirements, delivery date, shipping method, and associated costs.

• Confirm Delivery Arrangements: Ensure both parties are aligned on the delivery specifics and provide any necessary documentation or instructions.

6. Follow Up After Delivery

• Confirm Delivery: Check with the counterparty to verify that the product was received in good condition and met the agreed specifications.

• Address Any Issues: If there are discrepancies, resolve them promptly to ensure a smooth transaction completion.

Cancellation policy

All confirmed deals on Vesper Marketplace are binding. However, during the beta phase, we understand that occasional issues may arise as the platform continues to be improved. If buyers or sellers encounter technical difficulties affecting the ability to fulfill or receive an order, they should immediately contact  Vesper’s Support Team for assistance.

Finalizing deal details

Both buyers and sellers are responsible for promptly finalizing transaction details based on the pre-agreed terms (contract) with counter party, including payment, invoicing, delivery schedules, and logistics. If either party is unable to finalize these aspects, they must notify Vesper’s Support Team within two (2) working days of deal confirmation.

Cancellation Eligibility

Cancellations are allowed under specific conditions to address technical or operational challenges. The following are valid grounds for requesting a cancellation:

• Erroneous or Misleading Listings: Significant inaccuracies in the product listing, including incorrect product specifications, origin, or packaging details.

• User Errors: Cancellations due to mistakes made by the user, such as incorrect product specifications or details entered by the seller.

• Platform-Related Technical Issues: Cancellations caused by technical errors, system malfunctions, or misleading information due to platform faults.

• Logistical Issues: Unforeseen events beyond the control of either party (e.g., substantial shipping delays, factory closures) that prevent the completion of the transaction.

Requesting a Cancellation

To request a cancellation, the affected party must contact Vesper’s Support Team within two (2) working days of deal confirmation, providing detailed reasons for the request. Vesper Marketplace will review the request and may approve the cancellation based on the circumstances.

Limitations on Cancellations

Parties submitting more than two (2) cancellation requests within a 90-day period without valid justification may face suspension or restricted access to Vesper Marketplace at Vesper’s discretion.

Tips for Successful Post-Deal Management

1. Stay Organized
   Keep records of all deals, communications, and transactions to streamline future processes.

2. Be Proactive
   Address any issues that arise during payment or delivery promptly to prevent misunderstandings.

3. Ensure Compliance
   Make sure that all delivery, payment, and documentation requirements are met as agreed to avoid complications.