Trading rules

These trading rules ensure a transparent, fair, and efficient trading environment for all participants on the Vesper Marketplace. All users must adhere to the guidelines to maintain the integrity of the platform.

1. Eligibility & Participation

• Registered Users Only
  Only registered and verified users of Vesper Marketplace are eligible to trade. All users must comply with the platform’s Terms & Conditions.

• Approved Partners & Origins
  Trading is restricted to interactions between pre-approved Buyers, Sellers, and factories to ensure compliance and quality standards.

• Inactive Account Policy
  Users inactive for three consecutive months may have their access suspended until activity resumes.

2. Listing Requirements

• Accurate Descriptions
  Sellers must accurately describe their products, including all specifications, quantity, and other relevant details. Misleading or fraudulent listings are strictly prohibited.

• Supplier List Submission
  Buyers must provide a list of approved suppliers and origins before participating in trading. Sellers must submit their surcharge costs for transparency.

• Compliance with Product Specifications
  Listings must adhere to specified product standards, including packaging, certificates, and quality criteria (e.g., heat classes for SMP or butter types).

• All prices for bids and offers include any applicable surcharges and align precisely with the specified product details, delivery requirements, and selected packaging and additional listing options

• All bids, offers, and counter proposals are firm and binding.

3. Marketplace Rules & Conduct

• Price Bandwidth Compliance
  Sellers and Buyers must set prices within the bandwidth provided by Vesper. Any deviations must be agreed upon by both parties.

• Participant Control
  Users can exclude specific trading partners they do not wish to engage with, offering greater control over trading interactions.

• Anonymous Trading
  Trading is anonymous until a deal is reached. Identities are revealed only after final agreement, ensuring unbiased negotiations.

4. Trading Window & Negotiations

• Market Window
  All trading activities, including negotiations, must occur within the designated market window set by Vesper. Listings and negotiations automatically expire at the end of this period.

• Negotiation Process
  Buyers and Sellers can use Counter Bids and Counter Offers to adjust terms until a mutual agreement is reached. All proposals and adjustments must be finalized before the market window closes.

• Finality of Deals
  Once a deal is confirmed, the agreed terms (price, volume, and conditions) are binding. Both parties are obligated to honor the agreement.

5. Transaction Process

• Deal Confirmation
  Deals become binding once both parties confirm acceptance. After confirmation, the terms cannot be altered unless mutually agreed.

• Final Credit Line Approval
  Deals may be subject to final credit line approval before being executed, providing additional risk management for Buyers and Sellers.

• Pre-existing Contracts
  If a Buyer has a pre-existing contract with an approved supplier, those contract terms supersede the Vesper agreement and must be followed.

• Transaction Compliance
  All transactions must comply with applicable laws and regulations, and Vesper will not participate as a Buyer or Seller in any trade.

6. Shipping & Delivery

• Sellers and Buyers are responsible for arranging delivery logistics and ensuring timely and accurate delivery of products based on agreed incoterm in the final deal.

7. Modifications & Updates

Vesper reserves the right to modify or update these trading rules at any time. Users will be notified of any changes, and continued use of the platform constitutes acceptance of the updated rules.