TERMS & CONDITIONS
Terms & Conditions :
1. Definitions
Platform means Petrolube Trade's website, dashboards, mobile applications, APIs, and any other services or tools provided by Petrolube Trade for facilitating the trading, listing, or procurement of petroleum products.
Buyer means any legally registered business entity, including companies, partnerships, or sole proprietorships, that procures petroleum products via the Platform.
Seller means any legally registered business entity listing or supplying petroleum products on the Platform.
User means any Buyer, Seller, or other entities accessing the Platform, whether registered or unregistered.
Third-Party: Any individual or entity over which Petrolube Trade does not have any control or ownership, and which operates independently on its own is hereinafter referred to as a Third Party.
Transaction refers to any commercial trade, order, quotation, bid, negotiation, or agreement facilitated, directly or indirectly, through the Platform.
2. User Eligibility
Users must be legally registered business entities under applicable law. Individuals or unregistered entities are strictly prohibited.
Buyers and Sellers must provide accurate, verifiable business documentation, including GST registration, licenses, or corporate registration certificates, as requested.
By registering, Users confirm they are compliant with all laws relating to petroleum trade, including safety, environmental, and licensing obligations.
Petrolube Trade reserves the right to suspend, restrict, or terminate accounts found to be in violation of these eligibility requirements.
3. Account Responsibility:
Users are solely responsible for maintaining the confidentiality of login credentials, passwords, and account access methods.
Any activity performed using a User account is presumed authorized by the account holder, unless the User promptly reports unauthorized access.
Petrolube Trade shall not be liable for any loss, damages, or unauthorized activity arising from negligence, including sharing credentials or weak passwords.
Users must immediately notify Petrolube Trade of any suspicious activity. Failure to notify promptly may result in liability for all transactions conducted during the period of compromise.
4. Transactions
All orders conducted via the Platform must comply with applicable Indian laws, petroleum regulations, safety standards, and licensing requirements.
Prices, product specifications, availability, and delivery terms are provided exclusively by Sellers. Petrolube Trade acts solely as a facilitator and is not a seller, buyer, or guarantor of product quality.
Buyers are responsible for verifying Seller credentials, product authenticity, and compliance with local regulatory requirements before finalizing any transaction.
Sellers must ensure that all products listed comply with statutory standards, proper documentation, and safety regulations.
Petrolube Trade reserves the right to refuse, suspend, or cancel any Transaction that violates these Terms, applicable laws, or ethical business standards.
5. Commissions & Fees
Non-verified Buyers shall pay a refundable advance of the order value on each Transaction as per Platform rules, which shall be communicated with each transaction.
Sellers or buyer shall pay a commission of 0.25% or 0.5% on each Transaction as per Platform rules, which shall be charged separately or deducted automatically from payment settlements.
All Fees are non-refundable unless explicitly stated in the Platform's Refund Policy.
Platform reserves the right to revise Fees, commissions, or advance payments upon prior notice. Continued use of the Platform constitutes acceptance of such changes.
6. Liability Limitation
1. Platform Disclaimer of Product and Transaction Liability
Petrolube Trade acts solely as a facilitator of Transactions between Buyers and Sellers. The Platform does not manufacture, supply, inspect, or guarantee the quality, quantity, condition, authenticity, legality, or safety of any petroleum products listed or sold. All product specifications, certifications, and compliance documentation are provided solely by Sellers, and Buyers must independently verify these before completing any Transaction.
2. Delivery and Logistics:
Petrolube Trade shall not be responsible for delays, partial deliveries, damage, or non-delivery resulting from Sellers, logistics partners, or circumstances beyond reasonable control, including natural disasters, strikes, lockouts, government regulations, embargoes, or transport mishaps.
3. Unauthorized Account Use:
Users are responsible for maintaining account confidentiality. Petrolube Trade shall not be liable for unauthorized access or misuse arising from User negligence or third-party interference. Users must immediately report suspicious activity.
4. Limitation of Damages:
Petrolube Trade shall not be liable for indirect, incidental, consequential, special, or punitive damages, including loss of revenue, business opportunities, profit, anticipated savings, goodwill, reputation, or any other financial or non-financial loss arising directly or indirectly from use of the Platform or participation in Transactions.
5. Indemnification
Users shall indemnify, defend, and hold harmless Petrolube Trade, its officers, directors, employees, agents, and affiliates from and against all claims, actions, demands, losses, liabilities, penalties, damages, costs, or expenses (including legal fees) arising from:
6. Acknowledgment of Risk
Users expressly acknowledge and agree that they assume full responsibility for all commercial, regulatory, and operational risks associated with buying, selling, or transporting petroleum products. Users further acknowledge that these liability limitations are reasonable, fair, and necessary for operating a B2B petroleum marketplace.
7. Governing Law & Dispute Resolution :
1. Governing Law
These Terms and any Transactions conducted via the Platform shall be governed by and construed in accordance with the laws of India. Users expressly agree that Indian law shall apply to all matters arising out of or in connection with the use of the Platform, including contractual, tortious, or regulatory issues.
2. Amicable Resolution & Pre-Litigation Requirements
For any dispute arising directly between a Buyer and a Seller regarding product quality, delivery, or terms of a specific Transaction, the disputing parties agree to first engage in direct, good-faith negotiation for a period of not less than thirty (30) days from the date the dispute arose. Petrolube Trade shall not be a party to such negotiation or any subsequent mediation or arbitration proceedings between the Buyer and the Seller, and the Platform shall not be responsible for any associated costs, fees, or outcomes.
3. Continued Use Constitutes Acceptance
By using the Platform, Users acknowledge and accept the governing law, jurisdiction, and dispute resolution procedures described herein.
Last Updated: January 2025