Buyer-Seller Transactions

1. Introduction

This document outlines the relationships and responsibilities between parties in commercial transactions connected through the ViRFQ platform. Please read carefully before contacting buyers or conducting any transactions.

Important Note: ViRFQ is an information connection platform, NOT a party to transactions between buyers and sellers.

2. Role of ViRFQ

2.1. What ViRFQ Does

• Collect and review RFQ information from international buyers before publishing
• Provide buyer contact information to sellers (according to their service plan)
• Host seller company profiles and product pages, and provide tools such as the WhatsApp inbox and the Trade-AI customs-data assistant
• Grant a document-based Verified badge after manual review of business registration and export evidence
• Provide technical support for platform usage

2.2. What ViRFQ Does NOT Do

• NOT participate in any commercial transactions
• NOT negotiate or sign contracts on behalf of any party
• NOT process payments between buyers and sellers
• NOT ship, deliver, or inspect product quality
• NOT guarantee, warrant, or insure transactions
• NOT resolve commercial disputes between parties
• NOT bear responsibility for transaction outcomes

2.3. Disclaimer

ViRFQ operates in a neutral capacity, providing information and connections. We do not control and are not responsible for transactions, negotiations, or any agreements between buyers and sellers.

3. Buyer Responsibilities

When posting RFQs and transacting through the platform, buyers are responsible for:

3.1. RFQ Information

• Providing truthful and accurate purchasing requirements
• Clearly stating quantity, quality, and delivery time requirements
• Updating when requirements change or have been fulfilled
• Not posting fake, spam, or fraudulent RFQs

3.2. Transactions

• Carefully reviewing all offers from sellers before deciding
• Performing due diligence on sellers (company verification, capabilities)
• Negotiating and signing contracts with clear, complete terms
• Making payments on time as agreed
• Complying with import regulations in their country

4. Seller (Exporter) Responsibilities

When using RFQ information and transacting with buyers, sellers are responsible for:

4.1. Company Information

• Providing accurate, up-to-date business information
• Ensuring capability to meet buyer requirements
• Not falsifying certifications or export licenses
• Having complete business and export licenses as required

4.2. Communication

• Contacting buyers professionally and courteously
• Not spamming or sending unrelated mass emails
• Responding promptly to buyer requests
• Not using buyer information for other purposes

4.3. Transactions

• Providing honest quotations with complete costs
• Delivering correct quantity, quality, and timing as committed
• Complying with Vietnam export regulations
• Providing complete export documentation as required
• Resolving issues in good faith

5. Conducting Transactions

5.1. Recommended Process

1. Initial Contact: Send company introduction and capabilities
2. Verification: Request information for mutual verification
3. Quotation: Send detailed quote (price, terms, timeline)
4. Negotiation: Discuss terms, samples if needed
5. Contract: Sign Sales Contract with clear terms
6. Payment: Execute according to agreed method
7. Production & Delivery: Follow committed timeline
8. Documentation: Provide complete export/import documents

5.2. Common Payment Methods

• L/C (Letter of Credit): Safest, suitable for large transactions
• T/T (Telegraphic Transfer): Common, usually 30-50% deposit
• D/P, D/A: Payment upon document delivery or draft acceptance

5.3. Common Incoterms

• FOB: Seller delivers on board, buyer pays shipping
• CIF: Includes goods, insurance, and freight to buyer's port
• CFR: Like CIF but without insurance

6. Dispute Resolution

6.1. Principles

Disputes arising from transactions between buyers and sellers are resolved directly between the parties, not through ViRFQ. We do not have authority and do not participate in resolving commercial disputes.

6.2. Recommended Resolution

1. Direct Negotiation: Good faith discussion to find solutions
2. Mediation: Seek neutral third-party mediation
3. Arbitration: Resolve at international arbitration centers (VIAC, ICC)
4. Court: According to law and jurisdiction specified in contract

6.3. Dispute Prevention

• Sign detailed contracts with clear terms
• Specify quality, quantity, and timing requirements
• Include penalty and compensation clauses
• Define applicable law and dispute resolution body
• Keep all correspondence and transaction documents

7. Recommendations for Protection

7.1. For Sellers

• Verify buyer identity before sending detailed information
• Require deposits before producing large orders
• Use L/C for high-value orders with new customers
• Purchase export cargo insurance
• Keep copies of all contracts, emails, and documents
• Consult legal advice when needed

7.2. Fraud Warnings

Be cautious of these signs:

• Buyer requests shipping before full payment
• Requests to transfer money through unofficial channels
• Very large orders from new customers without deposits
• Emails from strange domains, not official company
• Pressure to decide quickly, no time for verification

8. Contact

If you need support regarding transaction information, please contact:

• Email: contact@virfq.com
• Report fraud or abuse: complaint@virfq.com or the Complaint Center
• Phone: +84 866 696 212 (Mon–Fri, 9:00–18:00 ICT)

Note: We only provide support for platform usage, not participate in resolving commercial disputes between parties.