NEW

Tradeling Logistics

UAE
|
English
Office EssentialsFinance Options

Food & Beverage

Office & Stationery

Health & Wellness

All CategoriesAll Sellers
  • FINANCING TERMS AND CONDITIONS

    Updated August 13, 2020

    To help you boost your cash flow, we at Blink Technologies FZCO (“Tradeling”) have teamed up with Invoice Bazaar to offer you financing for your purchases on Tradeling.com.

    These are the Financing Terms and Conditions (“FTC”) that apply to your application for a credit line and the resulting grant or denial of the credit through Tradeling.com. By applying for the financing, you agree to be bound by the FTC, User Terms and Conditions and Privacy Policy, which are incorporated by reference in this FTC.

    Tradeling may update the FTC at any time. Any changes to the FTC will be posted on this page. Once posted, the new FTC will be effective immediately. By continuing to apply for credit or using an existing credit line, you will be considered to have accepted the updated FTC.

    1. Conditions for Financing Application

      1. Any UAE company registered as a Buyer on the Tradeling.com platform is eligible to apply for financing.
      2. The credit line is only available for purchases made through Tradeling.com.
      3. For your application for a credit line to be fully considered, the following documents must be submitted to Tradeling for Invoice Bazaar’s review:
        • Trade License, Memorandum/Articles of Association and passport, visa and Emirates ID copy of the owner;
        • Last 3 months’ bank statements of the primary commercial bank account;
        • VAT registration and last VAT filing or payment record;
        • Latest Al Etihad Credit Bureau report for both the company and owner; or
        • Any further documents as required, if the submitted documents do not give a full assessment of the credit risk
      4. If only the Trade License, Memorandum/Articles of Association and passport, visa and Emirates ID copy of the owner are submitted without the above financial documentation, you will only be eligible for thePre-Approval stage (as described in Clause 2.1) until the financial documents are submitted and your credit line is approved by Invoice Bazaar.
      5. Invoice Bazaar will grant up to a maximum of AED 50,000 credit line, however, based on a review of your credit risk, you may be approved for a lower amount of credit.
      6. Submission of an application and documents for financing does not guarantee that credit will be granted.Your application may be rejected for any reason whatsoever.
    2. Pre-Approval, Approval and Financed Transactions

      1. If you submit only the Trade License, Memorandum/Articles of Association and passport, visa and Emirates ID copy of the owner without the financial documentation required in Clause 1.2, you will only be eligible for the Pre-Approval stage, until all financial documents are submitted and your credit line is approved byInvoice Bazaar.
      2. Once you receive the Pre-Approval and pay the AED 500 registration fee to Invoice Bazaar, your virtual bank account will be set up, and you may conduct your first two transactions on a 100% cash basis (you will deposit 100% of the transaction amount in the virtual account) to prove your creditworthiness.
      3. After you submit the financial documentation (if not previously completed) and your line of credit is approved, you will receive a Term Sheet and Supplier Payment Agreement (“Agreement”) from Invoice Bazaar, which states the terms and conditions of the credit line.
      4. Once the first two 100% cash basis transactions are completed, future transactions will be paid as follows:
        • Third transaction: You will pay 90% and Invoice Bazaar will pay 10%;
        • Fourth transaction: You will pay 80% and Invoice Bazaar will pay 20%; and
        • Fifth transaction onward: Your cash payment may reduce, based on the Term Sheet.
      5. Full repayment of each credit line transaction must be made to Invoice Bazaar within 30 days of the payment of the Seller’s invoice.
      6. Your credit line will be available for a period of 12 months from the date of the Terms Sheet.
      7. There will be a registration fee of AED 500 (plus 5% VAT), in addition to the following transaction fees for each transaction using the credit line, payable to Invoice Bazaar:
        • For purchases under AED 10,000 – AED 200 (plus 5% VAT)
        • For purchases above AED 10,000 – AED 350 (plus 5% VAT)
    3. Tradeling’s Liability

      1. Tradeling is not a lender, but offers financing through Invoice Bazaar for the convenience of its customers.
      2. The financing through Invoice Bazaar is subject to a separate agreement (Term Sheet and Supplier Payment Agreement) between you and Invoice Bazaar, to which Tradeling is not a party. Any claims that you may have will be against Invoice Bazaar, based on the terms and conditions of that agreement. Under no circumstances will Tradeling will be liable to you for the use of this service.
      3. You agree to defend Tradeling, our affiliates, directors, officers and employees against any and all third-party losses, claims and liabilities (including legal costs) which may result from your violation of this FTC or use of the credit line services by Invoice Bazaar through Tradeling.com. You agree to fully compensate Tradeling for such losses.
      4. Tradeling will not be liable to pay any consequential, indirect, punitive or incidental damages (including but not limited to damages for loss of profits or savings, business interruption, loss of information),resulting from your use of Invoice Bazaar’s credit line services through Tradeling.com.
      5. The credit line through Invoice Bazaar is subject to a separate agreement (Term Sheet) between you andInvoice Bazaar, to which Tradeling is not a party. Any claims that you may have will be against InvoiceBazaar, based on the terms and conditions of the Term Sheet. Under no circumstances will Tradeling will be liable to you for the use of this service.
      6. You agree to defend Tradeling, our affiliates, directors, officers and employees against any and all third-party losses, claims and liabilities (including legal costs) which may result from your violation of this FTC or use of the credit line services by Invoice Bazaar through Tradeling.com. You agree to fully compensate Tradeling for such losses.
    4. General Clauses

      1. Unless you have any additional agreements with Tradeling, this FTC represents the entire agreement between you and Tradeling as to your use of the financing services through Invoice Bazaar, overriding any prior written or verbal agreements that may have been made.
      2. If any clause of this FTC is considered invalid or unenforceable, such clause will be deleted and the remaining clauses will remain valid and enforceable.
      3. This FTC is governed by and construed according to the laws and regulations of the United Arab Emirates as applied in the Emirate of Dubai. Any dispute, difference, controversy or claim arising out of or in connection with this FTC, including any question regarding its existence, validity, interpretation,performance, discharge and applicable remedies, will be subject to the exclusive jurisdiction of the Courts of the Dubai International Financial Centre (“DIFC”) Small Claims Tribunal (“SCT”)for claims up to the amount of UAE Dirhams One Million (AED 1,000,000) (USD $272,000). For disputes that do not qualify for determination through the SCT, the Courts of the DIFC will have exclusive jurisdiction to settle such dispute.

    If you have any questions regarding this FTC, please see the Credit Line FAQs or Contact Us.

Buy on Tradeling

  • Food & Beverage

  • Office & Stationery

  • Health & Wellness

  • All Categories

  • All Sellers

Sell on Tradeling

About Tradeling

Tradeling Services


Stay Updated

Follow us on

linkedin-icon

© 2020 tradeling.com. All rights reserved.

BLINK Technologies FZCO - Dubai Airport Freezone (DAFZA) - Building 9W - 5th floor