iVANZi Joint Sale  

 

Joint Sale is exclusive to iVANZi and represents a groundbreaking solution for B2B commerce.  By creating a secure transaction cycle for both the buyer and seller, iVANZi’s Joint Sale Program eliminates the core issues and risks that plague a typical consignment agreement and creates a mutually beneficial transaction for both the buyer and seller.

 

          Wholesale Seller                        Wholesale Buyer                           

 

Wholesale Buyer: (anchored)

Imagine being able to fill your retail shelves with new and exciting products for your customers while substantially lowering the risk of dead or stale inventory. The Joint Sale Program allows you to purchase products from our verified iVANZi Wholesale Sellers with the option of choosing between a 30-day or 60-day Rapid Product Cycle (RPC). This helps you to adjust inventory faster in response to changes in taste.   

The RPC begins once you receive your shipment. iVANZi monitors the Joint Sale and you display the products on your store’s shelves during the RPC.  At the end of the RPC, you may return unsold items to the seller for credit.  You’re only responsible for paying for sold products, shipping costs for unsold inventory and the initial $50 Joint Sale Program fee.

Wholesale Seller: (Anchored)

Break down the barriers that have restricted you and your products from getting purchased by wholesale buyers and retail stores.  iVANZi’s Joint Sale Program creates a secure and low-risk environment helping you to increase your brand’s visibility to wholesale buyers and retailer stores.  

More exposure means greater sales opportunities.  iVANZi regulates the JSP so you do not have to worry about wholesale buyers extending the length of the payment terms or worse yet, not getting paid. By melding consignment and NET 30/60 payment terms, iVANZi removes the issues of trust in establishing a buyer-seller relationship. These are the 2 major pitfalls that have hindered a traditional consignment arrangement.

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                      Wholesale Seller                                                   Wholesale Buyer

How it works

Joint Sale for Wholesale Seller

  • Setup your iVANZi online store and list your products.

  • Choose which products you would like to offer for joint Sale payment option

  • Choose the product cycle that you would like to commit to. We advise you to choose a 60 day product cycle.  Make sure all your products that are offered for Joint Sale payment option have the same product cycle.

  • iVANZi will contact both you and the buyer to provide an agreement for you both to sign when you receive an order from a wholesale buyer and accept.  

  • You process the order and ship the order to the wholesale buyer once you both agree to the JSP terms and conditions.

  • The Rapid Product Cycle begins once the the wholesale buyer receives the shipment.  

  • The wholesale buyer has a 5-day grace period to ship back any unsold items at the end of the RPC.* Upon delivery of the unsold items, you have a 3-day grace period to inspect and verify that the items are in good condition.  

iVANZi will send you automated messages with suggested offers based on sold items and a monthly report showing demand trends for your merchandise. This allows you to manage your inventory by producing and stocking up on higher demand merchandise.

* The wholesale buyer is required to initiate a ‘Return Merchandise Authorization’ (RMA) from their iVANZi account for the unsold items within 5 days of the end of the RPC. If the wholesale buyer does not ship back the items on time and does not provide proof of shipment, we will consider all items sold. In this case, the wholesale buyer loses the right to file a dispute. The remaining balance of unsold items will be credited after shipment to the seller upon satisfactory inspection of returned merchandise within 3 days. Sellers who fail to notify iVANZi within 3 days lose the right to file a dispute and will result in iVANZi releasing the balance of Joint Sale Funds to the wholesale buyer.

* You are required to initiate a ‘Return Merchandise Authorization’ (RMA) from your iVANZi account for the unsold items within 5 days of the end of the RPC.  If you do not ship back the items on time and provide proof of shipment, we will consider all items sold and will release the full amount of the Joint Sale Funds to the seller.

Terms of Service of JSP

A Seller and a Wholesale Buyer (“Buyer”) agree to allow the Seller to display products for sale in the Wholesale Buyer’s store during the Rapid Product Cycle (RPC). The RPC has a duration of either thirty (30) or sixty (60) days from the day the Buyer receives shipment from the Seller.  The Buyer agrees to pay the Seller the wholesale price previously agreed upon by both parties plus shipping. Sellers participating in Joint Sale will only receive payment for sold merchandise. At the end of the RPC, the Buyer agrees to ship back any unsold merchandise to the Seller. The Buyer has a 5-day grace period to pack and ship unsold items. The Seller has a 3-day grace period to acknowledge receipt of unsold merchandise and to determine “sellability” of such merchandise.

Upon receiving authorization to enter into a Joint Sale from both parties, the Buyer agrees to have iVANZi hold in its escrow account, the “Joint Sale Funds”, or the full wholesale purchase price including shipping for the Seller’s merchandise. iVANZi holds Joint Sale Funds until completion of the RPC.

IN ORDER TO ENTER INTO A JOINT SALE, BUYERS ARE REQUIRED TO PURCHASE SHIPPING INSURANCE FROM A REPUTABLE COURIER SERVICE FOR RECEIVING AND SHIPMENT OF MERCHANDISE.

Disputes

Buyers may file a claim with their courier service if the merchandise arrived from a Seller in unsellable condition. The Buyer is responsible for cooperating with the courier’s investigation by providing any pertinent information the courier service deems necessary to render its decision regarding reimbursement of the declared value of shipped merchandise.

Sellers may also file an insurance claim for damaged unsold inventory received from the Buyer at the conclusion of the RPC. The Seller is responsible for cooperating with the courier’s investigation by providing any pertinent information the courier service deems necessary to render its decision regarding reimbursement of the declared value of shipped merchandise.

The Buyer and Seller agree to abide by the courier’s final decision in making whole the aggrieved party and does not hold iVANZi responsible for the courier’s decision. Upon receiving proof of the courier’s decision, iVANZi will release Joint Sale Funds to the aggrieved party based on that decision, claim of receiving unsold merchandise as unsellable by the Seller. with us during the 5-day grace period, or we will assume that you have no dispute with the transaction. If the Seller does not receive the unsold items from the Buyer or if the items are damaged or otherwise unsellable, the Seller may file a dispute with us within the 3-day grace period. If no dispute is filed, or we will assume that the B2B Seller does not have any dispute with the transaction. At the end of the three (3) day period, if no disputes are filed with us, we will release the agreed-upon Joint Sale Funds to you (for any unsold Products) and the B2B Seller, less our commission and transaction service fee. If there is a dispute filed by either you or the B2B Seller, we will hold any disputed Joint Sale Funds until the dispute has been resolved between you and the B2B Seller. You acknowledge that while we may agree to informally mediate such disputes, we have no obligation to do so, and we will make no determinations as to the validity of any such disputes.  

iVANZI will send you automated messages with suggested offers based on sold Products  in the past (automated analysis based on demand & returned Products will be sent as a monthly report to both you and the B2B Buyer). The B2B Buyers will benefit from continuously changing their inventory collection with limited risk taken. The only expense for the B2B Buyer is the cost of shipment (including insurance) of unsold Products back to the B2B Seller at the end of the R.P.C. The risk is also limited for the B2B Seller, because we will hold the Joint Sale Funds from the B2B Buyer during the R.P.C.  

BY ENTERING INTO A JOINT SALE WITH A SELLER, YOU RELEASE US FROM ALL LIABILITY IN ACCORDANCE WITH OUR HANDLING OF THE JOINT SALE FUNDS, PROVIDED THEY ARE HANDLED IN ACCORDANCE WITH THE TERMS OF THIS POLICY AND YOUR AGREEMENT WITH THE SELLER.  

Reviews

We expect the best from our Users and closely monitor customer satisfaction with our reviews system. Reviews are a direct representation of how our Users do business and will likely be a determining factor for Buyers. You can leave a review, including a one to five-star rating and a photograph of your purchase for 60 days after the delivery of a Product. You can edit your review, including the photograph any number of times during that 60-day period.

By leaving a review or photograph, you agree and acknowledge that:

  1. Your review and/or photograph and profile information will be publicly displayed on the Seller's listing and review pages.

  2. All reviews should be honest and truthful.  

  3. You have not received any payment or any other consideration from a Seller in exchange for a Product review.

Reviews and photographs shall not:

  1. Contain private information;

  2. Contain obscene, racist, or harassing language or imagery;

  3. Contain prohibited medical drug claims;

  4. Contain advertising or spam;

  5. Be about things outside the Seller’s control, such as a shipping carrier, iVANZi or a third party; or

  6. Undermine the integrity of the Reviews system.

Extortion

Extortion is not allowed on iVANZi. Any attempt to manipulate reviews through threats, intimidation, or bribery is considered extortion and is strictly prohibited on iVANZi.

Examples of extortion include, but are not limited to, the following:

  1. A Buyer leaves a negative review in an attempt to force the Seller into providing additional Products that were not agreed upon in the original transaction.

  2. A Buyer leaves a negative review in an attempt to force the Seller into providing a refund when a refund is not warranted.

Shilling

Shilling is strictly prohibited on the iVANZi Platform. Shilling is the fraudulent inflation of a Seller’s reputation by use of an alternate account. The intent of shilling is to make a Seller look more desirable by increasing the Seller’s number of sales and overall review score. Not only does it violate our core value of transparency, but it is considered to be a deceptive business practice by the US Federal Trade Commission. Reviews must reflect the honest, unbiased opinions, findings, beliefs, or experience of the Buyer.

By posting any reviews to the iVANZi Platform, you warrant that:

  1. You own the content, including all photographs, or you have the rights or permission to use the content and photographs; and

  2. You understand that, as stated in the Agreement, iVANZi has license to use any content and photographs you provide to iVANZi for any purpose whatsoever.

Sellers are permitted to respond to reviews of three or fewer stars. Sellers’ responses to reviews must also comply with this Policy. Sellers can hide photographs that they do not feel accurately represent their Products, or they may report reviews that violate our Agreement.

We reserve the right to remove reviews or photographs that violate our policies or Agreement or for any reason or at our sole discretion.

Refunds and Exchanges 

There are a few important things to keep in mind when returning a Product you purchased online from a Seller through the iVANZi Platform: 

  1. You have 7 calendar days to return a Product from the date you received it.

  2. You can only return Products that have been purchased directly through the iVANZi Platform.

  3. You must ensure that the Product you are returning is repackaged with all the tags and documentation that were included when you received it.

  4. You must follow and comply with any particular policies of the Seller from whom you purchased the Product.

Returning a Product

It is important to have a return agreement with the Seller before you ship any Products back to Seller. This means you will want to ensure that you have the following:

  1. Written confirmation the Seller will accept the return

  2. A return shipping address provided by the Seller

  3. When the seller expects to receive the Products back

  4. Who is responsible for the return shipping costs

Be sure to hold on to all records of return shipment (like tracking information or a postal receipt) in case further action is required.

iVANZi Joint Sale Returns

If you are participating in the iVANZi Joint Sale program, it is your responsibility to send back unsold Products. They must be insured and be able to track the product, after the prescribed R.P.C. in a ‘sell-able’ condition. This means there should be no damage to the Products, and the Seller should have no problem selling the Products to a customer in their current condition.

Along with any unsold Products, you are responsible for providing feedback and analysis as to why you believe the Products did not sell and how the Seller may improve the Products.   

Ineligible Returns

There are some Products that are ineligible for return, including:

  1. Custom made orders/ Made to order

  2. Products   not in original packaging and/ or in sellable condition

  3. Underwear

  4. Products that have been purchased in person and not through the iVANZi Platform

  5. Intangible Products, services, or prohibited Products

  6. Transactions where payment is not made through iVANZi’s payment platform

  7. Products that are returned without a return agreement

  8. Products that have been altered, used, worn, or washed after receiving them

  9. Physical or tangible Products that have been destroyed or discarded by the Buyer

  10. Products that are received after the agreed-upon delivery date due to shipping delays beyond the Seller’s control

  11. Cancelled transactions that have already resulted in a refund

Disputes

We believe that most disputes between a Buyer and Seller can be resolved quickly. Before you or a Seller file a dispute with us, we ask that you and the Seller contact each other to attempt to resolve any outstanding issues in good faith. If any dispute arises between you and any Seller, and after undertaking direct negotiations with the Seller in good faith, you have not been able to resolve the dispute within fifteen (15) days from the date that the dispute arose, you may file a dispute with us. Under most circumstances, we will attempt to mediate the dispute, but we have no obligation to do so.

You acknowledge that all transactions with a Seller are your sole responsibility, and we are not a party to any such transactions. If you are unable to resolve the dispute with the Seller, your only remedy may be to bring a legal claim against the Seller. You acknowledge that we will not be a party to any such legal proceedings, but we will honor any and all court orders or final judgments issued in such proceedings.

We have the right to hold all monies involved in connection with the disputed transaction until we receive either (a) a statement by both Buyer and Seller that the dispute has been resolved or (b) a court order.

You specifically acknowledge and agree that we shall have no liability to you or any third party in relation to any dispute between you and any User of the iVANZi Platform.

Issues with a Transaction

The most common issues with a transaction are Non-Delivery or Not-as-Described.   

Non-Delivery

A Non-Delivery occurs when a Buyer places an order and submits payment, but does not receive the Product ordered. The following are examples of Non-Delivery cases:

  1. A Product was never sent.

  2. A Product was sent to an address that is different from the address provided by the Buyer or was not verified through iVANZiChat or USPS address verification.

  3. There is no proof that the Product was shipped to the Buyer’s address.

Not-as-Described

A Product is Not-as-Described if it is materially different from the Seller’s listing description and/or photos. Here are a few examples of Not-as-Described cases:

  1. The Product received is a materially different color, model, version, or size.

  2. The Product has a different design, fabrication, or material.

  3. The Product was advertised as authentic but is not authentic.

  4. The Seller failed to disclose the fact that a Product is damaged or is missing parts.

  5. The wrong quantity of Products is shipped.

  6. The condition of the Product is misrepresented. For example, the description at the time of purchase said the Product was “new”, but the Product is used.

You acknowledge that the particular settings of your computer may not accurately reflect that exact quality, color, or design of a Product. If you believe that a Product you receive does not accurately reflect the depiction of the Product on the Website, you should notify the Seller, and your sole remedy is to return the Product pursuant to the Seller’s refund policy.

Not-as-Described cases can also be filed for late delivery of Products. In order to qualify as late delivery, the Buyer must provide proof that all of these conditions have been met:

  1. The Products were ordered for a specific date or event of which the Seller was aware; and

  2. A deadline was agreed upon by the Buyer and Seller; and

  3. The Products are rendered useless after that date or event.

Cancellations

A transaction may not be cancelled unless the Seller agrees to such cancellation. Buyers may request that a Seller cancel an order via iVANZiChat, but a Seller is under no obligation to do so.

iVANZiChat

iVANZiChat is a tool used by Buyers and Sellers to communicate with each other or with other Users directly through the iVANZi Platform. iVANZiChat is a great way to ask Sellers any questions you have about a Product or an order. iVANZiChat may not be used for the following activities:

  1. Sending unsolicited advertising or promotions, requests for donations, or spam;

  2. Harassing or abusing another User;

  3. Contacting a User after the User has explicitly asked you not to do so; or

  4. Interfering with a transaction or the business of another User.

Prohbitied Activities 

Interference

You will not engage in any interference. Interference occurs when a User intentionally interferes with another User’s store in order to drive away business. Interference is strictly prohibited.  Examples of interference include, but are not limited to:

  1. Contacting another User via iVANZiChat to warn that User away from a particular Seller, store, or Product;

  2. Posting in public areas to demonstrate or discuss a dispute with another User;

  3. Purchasing from a Seller for the sole purpose of leaving a negative review; or

  4. Leaving an untrue or defamatory review of a Seller or a Product. 

Harassment

You will not engage in any harassing behavior. Any use of iVANZiChat or the iVANZi Platform to harass other Users, to support or glorify hatred toward, or otherwise demean people based upon race, ethnicity, religion, gender, gender identity, disability, or sexual orientation is strictly prohibited. If you receive an iVANZiChat message that violates this Policy, please let us know right away.

iVANZi Joint Sale is an online ordering and payment gateway. The supplier using iVANZi.com and choosing to participate in the Joint Sale program will not be paid for the products ordered by a retailer or a wholesale buyer unless the products are sold to a third party (customer) within the agreed upon product cycle — just like in the commonly used consignment sale. What is unique about the iVANZi Joint Sales program is that it regulates and governs payments, shipment tracking, and disputes.

As mentioned, iVANZi Joint Sale is conducted within an agreed upon product cycle — meaning the product will only stay on shelves for a specified amount of time as agreed upon by both the supplier and retailer. We call this the Rapid Product Cycle (RPC). iVANZi’s RPC requires that products stay on shelves for a minimum of one month, maximum of two months from the day shipment arrives to the retailer.  The products that do not sell by the end of the Rapid Product Cycle (30 or 60 days) are shipped back to the supplier. The supplier receives payment for items sold during the RPC only. Along with the unsold products, the supplier also receives feedback from the retailer concerning slow moving items/unsold items (optional to retailer to do so).  As a result, the supplier can make product adjustments and have a better understanding of the market trends and consumer behaviors unique to the retailers demographics. Both retailers and suppliers benefit from feedback and are encouraged to improve choices and item selection.

The iVANZi Joint Sale process is available to verified suppliers and retailers.  A shelf-life is defined as the number of allotted days a retailer has before he/she will needtpay for the products he/she purchased on credit.

The Joint Sale process is described below:

  • A Seller defines a shelf-life of 30-60-days for sellable products.

  • When placing an order, a retailer chooses the Joint Sale option as a payment method. A retailer may use stored credit card information or enter a new credit card. The payment is transferred to an escrow/hold account.

    • Braintree Escrow payments will be setup. Payment will be done online. At the end of the product cycle, unsold items will be returned to the supplier. The value of unsold items will be a credit in the retailer’s wholesale buyer account. The buyer can request for the money to be transferred to his account, or s/he keep it as credit for their next purchase using iVANZi Joint Sale.

  • The supplier absorbs the cost of shipment and attaches the tracking number to the order. The shelf life begins on the date that the shipment is received by the retailer.

  • For automated shipment status updates, shipping must be restricted to UPS/FedEx/USPS. For all other carriers, the shelf life will begin on the date the shipment is received.

  • When the shelf life time has expired, the payment is released to the supplier.

  • Payments will be released to an account type that is supported by Braintree.

  • The retailer has the option to return the product to the supplier before the shelf life expiration date, in which case, the money will be refunded back to the retailer. The retailer will not be able to do that once committed to product cycle, unless in the case of a dispute. In that case, we will penalize the buyer 5% of the value for not committing to the Joint Sale and credit it to the supplier.  

  • The retailer has to initiate a ‘Return Merchandise Authorization’ (RMA) from the system for the unsold items. An RMA system will be implemented to handle such returns. The retailer has 5 days grace period to do so. If he or she does not ship back the items on time and have proof of shipment then we will consider all items were sold and he or she loses the right to dispute. Also important to note that remaining balance of unsold items will be credited after shipment is received by supplier and cleared by him (no damage, no claims, etc).

  • The supplier will review the request, which is supported by images and reason(s). The supplier must approve the RMA from their dashboard. The supplier has a dispute option and it will be resolved promptly by our customer service. Very similar to freelance.com.

  • The retailer absorbs the cost of shipment of unsold items and attaches the tracking number to the order.

  • The retailer must use common shipping carriers like UPS or FedEx, which use tracking APIs for shipment verification and tracking.

  • When the system verifies that the shipment is received, it will automatically initiate the refund from Escrow. At this stage a supplier may file for a ‘Dispute’ option. The supplier has 3 days after shipments arrives to approve. The money is released ONLY after supplier approves. iVANZi will govern the dispute based on evidence provided by both parties.

  • iVANZi.com’s platform will also send automated messages with suggested offers based on sold items in the past (automated analysis based on demand & returned items should be sent as a monthly report to both retailers and suppliers). The retailers using iVANZi.com will benefit from continuously changing their inventory collection with limited risk taken. The only expense for the retailer is the cost of shipment of unsold merchandise back to the supplier at the end of the Product Cycle.  

iVANZi Joint Sale will eliminate risks, fraud, provide a trusted payment gateway that helps both retailers and suppliers to work together in a safe environment. The platform itself will act as a “matchmaking” service between suppliers and retailers — which will help both businesses grow and succeed in a highly competitive market.

Joint Sale:

What is unique about Retail Linx’s B2B platform iVANZi.com is that we do not just host an online B2B marketplace. Retail Linx regulates and implements a unique technique called Joint Sale via the Rapid Product Cycle formula and we also offer another payment solution we call Net-iVANDZi payment.

Joint Sale means that the entrepreneurs (supplier) will display products on the retailer’s shelves. The entrepreneur participating in the Joint Sale will not be paid unless the products are sold.

The R.P.C is the technique in which Joint Sale is conducted. The maximum product life cycle on shelves is two months and the minimum is one month from the day shipment arrives to the retailer.  If products or a number of the products supplied by the entrepreneur do not sell by the end of the Rapid Product Cycle agreed upon, then unsold items are shipped back to the supplier. The entrepreneur (supplier) only receives payment for sold items during the R.P.C. and gets feedback from the retailer concerning slow moving items/unsold items (optional to retailer to do so).  As a result, the supplier can make adjustments and have a better understanding of the market trends and consumer behavior that is unique to the retailer’s demographics. Both retailers and suppliers benefit from feedback and are encouraged to improve choices and item selection. iVANZi.com platform should send automated messages with suggested offers based on sold items in the past (automated analysis based on demand & returned items should be sent as a monthly report to both retailer and entrepreneurs). The retailers using iVANZi.com will benefit from continuously changing their inventory collection with limited risk taken. The only expense for the retailer is the cost of shipment of unsold merchandise back to the supplier at the end of the Product Cycle.

Joint Sale Process:

The joint sale process is available ONLY to verified Suppliers and Retailers. A Supplier has the ability to define a shelf-life for every product available for sale.  A shelf-life is defined as the number of allotted days a Retailer has before he will need to pay for the products he purchased on credit.

The Joint Sale process is described below:

  • A supplier defines a shelf-life of 30-60-90 days for sellable products
  • When placing an order, a retailer chooses the Joint Sale option as a payment method. A retailer may use stored card information or enter a new Credit Card. The payment is transferred to an escrow account.

 

Braintree Escrow payments will be setup.

  • The Supplier absorbs the cost of shipment and attaches the tracking number to the order. The shelf life begins on the date that the shipment is received by the Retailer.
  • For automated shipment status updates, shipping must be restricted to UPS/FedEx/USPS. For all other carriers, the shelf life will begin on the date the shipment is initiated.
  • When the Shelf Life time is expired, the payment is released to the Supplier.

Payments will be released to Venmo accounts or whatever type is supported by Braintree.

  • The Retailer has the option to return the product to the Supplier before the shelf life expiration date, in which case, the money will be refunded back to the Retailer.

The Retailer has to initiate an ‘Return Merchandise Authorization’ (RMA) from the system for the unsold items. An RMA System will be implemented to handle such returns.

  • The Supplier will review the request, which is supported by images and reason(s). The Supplier must approve the RMA from their dashboard.

The Retailer absorbs the cost of shipment and attaches the tracking number to the order.

The Retailer must use common shipping carriers like UPS or FedEx, which use tracking APIs for shipment verification and tracking.

  • When the system verifies that the shipment is received, it will automatically initiate the refund from Escrow.