These Terms of Use ("Terms") govern your access to and use of the racklots.com platform ("Platform") operated by racklots.com ("Company", "we", "us"). By registering or using the Platform, you agree to be bound by these Terms.
To use racklots.com, you must:
We reserve the right to refuse or terminate access to any user at our discretion.
racklots.com is a B2B marketplace that facilitates transactions between sellers and buyers of surplus, overstock, and excess inventory. We are a platform provider — we are not a party to transactions between users. All contracts for sale and purchase are between the buyer and seller directly.
You agree to use the Platform only for lawful business purposes and in accordance with these Terms. You must not:
Sellers are solely responsible for the accuracy of their listings. Listings must include accurate information about quantity, condition, location, and pricing. We reserve the right to remove any listing that violates these Terms or that we deem inappropriate at our discretion.
By listing on the Platform, you represent and warrant that you have legal title to the inventory and the right to sell it, and that the inventory is free from any third-party claims, liens, or encumbrances.
All transactions on racklots.com are processed through our escrow payment system. Buyers must fund escrow before sellers are instructed to dispatch. Funds are released to sellers upon buyer confirmation of delivery.
In the event of a dispute, we will mediate between buyer and seller. Our decision in disputes regarding escrow release is final. We are not responsible for losses arising from disputes between users.
Early access partners currently transact at zero commission. Our subscription-based pricing model will be communicated to users before it takes effect. Existing users will receive advance notice of any changes to fee structures.
All users are responsible for their own GST compliance. Sellers must issue valid GST invoices for all transactions. Buyers are responsible for correctly accounting for input tax credits. racklots.com is not responsible for the tax consequences of transactions between users.
The following categories of goods may not be listed or transacted on the Platform:
racklots.com provides the Platform "as is" without warranties of any kind. We are not liable for:
Our total liability to any user for any claim shall not exceed the total fees paid by that user to racklots.com in the 12 months preceding the claim.
All content on the Platform — including logos, design, text, and software — is owned by or licensed to racklots.com. You may not reproduce, distribute, or create derivative works without our explicit written permission.
We may suspend or terminate your account at any time for violation of these Terms, fraudulent activity, or any other reason at our discretion. On termination, your right to use the Platform ceases immediately. Escrow funds for pending transactions will be handled in accordance with our dispute resolution process.
These Terms are governed by the laws of India. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the courts of New Delhi, India.
We may update these Terms from time to time. We will notify registered users of material changes via email with at least 14 days notice. Continued use of the Platform after the effective date constitutes acceptance of the updated Terms.
For questions about these Terms: