Computerized Information Service
Grain Trade Electronic Grain Exchange
Rules & Regulations
1. General Concepts & Basic Definitions
Service (web trading floor) means the computerized information service - GRAIN TRADE Electronic Grain Exchange accessed at http://graintrade.com.ua and which purpose is to arrange for and follow competitive trading procedures assuming electronic mode thereof;
Personal account or user profile means service section of the website having URL: http://graintrade.com.ua that is made available to the registered Service Member (User) and accessible upon authorization procedure, whereby the User is requested to enter his valid details (and/or log-in) and password;
Operator means Limited Liability Company GRAIN TRADE UKRAINE, i.e. the legal entity having the ownership of the Service and providing for the support of performance and operation thereof;
Service user means any legal entity that underwent registration procedure according to those Rules & Regulations and which registration in the Service has been approved by the Operator based upon his appropriate decision;
Trading procedure (bidding & sales) means an in-Service procedure to be unambiguously followed and restricted to the specified method for carrying out thereof, provided it is governed by appropriate notifications and documents on carrying out such trading procedure, which purpose shall be selection of the Buyers and Sellers of grain and oilseed crops, as well as execution and entering into supply agreements (contracts);
Bidding or sales (trading procedure) method means the unambiguously specified guidelines for the Service supported carrying out of the trading procedure based upon competitiveness of bids/offers from the independent Bidders / Dealers;
Documents on carrying out the trading procedure means a package of e-documents (contract / agreement confirmation) that shall include all required and full-length information about trading procedure scope, terms & conditions, as well as reviewed exhibit to the notification of carrying out the trading procedure (sent purchase-and-sale contract) that is an integral part thereto;
Request (Bid/Offer) means an e-document submitted by the Bidder / Dealer for the purpose of participation in the trading procedure according to these Rules & Regulations.
2. General Provisions
2.1. Hereby the rules of carrying out the competitive trading procedures assuming online purchases of the goods in Grain Trade Electronic Grain Exchange (hereinafter referred to as the Service) accessed at http://graintrade.com.ua are set forth. Moreover, hereby are also governed the relationships that might have been arisen in the time of the Service supported trading procedures.
2.2. These Rules & Regulations have been worked out based upon provisions of the Civil Law of Ukraine.
2.3. The Service supported trading procedures are held for the purpose of grain Seller and/or Buyer selection based upon the most favorable terms (quantity, price, quality and delivery terms) either for entering into supply contracts, or studying by the Service Users of the current market situation with regard to one or another commodity and/or service.
2.4. In order to be allowed to take part in the Service supported trading procedures, the users shall undergo registration procedure as set forth herein.
3. Accession to the Rules & Regulations
3.1. Pursuant to provisions of Section 8 hereof, the Service Users are involved in accession to these Rules and Regulations in the time of registration in the Service
3.2. By accession to these Rules and Regulations, the Service User irrevocably and absolutely agrees with terms & conditions, requirements and procedures set forth herein, including any exhibits or schedules hereto that are valid at the time of filing an application for registration in the Service. In addition, the Service User agrees with all possible amendments (supplements) and undertakes to be made on his own aware of such amendments (supplements) hereto.
4. Amendment (Supplements) of the Rules & Regulations
4.1. Amendment (supplement) of these Rules & Regulations, including the exhibits and schedules hereto, shall be done exclusively by the Operator.
4.2. These Rules and Regulations having a format of e-document are published by the Operator in the publicly accessible part of the Service, in particular in the About us section. Notification of amendment (supplement) hereof shall be done by the Operator through mandatory publication of a new text of the Rules and Regulations (as amended and revised) in the publicly accessible part of the Service being additionally referenced in the News section of the same public part of the Service.
4.3. All amendments (supplements) to these Rules and Regulations made by the Operator shall become valid and binding upon all entities that have been involved in accession hereto as of the date of publication by the Operator of a new text of the Rules and Regulations (as amended and revised) in the publicly accessible part of the Service.
4.4. All exhibits & schedules, as well as amendments and supplements to these Rules and Regulations shall be integral parts thereof.
4.5. Should the Service User be far apart on amendments hereof, he shall be entitled for termination of the agreement with the Operator under terms & conditions thereof.
5. Rights & Duties; Responsibility of the Service Users
5.1. The Bidders / Dealers shall be entitled to:
5.1.1. enter to the Service bids or offers for sale of the grain and oilseed crops, as well as information about own company and proposed crop purchase & sale terms;
5.1.2. take part in the Service supported trading procedures, i.e. send counterbids / offers, confirm contracts, etc.;
5.1.3. add news, provided that they are related to the grain market issues only (Ads are prohibited);
5.1.4. make use of all information available on the website;
5.1.5. complain about the other Service Users or notify the Service Operator about breach of these Rules & Regulations;
5.2. The Bidder / Dealer shall:
5.3.1. follow provisions of these Rules & Regulations whenever he is involved in any activity within the Service;
5.3.2. comply with terms & conditions of submitted by him request during its validity period specified therein;
5.3.3. enter into appropriate purchase-and-sale contract, if the counterparty has been sent a confirmation of contract (subsequent to the results of bid/offer exchange), within at least 2 (two) business days as of the date, whereon the confirmation is sent. In such case the information on terms & conditions of the purchase-and-sale contract shall be treated as confidential, while the data on price of the goods shall be stored in the Service for the purpose of the further setting of the fair market price available on the website at: http://graintrade.com.ua;
5.3.4. update in due time the information about his organization entered in the time of registration in the Service, including its tax and bank details, data about offered and/or consumed goods, works and services, as well as timely download to the Service valid copies of documents referenced in the time of registration;
5.4.5. provide for keeping secure and confidential the Service User password; immediately inform the Operator in case of any suspect of its unauthorized use by the third parties.
5.4.6. The Service User shall be held liable for any breach of these Rules & Regulations, in which consequence any rights of the third parties are infringed.
5.4.7. The Service User shall be responsible for the adequacy of information published and submitted by him in the course of the Service online use.
5.4.8. All operations performed by the Service Users duly authorized by User login and password shall be recognized as operations of certain Service User that has been given appropriate User login and password and therefore imposed appropriate duties and granted certain rights.
5.5. The Service Operator shall be entitled to:
5.5.1. check the information submitted by the Service User for the adequacy thereof;
5.5.2. deny the Service User access to Personal account / User profile, thus disabling him of in-Service working in case of breach of provisions hereof, or lock such access until full remedy of violations committed;
5.5.3. update the Service and modify functions thereof, as well as amend these Rules & Regulations.
5.6. The Service Operator shall:
5.6.1. provide for technical functionality allowing participation in the Service supported public trading procedures, as well as for equal opportunities for the Service Users in admission to participation in public trading procedures, inclusive of granting access to the information on public bidding.
5.6.2. publish in due time the information that might make effect on rights and duties of the Service Users in the News section of the publicly accessible part of the Service.
5.11. The Service Operator shall NOT be held liable for:
5.12. any damage, diseconomies or other losses borne by the Service User in consequence of inappropriate soft and hardware used by him for use of the Service (in conflict with its technical requirements), in particular:
• the Service User’s lack of computer hardware with required utilities, soft and application programs, which configuration complies with requirements of the Service use;
• existence of the engineering & software restrictions and configurations available in the Service User computer hardware, disabling him of the robust use of the Service;
• the Service User’s failure to use the Service because of hostile programs (viruses) infecting the Service User computer hardware;
• shortfalls of the Service User networking infrastructure activities that have resulted in his disconnection from the Inet, thus disabling the Service User of the robust use of the Service;
• shortfalls of the networking system activities and restrictions imposed by a provider (a firm providing the Service User with access to the Inet), which services are employed by the Service User, as well as malfunctions of the soft & hardware of a provider that have resulted in nonscheduled and unforeseen disconnections of the Service User from the Inet, thus disabling him of the robust use of the Service.
5.13. any damage, diseconomies or other losses borne by the Service User, should they have arisen because of undue use of information regarding the Service User, as well as relationship between the Service User and Operator, in particular:
• poor awareness of the Service User employees of these Rules & Regulations; neglect and failure of the Service User employees to meet all requirements and follow all procedures stipulated herein that have resulted in undertaking by the Service User of the additional, undue, too much enhanced and unplanned commitments before other Service Users, thus affecting business reputation of the Service User;
• failure to keep secure User login, password and electronic digital signature tools; unauthorized transfer (without authorization of the Service User administration) by a employee appointed as person responsible for the Service User conduct of User login, password and electronic digital signature tools for log-in and use of the Service to the third parties having no appropriate powers and qualification to use the Service;
• in-Service operations performed on behalf of the Service User by the third parties that have got access to the Service by the reasons stated herein, through their lack of qualifications and poor awareness of these Rules & Regulations that have resulted in undertaking by the Service User of the additional, undue, too much enhanced and occasional commitments before other Service Users;
• in-Service operations performed on behalf of the Service User by the third parties that have resulted in changing the information just about the Service User, thus affecting his business reputation as User of the Service;
5.14. content of message(s) and documentation about carrying out the procurement procedure (posted and drawn up accordingly) published by a Bidding process initiator;
5.15. content of request submitted by the Bidder/Dealer for the purpose of participation in procurement procedure;
5.16. Bidding process Initiator conduct with respect to handling the Bidder/Dealer request, admission and/or rejecting the request of a procurement procedure Participant; content of Memorandum of review with regard to requests for participation in procurement procedures, terms of the aforesaid Memorandum submitting by a bidding process Initiator to the Operator; and other procedural activities of a bidding process Initiator connected with handling of requests for participation in procurement procedures;
5.17. Bidding process initiator conduct with regard to independent review of procurement procedure progress, in particular determination on his own of to (from) whom and under what terms & conditions certain goods shall be sold (bought) in case if it is different from a confirmation generated by the Service according to provisions hereof;
5.18. procedure of entering (rejecting by whatever reason) into agreements by a Bidding process initiator and Bidder/Dealer based upon carried out Service supported procurement procedures;
5.19. respective meeting by either party of provisions of agreement, which has been entered by such parties based upon carried out Service supported procurement procedures.
5.20. if the information posted by the Service User becomes known through a fault of such Service User (or his employees) to the third parties, which might use it for causing harm to the Service User.
5.21. In case of failure to meet or undue complying with provisions hereof and other agreements reached, the Operator and Service User shall be held liable as set forth by applicable laws of Ukraine.
6. Service Overview
6.1. The Service is available on the web-site accessible at: http://graintrade.com.ua/.
6.2. Access to the Service stored information may be got with help of generally available Web browsers, however Google Chrome is recommended.
6.3. The Service operation is set based upon date and time appropriate of the EE(S)T hour zone (Kyiv time). Date and time format settings of the Service are: DD/MM/YYYY and hours: hours & minutes: minutes: seconds & milliseconds (24-hour clock format is used).
7. E-Document Flow & Electronic Digital Signature
7.1. All announced and carried out Service supported trading procedures are held only by electronic means assuming use of the electronic document flow. All documents and data required for registration in the Service and participation in trading procedures, inclusive of submitting requests and price quotations, shall have electronic format when filed in the Service.
7.2. Service User documents and data filed in the Service as e-documents shall be validated by other Service Users through confirmation of contracts or counterbids/offers via e-mail, which address is a User login name stated at registration.
7.3. The e-document sent by the Service User shall be legally binding instrument having certain legal effects as set forth herein and pursuant to requirements of the applicable laws of Ukraine.
8. Service Registration Procedure
8.1. In order to be admitted to participation in the Service supported trading procedures, the User shall undergo a mandatory registration procedure. Registration is free of charge.
8.2. For the purpose of registration the User shall enter legal entity data in the Registration section of the web-site, whereafter he shall be granted full access to the e-bidding service upon validation of his e-mail. The User’s data will be then verified by the web-site Manager within next 3 (three) days (by phone).
8.3. In case of submitting untrue information or invalid data, the Applicant’s registration may be rejected.
8.4. In case of positive decision about registration, the Applicant shall be sent email with notice of successful registration and link for signing in the Service. Immediately upon registration the Applicant shall be given a status of the Service User.
8.5. In case of rejecting Applicant’s registration, he shall be sent email (to the e-mail address indicated by him) with notice of registration rejection together with the reason(s) and grounds thereof. Should the stated reasons preventing the Applicant from the registration be eliminated, he may re-apply for registration and submit documents and data required according to § 8.2 hereof.
8.6. Access to the restricted zone of the trading floor and Personal account / User profile of the Service User shall be granted only to persons who have successfully undergone registration procedure.
8.7. Filing an application for registration with the Service, the Applicant automatically affirms that he has got familiarized with these Rules & Regulations and agreed with all requirements and procedures stipulated therein.
8.8. User registration may be suspended or canceled by the Operator in case of breach by the User concerned of requirements hereof or contractual commitments, in which case such User shall be deprived of the Service User status.
9. Service Working Hours
9.1. The Service assumes non-stop operation (24 hours, 7 days per week), except for the time of scheduled maintenance and/or extraordinary service breaks.
9.2. The Operator shall post notifications of time and period of the scheduled maintenance (in the time of which, the Service is unavailable) in publicly accessible part of the Service at least 2 (two) days before such work commencement date.
9.3. In case of any technical and/or software bags and/or other problems of the Operator preventing, either in whole or partially, the Users from use of the Service or carrying out trading procedures, the Operator shall within at least 2 (two) hours after recovery of the Service workability post appropriate message in publicly accessible part of the Service, whereby everybody are informed of reason, date & time of the Service connection loss, as well as date & time of recovery the access to the Service.
9.4. Working hours for the Operator advising support of the Service Users on issues regarding operability of the Service: Mon-Sun, 9:00 am – 5:00 pm (Kyiv time). See contact telephone numbers and e-mail addresses in the publicly accessible part of the Service.
10. Settling Bidding Process Related Disputes
10.1. All disputes that may arise between the Service Users out of or in connection with carrying out a trading procedure shall be settled according to a procedure set forth thereto in documentation on carrying out the trading procedure.
10.2. No provision hereof may be construed as whatever restriction of any Service User right on legal recourse.
11.1. Through registration on the web-site the Parties authorize for and vest each other with the right of entering data (personal and/or identification) of the counterparty to databases (including the electronic ones) for the purpose of processing, storage and use (registration, collection, etc.) of such data in connection with activities of a Party, which is the recipient thereof, including, but not limited to databases required for preparation of accounting, statistical, financial and tax statements, as well as other reporting, monitoring or control forms being drawn up and kept in compliance with standards of a Party, which is the data recipient. The Parties do hereby acknowledge, agree and guarantee that all data (personal and/or identification) of the Party that become known to another Party through meeting provisions hereof may be included, stored and processed (used, etc.) in databases (including the electronic ones) both in time of validity of these Rules & Regulations and upon expiry thereof.
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