Tradefox Terms of Service
This document constitutes a legally binding agreement (“Agreement”) governing the terms of providing you with our Product. Throughout this document, the words “Tradefox,” “tradefox.co,” “us,” “we,” and “our,” refer to us, Scrap Connection B.V., or our websites, tradefox.co, as is appropriate in the context of the use of the words. Likewise, the words “you” and “your” refer to you, the person who is being presented with this document for your agreement.
“Agreement” means these Terms of Service;
“Tradefox” refers to the business which owns the websites (Scrap Connection B.V.), our Sites, or our product, depending on the context of the usage;
“Product” refers to the services that we provide through our Site;
“Sites” refers to our websites under the domain https://tradefox.co
“User” refers to you, Buyers, Sellers, and any other person who uses our Product, or visits our Site;
“You” refers to you, the person who is entering into this Agreement with Tradefox.
3. Description of Service
Tradefox provides a business intelligence platform that displays reviews about businesses in the recycling industry.
4. Praises and reports
As a member of the Tradefox community, it’s important that you inform other Tradefox members about companies that trade in an exceptional way. You can use the Praise and Report feature to report good and bad trading behavior. Praises reward companies that act with high integrity. Reporting unfair trading practices provides a clear warning to other community members.
The Praise and Report feature can be found on any company profile. When selecting ‘Praise or Report Company’ you get the following options:
4.1 Praise a company
A member who has a company that has traded with another party can praise that company by selecting one of the following options:
– Honouring an agreement during an adverse event - (i.e.: honouring a verbal or written agreement during an adverse shift in the market.)
– Solving difficult problem(s) – (i.e.: Solving difficult problems related to shipping or customs agencies.)
– High Integrity - (i.e.: A company that has a long history of honesty and reliability.)
– Other positive praise
The Member may add additional information and upload documentation to support the praise.
The Tradefox team will review the praise before approving it. Based on the circumstances, praises are rated by a Tradefox team member. Higher ratings have a higher impact on the company’s TrustScore.
4.2 Reporting a company
A Member can report a company by selecting one of the following:
– Fraud warning – (i.e.: Other cheaper materials were shipped than agreed)
– Order not shipped – (i.e.: Nothing was shipped after payment)
– Quality Manipulation – (i.e.: The quality of the goods is not as described)
– Failure to pay as agreed
– Abuse of claims process
– Other unfair trading practice(s)
The Member must add additional information and upload documentation to support the report.
The Tradefox team will review the report before approving it. Based on the circumstances, reports are rated by a Tradefox team member. All approved report ratings negatively affect the company’s TrustScore and are also shown in a form of a banner on the company profile.
4.3 Report Guidelines
– A report cannot be fraudulent, misleading or deceptive or used as an extortion or manipulation method to gain something from the other party.
– Users are not allowed to conspire to increase each other’s feedback or attempt to damage another user’s reputation with unwarranted negative feedback.
– A report should not contain any personally identifying information, such as personal phone numbers or addresses.
– A report must be free of profanity and threats, as well as free of any political, religious, obscene, racist, sexist, discriminatory or vulgar language.
4.4 General information
– Praises and reports are reviewed within 2 business days.
– Tradefox reserves the right to remove any illegitimate feedback from a user’s profile.
– If you have inadvertently submitted feedback in error, please contact Tradefox support for assistance.
– Company owner may contact Tradefox support to gain insight into the report and dispute it if they feel it has not been justified.
– All trading partners are encouraged to work together and resolve any issues between themselves prior to leaving a report.
5. Information Supplied
When using our website, you will provide your name, e-mail address, mailing address, credit card information when subscribing to a paid plan and telephone number. We also require that Users provide suitable proof of identity, such as a copy of a business card, or some other evidence deemed suitable by Tradefox. Please note that although we engage in these vetting procedures, we make no warranties as to the identity of any User.
We may choose to process your payment directly, or we may pass some or all of the information you provide to us, including your credit card information, to a third party payment processor for processing.
In addition to providing us with the above information about yourself, when signing up for our Product, you must be at least the minimum age of contractual capacity in Amsterdam, The Netherlands, which is eighteen years old.
If you live somewhere other than Amsterdam, The Netherlands, you must be at least the minimum age of contractual capacity where you live, but, if that age is lower than eighteen, you must still be at least eighteen to use our Product.
We are merely a business intelligence platform for Buyers and Sellers who wish to find new trading partners and gain insight about a company’s trading behaviour. As such, we make no claims as to the reliability of either Sellers or Buyers who purchase scrap material from Sellers and, without limiting the generality of the foregoing, we make no claims about the quality of material sold, the reliability or honesty of a User, or the safety of any material provided or the method by which it is transported. You hereby acknowledge that Tradefox takes no responsibility for the sale of goods by Sellers, or the purchase of goods by Buyers, and you agree to release us from any liability related to such transactions that we might otherwise have towards you.
7.1. As part of registering, or submitting billing information when you subscribe for the plus or pro plan to the product, User agrees to provide us with updated, accurate and complete billing information, and User authorizes us (either directly or through our affiliates, subsidiaries or other third parties) to charge, request and collect payment (or otherwise charge, refund or take any other billing actions) from User’s payment method, and to make any inquiries that we may consider necessary to validate User’s designated payment account or financial information, in order to ensure prompt payment, including for the purpose of receiving updated payment details from User’s credit card company (e.g., updated expiry date or card number as may be provided to us by User’s credit card company).
7.2. Subscription Auto-Renewal.
In order to ensure that User will not experience any interruption or loss of services, User’s Subscription includes an automatic renewal, unless User cancels its Subscription.
Tradefox is not responsible for maintaining financial records on behalf of Users. As a User, you agree that you are an independent business or individual, not working on behalf of Tradefox in any way, and that you are retaining us for our services as a business intelligence platform only. Tradefox does not act as a representative, advisor, or accountant for any User in any way, nor does it manage how contracts are performed (such as how material is delivered).
As a User, you are solely responsible for maintaining your financial records and reporting your income to the Internal Revenue Service and state revenue agencies. You must ensure that you comply with all applicable tax legislation (as well as any other legislation), which may include the payment of sales or use taxes to state revenue agencies. You must also ensure that you comply with all customs requirements, such as the payments of tariffs on metals.
We are only a company that offers a business intelligence platform in which Buyers and Sellers can contact each other for the exchange of scrap materials and look up company’s trading behaviour. As we are not the Seller of any material ourselves, we cannot offer refunds, and it is up to Buyers and Sellers to solve any disputes amongst themselves independently of Tradefox.
You agree not to copy, distribute, display, disseminate, or otherwise reproduce any of the information on our websites, or our websites themselves, without our prior written permission. This includes, but is not limited to, aggregating our content, rewriting it and/or reposting it elsewhere.
“Tradefox” is a trademark used by us, Scrap Connection B.V., to uniquely identify our Site and our Service. You agree not to use this phrase anywhere without our prior written consent. Additionally, you agree not to use our trade dress, or copy the look and feel of our websites or its design, without our prior written consent. You agree that this paragraph goes beyond the governing law on intellectual property law and includes prohibitions on any competition that violates the provisions of this paragraph.
12. Revocation of Consent
Where Tradefox has given prior written consent for your use of our protected material in accordance with our above “Copyright” and “Trademarks” provisions, we may revoke that consent at any time. If we so request, we may require that you immediately take action to remove from circulation, display, publication, or other dissemination, any of the marks, copyrighted content, or other materials that we previously consented for you to use. We therefore recommend that, if granted such permission, you do not use our intellectual property in any manner that would result in a loss if we exercised our right to revoke consent to use that intellectual property.
13. Representations & Warranties
WE MAKE NO REPRESENTATIONS OR WARRANTIES AS TO THE MERCHANTABILITY OF OUR OR OUR USERS’ GOODS OR SERVICES OR FITNESS FOR ANY PARTICULAR PURPOSE. YOU AGREE THAT YOU ARE RELEASING US FROM ANY LIABILITY THAT WE MAY OTHERWISE HAVE TO YOU IN RELATION TO OR ARISING FROM THIS AGREEMENT OR OUR PRODUCTS, FOR REASONS INCLUDING, BUT NOT LIMITED TO, FAILURE OF OUR SERVICE, NEGLIGENCE, OR ANY OTHER TORT. TO THE EXTENT THAT APPLICABLE LAW RESTRICTS THIS RELEASE OF LIABILITY, YOU AGREE THAT WE ARE ONLY LIABLE TO YOU FOR THE MINIMUM AMOUNT OF DAMAGES THAT THE LAW RESTRICTS OUR LIABILITY TO, IF SUCH A MINIMUM EXISTS.
YOU AGREE THAT WE ARE NOT RESPONSIBLE IN ANY WAY FOR ANY LOSSES CAUSED BY THE PURCHASE OF GOODS OR SERVICES FROM OUR USERS, BY CONNECTING THROUGH OUR SERVICE. THIS INCLUDES ANY FAILURE OR DAMAGE CAUSED BY GOODS OR SERVICES, INCLUDING INJURY TO PERSONS OR PROPERTY.
WE ARE NOT LIABLE FOR ANY FAILURE OF THE GOODS OR SERVICES OF OUR COMPANY OR A THIRD PARTY, INCLUDING ANY FAILURES OR DISRUPTIONS, UNTIMELY DELIVERY, SCHEDULED OR UNSCHEDULED, INTENTIONAL OR UNINTENTIONAL, ON OUR SITE WHICH PREVENT ACCESS TO OUR SITE TEMPORARILY OR PERMANENTLY.
THE PROVISION OF OUR SERVICE TO YOU IS CONTINGENT ON YOUR AGREEMENT WITH THIS AND ALL OTHER SECTIONS OF THIS AGREEMENT. NOTHING IN THE PROVISIONS OF THIS “REPRESENTATIONS & WARRANTIES” SECTION SHALL BE CONSTRUED TO LIMIT THE GENERALITY OF THE FIRST PARAGRAPH OF THIS SECTION.
You agree to indemnify and hold us harmless for any claims by you or any third party which may arise from or relate to this Agreement or the provision of our Product to you, including any damages caused by your use of our Site or the products or services ordered from it. You also agree that you have a duty to defend us against such claims and we may require you to pay for an attorney(s) of our choice in such cases. You agree that this indemnity extends to requiring you to pay for our reasonable attorneys’ fees, court costs, and disbursements. In the event of a claim such as one described in this paragraph, we may elect to settle with the party/parties making the claim, and you shall be liable for the damages as though we had proceeded with a trial.
15. Choice of Law
This Agreement shall be governed by the laws in force in the Netherlands. The offer and acceptance of this contract are deemed to have occurred in the Netherlands.
16. Forum of Dispute
In order to limit the costs and complexity of legal proceedings against Tradefox, you agree that any dispute naming Tradefox or a party acting for or on behalf of Tradefox arising from or relating to this Agreement will be heard solely by the Dutch court system known in the Netherlands as the “Procedure Voor Geringe Vorderingen” (hereafter named as “Small Claims Court”, ). You agree that even if you may be entitled to a monetary, equitable, or other remedy exceeding the jurisdiction of the Small Claims Court, you will waive your right to that remedy and still bring your action within the Small Claims Court.
If the subject matter of a dispute includes multiple claims, at least one of which is eligible to be heard in the Small Claims Court, you will release us from liability for the ineligible subject matter and will instead proceed with the eligible subject matter within the Small Claims Court.
If, after the application of these Forum of Dispute provisions, your claim is still ineligible to be heard in the Small Claims Court, you agree that the dispute shall be heard in the next most summary manner available in a court of competent jurisdiction.[b]
If you bring a dispute in a manner other than in accordance with this section, you agree that we may move to have it dismissed, and that you will be responsible for our reasonable attorneys’ fees, court costs, and disbursements in doing so.
You agree that the prevailing party in any dispute will be entitled to claim from the unsuccessful party the entire amount of the prevailing party’s reasonable attorneys’ fees, costs, and disbursements in relation to the dispute.
17. Force Majeure
You agree that we are not responsible to you for anything that we may otherwise be responsible for, if it is the result of events beyond our control, including, but not limited to, acts of God, war, insurrection, riots, terrorism, crime, labour shortages (including lawful and unlawful strikes), embargoes, postal disruption, communication disruption, failure or shortage of infrastructure, shortage of materials, or any other event beyond our control.
In the event that a provision of this Agreement is found to be unlawful, conflicting with another provision of the Agreement, or otherwise unenforceable, the Agreement will remain in force as though it had been entered into without that unenforceable provision being included in it.
If two or more provisions of this Agreement are deemed to conflict with each other’s operation, Tradefox shall have the sole right to elect which provision remains in force.
In the event of a breach of this Agreement by you, or other actionable conduct, we may not take action against you, either knowingly or unknowingly. Such a failure to act on our part against you, or anybody else, for actionable conduct, should not be considered a waiver of our rights under this Agreement or under any applicable laws.
20. Termination & Cancellation
We may terminate your account or our provision of services to you, without explanation, though we will strive to provide a timely explanation in most cases. Our liability for refunding you will be limited to the amount you paid directly to us (not including payments paid to us when such payments were intended to be credited to another User rather than to Tradefox directly), except in cases where the termination or cancellation was due to your breach of this Agreement or for cause.
Termination for cause includes any activity which may be unlawful and/or harm Tradefox, its Users, or any other person, and includes but is not limited to the engagement or attempted engagement in fraud, hacking, violence, breach of contract with Tradefox or another User, money laundering, tax evasion, or any other activity which can cause harm to the Tradefox platform.
For services which have no time limit, such as advertising or account services with no expiration date on our provision of the service, you agree that we are not liable in any way whatsoever for refunding payments once our Service is at least partially provided to you, as we cannot take on the burden of guaranteeing that our Site will be online, or our business will exist, for an infinite amount of time.
You may not assign your rights and/or obligations under this Agreement to any other party without our prior written consent. We may assign our rights and/or obligations under this Agreement to any other party at our discretion.
We may amend this Agreement from time to time. When we amend this Agreement, we will send you an e-mail informing you that there has been a change. You may refuse to agree to the amendments, but if you do, you must immediately cease using our websites and our service and inform us of your refusal by e-mailing firstname.lastname@example.org with details.
Capital Recovery & Company Reviews Policy
1.1 Product introduction
Scrap Connection B.V. (hereafter referred as Tradefox) gives scrap traders (brokers/buyers/sellers) worldwide the opportunity to discover & connect with trusted scrap companies and leave trade and trust reviews. We do this by offering a powerful, open and transparent business intelligence platform that can also put Members in direct contact with companies worldwide.
We ask that you respect and comply with our guidelines for submitting reviews and our policy for our Capital Recovery Service, so that Tradefox remains a trustworthy and transparent place for everyone.
“Claimant” refers to the company and/or individual submitting a claim to the Capital Recovery Team in relation to an unfair trade or trading practice.
“Counterparty” refers to the company and/or individual a claim has been submitted against.
“Member” refers to you, Buyers, Sellers, and any other person who uses our Product.
“Monitoring” refers to the system by which Members follow companies on the Tradefox platform, first unlocking them then choosing to receive notifications about that company over a period of time.
“Praise”refers to a formal submission made to the Tradefox Capital Recovery Service that credits a company with good trading practices.
“Product” refers to the services that we provide through our Site.
“Report” refers to a claim that is formally submitted to the Tradefox Capital Recovery Service for review.
“Sites” refers to our websites under the domain https://tradefox.co
“Tradefox” refers to the business which owns the websites (Scrap Connection B.V.), our Sites, or our product, depending on the context of the usage.
2. Trust Reviews
You can leave a Trust Review if you are aware of the reputation of a company and have an informed opinion of the company’s products, services and/or business practices. To leave a Trust Review, it is not required that you have previously traded with this company. You can score a company from 1 to 5 stars, based on the reputation that you know the company by.
Don’t make up a Trust Review or leave a Trust Review impersonating someone else. If you’re closely associated with, work(ed) for, or are in competition with a particular company, you should not give it a Trust Review as you may be considered to have a biased opinion. Reviews deemed to have been submitted under bias may result in negative adjusters being applied to your company’s overall TrustScore for a period of time.
Our algorithms are designed to identify biased, unfair and highly negative reviews, notifying our team who will carry out an investigation into these submitted reviews and any unfair reviewing practices. Individuals and companies who unfairly submit Trust Reviews may be subject to remedial actions that may affect their company’s overall Tradefox TrustScore. Any decisions to this effect are at the sole discretion of Tradefox and its employees.
3. Trade Reviews
You can leave a Trade Review only when your company has previously traded with the company being reviewed. To leave a Trade Review, it is required that you have traded at least once with the other party. On the Tradefox dashboard you can score a company from 1 to 5 stars on the following criteria:
- Material Quality
- Payment Process
If a claim has been filed it is optional to leave additional comments which will be reviewed by the Tradefox team. If you choose to ‘submit confidentially’, your feedback will be included when we calculate your trading partner’s TrustScore and visible in aggregate on their profile, however they will not be made aware of your submission nor be able to read the details of your review. Trade feedback submitted without this option will be visible to the public, and your counterparty will be notified that you have given feedback on your trade with them.
Tradefox utilizes publicly available international trade data to match trading partners. This data is incomplete, meaning that often your company will not be matched with all of your active trading partners. If you wish to review a trade partner that you have not automatically been matched with, please contact our Support Team who will assist you to manually match your company with those trading partners.
Do not make up a Trade Review if you have no primary experience of working with that company, and do not leave a trade review impersonating someone else. If you’re closely associated with or work(ed) for the particular company being reviewed, you should not submit a Trade Review as you may be considered to have a biased opinion. Reviews deemed to have been submitted under bias may result in negative adjusters being applied to your company’s overall TrustScore for a period of time.
Our algorithms are designed to identify unfair and highly negative reviews, notifying our team who will carry out an investigation into any unfair reviewing practices. Individuals and companies who unfairly submit trade reviews may be subject to remedial actions that may affect their company’s overall TrustScore.
The Tradefox platform permits Members to leave Trade Reviews on multiple trades with a single trade partner as a group, or individually, meaning trade by trade. In addition claims on individual trades can be submitted as a Report if the Member chooses to escalate the claim and bring it to the attention of the Capital Recovery Team.
4. Praises and Reports
As a Member of the Tradefox community, it is important that you inform other Members about companies that trade in an outstanding manner. You can use the Praise and Report feature to report good and bad trading behavior. Praise rewards companies that act with high integrity. Reporting unfair trading practices provides a clear warning to other community Members.
The Praise and Report feature can be found on any company profile. When selecting ‘Praise or Report Company’ you get the following options:
4.1 Praise a company
A Member whose company has traded with another party can praise that company by selecting one of the following options:
- Honoring an agreement during an adverse event
(eg: Honoring a verbal or written agreement during an adverse shift in the market.)
- Solving difficult problem(s)
(eg: Solving difficult problems related to shipping or customs agencies.)
- High Integrity
(eg. A company that has a long history of honesty and reliability.)
- Other positive praise
The Member should add additional information and upload documentation to support the praise being reported.
The Tradefox team will review the praise before approving it. Based on the circumstances, praises are rated by the Tradefox Report Assessment Panel. Higher ratings have a positive impact on the company’s TrustScore.
4.2 Reporting a company
A Member can report a company by selecting on of the following:
- Fraud warning
(eg: Wrongful or criminal deception intended to result in financial gain.)
- Canceled order
(eg: Where a contract is canceled outside the terms of the agreement.)
- Quality Manipulation
(eg: The quality of the goods is not as described.)
- Failure to pay as agreed
- (eg: Contractually agreed payment terms have not been honored.)
- Abuse of claims process
- (eg: Where a claim has been exaggerated.)
- Other unfair trading practice(s)
The Member must add additional information and upload documentation to support the claim. Praise and reports are reviewed within 2 business days.
5. Capital Recovery process
5.1. Tradefox Pro Members who have been a Pro Member for more than 5 months or have an annual membership have access to the Tradefox Capital Recovery team. This global team consists of legal, accounting and collections professionals that work to assist in the recovery of funds lost due to clearly evidenced unfair trading practices.
5.2 Initial Consultation
You may submit a Report for a claim via the Praises and Report Company button on a company’s profile on the Tradefox platform. Alternatively you can contact us via support on the website or at email@example.com to request an initial consultation. We will review all documents submitted, and request additional documents as required in order to assess the validity of the claim(s).
5.3 Service Fees
The fees for the Tradefox Capital Recovery service are 20% of the recovered funds.
5.4 Collection of funds
You agree to sign over the collection process to Scrap Connection BV, whereby recovered funds will be remitted to the Claimant’s account within 2 business days of receipt.
5.5 Reviewing a claim
When a Claimant has filed a report, the Tradefox Capital Recovery team will review the reported claim and verify the submitted documents. When supporting documents are incomplete or inconclusive, the Tradefox Capital Recovery team will contact the Claimant to request additional documentation as supporting evidence.
When all documents in support of the claim are complete, Tradefox will make a decision whether or not to approve the claim. If approved, Tradefox will then commence actions to engage with the counterparty company (hereafter referred to as ‘Counterparty’).
5.6 Contacting the Counterparty company
Once a Member engages the Tradefox Capital Recovery team and enlists our assistance with an outstanding claim, Tradefox requires the Claimant to not have any contact with the Counterparty whether verbal, written or otherwise, while the investigation is proceeding, without first informing Tradefox in writing.
Tradefox will contact the Counterparty informing them that a claim has been filed against them and the details of the claim. Tradefox gives the Counterparty ten (10) working days within which to respond to the claim, to provide counter evidence or to make a proposal for a mutually acceptable resolution to the claim.
If the Counterparty refuses to engage with Tradefox to resolve the claim, or alternatively is unable to supply sufficient evidence to counter the claim being reported, then Tradefox reserves the right to escalate awareness of the reported claim throughout the Tradefox community, consisting of over 150,000 companies and 5,000+ individual members.
5.7 Counter evidence negating a submitted claim
Should sufficient counter evidence be presented by the Counterparty to the Capital Recovery Team that proves that a Claimant’s submission is wrong, then action will be taken against the Claimant. A banner stating what has occurred will be displayed on both the Counterparty’s Tradefox profile, and the Claimants. Tradefox reserves the right to apply a negative adjuster to a Claimants TrustScore for a period of up to 6 months, where falsely reported claims are proven to have been submitted.
This action applies regardless of the level of case escalation, defined in Clause 5.8.
5.8 Levels of case escalation via Tradefox platform
Tradefox reserves the right to escalate the visibility of any reported claims under investigation throughout the Tradefox Membership community.
5.8.1 Level 1
After ten (10) working days, if the Counterparty has not responded to the claim, nor made any presentation of counter evidence, a red banner will be displayed on the Counterparty’s profile on the Tradefox platform, stating: “An unfair trading practice has been reported and sufficient factual evidence has been established as to the validity of the claim.”
At this time all Tradefox Members actively Monitoring the Counterparty at the time of reported claim will be notified of the case being investigated.
In addition, a negative adjuster may be applied to the Counterparty’s TrustScore, assessed by the Capital Recovery Team on a scale of 1-5 depending on the severity of the claim. The higher the score the larger the negative adjuster will be and the greater the impact on the counterparty’s TrustScore.
If no response is received from the Counterparty in 10 business days, the claim will be escalated to Level 2.
5.8.2 Level 2
A notification will be sent to all 5000+ active Members of the Tradefox community. Further the Counterparty will be added to the Flagged Companies page which is publicly visible on the Tradefox website. https://get.tradefox.co/flagged/
If no response is received from the Counterparty in 10 business days, the claim will be escalated to Level 3.
5.8.3 Level 3
Tradefox will notify an escalation of the claim to companies operating in the Counterparty’s target markets as defined by geography and material types traded. Tradefox reserves the right to determine the means of notification but this may be inclusive of all of some channels, including:
- Direct Messaging via the Tradefox platform
- Direct Messaging via WhatsApp or other Direct Messaging communication technologies
- Posts on the Tradefox Capital Recovery LinkedIn page
- Trade Associations
If no response is received from the Counterparty in 10 business days, the claim will be escalated to Level 4.
5.8.4 Level 4
If the Counterparty has not engaged with the Capital Recovery team after a further 10 business days, the Claimant will be introduced to a Tradefox approved 3rd party service provider, that being a Collections Agency or Law Firm in the same geography as the Counterparty’s headquarters. An Engagement Letter will be created between the Claimant and the 3rd party service provider directly. A notification of the Engagement Letter will be sent to the Counterparty to make them aware of the escalation of the claim in question.
If the Counterparty does not respond within 10 business days after receipt of the notification, Tradefox will send case details to the 3rd party service provider and proceed to Level 5.
5.8.5 Level 5
Tradefox will issue a final notification to all Tradefox Members and the further 25,000 industry professionals listed on the Tradefox platform, informing them of the status of the submitted claim.
Further, a notification may be submitted to Trade Press via either a regular Press Release, or paid advertisement. Trade Press is inclusive of both Print and Online Media.
5.8.6 Formal Legal Proceedings
Should direct legal action be deemed necessary in order to resolve the claim, the Claimant will have the option to pursue the matter via regional legal channels utilizing the 3rd party legal service provider. All legal costs incurred between the Claimant and 3rd party service provider will be the responsibility of the Claimant and will be settled in accordance with the terms of the Engagement Letter on a cost recovery basis.
The Engagement Letter will be inclusive of the terms and conditions set out in this Capital Recovery & Company Reviews Policy, meaning all obligations set out between the Claimant and Tradefox will be honored, in accordance with the Jurisdiction of the Courts of the Netherlands.
Tradefox will receive 20% of any recovered funds in accordance with the terms of the Tradefox Capital Recovery policy. Recovered funds will be paid to Tradefox prior to the distribution of funds to the 3rd party service provider and then the Claimant, in that order.
On receipt of fees, the claim will be considered to be closed. At this time:
- The Counterparty will be removed from the Flagged Companies list on the Tradefox website.
- The red banner on the Counterparty’s profile will be removed.
- The Counterparty’s negative TrustScore adjuster will be removed.
- A notification will be sent to all Tradefox Members stating the removal of the Counterparty from the Flagged Companies list and that the case has been closed.
Last Updated: June 2022