General & Return Policy
- The purchaser commits to provide and update the customer information form whenever requested by Velocity International.
- A minimum order quantity of AED 500 is required to qualify for free delivery. And a minimum order of AED400 is required to qualify for self-pick up. (AED50 to AED100 delivery or below minimum order surcharge is applicable subject to location & mode of order fulfillment). To qualify for promotional campaigns & payment terms other than cash on delivery, the buyer must make a minimum monthly purchase of AED 5000.
- Velocity International reserves the right to cancel any prior agreements made with the previous management, and to modify pricing, discounts, or payment terms in the event of a change in management or authorized signatory.
- The customer commits to making full payment of the invoice without any exceptions. The goods shall remain the property of Velocity International Trading LLC until all invoices are fully paid for.
- No exchanges or refunds are permitted for goods once they have been sold. The discretion for all exchanges or returns lies solely with Velocity International. Items must be accompanied by a credit note or return form for the return process. Returning items without a credit note is entirely at the risk of the buyer.
- Returns should be initiated within 7 working days. Returned products must be in the same condition as delivered, free of price tags or any markings, including dirt or dust, that could render the product unsuitable for resale.
Order Placement & Delivery
- Placing an order signifies the customer’s agreement to adhere to all terms and conditions outlined in this agreement.
- Orders can be placed through our designated channels, and they are subject to acceptance by Velocity International Trading LLC.
- The buyer’s authorized signatory affirms that they have granted appropriate authorization to their staff, team members, or any individuals utilizing the order placement channel, and this authorization is non-disputable at any time including in the event of merger and acquisition.
- All orders are considered final upon confirmation, and any changes must be requested and approved in writing prior to the delivery of the Sales Order or Invoice.
- The buyer commits to accepting both the delivery and payment without any subsequent rejection once the order is placed.
- The seller reserves the right to accept rejection in cases of goods with a short expiration date or those that are damaged. Upon receipt, the customer is responsible for inspecting products for damages or discrepancies.
MSRP, Pricing & Promotion
- All prices are exclusive of taxes, duties, and shipping unless explicitly stated otherwise.
- Quoted prices are subject to change without prior notice. In case of a pricing error, the buyer agrees to purchase the product at the correct pricing.
- Buyers failing to adhere to the MSRP established by Velocity International will be excluded from all future campaigns until they rectify their compliance with the set pricing.
- Deviation from the MAP set by Velocity International jeopardizes the margin expectations of our overall clientele. Consequently, adherence to the MSRP is imperative. Failure to comply with the MAP established by Velocity International will incur a surcharge of 5%, added to the total invoice value, and surcharge of 15% is to be added if the customer has violated MAP in marketplaces beyond the acceptable 1% to 2% variation to gain buy box.
- The customer commits to refrain from including any products in campaigns that are unauthorized by Velocity International.
Payment Terms & Late Payment Fee
- Velocity International requires a 6-month period for new customers to establish their monthly purchasing average before any upgrades or amendments to payment terms can be considered.
- Payment is expected upon delivery unless otherwise agreed upon in terms. A late payment fee of 3% per month will be applied for delays in payment beyond a reasonable timeframe.
- Velocity International abides by a standardized credit control and payment terms policy, ensuring that adopted payment terms align with clients across the board. In cases where a client does not agree with the terms set by Velocity International, our sole option is to provide a cash/card on delivery arrangement.
- The customer commits to completing and submitting all requested forms pertaining to credit insurance or providing suitable payment guarantees.
- If the customer is ineligible for credit insurance, a payment guarantees equivalent to three times the credit limit must be submitted in the form of an undated cheque.
- Payment term options encompass Cash/Credit Card on Delivery, Monthly Billing, and 30 days + running month. Depending on the frequency and volume of purchases, Velocity International reserves the right to adjust terms to enhance client experience, customer service, and operational efficiency.
- Failure to make timely payments jeopardizes all agreed-upon payment terms.
Warranty
- All products are covered by the warranty specified by the respective brands’ manufacturers. Any warranty claims received will be forwarded to the manufacturer, and customers will be informed about the expected time for the warranty claim process. Warranty claims should be submitted in writing via email.
Termination & Amendment of Agreement
- Velocity International retains the right to modify all terms under short notice to enhance practicality within the agreement.
- Either party may terminate the agreement in the event of a material breach by the other party. Termination must be communicated in writing, and obligations under the agreement survive termination. During the time of termination, all financial obligations must be cleared up with immediate effect.
- In the event of non-payment, the customer consents to Velocity International Trading LLC and its team members promptly retrieving all products supplied by the company from the customer’s premises. If the customer has already sold the products, items equivalent to the wholesale value from popular and fast-moving brands will be reclaimed. Should the customer decline to provide the equivalent brand at the wholesale price offered by its respective supplier, a restocking charge of 40% of the advertised retail value will be applied.
Business Name:
Authorized Signatory Name:
Authorized Signature & Company Stamp