Terms & Conditions

1.1 No Guarantees

RiceBroker acts as an intermediary brokerage company connecting rice buyers and sellers. We do NOT:

• Guarantee the quality, quantity, or condition of any rice traded through our platform
• Guarantee the successful completion of any transaction
• Own, possess, or control any rice inventory
• Guarantee any specific price or market rates
• Guarantee the identity or creditworthiness of any party beyond our verification process

1.2 User Responsibility

All parties using RiceBroker are responsible for:

• Conducting their own due diligence before entering any transaction
• Verifying the quality and quantity of rice before confirming delivery
• Ensuring all information provided is accurate and truthful
• Complying with all applicable Pakistani laws and regulations
• Maintaining proper business licenses and tax registrations

1.3 Market Risks

Rice trading involves inherent market risks including but not limited to:

• Price fluctuations
• Quality degradation during storage or transit
• Supply chain disruptions
• Regulatory changes
• Natural disasters and force majeure events

RiceBroker is not liable for any losses arising from market risks.

2.1 Eligibility

To use RiceBroker services, you must:

• Be at least 18 years of age
• Be a Pakistani citizen or authorized to conduct business in Pakistan
• Possess valid CNIC (Computerized National Identity Card)
• Have a valid business registration (for commercial traders)
• Have an active Pakistani bank account in your name or business name

2.2 Account Registration

Users must provide accurate and complete information during registration including:

• Full legal name as per CNIC
• Valid CNIC number
• Business name and NTN (if applicable)
• Accurate contact information
• Valid bank account details

Providing false information is grounds for immediate account termination and may result in legal action.

2.3 Acceptable Use

Users agree NOT to:

• Use RiceBroker services for any illegal activities
• Provide false or misleading information about rice quality or quantity
• Engage in price manipulation or market fraud
• Circumvent the escrow system for direct payments
• Contact or attempt to contact the other party directly
• Share contact information with or request contact information from the other party
• Conduct future transactions with parties introduced by RiceBroker without our involvement
• Harass, threaten, or abuse other users or RiceBroker staff
• Use RiceBroker services for money laundering or terrorist financing

2.4 Confidentiality & No Direct Contact Policy

Users agree to the following:

• RiceBroker will NOT disclose contact details of either party to the other
• Users shall NOT request or share phone numbers, addresses, or business locations
• All negotiations, queries, and communications must be conducted through RiceBroker
• Any attempt to bypass RiceBroker for direct dealing will result in immediate account termination
• If parties are found to have dealt directly after being introduced by RiceBroker, both parties shall be liable for payment of full commission on all such transactions
• RiceBroker reserves the right to pursue legal action for commission recovery on bypassed deals

Why this policy exists:

• Protects both parties from fraud and non-payment
• Ensures neutral mediation in case of disputes
• Maintains quality standards and accountability
• Preserves the integrity of the escrow system

2.5 Account Termination

RiceBroker reserves the right to suspend or terminate any account that:

• Violates these Terms of Service
• Is involved in fraudulent activities
• Fails verification checks
• Has multiple unresolved disputes
• Is inactive for more than 12 months

3.1 How Escrow Works

1. Buyer deposits agreed amount into RiceBroker's designated escrow account
2. Funds are held securely until delivery confirmation
3. Seller delivers rice as per agreed specifications
4. Buyer inspects and confirms receipt within 48 hours
5. Upon confirmation, funds are released to seller minus applicable fees

3.2 Escrow Timeline

• Deposit Confirmation: Within 24 hours of bank transfer
• Buyer Confirmation Window: 48 hours from delivery
• Auto-Release: If buyer doesn't respond within 48 hours, funds are released to seller
• Seller Payment: Within 24-48 hours of release confirmation

3.3 Escrow Disputes

If buyer raises a dispute within the 48-hour window:

• Funds remain frozen in escrow
• RiceBroker initiates dispute resolution process
• Both parties must provide evidence within 72 hours
• RiceBroker makes a decision within 7 business days
• Decision is final and binding unless challenged through legal channels

4.1 Cash Only Terms

• 100% of the agreed transaction value must be deposited into RiceBroker escrow before goods are dispatched
• No credit, no IOUs, no post-dated cheques, no partial payments
• Escrow deposits must be made via bank transfer or cleared funds only
• Rice will only be released to buyer after full payment confirmation
• Sellers receive payment only after buyer confirms satisfactory receipt

4.2 Standard Commission

4.3 Add-On Service Fees

Service	Fee
Quality Assurance (Lab Testing)	+0.5%
On-Site Inspection	+0.3%
Logistics Coordination	+0.4%
Export Documentation	+0.5%
Transit Insurance	+0.25%
Priority Service	+0.2%

4.4 Payment Terms

• All fees are calculated on the total transaction value
• Fees are deducted from escrow before fund release
• Fees are non-refundable once a transaction is completed
• In case of cancelled transactions, a cancellation fee of 0.5% may apply
• RiceBroker reserves the right to modify fees with 30 days notice

4.5 Taxes

Users are responsible for:

• Payment of all applicable taxes including GST, Income Tax, and Withholding Tax
• Proper invoicing and tax documentation
• Filing tax returns related to rice trading activities

RiceBroker may deduct withholding tax as required by FBR regulations.

5.1 Prohibited Activities

• Misrepresentation: Falsely describing rice quality, variety, or quantity
• Fake Documentation: Submitting forged CNIC, business documents, or quality certificates
• Payment Fraud: Using stolen bank accounts or fake payment proofs
• Escrow Circumvention: Attempting to bypass escrow for direct payments
• Identity Theft: Using another person's identity to trade
• Collusion: Buyer-seller collusion to defraud RiceBroker
• Money Laundering: Using the platform to launder illicit funds

5.2 Fraud Detection

RiceBroker employs the following measures:

• CNIC verification through NADRA-linked systems
• Business registration verification with SECP/FBR
• Bank account verification
• Transaction pattern monitoring
• User behavior analysis
• Physical verification visits for high-value traders

5.3 Consequences of Fraud

• Immediate account suspension
• Forfeiture of any funds held in escrow
• Report to FIA Cyber Crime Wing
• Civil lawsuit for damages
• Criminal prosecution under applicable Pakistani laws
• Blacklisting from all RiceBroker services permanently

5.4 Reporting Fraud

If you suspect fraudulent activity:

• Contact us immediately via WhatsApp: +92 300 1234567
• Email: [email protected]
• Provide all relevant evidence and documentation
• All reports are treated confidentially

6.1 Dispute Process

1. Initial Report: Party raises dispute within 48 hours of delivery
2. Evidence Submission: Both parties submit evidence within 72 hours
3. Investigation: RiceBroker reviews all evidence
4. Mediation: Attempt to reach mutual agreement
5. Decision: Final decision within 7 business days

6.2 Acceptable Evidence

• Photographs and videos with timestamps
• Third-party quality test reports
• Weighbridge receipts
• Delivery receipts and bilty
• WhatsApp conversation screenshots
• Bank transaction records

6.3 Decision Outcomes

• Full Release to Seller: If buyer's claim is unfounded
• Full Refund to Buyer: If seller failed to deliver as agreed
• Partial Release: Split based on assessed fault
• Return & Refund: Buyer returns rice, gets refund minus return costs

6.4 Arbitration

If either party is unsatisfied with RiceBroker's decision:

• They may request formal arbitration
• Arbitration will be conducted under Pakistan Arbitration Act, 1940
• Venue: Lahore, Pakistan
• Language: English or Urdu
• Arbitrator fees to be borne by the losing party

6.5 Jurisdiction

All disputes shall be subject to the exclusive jurisdiction of the courts of Lahore, Punjab, Pakistan.

7.1 Service Limitations

RiceBroker provides a platform and escrow service. We are NOT:

• A party to the rice sale/purchase transaction
• A guarantor of transaction completion
• An insurer of rice quality or delivery
• A financial institution or bank

7.2 Exclusion of Damages

RiceBroker shall NOT be liable for:

• Direct, indirect, incidental, or consequential damages
• Lost profits or business opportunities
• Losses due to delayed transactions
• Damages from platform unavailability or technical issues
• Third-party actions or failures
• Force majeure events (natural disasters, strikes, government actions)

7.3 Maximum Liability

In no event shall RiceBroker's total liability exceed the fees charged for the specific transaction in question.

7.4 Indemnification

Users agree to indemnify and hold RiceBroker harmless from any claims, damages, or expenses arising from:

• Violation of these terms
• Fraudulent or illegal activities
• Disputes with other users
• Tax liabilities

8.1 Information We Collect

• Personal identification (name, CNIC, address, phone)
• Business information (NTN, registration, bank details)
• Transaction history and patterns
• Communication records (WhatsApp, calls)
• Device and usage information

8.2 How We Use Information

• Verify user identity and prevent fraud
• Process transactions and payments
• Communicate about trades and services
• Improve our services
• Comply with legal obligations

8.3 Information Sharing

We may share information with:

• Counter-parties in a transaction (limited contact info only)
• Third-party service providers (labs, transporters)
• Law enforcement when legally required
• FBR for tax compliance

We do NOT sell your personal information to third parties.

8.4 Data Security

We implement reasonable security measures including:

• Encrypted data transmission
• Secure data storage
• Access controls and authentication
• Regular security audits

8.5 Data Retention

We retain user data for:

• Active accounts: Indefinitely
• Closed accounts: 7 years (as required by tax laws)
• Transaction records: 10 years

9.1 Applicable Laws

RiceBroker and all users must comply with:

• Pakistan Penal Code, 1860
• Contract Act, 1872
• Sale of Goods Act, 1930
• Income Tax Ordinance, 2001
• Sales Tax Act, 1990
• Anti-Money Laundering Act, 2010
• Prevention of Electronic Crimes Act (PECA), 2016
• Pakistan Standards and Quality Control Authority (PSQCA) regulations

9.2 AML/KYC Compliance

In compliance with Anti-Money Laundering regulations:

• All users must complete KYC (Know Your Customer) verification
• Transactions above ₨1 Crore may require enhanced due diligence
• Suspicious transactions will be reported to Financial Monitoring Unit (FMU)

9.3 Tax Compliance

Users acknowledge:

• Rice trading is subject to applicable taxes
• Users are responsible for their own tax compliance
• RiceBroker may report transactions to FBR as required
• Withholding tax may be deducted at source

9.4 Export Compliance

For export transactions:

• Users must comply with Rice Export Corporation guidelines
• Proper export licenses must be obtained
• REAP (Rice Exporters Association of Pakistan) membership may be required
• All export documentation must be authentic

For questions about these terms or to report issues: