Last updated: April 4, 2025
This Merchant Agreement ("Agreement") is entered into by and between LAM Technologies Private Limited, operating under the brand Forespeed, a company registered under the Companies Act, 2013, with its registered office at [Your Address], India (hereinafter referred to as "Forespeed" or "Company"), and the entity agreeing to these terms ("Merchant" or "User").
This Agreement sets forth the terms and conditions under which the Merchant will use Forespeed Platform and associated services ("Services"). By registering or clicking on "Create Account" the Merchant agrees to be bound by this Agreement.
1.1 "Confidential Information" refers to any business, financial, or operational data shared between the parties.
1.2 "Force Majeure Event" includes unforeseen events like natural disasters, war, strikes, or regulatory changes.
1.3 "Intellectual Property" covers trademarks, copyrights, patents, and any proprietary content.
1.4 "Services" refer to the logistics and shipping solutions provided by Forespeed.
2.1 The Merchant is responsible for maintaining accurate business details and will ensure the correctness of all information provided.
2.2 The Merchant agrees to use the platform solely for lawful transactions related to shipping and logistics.
2.3 The Merchant shall not share login credentials or allow multiple users to access the same account. Any misuse will be the Merchant's responsibility.
2.4 Forespeed retains the right to approve or deny access to its platform at its sole discretion.
3.1 The Merchant agrees to pay Forespeed all applicable service fees, which are subject to revision.
3.2 Fees for services will be displayed on the Merchant dashboard and may be updated by Forespeed without prior notice.
3.3 COD remittances will be settled within 7 days from the delivery date, subject to successful reconciliation.
3.4 In case of invoice non-payment beyond the due date, Forespeed reserves the right to retain collected COD amounts or suspend services.
3.5 Any negative balance in the Merchant's account due to weight discrepancies or penalties will be adjusted from the next COD remittance.
3.6 Forespeed reserves the right to introduce additional fees for new services or modifications to existing pricing structures.
4.1 Forespeed will not be responsible for any delay or failure caused by external logistics partners or force majeure events.
4.2 The maximum liability per shipment for damage/loss during transit shall be Rs. 2,500 or the invoice value, whichever is lower.
4.3 Claims for damage, pilferage, or tampering must be raised within 48 hours of delivery, supported by necessary documentation.
4.4 The Merchant shall indemnify Forespeed against legal claims arising from misrepresentation, fraud, or breach of compliance by the Merchant.
5.1 The Merchant shall ensure accurate labeling and secure packaging of shipments.
5.2 Forespeed reserves the right to reject shipments that do not meet safety or compliance standards.
5.3 The Merchant shall not use unauthorized shipping labels or alter tracking details once generated.
5.4 Delivery timelines are estimated and may vary due to unforeseen circumstances.
6.1 If the end customer rejects or refuses delivery, the shipment will be returned to the Merchant at the standard RTO shipping cost.
6.2 If the Merchant refuses to accept an RTO shipment, Forespeed will store it for 7 days before initiating disposal.
6.3 Reverse pickups requested by the Merchant will be chargeable at standard rates.
6.4 Merchants must provide the correct return address and accept returned shipments in the same condition they were dispatched.
7.1 The Merchant shall not ship hazardous, illegal, counterfeit, or perishable items without prior written approval.
7.2 Forespeed holds the right to seize and dispose of any shipment found to contain restricted items and impose a penalty of Rs. 50,000 per violation.
8.1 Both parties agree to maintain the confidentiality of business and customer data shared during the course of service usage.
8.2 Any technology, software, or branding provided by Forespeed remains its exclusive property.
8.3 The Merchant shall not disclose trade secrets or use Forespeed's branding for personal gain without prior consent.
9.1 This Agreement is valid until terminated by either party with 30 days' written notice.
9.2 Forespeed reserves the right to terminate the Merchant's access immediately if:
9.3 Termination of services does not relieve the Merchant from outstanding financial obligations.
10.1 This Agreement is governed by the laws of India, and disputes shall be subject to the jurisdiction of Delhi courts.
10.2 Any dispute shall first be resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996, before pursuing legal action.
10.3 The arbitration proceedings shall be held in Delhi, and decisions shall be binding on both parties.
11.1 Neither party shall be liable for delays or failure to perform obligations due to unforeseen events beyond their control.
11.2 If such events persist beyond 60 days, either party may terminate the Agreement with written notice.
12.1 The Merchant agrees not to solicit or engage directly with Forespeed's logistics partners.
By using Forespeed's services, the Merchant agrees to comply with the above terms. Forespeed reserves the right to amend this Agreement at any time, with notice provided on the Merchant dashboard or via email.
Contact Information:
For queries, contact us at: support@forespeed.com
Authorized Signatory
For LAM Technologies Private Limited (Forespeed)
Date: 16/03/2025
Place: New Delhi