Dear, for the consequences of not addressing their queries, you need to see the liability clause or the specific clauses which demands you to fulfil or perform certain duty in a certain manner. And the consequence of such non performance may also be seen from the clauses of the contract. Only then would you be able to arrive at a decision about the other questions you have asked.
If we fail the agreement than what action can taken by ecom marketplace company
Hi, We are the seller of e_com market place company and the business model is all the stocks and investment by seller and e_com company role to connect the customer and if the deal is ok than customer buy the product and once the product delivered than e_ com company release our payout after debit his commission and delivery charges .and whatever commission they are debit provided the commission invoice against that. They dem care about stocks they are forecast for invontey planning but sole risk of seller only. Even Bill direct by seller name to customer and seller is liable to pay all the tax liability. Issue_ As per the agreement Seller agrees that at all times during the term of this Agreement, shall maintain appropriate records relating to transactions covered under this agreement and shall allow xxxx Ecommerce to examine, inspect, audit, and review all such records and any source document pertaining to the transaction covered under this Agreement upon written notice to Seller at least five (5) business days prior notice. Basis on above e_ com company ask to provide the below documents _Balance sheet _Bank statement _venfor master and details _trail balance _company identities doc _comany partner deed n identities proff _p& l This ammended by last 10days back and he is asking for last 2years Seller is working with so many companies how can show the above ? Is the write to ask these documents ? What reply we have to ? Don't want to do further business with them what to do immediately? What's legal can do by them about us if we fail to provide above demand to them ?
Asked 7 years ago in Business Law
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7 Answers
You can give them data related to there company.
See under agreement after amendment they can ask all the data in term of the agreement.
You can reply that they can seek documents and data related to there company and transaction done under this agreement.
You can send a notice for termination though agreement has to be terminated as per the terms in same.
They can terminate the agreement.
If you have agreed to share the details them you need to as per the agreement. You can cease activities and stop dealing with them if same is detrimental to them. If there is any penal clause in the Agreement then you will be liable for the same.
1) you have to furnish details as per agreement of all transactions covered under the agreement
2)you can stop carrying on business with the company
3) terminate agreement
4) if you fail to furnish details you can be sued for damages as it is breach of contract
Hi,
It is better to document and record every activity done by seller and produce the same as and when required. If that is not done, other party may sue for non performance of contract and damages suffered there of.
Dear Client,
Documents comes under non disclosure clause with other companies , so cannot be shared with. Terminate the agreement sitting this reason.
Suit of specific performance or arbitration.
The documents if asked to provide, then it becomes his duty to furnish the same.
He has to produce the documents of he particular company sought for.
They may say that they have rights in it.
You may wind up the business
They may approach court for the charges of cheating, breach of trust and embezzlement etc.
