China Merchant Agreement

1.3. The Buyer`s payment obligation to the Merchant shall be deemed to have been fulfilled upon receipt of the Buyer`s payment to Joom (or its payment service provider, as applicable), and Joom (if applicable through its payment service provider) shall be responsible for transferring the funds to merchants in the manner described in the agreement concluded by Joom and the Merchant with the Payment Service Provider. If Joom (through the payment service provider) does not pay these sums to the merchant, the merchant only uses Joom (its payment service provider, if any) and not directly to the buyer. Please note that if there is any case of non-compliance or risk of non-compliance by you with the provisions of this Agreement, other terms, policies and platform rules of the Site, Joom reserves the right to withhold payments to the Reseller for a certain period of time. In this case, Joom will inform the merchant of the period of cessation of payment. As part of the deal, China Merchants will sell to Fujian TMSR 23.5% of the shares of its 100% subsidiary Gainpro Resources, which owns 85% of the shares in Hambantota International Port Group (HIPG). Security: PCI-DSS security channel for your reseller`s data. In addition, you are responsible for paying all taxes incurred for the sale of items that you make on the Site (with the exception of taxes on Joom`s net income). Please note that you may need to register for tax purposes in another country in accordance with the laws and regulations in force in that country. If this is the case, you agree to comply with all applicable requirements of such other country and are fully responsible for such compliance, including all consequences of infringements resulting from non-compliance with applicable laws and regulations.

If Joom is held responsible for your failure to comply with these requirements (i.e. for failure to register for VAT purposes in customer`s country and/or for non-payment of applicable taxes), agree to release Joom from any and all claims, liability, costs, damages or other obligations arising from your violation of applicable laws and regulations and agree to reimburse Joom for all fees, charges and penalties upon receipt of such request from Joom. Joom reserves the right to calculate such fees, charges and penalties from the amounts payable to you for items sold on the Site in accordance with this Agreement. in the event of non-delivery (within the delivery time made available to users by or in accordance with the joom terms) or in the event of deterioration of the items shipped by Joom Logistics according to the RM method (as an RM method, defined in the Joom Logistics Shipment & Delivery Terms under merchant.joom.com/jl-terms/ and in the rules of the platform, Joom will compensate the distributor for such non-delivery as follows: China Merchants Port Holdings has entered into an agreement with Fujian Transportation Maritime Silk Road Investment and Management (Fujian TMSR), a subsidiary of Fujian Provincial Communication Transportation Group (FJCT), to transfer part of its share of Hambantota Port in Sri Lanka. . . .

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