Term and Conditions of Use
Chapter 1. General Provisions
Article 1 (Purpose)
The purpose of these Terms and Conditions of Use of Shopping Services of Foreign Mart (the “T&C”) is to set forth the rights, obligations and responsibilities of the parties using the ecommerce-related services and other services (collectively “Services”) provided by Coreative (the “Company”) through the “Foreign Mart” internet open market site (www.foreignmart.co.kr) (“Foreign Mart”) operated by the Company.
Article 2 (Disclosure, Validity and Amendment of the T&C)
- The Company will disclose the T&C on the initial landing page or connecting page of Foreign Mart to help Members to check the T&C, together with the name, place of business, the name of representative(s), business registration number and contact numbers (telephone and facsimile numbers, email address, etc.) of the Company.
- The Company may amend the T&C to the extent permitted by the Regulation of Standardized Contracts Act, the Framework Act on Electronic Documents and Transactions, the Digital Signature Act, the Act concerning Promotion of Utilization of Information and Communications Networks and Protection of Information, etc., the Protection of Consumers in e-commerce and Other Transactions Act (“e-Commerce Act”), and the Electronic Financial Transactions Act, and any other applicable laws.
- If any terms of the T&C are amended by the Company, all amended terms shall be effective 14 days after they are initially posted on the initial landing page of Foreign Mart, together with the then current T&C, the effective date of and the reasons for the amendment, all of which will be posted for a 14-day period until the date immediately preceding the effective date.
Article 3 (Definitions)
- Capitalized terms used herein shall have the following meaning:
1) “Member” means a natural or juridical person that has provided personal information to registered with Foreign Mart as a member, as classified as follows:
i) General Member (Buyer): an individual of 14 full years old or older, or a company, each entitled to use shopping services provided by the Company
2) “Member ID” means a combination of letters and numbers chosen by a Member, approved by and registered with the Company, for purposes of identification and use of the Services.
3) “Password” means a combination of letters and numbers chosen and registered with the Company by a Member, to verify the Member’s identity and protect the Member’s rights, interests and confidential information.
4) “Operator” means the person appointed by the Company to be responsible for overall management and smooth operation of the Services provided by the Company.
5) “Escrow Service” means the service of placing the purchase price for the product in escrow for certain period of time to protect the purchaser’s payment.
6) “Safe Trade Center” means an organization to mediate any and all issues and problems that may arise in relation to the safety of transactions while using the Services of the Company.
7) “Dispute Mediation Center” means an organization formed and operated by the Company for the reasonable and smooth mediation of disputes in exceptional cases only, whereas, as a general rule, any dispute arising from a transaction through the Company should be resolved by the Foreign Mart and Buyer themselves.
9) “Item Discount” means a discount for an item that a Foreign Mart sells on a discounted price that is within the service fees. The Company will list the discounted price of applicable items on the relevant webpage serviced by the Company.
10) “Buyer Coupon” means a cyber coupon (for use exclusively in a transaction with the Company) specifying the discounted amount or percentage that a Member can use to purchase products through the Company’s Services.
- Any terms not defined in Section 2.1 above shall have the meanings ascribed in the general commercial practices.
Article 4 (Types of the Services)
- The Company will provide the following Services:
1) Services relating to the development and operation of an e-commerce platform:
i) Sales-related support;
ii) Purchase-related support;
iii) Contract execution related services;
iv) Product information search services; and
v) Other e-commerce related services; and
2) Services for the execution of advertisement and promotion
- The purposes of the above Services provided by the Company are to allow Members’ use of cybermalls, and to intermediate mail-order sales, in relation to their transactions of goods and services.
Chapter 2. User Agreement and Data Protection
Article 5 (Formation of a Shopping Service User Agreement)
- The Shopping Service User Agreement (the “User Agreement”) shall be formed upon the Company’s acceptance of an application for the use of shopping services, from a person who intends to use the shopping services provided by the Company. The Company will notify its intent to accept the application by disclosure of such intent on the relevant webpage for the Services or by email or otherwise.
- A person who intends to use the shopping services shall agree to the T&C and enter necessary information in the form application for membership as provided by the Company.
- A person of 14 full years old or older or a business operator (whether a natural or juridical person) is eligible to the membership to the Services. An applicant shall apply for the membership in his/her/its real name. If anyone applies for the membership in a name other than his/her/its real name or by misappropriating another’s information, such applicant may be restricted from using the Services or penalized pursuant to applicable laws and regulations.
- Applications will be handled on the first-come-first-served basis, and admission to the membership will become effective at the time when the acceptance by the Company is received by the Member.
- The Company may withhold or refuse its acceptance of an application in any of the following cases:
1) if in the Company’s real-name verification process, it is found that the application is not made in real name;
2) if the name and resident (or business) registration number in the application are the same as those of an existing Member;
3) if reapplied within two ( 2) months from the Company’s termination of the User Agreement;
4) if reapplied by a Member that is subject to the membership suspension or other action by the Company, during the suspension or other applicable period;
5) if the facilities/equipment cannot afford or if there is technical difficulty; and
6) if the application is found to be unlawful, unfair or in violation of the T&C, or if it is deemed necessary to do so in the Company’s reasonable judgment.
Article 6 (Change and Protection of Personal Information)
- A Member may not provide false information when applying for the membership, and in the event of any change in the information provided when applying for the membership, the Member must immediately update the information. As a general rule, a Member’s name, ID and resident registration number and the like may not be changed, unless permitted by applicable laws and regulations.
- Notification to the Member by the Company shall be considered complete when the notice is delivered to the address or e-mail address provided by the Member. Any damages arising out of the failure to update information must be borne solely by the relevant Member, and the Company shall not be held liable for any such damages.
- The Company will not use any information provided by the Member for the execution of a User Agreement, for any purpose other than its operation of the Services as consented to by the Member If a new purpose of use arises or for the disclosure of the information to a third party, the Company shall notify the purpose(s) of use or disclosure of the Member’s information (as the case may be) and obtain separate consent from the Member in the phase of the use or disclosure of the Member’s information; provided, however, this shall not be the case if prescribed otherwise by applicable laws and regulations.
- The Company shall not pre-check the consent box for the collection, use, and provision of personal information as a default. The Company shall also enumerate the services that will be limited to the Member should the Member refuse to consent to the collection, use and provision of personal information, and the Company shall not limit or refuse to provide membership service to any Member who wishes to use the shopping services on the account of the Member refusing to provide consent to the disclosure of any non-essential personal information.
Article 7 (Control over ID and Passwords)
- Each Member shall be responsible for the control over his/her/its ID and Password, and may in no event assign or lend any of them to a third party.
- Each Member and each user shall take the responsibility for any and all damages and losses arising out of the leak, assignment or lending of a Member’s ID or Password, that occurs due to a cause that is not attributable to the Company.
- If a Member becomes aware of the theft, or unauthorized use by a third party, of his/her/its ID or Password, the Member shall immediately notify the Company thereof and the Company shall exert its best efforts to handle the situation promptly.
Article 8 (Termination of the User Agreement)
- Termination by members:
1) A Member may terminate the User Agreement at any time by notifying the Company of the Member’s intent to terminate it through the applicable service webpage; provided that the Member has taken necessary actions to consummate any and all transactions at least seven (7) days prior to the date of the termination notice.
2) A Member shall be solely responsible for any consequences arising out of a termination notice sent within the said period, and upon termination of the User Agreement, the Company may withdraw all benefits additionally granted to the Member by the Company.
3) If a Member who has terminated the User Agreement intends to use the Services later again, the Member’s use of the Services will not be permitted unless the Member notifies the Company of his/her/its new intent to use the Services and the Company accepts the offer.
- Termination by the Company:
1) The Company may terminate the User Agreement in the event of occurrence or finding of the following:
- i) violation of, infringement upon or damage to the rights, reputation, credit or any other interest of any other Member or third party, or breach of Korean laws/regulations or public order and good morals;
- ii) obstruction of or any try to impede the proper processing of the Services provided by the Company;
iii) finding that there is a reason for refusal under Section 7.5 hereof; or
- iv) circumstances in which the Company finds it necessary, in its reasonable judgment, to refuse the provision of the Services.
2) If the Company terminates the User Agreement with a Member, the Company will notify the Member of its intent of termination by disclosing the reason(s) for termination by e-mail, by phone or otherwise. The User Agreement shall be terminated at the time when the Company notifies the Member of its intent of termination.
3) Even if the Company terminates the User Agreement, these T&C shall continue to apply with respect to the consummation of a sale and purchase contract entered into on or before the termination.
4) When the User Agreement is terminated pursuant to this Article, the Company may withdraw all benefits additionally granted to the Member by the Company.
5) If the User Agreement is terminated pursuant to this Section, the Company may refuse to accept the Members’ re-application.
Article 9 (Term and Suspension of Provision of the Services)
- The term of the provision of the Services will begin from the date on which use of the Services are applied for, and ends on the date of termination of the User Agreement.
- The Company may suspend its provision of the Services temporarily upon the occurrence of a justifiable event, including without limitation, the maintenance, repair, examination, replacement of information and communications facilities (such as computers), or if such facilities are out of order; provided that the fact and reasons for temporary suspension of the Services shall be notified on the initial landing page of Foreign Mart.
- The Company may restrict or temporarily suspend its provision of the Services if it is unable to provide the Services due to an act of God or a force majeure event equivalent thereto.
Article 10 (Service Usage Fees)
The Company may provide various services needed for the freedom of e-commerce between the Members and charge certain fees therefor (i.e., service usage fees) pursuant to its internal policies.
Chapter 3. Use of Shopping Services of Foreign Mart
Article 11 (Execution of Contracts and Payment of Purchase Prices)
- A sale and purchase contract will be executed by a Member offering to purchase a given item on the terms and conditions of sales suggested by Foreign Mart’s acceptance of the Buyer’s offer.
- The Company will provide methods for payment of the purchase price in bank transaction.
- The Buyer will enter information relating to the payment of the purchase price at his/her/its own responsibility, and shall solely take any and all liabilities and disadvantages arising out of the information entered by the Buyer in relation to the payment of the purchase price.
- The Company may cancel a transaction without the consent of any Member, if the purchase price is not paid within a certain time period after the order is placed.
- The Company will take measures to allow the Buyer to check the contents of the executed sale and purchase contract on the webpage of “My Account > Order,” and will provide guidance on how to cancel the contract and the relevant procedures.
- The Company may check whether the Buyer is lawfully entitled to use the payment means used when paying the purchase price. The Company may suspend the transaction until the completion of confirmation of the buyer’s right to such use, or cancel the transaction if it is impossible to obtain such confirmation.
- The amount actually paid by the Buyer shall be an amount (actual purchase price) remaining after applying to the original price (set by Foreign Mart), any basic usage fees, discount coupons applicable to the particular item, delivery fees, details of an option (in the case of an option item) and so on.
The proof of purchase (i.e. bank account transfer receipts, tax invoices, etc.) will be issued to show the amount of the actual purchase price.
Article 12 (Delivery)
- A delivery period shall begin on the date following the date on which receipt or settlement of payment is confirmed and end on the date of completion of delivery.
- The Company will take measures necessary for delivery within three (3) business days from the receipt of the Company’s notice to confirm the receipt of or settlement of payment by the Buyer.
- Days during which delivery is impracticable due to a force majeure event or otherwise shall not be counted as part of a delivery period.
- As a general rule, any dispute arising among the Buyer, a delivery service provider, a financial institution, etc. in relation to the delivery, shall be resolved by the relevant parties, and the Company shall in no way take any responsibility.
- If a status update concerning delivery is delayed due to the Buyer’s failure to confirm his/her/its receipt after the Foreing Mart has properly confirmed shipping on its part, the Company may ask the Buyer to confirm the Buyer’s receipt within two (2) weeks from the date of Foreign Mart’s confirmation of shipping. If, thereafter, despite of the Company’s asking, the Buyer does not confirm his/her/its receipt, the status of the transaction may be automatically converted to “completion of delivery” as at the passage of three (3) days, and in such case, if the Buyer has not actually receive the product, then the Buyer may report non-receipt.
Article 13 (Cancellation)
- A Member may cancel an order of purchase at any time prior to handed to shipping service of the purchased items, and if cancellation is requested during the delivery, it will be handled pursuant to the procedures for return of purchased goods.
- If an application for cancellation is received after a Member’s completion of payment and while shipping is arranged or pending shipping, the cancellation of the order will be immediately processed, absent special circumstances.
- In the case of cancellation of an order when the order is ready for shipping, if the purchased items have already been shipped at the time the cancellation application is received, as a general rule, the Buyer shall bear the fees for both delivery and return of the shipped items, and such procedures shall follow the procedures for return of purchased goods rather than the procedure for cancellation of purchased goods.
- As for any refund following duly processed cancellation, payment via Bank account transfer will be refunded to the relevant Member’s given Cash account as a cash balance within three (3) business days.
Article 14 (Return)
- A Member may demand a return (“Return”) of the Foreign Mart’s items from the time such items are shipped by the Foreign Mart until three (3) days after receipt of the delivery pursuant to applicable laws and regulations.
- The e-Commerce Act will prevail over the terms and conditions of sales suggested by the Seller, as for general terms and conditions on the Return.
- As a general rule, costs and expenses incurred for the Return (“Return Costs”) shall be borne by a person to whom the reason for the Return is attributable — e.g., in the case of simple change of Buyer’s mind, the Buyer shall bear the Return Costs, while in the case of a defect in the purchased items, the Foreign Mart shall bear the Return Costs.
- When applying for the Return, if the Buyer does not set out the return invoice number or accurately notify (orally or in writing) Foreign Mart of the reason(s) for the Return, the Return and refund process may be delayed.
- As for the refund following the Return, after the returned item is received by Foreign Mart and after the reasons for the Return and who to bear the costs and expenses for the delivery and Return Costs are confirmed, payment in cash will be refunded to the relevant Member’s designated bank account as a cash balance within three (3) business days.
- In case the Buyer has to bear the Return Costs, if the additional payment of the Return Costs is not made, the refund may be delayed.
Article 15 (Exchange)
- A Member may demand an exchange of Foreign Mart’s items from the time such items are shipped by Foreign Mart until three (3) days after receipt of the delivery pursuant to applicable laws and regulations.
- Even if an exchange is requested, an exchange may not be possible if Foreign Mart has no stock for the exchange, and in such case, the request will be processed as a Return.
- Costs and expenses incurred for the exchange (e.g., costs for delivery to and from Foreign Mart) shall be borne by the Foreign Mart in the case of defect in the purchased items, and shall be borne by the Buyer in the case of simple change of mind.
Article 16 (Refund)
- In the case of a return or exchange due to a defect in the purchased items, the Company will have payment in cash refunded to the relevant Member’s bank cash account as a cash balance within three (3) business days after Foreign Mart receives delivered items back.
- If a Member mayn’t request to receive refunds in cash using another bank account rather than his/her/its initial bank account and withdraw funds from such account.
Article 17 (Exceptions to Return, Exchange or Refund)
In the any of the following cases, the Buyer shall not demand a Return, exchange or refund:
1) if the item is lost, destroyed or damaged due to a cause attributable to the Buyer;
2) if the value of the item has notably decreased due to use or partial consumption by the Buyer;
3) if the value of the item has notably decreased due to the passage of time so as to make its resale difficult; or
4) if the item is specially ordered and the Buyer consented in writing (electronic consent included) that, as such, returning the item will likely cause irreparable damage to Foreign Mart.
Article 18 (Escrow Services)
- In the pre-paid mail-order sales, the Company will seek safety of transactions for the Buyer by placing in escrow the payment of a purchase price from the Buyer and delivering the payment to the Foreign Mart after the completion of delivery.
- The Company will request the Buyer to notify the Company of the receipt of the purchased items within three (3) business days from the receipt of such items (“Delivery Completion Date”).
- However, if the Buyer notifies the Company of his/her intent to cancel, return, or exchange the item before the Company has handed to delivery service, then the Company shall withhold the amount until further notice.
Chapter 4. Use of Additional Services of Foreign Mart
Article 19 (FM Point)
- The Company may grant certain FM Points to a Member if the Member purchases products on Foreign Mart or Mobile Foreign Mart, prepares product review, confirms delivery, or converts Business Partner Points; provided that if purchase of products is cancelled or the purchased items are returned, corresponding FM Points granted by the Company at the time of purchase will be withdrawn.
- FM Points, if granted, will remain valid for two (2) years from the date of the grant, unless otherwise prescribed by the Company (in which case the FM Points will remain valid for the otherwise prescribed term). FM Points will automatically lapse upon the expiry of the valid term.
- FM Points will be granted and used in Internet Open Market website (http://www.foreignmart.co.kr) that the Company operates.
- FM Points cannot be withdrawn from the account as cash. FM Points, unless as prescribed otherwise by the Company, cannot be transferred to another party or used for illegal purposes. In the event FM Points are transferred to another party or used for an illegal purpose in violation of the Company’s policy, the Company may withdraw the FM Points or suspend the Member’s membership after notifying the Member in advance (or if advance notification is not possible, immediately afterwards) of the Company’s reasons for doing so.
Article 20 (Discount Coupon)
- The Company or Foreign Mart may issue discount coupons under which a Member using the shopping services may get discount at a certain rate or in a certain amount when the Member makes a purchase. Discount coupons refer to all item discounts.
- The Member shall use discount coupons for the Member’s own purchase only, and shall in no event sell or transfer any of them in substance to another; provided that the Company may allow transfer of discount coupons on certain terms and conditions of transfer as prescribed by the Company, in which case the Member may transfer them on such terms and conditions only.
- Use of discount coupons may be subject to limitations depending on the item or price of goods or services. No discount coupon may be used after the expiry of its valid term.
- If the purchased items are returned or if the purchase is cancelled, after any discount coupon is used in relation to the underlying purchase, as a general rule, a used discount coupon may be reused; provided that reuse may be impossible in certain cases prescribed by the Company’s internal rules, such as, cancellation of a purchase due to simple change of mind, etc.
Article 21 (International Delivery Services)
The Company and Foreign Mart don’t support international delivery at the moment.
Article 22 (Regular Customers)
Foreign Mart may by email send advertisements, coupons and the like to Members who are registered as regular customers of Foreign Mart, and any such Member may refuse to receive them if they do not want to; provided that the names, email addresses and contact numbers of Members who are registered as regular customers of a Mini-Shop of a Seller may be provided to the Seller to be used for the management of events hosted by the Seller.
Chapter 5. Management and Protection of Users
Article 23 (Management of Users)
1) withdrawal of benefits (in part or in whole) provided by the Company additionally;
2) restriction upon the use of certain services;
3) termination of a User Agreement; and
4) bringing a claim for damages.
- If the Company intends to take any action provided in the foregoing section against a Member, the Company must in advance notify the Member thereof by phone or by email, and if inevitable (such as, if it is impossible to reach such Member or in an emergency situation), the Company may notify the Member after taking the action.
- A Member may raise an objection to the action (to be) taken by the Company hereunder, if the Member has a reason for such objection.
Article 24 (Management of User’s Credit Rating)
- The Company may ascribe a certain credit rating to the Member, based on the amount, number and frequency of the Member’s purchase and other performance records and the like, and grant certain benefits depending on the respective credit ratings.
- The Company may disclose any and all terms and conditions of the credit ratings ascribed to the Members and respective benefits granted by the Company, and any amendment to such terms and conditions on a separate webpage serviced by it.
Article 25 (Liability for Copyright Infringement)
- The Company has established and enforces a policy to protect the copyrights of copyright owners in connection with the provision of the Services, and Members must comply with the copyright policy of the Company.
- Copyright to various content posted on Foreign Mart (whether in its shopping page, product review, Q&A or otherwise) shall vest in the Member who prepared/posted using the shopping services provided by the Company, and if any such content infringes upon copyright of any other person, the Member shall be liable therefor.
- If a Member’s copyright is infringed on Foreign Mart or Mobile Foreign Mart, the Member may protect his/her/its lawful right through the copyright infringement report center operated by the Company.
- The Company may without prior notice remove any content posted on Foreign Mart or take any action (such as, placing restrictions on the use of certain services, termination of a User Agreement, etc.) against the person who posted the content, in the following case, provided, however, unless the content falls under any of the following cases, the Company shall not remove the content based solely on the reason that it includes information disadvantageous to Foreign Mart, such as dissatisfaction with the purchased item:
1) if the laws and regulations of Korea are violated;
2) if an illegal product, or obscene content, of which sales are prohibited under applicable laws and regulations, is posted or advertised;
3) if any untrue or exaggerated statement for advertisement are included in the content;
4) if other’s rights, reputation, credit or other lawful interests are infringed or violated;
5) if a link inducing to a direct dealing (i.e., deviating Foreign Mart) or to another website is posted;
6) if any malignant code or data are included in the content;
7) if it is against the social or public order in the society or against good morals and traditional customs;
8) if it is found impeding smooth operation of Foreign Mart or Mobile Foreign Mart services provided by the Company;
9) if it contains content related to criminal acts; or
10) if it contains content that instigates political or economic disputes.
- Any content posted on the Foreign Mart (whether in its shopping page, product review, Q&A or otherwise) and prepared by a Member may be reproduced, distributed, transmitted or exhibited on other websites partnering with the Company for the purposes of promotion, advertisement of any products transacted on the Foreign Mart, and may be revised or edited to the extent not changing the essential substance thereof.
Article 26 (Good Market Declaration Program)
- The Company has established and enforces the “Good Market Declaration Program” consisting of the following, to declare fair and safe transactions in relation to the use of the Services of the Company:
1) Ethical Management Center;
2) Fair Trade Center;
3) Rights Infringement Report Center;
4) Safe Trade Center;
5) Personal Information Protection Center;
6) Minor Protection Center; and
7) Brand Protection Program.
- The Company will set the procedures under which Members and lawful right-owners may report and resolve problems through Good Market Declaration Program, in order to establish sound and transparent order of e-commerce.
- Members shall with sincerity respond to the mediation through the Safe Trade Center under the principle of good faith and sincerity.
Article 27 (Customer Center)
- The Company will operate the Customer Center for addressing customer concerns and resolution by mediation of a dispute between Members, or between a Member and a third party.
- If the Company determines that the complaints and comments submitted by the Members are reasonable, then the Company shall address these concerns as soon as possible, by notifying the Members of the case progress within three (3) business days, and the results of its investigation and remedies within ten (10) business days.
- Members shall, with sincerity, respond to the mediation process through the Customer Center.
Article 28 (Prohibited Activities)
- System-related Misbehavior
1) No one may use the Services or access to the system in an unusual manner without utilizing the process and method provided by the Company for the use of Services is prohibited.
2) If any system-related misbehavior is found by the Company, the Company may cancel benefits (whether in part or in whole) additionally provided by the Company, placing restrictions on the offender’s use of certain services, terminate a User Agreement and take any other actions. If any damages arising out of the misbehavior, the Company may demand the offender to compensate for all such damages.
- Settlement-related Misbehavior
1) No one may use the shopping services provided by the Company in another’s name or with the information on another’s credit card, bank account, and the like.
2) No one may conduct unusual settlement in a manner prohibited by applicable laws (such as, the Specialized Credit Financial Business Act), e.g., lending or borrowing funds to or from another in the guide of sales of goods or provision of services. If any such misbehavior is found by the Company, the Company may terminate a User Agreement or suspend the transaction concerned and report it to the competent authority.
3) No one may conduct a purchase without any intent to actually make a purchase (e.g., where no delivery follows the purchase). If any such misbehavior is found by the Company, the Company may cancel the transactions concerned and impose sanctions depending on the circumstances.
- Other Prohibited Activities
1) No Member may conduct any activity that causes damages or losses to the Company and interferes the fostering of fair market environment, by entering into unusual multiple transactions by utilization of discount rates, and the like, provided by the Company. If any such misbehavior is found by the Company, the Company may cancel the transactions concerned and impose sanctions (including suspension of entering into any transaction) depending on the circumstances.
2) The Company may suspend a Member’s eligibility/membership or refuse or limit the provision of services in any of the following events and may take other necessary measures to ensure compliance with laws and regulations, protect the rights of third parties, secure the safety of the website, etc.
Chapter 6. Miscellaneous
Article 29 (Relationship between Rules to Comply and Applicable Laws and Regulations)
- Any matters not provided in the T&C shall be governed by e- Commerce Act, any other applicable laws and regulations, and general commercial practices.
- For transactions executed through the shopping service provided by the Company, e- Commerce Act and other applicable laws and regulations shall primarily apply to the parties to the transactions, and neither party may not claim release of its liabilities in reliance with the T&C.
- If necessary, the Company may set out separate terms that apply to specific services (“Individual Terms”) and post the Individual Terms on the Foreign Mart homepage or otherwise for advance notification.
- Member shall pay attention to any changes to the T&C and the Individual Terms, and when any amendment thereto is posted, Members shall review and check them.
Article 30 (Disclaimer)
- As a mail-order intermediary, the Company only provides a transaction system that is based on the Foreign Mart or Mobile Foreign Mart platform. Parties to a transaction shall be responsible in the event of any disputes arising in connection with any transaction using the Foreign Mart or Mobile Foreign Mart transaction system.
- Absent willful misconduct or gross negligence of the Company, the Company shall not be liable for any damages suffered by a Member or a third party due to temporary suspension of the Services pursuant to Section 11.2.
- If the Company restricts or suspends the Services pursuant to Section 11.3, the Company shall on grounds of a force majeure event be released from any liability for damages.
- The Company shall not be liable for any disruption or other interruption in the use of the Services that has arisen for a reason attributable to a Member.
- The Company shall in no event be liable for any damages whatsoever, arising from a Member’s disclosure or provision of the Member’s personal information to another.
- Transactions on Mobile Foreign Mart may not be conducted in real time. Transactions on Mobile Foreign Mart may be restricted or delayed due to issues with the wireless data service network, etc. used by the Member and the Member’s current location.
Article 31 (Jurisdiction)
Any dispute/lawsuit arising from or out of this agreement or user policy, or dispute between Members. to which the Company is a party, shall be submitted to the competent court having jurisdiction over the place where the head office of the Company is located.
Article 32 (Others)
- The Company may, if necessary, change or suspend certain Services (or part thereof) temporarily or permanently by providing advance notice on the homepage of its website.
- Neither the Company nor Members shall transfer any rights and obligations under the T&C to a third party without the express consent of the other party.
- All agreements, memoranda of understanding, notices and other instruments additionally executed between the parties and any and all notices to Members by the Company by posting on Foreign Mart pursuant to changes in the Company’s policies, enactment and amendment of laws and regulations, public announcements and guidelines of the authorities, and the like, shall constitute part of the T&C.
The T&C shall become effective as of May 1, 2017.