Quotation Terms#

These terms govern the Request for Quotation (RFQ) process on the 7Net B2B marketplace.

1. Overview#

The 7Net quotation system enables buyers to:

Submit detailed Requests for Quotation (RFQs)
Receive competitive quotes from verified vendors
Compare offers and negotiate terms
Convert accepted quotations into orders

2. RFQ Submission#

When submitting an RFQ, buyers must provide:

Field	Required	Description
Product description	Yes	Detailed specifications of required goods
Quantity	Yes	Required units or volume
Delivery timeline	Yes	Desired delivery date or window
Budget range	Optional	Indicative budget to guide vendors
Quality standards	Optional	Required certifications or standards
Attachments	Optional	Drawings, specifications, samples

3. Quotation Validity#

All quotations are valid for 30 days unless otherwise specified by the vendor
Prices are subject to change after the validity period
Currency and tax terms must be clearly stated in each quote

4. Vendor Response#

Vendors who respond to RFQs agree to:

Provide accurate pricing
Honour quoted prices within the validity period
Deliver as per the committed schedule
Disclose any conditions or limitations

5. Acceptance and Order Conversion#

When a buyer accepts a quotation:

The quotation becomes a binding purchase agreement
Payment terms as stated in the quote apply
An order is automatically created in the system
Both parties receive confirmation notifications

6. Cancellation#

Buyers may cancel an RFQ at any time before accepting a quote
After acceptance, the Refund Policy applies
Vendors may withdraw a quote before it is accepted

7. Confidentiality#

All RFQ details and quotation responses are treated as confidential between the buyer and responding vendors. 7Net will not share this information with third parties.

8. Disputes#

Disputes arising from quotations should be escalated through:

Direct negotiation between buyer and vendor
7Net mediation service
Formal arbitration (if required)

Last updated: September 1, 2025