Shipping and Payment Policy
The Payor and Payee agree to immediately notify The Index via Delivery Rejection or in other writing of any Epayment Dispute prior to the end of the Inspection Period. Upon The Index's actual receipt of such notice, The Index reserves the right to immediately hold any and all funds until the E-payment Dispute is resolved as provided herein. In the event that The Index exercises its right to hold the funds under this section, the Payor and Payee agree that The Index shall not be or become liable for damages, losses, costs, expenses, or interest to either Payor or Payee or to any other person for its failure to comply with conflicting or adverse demands.
Any E-payment Dispute shall be settled as follows: A) First, by participation of the parties in good faith negotiation, which will include representatives from each party authorized by such party to settle the controversy or claim. B) If the parties are unable to negotiate a mutually agreeable, binding resolution within fourteen (14) days of initiation of the E-payment Dispute, the parties agree to submit their dispute to The Index in writing not later than the fourteenth (14th) day after initiation of the E-payment Dispute. The Index may, at its sole discretion, elect to review any evidence, including, but not limited to, evidence in its possession or evidence that has been submitted by the Payor or Payee, and to reach a binding, final determination. The Index shall send written notification to both Payor and Payee indicating: i) whether The Index has elected to review the dispute, and ii) if so, its final decision on the merits of the E-payment Dispute. The Payor and Payee agree that The Index's determination shall be final, binding and conclusive and that its content and subject shall not be subject to appeal or collateral attack through any legal or other process. The Payor and Payee further agree that The Index shall bear no liability for any damages, losses, costs, expenses, or interests to either Payor or Payee or to any other person for the content of The Index's determination, including for The Index's determination to decline to reach a final decision on the merits of the E-payment Dispute. C) If the parties are unable to reach a negotiated, mutually agreeable, binding resolution, and The Index has declined to reach a final decision on the merits of the E-payment Dispute, the parties agree to settle the E-payment Dispute through binding arbitration. The arbitration shall be held before one (1) arbitrator and will be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures. Payor and Payee hereby agree that any arbitration arising from the E-payment Dispute shall be conducted in accordance with the expedited procedures set forth in the JAMS Comprehensive Arbitration Rules and Procedures, including rules 16.1 and 16.2. The Payor and Payee agree that any party, or non-party witness, may participate telephonically in any arbitration hearing. Judgment on the arbitration award may be entered in any court having jurisdiction. This provision shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. Any such controversy, conflict or claim shall be arbitrated on an individual basis, and shall not be consolidated in any arbitration with any claim or controversy of any other party. The Payor or Payee must provide to The Index evidence of intent to file a binding arbitration petition not later than fourteen (14) days after the Payor and Payee receive notice of The Index's determination, or the E-payment Dispute will terminate. Upon termination of the E-payment Dispute, subject to the Payor returning the Commercial Item goods to the Payee and The Index receiving confirmation by Delivery Confirmation, or The Index otherwise receiving written approval from the Payee, The Index may release the Payment Amount to the Payor. The Payor and Payee further agree that, in the event that The Index does not receive Delivery Confirmation or other notice of approval in writing from the Payee within seven (7) days after termination of the E-payment Dispute, The Index may release the Payment Amount to the Payee.