1. Introduction
24Rx Exchange ("we," "us," or "our") is a digital marketplace designed exclusively for licensed wholesalers, traders, and manufacturers in the pharmaceutical industry. This Privacy Policy describes how we collect, use, process, and disclose information from users ("Users" or "you") who access or use our platform, including our website and services (collectively, the "Platform"). We are committed to protecting the privacy and security of the professional information you share with us.
2. Information We Collect
We primarily collect professional, corporate, and transactional information necessary to facilitate secure and compliant B2B pharmaceutical trade.
A. Information Provided by Users (Registration & Verification)
- •Identity & Contact Data: Company Name, Business Address, Contact Person's Name, Email Address, Phone Number, and GST/Tax Identification Numbers.
- •Licensing & Compliance Data: Drug License Numbers, valid copies of Drug Licenses, Manufacturer's Authorization Certificates, and other statutory compliance documents required for pharmaceutical trading.
- •Account Credentials: Encrypted passwords and login information.
B. Information for Transaction Facilitation (Sellers & Manufacturers)
- •Product Listing Data: Medicine names, strengths, pack sizes, stock quantities, list prices, and standardized quote prices.
- •Verification Data: Uploaded Purchase/Batch Bills, physical stock photos, and other proof of availability documentation.
- •Financial Data: Bank account details required for processing payments and settlements (strictly for transactional purposes).
C. Information Collected Automatically (Usage Data)
- •Transaction Records: Detailed records of all buy/sell orders, order status, logistics tracking, pricing history, and order management activities.
- •Market Activity Data: Watchlist data, real-time rate viewing activity, search history, and market trends analysis based on your usage.
- •Technical Data: IP address, browser type, device type, operating system, access times, and pages viewed.
3. How We Use Your Information
We use the collected information primarily to operate, maintain, and improve the 24Rx Exchange Platform and ensure regulatory compliance.
- •Platform Operation & Service Delivery: To register your account, verify your business licenses, process and fulfill transactions (buy/sell), manage logistics (holding/delivery), and provide customer support.
- •Compliance & Security: To verify the identity and legitimacy of all Users (as 100% verified buyers and sellers is a core promise), enforce minimum rate guidelines, validate stock availability (using proof documents), prevent fraudulent activities, and comply with legal or regulatory obligations.
- •Communication: To send transaction notifications, delivery updates, system alerts, and compliance reminders.
- •Market Insights: To provide Users with real-time market data, facilitate price tracking (watchlist), and develop aggregated, anonymized market intelligence reports.
- •Platform Improvement: To analyze usage patterns, troubleshoot issues, and enhance the features and functionality of the Platform.
4. Disclosure of Information
We only share information with third parties in the following limited and necessary circumstances:
- •Between Verified Users: To facilitate a specific transaction, we share necessary details (e.g., Company Name, Order ID, Product Details) between the verified buyer and the verified seller.
- •Logistics Partners: We share necessary delivery/pickup information (e.g., address, contact person, order details) with our streamlined logistics partners to fulfill physical delivery requests.
- •Service Providers: We engage third-party companies (e.g., payment processors, hosting providers) who assist us in operating the Platform. These providers are contractually obligated to protect the information.
- •Legal & Regulatory Compliance: If required by law, regulatory body, or court order, we will disclose information as mandated.
- •Business Transfers: In the event of a merger, acquisition, or sale of assets, User information may be transferred as part of the transaction, subject to the new entity adhering to this policy.
5. Data Security
We implement robust technical and organizational measures to protect your professional data from unauthorized access, disclosure, alteration, or destruction. This includes data encryption, secure server hosting, multi-factor authentication for sensitive accounts, and strict access control procedures.
6. Data Retention
We retain your information for as long as your account is active and for a legally mandated period thereafter to comply with regulatory requirements (e.g., pharmaceutical transaction record-keeping, financial reporting, license documentation).
7. Your Rights
As a User, you have the right to:
- •Access and review the data we hold about your company.
- •Request correction of inaccurate or incomplete data.
- •Request deletion of your account data, subject to our compliance and legal obligations to retain transaction and verification records.
8. Changes to this Privacy Policy
We may update this policy periodically to reflect changes in our practices or legal requirements. We will notify registered Users of any material changes via email or prominent notice on the Platform.