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Terms and Conditions

Effective Date: December 2024

1. Acceptance of Terms

Welcome to 24Rx Exchange. By accessing or using the digital marketplace, website, or services (the "Platform"), you ("User," "Trader," "Seller," or "Manufacturer") agree to be bound by these Terms and Conditions ("T&C" or "Agreement"). If you do not agree to these T&C, you must not use the Platform.

2. User Eligibility and Verification

A. Eligibility

The Platform is exclusively for licensed wholesalers, traders, and manufacturers operating in the pharmaceutical industry. Users must be legally competent to enter into contracts and possess all necessary, valid, and current drug licenses and regulatory approvals.

B. Mandatory Verification

All Users must successfully complete the 24Rx verification process, which includes submitting current Drug Licenses, tax documents (GST/TIN), and other required proofs. 24Rx reserves the right to suspend or terminate any account if the submitted documentation is deemed invalid, expired, or fraudulent.

C. Representation

By registering, you warrant that all information provided is true, accurate, and that you are authorized to bind the registered business entity to these T&C.

3. Marketplace Operations and Transactions

A. Listings and Pricing (For Sellers & Manufacturers)

  • •Accuracy of Listings: Sellers/Manufacturers must ensure that all listed stock (Medicine names, batch numbers, quantities, expiry dates) is accurately represented and physically available.
  • •Mandatory Proof: Sellers must upload valid Purchase/Batch Bills and Physical Stock Photos to prove availability and authenticity before a listing becomes active and tradable.
  • •Price Compliance: Sellers must quote prices in the 24Rx standardized format and adhere strictly to all permitted minimum rate guidelines set by applicable pharmaceutical regulations. 24Rx may delist non-compliant prices without notice.

B. Buying and Selling

  • •Binding Orders: A transaction is legally binding once a buyer places an order and the seller confirms the availability and price through the Platform.
  • •Minimum-Risk Trading: 24Rx facilitates the transaction through a secure process (e.g., escrow-like service) to ensure the seller ships upon payment confirmation and the buyer receives the verified product.
  • •Documentation: The Platform mandates that all transactions must be supported by proper, auditable documentation, including invoices generated compliant with tax and drug laws.

C. Logistics and Delivery

  • •Logistics Partner: Physical delivery is managed through 24Rx's streamlined logistics partner network.
  • •Holding Option: Users may elect to Hold purchased stock in their designated 24Rx inventory. Terms for holding, liability, and fees will be specified separately.
  • •Seller Responsibilities: Sellers must pack orders using official 24Rx labelling and have the stock ready for pickup by the designated logistics partner upon notification.

4. User Obligations and Conduct

A. Compliance

Users must strictly comply with all applicable central, state, and local laws, rules, and regulations governing the sale, purchase, storage, and distribution of pharmaceutical products.

B. Prohibited Activities

Users shall not use the Platform for any unlawful purpose, including the sale of counterfeit, misbranded, or prohibited drugs, price manipulation, or fraudulent transactions.

C. Account Security

Users are responsible for maintaining the confidentiality of their account credentials and for all activities that occur under their account.

5. Intellectual Property

All content on the Platform, including text, graphics, logos, and the 24Rx name/trademark, is the exclusive property of 24Rx Exchange or its licensors. Users are granted a limited, non-exclusive, revocable license to use the Platform solely for their wholesale pharmaceutical trading activities.

6. Disclaimer of Warranties and Limitation of Liability

A. No Endorsement

24Rx Exchange is a marketplace and does not manufacture, sell, or distribute the medicines listed. We do not endorse, warrant, or guarantee the quality, safety, or legality of the products listed by Sellers/Manufacturers.

B. Limitation of Liability

To the maximum extent permitted by law, 24Rx Exchange shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, arising from your use of the Platform or products purchased/sold thereon. 24Rx's liability is limited to the fees paid by the User for the specific transaction giving rise to the claim.

7. Indemnification

You agree to indemnify, defend, and hold harmless 24Rx Exchange, its affiliates, directors, and employees, from and against all losses, expenses, damages, and costs (including reasonable attorneys' fees) arising out of or related to your breach of these T&C, your non-compliance with pharmaceutical regulations, or your transactions conducted on the Platform.

8. Governing Law and Dispute Resolution

These T&C shall be governed by the laws of India. Any disputes arising out of or in connection with these T&C shall be subject to the exclusive jurisdiction of the courts located in Ranchi, Jharkhand.

9. Changes to Terms and Conditions

24Rx reserves the right to modify these T&C at any time. We will notify Users of material changes via email or a prominent notice on the Platform. Continued use of the Platform after such changes constitutes acceptance of the new T&C.

Questions about our Terms and Conditions? Contact us at support@24rx.com