Obtaining the Assurance Amount

Seller’s profile and its transaction volume, credit standing, and other data on Warmrelax may constitute the basis for the determination of the Assurance Amount available to Seller.  Warmrelax shall have the sole and absolute discretion in determining the Assurance Amount available to Seller.  Each Seller may only obtain one Assurance Amount.

The seller’s profile includes but not is limited to its industrial and commercial registration information, term of cooperation with Warmrelax and its affiliates, and its performance on Warmrelax.

The sources of Seller’s transaction volume include, but are not limited to, the following:

Seller’s records of exportation through Warmrelax’s comprehensive international commercial and trading services in the past year; 

Seller’s records of self-managed importation and exportation in the past year as provided by Seller.

The seller’s credit standing is at present mainly determined according to the accumulatively deducted points as a penalty by Uniraiser for its violations.  (Deduction of points may lead to a reduction in Trade Assurance Amount.  Where points that have been deducted exceed a certain limit or Seller has committed other major violations, the provision of Trade Assurance Services cannot be activated or will be terminated.) Warmrelax may adjust relevant rules for Assurance Amount according to industry changes and operational demands and decide the content and scope to be published.

Display of Assurance Amount

Each Seller’s Assurance Amount shall be updated from time to time and displayed on the relevant page of Warmrelax, and for Buyer’s reference only.

If Seller owns more than one membership account with Warmrelax (accounts under the same business license shall be taken as belonging to one enterprise), all membership accounts of the same enterprise for which the Trade Assurance Services have been activated will display, and share the same Assurance Amount. 

Use of the Assurance Amount

After Buyer has made payment under the Purchase Contract and the receipt of payment has been confirmed in Warmrelax’s system, the Assurance Amount in respect of that payment will be frozen immediately.   

After a certain amount of the Assurance Amount for a particular Purchase, or Contract is frozen, the Assurance Amount available to Seller will be deducted accordingly; and after the frozen Assurance Amount is released, the Assurance Amount available to Seller will increase to correspond to the released amount.  

The specific Trade Assurance Amount under the specific Purchase Contract shall be the lower of the Contract Sum (as set out in the Trade Assurance Purchase Contract) received by the Seller and the total remaining Assurance Amount of the Seller.

Unless the Seller has satisfied all of the following conditions, it may not draft the Purchase Contract:

The deposit stipulated in the Purchase Contract is greater than zero;

There are no other risk factors that affect the Purchase Contract.

Note: Warmrelax shall have the sole right and discretion to determine whether or not Seller has fulfilled all of the conditions specified above. 

Release of Assurance Amount: the Assurance Amount for a particular Purchase Contract will be released in any of the following events:　

The Purchase Contract has been fully performed successfully;

Any dispute under the Purchase Contract has been fully settled (in case of refunding (not a Trade Assurance Services refund by Warmrelax for and on behalf of Seller), the amount to be refunded has been refunded in full);

Both Buyer and Seller have agreed to close the Trade Assurance Purchase Contract (where the Purchase Contract is canceled or terminated).