Terms of Service
Last updated: March 3, 2026
Effective: March 3, 2026
1. Introduction
These Terms of Service (“Terms”) constitute a legally binding agreement between you (“User”, “you”) and Opendepot (“we”, “us”, “Platform”).
By creating an account or using the Platform, you agree to these Terms.
If you do not agree, you must not use the Platform.
2. Nature of the Platform
Opendepot is a B2B deal-matching platform that enables registered businesses to participate in structured bulk inventory transactions.
Opendepot:
- Does not own inventory listed on the Platform
- Does not act as buyer or seller
- Does not take title to goods
- Does not provide regulated financial services
Opendepot structures transactions between independent Buyers and Sellers.
3. Eligibility
3.1 The Platform is intended exclusively for business-to-business transactions.
3.2 By registering, you confirm that:
- You are acting on behalf of a legally registered business entity
- You have authority to bind that entity
- Your business is not subject to sanctions or trade restrictions
3.3 Individual consumers are not permitted to use the Platform.
4. Accounts
4.1 Users must provide accurate and complete information.
4.2 Opendepot may suspend or terminate accounts that provide false or misleading information.
4.3 Users are responsible for maintaining the confidentiality of login credentials.
4.4 Opendepot may request additional verification documents at any time for compliance purposes.
5. Seller Responsibilities
5.1 Sellers must complete business verification before listing inventory.
5.2 Sellers represent and warrant that:
- They have legal ownership or authorization to sell listed goods
- Listing information is accurate and complete
- Goods comply with applicable laws
- Goods are not counterfeit, stolen, restricted, or illegal
5.3 Opendepot may review and approve listings before publication.
5.4 Sellers are responsible for fulfilling delivery according to listing terms.
6. Buyer Responsibilities
6.1 Buyers are responsible for reviewing listing details before committing to a transaction.
6.2 Buyers agree to confirm receipt of goods in a timely manner.
6.3 Product descriptions and specifications are provided by Sellers. Opendepot does not independently verify goods unless explicitly stated.
7. Payments and Financial Processing
7.1 All payments are processed through licensed and regulated third-party payment service providers integrated into the Platform.
7.2 Opendepot does not hold, custody, or directly control user funds.
7.3 Any balance displayed within the Platform interface represents transaction records processed by third-party financial infrastructure.
7.4 Opendepot is not a bank, financial institution, or electronic money institution.
7.5 Payment processing, safeguarding of funds, AML checks, and financial compliance obligations are performed by licensed payment providers in accordance with applicable regulations.
8. Transaction Structure
8.1 When a Buyer commits to a purchase, funds are processed via the integrated payment provider in accordance with the transaction terms.
8.2 Funds are released to the Seller according to delivery confirmation and transaction conditions.
8.3 If a transaction is cancelled in accordance with Platform rules, refunds are processed via the payment provider.
8.4 Opendepot does not guarantee the performance of either party.
9. Commission
9.1 Opendepot earns a commission on successfully completed transactions.
9.2 Commission details are displayed on the Platform or communicated prior to transaction completion.
9.3 Opendepot may update commission rates with reasonable prior notice.
10. Dispute Resolution
10.1 Disputes must first be raised through the Platform.
10.2 Opendepot may review transaction records and facilitate communication between parties.
10.3 Opendepot acts as a mediator, not as an arbitrator or court.
10.4 Opendepot is not liable for disputes arising between Buyers and Sellers.
11. Prohibited Conduct
Users must not:
- List counterfeit, stolen, or illegal goods
- Circumvent Platform payment systems
- Engage in fraud or money laundering
- Submit false verification documents
- Interfere with Platform infrastructure
- Violate applicable laws
Opendepot may suspend accounts involved in prohibited conduct.
12. Fraud Prevention & Compliance
12.1 Transactions may be monitored for fraud prevention.
12.2 Opendepot may temporarily restrict access pending compliance review.
12.3 Opendepot may cooperate with law enforcement or financial authorities where required by law.
13. Limitation of Liability
To the maximum extent permitted by law:
- Opendepot is not liable for the quality or legality of listed goods
- Opendepot is not responsible for failure of a User to complete a transaction
- Opendepot is not liable for indirect or consequential damages
- Opendepot’s total liability shall not exceed the commission paid by the User in the preceding 12 months
Nothing in these Terms excludes liability that cannot be excluded by law.
14. Indemnification
Users agree to indemnify and hold harmless Opendepot from claims arising from:
- Their use of the Platform
- Their listings
- Their transactions
- Their violation of law
15. Governing Law
These Terms are governed by the laws of the jurisdiction in which Opendepot’s operating entity is registered, unless mandatory consumer or commercial laws require otherwise.
16. Termination
Opendepot may suspend or terminate accounts for:
- Breach of Terms
- Fraud or compliance concerns
- Regulatory requirements
Users may close their account at any time, subject to completion of pending transactions.
17. Modifications
Opendepot may update these Terms with reasonable prior notice. Continued use of the Platform constitutes acceptance of updated Terms.
18. Contact
For questions regarding these Terms: