Terms & Conditions

7.1 Free Registration

Registration on Indust is free unless otherwise specified by Indust. Users may access and use the Platform subject to these Terms and Conditions.

7.2 Success Fee

Indust operates on a Success Fee model. A Success Fee shall become payable where a Customer and a Supplier successfully establish a commercial relationship through an introduction, lead, referral, connection or business opportunity facilitated by Indust. The Success Fee shall be payable irrespective of whether the transaction is concluded through the Indust Platform or directly between the parties after such introduction.

7.3 Success Fee Rate

• Unless otherwise agreed in writing, the Customer shall pay a one-time Success Fee equal to 2% of the Project Value or the Minimum Success Fee of Rs.2,000/- (Rupees Two Thousand Only), whichever is higher, together with applicable GST.
• Unless otherwise agreed in writing, the Supplier shall pay a one-time Success Fee equal to 2% of the Project Value or the Minimum Success Fee of Rs.2,000/- (Rupees Two Thousand Only), whichever is higher, together with applicable GST.

7.4 Calculation of Success Fee

The Success Fee shall be calculated based on the final Project Value mutually agreed between the Customer and the Supplier. The Project Value shall include, wherever applicable:

• Purchase Orders
• Work Orders
• Manufacturing Contracts
• Supply Agreements
• Annual Rate Contracts
• Development Contracts
• Tooling Charges
• Development Charges
• Quantity Revisions
• Change Orders
• Any other commercial consideration arising out of the same business engagement.

Sample orders, prototype orders, trial production, pilot production and development samples shall not be considered for calculating the Success Fee unless otherwise agreed by Indust.

7.5 Revision of Project Value

If the Project Value is revised before commencement of regular production or execution of the project, the Success Fee shall be recalculated based on the final mutually confirmed Project Value.

Where additional purchase orders or commercial revisions arise from the same business engagement, Indust reserves the right to revise the Success Fee accordingly.

7.6 Disclosure Obligation

Both the Customer and the Supplier shall promptly disclose the final Project Value and provide such purchase orders, work orders, agreements, invoices or other supporting documents as may reasonably be required by Indust for verification and calculation of the Success Fee.

Failure to disclose accurate information shall constitute a breach of these Terms.

7.7 Success Fee Invoice

Upon confirmation of the commercial award, purchase order, work order, execution of agreement or commencement of production or services, Indust shall issue a Success Fee Invoice to the respective Customer and Supplier.

The Success Fee shall become immediately due and payable in accordance with the payment terms specified in the invoice.

7.8 Payment Terms

The Success Fee shall be paid within the period specified in the invoice issued by Indust unless otherwise agreed in writing.

All payments shall be made without deduction, withholding or set-off except where required by applicable law.

7.9 Taxes

The Success Fee is exclusive of applicable Goods and Services Tax (GST) and any other statutory taxes, duties or levies. All such taxes shall be payable additionally by the respective User in accordance with applicable law.

7.10 Circumvention

Users shall not directly or indirectly bypass, avoid or circumvent Indust after an introduction has been made for the purpose of avoiding payment of the Success Fee.

• Any commercial transaction entered into between the Customer and the Supplier within twenty-four (24) months from the date of introduction by Indust shall be deemed to have resulted from such introduction unless proven otherwise.
• The applicable Success Fee shall remain payable notwithstanding that negotiations, communications or execution of the transaction take place outside the Indust Platform.
• The Success Fee becomes payable upon successful award of the project through Indust and is not contingent upon the subsequent execution or outcome of the project.

7.11 Under-reporting of Project Value

If Indust reasonably believes that the Project Value has been intentionally understated, concealed or misrepresented, Indust shall be entitled to determine the Project Value based on available commercial documents, market value, invoices, purchase orders or any other reliable evidence. The Success Fee shall be recalculated accordingly, and the User shall remain liable for payment.

7.12 Delay in Payment

Any Success Fee remaining unpaid after the due date shall carry interest at the rate of 18% (Eighteen Percent) per annum, calculated from the due date until the date of actual payment, without prejudice to Indust's other legal rights and remedies.

7.13 Non-Payment and Recovery

Failure to pay the Success Fee shall entitle Indust to:

• Suspend or terminate the User's account
• Restrict access to the Platform
• Recover the outstanding Success Fee together with applicable interest
• Recover legal costs, collection expenses and other incidental costs incurred for recovery
• Initiate appropriate civil or other legal proceedings available under applicable law

7.14 Special Commercial Arrangements

Indust reserves the right to enter into separate commercial arrangements or negotiate different Success Fee structures with any Customer or Supplier through a written agreement.