THE PHARMABID®, LLC

 

TERMS AND CONDITIONS BETWEEN PHARMABID®, LLC,  AND  BUYERS

 

I.    INTRODUCTION

Pharmabid, LLC, welcomes you as a potential Buyer to the Pharmabid, LLC, website. If at any time you have a question regarding buying procedures, please submit your inquiry to joe@pharma-bid.com. Those Parties who are recognized by Pharmabid, LLC, as qualified Buyers will receive a timely response that assures that their dealings with Pharmabid, LLC, result in a positive and professional experience that achieves a standard of excellence expected by participants working within the pharmaceutical industry.

Pharmabid, LLC, is a Pennsylvania Limited Liability Corporation licensed to conduct business within the United States of America, and elsewhere as permitted by law. Pharmabid, LLC, maintains an address of 9 North Main Street, Unit 179, Nazareth, Pennsylvania 18064, and a telephone number of (610) 428-3106.

II.    THE SERVICES PROVIDED BY PHARMABID®, LLC

Pharmabid®, LLC, provides information that facilitates the process by which a potential Buyer (the “Buyer”) may be advised of the availability of Pharmaceutical Product, (the “Product”) and provides a purchsing forum by means of the Pharmabid®, LLC, website (the “Website”)that enables a qualified Buyer the ability to acquire a specific Product directly from a Manufacturer of that Product at a price acceptable to the Manufacturer (the “Manufacturer”).

III.    THE BUYING PROCESS

The Buyer agrees to the following process by which one can purchase product

1.    The Buyer’s Designated Representative:  A qualified Buyer may only consist of a corporation that has previously maintained an approved relationship with the designated Manufacturer.  Pharmabid®, LLC, will rely upon information received upon Pharmabid®, LLC’s, website and application in order to confirm the identification of authorized representatives of the Buyer.

2.    All information submitted by the Buyer to Pharmabid®, LLC, is current, true and correct. The Buyer has provided the name, status, address, email contact and telephone number of the individual authorized to execute the Agreement. Changes in such information will be submitted by the Buyer without delay or request.

3.    The Buyer warrants that the Buyer is in compliance with all Federal, State, and local laws, including any law affecting the acquisition and/or resale of pharmaceutical product, and disposal of Product.

4.    The Buyer will honor all tax liability for which the Buyer is or shall become responsible arising from the acquisition of Product acquired under the present Agreement.

5.    The Buyer indemnifies and holds Pharmabid®, LLC, harmless from any third-party actions, suits, or litigation arising from the bidding upon or ultimate acquisition of Product associated with the present Agreement.

6.    The Buyer alone is solely responsible for arranging and scheduling shipment of Product directly with the Manufacturer.

7.    The Buyer warrants that the Product is not being purchased on behalf of a third party unauthorized to acquire or possess the Product.

8.    The Buyer will be solely responsible for compliance with all environmental regulations regarding disposition of the Product.

9.    The Buyer is authorized to conduct business within the Commonwealth of Pennsylvania and is compliant with all Federal, State, and local regulations regarding conduct of its business.

VI.    NOTIFICATION OF A DISPUTE AND BINDING ARBITRATION

Should a dispute, disagreement, unresolved issue, or cause of action arise between Pharmabid®, LLC, and the Buyer as a result of their participation in the present Agreement, the resolution of which requires third party intervention or adjudication, the parties agree as follows:

1.    The Buyer may not allege a cause of action that the Buyer has waived or in which the Buyer has agreed to hold Pharmabid®, LLC, harmless as outlined in paragraph IV above. With regard to any residual issues, it is agreed that binding arbitration shall take place as the sole resolution remedy, rather than utilization of, or resorting to the jurisdiction of a municipal, state, or federal court.

2.    The rules of the American Arbitration Association shall apply whereby each party shall choose an arbitration panel member, and those two members chosen shall select a third member to sit as the chairperson.  In the alternative, the parties may agree upon one arbitrator serving as the only arbitrator to hear the arbitration.

3.    The Arbitration shall take place in a timely manner, predicated upon the schedule of the panel member(s) who shall schedule the arbitration.

4.    The arbitration shall take place at a location within the Counties of Lehigh or Northampton, and Commonwealth of Pennsylvania.

5.    The arbitration panel member(s) shall determine what evidence may or may not be submitted at time of the arbitration. The strict rules of evidence shall not apply.

6.    Each party will pay for the costs of the arbitrator the party has chosen. The parties will equally divide and pay for the costs of the third arbitrator serving as chairperson. If one arbitrator is utilized, the costs shall be equally divided between the parties.

7.    The arbitrator(s) shall issue a written decision within 30 days of the conclusion of the arbitration, which decision shall be binding and from which no further appeal or cause of action shall be taken. The arbitrator(s) may award fees and costs if the arbitrator(s) deem such an award to be justified.

8.    The award shall be limited to actual monetary damages sustained, rather than punitive or other such damages.

9.    The award and decision may be filed of record before the Lehigh or Northampton County Court of Pennsylvania and reduced to judgment. In the alternative, the judgment may be transferred to yet another jurisdiction or jurisdictions.

VII.    ACCEPTANCE OF THE TERMS AND CONDITIONS

By accepting the present terms and conditions, Pharmabid®, LLC, and the Buyer agree to abide by the terms as herein outlined.