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HOW IT WORKS

WHO CAN JOIN THE EXCHANGE?

  1. HFEx is a B2B exchange for high fashion retailers of apparel, shoes and accessories. Upon signing up, HFEx verifies that each member of the exchange is authorized to trade on behalf of their respective brands.

HOW CAN I SELL ON THE EXCHANGE?

  1. Members are allowed to list an unlimited number of items for sale. Offer listings and prices can be modified only by the seller at any time. Each item traded should be above US$250 (or equivalent) in value.

  2. Upon signing up, members will enjoy a complimentary data entry service of up to 500 SKU for mono-brand shops and up to 1000 SKU for multi-brand shops. If prices are not suggested by members, then indicative prices will be provided by HFEx.

  3. For any particular brand/label, each product has a unique and similar product code. Goods on offer are identified only by the manufacturer's product code. Photographs of products are optional.

  4. All offer prices are quoted on condition that the products are still available, and are excluding insurance, freight and an administrative fee of US$20 charged by HFEx All bank charges will be borne by the seller.

  5. Upon acceptance of delivery by the buyer, HFEx will transfer funds equivalent to the transacted amount, less commissions due to HFEx, to the seller's designated PayPal account, within 7 working days. All bank charges will be borne by the seller. HFEx will also send a payment advice to the seller's registered email address.

WHAT ARE THE SHIPPING/PACKING REQUIREMENTS?

  1. International couriers are used for shipments. Goods should be packed according to the usual requirements stipulated by such couriers.

  2. Before goods are shipped to the buyer, sellers should also ensure the following:
    a) check that items are in perfect condition;
    b) ship all products with the original manufacturer's product code and packing box;
    c) remove all local product codes and price tags;
    d) print delivery instructions for couriers; and
    e) inform staff of collection schedules (if necessary)
    f) insert into HFEx special flyer.

HOW CAN I BUY ON THE EXCHANGE?

  1. To search listings, please key in only the manufacturer's product code, followed by (optional) the year, season (spring/summer or autumn/winter), size and colour code. Do not search using any other code. While anyone can search our listings, only HFEx members can buy and sell on the exchange.

  2. If the product is available, it can be reserved for 2 hours. The reservation may be extended for another 2 hours. This buffer period allows retail staff to finalize any sales with customers or obtain approval from their supervisors before trading on HFEx.

  3. All offer prices are quoted on condition that the products are still available. The total price confirmed by HFEx will include the following:
    a) cost of goods offered by seller
    b) freight charges;
    c) insurance charges;
    d) handling fees (if applicable); and
    e) administrative fee of US$20 charged by HFEx.

  4. Commissions to HFEx are paid only by sellers.

HOW ARE TRANSACTIONS SETTLED?

  1. If the goods are accepted by the buyer, this will constitute full and final settlement of the transaction.

  2. If the goods are rejected by the buyer, they will be returned to the seller, and the cost of goods only will be refunded to the buyer.

WHO IS AUTHORIZED TO TRANSACT ON THE EXCHANGE?

  1. All staff of members can make enquiries and reservations for available stock. However, only between 1 and 3 registered persons will be designated to transact on each member account. Such designated persons will be able to:
    a) list goods for offer and make any subsequent changes;
    b) confirm transactions; and
    c) confirm shipments and deliveries.

 

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