Gloseg Trade Assurance Policy

Gloseg Trade Assurance Policy

Gloseg B2B Limited Effective Date: August 16, 2026 Version: 1.2

Trade Assurance is Gloseg's contractual protection programme for qualifying Orders. It gives Buyers a defined path to a remedy when goods or documentation fail to match what was agreed, and it gives Sellers a clear, evidence-based process rather than open-ended disputes. This document explains what Trade Assurance covers, what it excludes, how a claim is decided, and how it interacts with Escrow and the Dispute process.

Definitions

"Trade Assurance" means the contractual claim and remedy programme described in this document, applicable to qualifying Orders funded through Gloseg Escrow.

"Covered Order" means an Order that meets the eligibility criteria in Section 2 at the time the Order was placed.

"Approved Sample" means the sample, physical or documented, that the Buyer accepted through a Sample Quote or an equivalent recorded specification prior to placing the Order.

"Claim" means a formal Trade Assurance submission made by a Buyer within the Claim Window, supported by evidence, alleging a Covered Risk.

"Covered Risk" means one of the risk categories defined in Section 3.

"Claim Window" means the period, measured from the delivery evidence date or the documentation deadline, within which a Buyer must submit a Claim.

"Inspection Report" means a report from a Gloseg-recognized inspection source (independent inspection agency, forwarder-provided inspection, or Gloseg-facilitated inspection) describing the condition, quantity, or specification of goods at a given point in the shipment.

"Remedies Hierarchy" means the ordered set of remedies (repair, replacement, partial refund, full refund) Gloseg applies when a Claim is substantiated, as described in Section 7.

"Substantiated Claim" means a Claim that Gloseg, applying the evidence standards in Section 5, determines is more likely than not to be valid.

1. Scope and parties

1.1 What Trade Assurance is

1.1.1 A platform remedy, not insurance

• Trade Assurance is a contractual commitment by Gloseg, operating within the Escrow mechanism, to facilitate a remedy between a Buyer and a Seller when a Covered Risk is substantiated. It is not an insurance product, is not underwritten by Gloseg or any insurer, and does not involve payment of a premium.

1.2 What Trade Assurance is not

1.2.1 Express exclusions from characterization

• It is not a guarantee that every Order will be defect-free. It is not a substitute for the Buyer's own commercial due diligence. It does not cover risks arising after the Buyer has taken possession and used, resold, or altered the goods, except as stated in Section 4.

2. Eligibility

2.1 Order eligibility

2.1.1 Conditions for a Covered Order

• The Order was created from an Accepted Quote (or Accepted Sample Quote) on the Gloseg platform.
• Funds for the Order were held in Gloseg Escrow, not paid directly outside the platform.
• The Order value falls within the coverage limits described in Section 6.
• The Claim is submitted within the applicable Claim Window described in Section 8.

2.2 Organization eligibility

2.2.1 Standing to claim

• Only the Ordering Organization that funded the Order, acting through an authorized user with owner, admin, or manager role, may submit a Claim. A Supplying Organization may respond to a Claim but may not submit one on a Buyer's behalf.

2.3 Orders outside the programme

2.3.1 Not eligible

• Orders paid outside Escrow, orders where the Buyer waived Trade Assurance in writing as part of a negotiated commercial term, and orders already fully resolved through a separate Dispute decision on the same facts, are not eligible for a new Claim.

3. Covered risk categories

3.1 Specification mismatch

3.1.1 Definition

• The delivered goods materially differ from the specification recorded in the Accepted Quote or the Approved Sample, in material, dimension, function, or stated compliance characteristic.

3.2 Non-delivery

3.2.1 Definition

• The Seller fails to ship, or the goods fail to arrive, within the delivery window stated in the Accepted Quote plus any Gloseg-recognized grace period, with no evidence of dispatch.

3.3 Short delivery

3.3.1 Definition

• The delivered quantity is materially below the quantity ordered, outside the quantity tolerance agreed in the Accepted Quote or the default tolerance under the Purchase Agreement.

3.4 Documentation failure

3.4.1 Definition

• Required export or commercial documents (commercial invoice, packing list, certificate of origin, phytosanitary or other regulatory certificate specified in the Accepted Quote) are missing, materially incorrect, or not provided within the agreed timeframe, and this failure prevents customs clearance or acceptance by the Buyer.

3.5 Quality below approved sample

3.5.1 Definition

• Bulk goods are of materially lower quality than the Approved Sample in a manner a reasonable buyer in the same trade would consider a defect, evidenced by an Inspection Report or comparable documented assessment.

4. Exclusions

4.1 Risks not covered

4.1.1 List of exclusions

• Minor variances within recognized industry tolerance for the goods category (colour batch variance, natural material variation, packaging cosmetic differences not affecting function).
• Damage occurring after the Buyer or its agent has taken possession of the goods, including damage during onward transport arranged by the Buyer, improper storage, or use.
• Losses arising from currency fluctuation, market price movement, or the Buyer's own change of business plan.
• Delays caused by customs authorities, port congestion, weather, or other Force Majeure events outside the Seller's reasonable control, except to the extent the Seller failed to provide required documentation that was within its control.
• Claims based on subjective preference where the goods conform to the Accepted Quote and Approved Sample.
• Orders where the Buyer failed to inspect goods within a reasonable period after delivery where inspection was reasonably possible.
• Consequential losses such as lost resale profit, lost business opportunity, or reputational harm.

5. Evidence standards and inspection reports

5.1 What evidence is required

5.1.1 Minimum evidentiary package

• Photographic or video evidence of the goods as received, dated and referencing the Order number.
• The Accepted Quote and, where applicable, the Approved Sample record.
• Shipping and customs documents relevant to the Covered Risk alleged.
• An Inspection Report where the claim concerns quality or specification, particularly for Order values above the thresholds in Section 6.2.

5.2 Standard of proof

5.2.1 Balance of probabilities

• Gloseg decides a Claim on the balance of probabilities: whether the evidence makes it more likely than not that the Covered Risk occurred as described. Gloseg is not a judicial body and does not apply a criminal standard of proof.

6. Coverage limits

6.1 How the limit is calculated

6.1.1 Basis

• The maximum recoverable amount under a Claim is the USD Pivot value of the affected portion of the Order (the non-conforming, short, or undelivered goods), and does not extend to freight, insurance premiums paid to third parties, import duty already paid, or consequential loss, except where the Accepted Quote expressly includes such amounts within the escrowed price.

6.2 Inspection requirement thresholds

6.2.1 Table of thresholds

7. Remedies hierarchy

7.1 Order of remedies

7.1.1 Sequence Gloseg applies

1. Repair: where the Seller can correct the non-conformity at the Buyer's location or before final release, at the Seller's cost.
2. Replacement: where repair is not feasible, replacement goods conforming to the Accepted Quote, at the Seller's cost including reasonable re-shipment.
3. Partial refund: where repair or replacement is not feasible or would cause unreasonable delay, a refund proportional to the affected quantity or the diminished value of the goods.
4. Full refund: for non-delivery, total documentation failure preventing use of the goods, or where the non-conformity is so material that the goods are of no reasonable use to the Buyer.

7.2 Selection criteria

7.2.1 How Gloseg chooses

• Gloseg selects the remedy proportionate to the severity of the substantiated Covered Risk, the Seller's willingness and ability to cure, and the Buyer's reasonable commercial timeline, favouring the least disruptive remedy that fully addresses the harm.

8. Claim windows and process

8.1 Claim windows

8.1.1 Table of windows

8.2 Step-by-step process

8.2.1 Indicative timeline

9. Relationship to escrow release and disputes

9.1 Effect on Escrow

9.1.1 Freezing the milestone

• Submitting a Claim within the Claim Window and before Auto-Release under the Payments, Escrow & Payouts Terms pauses release of the relevant Milestone until the Claim is decided.

9.2 Relationship to the Dispute process

9.2.1 One track, not two

• A Trade Assurance Claim and a general Dispute filed under the Refund & Dispute Resolution Policy on the same facts are treated as a single track: filing a Trade Assurance Claim is the appropriate route for the five Covered Risk categories in Section 3, and Gloseg will redirect a general Dispute that in substance alleges a Covered Risk into the Trade Assurance process to avoid duplicate proceedings.

10. Seller obligations and consequences of substantiated claims

10.1 Cooperation duty

10.1.1 What a Seller must do

• Respond to a Claim notice within the timeline in Section 8.2, provide requested documentation, and cooperate with any inspection request.

10.2 Consequences

10.2.1 Effects of a Substantiated Claim

• The applicable remedy is executed against the Seller's Escrow proceeds or future Payouts.
• A pattern of Substantiated Claims against a Seller Organization triggers review under the verification and Tier framework, and may result in Tier downgrade, additional listing review, or suspension under the Terms of Service.
• Repeated documentation failures may result in mandatory pre-shipment inspection being imposed on the Seller Organization for future Orders.

11. Buyer duties to mitigate

11.1 Reasonable steps

11.1.1 What a Buyer must do

• Inspect goods promptly on arrival where inspection is reasonably possible, preserve evidence of any non-conformity, avoid using or reselling clearly non-conforming goods before a Claim is resolved, and cooperate with any Seller-proposed repair or replacement that is reasonable in the circumstances.

11.2 Effect of failure to mitigate

11.2.1 Reduction of remedy

• Gloseg may reduce the remedy awarded where the Buyer's failure to take reasonable mitigating steps materially worsened the loss or prevented the Seller from curing the non-conformity.

12. Appeals

12.1 Right to appeal

12.1.1 Window and grounds

• Either party may appeal a Claim decision within 7 days, on the grounds of new material evidence or a material procedural error. Appeals are reviewed by a Gloseg Operations reviewer who was not involved in the original decision.

12.2 Finality

12.2.1 After appeal

• The appeal decision is final within the Gloseg internal process. Either party retains the right to pursue the matter through the dispute resolution forum described in Section 15, subject to the Terms of Service.

13. Abuse of the programme

13.1 Prohibited conduct

13.1.1 Examples

• Submitting fabricated or materially misleading evidence, filing repeated Claims on the same delivery without new grounds, colluding between Buyer and Seller accounts to extract remedies without an underlying Covered Risk, or filing Claims outside the Claim Window and misrepresenting the delivery date.

13.2 Consequences of abuse

13.2.1 Enforcement

• Gloseg may reject the Claim, reverse any remedy already granted, and suspend the Organization's access to Trade Assurance or the platform, without prejudice to any other remedy available to Gloseg or the counterparty under the Terms of Service.

14. Nature of the programme

14.1 Contractual remedy, not insurance

14.1.1 Express statement

• Trade Assurance is a contractual platform remedy funded from the specific Order's Escrow proceeds and, where the Seller's Escrow proceeds are insufficient, from recovery action against the Seller Organization. It is not an insurance product, is not underwritten, guaranteed, or reinsured by Gloseg or any third party, and does not create a general fund from which unrelated Buyers are compensated. Separately, Gloseg may facilitate access to third-party trade credit insurance or cargo insurance claims processes; such facilitation is described in the platform's insurance claims feature and is distinct from, and not a substitute for, Trade Assurance.

15. Governing law and jurisdiction

15.1 Governing law

15.1.1 Ghana law

• This Policy is governed by the laws of the Republic of Ghana.

15.2 Dispute resolution forum

15.2.1 Arbitration

• Any dispute concerning the interpretation or application of this Policy that is not resolved through the appeal process in Section 12 is referred to arbitration seated in Accra, Ghana, under the arbitration rules agreed in the Terms of Service.

16. Amendments and notice of change

16.1 How this Policy changes

16.1.1 Notice

• Gloseg may update this Policy from time to time. Material changes affecting coverage, exclusions, or claim windows are notified to Organizations at least 14 days before taking effect and apply prospectively to Orders placed after the effective date of the change.

17. Severability and entire agreement

17.1 Severability

17.1.1 Partial invalidity

• If a provision of this Policy is found invalid or unenforceable, the remainder continues in effect.

17.2 Entire agreement

17.2.1 Integration

• This Policy, read with the Terms of Service, the Payments, Escrow & Payouts Terms, and the Refund & Dispute Resolution Policy, constitutes the entire agreement between Gloseg and an Organization regarding Trade Assurance coverage.

Contact

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Gloseg B2B Limited Accra, Ghana, West Africa