BASI - Terms and Conditions

Last Updated: 5th April, 2026

BuyAndSellInventory.com, BASI, Inc. (“BASI,” “we,” “us,” or “our”) operates an online marketplace at BuyAndSellInventory.com (the “Site”), along with related tools, messaging features, and digital agreements (collectively, the “Services”).

BASI connects independent buyers and sellers of surplus, liquidation, and excess inventory, enabling users to list, browse, negotiate, and complete transactions.

BASI is a technology platform and does not take possession of inventory or hold customer funds directly.

By accessing or using the Services, you agree to these Terms & Conditions (“Agreement”).

If you use BASI on behalf of a business or other entity, you confirm that you have the authority to bind that entity to this Agreement. BASI is available only to users located in the United States, and all transactions are conducted in U.S. dollars. You must be at least 18 years old to use the Services. By registering an Account, you represent and warrant that you are at least 18 years old.

1. Definitions

  • Account — A registered BASI user profile

  • Buyer — A User purchasing Inventory

  • Seller — A User listing Inventory

  • Deal — A completed transaction via Buy Now or accepted Offer

  • Offer — A Buyer’s proposed price and quantity

  • Digital Contract Note — The binding digital agreement summarizing Deal terms

  • GMV — Gross Merchandise Value, excluding tax and shipping

  • User Content — Listings, images, messages, manifests, uploads

2. BASI’s Role (Technology Platform Only)

BASI is a technology platform that connects Buyers and Sellers.

  • BASI is not a buyer or seller

  • BASI does not own, inspect, store, ship, or possess Inventory

  • BASI is not a broker, dealer, or agent

  • BASI is not a party to transactions

All transactions occur directly between Buyers and Sellers.
BASI does not guarantee that any listing will result in a completed transaction.

3. Electronic Agreements (E-SIGN)

By accepting an Offer or completing a transaction, Users agree that Digital Contract Notes constitute legally binding agreements under applicable electronic signature laws, including the U.S. E-SIGN Act.
Users agree that all notices, agreements, and communications may be provided electronically.

4. Inventory Condition & AS-IS Sales

Unless expressly stated otherwise in writing:

  • All Inventory is sold AS IS, WHERE IS, WITH ALL FAULTS

  • BASI makes no warranties regarding condition, quality, functionality, or fitness

  • Buyers acknowledge the inherent risks of liquidation and surplus inventory

5. ALL SALES FINAL / NO RETURNS

All transactions conducted on BASI are final.

No returns, exchanges, or cancellations are permitted once a Deal is completed.

Refunds will not be granted for:

  • Buyer remorse or change of mind

  • Resale difficulty or performance

  • Overstock or pricing assumptions

  • Cosmetic wear or packaging condition consistent with liquidation goods

  • Failure to review listing details before purchase

By completing a purchase, Buyers confirm they are certain about their purchase.

6. Buyer Responsibility & Due Diligence

Buyers are responsible for:

  • Reviewing all listing details, images, and disclosures

  • Asking all questions prior to purchase

  • Confirming condition, quantity, and quality with the Seller

  • Conducting independent inspections if desired

6.1 Returns & Refund Condition

If a Buyer raises a dispute and a refund is approved due to material misrepresentation or incorrect shipment, the Buyer must arrange and return the goods to the Seller. Returned goods must be in substantially the same condition as received.

Return shipping costs are the responsibility of:
(i) the Seller, if the issue is due to misrepresentation or incorrect shipment; or
(ii) the Buyer, for all other reasons, unless otherwise agreed in writing.

BASI does not take possession of goods and does not manage returns or logistics. All returns are handled directly between Buyer and Seller.

The Buyer must initiate the return and provide valid return tracking within 4 business days of initiating the dispute.

Funds will not be released until the goods are returned and delivery is confirmed, or both parties agree in writing to an alternative resolution.

If the Buyer fails to return the goods or provide valid tracking within this timeframe, BASI may release funds to the Seller.

BASI does not mediate disputes but may enforce platform policies, including holding or releasing funds based on available evidence.

7. Seller Obligations & Listing Accuracy

Sellers must provide:

  • Honest, accurate, and complete descriptions

  • Correct quantities and condition disclosures

  • Accurate manifests and representations

Material misrepresentation may result in enforcement action, including listing removal or account suspension.

8. Defective / Deficiency Allowance

  • Listings must not exceed a 3% defective rate

  • Defects include damaged, missing, or non-functional units

  • Variance within this threshold is accepted by Buyers

Listings exceeding this threshold may result in:

  • Buyer remediation

  • Listing removal

  • Seller penalties or account suspension

Sellers remain solely responsible for defect disclosures.

9. Inspection & Issue Reporting

Buyers must inspect Inventory within:

3 business days from delivery

Issues reported after this period may not be considered.

Failure to report issues within this period constitutes acceptance of the Inventory.

10. Limited Dispute Review (No Mediation)

BASI does not offer returns, mediate disputes, or act as an arbitrator between Buyers and Sellers.

BASI may, at its sole discretion, review issues solely for the purpose of enforcing platform policies and maintaining marketplace integrity, including:

- Material misrepresentation

- Incorrect items shipped

- Significant quantity discrepancies
- Defect rate exceeding 3% of the total items received, which may be considered a material issue

BASI is not obligated to intervene in any dispute.

All resolutions remain solely between the Buyer and Seller.

BASI is not responsible for resolving disputes or enforcing any agreements between Users.
BASI may, at its sole discretion, assist Users by providing transaction records or supporting documentation to payment providers (including Stripe) in cases of suspected fraud, as required.

11. Offers & Binding Agreements

  • Offers may be submitted, countered, or accepted on the platform

  • Accepted Offers create binding agreements via the Digital Contract Note

  • Off-platform transactions are strictly prohibited

12. Shipping, Pickup & Risk Transfer

  • Shipping responsibility is defined in each listing

  • Sellers must provide proof of shipment where applicable

  • Buyer-arranged pickup transfers all logistics responsibility to the Buyer

Risk of loss transfers to the Buyer upon delivery to the shipping carrier (for Seller-shipped orders) or upon pickup.
Buyers are responsible for filing any claims directly with the shipping carrier where applicable.

BASI is not responsible for carrier issues, delays, or damage.

Buyers and Sellers are responsible for agreeing on shipping terms, costs, and logistics prior to completing a transaction.

12.1 Transaction Confirmation Requirements

Buyers and sellers must complete all required transaction actions within the BASI platform.

Sellers must promptly confirm shipment after dispatch by providing tracking details or applicable shipping information in the BASI dashboard – See BASI Seller’s Guide.

Buyers must promptly confirm delivery of inventory in the BASI dashboard upon receipt – See BASI Buyer’s Guide.

13. Fees, Payments & Payouts

13.1 Platform Fee

BASI charges a 10% seller fee, automatically deducted from Seller payouts.

13.2 Payment Processing

  • Payments are processed securely via Stripe

  • Funds are processed and released according to BASI’s transaction flow via Stripe

  • BASI does not hold or take custody of funds

13.3 Stripe Fees

Stripe processing fees (e.g., 2.9% + $0.30) are deducted from Seller payouts.

13.4 Seller Payouts

Seller payouts occur after:

  • Delivery confirmation or inspection window expiry

  • Compliance with shipping obligations

14. Shipping Timing & Fulfillment

Sellers must ship Inventory within:

2–4 business days (unless otherwise stated in the listing)

Failure to ship may result in cancellation of the transaction and return of funds to the Buyer.

15. Post-Delivery Review Period

A 3 business day review period applies after delivery.

This period is limited to reporting:

  • Fraud

  • Incorrect items

  • Material misrepresentation

  • Defect rates exceeding 3% of total items received

16. Sales Tax Policy

BASI operates as a marketplace facilitator.

  • Stripe Tax calculates and collects applicable sales tax

  • BASI manages tax obligations in accordance with applicable laws

  • Sellers do not collect or remit sales tax

  • Sellers remain responsible for reporting income

17. Chargebacks

In the event of a chargeback or payment dispute:

BASI reserves the right to recover:

  • The disputed amount

  • Associated fees

  • Administrative costs

from the Seller.

BASI may offset such amounts against future payouts to the Seller.

18. Platform Disclaimers

The Services are provided AS IS, AS AVAILABLE.

BASI disclaims all warranties, including:

  • Merchantability

  • Fitness for a particular purpose

  • Accuracy or completeness of listings

19. Limitation of Liability

To the fullest extent permitted by law:

  • BASI is not liable for indirect, incidental, or consequential damages

  • BASI is not liable for inventory condition, resale outcomes, shipping issues, or disputes

BASI’s maximum liability is limited to the greater of:

  • $100, or

  • Fees paid to BASI in the prior 3 months

20. Indemnification

Users agree to indemnify and hold BASI harmless from claims arising from:

  • Inventory listings or transactions

  • Misrepresentation or fraud

  • Legal violations

  • Misuse of the Services

21. User Conduct

Users may not:

  • Circumvent BASI to transact off-platform

  • Misrepresent inventory or identity

  • Engage in fraud or abuse

  • Interfere with platform integrity

  • Use bots, scraping tools, or automated methods to access, copy, monitor, or extract data from the platform without prior written consent

BASI may suspend or terminate accounts at its discretion.

22. Account Security

Users are responsible for maintaining the confidentiality of their account credentials and all activity under their account.

23. User Content License

Users grant BASI a non-exclusive, worldwide, royalty-free license to use, display, and distribute User Content for platform operation and promotion.

24. Intellectual Property & DMCA

Users may not upload, list, or distribute content that infringes the intellectual property rights of others.

BASI respects intellectual property rights and will remove allegedly infringing content upon receiving proper notice.

If you believe content on BASI infringes your rights, you may submit a notice including:

  • Identification of the content

  • Description of the alleged infringement

  • Your contact information

  • A statement of good faith belief

BASI may remove content and suspend repeat infringers at its sole discretion.
BASI reserves the right to remove content without prior notice.

DMCA Designated Agent
BASI’s designated agent for copyright notifications can be contacted at: Email: dmca@buyandsellinventory.com
Please include support@buyandsellinventory.com on DMCA notifications.
Address: West Street, New York, NY 10006
BASI has registered its designated agent with the U.S. Copyright Office in accordance with 17 U.S.C. §512.

25. Platform Availability

BASI does not guarantee uninterrupted access to the Services and is not liable for downtime or technical interruptions.

26. Suspension & Termination

BASI may suspend or terminate Accounts for violations of these Terms or for activity that may harm the platform or its Users.

BASI will make reasonable efforts to notify Users of any suspension or termination and, where appropriate, Users may contact support to address the issue.

Certain obligations survive termination.

27. Governing Law & Arbitration

All disputes must be resolved by binding arbitration administered by the American Arbitration Association (AAA) under its Commercial Arbitration Rules.

Arbitration will take place in New York, NY.

Each party will bear its own legal fees, and arbitration costs will be allocated in accordance with AAA rules.

Users waive the right to bring claims as part of a class or representative action.

28. Privacy & Communications

User data is processed in accordance with BASI’s Privacy Policy.

Users consent to receive transactional and platform communications.

29. Miscellaneous

  • No partnership or agency relationship is created

  • Rights may not be assigned without consent

  • BASI is not liable for events beyond its control

  • If any provision is invalid, the remainder remains enforceable

  • BASI may update these Terms from time to time. The latest version will always be posted on the Site. BASI will provide reasonable notice of material changes via email or platform notification. Continued use of the Services after such updates constitutes acceptance of the revised Terms.

30. Appendix A — Prohibited Items

The following items may not be listed, sold, or offered on BASI:

  • Counterfeit goods or items infringing intellectual property rights (including trademarks, copyrights, or patents)

  • Items restricted from resale by the manufacturer, distributor, or brand owner, including goods subject to authorized distribution agreements

  • Illegal drugs, drug paraphernalia, or controlled substances

  • Firearms, ammunition, explosives, fireworks, or most weapons

  • Hazardous materials or waste not compliant with applicable law

  • Recalled goods or products subject to government safety recalls

  • Stolen property or goods obtained through unlawful means

  • Government-issued identification, passports, licenses, or official documents

  • Financial instruments, payment cards, or items used for financial fraud

  • Adult sexual content or products intended for sexual stimulation

  • Medical devices requiring prescription, regulatory approval, or professional licensure

  • Human body parts, biological materials, or medical specimens

  • Electronic surveillance tools, spyware, malware, hacking tools, or similar technologies

  • Items that violate privacy or data-protection laws

  • Tobacco products, vaping devices, or regulated nicotine products

  • Alcohol or regulated beverage products requiring licensing

  • Any item whose sale or distribution is prohibited by applicable law or BASI policy

Sellers are responsible for ensuring they have the legal right to sell and transfer ownership of all listed inventory.

BASI reserves the right to update this list at any time and to remove listings that, in its sole discretion, present legal, regulatory, reputational, or safety risks.