1. Scope of Agreement
This agreement outlines the terms of the partnership between Vinkol Logistics (“Vinkol”) and its business-to-business (B2B) providers (“Logistics Partners”). By entering into this agreement, the Logistics Partner agrees to adhere to the terms below:
2. Standard Insurance Coverage (GIC)
Vinkol provides standard insurance coverage (GIC) solely for customers’ missing or undelivered items to the tune of ₦50,000.00 per trip.
Vinkol will provide complimentary Company Poly Mailers or Shipping bags to its Partners on a time off basis or on quarterly (subject to company’s review).
With our centralized database and functionality, Vinkol offers invoice and real-time tracking for Business Partner’s financial performance to aid their decision making.
Applicability of Insurance Coverage
This insurance coverage only applies in cases of proven theft or damage occurring during the course of the trip, provided that:
- The loss or damage was not caused by the rider’s negligence.
- The incident is no fault of the Logistics Partner or Vinkol Logistics.
- Claims must be submitted with sufficient proof of loss or damage for verification within 24 hours.
3. Partnership Term and Renewal
The partnership is valid for five (5) years, subject to yearly renewal based on performance, compliance, and mutual agreement.
Either party may terminate the agreement by providing a 30-day written notice after the first year.
4. Revenue Sharing
Logistics Partners agree to remit 20% of revenue from every delivery registered under Vinkol Logistics Group.
Payment must be made promptly and tracked using the systems provided by Vinkol.
5. Liability and Responsibilities
Vinkol is not liable for:
- Any repair or maintenance costs for riders’ vehicles.
- Injuries or accidents sustained by riders during operations.
- Any external dealings or misconduct between Logistics Partners or riders and their clients. Subsidiary companies bear full responsibility for their conduct.
Vinkol’s liability is limited solely to ensuring:
- The delivery of parcels from the pick up point to the agreed destination.
6. Compliance
- Logistics Partners are required to comply with all local laws, regulations, and policies related to logistics operations.
- Any misconduct or breach of terms may result in the termination of this agreement.
7. Dispute Resolution
All disputes arising from this agreement will be resolved through mediation. If mediation fails, the dispute will be resolved in accordance with Nigerian law.