VENDOR TERMS & PROCUREMENT POLICY

These Vendor Terms & Procurement Policy (“Policy”) govern the onboarding, engagement, operational conduct, commercial transactions, and compliance requirements applicable to all vendors, suppliers, contractors, service providers, and third-party partners (“Vendor”, “You”, “Your”) dealing with Bani Global Industries LLP (“Company”, “We”, “Us”, “Our”).

This Policy applies across all business verticals, including Laddynest (consumer brand), corporate operations, technology platforms, logistics, B2B procurement, and any other division operating under Bani Global Industries LLP.

The Company maintains a zero-tolerance posture toward fraud, misrepresentation, substandard delivery, or contractual breaches. All Vendors must adhere strictly to:

• Indian statutory laws
• The Company’s procurement protocols
• Ethical business practices
• Contractual terms & conditions
• Data confidentiality frameworks

Engaging with the Company implies full acceptance of this Policy.

Before onboarding, Vendors must:

• Provide complete KYC documentation (PAN, GST, Aadhaar/Director ID where applicable)
• Submit business registration certificates
• Declare ownership and director details
• Confirm absence of ongoing litigation or blacklisting
• Disclose conflict of interest, if any
• Undergo verification by the Company’s Procurement and Legal Departments

The Company reserves the right to reject any Vendor without assigning a reason.

4.1 Mandatory Requirement

No Vendor may supply goods or render services without a valid Purchase Order (PO) issued by the Company.

4.2 PO Format & Communication

POs are issued only through authorized Company channels and email domains.

Any verbal or informal instruction shall not constitute authorization.

4.3 PO Acceptance

A Vendor must acknowledge acceptance of the PO within the stipulated timeframe. Silence shall not be construed as acceptance.

5.1 Pricing

Approved pricing must be clearly stated in the PO. No escalation shall be accepted unless expressly approved in writing.

5.2 Invoicing Requirements

Invoices must include:

• PO number
• Vendor GST details
• Invoice number and date
• HSN/SAC codes where applicable
• Correct billing to: Bani Global Industries LLP, LLPIN: ACI-6373

5.3 TDS & Statutory Deductions

Payments shall be subject to applicable deductions under the Income Tax Act, GST laws, or other relevant statutes.

5.4 Payment Timelines

Payment timelines begin only after:

• Complete delivery of goods/services
• Submission of compliant invoice
• Verification and approval by Procurement & Accounts
• Resolution of discrepancies, if any

6.1 Delivery Obligations

Vendors must ensure:

• Timely delivery
• Packaging compliance
• Accurate documentation
• Delivery to designated Company locations or warehouses

6.2 Quality Standards

All goods/services must conform to:

• Specifications provided in the PO
• Industry standards
• Safety and regulatory requirements

6.3 Inspection & Rejection

The Company reserves the right to:

• Inspect delivered goods
• Reject defective, non-compliant, or substandard materials
• Seek replacement or compensation

Rejection by the Company is final and binding.

Vendors may receive access to Company information, including:

• Customer data
• Designs, tech assets, APIs
• Vendor lists
• Pricing information
• Operational and logistic data

Vendors must:

• Maintain strict confidentiality
• Not share or misuse information
• Implement reasonable security measures
• Report data breaches immediately

Violation shall attract legal action under IT Act and Indian contract law.

All intellectual property—including:

• Designs
• Concepts
• Software code
• UI/UX
• Product samples
• Branding elements

—provided by the Company remains its exclusive property.

Vendors may not copy, replicate, reverse-engineer, or repurpose Company IP for any reason.

Vendors shall not engage in:

• Offering bribes or inducements
• Misrepresentation of credentials
• Overbilling or false invoicing
• Supplying counterfeit or inferior goods
• Collusion with Company employees
• Kickbacks or unauthorized benefits

The Company enforces strict action, including termination and legal proceedings.

The Company may suspend, blacklist, or terminate a Vendor relationship without liability if:

• The Vendor breaches contractual obligations
• Substandard quality is repeatedly observed
• Legal violations are identified
• Fraudulent activity is detected
• Performance is consistently unsatisfactory

Termination shall not prejudice the Company’s legal rights to claim damages.

The Vendor agrees to fully indemnify and hold harmless the Company against all:

• Losses
• Claims
• Damages
• Penalties
• Liabilities
• Legal expenses

arising out of the Vendor’s breach, negligence, defective goods, or statutory violations.

Vendors must comply with all applicable laws, including:

• GST
• Income Tax
• Labour Laws
• Industry Safety Standards
• Contractual Statutes
• Environmental regulations

Non-compliance may result in immediate termination.

Any dispute shall first be attempted to be resolved amicably. If unresolved, disputes shall be subject to the exclusive jurisdiction of the Courts of Delhi, India.

The Company may update this Policy at any time. Continued engagement by the Vendor shall constitute acceptance of updated terms.

Procurement & Legal Department
Bani Global Industries LLP
Email: legalteam@baniglobal.in

Registered Office:
203, A/3, Kundan Mansion, Turkman Gate,
Asaf Ali Road, Central Delhi – 110002