1. FORMATION. A transaction forms when a binding buy order is accepted through the platform. The order record and final confirmation capture the product, price, quantity, delivery, inspection, risk-of-loss, payment, and acceptance terms.
2. FUNDING. Buyers fund transactions from their URMRKT wallet. The full charge is held at order placement and committed at execution; the seller is settled in staged tranches as the transaction performs (execution, documentation, delivery, and final acceptance).
3. DELIVERY. Unless the transaction record states otherwise, pilot transactions use: Seller-Managed Delivery — Transportation Included in Purchase Price. Seller will arrange and manage transportation to the delivery location stated in the transaction record; all agreed loading, transportation, and delivery charges are included in the total purchase price. URMRKT is not the carrier, freight broker, shipper, warehouse operator, or insurer and does not take possession or control of the goods.
4. RISK OF LOSS. Seller bears the risk of loss or damage until the hay is delivered to the stated delivery location and made available for unloading. Risk of loss then passes to Buyer, subject to Buyer's right to inspect the hay and report a timely claim for nonconformity.
5. INSPECTION AND ACCEPTANCE. Buyer may inspect the goods at delivery. Buyer must note visible shortages, damage, or material nonconformity on the delivery record and notify Seller and URMRKT within the acceptance window shown on the order. Acceptance does not waive a claim for a latent condition that could not reasonably have been identified during the delivery inspection. The final settlement tranche releases on the buyer's acceptance, or automatically when the acceptance window (48 consecutive clock hours from delivery or pickup confirmation) expires without a timely dispute.
6. DISPUTES. A timely dispute freezes the disputed settlement amount until resolution under the platform's dispute process. Ordinary disputes do not automatically reverse previously settled amounts.
7. RECORDS. The transaction record, audit trail, settlement statements, and remittance advices are the authoritative record of the transaction.