Terms and conditions
Recycling Bank platform, closed governance system. Last updated 2026.
This document constitutes a binding agreement between Recycling Bank ("the Platform") and any user who registers or uses the Platform's services ("the User"). By using the Platform, the User acknowledges acceptance of these Terms.
Definitions
- —The Platform: Recycling Bank.
- —Seller / Producer: The entity that owns recyclable materials.
- —Buyer / Recycler: The entity purchasing materials for recycling.
- —Carrier: The logistics service provider contracted by the Platform, responsible for weighing and documentation.
- —Reference Weight: The weight recorded by the Carrier at loading.
- —Escrow Wallet: The financial escrow account held by the Platform.
Platform Role & Closed Governance System
The Platform acts as Prime Contractor, managing the relationship between Seller, Buyer, and Carrier. The Platform operates a Double-Blind Marketplace: buyer and seller identities are concealed from each other, and all transactions are executed through operational codes.
Core Rules
To protect the rights of all parties and govern recycling operations, the following rules are an integral part of these Terms and apply immediately to every transaction:
Digital Governance
The Platform acts as the Prime Contractor and is responsible for managing payments and operational flows between all parties. All financial and operational interactions executed through the Platform are administered and settled by the Platform in accordance with these Terms.
Data Accuracy
The User (or authorized employee) is responsible for the accuracy and completeness of all shipment data and images uploaded. Uploaded data and images constitute the primary binding reference for inspection, acceptance, and settlement. Any error or omission is the responsibility of the submitting party.
Approved Weight as Final Reference
For dispute resolution and financial settlement, the weight recorded by the Platform-approved Carrier at loading is the binding reference for all parties, unless manipulation or error is proven under the Platform's investigation procedures.
Privacy and Market Neutrality
The Platform maintains the confidentiality of buyer and seller identities to preserve market neutrality and prevent off-platform dealings. The Platform's privacy and data protection policies apply to all personal and business data processed through the service.
Financial Security — Escrow
The Platform uses an escrow mechanism. Funds are reserved and released 48 hours after confirmed delivery unless a justified dispute is raised through the Platform's dispute process.
Obligations & Responsibilities
Seller Obligations
- —The Seller guarantees the accuracy and completeness of all data (type, estimated weight, photos, condition, address).
- —The Seller is obligated to sort, prepare, and hand over materials to the Carrier at the agreed time and location.
- —The Seller bears transport, return, and administrative costs if a shipment is rejected for non-compliance, per the penalties schedule.
Buyer Obligations
- —The Buyer guarantees possession of the required licenses to handle the relevant waste type.
- —The Buyer must inspect the shipment upon arrival and raise any objection through the Platform within the specified window.
- —The Buyer's balance must cover the estimated shipment value before the Carrier departs.
Carrier Obligations
- —The Carrier must hold required licenses, insurance, and calibrate scales periodically.
- —The Carrier is responsible for documenting weight, photos, and GPS data and uploading them within the required timeframe.
- —The Carrier bears liability for any damage or loss during transit unless proven otherwise.
Escrow & Settlement Mechanism
- —The Buyer pays the shipment value in advance to the Platform's escrow account. Funds remain held until delivery is confirmed or the objection window expires.
- —If the Buyer does not raise an objection within 48 hours of confirmed delivery, the Platform automatically releases funds to the Seller.
- —The Platform reserves the right to deduct Carrier dues, Platform fees, and operational penalties from the wallet or held amount.
Quality Inspection & Dispute Resolution
- —In case of a dispute, the Platform freezes the amount and initiates an internal investigation gathering evidence from Seller, Buyer, and Carrier (photos, weight tickets, GPS, loading/unloading records).
- —The Platform may request third-party inspection or certified weighing; inspection costs are charged to the offending party.
- —The Platform's decision in disputes is final and binding unless the parties agree otherwise or the matter is referred to a judicial authority.
Liability & Indemnification
- —The Platform bears no liability for indirect damages or lost profits.
- —The Platform's liability for any claim resulting from gross negligence or intentional breach is limited to the relevant transaction amount.
- —The User agrees to indemnify the Platform against any claims arising from the User's breach of these Terms or inaccurate data.
Operational Penalties
- —Direct contact attempt between parties: account suspension and financial penalty.
- —Weight discrepancy caused by Carrier: Carrier liability and compensation.
- —Shipment rejection for non-compliance: deduction from Seller proceeds to cover transport, return, and administrative fees.
- —Order cancellation after Carrier dispatch: deduction of trip cost plus administrative fees.
General Provisions
- —The User may close their account after settling all obligations. The Platform reserves the right to suspend or close accounts upon violation.
- —The Platform reserves the right to amend these Terms after notifying Users. Continued use constitutes acceptance of amendments.
- —These Terms are governed by the laws of the Kingdom of Saudi Arabia and the jurisdiction of Saudi courts, unless the parties agree to arbitration.