QuantProc logoQuantProc
Get startedBook a demo
QuantProc / Legal / Marketplace Terms
ProcureAI

Marketplace Terms

Rules governing vendors (sellers) and buyers (clients) transacting on the ProcureAI sealed-bid B2B procurement marketplace — from KYC through award, payment and dispute resolution.

Last updated: 30 June 2026

1. About ProcureAI Marketplace

ProcureAI is a technology platform operated by ADS Infra Solutions Pvt Ltd (trading as QuantProc) that connects verified B2B buyers ("Clients") with verified suppliers ("Vendors") through AI-assisted, sealed-bid Request for Quotation (RFQ) workflows. These Marketplace Terms govern all activity on ProcureAI and supplement the master Terms of Service. In case of conflict on marketplace matters, these Marketplace Terms prevail.

ProcureAI is not a party to transactions between Clients and Vendors. It provides the platform, matching, and trust infrastructure. QuantProc does not guarantee the quality, delivery, or performance of goods or services transacted through the platform.

2. Eligibility and KYC

All participants — whether Client or Vendor — must be registered businesses operating lawfully in India. Individuals acting in a personal (non-business) capacity are not eligible.

Mandatory KYC verification is required before any transaction can be initiated or a bid submitted. KYC is conducted via:

  • Aadhaar OKYC — for identity verification of the authorised signatory (consent-based, OTP-verified).
  • GST verification — to confirm the business is a registered taxpayer with a valid GSTIN.

QuantProc may, at its discretion, require additional verification documents (PAN, MSME registration, trade licence) for high-value transactions or where risk signals are detected. Participants who fail or refuse KYC will be restricted from the platform. Providing false KYC documents is a criminal offence and will result in permanent suspension and reporting to law enforcement.

3. Vendor registration and profile

  • Vendors must select the industry categories and sub-categories in which they supply goods or services. Misrepresenting your supply category to receive irrelevant RFQs is prohibited.
  • Vendor profiles display: business name, GSTIN, categories, operational locations, star rating (derived from completed transaction reviews), and verified badge status.
  • Vendors are responsible for keeping their profile — including contact details, categories, and location — accurate and current. QuantProc may correct or remove inaccurate information.
  • Vendors remain anonymous to specific Clients until an RFQ is awarded; the sealed-bid system ensures bid amounts are not visible to competing Vendors during the bidding window.

4. Client registration and RFQ creation

  • Clients must complete KYC before posting RFQs. Each RFQ must describe the requirement accurately and in sufficient detail for Vendors to price correctly.
  • Clients may attach a Bill of Quantities (BOQ), Approved Make List, technical specifications, and drawings to an RFQ.
  • RFQs are distributed by ProcureAI to Vendors matched by category, sub-category, and operational location. Clients may not selectively direct RFQs to specific Vendors to circumvent the sealed-bid process.
  • Clients are responsible for the completeness and accuracy of the RFQ. QuantProc is not liable for errors or omissions in Client-prepared RFQ documents.

5. The sealed-bid process

ProcureAI uses a sealed-bid (first-price sealed-bid) model:

  • All qualifying Vendors receive the RFQ simultaneously. Each Vendor submits one bid within the RFQ closing window.
  • No Vendor can see any other Vendor's bid at any time — before, during, or after the bidding window. The platform is architecturally designed to prevent this.
  • On close, bids are ranked by price (L1 = lowest price). The Client is shown all bids and may award to L1 or, with documented justification, to another Vendor.
  • Bids are binding for the validity period stated in the RFQ (default: 30 days). A Vendor may not withdraw a bid after submission without written consent from QuantProc.
  • The Client's award decision is final. QuantProc does not influence award decisions.

6. Bid integrity and anti-collusion

The following are strictly prohibited and constitute grounds for immediate permanent suspension and potential legal action:

  • Bid rigging or collusion — coordinating bids, prices, or non-participation with other Vendors.
  • Shill bidding — submitting bids with no genuine intent to supply, to inflate apparent competition.
  • Bid withdrawal abuse — repeatedly withdrawing bids to disrupt the process.
  • Kickback arrangements — offering or receiving payments, gifts, or other consideration in exchange for bid information or favourable award.

QuantProc employs algorithmic monitoring to detect collusion patterns. Suspicious activity is reported to the Competition Commission of India where appropriate.

7. AI features and limitations

ProcureAI uses AI (powered by the Claude API) to assist with: BOQ line classification into supply categories; approved make mapping; and vendor-to-requirement matching. AI outputs are advisory only. Clients and Vendors are responsible for reviewing AI-generated classifications and must not rely on them as professional procurement or technical advice. QuantProc is not liable for errors in AI outputs.

8. Tokens and platform fees

  • Certain ProcureAI features (AI BOQ processing, bulk RFQ dispatch) are powered by QuantProc tokens, purchased via Razorpay in prepaid packs.
  • Tokens are non-transferable, non-refundable once consumed, and expire 12 months after purchase.
  • Unconsumed token balances may be refunded within 7 days of purchase — see the Refund Policy.
  • QuantProc reserves the right to introduce transaction-based platform fees on successful awards. Any such fees will be announced with at least 30 days' notice.

9. Ratings and trust

  • Both Clients and Vendors are required to submit a rating (1–5 stars + written review) within 14 days of order completion. Failure to rate may restrict future platform access.
  • Ratings must reflect genuine experience. Fake, coerced, or incentivised ratings are prohibited under the Acceptable Use Policy.
  • Vendor star ratings are visible on their public profile and feed into ProcureAI's matching algorithm — higher-rated Vendors receive priority in matched RFQ distribution.
  • Ratings may be reported for review. QuantProc may remove ratings that violate these rules.

10. Payment terms

  • All payments between Clients and Vendors are conducted directly between the parties and are not processed through QuantProc unless a specific escrow feature is enabled.
  • GST-compliant tax invoices must be issued by the supplying Vendor to the Client as required by the CGST Act 2017.
  • QuantProc platform token purchases are processed via Razorpay and are subject to Razorpay's payment terms.
  • In the event of payment disputes between Clients and Vendors, QuantProc may assist with mediation but is not liable for unpaid amounts.

11. Prohibited conduct

In addition to the Acceptable Use Policy, the following are prohibited on the marketplace:

  • Transacting in goods or services that are illegal, counterfeit, or require a licence that you do not hold.
  • Using the marketplace to launder money or conduct fraudulent transactions.
  • Circumventing the platform to transact directly with a counterparty you discovered through ProcureAI in order to avoid platform fees (within 12 months of the introduction).
  • Creating multiple accounts to gain unfair advantage in matching or ratings.

12. Dispute resolution

Step 1 — Platform mediation. Either party may raise a dispute within 30 days of the triggering event by emailing crm@quantproc.com. QuantProc will review available platform data (bids, communications, ratings) and issue a non-binding recommendation within 10 business days.

Step 2 — Arbitration. If mediation fails, either party may refer the dispute to a sole arbitrator appointed by mutual agreement under the Arbitration and Conciliation Act 1996. The seat of arbitration is Gurgaon, Haryana. The language of arbitration is English.

Step 3 — Courts. If arbitration is not agreed within 30 days, disputes shall be subject to the exclusive jurisdiction of the courts of Gurgaon, Haryana.

13. Limitation of liability

QuantProc's aggregate liability arising from marketplace operations is limited to the token fees paid by the claiming party in the 3 months preceding the claim. QuantProc is not liable for: the quality or delivery of goods and services supplied by Vendors; Client payment obligations; or losses arising from bid decisions.

14. Changes

QuantProc may update these Marketplace Terms with 30 days' notice. Continued use after the effective date constitutes acceptance.

15. Contact

Marketplace queries: crm@quantproc.com · For KYC issues: privacy@quantproc.com