Terms of Service — DRAFT (Current Source)

Status: first-pass draft prepared by Claude (AI), not a lawyer. Every clause below needs attorney review before publication — particularly the limitation of liability and indemnification sections, which only work if drafted correctly for South African law. Bracketed items marked `[TODO]` need a decision or a fact before this is usable.

Table of Contents

• Introduction & Acceptance
• Definitions
• Nature of the Service
• Eligibility & Account Registration
• User Responsibilities & Independent Verification
• No Financial Transactions; No Agency
• Fraud & Fake Tender Warning
• Disclaimers
• Limitation of Liability
• Indemnification
• Intellectual Property & Confidentiality
• Suspension & Termination
• Changes to the Service or These Terms
• Governing Law & Dispute Resolution
• Contact Information

1. Introduction & Acceptance

These Terms of Service ("Terms") govern access to and use of the Current Source platform (the "Platform"), operated by Current Source Trading (Pty) Ltd, registration number 2017/2049/07 ("Current Source", "we", "us"). By creating an account or using the Platform in any capacity — as a client submitting requests for quotation ("RFQs"), as a supplier submitting pricing, or otherwise — you ("User", "you") agree to be bound by these Terms. If you do not agree, do not use the Platform.

[TODO: confirm the registered entity name/number to use — the brand dropped "Trading" publicly on 2026-09-01 but the legal entity name may not have changed; use whichever is actually correct on CIPC records.]

2. Definitions

• "Platform" — the Current Source website and any associated services for submitting,

matching, quoting on, and evaluating RFQs.

• "Client" — a User who submits an RFQ seeking pricing or services from Suppliers.
• "Supplier" — a User who submits pricing in response to an RFQ they have been invited to.
• "RFQ" — a Request for Quotation submitted by a Client through the Platform.
• "Content" — any information, document, pricing, or other material submitted by a User.

3. Nature of the Service

Current Source operates as an information and matching service. The Platform allows Clients to describe work or goods they require, invites Suppliers who may be able to provide them, and allows those Suppliers to submit pricing. Current Source is not a party to any agreement, order, contract, or transaction formed between a Client and a Supplier. Any such agreement is solely between the Client and the Supplier, on whatever terms they agree between themselves. Current Source does not broker, negotiate, approve, or guarantee any such agreement.

4. Eligibility & Account Registration

You must provide accurate, current information when registering, and keep it up to date. Accounts are intended for use by businesses and their authorised representatives; you confirm you have authority to act on behalf of the company you register. Current Source may, at its discretion, restrict, suspend, or decline to activate any account (see Section 12).

5. User Responsibilities & Independent Verification

You are solely responsible for independently verifying the identity, legitimacy, and trustworthiness of any other User you engage with through the Platform. This includes, without limitation, verifying a company's registration status, trading history, references, and the authenticity of any RFQ, tender, or quote. Current Source does not conduct background checks, verify company registration, or guarantee that any User is who they claim to be, beyond the basic account registration process described in these Terms.

6. No Financial Transactions; No Agency

Current Source does not process, hold, or facilitate payment for any transaction between Users. No money changes hands through the Platform. Current Source is not an agent, broker, or representative of any Client or Supplier, and has no authority to bind either to any agreement.

7. Fraud & Fake Tender Warning

South Africa has a documented history of fraudulent tenders and fake suppliers operating under the appearance of legitimate procurement activity. Current Source does not guarantee the authenticity of any RFQ, tender, supplier, or client on the Platform, and strongly encourages every User to independently verify any party they are asked to pay, supply goods to, or enter an agreement with — including verifying company registration via the CIPC, checking references, and being alert to requests for upfront payment, unusual urgency, or terms that seem inconsistent with normal business practice. Current Source accepts no liability for losses arising from fraudulent activity carried out by a User or third party, including impersonation of Current Source itself, a Client, or a Supplier.

8. Disclaimers

The Platform is provided "as is" and "as available." Current Source does not warrant that pricing submitted by any Supplier is accurate, competitive, complete, or will remain available; that any RFQ is genuine or will result in a completed transaction; or that the Platform will be uninterrupted, error-free, or secure from all possible threats. [TODO: attorney to confirm whether South African consumer-protection law requires any warranties here that cannot lawfully be disclaimed, particularly if any natural-person consumers ever use the Platform rather than only businesses.]

9. Limitation of Liability

[TODO — this clause only has legal effect if drafted correctly; the paragraph below states the business intent, not working legal language.] To the maximum extent permitted by law, Current Source's total liability arising from or related to use of the Platform is excluded, and in any case where liability cannot be excluded, is limited to [a nominal amount / the fees paid by the User in the preceding period, if any — TODO: decide]. Current Source is not liable for: (a) any pricing, quality, delivery, or performance issue arising from an agreement between a Client and a Supplier; (b) any loss arising from fraudulent or fake listings, RFQs, or Users; (c) indirect, incidental, consequential, or special damages of any kind, including lost profit or lost business opportunity.

10. Indemnification

Each User indemnifies and holds harmless Current Source, its directors, employees, and agents against any claim, loss, damage, or expense (including reasonable legal costs) arising from: (a) that User's breach of these Terms; (b) that User's submission of false, misleading, or fraudulent information or pricing; (c) any dispute, loss, or damage arising between that User and any other User; (d) that User's violation of any applicable law, including POPIA, in their use of the Platform.

11. Intellectual Property & Confidentiality

RFQ content and quote content remain the property of the User who submitted it. By submitting an RFQ, a Client permits Current Source to share that content with invited Suppliers for the purpose of obtaining pricing. [TODO: decide whether to add a confidentiality clause preventing a Supplier from using RFQ details for any purpose beyond quoting — likely wanted, especially once real suppliers with commercial interests are on the Platform.]

12. Suspension & Termination

Current Source may suspend or terminate any account, at its discretion, including for suspected fraud, misuse, or breach of these Terms. A suspended account's login continues to work but is restricted from submitting new RFQs or quotes; a terminated account's profile and related data may be removed. [This already matches how the block/unblock feature in the admin portal actually works — the legal language should stay aligned with that as the product evolves.]

13. Changes to the Service or These Terms

Current Source may update these Terms or the Platform at any time. [TODO: decide on notice method — e.g. posted update + "last updated" date, or email notice for material changes.]

14. Governing Law & Dispute Resolution

These Terms are governed by the law of the Republic of South Africa, and the parties submit to the jurisdiction of the South African courts. [TODO: attorney to advise whether arbitration or a specific court/jurisdiction clause is preferable given the likely size and nature of disputes.]

15. Contact Information

Questions about these Terms can be directed to [TODO: support/legal contact email — likely sales@currentsourcetrading.com or a dedicated address once the domain situation is settled].

Additional terms for clients

[DRAFT, for legal review]

• You are responsible for the accuracy and completeness of each RFQ you submit, including quantities, specifications, brands and delivery details.
• Current Source may review an RFQ and send it back to you for changes before it is sent to suppliers. Suppliers are only shown the details needed to quote.
• Supplier pricing shown to you before the evaluation stage is anonymised. Supplier identity and contact details are shared with you when an evaluation is completed, solely so you can decide whether to engage them.
• You must not use supplier pricing or details for any purpose other than evaluating your own RFQ, and must not pass an evaluation document on to a third party.
• Any agreement to buy goods or services is between you and the supplier. Current Source is not a party to it and does not guarantee a supplier's price, quality or delivery.

Additional terms for suppliers

[DRAFT, for legal review]

• You may only quote on RFQs you have been invited to. Prices, brands, part numbers and lead times you submit must be accurate and must be something you are able to supply.
• A submitted quote cannot be changed unless Current Source asks you to revise it.
• Your company name, contact details and B-BBEE status are shared with the client when an evaluation is completed, so the client can decide whether to engage you.
• You must not contact a client directly about an RFQ outside the platform before the client has received the evaluation.
• Any agreement to supply is between you and the client. Current Source is not a party to it and is not responsible for payment, delivery or performance.