Legal

Terms of Service

Last updated: July 2026  ·  Effective: July 2026

Welcome to Circlit. These Terms of Service ("Terms") constitute a legally binding agreement between you and Circlit Technologies Pvt. Ltd.("Circlit", "we", "us", or "our") governing your access to and use of the circlit.in website, platform, and related services.

Contents

01. Acceptance of Terms

By registering an account or using the Circlit platform, you agree to be bound by these Terms and our Privacy Policy. If you are accessing the platform on behalf of a company or other legal entity, you represent that you have the authority to bind that entity to these Terms.

02. Eligibility and Account Registration

Circlit is a B2B platform intended for business users only. To access certain features (such as the Excess Exchange or RFQ broadcasting), you must register for an account and undergo our business verification process.

• You must provide accurate, current, and complete information during registration.
• Sellers must provide a valid GSTIN and undergo verification.
• You are responsible for safeguarding your account credentials.

03. Circlit's Role as a Marketplace

Circlit acts strictly as an intermediary and online marketplace connecting buyers and sellers of active electronics components. We do not own the inventory listed on the platform (unless explicitly stated otherwise) and we are not a party to the actual sale contract between buyers and sellers.

04. Seller Obligations

As a seller on the Circlit platform, you agree that:

• All listed components are genuine, accurately described, and in the condition stated.
• You will dispatch goods within the agreed timeframe (standard 3 business days) upon receipt of payment confirmation.
• You will upload valid courier tracking details to the platform upon dispatch.
• You are solely responsible for generating tax invoices for the buyer as per GST laws.

05. Buyer Obligations

As a buyer on the Circlit platform, you agree that:

• You will complete payment securely through the platform's escrow system upon accepting a deal.
• You have a 5-day inspection window from the date of delivery to inspect and test the components.
• If no dispute is raised within the 5-day window, the transaction is deemed complete and funds will be released to the seller.

06. Fees and Payments

Joining Circlit and browsing listings is free. We charge a commission fee on successful transactions made through the Excess Exchange. The fee structure will be clearly displayed before you finalize a listing or purchase. All payments are processed securely through our escrow partner.

07. GST and Tax Obligations

Buyers and sellers are solely responsible for determining and fulfilling their tax obligations, including GST, applicable to transactions made on the platform. Circlit facilitates the transaction but does not provide tax advice.

08. Prohibited Content and Conduct

You may not use the platform to sell counterfeit, stolen, or illegally obtained components. You may not engage in fraudulent activity, manipulate prices, or bypass the platform to complete a transaction initiated on Circlit to avoid fees.

Violation of these rules may result in immediate account suspension or permanent ban, removal of listings, and referral to law enforcement authorities where appropriate. Where a violation relates to a transaction in progress, Circlit may withhold disbursement of escrow funds pending investigation and resolve the underlying transaction in accordance with the Dispute Resolution process in Section 11 and the terms of our escrow partner. Escrow funds are held for the benefit of the transacting parties and will be disbursed to the party entitled to them following resolution; they are not forfeited to Circlit as a penalty.

09. Intellectual Property

The Circlit platform, including its design, code, logo, and BOM Intelligence algorithms, are the exclusive property of Circlit Technologies Pvt. Ltd. You may not copy, modify, or reverse engineer any part of the platform.

10. Limitation of Liability

To the maximum extent permitted by law, Circlit shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, resulting from your use of the platform or any transactions conducted through it.

11. Dispute Resolution

Exchange Disputes (between buyers and sellers)

Buyers must raise transaction disputes within the 5-day inspection window following delivery, through the dispute mechanism on the platform. Circlit will review evidence submitted by both parties — including photographs, inspection reports, test results, and deal documentation — and issue a determination within 7 business days.

Circlit's determination governs the disbursement of escrow funds for the disputed transaction and both parties agree to accept it for that purpose. This determination is without prejudiceto either party's right to pursue remedies against the other party under applicable law, including arbitration or civil proceedings. Circlit acts as a neutral facilitator in Exchange disputes and is not a party to the underlying sale contract between buyer and seller.

Platform Disputes (between you and Circlit)

Any dispute between you and Circlit arising out of these Terms or your use of the platform shall first be attempted to be resolved through good-faith negotiation. If not resolved within 30 days, the dispute shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, by a sole arbitrator mutually appointed by the parties. The seat and venue of arbitration shall be Mumbai, Maharashtra, and proceedings shall be conducted in English. Nothing in this clause limits either party's right to seek urgent interim relief from a court of competent jurisdiction.

12. Termination

We reserve the right to suspend or terminate your account at our discretion, with or without notice, if you violate these Terms or engage in conduct detrimental to the platform or other users.

13. Changes to Terms

We may modify these Terms at any time. We will notify you of material changes. Your continued use of the platform after such modifications constitutes your acceptance of the updated Terms.

14. Contact Us

For support, account, or transaction queries: