Reasonableness of Listed Price #
Sellers shall ensure that the Listed Price for a product does not exceed the prevailing market rate by more than the applicable Reasonable Variance determined by LX India. For the purposes of this Policy, “Reasonable Variance” means the permissible difference between the Listed Price and the applicable Market Rate, as determined in accordance with the pricing methodology adopted by LX India from time to time.
LX India shall determine the market rate (“Market Rate”) for a product by reference to the prices of the same or substantially comparable products available on designated reference marketplaces or through other reliable market information.
In determining the Market Rate, LX India may reasonably consider factors including the brand, manufacturer, model, SKU, specifications, features, condition, quantity, size, geographical market, product availability, applicable taxes, discounts, and other relevant market factors.
Where the Listed Price is determined to exceed the applicable Market Rate by more than the Reasonable Variance, LX India reserves the right to review and correct the Listed Price and, to revise the Listed Price downward to bring it within the applicable Reasonable Variance of the Market Rate.
Before or promptly upon revising a Listed Price under this Clause, LX India shall notify the seller of the revision made, where applicable, the basis for the revision, and the process available to the seller for raising a dispute or requesting a review.
Where immediate action is reasonably required due to illegality, fraud, safety concerns, regulatory requirements or other urgent circumstances, LX India may take appropriate action without prior notice.
