Buyer Board of Directors - Terms of Reference

1. Purpose:

The Buyer Board at Reroko is established to provide guidance, oversight, and strategic direction for the effective functioning of the online buyer and supplier platform. The Board aims to represent the interests of buyers, enhance their experience, and contribute to the overall success of Reroko as a for-profit business.

2. Composition:

The Buyer Board shall consist of individuals representing diverse backgrounds and experiences as buyers. Members may include representatives from various consumer segments, industry experts, and professionals with a keen understanding of consumer behavior and market trends.

3. Roles and Responsibilities:

  1. Strategic Input: Provide strategic guidance and input on matters related to buyer satisfaction, marketplace dynamics, and overall user experience.
  2. Feedback Mechanism: Act as a conduit for buyer feedback, ensuring that the concerns, preferences, and suggestions of the broader buyer community are effectively communicated to the Reroko management.
  3. Policy Advocacy: Contribute to discussions on policies that impact buyers, advocating for fair and transparent practices that align with the values and expectations of Reroko's user base.
  4. Innovation Support: Encourage and support initiatives that enhance the shopping experience, promote innovative features, and keep Reroko at the forefront of industry trends.

4. Voluntary Positions:

  1. Chairperson: The Chairperson shall preside over board meetings, facilitate discussions, and represent the Buyer Board in liaisons with Reroko's management. This position is voluntary, reflecting a commitment to the success of Reroko beyond financial incentives.
  2. Vice-Chairperson: The Vice-Chairperson shall support the Chairperson in their duties and assume responsibilities in their absence. This position is voluntary and underscores the dedication of the Board to the success of Reroko.
  3. Committee Heads: Voluntary positions may be established for members to lead specific committees, such as the User Experience Committee, Policy Advocacy Committee, or Innovation Support Committee, based on the evolving needs of the platform.

5. Meetings:

The Buyer Board shall convene regular meetings to discuss strategic matters, review platform performance from a buyer perspective, and address key challenges. Additional meetings may be called as necessary, and attendance is expected from all Board members given the voluntary nature of their roles.

6. Term Limits:

Voluntary positions on the Buyer Board shall have a term limit of 1 year, with the possibility of reappointment for one additional term. This ensures a regular infusion of fresh perspectives while allowing experienced members to contribute consistently.

7. Code of Conduct:

All members of the Buyer Board shall adhere to a code of conduct that promotes transparency, accountability, and ethical behavior in their roles. This includes managing conflicts of interest and maintaining confidentiality.

8. Amendments:

These terms of reference may be amended by a majority vote of the Buyer Board, with due consideration for the interests of buyers and the overall success of Reroko. Any proposed amendments shall be communicated to all board members in advance. Amendments to the terms of reference will be made with a focus on enhancing the buyer experience and the platform's sustainability.

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