TRUSTED.SALE PAYMENTS - TERMS OF SERVICE
Using Trusted.Sale Payments
What It Does
Trusted.Sale Payments allows Sellers to accept online debit and credit card payments from Buyers who want to pay for their goods or services listed on our Service (“Payment Transaction”), have those funds credited to Seller’s payment account (“Payment Account”), and subsequently have those funds Deposited into Seller’s designated bank account (“Bank Account”).
Buyers may authorize a Payment Transaction with any US-issued debit or credit card including Visa, MasterCard, American Express, JCB, Discover, and Diners Club; and most non-US issued credit cards including Visa, MasterCard, and American Express (collectively “Accepted Forms of Payment") and additional payment methods as made available.
What Is It For
Trusted.Sale Payments offers a method for Buyers and Sellers to complete Payment Transactions with each other (collectively "Users"). Trusted.Sale is not the purchaser of the Seller's goods or services. It is up to the Seller to decide whether or not to offer goods or services to Buyers connected to the Service, and it is up to the Buyer to decide whether or not to accept goods or services from any Seller contacted through the Service. Any decision by a User to offer or accept goods or services once connected through the Trusted.Sale platform is a decision made in such User’s sole discretion.
Who Can Use Trusted.Sale Payments
Registering for a Seller Payment Account
To register as a Seller, you must provide additional personal information in your account profile settings. On the account page titled "Profile" you must provide your legal name, home address, phone number, social security number, and valid Bank Account information. You may also elect to provide additional information including a valid debit or credit card, social media links or other information to use the service as required.
If you are a business, you must provide your legal business name, and tax identification number, which may be a Employer Identification Number (EIN) or Individual Taxpayer Identification Number (ITIN). To register a business as a Seller, an individual (you) must agree to this Agreement on behalf of the business. If you have so agreed, the term “you” will mean both you, the natural person, and the business organization that you represent.
You represent and warrant that: (a) if you are a business, you are duly organized, validly existing and in good standing under the laws of the country in which your business is registered and that you are registering for the Services within such country; (b) you have all requisite right, power and authority to enter into this Agreement and perform your obligations hereunder; and (c) any information provided or made available by you or your affiliates to Trusted.Sale is at all times accurate and complete.
Accuracy of Seller Payment Account Information
The information you provide us during registration must be true and accurate, and you must maintain and update that information as applicable. Sellers will not impersonate any person or use a name he or she is not legally authorized to use. Seller authorizes us, and authorized agents, to verify his or her information (including any updated information) by accessing public records and using a third party identity verification service in order to approve their Seller Payment Account. We may at any time require you to provide any financial, business or personal information reasonably required to verify your identity. Seller also authorizes us to verify his or her information from time to time while Seller is using the Payment Platform and Trusted.Sale reserves the right to conduct periodic reviews of Seller’s registration information and usage of the Payment Platform.
Prohibited Listings and Businesses
Privacy and Security
Security is one of the biggest considerations in everything we do. When using Trusted.Sale Payments, social security and tax ID numbers, credit card and bank account numbers are securely encrypted, transmitted to and stored with Stripe, our payment processor. Absolutely no credit card, bank account, social security and tax ID numbers are stored on our servers nor do we have access to the un-encrypted data. Stripe has been audited by a PCI-certified auditor, and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available. Any other sensitive data that is stored on our servers is securely encrypted.
Credit Card Fraud
User’s hereby acknowledge that Trusted.Sale will bear no risk of credit card fraud (e.g. a fraudulent purchase arising from the theft and unauthorized use of a third party's credit card information) occurring in connection with Payment Transactions. In the event Seller is found to be complicit with any payment fraud, Trusted.Sale will not be liable. Trusted.Sale reserves the right to decline Payment Transactions that we have reason to believe to be high risk, fraudulent, or in violation of any of our terms or policies.
A Payment Transaction takes place using Stripe functionality available in our Service. A Payment Transaction is initiated once a Seller provides a Buyer with a Trusted.Sale Payment Link. This link may be provided to the buyer via the Service’s messaging platform or through any other means as dictated by the Seller.
All Payment Transactions are in United States Dollars (USD). If the Seller's listing price is in another currency, the price must be negotiated in USD in the Terms of Sale. If the Buyer is Authorizing Payment with a non-US credit card, the charge will show as USD on your statement. International Buyers should note that your bank institution may apply additional fees for charges in USD.
Seller: Request Payment
Once Buyer and Seller agree upon the Terms of Sale, the Seller creates a Payment Link using the “Create Link” functionality.
Buyer: Authorize Payment
Once the Seller Requests Payment, Buyer will see a "Pay " button in page that is loaded when the Buyer clicks on the Payment Link. Buyer may authorize Payment by using the Pay Now functionality. Once Payment Authorization is completed, funds will be released to the Seller according to the terms of service.
Seller: Confirm Delivery
Once the Buyer authorizes payment, Seller agrees to deliver, ship, or arrange for pick up (“Delivery”) sold goods or services in a timely manner as agreed to by the parties.
Completed Payment Transaction
A Payment Transaction becomes complete (“Completed Payment Transactions”) and funds are credited to the Seller Payment Account once payment is received from the Buyer.
Returns and Refunds
Seller is not required to accept returns in simple cases of buyer's remorse. Seller is required to accept returns if goods or services sold are substantially not as advertised, which includes but is not limited to knowing or unknowing false representations regarding the goods, and Seller is responsible for the costs of return delivery (if applicable), unless otherwise agreed upon with Buyer.
Sellers may provide refunds or adjustments to Buyers for their Payment Transactions made through the Service by contacting Trusted.Sale Customer Support at support@Trusted.Sale
Funds to cover refunds will be deducted from Seller’s Payment Account Balance (as defined below). In the event of insufficient funds to cover the amount of the refund, Seller’s credit card on file will be charged.
If Buyer and Seller agree to a return, Buyer must return the item to the Seller within 5 business days and in the condition they received it. If the return requires shipping, Buyer must supply a tracking number. Once the item is received by Seller, the refund will be processed. If Buyer does not send the item back within 30 days, a refund cannot be issued.
Buyer and Seller will resolve any dispute directly amongst themselves in accordance with these Terms. Either party may escalate a dispute by contacting Trusted.Sale Customer Support at support@Trusted.Sale. In the event of a dispute being escalated, Trusted.Sale reserves the right to issue a refund to Buyer on behalf of the Seller if the transaction is found to be in violation of any of our terms or policies. Funds to cover refunds will be deducted from Seller’s Payment Account Balance. In the event of insufficient funds to cover the amount of the refund, Seller’s credit card on file will be charged.
Bill of Sale
Both Parties must agree to accept the terms of the Bill of Sale document. If communication happens outside of our messaging platform that results in an agreement or change in agreement, it must be documented in writing, signed by both parties and when requested, supplied to us within five (5) calendar days of the request. We reserve the right to resolve in the manner we see fit any dispute regarding an agreement made outside our messaging platform.
Your Payment Transactions
By registering for or using the Payment Platform, you authorize Trusted.Sale to process payments, refunds and adjustments for your transactions ("Your Transactions"), receive and holding Gross Proceeds (as defined below) on your behalf, remit Net Proceeds (as defined below) to your Bank Account, charge your credit card, and pay Trusted.Sale amounts you owe in accordance with these Terms or other agreements you may have with Trusted.Sale (collectively, the "Transaction Processing Service"). Notwithstanding anything to the contrary in these, Trusted.Sale may in its discretion perform the Transaction Processing Services described in these Terms.
“Gross Proceeds” means the gross amount collected from any of Your Transactions, including all shipping, handling and other charges, as well as any taxes separately stated and included upon sale. “Net Proceeds” means the Gross Proceeds less any applicable fees or other amounts we may collect under these Terms.
When a Buyer instructs us to pay you, you agree that the Buyer authorizes and orders us to commit the Buyer's payment to you (less any applicable fees or other amounts we may collect under these Terms). You agree that Buyer satisfy their obligations to you for Your Transactions when we receive the Gross Proceeds. Our obligation to remit funds received by us on your behalf is limited to funds that we have actually received less amounts owed to Trusted.Sale, subject to chargeback or reversal or withheld for anticipated claims in accordance with these Terms.
Trusted.Sale charges an applicable five and nine tenths percent (5.9%) transaction fee (“Transaction Fee”) on each Payment Transaction for use of our Transaction Processing Service. The Transaction Fee is inclusive of all credit card and bank fees. The Transaction Fee amount will be assessed on the Gross Proceeds and deducted on all Completed Payment Transactions. We reserve the right to modify the Transaction Fee at any time in accordance with these Terms.
In the event of any partial or full refunds credited back to Buyer in association with a Payment Transaction, the Transaction Fee will be recalculated based on the adjusted Gross Proceeds and an adjustment will be made to Seller’s Payment Account. The difference between the original Transaction Fee and the adjusted Transaction Fee will be applied to the refunded amount being credited back to Buyer.
In the event of charge backs submitted by Buyer, Trusted.Sale will respond to the credit card network on behalf of Seller; Seller agrees to provide any requested information to us within five (5) calendar days of the request. Seller will incur a $25 fee when there is a charge back dispute on one of Your Transactions. If the dispute is resolved in Seller’s favor, however, we refund the fee. If the dispute is not resolved in Seller’s favor, Trusted.Sale reserves the right to recoup from Seller funds associated with Buyer charge backs in accordance with these Terms. Funds to cover charge backs not in your favor will be deducted from Seller’s Payment Account Balance. In the event of insufficient funds to cover the amount of the refund, Seller’s credit card on file will be charged.
You agree that it is the Seller's responsibility to determine whether Seller Taxes (as defined below) apply to Your Payment Transactions and to collect, report, and remit the correct Seller Taxes to the appropriate tax authority, and that Trusted.Sale is not obligated to determine whether Seller Taxes apply and is not responsible to collect, report, or remit any sales, use, or similar taxes arising from any of Your Payment Transactions. "Seller Taxes" means any and all sales, goods and services, use, excise, import, export, value added, consumption and other taxes and duties assessed, incurred or required to be collected or paid for any reason in connection with any advertisement, offer or sale of products by you on or through the Service, or otherwise in connection with any action, inaction or omission of you or any of affiliate of yours, or any of your or their respective employees, agents, contractors or representatives.
Trusted.Sale's Reservation of Rights
We may in our sole discretion withhold for investigation, refuse to process, restrict shipping destinations for, stop and/or cancel any of Your Transactions. You will stop and/or cancel Orders if we ask you to do so (provided that if you have transferred your products to the applicable carrier or shipper, you will use commercially reasonable efforts to stop and/or cancel delivery by such carrier or shipper). You will refund any customer (in accordance with these Terms) that has been charged for an Order that we stop or cancel.
All funds resulting from your completed Payment Transaction will be reflected as a balance ("Payment Account Balance"). Any refunds, adjustments, or other amounts paid to Buyers in connection with Payment Transactions, or for funds received, are also reflected in your Payment Account Balance. Additionally, we will inform you of each Payment Transaction, or of other information pertaining to the Payment Platform, using our standard communication procedures, including email or other messaging services associated with our Service.
· Total Funds is the Net Proceeds, less any refunds, adjustments, or other amounts paid to Buyers in connection with Your Transactions;
· Past Withdraws is the total Net Proceeds you have Deposited into your Bank Account;
· Pending Funds is the Net Proceeds of Payment Transactions currently associated with Pending Orders; or any applicable Net Proceeds
subject to a Deposit Delay, Reserve, or Hold period (as defined below), in accordance with these Terms;
· Available Funds is the total amount eligible for Deposit into Seller Bank Account.
Withdrawing Your Funds
Deposits ("Deposit") can be made into any Bank Account located in the United States. All Deposits will be made in United States Dollars ("USD"). You may Deposit all Available Funds into your Bank Account anytime, except for scheduled or unscheduled interruptions of the Service. Once a Deposit is initiated, all Available Funds will be transferred to your Bank Checking Account the next business day if created on a Business Day before 21:00 UTC (11am EST). If Deposit is initiated on a non-business day, funds will be processed on the next business day and transferred on the following business day. For your security, there is a (7) day Deposit Delay (as defined below) when you either initially provide or later change your Bank Account information.
If the Deposit fails (e.g. due to a typo in the bank details), it can take up to (5) business days for Trusted.Sale to be notified. Seller will be charged a fee of $1 USD for each failed Deposit attempt. In the event funds cannot be deposited into your Bank Account, funds will remain in your Payment Account Balance until you update your Bank Account information.
Holds, Deposit Delays and Reserves
If we reasonably conclude based on information available to us that a Seller's actions and/or performance in connection with the Payment Platform may result in Buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put into effect a Hold, Deposit Delay, or Reserve associated with Seller’s Payment Account Balance.
· A “Hold” may be put on funds associated with a particular Payment Transaction in the event of disputes or investigations associated with the Order for the shorter of: (a) 180 days after the Estimated Delivery Date; or (b) completion of any investigation(s) regarding any Seller actions and/or performance in connection with the Payment Transaction.
· A “Deposit Delay” is defined as the number of days between a sale and the day the Net Proceeds becomes available for Deposit, provided the payment has been completed as defined in these Terms. A Deposit Delay may be between 0 and 180 days. A Deposit Delay is applied across all Payment Transactions for a Seller.
· A “Reserve” is defined as a fixed percentage of Seller’s Payment Account Balance delayed prior to being included as part of Seller’s Available Funds for a period of up to 180 days.
All Holds, Deposit Delays, and Reserves will be communicated to Seller by email or a notice on the Service. We will not be liable to Seller if we act in accordance with the provisions of this Section.
As a security measure, we may, but are not required to, impose transaction limits on some or all Buyers and Sellers relating to the value of any Payment Transaction, Deposit, or Adjustment, the cumulative value of all Payment Transactions, Deposits, or Adjustments during a period of time, or the number of Payment Transactions per day or other period of time in accordance with these Terms. We will not be liable to you if we do not proceed with a Payment Transaction, Deposit, or Adjustment that would exceed any limit established by us.
We reserve the right to seek reimbursement from a Seller under the following conditions: (a) if we, in our sole discretion, provide a refund to Buyer if Seller cannot promptly Deliver the goods or services as defined above or goods or services are substantially not as advertised; (b) if we discover erroneous or duplicate transactions; (c) if we receive a chargeback from Buyer's credit card issuer or reversal of payment for the amount of Buyer's purchase from Seller; or (d) if Seller otherwise does not act in accordance with our Terms and policies. We may obtain reimbursement of any amounts owed by Seller to Trusted.Sale by deducting from future payments owed to Seller, applying a debit to Seller’s Payment Account Balance, charging Seller's credit card on file, invoicing Seller, or seeking such reimbursement from Seller by any other lawful means, including collections. You authorize us to use any or all of the foregoing methods to seek reimbursement.
For U.S. Sellers, Internal Revenue Service regulations require that U.S. third-party settlement organizations and payment processors, including Trusted.Sale, file Form 1099-K to report unadjusted annual Gross Proceeds information for Sellers that meet both of the following thresholds in a calendar year (reporting):
· More than $20,000 in Gross Proceeds, and;
· More than 200 transactions.
As a result of these regulations, Sellers who approach (150) transactions in a calendar year, regardless of sales volume and aggregated across all his or her accounts (if applicable), will be required by Trusted.Sale to provide taxpayer-identification information and will be notified of such via email and through other communication channels available on Trusted.Sale.
Prior to disbursing funds to you, Trusted.Sale may combine your Net Proceeds held with the Net Proceeds of other Users of our Services, invest them, earn interest on them or use them for other purposes permitted by applicable laws. You will not receive interest or any other earnings on any Net Proceeds. To the extent required by applicable laws, Trusted.Sale will not use any funds held on your behalf for its corporate purposes, will not voluntarily make such funds available to its creditors in the event of bankruptcy or for any other purpose, and will not knowingly permit its creditors to attach such funds.
If there is no activity (as determined by us) in connection with your Payment Account for the period of time set forth in applicable unclaimed property laws and we hold Available Funds on your behalf, we will notify you by means designated by us and provide you the option of keeping your Payment Account open and maintaining the funds in your Payment Account. If you do not respond to our notice(s) within the time period we specify, we will, at our discretion, do any of the following: (i) transfer the funds to the bank account on file in your Payment Account, or debit the funds to the credit or debit card on file in your Payment Account; or (ii) send the funds in your Payment Account by check to your address of residency, as determined by us based on the information in your Payment Account.
By entering into this Agreement and using the Payment Platform, you agree to use the Transaction Processing Service in the manner described by this Agreement. You acknowledge that by not fulfilling these obligations, your action or inaction may be legally actionable.
Terminating Use of Payment Platform
THE SITE AND THE SERVICES ARE PROVIDED ON AN "AS IS" BASIS. TRUSTED.SALE MAKES NO OTHER REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION:
a. THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT;
b. THAT THE SITE OR THE SERVICES WILL MEET YOUR REQUIREMENTS, WILL ALWAYS BE AVAILABLE, ACCESSIBLE, UNINTERRUPTED, TIMELY, SECURE, OR OPERATE WITHOUT ERROR;
c. THAT THE INFORMATION, CONTENT, MATERIALS, OR PRODUCTS INCLUDED ON THE SITE WILL BE AS REPRESENTED BY SELLERS, AVAILABLE FOR SALE AT THE TIME OF FIXED PRICE SALE, LAWFUL TO SELL, OR THAT SELLERS OR BUYERS WILL PERFORM AS PROMISED;
d. ANY IMPLIED WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE; AND
e. ANY OBLIGATION, LIABILITY, RIGHT, CLAIM, OR REMEDY IN TORT, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF TRUSTED.SALE.
TO THE FULL EXTENT PERMISSIBLE UNDER APPLICABLE LAW, TRUSTED.SALE DISCLAIMS ANY AND ALL SUCH WARRANTIES.
BECAUSE TRUSTED.SALE IS NOT INVOLVED IN TRANSACTIONS BETWEEN BUYERS AND SELLERS OR OTHER PARTICIPANT DEALINGS, IF A DISPUTE ARISES BETWEEN ONE OR MORE PARTICIPANTS, EACH OF YOU RELEASE TRUSTED.SALE (AND THEIR RESPECTIVE DIRECTORS, OFFICERS, SHAREHOLDERS, AGENTS AND EMPLOYEES) FROM CLAIMS, DEMANDS, AND DAMAGES (ACTUAL AND CONSEQUENTIAL) OF EVERY KIND AND NATURE, KNOWN AND UNKNOWN, SUSPECTED AND UNSUSPECTED, DISCLOSED AND UNDISCLOSED, ARISING OUT OF OR IN ANY WAY CONNECTED WITH SUCH DISPUTES.
Change in Service
The Service is always evolving and the form and nature may change from time to time without prior notice to you. Trusted.Sale reserves the right to modify or terminate the Payment Platform for any reason, without notice, at any time.
Trusted.Sale will deliver all notices to the email address you provided to us in your account settings; or by posting on the Site; or by any other messaging services associated with our Service. Notice shall be deemed given 24 hours after notice is emailed, posted or sent.
Any notices given to Trusted.Sale shall be delivered by postal mail to:
Attn: Legal Dept.
1701 Barrett Lakes Boulevard, Suite 160
Kennesaw, GA 30040
Questions or Concerns
If you have any questions or concerns regarding any aspect of our Terms, please send a detailed message to support@Trusted.Sale and we will make every effort to answer your questions or resolve your concerns. If you have a question or concern about a specific Payment Transaction or your Seller Payment Account, contact Trusted.Sale Customer Support at support@Trusted.Sale.