Users complete payment collection and disbursement through third-party acquirers connected by the platform. The platform does not hold user funds directly; funds are escrowed and cleared by acquirers. The platform only provides interface connection and does not guarantee acquirer fund safety.
1. The payment settlement benchmark is completion of agreed order conditions and acceptance without disputes. Settlement cycles are subject to platform announcements.
2. Orders with disputes, risk control alerts, chargeback risks, customs investigations or sanction screening may be suspended from settlement until disputes are resolved and risks removed.
3. Settlement currency and exchange rate are subject to the acquirer's exchange rate at settlement time. Exchange rate fluctuation risks shall be borne by buyer and seller.
Platform and acquirer transaction service fees are automatically deducted upon settlement. Rates are subject to platform announcements. In case of chargebacks and card scheme disputes, dispute fees and fines charged by acquirers shall be borne by the breaching party.
Refunds are returned to the buyer's original payment account. Refund processing follows acquirer processing timelines. Handling fees and exchange losses arising from refunds shall be borne by the responsible party.
Sellers must pay a basic security deposit upon onboarding. High-risk categories and high-dispute sellers shall pay additional dynamic risk security deposits. The platform may dynamically raise standards based on shop dispute rate, chargeback rate and IP infringement records.
Security deposits are used for compensating buyer losses, paying acquirer fines, platform liquidated damages and fines, and platform rights protection costs. No interest accrues on security deposits.
Upon normal shop cancellation and full settlement of all orders, disputes and debts, the seller may apply for security deposit refund after the platform-specified cooling-off period.
Buyer and seller independently bear respective domestic and cross-border taxes including VAT, customs duties, income tax, consumption tax and destination-country VAT. The platform shall not bear any party's tax obligations.
Invoices shall be issued through direct communication between transaction parties. The platform does not issue invoices on behalf of users and bears no invoicing obligations.