- Upon completion of account creation, SOL shall automatically create a payment account for the Merchant based on the information provided. The payment gateway services provider to be engaged for the creation of the payment account shall be solely decided by SOL. The Merchant herein expressly agrees, consents and authorize SOL to collect payments made by the Purchaser on behalf of the Merchant.
Parties agree that the structure and flow of the payment for products and payment of fees, if any, shall be as follows: ˝
- Once the Purchaser agrees to purchase the Product and confirmation is made through the transaction link and web page, the Purchaser shall be prompted to make the necessary payments through SOL’s designated payment gateway;
- The Purchaser may choose to pay by way of bank transfer, credit card or debit card. Upon successful payment of the monies by the Purchaser, the monies shall be paid to the payment account as set up by SOL;
- The settlement of monies to the Merchant shall follow the time period as stated in Appendix A below. All settlement of monies shall be made to the Merchant’s registered business banking account. The payment of fees for the payment gateway shall occur during the said period and shall be deducted before settlement of monies is completed. Further details on the structure, flow and relevant transactional period shall be set out in Appendix A attached herein.
The Merchant herein agrees to adhere to the refund policies as follows:
- Each product sold on the Platform shall have a general refund period of Seven (7) days from the date of receipt of the Product by Purchaser. In the event that the Merchant is desirous of setting its own refunding period and/or own refunding policy, it shall do so by expressly stating the refunding period in its store page and/or during their live streaming session in which event the period of time stated herein shall not be applicable;
- The Purchaser shall contact the Merchant directly if a request for a refund of monies paid for the purchase of a Product is made. The Merchant shall be solely liable and responsible for the process of refunding the monies paid by Purchaser. It is expressly agreed that only the Merchant shall have the sole discretion in deciding to process the refund for the Purchaser and that SOL shall not take part in any stages of the refunding process;
- Notwithstanding that the Merchant has received monies after the settlement, it is hereby expressly agreed by the Merchant that a full refund of the monies equivalent to the price of the Products shall be made in the event that a request for refunds is confirmed. The Merchant shall arrange for the refund to the Purchaser;
- Parties hereby agree that regardless of the refunds being made, the scale fees from the sale and purchase transaction must be paid to SOL. SOL shall not be liable to pay any of the scale fees and/or to return the same to the Merchant for purposes of refunding the Purchaser;
- In the event that the Merchant has for whatsoever reason deleted its account in the Platform and the Purchaser is unable to make any contact to the Merchant for item and monies refund purposes, SOL hereby reserves the right to release any information in relation to the Merchant to said Purchaser if so required to assist in their attempts to recover any monies due and owing by the Merchant.
Notwithstanding to Clause 8.3 above, the Merchant may set its own refunding policies in the event the Products sold are perishable in nature and/or not suitable to be returned in its original state. For the purposes of setting its own refunding policies, the Merchant shall do the following:
- The Merchant shall provide a list of information to SOL as to the items which are perishable in nature and not suitable to be categorised as Products which may fall under the general refund policy stated in Clause 8.3 above;
- SOL shall have the sole discretion to approve or otherwise the list provided by the Merchant. In the event that the list is approved, the Merchant shall expressly list the Products as non-refundable on the store page.
- For the purposes of the refund policy and to act as an intermediary between the Merchant and Purchaser, it is agreed that SOL shall reserve the rights to release any information in regards to the purchase of the Products to the Purchaser if so required.
- The Merchant shall not claim for any losses, damages, costs and/or fees from SOL and/or the payment gateway provider in the event such losses, damages, costs and/or fees occurs as a result of the refunds being made to the Purchaser.