Seller Fees: Sellers incur a 9.95% fee, per sale, calculated as a percentage of the gross value of the order placed by a buyer. This fee covers the Seller’s use of the platform, payment protection and buyer verification (select functions fulfilled by Truzo).
Buyer Fees: The buyer incurs a 3.40% (ex VAT) “Administration and Payment Protection Fee”, which is added total value of their order placed by the Buyer. This is calculated on the gross value of their order and added to their total prior to payment. The fee covers 1) buyers payment is protected using Escrow (from Truzo™️) 2) processing of the buyers chosen payment method, and 3) it helps us operate our platform and offer ongoing support for your order. NOTE: In the event of a refund, this fee is non-refundable.
1) A Buyer places a R100 order with a Seller.
2)The Buyer Fee (plus VAT) is added to the value of the transaction, taking the total to R103.91.
3) If the order is accepted by the Seller, the Buyer makes payment for the total R103.91.
4) The Buyer Fee is then reserved, leaving R100 available.
5) The Seller then commences with delivery the order. Once delivered, the Buyer will review the delivery.
6) If approved, the seller will be paid the remaining value LESS the Seller Fee, R100 – 9.95% = R90.05 to their Truzo wallet. They can return this to their bank account, or retain this for a future purchase.