TVM’s Direct Buy Policy:
- Accepting These Terms
This document (the Direct Buy Policy or the “Policy,” for short) sets out your rights and responsibilities when you use Direct Buy on the TVM website (we’ll refer to theveteranmarket.com, and TVM’s mobile apps and other services as our “Services”), so please read it carefully. By using Direct Buy, you’re agreeing to the Policy.
Direct Buy allows sellers to (a) accept payment by authorized credit and debit card transactions, some bank transfers services, PayPal and transactions using the Apple Pay payment service, (b) have those funds credited to a seller’s Shop Payment Account with TVM, and (c) have those funds deposited into a seller’s designated bank account.
Direct Buy is only available to sellers who are at least 18 years old who register and are approved for a Shop Payment Account with TVM.
Sellers may only use Direct Buy for the sale of items listed on TVM’s Services, and agree to ship sold items once a payment transaction is complete and reflected in their Shop Payment Account. TVM reserves the right to terminate a seller’s access to Direct Buy if the seller uses Direct Buy in any other manner.
Buyers may authorize a payment with any major credit or debit card accepted by TVM, with TVM Gift Cards, by certain bank transfer services, or through PayPal or Apple Pay.
- Third-Party Services
TVM has engaged third-party service providers to perform many of the services related to payment processing, including card processing, identity verification, fraud analysis and regulatory compliance.
TVM may share your personal or transactional information with those third-party service providers when it’s necessary to process payments.
TVM Gift Cards are subject to the Gift Cards Policy.
By using a third-party service, you may also be subject to an agreement with the third-party. For example, PayPal is a third-party service provided by PayPal Holdings, Inc. and is subject to the PayPal User Agreement. Apple Pay is a third-party service provided by Apple Inc. and is subject to the Apple Pay Terms and Conditions.
If TVM receives notice that your shop’s content or activity violates a third party’s service agreement, we may at our sole discretion take action against your account to comply with their policies. Such actions may include canceling a transaction, disabling listings from your shop, suspending your selling privileges, or removing certain payment methods.
TVM supports two versions of PayPal: integrated PayPal and standalone PayPal.
Integrated PayPal. Integrated PayPal allows sellers to receive funds from PayPal purchases directly into their TVM Shop Payment Account, without the need to manage a separate PayPal account. This means that if a buyer pays with PayPal, the funds from the order will be credited to a seller’s Shop Payment Account along with the rest of the orders. The standard Direct Buy Payment Processing Fee (described below) applies to orders that go through integrated PayPal; there is no additional PayPal fee.
Standalone PayPal. For sellers accepting standalone PayPal, you will receive funds from PayPal purchases directly into your PayPal account. This payment method exists for sellers in countries that are not yet eligible for Direct Buy and for sellers in certain countries who have opted to continue receiving funds into their standalone PayPal accounts. Sellers who accept standalone PayPal will continue to pay PayPal fees. Orders paid through standalone PayPal are not covered by TVM’s Seller Protection Program. Please note, in certain circumstances where a seller accepts Direct Buy and standalone PayPal, it may be necessary for TVM to process some PayPal transactions through integrated PayPal. For example, if a buyer chooses to pay with an TVM Gift Card and covers the remaining balance using PayPal, TVM can only process the transaction through integrated PayPal. Similarly, if a buyer purchases items from multiple shops in a single transaction and chooses PayPal as the payment method, TVM may have to process the transaction through integrated PayPal.
- TVM’s Rights and Responsibilities
As a security measure, we may impose transaction limits on buyers and sellers. TVM may also impose limits related to the number of transactions per day or other period of time. TVM will not be liable to a seller: (a) if we do not proceed with a transaction, deposit, or adjustment that would exceed any limit established by us, or (b) if we permit a buyer to withdraw from a transaction.
TVM may refuse service of Direct Buy to anyone, for any reason, at any time.
In the event that a buyer does not make payment for the purchase of a legitimate item sold using Direct Buy (e.g., where the buyer used a stolen or unauthorized credit card), TVM may provide limited payment protection to the seller, in the interest of fairness. You can learn more about our Seller Protection Program here.
TVM will send you any relevant notices regarding your use of Direct Buy in accordance with our Electronic Communications Policy.
- Seller Rights and Responsibilities
- Shop Payment Accounts. Direct Buy is only available to sellers who register and are approved for a Shop Payment Account. A Shop Payment Account allows sellers to track payment amounts, refunds, and fees related to transactions. Sellers must provide accurate personal information as requested during registration, and are responsible for maintaining and updating that information as necessary. Sellers will not impersonate any person or use a name he or she is not legally authorized to use. Sellers authorize us, and authorized agents, to verify their information (including any updated information) by accessing public records and obtaining credit reports about the sellers in order to approve a Shop Payment Account. Sellers also authorize TVM to verify the sellers’ information from time to time while the sellers are using Direct Buy. TVM verifies sellers’ information in order to safeguard the integrity of the marketplace and reduce the risk of fraud, money laundering, terrorist financing, and the violation of trade sanctions.
Shop Payment Accounts are only available to individuals who are eligible to be sellers on TVM’s services and who have a valid bank account, credit or debit card on file with TVM, unless they are exempt from this requirement. Sellers who have bank accounts established in Austria, Germany, and the Netherlands are not required to have a credit card on file with TVM to have a Shop Payment Account.
In the event that a buyer submits a chargeback, TVM will respond to the credit card networks on behalf of the seller involved in the transaction; the seller agrees to provide any requested information to us within five calendar days of the request. TVM reserves the right to recoup funds associated with buyer chargebacks.
- Communications. TVM will inform sellers of each transaction, or of other information pertaining to Direct Buy, using our standard communication procedures (detailed in our Electronic Communications Policy), including by email or through TVM’s Conversations tool.
- Refunds. Refunds or adjustments paid by TVM to buyers for payments made through Direct Buy may be initiated using the refund functionality in the seller’s Shop Payment Account. Any such funds paid by TVM to cover refunds will be deducted from the seller’s Shop Payment Account balance. If there are insufficient funds to cover the amount of the refund, the balance will be charged to the seller’s credit card or added to the seller’s TVM bill.
Fully refunded transactions may be eligible for cancellation in accordance with the Seller Policy and this Help article.
- International Trade Laws. You agree that your use of Direct Buy will not involve any countries, entities, individuals or items prohibited by sanctions, embargoes, regulations or orders administered by the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) or other government agencies.
- Appointment of TVM as Limited Collection Agent for Sellers
Each seller appoints TVM as its agent for the limited purpose of receiving, holding and settling payments to seller. TVM will settle payments that are actually received by TVM to each seller, less any amounts owed to TVM and subject to these Terms. Each seller agrees that a buyer payment received by TVM, on behalf of seller, satisfies the buyer’s obligations to make payment to seller, regardless of whether TVM actually settles such payment to seller. If TVM does not settle any such payments as described in these Terms to a seller, such seller will have recourse only against TVM and not the buyer.
- Shop Payment Account. All funds resulting from a completed transaction will be reflected as a balance in a seller’s Shop Payment Account. Transactions are considered complete once the payment is approved by TVM or our fraud analysis service provider. Any refunds, adjustments, or other amounts paid to buyers in connection with purchases, or for funds received since the last payment day, are also applied to the seller’s Shop Payment Account balance.
Funds in a Shop Payment Account balance are eligible for deposit (the “Available Balance”) into a seller’s bank account at the end of any applicable deposit delay, reserve, or hold period as determined by the seller’s bank.
- Country and Currency Options. Available Balances can only be deposited into bank accounts in the United States.
- Scheduled Deposits. TVM will instruct our payments partners to initiate a deposit of a seller’s Available Balance into the seller’s bank account every Monday (“Payment Date”) for sellers located in the United States and every other Monday for sellers outside of the US. Deposits into a seller’s bank account will generally be credited within three (3) to five (5) business days from the date TVM initiates the deposit request. The actual timing of the deposit may depend on how quickly a seller’s bank processes the request.
The Payment Date will fall on the next day business day (Monday through Friday, excluding bank holidays) if the scheduled Payment Date falls on a non-business day. If a seller elects to change the scheduled Payment Date by using the tools provided by us in the Shop Payment Account, the following deposit will be initiated on the day selected by the seller, and the next scheduled deposit will continue to be on the following regularly scheduled Monday. When a seller either initially provides or later changes his or her bank account information, the seller must wait at least five (5) calendar days to request a deposit into a bank account as a security precaution. The next scheduled deposit after a change to bank account information will occur on the next scheduled Monday after a period of five (5) calendar days from the date of the requested change.
- Holds and Delays. In some cases, deposits to sellers’ bank accounts could be temporarily delayed by an issue at TVM, at TVM’s third-party service providers, or at a seller’s bank. TVM’ll do our best to communicate with the affected sellers as soon as we can.
If we believe that a seller’s actions may result in buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put (1) a hold, (2) a deposit delay, or (3) a reserve on the seller’s Shop Payment Account balance.
A hold may be put on funds associated with a particular transaction if there is a dispute or investigation related to the order, for the shorter of: (a) 180 days after the estimated delivery date; or (b) completion of any investigation regarding the seller’s actions.
Deposit delays are defined as the number of days between a sale and the day the net amount from the sale becomes available for deposit, provided the payment has been completed. A deposit delay may be between 0 and 180 days. A deposit delay is applied across all transactions for a seller and the number of days is reflected in each seller’s Shop Payment Account.
A reserve is defined as a fixed percentage of a seller’s Shop Payment Account balance delayed prior to being included as part of a seller’s Available Balance for a period of up to 180 days.
If TVM places a hold, a deposit delay or a reserve on a seller’s account, we’ll do our best to communicate with the affected seller as soon as we can.
TVM always work hard to avoid and minimize any delays. However, please note that TVM is not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.
- Escheatment. If TVM cannot settle funds into a seller’s bank account, the funds will remain in the seller’s Shop Payment Account. It is the seller’s sole responsibility to update his or her bank account information to receive the funds. If a seller fails to update the information to claim the funds within a certain period of time, TVM will escheat the funds to the relevant government authority in order to comply with escheatment laws.
- TVM may obtain reimbursement of any amounts owed by a seller to TVM by deducting from future payments owed to the seller, reversing any credits to the seller’s Shop Payment Account balance, charging the seller’s credit card on file, charging the seller’s bill, or seeking reimbursement from the seller by any other lawful means, including by using third-party collections services. You authorize us to use any or all of the foregoing methods to seek reimbursement.
- Payment Processing Fees
- Overview. TVM charges a fee (the “Payment Processing Fee”) for processing each transaction through Direct Buy. The fee amount will be assessed on the gross order amount, including shipping and tax (if applicable). Payment Processing Fees will be reflected in your Shop Payment Account. Unlike other fees charged by TVM, the Payment Processing Fee will be deducted from the total amount of the payment at the time the payment is considered complete. TVM reserve the right to modify the Payment Processing Fee at any time. In the event of any partial or full refunds credited back to a buyer, the Payment Processing Fee and other applicable fees will be recalculated based on the adjusted sale price. The difference between the original Payment Processing Fee and the adjusted Payment Processing Fee will be applied to the refund amount being credited back to the seller. Other applicable fees will be refunded on the seller’s bill. Currently there is an 7.85% fee for the gross amount of the products purchased plus payment processing fee.
- Fee Amount. Payment Processing Fees vary based on the location of a seller’s bank account.
Payment Processing Fees by seller’s bank account country:
- Listing Currency Conversion Considerations for Sellers. When a seller lists and subsequently sells an item in a currency other than US Dollars, TVM will settle the associated transaction proceeds in the currency of the seller’s Shop Payment Account. When such a service is required, TVM applies an additional 2.5% transaction charge. Calculation rates are updated hourly.
- Browsing Currency Considerations for Buyers. In the case of a buyer purchasing from a seller who lists in a currency other than US Dollars, TVM will automatically calculate the listing price in the buyer’s browsing currency. When such a calculation is required, TVM applies an additional 2.5% transaction charge. Calculation rates are updated hourly.
- Interest. In the United States, TVM may earn interest or other compensation from the balances in our bank accounts that result from the timing difference between our being paid by buyers and our bank account being debited to pay Shop Payment Account Available Balances to sellers.
- Reporting Obligations
Internal Revenue Service regulations require that we file a Form 1099-K to report unadjusted annual gross sales information for sellers located in the United States or being paid in USD that meet both of the following thresholds in a calendar year (reporting):
- More than $20,000 USD in gross sales, and
- More than 200 transactions.
To comply with these regulations, sellers who approach 150 (one hundred and fifty) transactions in a calendar year, regardless of sales volume and aggregated across his or her Shops, will be required to provide taxpayer-identification information to TVM.
Sellers may terminate this contract and their acceptance of Direct Buy at any time by adjusting the Settings in their account with TVM. TVM may also terminate or suspend a seller’s use of Direct Buy at any time.
Upon termination, any non-disputed available balance will be deposited into a seller’s bank account. TVM reserves the right, upon termination of access to Direct Buy, to set off against any payments to be made to the seller, an amount determined by us to be adequate to cover any anticipated chargebacks, refunds, adjustments or other amounts that might be paid to buyers in connection with purchases from the seller’s Shop Payment Account for a prospective 180-day period. At the end of the 180-day period following termination, we will disburse to the seller any amount not used to offset chargebacks, refunds, adjustments, or such other amounts paid to buyers, or seek reimbursement from the seller via any of the means authorized in this Policy for any additional amount required to offset chargebacks, refunds, adjustments, or other amounts paid to buyers, as applicable. Terms subject to change.