Commission

Our marketplace commission fees are designed to provide transparency and competitive rates, applied only to successful sales. Fees are calculated based on the final value fee, which includes the sale price and shipping costs. We offer a fixed fee for items priced between $25–$59.99 and declining, percentage-based tiers for higher price ranges. For a detailed breakdown of each tier, please refer to our full commission schedule below.

Referral Discount: Users referred by our partners receive an average 2.69% discount across commission tiers.

Top Seller Discount: Top sellers receive an average 6.84% discount across commission tiers. The exact details for this status are still being finalized due to the early stage of the platform. We’re committed to offering competitive incentives for our top-performing sellers and we will share more information as the platform evolves.

Minimum Selling Price

To ensure a seamless transaction process using Stripe Connect, we have set a minimum price for listings of $25 (NZD). This minimum price is necessary to cover transaction costs and provide a secure payment experience.

For P2P transactions our inbuilt SAFEPAY system powered by Stripe Connect protects both buyers and sellers.

Watch our quick video guide to learn how transactions work between Individual and Business accounts!

Transaction Policy

Last Updated: 28/11/2024

1 - Overview

We’re committed to making every transaction on our platform secure, fair, and straightforward. This document details our commission structure, SAFEPAY protection, dispute and refund process, and compliance with New Zealand consumer protection laws. BoostBay's transaction processes differ for individual and business account holders to meet these standards.

2 - Consumer Protection Compliance in New Zealand

• Consumer Guarantees Act (CGA): Applicable to sales made by businesses to individual buyers, the CGA requires sellers to ensure goods are of acceptable quality, match descriptions, and are fit for their intended purpose. Even without SAFEPAY, business sellers are responsible for addressing defects or misrepresentations.

• Fair Trading Act: Businesses must ensure that no false or misleading statements are made about their goods or services. BoostBay clearly states that business transactions are handled directly by the business seller, without SAFEPAY or third-party mediation.

• Clear Disclosures: For transactions with business sellers, BoostBay emphasizes that all dispute resolution is handled directly by the seller, meeting the transparency requirements under New Zealand law.

Need Help? If you have any concerns about compliance or your rights, please contact us at [email protected].

3 - Individual Account Transactions

BoostBay provides secure SAFEPAY protection through Stripe Connect for individual sellers and buyers to enhance transaction safety (peer-to-peer). This system ensures funds are secure until all parties fulfill their obligations, fostering trust in the transaction process by preventing fraud.

SAFEPAY process for Individual Accounts:

• Payment Hold: When a buyer purchases an item, payment is held by our SAFEPAY system via Stripe Connect.
• Shipped Orders: For shipped orders sellers must mark the order as shipped within 14 days from the transaction date. Orders not marked as shipped/delivered within this timeframe will be automatically canceled, and the funds will be refunded to the buyer.
• Pickup Orders: For pickup orders, the order must be either marked as delivered by the seller or received by the buyer within 14 days from the transaction date. Orders not marked as delivered/received within this timeframe will be canceled, and the funds will be refunded to the buyer.
• Release of Payment: Once the buyer marks the order as received the funds will then be released to the seller.
• Dispute Resolution: Buyers must dispute the transaction before marking the order as received. If a dispute arises, BoostBay's support team will mediate, with funds held securely until the issue is resolved. If the buyer does not dispute the order within 14 days from the seller marking it as shipped or delivered, the funds will be automatically released to the seller.

SAFEPAY means the manual payout settings enabled via Stripe Connect. It is not a payout processor, but a secure system used to hold payments temporarily until transaction conditions are met.

SAFEPAY supports a secure and transparent marketplace experience, simplifying refunds and protecting users from potential fraud or disputes.

4 - Business Account Transactions

For business accounts, transactions do not involve SAFEPAY protection. Business sellers are fully responsible for managing and resolving any issues related to their transactions directly.

Key Policies for Business Accounts:

• No SAFEPAY Protection: Payments are transferred directly to the seller without SAFEPAY holding funds, once the order is confirmed.
• Seller Liability: Business sellers are responsible for fulfilling orders accurately, managing disputes, returns, or complaints, and complying with New Zealand consumer protection laws.
• Legal Compliance: Business sellers must comply with the CGA and Fair Trading Act, ensuring goods meet quality standards and descriptions are accurate.

Note: By purchasing from a business account, buyers agree to handle any transaction disputes directly with the seller.

5 - Eligibility for Refunds (for Individual Accounts)

Refunds may be requested for Individual Account transactions in the following cases:

• Non-receipt of Item/Service: The buyer did not receive the item.
• Significant Misrepresentation: The item is significantly different from the listing description.
• Damage or Defect: The item is damaged or defective, undisclosed in the listing.

Note: Buyers should attempt resolution with the seller before filing a dispute.

6 - Refund Request Process (for Individual Accounts)

Buyers seeking a refund must:

• Initiate a Refund Request: Dispute the transaction within 14 days of the transaction date.
• Provide Supporting Evidence: Include required evidence (photos, communication records, etc.).
• Seller Resolution: Sellers have 60 days to take action on a disputed transaction (e.g., replacement or refund). If the seller takes no action within this period, the dispute will be automatically resolved in the buyer’s favor, and the order will be canceled with a full refund.
• Completion: If the buyer does not initiate a dispute within 14 days of the seller marking the order as shipped or delivered, the funds will be automatically released to the seller.

Need Help? If unresolved, escalate the dispute to BoostBay's support team at [email protected].

7 - Escalation to Marketplace Support (for Individual Accounts)

• Submit a Dispute: After disputing a transaction, notify our support team at [email protected] within 28 days from the transaction date or within 14 days from the order being marked as shipped/delivered by the seller.
• Review Process: Our team will review all communications and evidence.
• Decision: A decision will be made, which is final within 14 business days. This timeframe allows sufficient time for sellers to assess the issue and provide a resolution. In exceptional cases, additional time may be required, and affected parties will be notified.

Note: BoostBay reserves the right to make a final decision on the dispute based on the available evidence. This decision will be binding and conclusive.

8 - Refund Outcomes (for Individual Accounts)

Refunds may result in the following:

• Approved Refund: The buyer receives a refund.
• Denied Refund: If the claim does not meet the eligibility criteria, the refund request will be denied, and the payment will be released to the seller.

9 - Refund Timelines (for SAFEPAY Transactions)

Once a refund is approved:

• Processing Time: Refunds are processed through Stripe Connect and typically take 5-10 business days to appear on the buyer’s account.
• Notification: Buyers will receive an email confirmation once processed.

10 - Responsibilities

10.1 - Sellers (Individual and Business Accounts)

Sellers Agree to:

• Accurate Listings: Fully describe items, including any defects or issues, ensuring descriptions match the actual condition of the goods. Timely Communication: Respond to buyer inquiries and emails promptly, within two working days.
• Timely Shipping: Ship items within 14 days from confirming the payment.
• Fair Shipping Costs: Ensure shipping charges reflect actual packaging and postage costs without inflating them for profit.
• Dispute Resolution: Work in good faith to resolve disputes with buyers directly before escalating to BoostBay support.
• Feedback Etiquette: Avoid retaliatory, negative, or inappropriate feedback and spam communication with previous buyers.
• Business Accounts: Must comply with New Zealand consumer protection laws and handle any refunds, returns, and disputes directly with the buyers.

10.2 - Seller Refunds and Returns

Responsibilities for returns and refunds differ based on the transaction type:

• Shipped Orders: Sellers are responsible for providing a pre-paid return shipping label to BoostBay’s support team for eligible returns. This simplifies the return process and ensures timely refunds.
• Pick-Up Orders (Buyer Collected): Sellers are encouraged to retrieve the item from the buyer if the buyer initially picked up the order, to help facilitate the refund process. If the seller is unable to retrieve the item, BoostBay will assist both parties in negotiating a mutually agreeable resolution.
• Business Accounts: Business Accounts are responsible for managing disputes, returns, complaints, and complying with New Zealand consumer protection laws.

Note: Sellers are encouraged to document the condition of items (e.g., through photos or videos) prior to shipping. This documentation may be used as evidence if disputes arise.

10.3 - Buyers

Buyers agree to:

• Timely Communication: Respond to seller inquiries and emails promptly, within two working days.
• Timely Payment: Complete payment for purchased goods within seven calendar days of receiving payment details.
• Resolve Issues in Good Faith: Attempt to resolve any disputes with sellers directly before leaving negative feedback or escalating to BoostBay support.
• Respect Seller Privacy: Avoid spamming or contacting sellers unnecessarily after transactions.

10.3 - Buyer Refunds and Returns

Responsibilities for returns and refunds differ based on the transaction type:

• Shipped Orders: Buyers must use the prepaid return shipping label provided by the seller for eligible refunds. Once the item is shipped back, confirmation of the return will be based on the tracking details associated with the seller-provided label. Refunds will only be processed after the successful return is verified.
• Pick-Up Orders (Seller Delivered): Buyers are encouraged to return the item to the seller if the seller initially dropped off the order, to help facilitate the refund process. If the buyer is unable to return the item, BoostBay will assist both parties in negotiating a mutually agreeable resolution.
• Returned Item Condition: Items that have been used or modified by the buyer after receipt are ineligible for refunds unless explicitly permitted by the seller.

11 - Limitations and Exclusions

Certain items or services may have specific conditions, including:

• Digital Goods: May have limited refund eligibility.
• Perishable Items: May have specific refund policies.
• Non-Refundable Fees: Stripe’s payment processing fees are non-refundable, even in cases where refunds are approved.

12 - Transactions Outside SAFEPAY (Market Leakage)

Using SAFEPAY protects both buyers and sellers, ensuring funds are securely held until transaction conditions are met, providing peace of mind and reducing the risk of fraud. BoostBay cannot process refunds or mediate disputes for transactions completed outside the platform or SAFEPAY system. Such transactions are private agreements between buyers and sellers, and BoostBay assumes no liability for these interactions. We strongly recommend all users conduct transactions through the platform to ensure eligibility for support.

13 - Contact Information

For further questions, please contact us at [email protected].