Bazista Payments Policy
Bazista allows buyers promoters and sellers to use various cryptocurrencies and digital assets to pay for goods on Bazista.com, and other common services. Bazista Payments users can pay with and accept payment by Bazista internal account addresses.
This policy explains all of your rights and obligations when using Bazista Payments.
- Accepting These Terms
- Third-Party Services
- Bazista's Rights and Responsibilities
- Seller Rights and Responsibilities
- Appointment of Bazista as Limited Payment Collection Agent for Sellers
- Payment Processing Fees
1. Accepting These Terms
This document (the Bazista Payments Policy or the “Policy,” for short) sets out your rights and responsibilities when you use Bazista Payments on Bazista’s services (we’ll refer to Bazista.com, and other services as our “Services”), so please read it carefully. By using Bazista Payments, you’re agreeing to the Policy.
In order to make all transactions secure, we offer our users to pay for purchases and accept payments via Bazista Payments (this means to use the created account addresses within Bazista).
Bazista Payments allows sellers to (a) accept payment in different cryptocurrencies and digital assets transactions powered by various blockchains, (b) have those funds credited to a seller’s payment account with Bazista, and (c) have those funds deposited into a seller’s designated wallet address.
Sellers may only use Bazista Payments for the sale of items listed on Bazista’s Services, and agree to ship sold items once a payment transaction is complete and reflected in their payment account. Bazista reserves the right to terminate a seller’s access to Bazista Payments if the seller uses Bazista Payments in any other manner.
Buyers should deposit they internal account address by appropriate cryptocurrency or a digital asset to authorize payment through Bazista Payment.
3. Third-Party Services
Bazista has engaged third-party service providers to perform many of the services related to blockchain transaction processing, including smart-contract oracle, cryptocurrency exchange, identity verification, fraud analysis and regulatory compliance.
Bazista may share your personal or transactional information with those third-party service providers when it's necessary to process payment.
By using a third-party service, you may also be subject to an agreement with the third-party.
If Bazista receives notice that your 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 (but are not limited) suspending your account, disabling listings from your account or suspending your selling privileges.
4. Bazista’s Rights and Responsibilities
As a security measure, we may impose transaction limits on buyers and sellers. For example, we may impose limits relating to the value of any transaction, deposit, or adjustment, or limits relating to the cumulative value of all transactions, deposits, or adjustments during a period of time. We may also impose limits related to the number of transactions per day or other period of time. We 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.
Bazista may refuse service of Bazista Payments 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 Bazista Payments (e.g., where the buyer used a stolen or unauthorized wallet address), Bazista may provide limited payment protection to the seller, in the interest of fairness. You can learn more about our Seller Protection Program here.
Bazista will send you any relevant notices regarding your use of Bazista Payments in accordance with our Electronic Communications Policy.
5. Seller Rights and Responsibilities
A. Use of Bazista Payments. If you live in a country in which allows cryptocurrency and digital asset payments, you are required to sign up for Bazista Payments, which will result in your account accepting payment through deposit transactions to the internal account address. For you to sign up for Bazista Payments and receive payment for transactions made through Bazista Payments, you need to provide information about the profile, as well as any necessary information associated with our KYC & AML Policy. Without this information, Bazista cannot pay you! You can find instructions about how to upload profile information here. If you live in a country in which cryptocurrency and digital asset payments is allowed and you do not provide Bazista with this information, Bazista may refuse you access to the Services until you do so.
B. Payment Accounts. Bazista Payments is only available to sellers who register and are approved for a payment account. A 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 the their information (including any updated information) by accessing public records and obtaining credit reports about the sellers in order to approve a payment account. Sellers also authorize Bazista to verify the sellers’ information from time to time while the sellers are using Bazista Payments. Bazista 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.
Payment accounts are only available to individuals who are eligible to be sellers on Bazista’s services.
In the event that a buyer submits a chargeback, Bazista may block internal payment account of the seller involved in the transaction until that time when dispute will be solved; the seller agrees to provide any requested information to us within five calendar days of the request. Bazista reserves the right to recoup funds associated with buyer chargebacks.
D. Communications. We will inform sellers of each transaction, or of other information pertaining to Bazista Payments, using tab ‘Transactions’ in Balance section and our standard communication procedures (detailed in our Electronic Communications Policy), including by email or through Bazista's Conversations tool.
E. Refunds. Refunds or adjustments paid by Bazista to buyers for payments made through Bazista Payments may be initiated using the refund functionality in the seller’s internal payment account. Any such funds paid by Bazista to cover refunds will be deducted from the seller’s payment account balance.
Fully refunded transactions may be eligible for cancellation in accordance with the Seller Policy and this Help article.
F. International Trade Laws. You agree that your use of Bazista Payments will not involve any countries, entities, individuals or items prohibited by sanctions, embargoes, regulations or orders administered by government agencies.
6. Appointment of Bazista as Limited Collection Agent for Sellers
Each seller appoints Bazista as its agent for the limited purpose of receiving, holding and settling payments to seller. Bazista will settle payments that are actually received by Bazista to each seller, less any amounts owed to Bazista and subject to these Terms. Each seller agrees that a buyer payment received by Bazista, on behalf of seller, satisfies the buyer's obligations to make payment to seller, regardless of whether Bazista actually settles such payment to seller. If Bazista does not settle any such payments as described in these Terms to a seller, such seller will have recourse only against Bazista and not the buyer.
A. Payment Account. All funds resulting from a completed transaction will be reflected as a balance in a seller’s payment account. Transactions are considered complete once the payment is approved by Bazista 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 payment account balance.
Funds in a payment account balance are eligible for deposit (the “Available Balance”) into a seller’s external wallet addresses at the end of any applicable deposit delay, reserve, or hold period as determined by the seller’s bank.
B. Holds and Delays. In some cases, deposits to sellers’ external wallet addresses could be temporarily delayed by an issue at Bazista, at Bazista’s third-party service providers, or at currently state of associated blockchain. We’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 internal payment account balance.
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 payment account.
We usually impose a limit on the withdrawal of funds by the seller for a specific order until the successful end of trading is confirmed by the buyer. These measures are aimed at combating fraud on the marketplace but can be revised privately relying on the rating of the seller and in the course of conversations directly with the seller as well as other cases at the discretion of Bazista.
A reserve is defined as a fixed percentage of a seller’s payment account balance delayed prior to being included as part of a seller’s Available Balance for a period of up to 180 days.
We always work hard to avoid and minimize any delays. However, please note that Bazista is not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.
C. Escheatment. It is the seller’s sole responsibility for confirming his or her external wallet address information to receive the funds. If a seller confirm a wrong address of his or her external wallet or fails to update address of external wallet this can lead to total and partial loss of funds.
B. We may obtain reimbursement of any amounts owed by a seller to Bazista by deducting from future payments owed to the seller, reversing any credits to the seller’s payment account balance, charging the seller’s bill, or seeking reimbursement from the seller by any other lawful means, including by using third-party services. You authorize us to use any or all of the foregoing methods to seek reimbursement.
9. Payment Processing Fees
A. Overview. At the moment Bazista not charges a fee (the “Payment Processing Fee”) for processing each transaction through Bazista Payments. nevertheless, the user must pay the network commission and all related payments provided by the relevant blockchain for all deposits and withdrawals. We reserve the right to modify the Payment Processing Fee at any time.
B. Listing Currency Conversion Considerations for Sellers and Byers. The seller reserves the right to accept a single or several different cryptocurrencies and digital assets for payment. When a seller lists and subsequently sells an item in a cryptocurrency or digital asset other than the seller's prefered payment currency, Bazista will settle the associated convertions of the payment. When such a service is required, Bazista applies an additional transaction charge associated with exchange rate of selected cryptocurrencies and digital assets. Calculation rates are updated hourly.
Sellers may terminate this contract and their acceptance of Bazista Payments at any time by sending an email or contacting our Support Service via conversation form. Bazista may also terminate or suspend a seller’s use of Bazista Payments at any time.
Upon termination, any non-disputed available balance may be withdrawal into a seller’s external wallet address. Bazista reserves the right, upon termination of access to Bazista Payments, 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 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.