Outlet Avenue Payments Policy
Outlet Avenue Payment policy, When you purchase items from our site, you are by default in agreement to all the policies listed below:
- Payment Policy
- Third-Party Services
- The Rights of Outlet Avenue
- Vendor Responsibilities
- Outlet Avenue as a mediator
- Recovery of Debt
- Other payments and charges
- Financial disclosure.
1. Payment Policy
Outlet Avenue has tied up with payment gateway service to allow various forms of transactions to take place on outletave.com and Outlet avenue’s mobile apps. Our users/clients can make payments by credit cards, debit card, Andriod Payment systems as well as Apple Pay. All these transactions can be conducted in the user’s domestic currencies.
These policies explains the users of all their rights and obligations when using:
Avenue’s payment gateway and other services.
This policy confirms our rights and the responsibilities when any user/client/customer users our payment gateway of Outlet Avenue (Outletave.com and our mobile apps). We would appreciate if you would read the policies carefully. All the policies listed are legally bidding between the user and Outlet Avenue FZ LLC.
- User’s are allowed to make payments using credit cards, debit cards and/or some bank transfer services. User’s can also utilize, depending on their device- Apple Pay or Google Pay.
- For any items purchased, these funds will be paid directly to Outlet Avenue’s account to be released to the seller, or
- For any items purchased, these funds will be transferred/deposited directly to the seller bank account by the customer.
We hold the right to add or remove the payments methods for transactions, Notifications for the same will be provided and as when required, by law.
The said payment gateway is only available to be used by sellers/customers who are at least 18 years of age and will be allowed, after the process of approval by Outlet Avenue to conduct any transactions.
Outlet Avenue accepts payments in every currency and is available to be utilized worldwide for any transaction and/or product.
Our payment gateway should only be used by the Sellers to receive payments for their listed items on Outlet Avenue with an agreement that the item will be immediately shipped once the transaction is reflected in their account. In event the payment gateway is used for any transactions other than the one(s) listed, Outlet Avenue reserves full right to revoke the payment of the seller and terminate the sellers account, with or without notice- as per the law.
To avail full transparency from Outlet Avenue (Sellers and Buyers), it is highly recommended to use our payment system as it enables Outlet Avenue to protect Sellers/buyers from fraud, effectively provide the best service to all the parties involved and to quickly stop any misuse of our platform.
2. Third-Party Services
We (Outlet Avenue) have partnered with Stripe as our sole Payment Gateway provider. They perform various services which are not limited to (Few mentioned below):
- Currency exchange
- ID verifications
- Fraud analysis
- Regulations and compliance
- Payment procession
The same service is also used to disburse payments to our sellers. However, the processing time will vary depending on your country of operation.
We (Outlet Avenue) do hold the rights to share certain information which may be shared with third party service provider in relation to the processing of payment as and when required.
In event, Outlet Avenue is notified by the Third-Party of any suspicious activity or any activity that violates/content their service agreement, we reserve full rights to execute action against your shop. These are and will not be limited to, cancelling the said transaction(s), disabling your product listings on our site until the seller/buyer complies with the policies, removing of certain payment methods and/or terminating your seller account and rights.
The Payment Gateway
Our integrated system: Outlet Avenue has one payment gateway. Where the buys make a payment, from our payment gateway. The seller’s account will then be credited with those money from the order and any others from the remaining order(s). It is need to pay the normal processing cost.
Individual/ Direct transaction between the Seller and Buyer: Any payment that is made directly to the seller account by the buyer WITHOUT the use of our (Outlet Avenue FZ LLC) integrated payment gateway are not protected by our sellers agreement and protection. In event our payment gateway is non-operational in the seller’s/ Buyer’s country of operations; we can be notified on firstname.lastname@example.org.
3. The rights of Outlet Avenue
Outlet Avenue Payments feature is subject to the restrictions and might be made accessible, changed, or withdrawn by ourselves at any moment without notice.
We might discontinue our payment service, modify or make it available anytime without notice. We may also impose certain limitations on some buyers/sellers as an added security measure due to:
- Relating to the value of the said transaction.
- Number of transactions per day.
- Cumulative value of the transaction.
We may also permit the purchaser to cancel a certain transaction. We are also not liable to any party if we choose not to carry out a certain deal that would violate any restrictions, we may have set.
Outlet avenue also reserve all the rights to refund a transaction or decline a transaction that we believe is fraudulent, violates trade sanctions, is of high risk or violates any of our policies.
We (Outlet Avenue) can and may, refuse at any time and for any reason the usage of the payment gateway to anyone.
Where a buyer uses an illegal credit or debit card, Outlet Avenue may offer a vendor who sells a genuine item some degree of payment protection.
We at Outlet Avenue FZ LLC maintain records of all the payments made and do not pass any secure data to the sellers, including card details and banking details of the buyers. Sellers are only provided with limited information necessary to execute the shipment of the items.
4. Vendor Rights and Responsibilities
- Payment: Sellers should ensure to provide all the details (Business name, Bank details, Location, business license- if any) etc. Using our (Outlet Avenue’s) payment gateway and agreeing to do so will easily accept payment from any Local or international Cards, Apple or Google Pay. Without this Vital information Sellers will be unable to receive their payments and the account functionality will be limited. In event the payment gateway is non-operational in your country, kindly send a message on email@example.com
- Verification: Vendor portal allows sellers to keep a track of all their sales, related fees of transactions, refunds and other seller services. Sellers should strive to provide updated and complete information as deemed necessary. Sellers should avoid impersonating any individual or business which does not pertains to them. Sellers authorize us, or any agent to verify the information provided (to be provided at registration point on our site) to access public records to gain and verify information to safeguard the integrity of our platform and reduce money laundering, terrorist activities, trade sanctions, frauds. Accounts are approved for eligible sellers who has a credit card or debit card information saved on Outlet Avenue file- Unless otherwise required.
- Disputes: Both the parties (Buyer and Seller) agree to resolve any disputes amongst each other with the usage of the seller tools available, in accordance with the seller policies. Where any disputed transaction is highlighted to Outlet Avenue, we reserve the rights to provide a refund to a buyer and recover the funds from the vendor if any transaction in question is a direct violation of Outlet Avenue’s policies. If the buyer has submitted a charge-back, we will gather all the information from the seller (seller should provide all relevant information to us in 5 working days) we will recoup any charges linked with the buyer chargeback which the seller is liable to pay.
- Notifications: Outlet Avenue portal will display every transaction to the Sellers of any transaction, Sales that is executed. The same will be displayed in the vendor portal as well as an E-mail will be sent out informing the same.
- Refunds: Any refunds initiated via the seller/vendor portal for any payments made via the payment gateway of Outlet Avenue should be claimed no less than 40 days from the date of purchase. Refund for the said item/transaction functionality is void after 40 days from the date of purchase. In the case that there is not enough balance to satisfy the entire refund amount, The selling account is liable to pay the variance of the amount, possibly the card(s) on file. If no such mode or payment is accepted, then Outlet Avenue will provide the buyer with a credit that can be utilized anywhere else for purchases for the same amount as the refund.
We reserve full rights to recoup and to refund buyers from the seller, if we have refused service to the seller or where the seller has unfulfilled overdue orders which are have not yet been sent to the buyers in the stipulated time period.
- The Laws of Trade: Both the parties are in full agreement to not misuse outlet Avenue platform for the promotion of any items which are under sanctions, regulations, embargoes by any administration of the country of operation and/or where the products are being sent to the buyers
- Bank charges: Please do note that Outlet Avenue is not liable for any additional credit card/debit card charges for any transaction by your bank, which you will make on our platform (outetletave.com). These said fee are not charged by Outlet Avenue.
5. Outlet Avenue as a Mediator
Where the payments are made via Outlet Avenue portal, Sellers are automatically gets enrolled where Outlet Avenue acts as a “mediator”. We will by law settle every payment that is made towards the sale(s) to the seller(s), less the amount that is owed to us (Outlet Avenue). The seller(s) agree that the payments received by Outlet Avenue, on the sellers behalf, satisfies all the buyers policies regardless of whether we release the payment to the Seller or not (in event of policy any violation). Where Outlet Avenue does not settle any payment to the seller, the seller ONLY has a recourse with us (Outlet Avenue) and never with the buy under any circumstances.
- For every completed transaction, which will be approved from Outlet Avenue followed by our payment gateway fraud analysis, will be reflected in the vendor/seller portal. Same applied for every refund that will be issued, since the last payment date.
We (outlet Avenue) will notify the Seller in event of any delay in the funds transfer or if there is a hold of the funds, as soon as possible. Though we try and expedite every transaction immediately to the seller(s)/ Buyer(s), we will not be held liable/obligated for any extra/additional charges due to delays, neither will the same be refunded.
Disbursements: We have notified our Payment gateway partner to transfer the funds to our Seller(s) bank account weekly or bi-weekly. Where daily payouts are selected, The funds should be more than a minimum of $30. Where the buys are opted for a weekly or bi-weekly, the payouts will always be initiated on every applicable Sunday. The transfer can take anywhere from Three (3) to Seven (7) days depending on your country/location as well as the bank and/or public/bank holidays in the said country. The seller will also have to wait for at least six (6) days from the initial date of providing the bank account details and for the first (1) deposit to be conducted which will be on the applicable date, from the time of the said change requested in the banking details (if any).
- Payout laws: vendor(s) are responsible to always ensure the banking details are UpToDate to receive the funds, Outlet Avenue will not be able to settle any funds to the seller(s) if the information provided is inaccurate. The sales amount will be displayed in the seller(s) account. Where any policy has been violated, or the information is not updated in the stipulated timeframe of Ten (10) calender days, or for any compliance reasons, Outlet Avenue will escheat the relevant funds of the seller to the governing establishment as required by law to abide with local or international regulations.
6. Recovery of Debt
- Where the seller fails to deliver the goods to the buyer or any policy is violated from the seller(s) policy, we (Outlet Avenue) reserves the full right to refund the buyer where we find 1) a charge back from the buyers issuing bank/or cancellation of the amount due 2) Duplicate payment has been made 3) seller did not comply with the policies.
- Where any funds are owed to Outlet Avenue by the seller, we shall recover the said funds from any future proceeds, reversing any credit granted to the seller and or charging the card(s) on the file. You authorize us to any of the above to make the said recovery, If the amount to be recovered is significant, Outlet Avenue may also possibly suspend privileges for the account.
7. Other Payments and Fees
- Outlet Avenue levies a premium “Fees” for each purchase handled by Outlet Avenue Payments (the “Payment Processing Fee”). The fee is fixed, the said fees will be reflected in your vendor portal and deduction will be applied from the total amount of the payment at the time of reimbursement. The Online Payment Fee is susceptible to change at any moment based on bank fees, kindly do keep in mind Banks location also has a key impact as well.
- Outlet Avenue might be obligated to charge Each month, VAT on seller fees is accumulated then returned it to the appropriate tax regulation, based on your business status and area. No matter where the vendor is located, VAT is taken off the processing fees for Outlet Avenue Payments.
- Outlet Avenue imposes an extra currency conversion fee when such a computation is needed. Rates of calculation are revised often.
- Interest: Due to the timing difference between when we receive money from buyers and when we pay sellers, Outlet Avenue might earn interest.
8. Financial Disclosure
Outlet Avenue must additionally provide tax information to the local tax authorities. These reporting requirements become relevant when vendors use Outlet Avenue to sell to customers in those nations and the total amount of sales in that calendar year exceeds the applicable Tax in United Arab Emirates is 5%.
As you get closer to the reportable threshold or local reportable threshold in the relevant nation, Outlet Avenue requires that you provide your tax/entity name and Tax Number to your Outlet Avenue business in order to comply with these reporting duties. You can learn more about how Outlet Avenue will let you know when you’re getting close to or have passed the relevant local threshold, as well as the nations to which these criteria apply, here. Your ability to sell on Outlet Avenue could be restricted until you give this information.
By changing the Settings in their Outlet Avenue account, sellers can always end this agreement and their acceptance of Outlet Avenue Payments. The usage of Outlet Avenue Payments by a seller may also be discontinued or suspended at any moment by Outlet Avenue.
Any uncontested After termination, a vendor’s checking account will get the available funds. Upon termination of access to Outlet Avenue Payments, Outlet Avenue reserves the right to deduct from any payments what is due to the seller if the amount is less, by outlet avenue to pay for any foreseeable chargebacks, reimbursements, and changes, or any other charges that are to be paid to the customer, for a 40-day period.