This summary outlines the key aspects of the updated DropChain Marketplace Merchant Agreement. By signing the complete legal document, you commit to adhere to these terms and conditions as a Merchant on the DropChain Marketplace.
Representations and Warranties:
You have the legal authority to enter the Agreement and sell your digital assets.
Your digital assets do not infringe on any third-party rights (e.g., copyright, trademark).
You will comply with all applicable laws and regulations (e.g., tax, data privacy).
Provide clear and accurate information about your digital assets.
Maintain a transparent refund and return policy.
Promptly resolve customer disputes and inquiries.
Follow DropChain's rules and guidelines for listing digital assets.
Update your digital asset listings as needed to ensure accuracy and compliance.
Fees and Charges:
Credit Card Processing Fees: For each credit card transaction, there will be a credit card processor fee of 0.35% + $0.30.
Cryptocurrency Fees: Purchases made with cryptocurrency will not incur credit card processing fees but instead, a Coinbase Commerce fee of 2%.
Chargeback Fees: A chargeback fee of $45 will be levied. DropChain will cover chargebacks up to 1% of the transaction volume. If chargebacks exceed this percentage, the merchant will bear the extra chargeback fees from its deferred earnings/funds.
Marketplace Platform Fee: After the application of credit card or Coinbase Commerce fees, a 7.5% marketplace platform fee will be charged and payable to DropChain Inc.
Your reputation score increases with more sales, potentially resulting in lower fees.
You agree to indemnify DropChain against any claims, damages, or losses resulting from your breach of the Agreement, your digital assets, or your use of the Marketplace.
Term and Termination:
The Agreement lasts until terminated by either party with a 30-day written notice.
Upon termination, settle any outstanding obligations or unpaid fees and cease listing your digital assets on the Marketplace.
DropChain may modify the Agreement terms or add new conditions, and your continued use of the Marketplace signifies your acceptance of the changes.
You agree to keep confidential any non-public information obtained from DropChain related to the Marketplace, including pricing, fees, and reputation score system.
By signing the full legal document, you agree to adhere to the terms and conditions outlined in the DropChain Marketplace Merchant Agreement. This summary is provided for convenience only and does not replace or supersede the full legal document.