Payments Policy
Last Updated: 4/23/2021
Introduction
Truffle Board allows registered users to securely place orders for fresh culinary truffles (“Truffles”) on the mobile application and the Website subject to agreement to the Terms and Conditions of Service, the Mobile Application Term of Use, the Privacy Policy, and other Policies (collectively, the “Agreement”). Accordingly, by applying to become a Seller or Buyer and/or through conducting any transaction through our Services, you are confirming your agreement to this Agreement and that you have read and understand this Payments Policy which outlines your rights and obligations with respect to making and receiving payments on Truffle Board. Modifications may be made to this Policy from time to time.
Overview
Truffle Board allows Sellers to accept payment from Buyers through a payment method on file, and to have those funds deposited into a Seller’s designated bank account.
The marketplace features of Truffle Board are only available to Sellers and Buyers who are at least 18 years of age. Sellers must be registered and approved for a payment account with Truffle Board which is powered by a third party service provider (see below). Currently, Sellers and Buyers must be located in the USA or Australia (“supported countries”) to accept or make payment. Sellers may only use Truffle Board for the sale of Truffles listed on Truffle Board and Sellers and Buyers are not permitted to circumvent the marketplace by selling or purchasing goods listed on the Website to or from other users of the Services outside of the Website or Application. We reserve the right to limit or terminate a Seller’s or Buyer’s access to Truffle Board if the Seller or Buyer breaches the terms of this Agreement.
Third-Party Services
Truffle Board 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.
Truffle Board partners with Stripe to facilitate payment processing and the disbursement of funds to Sellers. Through Truffle Board, Sellers must create a Stripe account in order to receive payment for goods through our platform. For Buyers, if there is insufficient funds on your payment method when our payment provider processes the payment for your purchase, Truffle Board reserves the right to contact you directly to seek payment.
Truffle Board may share your personal or transactional information with third-party service providers when it’s necessary to process payments. Please see further the Truffle Board Privacy Policy for information about third party services providers.
By using a third-party service, you may also be subject to an agreement with the third-party. For example, Stripe is a third-party service provided by Stripe, Inc. and is subject to the Stripe, Inc. Terms & Conditions and Privacy Policy.
Truffle Board’s Rights and Responsibilities
Payment functionality may be modified and use of specific third party services may be discontinued or replaced by us at any time without prior notice.
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.
Truffle Board reserves the right to decline transactions that we believe, in our sole opinion, to be high risk, fraudulent, or in violation of this Agreement.
Truffle Board does not store any sensitive payment information. Buyers’ payment information is collected, held and managed by Stripe, not Truffle Board, and any Seller banking information collected by Truffle Board is stored by Stripe.
Seller Rights and Responsibilities
Use of Truffle Board
To accept orders on Truffle Board, you must provide valid business and banking information for a bank account. Without this information, you will not be able to accept orders.
Payment Accounts
Only Sellers that are approved for a payment account may accept orders on Truffle Board. A payment account allows Sellers to track payment amounts and fees related to transactions. If you are a Seller, you authorize us, and our authorized agents, to verify your billing/banking information, registration and product information (including any updated information) by accessing public records, sharing select information with a third party for verification purposes, and/or obtaining credit reports about you in order to approve a payment account. Sellers also authorize us to verify the Sellers’ information from time to time while the Sellers are using Truffle Board. Truffle Board endeavors to verify 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 but Truffle Board does not and cannot guarantee that any verification process will prevent fraudulent or unlawful activities by Sellers.
Disputes
Sellers agree to resolve any disputes directly with a Buyer related to an order completed on Truffle Board. In the event that a dispute is escalated to Truffle Board’s Support Team, we reserve the right to seek reimbursement from a Seller and/or to issue a refund to a Buyer if a transaction is found to be in violation of Truffle Boards Terms & Conditions.
In the event that a Buyer submits a chargeback, Truffle Board 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 (5) calendar days of the request. We reserve the right to recoup Seller funds associated with Buyer chargebacks.
Communications
We will inform Sellers of each transaction, or of other information pertaining to Truffle Board, using email or through Truffle Board’s messaging tool.
Deposits
Overview
Truffle Board will instruct our payment partners to initiate a deposit of a Seller’s transaction proceeds, less applicable fees, into the Seller’s bank account within seven (7) business days of the buyer confirming receipt of the truffles. Should the anticipated payment release date fall on a weekend or holiday, it will be postponed to the next business day.
When a Seller either initially provides or later changes his or her bank account information, the Seller may have to wait at least five (5) calendar days to request a deposit into a bank account as a security precaution. The next deposit after a change to bank account information will occur on the next applicable day after a period of five (5) calendar days from the date of the requested change.
Currency
At this time all transactions on Truffle Board are in US Dollars. If your bank account is in a different currency, our payment provider, Stripe, will convert the transferred amount to your bank account currency at a rate outside Truffle Board control.
Holds and Delays
In some cases, deposits to Sellers’ bank accounts could be temporarily delayed by an issue at Truffle Board, at Truffle Board’s third-party service providers, or at a Seller’s bank. 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, or a Seller’s actions has violated our Terms & Conditions, then we may, in our sole discretion, put a hold or a deposit delay.
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.
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.
If Truffle Board places a hold or a deposit delay, we’ll do our best to communicate with the affected Seller as soon as we can.
We always work hard to avoid and minimize any delays. However, please note that we are not obligated to refund any fees or reimburse any expenses due to holds or delayed deposits.
Escheatment
If we cannot settle funds into a Seller’s bank account, the funds will remain in the Seller’s payment account. It is the Seller’s sole responsibility to update his or her bank account information to receive the funds. To update your bank information, please email us. If a Seller fails to update the information to claim the funds within a certain period of time, Truffle Board may escheat the funds to the relevant government authority in order to comply with escheatment laws.
Recoupment
We reserve the right, in our sole discretion, to seek reimbursement from a Seller in any of the following circumstances: (a) we provide a refund to a Buyer because a Seller did not promptly deliver the goods or we otherwise determine that a refund is warranted in a particular circumstance, (b) we discover erroneous or duplicate transactions related to a Seller, (c) we receive a chargeback from a Buyer’s credit card issuer or reversal of payment for the amount of a Buyer’s purchase from a Seller, (d) the Seller did not act in good faith when selling goods, or (d) a Seller does not act in accordance with Truffle Board’s Terms & Conditions.
We may obtain reimbursement of any amounts owed by a Seller to Truffle Board by, although not limited to, reversing any credits to the Seller’s payment account balance, charging the Seller’s bill, deducting from future payments owed to the Seller, 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.
Fees
Overview
As described in the Fee and Commission Schedule, orders in any way originating on Truffle Board and/or executed through Truffle Board will incur a referral fee on the net order value (total order value less any taxes, duties, shipping costs, and less promotions or discounts provided to you by Truffle Board) paid to Truffle Board. Referral fees include processing fees accrued by Truffle Board. Referral fees will be added to your Truffle Board invoice. We reserve the right to modify our fee structure at any time.
Processing Fees
Payment processing fee, per transaction, as charged by Truffle Board’s payment processor are included into the Referral fees. Processing fees may change from time to time, without prior notice.
Bank Fees
Truffle Board is not responsible for any transaction fees which may be charged by your bank when making deposits.
Reporting
Any reporting obligations in respect of sales and transactions are solely the responsibility of Seller.
Termination
On termination of this Agreement for any reason, any undisputed net transactions proceeds will be deposited into a Seller’s bank account. Truffle Board reserves the right, upon termination of access to Truffle Board, 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.