BY USING THE SERVICES TO SELL GOODS, YOU ACCEPT ALL OF THE PROVISIONS OF THESE SELLER TERMS AND CONDITIONS AND REPRESENT TO US THAT YOU ARE LEGALLY COMPETENT TO ENTER INTO AND AGREE TO THESE SELLER TERMS AND CONDITIONS. IF YOU DO NOT ACCEPT THESE SELLER TERMS AND CONDITIONS, THEN YOU ARE NOT AUTHORIZED TO SELL GOODS USING ANY OF MONEYBAG’S SERVICES.
For purposes of these Seller Terms and Conditions, “you” and “your” means you as the user of the Services. If you use the Services on behalf of a company, organization, or other entity, then (a) “you” includes you and that entity, (b) you represent and warrant that you are an authorized representative of the entity with the authority to bind the entity to these Seller Terms and Conditions, and that you agree to these Seller Terms and Conditions on the entity’s behalf, and (c) your entity is legally and financially responsible for your use of the Services as well as for the use of your account by others affiliated with your entity, including any employees, agents or contractors.
All users who sell goods using the Services must accept and comply with the terms and conditions set forth herein. If you have any questions regarding these Seller Terms and Conditions, please contact us via email at SUPPORT@MONEYBAG.COM.
Authenticity & Cancellation
Authenticity. You represent and warrant that all items you submit for consignment sale (“Consignment Items”) are authentic, as determined in MONEYBAG’s sole discretion. Sale Items are not deemed authentic by MONEYBAG until received, reviewed, and approved by MONEYBAG. Issuance of payment by MONEYBAG for any Sale Item is not evidence of authenticity. If any Consignment item is found to be a counterfeit, or not authentic, MONEYBAG will return the item to the seller upon payment of an Authentication Fee of $50 or $100 if the item is an Hermes Birkin or Kelly. Seller agrees to return any and all funds issued for such item(s) to MONEYBAG.
Consignment Items. All sales are deemed final at the time of sale. Notwithstanding the foregoing, in the event we determine that any Consignment Item is not authentic or you request that any Consignment Item be returned to you and not sold prior to the end of the Term, (i) you will immediately return to MONEYBAG any and all payments issued to you for such Consignment Items, (ii) you will pay to MONEYBAG an authentication fee of US $100 for Hermes Birkin or Kelly Consignment Items or US $50 for all other Consignment Items (each, an “Authentication Fee”), and (iii) MONEYBAG will return to you such Consignment Item at your sole expense; provided, however, that Consignment Items for which any Authentication Fee has been left unpaid for sixty (60) days or more may be destroyed.
Retention of Sale Items. We reserve the right to take any action permitted under the law to offset any costs incurred by MONEYBAG in connection with your submission of inauthentic Sale Items, including but not limited to retaining any of your authentic Sale Items or referring the matter to a third party collections agency.
Pricing; Fees; Discounts
Pricing. MONEYBAG reserves the right to determine prices for all Sale Items in its sole discretion based on comparable prices for items of the same or similar style and condition. Prices for Sale Items are not guarantees of future payment amounts. MONEYBAG may, at any time, revise or change the pricing, availability, specifications, content, descriptions or features of any products sold or services offered through the Services. We reserve the right to change prices for products displayed on the Services, or the Services, at any time, and to correct pricing errors that may inadvertently occur. All such changes shall be effective immediately upon posting of such new product prices to the Services and/or upon making the customer aware of the pricing error.
Consignment Fees. MONEYBAG will take as fees the following percentages from the proceeds of the sale of your Consignment Items:
15% of the sale price for the portion of a sale price
We may change these fees from time to time by posting the changes on the Website or by otherwise providing written notice to you of such changes.
Discounts. MONEYBAG reserves the right to discount the sale price of unsold Sale Items in accordance with the following schedule:
10% discount if unsold after thirty (30) days;
20% discount if unsold after sixty (60) days
Term. These Seller Terms and Conditions will be effective upon your submission to MONEYBAG of any Sale Item and will continue until terminated in accordance with these Seller Terms and Conditions (the “Term”). The Term of Consignment is 60 days.
Early Termination. Early termination of a Consignment agreement will result in an authentication fee charged to the Seller of US $100 for Hermes Birkin or Kelly Items or US $50 for all other Items (each, an “Authentication Fee”).
Payment Methods. You must maintain a payment method on file when selling through the Services. You acknowledge and agree that all information you provide with regards to your payment method, including, without limitation, credit card, debit card, PayPal, or other payment information, is accurate, current and complete. You represent and warrant that you have the legal right to use the payment method you provide to us or our payment processor, including, without limitation, any credit card you provide when completing a transaction.
Payments. Subject to these Seller Terms and Conditions, MONEYBAG will issue payment for the sale of a Consignment Item minus the applicable fees described in these Seller Terms and Conditions, to your payment method on file; provided that MONEYBAG will only issue payment after purchaser’s payment for such Sale Item has cleared and the Sale Item has shipped. MONEYBAG will issue your payment according to the payment method of choice. Payment methods include: wire transfer, direct deposit, check, or store credit. Store credit payments will enjoy an additional 5% bonus in value. You may change your payment method at any time; however, changes will apply to future payments only. Payment methods cannot be changed for payments that have already been initiated.
Modifications. We may modify these Seller Terms and Conditions at any time. Modifications become effective immediately upon your first access to or use of the Services after the “Last Revised” date at the top of these Seller Terms and Conditions. If we make changes that are material, we may use reasonable efforts to attempt to notify you, including by email or placing a prominent notice on the Website. However, it is your sole responsibility to review the Seller Terms and Conditions from time to time to view any such changes. Your continued access or use of the Services after the modifications have become effective will be deemed your conclusive acceptance of the modified Seller Terms and Conditions. If you do not agree with the modifications to the Seller Terms and Conditions, then please do not access or use the Services to sell goods.
Violations. If we believe you are violating these Seller Terms and Conditions, you may be subject to a range of actions, including limits on your buying and selling privileges, restrictions on listings and account features, suspension of your account, application of fees, and recovery of expenses for policy monitoring and enforcement.
405 HOWARD STREET
SAN FRANCISCO, CA
Last Updated: MAY 5, 2019