a. By registering for the Reverb Bucks Program on Reverb.com (the “Site”) and by using the direct checkout service (“Direct Checkout”) on the Site to consummate a Reverb Bucks transaction as a seller (“Registered Seller” or “Registered Sellers”) or a purchaser (“Buyer” or “Buyers”), you agree to be bound by the terms and these Reverb Bucks Terms & Conditions (the “Agreement”). The Agreement is a legal agreement between you and Reverb.com, LLC and by using the Site you hereby waive any arguments or claims that the Agreement does not apply to you (“Reverb,” “we,” or “us”).
b. The Reverb Bucks Program is a Reverb initiative that allows users to keep funds on their Reverb accounts and for Registered Sellers to convert a Buyer’s payment by credit card or Reverb gift card into a Reverb specific currency called “Reverb Bucks” which can be used for future purchases on the Site. Reverb Bucks are reflected on a Registered Seller’s Direct Checkout Account and, subject to Section 1(f), they do not expire. Reverb Bucks shall be held in an account at a third party financial institution for the benefit of Reverb customers.
c. A Registered Seller may acquire Reverb Bucks in multiple ways. First, a Registered Seller may elect to convert a credit card or Reverb gift card payment made via Direct Checkout into Reverb Bucks. If a Registered Seller elects to convert his or her incoming payment into Reverb Bucks, he or she will receive a 1% discount on their next eligible purchase whereby the total of Reverb Bucks allocated to said purchase will be reduced by 1% (the “Bucks Boost”). Second, a Registered Seller may receive Reverb Bucks by electing to accept Reverb Bucks as a form of payment for an item he or she has listed on the Site. All Reverb Bucks payments to Registered Sellers will be made after the deduction of applicable fees as outlined in section (7).
d. Reverb Bucks may only be used to purchase items from Registered Sellers who have elected to receive Reverb Bucks as a form of payment for such items.
e. Reverb Bucks may be converted to cash, at any time, upon the Registered Seller’s written request through the Site. Any Bucks Boost will be removed upon conversion of Reverb Bucks to cash and the original sale price amount will be deposited in Registered Seller’s designated bank checking account.
f. If Reverb Bucks are not used within three (3) years of issuance, Reverb will send a check for the cash equivalent of any Reverb Bucks balance in Registered Seller’s Account to Registered Seller’s last known address, with an adjustment for the removal of any Bucks Boost.
a. In order to buy or sell items using Reverb Bucks (a “Reverb Bucks Transaction”), such Buyer or seller must be a Registered Seller with a Reverb Direct Checkout Account (“Direct Checkout Account”). Reverb Bucks may only be spent and are only accepted through Direct Checkout. Direct Checkout allows Registered Sellers to accept authorized credit card transactions or Reverb gift card payments and have those funds converted into Reverb Bucks under this Agreement (a “Reverb Bucks Conversion”). Direct Checkout allows a Registered Seller to then spend those Reverb Bucks as a Buyer.
b. Reverb helps facilitate marketplace transactions. It is not the purchaser of any seller’s goods and it is not the agent of a buyer in a transaction through the Site. Reverb’s receipt of a payment through Direct Checkout is related to a transaction between a Registered Seller and the relevant buyer and not Reverb or any of Reverb’s affiliates. Reverb provides a payment processing platform for Registered Sellers and it is not a party to any transaction through the Site. See Reverb’s general Terms & Conditions for more information.
c. Direct Checkout is generally available seven (7) days per week, twenty-four (24) hours per day, except for scheduled downtime due to system maintenance. This is not, however, a warranty or guarantee of any such availability, but merely a projection of estimated availability. By using the Site you accept that delays and outages are inevitable, acknowledge that the site is being provided “AS IS” and with all faults, and waive any claims with respect to the same.
d. Direct Checkout is only available to sellers who and are approved for a Direct Checkout Account (a “Registered Seller”). Sellers must meet the following requirements to obtain and maintain Registered Seller status: (a) sellers must be at least 18 years old to register for a Direct Checkout Account; (b) prior to enrolling, sellers must register bank account information and undergo identity verification; (c) sellers must be current on all Reverb fees and have valid payment information on file; (d) once enrolled, sellers must maintain an average of 4 of 5 star or 80% positive feedback ratio to continue to participate in Direct Checkout; (e) once enrolled, sellers must maintain a rate of order cancellation below 10% of their total order volume; (f) prior to enrolling, sellers must publish policies for refunds and returns for their shops; (g) once enrolled, sellers must maintain policies for refunds and returns for their shops; and (h) once enrolled, sellers must continue to comply with this Agreement.
e. Direct Checkout functionality may be made available, modified, or discontinued by us at any time without notice and is subject to the limitations in Reverb’s general Terms & Conditions.
f. As a security measure, we may impose transaction limits on some or all Buyers, and/or Registered Sellers on any transaction, deposit, or adjustment, the cumulative value of all transactions, deposits, or adjustments, or the number of transactions per day or during any other period of time. We will not be liable to a Registered Seller: (i) if we do not proceed with a transaction, deposit, or adjustment that would exceed any limit established by us; or (ii) if we permit a Buyer to withdraw from a transaction to avoid exceeding a Reverb-established transaction limit.
g. We may refuse service to anyone, for any reason, at any time.
a. Buyers may only authorize a Reverb Bucks Transaction if at least part of the total payment is being made with Reverb Bucks.
b. By registering for Direct Checkout, a Registered Seller agrees to always comply with and to sell items in accordance with Reverb’s general Terms & Conditions.
c. The use of Direct Checkout must be solely for the sale and purchase of items listed on the Site. A Registered Seller agrees to ship sold item(s) once the Reverb Bucks Transaction is complete and reflected in the Direct Checkout Account. Reverb reserves the right to terminate Registered Seller’s access to Direct Checkout if Registered Seller is determined to be using Direct Checkout for transfer of funds not related to the sale of items listed on the Site.
d. Reverb reserves the right to decline any Reverb Bucks Transactions that we have reason to believe may be high risk, fraudulent, or in violation of this Agreement. Reverb also retains the right to refuse to complete any transaction in Reverb Bucks at any time and for any reason. In the event of such a refusal, the transaction will be completed in ordinary currency with no associated Bucks Boost.
e. Reverb will bear the risk of credit card fraud (i.e. fraudulent purchase arising from the theft and unauthorized use of a third party’s credit card information) occurring in connection with Reverb Bucks Transactions. In the event a Registered Seller or Buyer is indirectly or directly involved with and/or participates in any credit card fraud, Reverb will not be liable and such Registered Seller or Buyer will be subject to indemnification obligations set forth in Paragraph 15 of Reverb’s general Terms & Conditions. Additionally, such Registered Seller or Buyer’s access to the Site may be terminated immediately. Reverb retains the right to contact the appropriate law enforcement agency and to report the Registered Seller or Buyer’s activities on the Site. In the event Reverb exercises this right, or if a Registered Seller or Buyer is found in violation of this provision, the Registered Seller or Buyer hereby consents to the disclosure of any information, including personal information, to any appropriate law enforcement agency.
a. Direct Checkout is only available to Registered Sellers. A Direct Checkout Account allows Registered Sellers to track payment amounts, refunds, and fees related to Reverb Bucks Transactions and Reverb Bucks Conversions. Prospective Registered Sellers must provide personal information as requested during registration, must provide Reverb true and accurate information, and must maintain and update that information as necessary. Prospective Registered Sellers will not impersonate any person or use a name they are not legally authorized to use. A prospective Registered Seller authorizes us, and our authorized agents, to verify information (including any updated information) by accessing public records and to obtain credit reports about prospective Registered Sellers in order to approve prospective Registered Sellers for use of the Direct Checkout service. Registered Sellers also authorize us to verify their information from time to time while they are using Direct Checkout. The Direct Checkout service is available only to individuals who meet the terms stated in this Agreement and those who qualify for Reverb’s Preferred Seller Program
b. Reverb reserves the right to conduct periodic audits of Registered Seller’s registration information and usage of Direct Checkout.
c. A Registered Seller will attempt to resolve any dispute directly with a Buyer before seeking the assistance of the Reverb Customer Support Team. In the event of a dispute being escalated to Reverb’s Customer Support Team, Reverb reserves the right to issue a refund to Buyer if the disputed transaction is found to be in violation of Reverb’s general Terms & Conditions. In the event of chargebacks submitted by a Buyer, Reverb will respond to credit card networks on behalf of Registered Seller; Registered Seller agrees to provide any requested information to us within five (5) calendar days of the request. Reverb reserves the right to recoup funds associated with Buyer chargebacks in accordance with Section 6 of this Agreement. Section 8 of the Terms & Conditions is hereby incorporated by reference as if set forth fully herein.
d. We will inform Registered Sellers of each Reverb Bucks Transaction or Reverb Bucks Conversion, and other information pertaining to Direct Checkout, using our standard communication procedures, including e-mail or other messaging services associated with Registered Seller’s Direct Checkout Account.
e. Registered Sellers may provide refunds or adjustments to Buyers for their Reverb Bucks Transactions made on Reverb using refund functionality enabled by Reverb and accessible through the Direct Checkout Account. Funds to cover refunds will be deducted from Registered Seller’s Direct Checkout Account balance. In the event of insufficient funds to cover the amount of the refund, Registered Seller’s credit card on file will be charged and REGISTERED SELLER EXPRESSLY CONSENTS TO THESE CHARGES. A Registered Seller may provide “in kind” refunds or adjustments such that a refund or adjustment for an item purchased with Reverb Bucks may be refunded with Reverb Bucks.
f. Fully refunded Reverb Bucks Transactions may be eligible for cancellation in accordance with the customer service guidelines outlined in Reverb’s FAQs.
g. Registered Sellers can access Reverb Bucks Transaction information online in his or her Direct Checkout Account. Registered Sellers may access the Direct Checkout Account only with a browser that is compatible with Direct Checkout, including any security features that are a part of Direct Checkout.
a. All funds resulting from a completed Reverb Bucks transaction will be reflected as a balance in Registered Seller’s Direct Checkout Account. Reverb Bucks transaction are considered complete once the payment is approved by Reverb. If Registered Seller’s first sale date is less than ninety (90) days from the day Registered Seller registers for Direct Checkout, Reverb Bucks transaction completion also requires that the sold item is marked as “shipped” using the tools made available in Registered Seller’s Direct Checkout Account. Any refunds, adjustments, or other amounts paid to buyers in connection with purchases, are also applied to Registered Seller’s Direct Checkout Account balance. Funds in a Direct Checkout Account balance are eligible for deposit (“Available Balance”) into Registered Seller’s personal checking account (“Cash Deposit”) at the end of any applicable deposit delay, reserve, or hold period as discussed herein.
b. Upon Registered Seller’s election of payment by credit card or Reverb gift card, we will initiate a Cash Deposit of Registered Seller’s Available Balance into Registered Seller’s personal checking account at a regular, agreed upon date (“Payment Date”) with the Registered Seller. Each Payment Date will fall on standard Monday through Friday (“Business Days”) with the possible exclusion of US national and/or bank holidays. If the scheduled Payment Date interval falls on a non-Business Day, the Payment Date will then fall on the next regular Business Day on which transfers are completed. When Registered Seller either initially provides or later changes his or her bank account information, Registered Seller must wait at least five (5) calendar days to request a deposit into Registered Seller’s personal checking account. The next scheduled deposit after a change to personal checking account information will occur on the next scheduled Payment Date after a period of five (5) calendar days from the date of the requested change. Deposits into Registered Seller’s personal checking account will generally be credited within three (3) to five (5) Business Days of the date we initiate the transfer but Reverb makes no warranties or guarantees with respect to the amount of time it may take to complete a deposit into a Registered Seller’s personal checking account.
c. If we reasonably conclude, based on information available to us, that a Registered Seller’s actions and/or performance in connection with Direct Checkout may result in buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put into effect a hold, deposit delay, or reserve associated with Registered Seller’s Direct Checkout Account balance. A hold may be put on funds associated with a particular transaction in the event of disputes or investigations associated with the order for the shorter of: (a) 180 days after the estimated delivery date; or (b) completion of any investigation(s) regarding any Registered Seller actions and/or performance in connection with the transaction. 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. A deposit delay may be between 0 and 180 days. A deposit delay is applied across all transactions for a Registered Seller. A reserve is defined as a fixed percentage of Registered Seller’s Direct Checkout Account balance which is delayed prior to being included as part of Registered Seller’s Available Balance for a period of up to 180 days. All holds, deposit delays, and reserves will be communicated to Registered Seller by e-mail or a notice on the Site. We will not be liable to a Registered Seller if we act in accordance with the provisions of this Section 5 and Registered Seller hereby waives all claims with respect to the same.
d. In the event funds designated for cash payment cannot be deposited into Registered Seller’s personal checking account, the funds will be made available in Registered Seller’s Direct Checkout Account balance. Registered Seller will be required to update his or her personal checking account information and such funds will automatically be transferred to Registered Seller’s new personal checking account within 7 business days.
a. We reserve the right to seek reimbursement from a Registered Seller if we, in our sole discretion, provide a refund to a buyer if Registered Seller cannot promptly deliver the goods, if any fraudulent activity is discovered (as determined in our sole discretion), if we discover erroneous or duplicate transactions, if we receive a chargeback from buyer’s credit card issuer for the amount of buyer’s purchase from Registered Seller, or Registered Seller otherwise does not act in accordance with Reverb’s general Terms & Conditions.
b. We may obtain reimbursement of any amounts owed by Registered Seller to Reverb by deducting the amounts owed from future payments owed to Registered Seller, reversing any credits to Registered Seller’s Direct Checkout Account balance, charging Registered Seller’s credit card on file, or seeking such reimbursement from Registered Seller by any other lawful means, including collections. You expressly authorize us to use any or all of the foregoing methods to seek reimbursement, including the charging of your credit card or debiting from your checking account.
a. Platform use fees for Direct Checkout vary by domicile of a Registered Seller’s bank and are applied to each order completed via Direct Checkout between a U.S. based buyer and a U.S. based Registered Seller. This fee is assessed on the gross amount of the sale, including tax and shipping. Unlike other fees, the platform use fee is deducted from the transaction amount as the funds become available for deposit. Accordingly, Registered Seller will receive the gross amount of the sale, including tax and shipping, net the Direct Checkout platform use fee. Platform use fees will be reflected in your Direct Checkout Account.Platform use fees:
|Payment Method Enrolled in||Direct Checkout Platform Use Fees|
|Reverb Direct Checkout||$0.25 plus 2.7% of transaction total USD|
|Reverb Direct Checkout as a Preferred Seller||$0.25 plus 2.5% of transaction total USD|
b. For U.S. Registered Sellers, Internal Revenue Service (“IRS”) regulations require that U.S. third-party settlement organizations and payment processors, including Reverb, file Form 1099-K to report unadjusted annual gross sales information for sellers that meet both of the following thresholds in a calendar year (reporting):
1. More than $20,000 in gross sales, and
2. More than 200 transactions.
c. As a result of these regulations, Registered Sellers who approach one hundred and seventy-five (175) transactions in a calendar year, regardless of sales volume and aggregated across the Reverb selling account, will be required by Reverb to provide taxpayer-identification information and will be notified via e-mail and through other communication channels available on the Site.
a. All notices will be sent by e-mail or will be posted on the Site or by any other means then specified by Reverb. We will send notices to a Registered Seller at the e-mail address maintained in Reverb’s records for such Registered Seller. A Registered Seller will monitor e-mail messages frequently to ensure awareness of any notices sent by us and otherwise agrees to the notification clause in Reverb’s general Terms & Conditions. Registered Sellers will send notices to us using the functionality for contacting Reverb provided in our Support Section.
a. A Registered Seller may terminate acceptance of credit card or Reverb gift card payments through Direct Checkout at any time by adjusting the Shop Settings.
b. Reverb may terminate a Registered Seller’s use of Direct Checkout without notice to Registered Seller for any reason. Upon termination, any non-disputed available balance resulting from a transaction will be deposited into Registered Seller’s personal checking account and Registered Seller will still have access to his or her Direct Checkout Account for at least 30 days following termination. We reserve the right, upon termination of access to the Direct Checkout service, to set off against any payments to be made to Registered Seller, an amount determined by us to be adequate to cover any anticipated chargebacks, refunds, adjustments or other amounts paid to buyers in connection with purchases from Registered Seller’s Direct Checkout Account for a prospective 180-day period. At the end of such 180-day period following termination, we will disburse to Registered Seller any amount not used to offset chargebacks, refunds, adjustments, or such other amounts paid to buyers, or seek reimbursement from Registered Seller via any of the means authorized herein for any additional amount required to offset chargebacks, refunds, adjustments, or other amounts paid to buyers, as applicable. Refer to Reverb’s general Terms & Conditions for additional information regarding termination of a Registered Seller’s account.
Reverb reserves the right to alter these policies at any time
Updated: March 13, 2017