Because SWAPD operates under a Merchant of Record (MoR) model, all payments are processed through our legal entity, VEYYO Limited Partnership. This means SWAPD, not individual subcontractors, is the official seller of record for every transaction.
How To Request an Invoice
- Invoices must be requested while the checkout ticket is still open, after SWAPD/VEYYO has collected payment from the buyer.
- Once a transaction is closed, SWAPD cannot issue new invoices for accounting and compliance reasons. (After closure, all financial records are locked for reconciliation and tax reporting, which prevents backdated invoice generation.)
- To request an invoice, simply notify SWAPD staff within the checkout ticket.
Who Issues Invoices?
- Buyers receive invoices directly from SWAPD (VEYYO Limited Partnership).
- The invoice will list VEYYO Limited Partnership as the seller of record, not the subcontractor.
- Invoices are automatically generated once payment is made and are available through your SWAPD account.
What About Taxes?
- As the Merchant of Record, VEYYO Limited Partnership is responsible for handling taxes where applicable.
- Taxes such as VAT, GST, HST, or sales tax may apply depending on the buyer’s country of residence.
- The applicable tax amount (if any) will be displayed at checkout before you complete your payment.
- Buyers should always review their local tax obligations; SWAPD/VEYYO collects and remits taxes only where legally required.
Do Subcontractors Need to Charge Taxes?
- No. Subcontractors (service providers or asset owners) do not charge buyers directly.
- Subcontractors are suppliers to SWAPD, not the end customer.
- Payments to subcontractors are treated as payouts from SWAPD, not direct customer payments.
- Subcontractors are responsible for handling their own tax obligations in their country of residence (e.g. income tax).
Refunds and Adjustments
- Refunds (full or partial) are issued by SWAPD as the Merchant of Record.
- If a transaction is canceled before delivery, the buyer is refunded and an adjusted invoice/credit note will be issued.
- If a dispute is resolved in favor of the buyer, SWAPD will refund the buyer directly and hold the subcontractor liable for the balance owed. Subcontractors are obligated to reimburse SWAPD for any such losses under the platform’s Terms of Service.
Key Points to Remember
- Buyers purchase from SWAPD (VEYYO Limited Partnership), not directly from subcontractors.
- All official invoices come from VEYYO.
- Taxes are applied and remitted by SWAPD only where required by law.
- Subcontractors are responsible for their own reporting of payouts as income in their jurisdiction.