Effective Date: TBA
At SWAPD, we aim to maintain a fair and secure trading environment. However, disputes require time, effort, and resources to resolve. To cover the costs of dispute resolution and deter bad-faith transactions, a 5% dispute fee applies to transactions that enter a dispute state.
1. When Does the 5% Fee Apply?
The 5% dispute fee is charged only if SWAPD has to intervene in a dispute. The fee is applied based on the following conditions:
- If a party is found to have lied, attempted to defraud, or violated SWAPD’s terms (or the ticket terms), they will be required to pay a 5% fee of the total transaction amount.
- If the dispute is resolved and the rightful party recovers their funds, the losing party is responsible for paying the 5% fee.
- If both parties are found equally responsible for the dispute, the 5% fee is split evenly, with each party paying 2.5%.
- If SWAPD cannot recover the funds due to external reasons, such as chargebacks or irreversible payments, the platform may waive or adjust the fee at its discretion.
2. Who Pays the Fee?
| Scenario | Who Pays the 5% Fee? |
|---|---|
| Buyer makes a false claim or commits fraud | Buyer pays 5% |
| Seller fails to deliver or misrepresents the product/service | Seller pays 5% |
| Both parties contribute to the dispute | Each pays 2.5% |
| Funds are unrecoverable | Fee may be waived or reduced |
3. How is the Fee Deducted?
- If a party loses the dispute, the 5% fee is deducted from their funds before returning the remaining balance to the rightful party.
- If the transaction is refunded, the 5% fee is deducted before the refund is processed.
- If the dispute is inconclusive, both parties will each pay a 2.5% fee from the total transaction amount.
- If a party loses and funds aren’t secured by SWAPD, the losing party will have their SWAPD account placed on hold until the balance is paid.
4. Preventing Disputes
To minimize the risk of disputes and fees, both buyers and sellers should:
- Clearly define all terms before making a transaction
- Provide accurate and complete descriptions
- Keep all communications within SWAPD for verification purposes
- Follow SWAPD’s marketplace rules and guidelines
This policy ensures that bad actors bear the cost of disputes while protecting honest buyers and sellers. By enforcing this rule, SWAPD creates a safer and more transparent marketplace for all users.