SWAPD Victim Fund

What is the SWAPD Victim Fund?

From time to time, even on the most secure websites, bad things may happen to buyers/sellers and SWAPD is no exception. While we do our best to keep fraudulent transactions to a minimum, the sheer nature of this business prevents us from securing things for our members to the fullest. The world of social media has a dark side, where transferred properties can be pulled back post-transaction, and in many cases, there is no defense against that. To combat the effects of such deceptive practices, we’ve set up a victim fund that aims to reduce the financial burden for buyer/seller monetary loss.

How is the Victim Fund actually funded?

  1. The first source of the funds will come from the sales of our Premium Memberships. 100% of the proceeds (post-tax) will be added to our collective pool of funds. You can monitor the current balance in the header of our Victim Fund category. We will also have a dedicated topic which we will update frequently with the current balance.
  2. From user donations. Directly donating is not possible at the moment, members who wish to donate may do so via active checkout tickets when the transaction is being finalized. All that’s needed is a notice to the admin running the ticket that you want to donate.

What are the benefits of donating?

Users who donate will receive a badge (seen to everyone) that they have personally contributed to the fund. These badges can be added multiple times to a single member. And while having the badge isn’t necessary to apply for the victim fund, users who regularly donate will naturally have preferential treatment when it comes to accessing these funds. The biggest benefit is the ease of mind for everyone who deals on SWAPD. This program is currently in BETA mode, but if successful, it should lessen the problems for victimized members.

How much can I donate? Is there a minimum?

There is a 10 USD minimum per donation. But we welcome any amounts over that, as well as the entire community. Remember, donations aren’t mandatory. No one on SWAPD will ever judge you for not donating, this is purely an optional thing to do. Not donating will not disqualify you from having the ability to recover your funds if you find yourself in trouble.

Are the donations tax-deductible?

We can factor in the amount in your final invoice (as a buyer). However, sellers will only get a transaction summary which isn’t a taxable document.

How to file for compensation?

Each case will be individually investigated. All you need to do is contact SWAPD staff by messaging @Administrators.

SWAPD Victim Fund rules!

  1. Access to the victim fund is not a member’s right, but a privilege. This program isn’t a part of our Terms of Service or Transaction Contract. It’s a social experiment aimed to help defrauded members.
  2. Donations are non-refundable.
  3. Transactions older than 60-days (from the date the ticket closed) will no longer qualify for compensation.
  4. Compensation amounts will vary on the following conditions:
    a. Transaction amount
    b. The outcome of the investigation
    c. Buyer/seller reputation
    d. Amount of collected donation badges by the person applying for compensation (not required, but it will help)

Disclaimer:

SWAPD staff reserves the right to have a final say and full control of the victim fund. Payouts will depend on funds availability, the credibility of the person who applies, and the final outcome of investigations. Each case will have to be proven beyond a reasonable doubt that the applier was defrauded. To prevent abuse, SWAPD staff may refuse applications without any notice or reason given. Denied applications cannot be disputed.

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