Marketplace Seller Onboarding Policy and Procedures

1. Introduction

This policy outlines the procedures for onboarding sellers to our multi-vendor marketplace, which operates on the WooCommerce platform integrated with our ERP system, Unifya. These procedures ensure compliance with all relevant regulations and protect the integrity of our payment processors’ brands by mitigating risks associated with fraud and illegal activities.

2. Objectives

• To establish a clear and consistent process for onboarding new sellers.
• To verify the identity and legitimacy of sellers before they can list products on the marketplace.
• To ensure compliance with payment processor requirements and protect their brand integrity.
• To maintain a safe and secure marketplace for all users.

3. Seller Onboarding Procedures

3.1. Application Submission

• Sellers must complete an online application form through our marketplace website.
• Required information includes:
• Business name and registration number
• Contact details (address, phone number, email)
• Description of the business and product categories
• Bank account details for payments

3.2. Documentation Requirements

• Sellers must upload the following documents during the application process:
• Government-issued identification (e.g., passport, driver’s license) of the business owner(s)
• Business registration certificate
• Tax identification number (TIN) or equivalent
• Bank statement or proof of bank account ownership
• Any relevant licenses or permits required for the sale of specific products

3.3. Identity and Business Verification

• Our compliance team will review the submitted information and documents.
• Identity verification will include checking the government-issued ID against the business registration information.
• Business verification will involve validating the business registration certificate and any relevant licenses.
• Additional verification steps may include:
• Cross-referencing with third-party databases.
• Conducting online searches to verify the legitimacy of the business.

3.4. Risk Assessment

• Each seller application will be assessed for risk based on several factors:
• Geographic location
• Product categories
• Historical business performance (if applicable)
• Sellers deemed high-risk will undergo enhanced due diligence (EDD), which may include:
• Additional background checks
• More stringent verification of business documentation

3.5. Approval and Onboarding

• Once the verification and risk assessment are completed, the compliance team will approve or reject the application.
• Approved sellers will receive an onboarding package that includes:
• A welcome email with login credentials for the seller portal.
• Detailed instructions on how to set up their online store, including product listing guidelines, pricing, and inventory management.
• Access to training materials and resources.
• Sellers must agree to the marketplace terms and conditions, privacy policy, and compliance requirements before they can start listing products.

4. Ongoing Compliance and Monitoring

4.1. Transaction Monitoring

• All seller transactions will be monitored for unusual or suspicious activity.
• Automated systems will flag transactions that exceed predefined thresholds or exhibit irregular patterns.
• Suspicious activities will be investigated by the compliance team and reported to relevant authorities if necessary.

4.2. Periodic Reviews

• Seller accounts will be subject to periodic reviews to ensure ongoing compliance with marketplace policies.
• Reviews will include re-verification of business information and documentation.
• Sellers may be required to provide updated documents or additional information during these reviews.

4.3. Training and Support

• We provide ongoing training and support to sellers to help them comply with marketplace policies and regulatory requirements.
• Sellers can access a dedicated support team for assistance with compliance-related queries and issues.

4.4. Penalties for Non-Compliance

• Sellers found to be in violation of marketplace policies or engaging in fraudulent activities will face penalties, including:
• Temporary suspension of their account
• Permanent termination of their account
• Reporting to relevant authorities and payment processors

5. Data Protection and Privacy

• We are committed to protecting the privacy and confidentiality of seller information.
• All data collected during the onboarding process is stored securely and accessed only by authorized personnel.
• We comply with all relevant data protection regulations, including GDPR and CCPA.

6. Review and Updates

• This policy will be reviewed and updated annually or as required to reflect changes in regulations and industry best practices.
• Sellers will be notified of any significant changes to the onboarding procedures.

7. Conclusion

By following these onboarding procedures, we aim to create a trustworthy and compliant multi-vendor marketplace that upholds the highest standards of integrity, thereby protecting our payment processors’ brand and ensuring a safe environment for all users.

For any queries or further information regarding this policy, please contact our compliance team at support@unitedcity.org.