Commission Schedule | VIP Parts - B2B Marketplace for Industrial, HVAC, Elevator Parts

This commission schedule outlines the applicable charges for buyers and sellers on the VIP Parts B2B marketplace. All fees and sales commissions are subject to change, and members will be notified in advance of any updates. By using our services, you agree to the terms, sales commissions and fees described below.

1. Sales Commissions (For Sellers)

1.1 Marketplace Commission

Fee: 10% of the total transaction value.

A 10% commission fee is applied to each sale made on the VIP Parts marketplace. This fee is deducted before the payout to the seller.

Example:

Transaction Amount: $1,000
Marketplace Commission (10%): $100
Amount to Seller: $900 (before other fees)

1.2 Credit and Debit Card Processing Fee

Fee: 2.9% + $0.30 per transaction.

This fee is applied for transactions processed via credit or debit card. It is calculated on the total transaction amount and deducted before disbursement.

Example:

Transaction Amount: $500
Marketplace Commission (10%): $50
Card Processing Fee (2.9% + $0.30): $14.80
Amount to Seller: $435.20

1.3 ACH Payment Processing Fee

Fee: 0.8% per transaction, capped at $5.

ACH bank transfers incur a lower fee, capped at $5 per transaction. This fee is deducted before payout.

Example:

Transaction Amount: $2,000
Marketplace Commission (10%): $200
ACH Processing Fee (0.8% capped at $5): $5
Amount to Seller: $1,795

2. Payout Fees (For Sellers)

2.1 Standard Payout Fee

Fee: $0.25 per payout transaction.

A standard fee of $0.25 is charged for each disbursement of funds to the seller's bank account.

2.2 Instant Payout Fee

Fee: 1% of the payout amount, with a minimum fee of $0.50.

Sellers opting for instant payouts incur this fee, calculated based on the payout amount for immediate fund transfers.

Example:

Payout Amount: $1,000
Instant Payout Fee (1%): $10
Amount Received: $990

3. Late Payment Fees (For Buyers)

3.1 Late Payment Penalty

Fee: 1.5% of the outstanding balance per month (18% annually).

Late payments are subject to a 1.5% monthly fee. This accrues until the outstanding balance is paid in full.

Example:

Outstanding Balance: $1,000
Monthly Late Fee (1.5%): $15
Total Due After One Month: $1,015

4. Listing Fees (For Sellers)

4.1 Product Listing Fee

Fee: Free.

Listing products on the VIP Parts marketplace is free. Sellers can list an unlimited number of products without additional charges.

5. Refund and Dispute Fees

5.1 Refund Processing Fee

Fee: $15 per refund transaction.

This fee is charged when a refund is issued to a buyer. It covers the administrative costs of processing refunds.

6. Chargeback Fees

6.1 Chargeback Fee

Fee: $15 per chargeback occurrence.

A $15 fee is applied when a chargeback is initiated. This fee may be refunded if the dispute is resolved in favor of the seller.

Example:

Chargeback Amount: $300
Chargeback Fee: $15
Total Deducted: $315

7. Currency Conversion Fees

7.1 Currency Conversion Fee

Fee: 1% of the transaction amount.

Transactions requiring currency conversion incur a 1% fee on the total transaction value.

Example:

Transaction Amount: €1,000
Currency Conversion Fee (1%): €10
Amount Converted to USD: Amount in USD minus fee

8. Membership Fees

8.1 Membership Fee

Fee: Free.

VIP Parts does not charge any membership fees for accessing the marketplace. Sellers and buyers are only subject to the sales commissions listed.

9. Custom Enhancements and Development Fees

9.1 Custom Feature Development

Fee: Quoted per project.

Custom platform enhancements based on specific customer needs may incur a fee. This is quoted on a case-by-case basis.

10. Custom Integration Fees

10.1 Custom API and Code Modifications

Fee: Quoted per project.

Customers requiring specific API integrations or custom code modifications are subject to fees, depending on project scope.

11. Fee Updates and Notifications

VIP Parts reserves the right to modify this commission schedule. Changes will be communicated with at least 30 days' notice.