1. Commissions

1.1 There are no listing fees, no commission fees and no hidden costs to sell on bibiz.

1.2 Unless otherwise stated, bibiz does not charge Users for the use of the Site.

2. Settlement

2.1 Transaction fee is calculated as 3.18%(after SST) of the final order amount paid by the buyer (inclusive of shipping fee), rounded up to 2 decimal places. Bibiz will deduct the transaction fee automatically from the sellers' payout when an order is completed.

3. Calculation of settlement amount

4. How will be charged?

Transaction Fees Apply= 3.24%

Buyer Paid Amount = Order Price - Voucher/Discount + Shipping Fees

Transaction Fees Apply x Buyer Paid Amount

Example:

Total order = RM100.00

Voucher/discount = RM5.00 (if applicable)

Shipping Fees = RM10.00

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(RM100.00 - RM5.00) + RM10.00 = RM105.00

Transaction fees = (3.24% X RM105.00) = RM3.40

Order Income = RM105.00 - RM3.40 = RM101.60

Effective: 01 March 2024