1.1 There are no listing fees, no commission and no hidden costs. Unless otherwise
stated, Bibiz does not charge Users for the use of the Site.
1.2 Where fees are payable, the same will be subject to GST/VAT and other applicable taxes. Unless otherwise agreed, Seller is responsible for such taxes. Seller acknowledges and agrees that Bibiz may deduct its fees (if any), any applicable taxes and the subsidized shipping fee from the purchase monies paid by Buyers.
2. SETTLEMENT AMOUNT
2.1 Settlement Amount is the Buyer's Purchase Monies received by Bibiz and credited into the Seller's Account at the time specified by Bibiz as stated in the Agreement after deducting the Payment Gateway Fee of 2.8% (transaction fee), Subsidized Shipping Fee or any other fee as agreed by the seller.
3. CALCULATION OF SETTLEMENT AMOUNT
3.1 The Settlement Amount shall be calculated by deducting the Payment Gateway Fees % (transaction fee) on all Successful Transactions and the Subsidized Shipping Fee in the following manner:
3.2 Payment Gateway Fees shall be calculated based on the Transaction Value (including Shipping Fees)
3.3 Below is an example of the fees that will be deducted from the Unit price:
3.4 Please note that, the Payment Gateway Fees/TransactionFee will be paid to the bank.
| Total Original Price or Discounted Price, as the case may be (exclusive of Shipping Fees)
||Shipping Fees-For the 1st kg-(as the case may be)
||Shipping Fees Charged to the Buyer
(Shipping Fee subsidized by the Seller)
|Total Transaction Value (inclusive of Shipping Fees ? for the 1st kg)(as the case may be)
||Payment Gateway Fees
||2.8% of the Transaction Value (Inclusive Shipping Fee)
2.8/100 x RM55.50
RM1.55 (paid to Financial Provider/Payment Gateway Fees)
RM50.00-(RM2.00(subsidized shipping fee) -RM1.55 (transaction fee)
RM46.45 (total amount paid to seller)
3.5 Please also note that the Payment Gateway Fee for EGHL payment provider is 2.8% and PaypalPayment Service Fee is 4%. As such, please note that the above calculation will be different if the Buyer make payment via Paypal Service, which are meant for Overseas Buyer.
4. PAYMENT CYCLE
4.1 After a completed sale occurs (completed means, seller has shipped the item and buyer has received the same. Seller are to send the notification of shipment to us, by giving us the tracking number).Bibiz will credit the net proceeds from the sale into your account on every 2 weeks. Please give us 5 working days after the cut off date to credit theproceed of the sale into the selle's account. Keep in mind thatrefunds to buyers, payment gateway fees and subsidized shipping fee are debited against amounts credited to your Account from the sales.
4.2 Below is an example of the payment cycle:
Payout-date range:(1-14th) and (15th - 28th) day of the month)
Payment will be made within 5 working days after each payout-date range.
5. PURCHASE CONFIRMATION
5.1 A Transaction between you and a Buyer is regarded as complete only upon the occurrence of Purchase Confirmation by the buyer through the site or any other action taken by the company to confirm the receipt of purchase.
6. PAID ADVERTISING
6.1 Meceilo will be launching advertising services (hereinafter referred to as "Paid Advertising") on its Paid Advertising Site on an ongoing basis. Sellers may purchase the Paid Advertising by forthnightly basis (2 weeks) or one month basis. We will update the fee for the Advertising Site in the Seller's Page/Centre.