GEHT MARKETPLACE SAFE PAYMENT PROCESS
The GEHT Marketplace Safe Payment Process is a contractual arrangement in which GEHT International Ltd, which provides and administrates the website www.gehtmarketplace.com, holds the purchase payment in the impound account on behalf of the transaction parties until the buyer has received, verified and approved the purchase. The GEHT Marketplace Safe Payment Process is a transparent and useful financial arrangement for both the seller and the buyer and facilitates transactions in which a large amount of money is involved and certain terms of an agreement need to be fulfilled by both parties.
Impound account for all GEHT Marketplace Safe Payment transactions is in HSBC Hong Kong, 1 Queen’s Road Central, Hong Kong.
As a buyer, the GEHT Marketplace Safe Payment Process ensures that usage of the purchase payment is explicitly for the purposed product described in the GEHT Marketplace listing. The purchase payment is held in GEHT International Ltd’s impound account until the buyer has received and verified the product. If the buyer does not receive the product or it is not as described in the listing, the buyer has the right to request a product return and/or refund under the GEHT Marketplace Safe Payment Process. See further details on our Return policy.
As a seller, the buyer’s purchase payment is deposited to GEHT International’s impound account prior to the product delivery. We verify that the full invoice amount has been received and then advise the seller to ship the product to the buyer. As the purchase amount is already deposited to GEHT International Ltd’s impound account, the shipment can be carried out without the seller risking a loss due to fraud.
Both the seller and the buyer can follow the progress of the GEHT Marketplace Safe Payment Process on his/her own GEHT Marketplace Dashboard view.
How does the GEHT Marketplace Safe Payment Process work?
- The GEHT Marketplace Safe Payment Process is initiated when a buyer submits an online purchase order or wins an auction using the GEHT Marketplace service. At this time, the buyer enters into a legally binding contract requiring buyer to pay for the product. The GEHT Marketplace will automatically send the buyer a pro forma invoice to his/her registered email address. The pro forma invoice has all the details regarding the purchase order such as specific order and payment details, the seller’s contact information, the exact ship from address and the specific order reference number.
- The buyer agrees to deposit the payment in full within 10 days of receiving the pro forma invoice from GEHT Marketplace. The seller will also receive a copy of the pro forma invoice as a reference so that he/she can set up the delivery and financial processes related to that specific order within his/her company.
- Once the payment is verified, the seller is authorised to deliver the product to a buyer. GEHT Marketplace sends an authorisation document entitled “Shipment authorisation” to the seller’s registered email address. The seller agrees to deliver the product within the Handling time of receiving the Shipment authorisation notification. The Handling time is the number of days the seller will take to ship the product after receiving the Shipment authorisation. The seller is obligated to enter the tracking number with the Service when the delivery dispatches.
- When the order is delivered, the buyer will receive an Order confirmation and Invoice of the order to his/her registered email address. The Order confirmation includes the shipment date and the shipment tracking number of his/her order. When the buyer has received the product delivery, he/she has 5 business days to verify (Return period) that the product matches the listing description.
- GEHT International Ltd releases the payment to the seller’s bank account after the Return period is over. The payment day is on the 15th of the month following the day that the return period has ended. The seller will receive the Payment Notice and Invoice to his/her registered email address and this concludes the sales transaction.