Store/Vendors may be charged for using some of WrenchersParlor’s services. This Fees & Payments Policy explains your fees and taxes and how to pay them.
This policy is a part of our Terms and Conditions. By opening an WrenchersParlor store, you’re agreeing to this policy and our Terms and Conditions.
Types of Fees
Fee Avoidance
Paying Your WrenchersParlor Fees
Taxes
Types of Fees
Sellers may be required to pay the following types of fees, please note that all fees are listed exclusive of any VAT that may apply. See the Taxes section below for further details:
It’s important to note that membership, nor commission fees are non-refundable.
Transaction Fees
Transaction fees will apply to the total payment price, this is the fee charged by the following payment processors PayPal, and Stripe.
They charge a payment processing – per transaction fee.
These transaction fees will be added to your account:
- 2.9% + $0.30 cents per transaction.
Store Membership Fees
WrenchersParlor sellers in good standing may opt-in to WrenchersParlor membership package offering an expanded set of tools for growing brands.
Auto-renew
Store Membership fees will be added to your payment account on the same day every month in your domestic currency.
Currency Conversion
To avoid incurring foreign exchange charges, WrenchersParlor recommends you list your items in the same currency as your payment account currency. Buyers will see the items in the currency of their choosing. If you decide to list in a currency other than that of your bank account, you will be charged 2.5% over the current market rate to send funds to your payment account. Currency conversion is handled automatically by our payment processing service and further described in our WrenchersParlor Payment Policy.
Fee Avoidance
Any action by a seller to avoid paying a fee is considered fee avoidance and is strictly prohibited by WrenchersParlor. This includes, for example, encouraging buyers to purchase an item in your WrenchersParlor shop through another venue. A transaction initiated on WrenchersParlor may not be completed off of WrenchersParlor. The price stated in each listing description must be an accurate representation of the sale. Sellers may not charge excessive shipping fees. Sellers may not alter the item’s price after a sale for the purpose of avoiding WrenchersParlor transaction fees, or use another user’s account without permission.
Paying your WrenchersParlor Fees
WrenchersParlor will automatically deduct all fees owed from your payment account. Provided you have sufficient funds in your payment account no further payment action is required. If your payment account does not contain sufficient funds you are responsible for paying any fees owed in full within 15 days of the date of your monthly statement, or the account will be considered past due. If you make a sale while you have an outstanding balance the net sale amount will be applied to your outstanding balance.
Taxes
Aside from the limited circumstances set out below, you are responsible for collecting and paying any taxes associated with using and making sales through WrenchersParlor’s services. WrenchersParlor will issue 1099-K forms to certain sellers in the United States to comply with IRS and state requirements – see Payment Policy – Reporting Obligations.
Listing your items on WrenchersParlor
If you sell physical goods on WrenchersParlor and reside in the US or Canada, you may utilize our sales tax tool to calculate the tax owed on each sale.
If you sell on WrenchersParlor and reside outside of the US or Canada, you need to include applicable taxes in your listing prices.
Please remember that WrenchersParlor’s fees do not include any withholding taxes that might apply in your home country. You are required to pay WrenchersParlor the full amount of our fees and may not deduct any applicable withholding taxes from that amount.
Please also note that some countries require WrenchersParlor to apply VAT on the fees that you may be charged in accordance with this policy, and that the fees listed in this policy are exclusive of VAT.
VAT on Seller Fees
Depending on your business status and location, WrenchersParlor may be required to apply VAT on seller fees charged each month and remit it to the relevant tax authority. VAT is collected on all WrenchersParlor fees for sellers located in countries where VAT should be applied.