TongaMarket.com Standardized Vetting Process for Sub-Merchant

1. Initial Application:

• When a sub-merchant, applies to become part of the TongaMarket.com platform, they must complete an initial application. This application includes providing essential business information and documentation.

2. Document Verification:

• TongaMarket.com will review and verify the documents provided by the sub-merchant, including but not limited to business registration, licenses, tax identification, and other relevant legal documents.

3. Supplier List Examination:

• As part of the vetting process, TongaMarket.com will examine the supplier list or source of products/services provided by the sub-merchant.
• This examination includes validating the authenticity of the suppliers and ensuring that they meet legal and ethical standards.

4. Background Check:

• TongaMarket.com may conduct background checks on the sub-merchant’s key personnel and partners to ensure they have no history of illegal activities or unethical business practices.

5. Financial Evaluation:

• TongaMarket.com may assess the financial stability of the sub-merchant to ensure they have the capacity to fulfill their obligations, particularly for expensive products and services.

6. Legal Compliance:

• Sub-merchants must demonstrate full compliance with all applicable laws and regulations, including but not limited to tax laws, import/export regulations, and consumer protection laws.

7. Escrow Agreement:

• For transactions involving large ticket items, TongaMarket.com will enter into an escrow agreement with the sub-merchant, specifying the conditions for holding funds in escrow until the delivery of goods or services is verified.

8. Ongoing Monitoring:

• Once approved, sub-merchants are subject to ongoing monitoring to ensure continued compliance with TongaMarket.com’s standards and legal requirements.

9. Customer Feedback and Dispute Resolution:

• TongaMarket.com actively seeks and values customer feedback regarding sub-merchant transactions.
• In case of disputes or concerns, TongaMarket.com provides a mechanism for customers to seek resolution, and sub-merchants are expected to cooperate in the resolution process.

10. Right to Investigate Suppliers: – TongaMarket.com retains the right to investigate and verify the authenticity of the suppliers used by sub-merchants, as necessary, to ensure they meet legal and ethical standards.

By following this standardized vetting process, TongaMarket.com aims to ensure the integrity and legality of sub-merchants on the platform. This process helps create a safe and reliable marketplace for customers and vendors alike while aligning with the requirements outlined by PayPal and other international payment gateways for multi-vendor platforms, particularly for big-ticket item transactions.