Payments & Fees Policy

Effective Date: January 4, 2025

Makolaa, LLC (“Makolaa,” “we,” “our,” or “us”) provides a multi-vendor e-commerce platform that connects buyers and sellers globally. This Payments & Fees Policy outlines how payments are processed and the associated fees for using the Platform. By using Makolaa, you agree to comply with this policy.

1. Payments Overview

1.1 Payment Processing

All transactions on the Platform are securely processed through Stripe, our trusted payment partner. Stripe facilitates payments between buyers and sellers and ensures compliance with industry security standards, including encryption and fraud detection.

1.2 Accepted Payment Methods

Makolaa accepts the following payment methods via Stripe:

• Major credit and debit cards (e.g., Visa, Mastercard, American Express, Discover)
• Other methods supported by Stripe based on your location

2. Seller Payments

2.1 Receiving Payments

Sellers receive payments directly into their designated Stripe account. Payouts are subject to Stripe’s processing times and policies. Sellers are responsible for ensuring that their bank account information is accurate and up-to-date to avoid delays.

2.2 Payment Schedule

• Payouts are typically processed on a rolling basis (e.g., daily or weekly) as determined by Stripe.
• Sellers may experience a delay in receiving their first payout due to Stripe’s verification process.

2.3 Currency Conversion

For transactions in currencies other than the seller’s default currency, Stripe may charge a currency conversion fee. Sellers should review Stripe’s policies for details.

3. Fees for Sellers

3.1 Transaction Fee

Makolaa charges a transaction fee on the total sale amount (including shipping costs) for each completed order. The current transaction fee is a flat 7%. This fee is deducted automatically at the time of the sale.

3.2 Payment Processing Fee

Stripe charges a payment processing fee for each transaction. The fee is typically:

• 2.9% + $0.30 per transaction for domestic payments
• Fees for international transactions may vary based on Stripe’s policies

3.3 Promotional Fees

Sellers can opt to promote their products using Makolaa’s promotional features:

• Homepage Feature: $24.99 for 7 days, $49.99 for 16 days, or $84.97 for 30 days.
• These fees are non-refundable and must be paid upfront.

3.4 Refund and Chargeback Fees

• Refunds: When issuing a refund, the transaction fee is not refunded to the seller.
• Chargebacks: If a buyer disputes a transaction, Stripe may charge a fee for processing the chargeback. Sellers are responsible for these fees.

4. Fees for Buyers

4.1 Payment Processing Fees

Buyers are not directly charged a payment processing fee. All such fees are included in the total price of the transaction.

4.2 Taxes

Buyers are responsible for paying any applicable taxes, including sales tax, VAT, or customs duties. These fees are calculated at checkout based on the buyer’s shipping address and applicable laws.

5. Refunds and Cancellations

5.1 Refund Policy

• Refunds are processed in accordance with the seller’s return and refund policy. Buyers should contact the seller directly for any refund requests.
• If a refund is approved, the amount will be credited back to the buyer’s original payment method. Processing times may vary.

5.2 Cancellations

• Buyers may request to cancel an order before it has been shipped. Sellers must approve the cancellation request.
• If an order is canceled, the buyer will be refunded in full, minus any applicable fees.

6. Disputes and Chargebacks

6.1 Resolving Disputes

Makolaa encourages buyers and sellers to resolve disputes directly through the Platform’s messaging system. If a resolution cannot be reached, either party may escalate the issue to Makolaa’s support team for mediation.

6.2 Chargebacks

If a buyer disputes a transaction, Stripe may initiate a chargeback process. Sellers are responsible for providing evidence to contest the chargeback. Makolaa is not liable for any fees or losses incurred due to chargebacks.

7. Taxes

7.1 Seller Responsibility

Sellers are responsible for collecting and remitting applicable taxes based on their location and the location of their buyers. Makolaa provides tools to help calculate taxes but does not assume liability for incorrect tax reporting.

7.2 Buyer Responsibility

Buyers are responsible for paying any taxes, duties, or fees imposed by their local government. These charges are not included in the product price unless specified by the seller.

8. Changes to Fees and Payment Terms

Makolaa reserves the right to update fees and payment terms at any time. Any changes will be communicated in advance and will apply to future transactions. Continued use of the Platform constitutes acceptance of the updated terms.

9. Security and Fraud Prevention

Makolaa and Stripe use advanced security measures to protect user data and prevent fraudulent activity. Users are responsible for safeguarding their account credentials and reporting any suspicious activity immediately.

10. Contact Us

For questions or concerns about this Payments & Fees Policy, please contact us.

By using Makolaa, you acknowledge that you have read and understood this Payments & Fees Policy and agree to its terms.