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Merchants can choose to lock some amount of funds in a wallet controlled by smart contracts, this fund called Insurance fund will be used by smart contract in order to enforce payments of a lost dispute, this will give more security and peace of mind to the buyer.
If users cannot find a solution using our automatic dispute resolution system or external online dispute resolution system, they can open a case with our arbitration service, once a case is opened both parties have 7 days to submit evidence stated in the arbitration service policy. After the 7 days period a professional third party will examine the case and enforce the result.
In case our automatic dispute resolution system doesn't help in finding a solution, users can escalate their disputes to external ODR systems, we currently recommend using: https://ec.europa.eu/consumers/odr/main/
In case of disputes buyers and sellers can mutually agree on using our automatic dispute resolution system, which will help settle disputes based on propositions, they will be able to agree on: full refunds, returns, percentage refund or replacement option. In rare cases where users cannot find a suitable solution they can escalate to external online dispute resolution systems.
Returns are regulated by the merchant return policy and are made simple by our platform, you can contact directly contact the seller and open a return request, based on the situation buyer or seller will pay to the smart contract the required amount to initiate shipping and their package will be picked up in specified location and sent back. In case of disputes a user can use our tools for online dispute resolution and automatic dispute resolution in rare cases you can ask for an arbitration service which will manage the dispute.
Merchants can apply for business verification in order to receive a NFT verification badge that certifies the business ownership and informations provided by the merchants. The verified business NFT is currently released by Perpetual3 Labs but the service will soon be decentralized and accessible by any service provider that can perform KYB verifications.
On Perpetual3 the reputation of merchants is the most important part of the business, reputation is built with verified on-chain number of transactions, reviews and disputes resolved. The reputation of merchants cannot be altered or deleted by anyone and is important for buyers in order to choose a reputable and good-standing merchant. Reputation of buyers as well is considered very important for buyers as well and can be used by merchants in order to target a specific audience
On Perpetual3 marketplace all reviews are verified and submitted only if the smart contracts certifies that the review is submitted by a real buyer, reviews cannot be edited or deleted because they are stored on-chain. Merchants can submit one reply for each on-chain review.
Merchants that accept escrow payments with predefined escrow time will have funds locked until the buyer is satisfied with the order, otherwise the funds will be unlocked with a dispute resolution.