What is the Verification Process to become a seller on the Septivica Platform?
Sellers who would like to list products and transact on the Septivica marketplace will go through a thorough background check and on-boarding process. The seller will have to provide a license to cultivate or sell hemp. Septivica will conduct an in person site inspection of all sellers facilities. In addition sellers will be required to verify the identification of all owners and shareholders associated with any entity approved to transact in the marketplace.
What is the verification process for products listed on the Septivica marketplace?
Sellers must provide an unredacted COA with a full panel from a 3rd party testing laboratory that isn’t on the Septivica black list. Septivica will also request samples of products listed by sellers on the marketplace on a case by case basis to test with a vetted lab.
How are funds verified?
Septivica works with a 3rd party advanced bank verification system enabling the platform to instantly verify a potential buyers banking information online and in real-time. The buyer has to provide an account with funds sufficient to cover the entire purchase prior to making an offer on the marketplace. Once both parties accept an offer, Septivica provides escrow services to ensure all seller funds are available to complete the transaction.
How Much Does the platform cost?
Both the buyer and seller pay a small fee which is calculated as a percentage of the transaction cost. Percentages will vary depending on transaction volume and how frequent the buyers and sellers transact on the platform.
When does the buyer have to provide the funds to pay for a product?
Once a buyer has made an offer on a product and that offer has been accepted, the buyer will have 72 hours to wire the entire amount to the Septivica escrow agent.
What happens if the product delivered doesn’t meet buyer requirements?
The Septivica escrow agent will hold funds for up to 72 hours after delivery, until buyer verifies the product and accepts delivery. If a buyer rejects the delivery because the product doesn’t meet requirements, there are specific steps that need to take place.