Seller Agreement

1. Overview

This Seller Agreement supplements the OrbitVerse Terms of Service and applies specifically to users who list products for sale on OrbitMart.

2. Seller Eligibility

• Must be at least 18 years old
• Must complete at least Basic verification (phone number)
• Standard verification (NIN or BVN) required for monthly sales above NGN 500,000
• Business verification (CAC) required for monthly sales above NGN 2,000,000 or for registered business accounts

3. Fee Structure

• Platform fee: 1.5% of each transaction plus 7.5% VAT on the fee (1.6125% effective), paid by the buyer
• Escrow fee: 1.0% of each transaction plus 7.5% VAT on the fee (1.075% effective), paid by the buyer
• Cross-border FX spread: 0.8% (VAT-exempt as a financial service), applies only to cross-currency transactions
• Sellers receive 100% of their listed price; fees are added to the buyer's total at checkout, not deducted from the seller's payout
• See the Fee Schedule page for the full breakdown. Sellers may request an annual fee statement for tax filing purposes.

4. Listing Standards

• Product titles and descriptions must be accurate
• Images must represent the actual item being sold
• Pricing must be clear and in the correct currency
• Stock levels must be kept up to date
• Prohibited items (see Prohibited Items Policy) may never be listed

5. Order Fulfilment Obligations

• Orders must be shipped within 3 business days of escrow confirmation
• Valid tracking information must be provided where applicable
• Sellers must respond to buyer messages within 24 hours
• Repeated failure to fulfil orders results in TrustScore penalties and potential suspension

6. Payout Schedule

• Funds are credited to the seller's OrbitWallet upon escrow release (buyer confirmation or automatic 7-day release)
• Withdrawals to bank accounts are processed within 1-3 business days
• Minimum withdrawal amount: NGN 1,000

7. OrbitMarket Hub Sellers

Sellers registered under a verified physical market (OrbitMarket Hub) must provide accurate shop information (shop number, block, section) and may be subject to periodic verification by OrbitVerse field agents.

8. TrustScore Impact

Seller TrustScore is directly affected by:

• Successful order completion (positive)
• Verified buyer reviews (positive or negative based on rating)
• Dispute outcomes (negative if seller is found at fault)
• Late delivery (negative)
• Fast, reliable delivery (positive)

9. Account Suspension

OrbitVerse reserves the right to suspend seller accounts for:

• Repeated prohibited item listings
• Fraudulent activity
• Consistent failure to fulfil orders
• Attempting to circumvent escrow by conducting transactions off-platform

10. Termination

Sellers may close their account at any time, subject to completion of all pending orders and disputes. OrbitVerse may terminate seller accounts for Terms of Service or Seller Agreement violations with or without notice, depending on severity.