ClapNow - Pricing Policy

At ClapNow, we believe in transparent and fair pricing for all our users. This Pricing Policy outlines our fee structure, commission rates, and payment terms for both buyers and sellers using our live auction platform.

1. Platform Fee Structure

1.1 Seller Commission

ClapNow charges a commission on successful sales:

• Standard Commission: 2% of the final sale price (Gross Merchandise Value - GMV)
• Premium Seller Rate: 1.5% for verified premium sellers (after 50+ successful sales)
• High-Value Items: Special rates for items valued above ₹1,00,000 (contact support)

1.2 Buyer Fees

Buyers are charged the following fees:

• No Platform Fees: Buyers pay only the auction price plus applicable taxes
• Shipping Costs: Vary by seller and location (clearly displayed during auction)
• Payment Processing: No additional fees for standard payment methods

2. Commission Calculation

2.1 Commission Basis

Commission is calculated on the final hammer price (winning bid amount) and is deducted before the seller receives their payment. The commission covers platform maintenance, payment processing, customer support, and security measures.

2.2 Example Calculations

3. Payment Terms

3.1 Seller Payment Schedule

Sellers receive payment after successful delivery confirmation:

• Standard Processing: 3-5 business days after delivery confirmation
• Express Processing: 1-2 business days (available for premium sellers)
• Payment Method: Bank transfer to registered account
• Minimum Payout: ₹500 (accumulated earnings)

3.2 Buyer Payment

Buyers must complete payment within 24 hours of winning an auction. Payment methods include UPI, credit/debit cards, net banking, and digital wallets.

4. Fee Exemptions and Discounts

4.1 Volume Discounts

• High-Volume Sellers: Reduced rates for sellers with ₹10L+ monthly GMV
• Seasonal Promotions: Special commission rates during promotional periods
• Charity Auctions: Reduced or waived fees for verified charity events

4.2 Special Categories

• Art & Collectibles: Special rates for high-value art pieces
• Limited Edition Items: Negotiable rates for exclusive releases
• Corporate Accounts: Custom pricing for business sellers

5. Additional Services

5.1 Premium Features

Optional premium services available for additional fees:

• Featured Listings: ₹500 per event for priority placement
• Professional Photography: ₹1,000 per product (includes 5 high-quality images)
• Authentication Services: ₹2,000 per item for luxury goods
• Express Support: ₹1,500/month for dedicated customer support

5.2 Marketing Services

• Social Media Promotion: ₹3,000 per campaign
• Email Marketing: ₹2,000 per targeted campaign
• Influencer Partnerships: Custom pricing based on reach

6. Refund and Cancellation Fees

6.1 Cancellation Charges

Fees for cancelled transactions:

• Seller Cancellation: 1% of reserve price (minimum ₹100)
• Buyer Cancellation: 2% of winning bid (minimum ₹200)
• Platform Cancellation: No fees charged to either party

6.2 Refund Processing

Refund processing fees are ₹50 per transaction. Full refunds include the original payment amount minus processing fees.

7. Tax Implications

7.1 GST and Taxes

Tax considerations for users:

• Platform Commission: 18% GST applicable on commission fees
• Seller Responsibility: Sellers must comply with applicable tax laws
• Buyer Taxes: Applicable taxes added to final purchase price
• Tax Invoices: Provided for all transactions above ₹2,000

8. Fee Changes and Notifications

8.1 Policy Updates

ClapNow reserves the right to modify pricing and fee structures. Users will be notified of any changes at least 30 days in advance via email and platform notifications.

8.2 Grandfathering

Existing sellers may be grandfathered into current rates for a specified period when fee changes are implemented.

9. Dispute Resolution

9.1 Fee Disputes

In case of fee disputes, ClapNow will review the transaction and provide a detailed breakdown of charges. Disputes must be raised within 7 days of the transaction.

9.2 Resolution Process

• Submit dispute through support portal
• Review period: 3-5 business days
• Resolution communicated via email
• Appeal process available for complex cases

10. Contact Information