SECTION 3.4.1: SELLER ELIGIBILITY, CORPORATE KYC & ONBOARDING

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Section 3.4.1: Seller Eligibility, Corporate KYC & Onboarding
Merchant qualification rules, UBO transparency, corporate identity vetting, and KYC criteria.
Category: Seller Policy Clause: CLAUSE-3.4.1 Ref Code: SELL-341-ELIGIBILITY-KYC Tier 3 (High Severity)
Compliance Safe & Safe Harbor Shielded

1. Section Scope & Legal Intent

Mandates comprehensive corporate vetting, Ultimate Beneficial Owner (UBO) disclosures, tax registration numbers, and banking verification prior to granting merchant listing privileges.

2. Mandatory Standards & Operating Requirements

All participants subject to this policy must strictly adhere to the following mandatory standards:

  • All merchants must complete Tier-2 Enhanced Due Diligence (EDD) including government ID, corporate registry excerpt, and proof of physical warehouse address.
  • Sellers must update corporate or ownership changes within 14 calendar days of legal restructuring.
  • Only verified business entities or approved sole proprietors with valid tax identification are permitted to list commercial inventory.

3. Explicit Prohibitions & Violation Triggers

The following actions constitute direct non-compliance and trigger automatic intervention by the Warning and Violation System:

  1. Operating a storefront under a nominee, proxy, or fictitious corporate identity.
  2. Using stolen, shared, or forged merchant business licensing documents.
  3. Listing inventory on behalf of suspended or blacklisted third-party sellers.

4. Warning & Violation System Enforcement Matrix

Each violation under this section is mapped directly to the automated warning and sanction ladder:

Violation Code Offense Description Detection Method Severity Tier Cure Window Mandatory Sanction
VIOL-341-01 Submission of fraudulent, forged, or altered corporate registry credentials. Enterprise KYC / AML Verification Suite Tier 4 (Critical) Immediate Permanent seller ban, freezing of merchant wallet, statutory law enforcement filing.
VIOL-341-02 Operating storefront as undeclared proxy for blacklisted entity. Graph Linkage & Banking Anomaly Analyzer Tier 4 (Critical) Immediate Immediate termination of all linked merchant storefronts and reserve forfeiture.
VIOL-341-03 Failure to submit updated corporate beneficial ownership details upon annual review. Annual Merchant Compliance Gatekeeper Tier 2 (Moderate) 14 Days Listing visibility degraded; payout withdrawals temporarily paused.

5. Platform Safe Harbor & Limitation of Liability

Platform Intermediary Status: ePaisay provides the technological marketplace venue connecting independent counterparties. ePaisay is not a vendor, retailer, agent, or guarantor of any product, service, or transaction governed herein.

Total Disclaimer of Warranties: The platform disclaims all warranties of merchantability, fitness for particular purpose, and non-infringement to the fullest extent permissible by applicable law.

Limitation of Damages: In no event shall ePaisay, its officers, directors, or employees be liable for incidental, indirect, punitive, or consequential damages. Aggregate liability is strictly capped at the lesser of $100 USD or platform fees paid in the preceding three months.

Participant Indemnification: The participant agrees to defend, indemnify, and hold harmless ePaisay against any third-party claims, regulatory penalties, legal fees, or damages arising out of violations of this Section.

Last updated: Oct 01, 2025