Payment Terms

1. Transaction Initiation: Buyer agrees to purchase a vehicle and initiates payment through the platform.
2. Payment Collection: Buyer pays the full transaction amount to Honda Marketplace using their chosen payment method.
3. Payment Confirmation: Platform confirms payment receipt and notifies both Buyer and Seller.
4. Vehicle Transfer: Buyer and Seller arrange for vehicle inspection, documentation, and transfer (off-platform).
5. Payment Release: After confirmation (see Section 6), funds are released to the Seller minus platform fees.

Honda Marketplace acts as a payment facilitator and service provider. When a Buyer makes a payment:

• The payment is made to Honda Marketplace, not directly to the Seller
• We hold the funds temporarily while the transaction is being completed
• We may deduct applicable platform fees before releasing funds to the Seller
• We release funds to the Seller according to our release policy (Section 6)

Buyers are STRONGLY ADVISED to:

• Physically inspect the vehicle before confirming the transaction
• Verify all documentation with relevant authorities (LTO, etc.)
• Request a professional mechanical inspection
• Verify ownership and ensure no outstanding liens or obligations
• Only confirm payment release after satisfactory vehicle transfer
• Consider purchasing from reputable sellers with positive reviews

DO NOT confirm payment release until you have physically received and verified the vehicle. Once released, funds generally cannot be recovered.

Sellers must:

• Accurately represent vehicles in all listings
• Provide complete and genuine documentation
• Facilitate reasonable inspection opportunities for Buyers
• Transfer ownership legally and completely
• Not pressure Buyers to confirm payment release prematurely

The Buyer may confirm successful vehicle receipt and documentation transfer through the platform. Upon confirmation:

• Funds are released to the Seller (minus platform fees)
• Release typically occurs within 1-3 business days
• Buyer confirmation is generally final and irreversible

Buyer Protection Tip: Only confirm after you have physically received the vehicle, verified all documentation, and are satisfied with the condition and transfer process.

If the Buyer does not confirm within a specified period (typically 14-30 days, as configured by administrators), funds may be automatically released to the Seller, provided:

• No dispute has been filed
• No fraud indicators have been detected
• Both parties have communicated appropriately through the platform

Automatic release timelines may vary and are subject to platform discretion and configuration.

Honda Marketplace administrators may manually release or hold funds in cases of:

• Disputes between Buyer and Seller
• Suspected fraud or policy violations
• Incomplete documentation or verification issues
• Legal requests or regulatory requirements
• Technical issues with automatic processes

Administrative decisions are made at our sole discretion and are generally final, though we will make reasonable efforts to resolve disputes fairly.

Payment release may be delayed or held for:

• Active disputes or investigations
• Suspected fraudulent activity
• Incomplete Seller payout profiles
• Verification or compliance checks
• Payment gateway processing times
• Banking or holiday delays

Platform fees are typically deducted from the transaction amount before releasing funds to Sellers. Fee amounts may be:

• A percentage of the transaction value (e.g., 5-10%)
• A flat fee per transaction
• A combination of percentage and flat fees
• Variable based on subscription tier or transaction value

Fees are disclosed during the transaction process and are typically visible to both Buyers and Sellers before payment is initiated.

Third-party payment processors (Stripe, PayMongo, etc.) may charge additional fees. These fees may be:

• Included in our platform fee
• Passed through to Buyers or Sellers as separate line items
• Variable based on payment method (credit cards typically have higher fees than bank transfers)

Sellers may incur fees when receiving payouts, depending on the chosen payout method:

• GCash transfers may have nominal fees
• Bank transfers may incur processing fees
• International payouts (if supported) may have higher fees and currency conversion charges

We reserve the right to modify our fee structure at any time. Changes will:

• Be announced through platform notifications or email
• Not affect transactions already in progress
• Apply to new transactions initiated after the change date

Supported payout methods may include:

• GCash: Direct transfer to registered GCash mobile number
• Bank Transfer: Direct deposit to Philippine bank accounts
• Other methods: As configured by administrators (e.g., PayMaya, bank checks)

Sellers are responsible for ensuring their payout information is accurate and up-to-date. Honda Marketplace is not liable for payouts sent to incorrect or outdated information.

Payout processing times vary by method and circumstances:

• GCash: Typically 1-2 business days after release approval
• Bank Transfer: Typically 2-5 business days after release approval
• Delays: May occur due to verification, compliance checks, or banking holidays

Timing estimates are not guarantees. Actual payout times may vary based on payment gateway processing, banking infrastructure, and verification requirements.

Before processing payouts, we may require Sellers to:

• Verify identity through government-issued ID
• Provide proof of bank account or GCash ownership
• Complete KYC (Know Your Customer) processes
• Submit additional documentation for large transactions

Verification helps prevent fraud and comply with anti-money laundering regulations.

Payout limits may apply based on:

• Seller verification status
• Account history and reputation
• Payment method limitations (e.g., GCash daily limits)
• Regulatory requirements

Refunds may be considered in cases of:

• Seller failure to deliver the vehicle or documentation
• Significant misrepresentation or fraud by the Seller
• Mutual agreement between Buyer and Seller to cancel the transaction
• Payment processing errors or duplicate charges

Important: Refunds are generally NOT available after the Buyer has confirmed payment release or after funds have been transferred to the Seller. Buyers must conduct due diligence before confirming.

If a dispute arises, users should:

1. Attempt to resolve the issue directly through platform messaging
2. Contact Honda Marketplace support with detailed information and evidence
3. Provide documentation (messages, photos, inspection reports, etc.)
4. Await administrative review and decision

Honda Marketplace will review disputes and make decisions at our sole discretion. Decisions consider available evidence, platform policies, and applicable laws, but are not binding arbitration or legal judgments.

If a refund is approved:

• Refunds are processed to the original payment method
• Processing may take 5-10 business days depending on the payment provider
• Refunded amounts may exclude non-refundable fees (if applicable)
• Partial refunds may be issued in appropriate cases

Chargebacks can have serious consequences:

• We will investigate all chargebacks and provide evidence to payment processors
• If a chargeback is successful, the transaction amount is reversed
• If funds have already been paid out to a Seller, we may pursue recovery from the Seller
• Excessive chargebacks may result in account suspension or termination
• Users who file fraudulent chargebacks may be permanently banned

To avoid chargebacks:

• Buyers: Use our dispute resolution process instead of filing chargebacks
• Buyers: Only confirm payment release after verifying the vehicle
• Sellers: Provide accurate listings and complete documentation
• Sellers: Communicate clearly and respond promptly to Buyer inquiries
• Both: Keep records of all communications and transaction details

• Sellers may be required to verify identity before receiving payouts
• Large transactions may trigger additional verification requirements
• We may request government-issued IDs, proof of address, or other documents
• Verification protects against identity theft and fraud

• We monitor transactions for suspicious activity
• Unusual patterns may trigger holds or additional verification
• We cooperate with payment processors' fraud prevention systems
• Accounts suspected of fraud may be suspended pending investigation

Honda Marketplace complies with applicable anti-money laundering regulations, which may require:

• Monitoring and reporting of large or suspicious transactions
• Customer due diligence and enhanced verification
• Record-keeping of transaction details
• Cooperation with law enforcement and regulatory agencies

• Sellers are responsible for reporting income from vehicle sales to tax authorities
• Sellers must pay applicable income taxes, capital gains taxes, or other taxes
• Platform fees may or may not be tax-deductible; consult a tax professional
• Sellers should maintain records of all transactions for tax reporting

• Buyers are responsible for applicable registration fees, transfer taxes, and excise taxes
• Vehicle transfers typically require payment of documentary stamp tax and LTO fees
• Buyers should verify all tax obligations with LTO or tax professionals

Honda Marketplace may:

• Report transaction information to tax authorities as required by law
• Provide annual transaction summaries to users (if required by regulations)
• Issue tax documents (1099-K equivalent, if applicable under Philippine law)

We do not provide tax advice. Users should consult qualified tax professionals regarding their specific obligations.