We will inform you of each Payment Transaction, or of other information pertaining to The Payment Platform, using our standard communication procedures, including email or other messaging services associated with your account.
Wedspire reserves the right to decline Payment Transactions that we have reason to believe are high risk, fraudulent, or in violation of this Agreement or applicable law. Wedspire does not bear the risk of credit card fraud (i.e. fraudulent purchase arising from the theft and unauthorized use of a third party's credit card information) occurring in connection with Payment Transactions.
Sellers must provide personal information as requested during the process of registering to use the Payment Platform, must provide Wedspire with true and accurate information, and must maintain and update that information as applicable. You agree that you will not impersonate any person or use a name that you are not legally authorized to use. You authorizes Wedspire, and our authorized agents, to verify your information (including any updated information) by accessing public records and to obtain credit reports about you in order to approve your use of the Payment Platform. You also authorize us to verify your information from time to time while you are using the Payment Platform.
If we reasonably conclude based on information available to us that your actions or performance in connection with the Payment Platform may result in buyer disputes, chargebacks, or other claims, then we may, in our sole discretion, put into effect a hold, deposit delay, or reserve associated with amounts to be deposited into your Bank Checking Account. A hold may be put on funds associated with a particular Payment Transaction in the event of disputes or investigations associated with the order for the shorter of: (a) 90 days after the estimated delivery date; or (b) completion of any investigation(s) regarding any of your actions or performance in connection with the Payment Transaction. Deposit delays are defined as the number of days between a sale and the day the net amount from the sale becomes available for deposit, provided the payment has been completed as described above. We will not be liable to you if we act in good faith in accordance with the provisions of this paragraph.
We may obtain reimbursement of any amounts owed by you to Wedspire by deducting from future payments owed to you, charging your credit card on file, charging your bill, or seeking such reimbursement from you by any other lawful means, including collections. You authorize us to use any or all of the foregoing methods to seek reimbursement, including the charging of your credit card or debiting from your Bank Checking Account.
If you are a resident of the United States, Internal Revenue Service regulations require that U.S. third-party settlement organizations and payment processors, including Wedspire, file Form 1099-K to report unadjusted annual gross sales information for sellers that meet both of the following thresholds in a calendar year (reporting):
1. more than $20,000 in gross sales, and
2. more than 200 transactions.
As a result of these regulations, if you approach 150 (one hundred and fifty) transactions in a calendar year, regardless of sales volume and aggregated across your Shops, you will be required by Wedspire to provide taxpayer-identification information and will be notified via email and through other communication channels available on the Site.