Tis Payment and Settlement Policy explains how payments are arranged between buyers and sellers using the KOTLYARS international marketplace and auction platform while KOTLYARS does not receive, process, or hold payments for listed items.
KOTLYARS currently provides a marketplace for connecting buyers and sellers but does not operate as a payment service provider, escrow agent, bank, or financial institution. Payments are made directly between the parties unless an official payment service is introduced in the future.
This Policy supplements the Terms and Conditions, Buyer Terms, Seller Terms, Auction Rules, Returns and Refunds Policy, and other applicable KOTLYARS policies. Mandatory legal requirements always prevail where applicable.
- Scope. This Policy applies to all payments relating to fixed-price sales, auctions, and other transactions arranged through the KOTLYARS platform. It governs settlement between buyers and sellers but does not replace the rules of banks, payment providers, carriers, tax authorities, or customs authorities.
- Current Payment Status. As of the Effective Date, KOTLYARS does not receive, process, hold, safeguard, or transfer payment for listed items and does not provide an integrated checkout system. KOTLYARS is not a bank, payment institution, electronic wallet provider, acquiring service, or escrow provider.
- Direct Settlement Between Parties. Buyers and sellers must agree directly on a lawful payment method, payment instructions, deadlines, and supporting evidence. Before sending funds, each party should verify the identity of the counterparty, payment account details, payment references, and the final amount due. KOTLYARS does not verify or confirm bank account information for marketplace users.
- Agreement of the Total Amount. Before payment is made, the parties should agree on the purchase price, transaction currency, shipping charges, insurance, taxes, customs duties, platform fees where applicable, and responsibility for each cost. Sellers must not introduce undisclosed mandatory charges after a binding agreement has been reached.
- Permitted Payment Methods. Buyers and sellers should use lawful, secure, traceable payment methods suitable for the value and nature of the transaction. Users must not request anonymous payments, concealed payment references, unrelated third-party recipients, gift cards, unrecorded cash payments, or any arrangement intended to evade financial controls, sanctions, taxation, or applicable law.
- Third-Party Payment Providers. Where parties choose to use banks, card issuers, transfer services, licensed escrow providers, or other payment intermediaries, those services remain subject to the provider's own contractual terms, fees, verification procedures, dispute processes, and refund rules. References or links provided by KOTLYARS do not constitute guarantees regarding third-party services unless expressly stated.
- Payment Deadline and Evidence. Payment deadlines are determined by the listing, Auction Rules, or the agreement between the parties. Buyers should retain evidence demonstrating that payment instructions were followed. Sellers should verify that cleared and irrevocable funds have been received before releasing valuable items unless another secure arrangement has been agreed.
- Currency and Conversion. The transaction currency should be confirmed before payment is initiated. Currency conversion rates, exchange fees, banking charges, and cross-border transfer costs are determined by the relevant financial institution or payment provider. KOTLYARS does not guarantee exchange rates or final transaction costs.
- Fees and Future KOTLYARS Plans. KOTLYARS currently does not collect payment for items sold through the marketplace. If future subscription services, commissions, marketplace fees, or integrated payment solutions are introduced, users will receive advance notice together with clear information regarding pricing, taxation, payment methods, cancellation rights, and applicable terms.
- Taxes, Duties and Customs Charges. Buyers and sellers remain responsible for determining and complying with all applicable VAT, sales taxes, income taxes, import duties, customs charges, reporting obligations, and other governmental requirements unless applicable law expressly assigns those responsibilities to KOTLYARS. Information provided by the platform should not be considered tax advice.
- Invoice, Receipt and Evidence. Sellers should provide any invoice, receipt, contract, or other documentation required by applicable law, accurately identifying the item, purchase price, currency, transaction date, parties, and essential contractual terms. Documents must accurately reflect the underlying transaction. False invoices, misleading payment descriptions, or documentation intended to evade taxes, customs controls, sanctions, or banking regulations are prohibited.
- Security of Payment Details. Payment information should only be exchanged through secure communication channels agreed between the parties. Sensitive information including payment card security codes, passwords, one-time authentication codes, or complete identity documents must never be published in listings or unsecured communications. Any unexpected change to payment instructions should be independently verified before funds are transferred.
- Error, Fraud and Unauthorised Payment. If payment fraud, unauthorised transactions, or payment errors are suspected, users should immediately contact their financial institution or payment provider, notify the counterparty, and inform KOTLYARS through the Contact page. KOTLYARS may preserve available information, restrict accounts where appropriate, and cooperate with lawful investigations but cannot reverse external transfers or guarantee reimbursement.
- Cancellation and Refund. Cancellation rights and refunds are governed by the applicable sales agreement, Returns and Refunds Policy, and mandatory law. Refunds should normally be issued by the seller or original payment provider using a method connected to the original transaction. KOTLYARS cannot refund funds that it has never received.
- Chargeback and Payment Dispute. Chargebacks and payment disputes involving banks, card issuers, or payment providers are determined according to the rules of those financial institutions. Such decisions do not necessarily resolve contractual disputes relating to the purchased item. Users must cooperate honestly and provide accurate supporting evidence throughout any dispute process.
- Escrow and Item Release. KOTLYARS currently does not provide escrow services and does not determine when funds should be released. Buyers and sellers may independently agree to use a licensed third-party escrow provider where lawful. Any inspection period, release conditions, transfer sequence, and allocation of risk should be clearly documented before payment.
- Sanctions and Restricted Payments. Users must not make or receive payments that violate sanctions, export controls, anti-money laundering legislation, embargoes, or other mandatory legal restrictions. Users must not attempt to circumvent banking controls through alternative recipients, misleading transaction descriptions, concealed payment purposes, or other unlawful methods.
- Privacy and Record Retention. KOTLYARS processes only payment-related information voluntarily provided for customer support, security investigations, or dispute resolution and handles such information in accordance with the Privacy Policy. Buyers and sellers should retain contracts, invoices, payment confirmations, refund evidence, and related documentation for the period required by law or reasonably necessary to protect their legal interests.
- Future Integrated Payments. Until officially announced by KOTLYARS, no user message, unofficial website, or third-party communication should be regarded as an authorised KOTLYARS payment channel. Before any integrated payment system becomes operational, KOTLYARS will publish updated policies describing the licensed payment provider, user protections, available jurisdictions, dispute procedures, safeguarding arrangements, fees, and data protection measures.
- Breaches, Contact and Changes. KOTLYARS may request additional evidence, suspend listings, restrict accounts, or take other appropriate platform measures where fraudulent, unlawful, or prohibited payment activity is suspected. Questions, concerns, and reports relating to payments may be submitted through the Contact page. This Policy may be updated periodically with appropriate notice, without affecting any mandatory legal rights or accrued claims.
Current Status. KOTLYARS does not receive, process, or hold payment for items offered through the marketplace. Buyers should never send purchase funds to any account represented as belonging to KOTLYARS unless the platform has officially announced and documented the launch of an authorised KOTLYARS payment service.
By using the KOTLYARS platform, buyers and sellers acknowledge that payment arrangements are currently made directly between the contracting parties and that each participant remains responsible for complying with applicable financial, tax, customs, and legal obligations.