Public Disclosure of 3rd Party Seller Info on eBay
Starting June 27, 2023, online marketplaces will have to comply with the new federal law, “INFORM Consumers Act”. The new law mandates online marketplaces to make public disclosures of names and physical addresses of high volume third-party sellers. eBay will make such public disclosures on its platform to comply with the law.
In a recent episode of the ‘eBay for Business’, Brian Burke and Jim "Griff" Griffith explained that to comply with the new law, eBay will gather and authenticate key details like business name, address, tax information and so on from its third party sellers. The acronym "INFORM" means "Integrity, Notification, and Fairness in Online Retail Marketplaces."
Information requirements as per law:
The Act requires online marketplaces to collect and verify additonal information from high volume third party sellers. High volume sellers are those sellers that enter into 200 or more transactions and make $5,000 or more in gross revenue through the marketplace during a continuous 12-month period during the previous 24 months.
The Act requires online marketplaces to collect and verify additonal information from high volume third party sellers. High volume sellers are those sellers that enter into 200 or more transactions and make $5,000 or more in gross revenue through the marketplace during a continuous 12-month period during the previous 24 months.
Online marketplaces must collect the following information within 10 days of a seller being qualified as a high volume third party seller:
1. Bank account number
2. If the seller does not have a bank account, the name of the payee for payments issued by the online marketplace.
3. Business tax identification number
4. If the seller does not have a business tax identification number, then a taxpayer identification number.
5. Contact information: Individuals must provide name, work address, and phone number. Organizations need to additionally provide: (a) Copy of a valid government issued identification for an individual acting on behalf of such seller that includes the individual’s name (b) Copy of a valid government-issued record or tax document that includes the business name and physical address of the seller.
The new law requires online marketplaces like Amazon, eBay, and Walmart to verify the identity of high volume third party sellers and disclose more information about their business practices. The Act intends to combat the online sale of stolen, counterfeit, and dangerous consumer products by ensuring transparency of high volume third party sellers in online retail marketplaces.
Disclaimer:
eBay is the registered trademark of the e-commerce brand.
Amazon is the registered trademark of the e-commerce brand.
Walmart is the registered trademark of the e-commerce brand.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.
eBay is the registered trademark of the e-commerce brand.
Amazon is the registered trademark of the e-commerce brand.
Walmart is the registered trademark of the e-commerce brand.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.