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FEE POLICY

 

Last update: May 1, 2023

All fees are listed in CAD or USD, unless otherwise stated.

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SERVICE FEE > BUYERS

As copit strike for a safe and joyous experience of luxury shopping, we need to charge a service fee of 8% plus any applicable GST/HST/VAT/Sales Tax, to ensure the authenticity and quality of all merchandises.

This service fee helps cover the effort of quality control and insurance-related needs, so you can have a peace of mind knowing that your purchase is protected with care.

To avoid confusion, this service fee will be clearly displayed in the checkout process, so you can see the total cost of your transaction.

In the event of a return or cancellation of the purchase, this fee is partially refundable, minus 3% that partly cover any refund associated cost while the rest will go toward the effort of the item’s owner – users who are consignors or sellers on copit.

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LABEL FEE > CONSIGNORS & SELLERS

Please note: The standard label fee of C$12.5 plus applicable /GST/HST/VAT/Sales Tax will depend on your item’s location and the address associated with your account. Selling from outside of Canada and United States is only available to select sellers.

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COMMISSION FEE > CONSIGNORS & SELLERS

We want to let you know that listing item(s) for interest is always free on our platform. Yet for copit to maintain an excellent service and normal business operation, we need to charge a commission fee -- kicked in only when your item(s) has been successfully purchased by a buyer. The commission fee is calculated the lowest at 8% of the listing price, plus a standard label fee. Please note that the commission fee will be deducted from the listing price you set.

If you want to cancel an order, please be aware that this may result in a higher commission fee. As a new seller, your seller rating will start at 100 and the minimum commission fee will be 8% plus the label fee.

Please also note that your seller rating can impact your commission fee. If you cancel an order, 10 points will be deducted from your seller rating. However, for each successful sale, 1 point will be added to your seller rating. And you can accumulate upward to 1000 points over time.

Here is a breakdown of the commission fees based on seller ratings:

  • 90-1000 points: 8% commission fee + label fee

  • 80-89 points: 15% commission fee + label fee

  • 70-79 points: 20% commission fee + label fee

  • 60-69 points: 30% commission fee + label fee

In addition, sellers with a rating below 60 may be subject to an account review that could result in a suspension from selling on copit. If you are a seller with a rating below 90, you can optimize your fee with future successful sales (i.e., confirming and shipping authentic items on time). 

If you're a high-volume mover who has been managing direct sales with an average of 500 points over the last 18 months through our platform, we'd be thrilled to talk about how we can further support your business.

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FOR ReLIFE CONSIGNORS

WHAT ARE THE COMMISSIONS FOR SELLING THROUGH copit ReLIFE – A VERTICALLY RECOMMERCE PROJECT FOR OUR SUSTAINABLE FUTURE?

A commission fee is only charged when an item sold through copit ReLIFE program as below:

  • 50% on any ReLIFE item(s) sold below or equal to, </= C$500;

  • 45% on any ReLIFE item(s) sold for more than, > C$500.

This fee includes any spa treatment, repair, and restoration fee, cash out fee, and shipping, for which may cost hundreds of dollars. Funds earned from selling items on copit can be deposited to your bank account through ACH direct deposit, cheque issuing, or payment sent to your PayPal account.

At copit, we’re serious about contributing to a sustainably vertical future, thus you may earn an additional 10-15% by opting in for in-store credits to fund any future purchases. Our in-store credits will never expire as long as we’re in business.

CASH-OUT FEES

When earnings are deposited through ACH direct deposit or PayPal, a 3% cash out fee will be applied. During promotional campaigns (e.g. free ACH direct deposits), copit may elect to reduce or waive the cost of the cash out fee. Consignors and Sellers may cash out if their total earnings are greater than $30.00. There is no cost associated with cashing out via cheques.

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