PropSwap – Terms/Conditions for Users (Sellers)
PropSwap provides an online platform and related services (“Services”) that connects sellers and buyers seeking to respectively sell and buy sports betting tickets (“Tickets”) and we may make such Services available via our website, our mobile applications and/or associated services (collectively, the “Site”). By accessing or using our Site, You agree to be bound by this PropSwap Marketplace User Agreement (“User Agreement”). User Privacy Notice, Mobile Privacy Notice, Seller Policies, Cookies Policy, and all other policies applicable to your use of the Site (collectively, the “Additional Policies”) are incorporated by reference into this User Agreement. We may periodically make changes to this User Agreement and shall notify you by posting a revised version on our Site and emailing you at your registered email address or otherwise notifying you via our Site. The revised User Agreement will become effective thirty (30) days following such notice and your continued use of our Site and Services will constitute acceptance of the revised User Agreement. Changes to the Additional Policies, except the User Privacy Notice and Payment Services Agreement, may be made from time to time without prior notice and your continued use of the Site or Service constitutes your acceptance of the modified terms of the Additional Policies.
PropSwap is a ticket marketplace that allows registered users to buy (in this capacity, "Buyer") and sell (in this capacity, “Seller”) Tickets. The Seller (and not PropSwap) sets the prices for the Tickets. As a marketplace, PropSwap does not own the Tickets sold on the Site.
3.1 In order to list, sell or purchase Tickets you must register an account ("Account") with PropSwap. You must be at least 21 years old and must be able to enter into legally binding contracts.
3.2 When opening an Account you must provide complete and accurate information and provide us with a valid credit card, debit card or PayPal account ("Payment Method"). If your registration or payment information changes at any time, you must promptly update your details in your Account. You acknowledge that PropSwap may charge any one of your payment methods on file for amounts you owe us, costs we incur or other losses arising out of your violation of this Agreement (including the Additional Policies).
3.3 PropSwap reserves the right to temporarily or permanently suspend Accounts with incomplete or inaccurate information.
3.4 You are solely responsible for maintaining the confidentiality of your Account information and password. You are solely responsible for any activity relating to your Account. Your Account is not transferable to another party.
4.0 Dropped Sales
A dropped sale means any one of the following:
Remember, reporting an issue to request a change to your sale doesn’t mean it has to be accepted. PropSwap may in its sole discretion cancel the order without further notice or payment to you.
Here are a few things to keep in mind:
If you dropped your sale, PropSwap will charge your payment method an amount equal to the greater of (i) 50% of Collect Amount of your ticket, or (ii) $250. In addition, you may be subject to other consequences as specified in the User Agreement at Clause 19, including account suspension.
5.0 What happens when you break the rules
When you violate these Seller Policies, you may face consequences, which could include the following (or any combination):
Remember, it's your responsibility to consult PropSwap's User Agreement and all PropSwap policies (including these Seller Policies) for all of the detail.
6.0 Counterfeit Tickets
If we receive a report that tickets you sold on PropSwap were not valid sportsbook tickets, we'll investigate to try to determine what caused the issue, and, if necessary, we'll reach out to you to request documentation.
In this situation, PropSwap will charge your payment method an amount equal to the greater of (i) 50% of Collect Amount of your ticket, or (ii) $250
If you fail to respond to this email and or to take any other actions required by PropSwap to investigate the invalid ticket claim, you may be charged an amount equal to 55% of the cost of the original tickets, in addition to the Invalid Ticket Charge described in the paragraph above. A response constitutes an acknowledgment of our request and a bona fide effort to investigate the claim and obtain documentation. However, failing to respond, and not being able to provide documentation are not the same. We understand that every team and venue is different, and there may be cases where you cannot obtain documentation to assist in the investigation. In these cases, we'll work with you and use your history with us, specifically your invalid ticket claim rate, to determine the resolution. You can view your invalid ticket claim rate in the Seller Data Portal any time.
7.0 Consequences for Dropped Sales and Invalid Tickets
We know things don't always go as planned. You need to report an issue right away if you:
You can report an issue by emailing firstname.lastname@example.org.
This Payment Services Agreement for Sellers ("Payment Services Agreement") is between you ("you" or "Seller") and PropSwap Services ("PropSwap Services") and applies to your use of the payment processing services ("Payment Services") provided by PropSwap Services to Sellers in connection with their use of the Site and Marketplace Services provided by PropSwap Europe S.à r.l. ("PropSwap") according to the PropSwap.co.uk Marketplace Services User Agreement ("User Agreement").
The terminology used in this Payment Services Agreement has the same meaning as in the User Agreement unless otherwise defined in this Payment Services Agreement. In the event of a conflict between one or more of the terms of the User Agreement and this Payment Services Agreement, the terms in this agreement will prevail unless explicitly stated otherwise.
This Payment Services Agreement is effective on 22 September 2016 for all current Sellers and upon acceptance for new Sellers. PropSwap Services may amend the terms of this Payment Services Agreement at any time in accordance with Clause 12.
7.0 Scope of Payment Services
The Payment Services provided by PropSwap Services enable you to receive payments from Buyers for Ticket sales made through the Site and Marketplace Services (“Payments”) and to transfer these funds to a specified payment account, once they have been released in accordance with the terms of this Payment Services Agreement.
7.1 PropSwap Services does not in any way become a contractual partner to, or other participant in, the purchase contracts concluded between Buyers and Sellers. The Payment Services provided by PropSwap Services are provided exclusively to Sellers. As a Seller you authorise PropSwap Services to receive, hold and transfer funds in accordance with your payment instructions and the terms of this Payment Services Agreement.
7.2 The Payment Services provided by PropSwap Services are only available in certain countries and territories. You can only receive and transfer funds in certain currencies. PropSwap Services may modify the supported countries, territories and currencies at any time.
7.3 The Payment Services provided by PropSwap Services is $10 per withdrawal, for Buyers. This fee is waived, should you sell a ticket with PropSwap in the prior 30 calendar days. PropSwap Services reserves the right to introduce fees or other charges at its sole discretion without prior notice.
7.4 PropSwap Services may use the services of one or more third parties, payment processors and financial institutions to provide the Payment Services according to this Payment Services Agreement.
8.0 Registration and verification
8.1 In order to use the Payment Services you must register an account ("PropSwap account") with PropSwap Services. To register you must be 21 years or older and completely and accurately provide the required information during the registration process. Only legal persons, partnerships and natural persons with unrestricted legal capacity which have their place of residence or establishment in one of the countries where PropSwap Services provides the Payment Services are permitted to register. A legal person may only be registered by a natural person authorised to represent the legal person. You are not permitted to transfer or grant access to your PropSwap account to a third party.
8.2 PropSwap Services may require you to provide additional information and/or documentary evidence during registration or at a later stage necessary to verify your or your business’ identity or that may be required by law as a condition of providing the Payment Services. In accordance with our Privacy Notice, PropSwap Services may make, directly or through a third party, any inquiries it considers necessary to validate information provided by you, including without limitation checking commercial databases or credit reports.
8.3 In order to access your PropSwap account you must use the email address and password specified during registration. You may be provided with additional credentials to enable access to your PropSwap account and/or to authorise payment transactions. You are responsible for maintaining the confidentiality and security of your credentials and must not disclose your credentials to any third party.
8.4 You are obliged to contact Customer Support if you have any indication or suspicion that any of your credentials have been lost, stolen, misappropriated, used without permission or otherwise compromised. Failure to notify us may put the security of your PropSwap account at risk and may result in you being liable for any losses that are incurred by an unauthorised access of your PropSwap account.
8.5 You must update the information associated with your PropSwap account promptly after any change to ensure it is always kept up to date and accurate. PropSwap Services may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence. PropSwap Services reserves the right to temporarily or permanently suspend your PropSwap account and/or delay or refuse payment transactions if your information is outdated or incorrect.
8.6 You are required to specify a PayPal account to which funds can be transferred from your PropSwap account ("Associated Payment Account"). You may change your Associated Payment Account at any time. If you change your Associated Payment Account pending payment transactions may be delayed for security reasons. PropSwap Services reserves the right to modify the types of payment accounts a Seller may choose as an Associated Payment Account.
8.7 If you do not use or access your PropSwap account for a period of three years it may be closed. After closure, and subject to any necessary money laundering, terrorism financing, fraud or other illegal activity checks, we will attempt to send any funds in your PropSwap account to your Associated Payment Account. If we are unable to send you the funds (e.g. because the information we have on file is no longer correct), we may deposit the funds (at your expense) with the Luxembourg Caisse de Consignation at Trésorerie de l'Etat, 3, rue du St-Esprit, L-1475, Luxembourg.
9.0 Using the payment services
9.1 You agree to only use the Payment Services for lawful purposes and to adhere at all times to all laws, rules and regulations applicable to the use of the Payment Services, including the terms of this Payment Services Agreement.
9.2 You may not use the Payment Services to receive or transfer any funds on behalf of any other natural person or legal entity. You cannot use the Payment Services to accept any payments that are not related to your Ticket sales made through the Site and Marketplace Services.
9.3 For the purpose of enabling PropSwap Services to provide you with the Payment Services in connection with your use of the Site and Marketplace Services provided by PropSwap, you instruct, authorise and empower PropSwap Services to provide PropSwap with information about your payment transactions on an ongoing basis for the duration of this Payment Services Agreement as required.
9.4 You acknowledge that PropSwap Services is required, under national anti-money laundering legislation or similar legislation to provide certain information about its customers to the competent financial intelligence unit (FIU) in charge of the fight against money laundering and terrorism financing or to law enforcement authorities. Furthermore, you instruct, authorise and empower PropSwap Services to provide information related to your PropSwap account and your payment transactions, as required by law or pursuant to its duty of vigilance (notably to prevent the fraudulent use of the Payment Services), to the relevant law enforcement authorities.
9.5 You instruct, authorise and empower PropSwap Services to share information about you with third party service providers to render its fraud detection procedures more efficient so that PropSwap Services can provide a safe and reliable environment for your use of the Payment Services, as well as for identity verification, creditworthiness and solvency checking purposes. Please contact PropSwap to receive a current list of all third party service providers PropSwap Services employs for the purposes described above.
9.6 In connection with the above, you understand, acknowledge and agree that PropSwap Services, by making available the required information to PropSwap, the competent FIU or the relevant authorities and third party service providers as described above, is not in violation of any professional secrecy, confidentiality or data protection laws of any jurisdiction it may be subject to.
10.0 Receiving payments
10.1 PropSwap Services will credit the Payments received from Buyers, less any fees, charges, set-off and other amounts due to PropSwap Services or PropSwap pursuant to Clause 4.4, to your PropSwap account no later than the business day on which the Payments are credited to PropSwap Services’ bank account.
10.2 Unless agreed otherwise and subject to Clause 4.5 below, all Payments credited to your PropSwap account will be released within 3 (3) to five (5) business days after the end of the event for which the respective Ticket(s) were sold. If the sale happens within seven (7) calendar days of the Event Date (found on the ticket), the proceeds will be credited to your PropSwap account within (3) calendar days after the Event has ended.
10.3 You will not receive any interest or any other earnings on any funds held on your PropSwap account. Claims due to default of PropSwap Services remain unaffected.
10.4 You hereby authorise and instruct PropSwap Services to pay any due Service Fees, additional fees and other charges pursuant to Clause 3.2 of the User Agreement or other amounts PropSwap is entitled to directly to PropSwap and to set them off against pending or future Payments received from Buyers before they are credited to your PropSwap account.
10.5 PropSwap Services is entitled to delay the release of one or more Payments temporarily if:
(a)PropSwap does not receive the ticket by seven (7) calendar days after the Sale occurs ; or
(b)There is a reversal or chargeback of the Payment by the Buyer or the Buyer's payment service provider.
A Payment will be released immediately after the case has been resolved and the Seller is entitled to receive the Payment.
10.6 Sellers may inform themselves at any time about all received Payments and their expected release date by contacting Customer Support.
11.0 Reversals and chargebacks
11.1 If a Payment is subject to a reversal or chargeback by the Buyer or the Buyer's payment service provider, you are obliged upon request to provide to PropSwap Services all information and documents required for the investigation of the case within a reasonable timeframe set by PropSwap Services.
11.2 A reversal or chargeback by the Buyer or the Buyer's payment service provider may occur in particular for the following reasons:
(a) A chargeback of the funding source of a PayPal payment (e.g. direct debit reversals or credit card chargebacks);
(b) A reversal or chargeback initiated by the holder of the e-money or bank account or of the credit card ("Account Holder") from which the Payment originated because of an unauthorised use of the Account Holder's account or credit card information;
(c) A reversal or chargeback based on a claim within the framework of a buyer protection or similar programme offered by the Buyer's payment service provider.
11.3 If a reversal or chargeback is based on the fact that the Buyer has communicated to his payment service provider that he has not received the Tickets or the Account Holder has reported an unauthorised use of his payment account or credit card information to his payment service provider, and PropSwap Services cannot verify the delivery of the Tickets, you are obliged to prove that the Tickets were delivered within the required delivery timeframe to the address communicated to you by PropSwap. If you are unable to prove that the Tickets have been delivered, PropSwap Services shall not be liable for the losses incurred by the reversal or chargeback of the Payment. In the event that a Payment subject to a reversal or chargeback has already been released, PropSwap Services reserves the right to set off this amount against other pending or future Payments received from Buyers before they are credited to your PropSwap account.
11.4 If PropSwap Services determines that you are incurring an excessive amount of reversals or chargebacks, PropSwap Services reserves the right to take appropriate measures to mitigate the risk including but not limited to (a) introducing payment transaction volume limits or withdrawal limits on your PropSwap account, (b) requiring you to maintain a reserve on your PropSwap account or (c) terminating or blocking your PropSwap account.
12.0 Payment instructions, manual and recurring payment order
12.5 Payment transactions from your PropSwap account will be executed at the latest by the end of the next business day after the corresponding payment instruction has been received by PropSwap Services.
12.6 You are obliged to notify PropSwap Services without undue delay after becoming aware of any unauthorised or incorrectly executed payment transactions by contacting Customer Service.
12.7 Key information relating to your payment transactions will be provided to you via email. In addition, information relating to your payment transaction history and any applicable fees or other charges is available in your PropSwap account. You may access, download and print this information at any time by logging in to your PropSwap account. Except as required by law you are solely responsible for retaining permanent records of your account history.
13.0 Unauthorised and incorrectly executed payment transactions
13.1 Subject to Clause 7.2 and 7.6 PropSwap Services will reimburse you in full for all unauthorised payment transactions sent from your PropSwap Account provided that you have informed PropSwap Services of the unauthorised payment transaction without undue delay after becoming aware of the transaction and in any event, no later than 13 months after the transaction was executed, unless PropSwap Services failed to make available the information related to the transaction in accordance with Clause 6.7.
13.2 You are liable for any losses incurred by an unauthorised payment transaction if you have acted fraudulently or failed either intentionally or through gross negligence, to use your PropSwap account in accordance with the terms of this Payment Services Agreement or to keep your credentials confidential and secure.
13.3 You will not be liable for losses incurred by an unauthorised payment transaction which takes place after you have notified PropSwap Services of a compromise of your credentials according to Clause 2.4, unless you have acted fraudulently.
13.4 Subject to Clause 7.5 and 7.6 PropSwap Services will refund you in full and is liable for losses directly and reasonably foreseeably incurred by an incorrectly or non-executed payment transaction provided that you have informed PropSwap Services of the incorrectly or non-executed payment transaction without undue delay after becoming aware of the defect and in any event, no later than 13 months after the transaction was executed, unless PropSwap Services failed to make available the information related to the transaction in accordance with Clause 6.7.
13.5 PropSwap Services is not liable for a refund or losses incurred by an incorrectly or non-executed payment transaction if the details of the Associated Payment Account provided by you were incorrect or PropSwap Services can prove that the full amount of the payment transaction was duly received by the payment service provider of your Associated Payment Account.
13.6 PropSwap Services is not liable for any unauthorised or incorrectly executed payment transactions in case the transaction was affected by abnormal and unforeseeable circumstances beyond PropSwap Services’ control, despite PropSwap Services’ reasonable precautions or where PropSwap Services acted in accordance with a legal obligation.
14.0 Blocking of accounts, delay or refusal of payment transactions
14.1 PropSwap Services reserves the right to temporarily or permanently suspend your PropSwap account, to delay or refuse payment transactions to and from your PropSwap account, or otherwise restrict its functionality if:
(a)Required by law or court order or if otherwise required by any regulatory or governmental authority, body or agency having jurisdiction over us;
(b)Required to fulfil our legal obligations in relation to the fight against money laundering and financing of terrorism;
(c)There is suspicion of unauthorised or fraudulent access to or use of your PropSwap account or that any of its security features have been compromised;
(d)PropSwap Services has reasonable grounds to believe you are carrying out a prohibited or illegal activity;
(e)PropSwap Services is unable to verify your or your business’ identity or any other information pertaining to you, your PropSwap account or a payment transaction.
14.2 PropSwap Services will notify you via email of the suspension or restriction and the reasons for it, where possible, before such measures take place and at the latest immediately thereafter, unless prevented from doing so for security reasons or by law.
14.3 PropSwap Services will reinstate your PropSwap account or execute the payment transaction as soon as practicable after the reasons pursuant to Clause 8.1 no longer apply.
15.0 Account limits and reserves
15.1 In order to comply with anti-money laundering obligations or to manage risk, PropSwap Services reserves the right at its reasonable discretion to place payment transaction volume limits or withdrawal limits ("Limits") on your PropSwap account. Such Limits are determined based on your verification status and performance and risk factors. PropSwap Services will notify you of any Limits placed on your account and the steps required to remove them. This may involve providing additional information to PropSwap Services or going through additional verification processes.
15.2 In order to manage risk or to secure your obligations under this Payment Services Agreement, PropSwap Services reserves the right at its reasonable discretion to require you to maintain a minimum balance ("Reserve") on your PropSwap account. PropSwap Services will notify you of any Reserve placed on your account. A Reserve may be raised, lowered or removed at any time with prior notice to you depending on your performance and the risk associated with your PropSwap account.
16.0 Term and termination
16.1 This Payment Services Agreement commences on the date that you register with PropSwap Services and will continue for an indefinite period unless terminated in accordance with this Clause 10.
16.2 You may terminate this Payment Services Agreement at any time without charge by contacting Customer Service. You may not close your PropSwap account while PropSwap Services is carrying out verifications of your or your business’ identity or other information pertaining to you, your PropSwap account or payment transactions.
16.3 Without limiting the rights of PropSwap Services according to Clause 7, PropSwap Services may terminate this Payment Services Agreement by giving two (2) months’ prior notice via email to your registered email address.
16.4 If this Payment Services Agreement is terminated by either party, any use of the Site and Marketplace Services as a Seller will no longer be possible.
16.5 After termination by either party, and subject to any necessary money laundering, terrorism financing, fraud or other illegal activity checks, any remaining funds on your PropSwap account will be automatically transferred to your Associated Payment Account.
16.6 Termination of this Payment Services Agreement shall not affect the rights or liabilities of either party accrued prior to and including the date of termination or expiry and/or any terms intended expressly or by implication to survive termination or expiry. If there are still pending payment transactions at the time the termination takes effect, they will still be processed pursuant to terms of this Payment Services Agreement.
It is your responsibility to determine what, if any, taxes apply to the Payments you receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority.
18.0 Amendments to this payment services agreement
PropSwap Services may periodically make changes to this Payment Services Agreement and shall notify you by posting a revised version of the agreement on the Site and emailing you at your registered email address or otherwise notifying you via our Site or Payment Services. The revised terms will become effective two (2) months following such notice and your continued use of the Payment Services will constitute acceptance of the revised terms. If you do not accept the revised terms you can immediately terminate the agreement before the revised agreement takes effect.
19.1 Subject to Clause 7 and to the fullest extent permitted by applicable law PropSwap Services (including its parent, subsidiaries, affiliates, directors, agents and employees) shall not be liable to you in contract, tort (including negligence) or otherwise for any business losses, such as loss of data, profits, revenue, business, opportunity, goodwill, reputation or business interruption or for any losses which are not reasonably foreseeable by us arising, directly or indirectly from:
19.2 Some jurisdictions do not allow the disclaimer of warranties or exclusion of damages, so such disclaimers and exclusions may not apply to you and you may have rights in addition to those contained in this Payment Services Agreement. This is especially so if you are a consumer.
19.3 You accept sole responsibility for the legality of your actions under laws applying to you.
19.4 Nothing in this User Agreement shall limit or exclude our liability for fraud or fraudulent misrepresentation, for death or personal injury resulting from our negligence or the negligence of our agents or employees or for any other liability that cannot be limited or excluded by law.
If you have a dispute with one or more users, you release PropSwap Services (and its affiliates and subsidiaries, and its and their respective officers, directors, employees and agents) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.
You agree to indemnify and hold PropSwap Services and (if applicable) PropSwap Services' parent, subsidiaries, affiliates, and our and their respective officers, directors, attorneys, agents, employees, licensors and suppliers (the "PropSwap Services Indemnitees") harmless against any claim or demand and all liabilities, costs and expenses (including reasonable attorneys' fees) incurred by PropSwap Services and (if applicable) any PropSwap Services Indemnitee resulting from or arising out of your breach of this Payment Services Agreement, your improper use of the Payment Services, and/or your violation of any law or the rights of a third party.
22.1 This Payment Services Agreement (and all documents incorporated by reference) constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior agreements and understandings between the parties hereto with respect to the subject matter hereof, whether written or oral. No amendment, modification or supplement of any provision of this Payment Services Agreement will be valid or effective unless made in accordance with the express terms of this Payment Services Agreement.
22.2 Except as otherwise stated, this Payment Services Agreement shall be governed by the laws of the Grand Duchy of Luxembourg. If you are registered as a business you agree to submit to the exclusive jurisdiction of the Luxembourg courts. If you are not registered as a business you agree to submit to the non-exclusive jurisdiction of the Luxembourg courts.
22.3 If any provision of this Payment Services Agreement is held to be invalid or unenforceable under any circumstances, its application in any other circumstances and the remaining provisions of this Payment Services Agreement shall not be affected.
22.4 PropSwap Services may assign or transfer its rights and obligations under this Payment Services Agreement at any time, provided that PropSwap Services assigns the Payment Services Agreement on the same terms or terms that are no less advantageous to you. You may not assign or transfer this Payment Services Agreement, or any of its rights or obligations, without the prior written consent of PropSwap Services, which PropSwap Services can refuse in its sole discretion.
22.5 No agency, partnership, joint venture, employer-employee or franchisor-franchisee relationship is intended or created by this Payment Services Agreement or the provision of the Payment Services.
22.6 Nothing in this Payment Services Agreement is intended to confer benefits, rights or remedies unto any person or entity other than the parties hereto and their permitted successors and assigns.
22.7 The subject heading at the beginning of each paragraph of this Payment Services Agreement is for reference purposes only and in no way defines, limits, construes or describes the scope or extent of such paragraph. The following sections survive any termination of this Payment Services Agreement: Unauthorized and incorrectly executed payment transactions, Liability and Release.
22.8 Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches. We do not guarantee we will take action against all breaches of this Payment Services Agreement.
22.9 Any complaints about us or the services we provide should be addressed to us in the first instance by contactin Customer Support.
22.10 PropSwap Services will communicate with you in the language(s) in which this Payment Services Agreement has been made available to you. You agree that PropSwap Services may provide notice or other information to you by posting it in your PropSwap Account, emailing it to your registered email address, mailing it to your registered physical address, calling you by phone or sending you mobile messages. Notices to you by email or mobile messages shall be deemed given 24 hours after the email is sent, unless the sending party is notified that the email address is invalid. Notices sent by registered mail shall be deemed to have been received three days after the date of mailing.
22.11 You may request a copy of any legally required disclosures (including this Payment Services Agreement) from us and we will provide this to you in a form which allows you to store and reproduce the information (for example, by email).
When your ticket sells, there will be a $100 “Hold” placed on your card. Your card will NOT be charged.
Once your ticket sells, you will receive a confirmation email with detailed instructions as to how to get PropSwap your ticket. PropSwap MUST receive your ticket within seven (7) calendar days. Once PropSwap receives the ticket, the “Hold” will be released.
If PropSwap does not receive your ticket within 7 days, you will be charged 50% of the ticket Collect Amount and you will not receive your Sale proceeds.