A settlement refers to compensation or penalties processed for buyers or sellers in specific situations. It is different from standard refunds or dispute resolutions as it involves cases requiring additional steps or special handling.
When are settlements used?
Compensation Examples:
Price Adjustment: A seller provides replacement tickets at a higher price due to a previous issue. The price difference is compensated by Ticombo.
Buyer Compensation: In extraordinary cases, when compensation is needed for a buyer, the buyer should pass through seller verification for him to be able to be compensated.
Penalty Examples:
Seller Non-Delivery: If a seller fails to deliver tickets, penalties may be applied to their balance, ranging from the fee amount to the full amount paid by the buyer.
Honesty Consideration: The penalty’s severity depends on the seller's level of compliance with Ticombo’s terms. Sellers with no available balance may face account restrictions or blocking until the issue is resolved.
How do I receive compensation as a buyer?
To receive monetary compensation:
Verify your identity by uploading a valid ID and address proof.
Update your profile with payout preferences (e.g., banking details).
Submit a payout request following platform instructions.
Note: If necessary, customer support will guide you through the steps.
Why does Ticombo have a settlement process?
The settlement process ensures:
Fairness: Buyers and sellers are compensated or penalized appropriately based on circumstances.
Security: Transactions and disputes are resolved transparently.
Trust: Maintaining a reliable marketplace for all users.
By following these guidelines, the settlement process helps create a seamless and secure platform experience.