Terms & Conditions

1. Definitions

• Store Owner (Merchant): Any individual, group, or legal entity registered as a seller on the platform, responsible for the management of digital storefronts, product listings, and order fulfillment.
• Non-Operation: A state of administrative or commercial dormancy defined by a lack of “Significant Activity.” This includes, but is not limited to:
  • Failure to log into the Merchant Dashboard for 30 consecutive days.
  • Neglecting to respond to customer inquiries or platform tickets within 48 hours.
  • Zero inventory updates or order processing over a sustained period.
• Closure: The formal termination of the merchant’s presence on the platform. This may be Voluntary (initiated by the owner) or Involuntary (initiated by the platform due to breach of policy or extended non-operation).
• Significant Activity: Verifiable actions taken by the Store Owner to maintain the health and viability of the store, such as updating stock levels, processing refunds, or marketing.

2. Comprehensive Exit Policy

2.1 Closure & Administrative Fee

This fee is not a penalty for leaving, but a service charge for:

• Final audit of financial transactions.
• Secure archiving of store data for tax and legal compliance.
• Administrative labor for account decommissioning.

2.2 Formal Notification Protocol

Store owners must provide a minimum of  7days’ formal written notice via the official Merchant Portal. This notice period allows the platform to ensure a smooth transition for existing customers. The notice must include:

• A detailed statement explaining the primary reason for departure.
• The requested Final Operational Date.
• A comprehensive list of all unfulfilled “Work-in-Progress” orders.
• A designated point of contact for post-closure inquiries.

2.3 Management of Pending Obligations

No store shall be closed while consumer obligations remain outstanding. Store owners must:

• Fulfill or Refund: Every open order must be shipped and tracked or fully refunded.
• Extended Support: Maintain a “Maintenance Mode” status during the 2 day notice period to handle returns or disputes.
• Penalties: Failure to resolve pending orders will result is  per-order penalty in addition to the standard closure fee.

2.4 Financial Integrity & Settlements

The platform will conduct a final reconciliation of the Merchant’s Ledger.

• Debt Clearance: All outstanding subscription fees, advertising costs, or commission balances must be paid.
• Holdback Period: The platform reserves the right to withhold a portion of the final payout for up to 25 days post-closure to cover potential credit card chargebacks or returns.

3. Standard Operating Procedure (SOP) for Closure

4. Non-Operation & Abandonment

4.1 Inactivity Thresholds

To maintain the integrity of our marketplace, “Zombie Stores” (inactive accounts) will be flagged.

• 90-Day Rule: If a store shows no Significant Activity for 90 consecutive days, it is deemed “Abandoned.”
• Automated Enforcement: Upon the 91st day, the platform will auto-initiate the closure process. The  fee will be charged against the merchant’s linked payment method or deducted from any remaining account balance.

4.2 Proactive Communication

5. Post-Closure Data & Support

• Records Retention: In accordance with financial regulations, the platform will retain transaction records for a period of seven (7) years.
• Re-Activation: Should a store owner wish to return to the platform after a formal closure, they must apply as a new merchant and pay any applicable onboarding fees. Previous closure fees are non-refundable and non-creditable toward new accounts.

6. Policy Exceptions & Appeals

We recognize that extraordinary circumstances (e.g., natural disasters, sudden incapacitation) may arise.

• Submission: Exception requests must be submitted in writing within 14 days of the closure notice or fee assessment.
• Evidence: Documentation (medical records, legal filings, etc.) may be required to waive fees.
• Discretion: All exceptions are granted at the sole and absolute discretion of the Platform Management Team; their decision is final and binding.

The impact of a store closure on your credit profile depends heavily on how the business is structured legally and how the final obligations

Closing a business is a significant financial event. Here is a deep look at how it affects both your personal and business credit ratings.

1. Business Credit vs. Personal Credit

The first factor is the legal structure of your business.

• Sole Proprietorship: In this case, you and the business are the same legal entity. Any unpaid closure fees, vendor debts, or lease breaks will appear directly on your personal credit report.
• LLC or Corporation: If the business is a separate entity, the impact is usually limited to the business credit report (e.g., Dun & Bradstreet, Experian Business). However, if you signed a Personal Guarantee for business loans, credit cards, or the platform agreement, you remain personally liable.

2. Direct Impacts on Credit Scores

The “Debt-to-Credit” Ratio

If your available credit drops ,it will affect the store rating or credit score. If you still carry balances on other cards, your credit utilization ratio (how much you owe vs. your limit) will spike, which can lower your score.

Payment History

This is the most critical factor (comprising roughly % of a FICO score).

• If you close the store but do not pay the administrative fee, the platform may send the debt to a collections agency.
• Final Settlements: Failing to pay off final utility bills, software subscriptions, or supplier invoices during the 30-day notice period will lead to late payment reports.

Length of Credit History

Closing an older business credit account can reduce the “average age” of your credit history. Since a longer history generally signals lower risk to lenders, closing a long-standing account can cause a slight, temporary dip in your rating.

3. The Risk of “Involuntary” Closure

Section 5 of your policy mentions that the platform can initiate closure after 90 days of inactivity

This is the highest-risk scenario for your credit.

If an automated system triggers a fee that you aren’t actively monitoring, you might miss the payment deadline. Once a debt is categorized as “Defaulted” or “Charged-off,” it becomes significantly harder to secure future business loans or even personal mortgages.

4. How to Protect Your Rating During Closure

To ensure your credit score remains intact, follow these steps:

1. Clear All Balances: Ensure the Merchant Ledger is at zero before the “Final Operational Date.”
2. Formalize the Dissolution: If you are an LLC, file formal “Articles of Dissolution” with your state. This provides legal proof that the entity is closed, which can help if you need to dispute a “late” charge that appears after the business was legally dissolved.
3. Get it in Writing: Keep the “Confirmation of Closure” email (mentioned in Section 4 of your procedure). This is your evidence if a collection agency mistakenly tries to claim you owe more than the agreed-upon fees.
4. Monitor Your Reports: Check your credit report 30, 60, and 90 days

Summary: Closing a store does not inherently damage your credit score. However, unpaid obligations resulting from the closure