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Billing and Payment Policy
SHOPGBAY.COM IS PROTECTED BY A SHA-2 & 2048-BIT ENCRYPTION.
Compatible with all major browsers, our SSL certificate covers unlimited servers, keeps payments & customer data private and is backed by up to USD$1,000,000 in liability protection. Hosted on a server within the United States of America.
1. Exchange Rates
Shopgbay.com updates the exchange rate daily in correspondence with what the Guyana Dollar is trading at globally to the US Dollar.
As of the 28th of June 2015, GYD is trading at GYD$207.21000671 to USD$1.00.
It is our recommendation that when converting the cost of your merchandise from GYD to USD, you divide by ‘206’.
However, fell free to use the exchange rate(divisor) as seen best fit by your internal financial department/consultant. We will not object provided that you keep your bottom line at GYD$200.00 to USD$1.00
TIP – If you’d prefer to convert at the exchange rate as per recommended by your own financial department/consultant, please include your sales department in your decision making. The displayed cost price in USD as influenced by your conversion rate can serve as an incentive or deterrent to a paying customer.
Listing items on shopgbay.com can be considered a relisting of the same product on a virtual platform. When relisting your item to the public in US Dollar, it can carry a US Dollar price that isn’t necessarily the exact equivalent to the Guyana Dollar. You’d be interested in utilizing ‘Psychological Pricing’ aka ‘Price Charming’ where you list an item for USD$9.95 instead of USD$10.00, USD$14.99 instead of USD$15.00 etc.
1. shopgBay’s commission.
shopgBay’s commission is 0%. There is a hosting fee; however you only pay for hosting once an item is sold. The default hosting fee is 8% of the item cost and can be negotiated to a different percentage based on our agreement with your business at registration’s approval. Your hosting fee can be reduced based on these factors that will remain confidential between shopgbay.com and your company:
- What is the current percentage markup you’re seeking on your merchandise?
- Expected monthly sales on shopgbay.com?
- Will you offer discounts/specials for customers?
- Would you be interested in rewarding your customers with gift vouchers?
- Would you be interested in rewarding your customers with coupons?
- shopgBay.com affiliates. (2%)
shopgBay’s hosting fee was selected based on commissions accepted by the two leading ecommerce marketplaces in the world whose commission ranges from 10-15%
shopgBay.com currently has NO listing fee for most categories (except Autos and Real Estate).
1. Shipping fees
Delivery widens your customer base across the length and breadth of Guyana. Customers whom would have otherwise been unable to purchase from your company due to distance, end of business hours or inconvenience can now do so and receive their goods in a timely manner. We’re well aware many customers in outlying areas see City businesses advertising on television, radio and Facebook, but are unable to make purchases at their leisure. shopgBay.com is online 24/7 and hosted on a server in Scottsdale, Arizona USA with a 99.999% up-time.
You will also widen your revenue base since finally - family, friends and love ones abroad can purchase and ship their entire shopping cart to someone they care for in Guyana.
International shipping of merchandise to overseas shoppers is in the works and will be in an updated version of this document.
- You already offer Free Deliveries.
If your company offers deliveries to some areas and not others, an approved third party courier can fulfill the delivery for you.
- For payments in Guyana Dollar, shopgbay.com currency converter must be used to convert the US Dollar price into it's GYD equivalent.
- Payments via GTT Mobile Money are to be made in Guyana Dollar. After your order is placed, you will receive a request for payment via Shop N' Go prompt from shopgbay.com within 24 hours.
- For payments via Bank Transfer in person. Shopgbay must receive the correct balance in Guyana Dollar, otherwise your order will be put on hold until the correct/outstanding funds are sent. A user must present a Shopgbay POP(proof of purchase) to the teller. The teller will require your (1)shopgbay account number, and your (2)Invoice Number or Order ID to complete the transfer.
- Order Confirmation detailing selected Payment Method and order status is automatically generated after checkout and e-mailed to you.
- Non-Payment. ShopgBay reserves the right to cancel any order WITH OR WITHOUT NOTICE for nonpayment. If you fail to pay for your order for 35 days after the date of purchase, shopgBay may suspend your account.Suspension does not remove your responsibility to pay all due fees incurred up to the date that shopgBay terminates your account. If shopgBay incurs any fees or costs in collecting any past-due amounts, including costs of legal counsel, you agree those fees and costs will be added to the amount you owe. The merchant reserves the right to seek damages for not receiving payment for 35 days whilst being restricted from selling the item to other interested buyers during that time period. If you no longer wish to pay for an item, you SHOULD cancel your order. Canelling an order is at NO cost to you, or obligation to the merchant.
- Returned Checks. Any checks returned by the issuing institution/bank will be charged a processing fee of USD$25.00
- Gift Cards and Vouchers are accepted.
- In purchasing a property or vehicle, payments are made via Bank Transfer or Check.
- Banks Transfers, Checks, GTT Mobile Money Shop N Go (Merchant code 03914), are to be made to "gBay, 58 David Street, Kitty, Georgetown" only, and never directly to merchants. Payments not made to and where specified at checkout will not be considered payment received and the merchant has no obligation to fulfill your order.
- Merchants may not provide URL links to 3rd Party Websites that have items listed for sale online. This will result in account restrictions or termination.
- Merchants may not try to request shopgBay users to make payments outside of ShopgBay checkout gateway. Doing so will result in immediate termination of your account, funds generated through shopgBay frozen and likely legal action.
Payments are made out to Affiliates based on earnings for a calendar month. Bank Transfers/Checks are issued/mailed 30-94 days after the conclusion of the respective calendar month where earnings are due.
We do not permit buyers and sellers to exchange any other form of compensation in exchange for merchandise outside of what is stated here. Violation can result in suspension of your account.
- accepted currencies.
Although you can use currency converter at the top of your page (which will convert all prices from USD to GYD at the daily exchange rate) you CAN NOT checkout in GYD on . Your cart must be in USD for to accept your payments.
*** Customers can register for with their local ATM Card even if their Bank account is in Guyana Dollar. However, will only convert the GYD funds on your card to USD when you checkout in USD currency. will NOT do a currency conversion of the funds on your card if you, the customer, attempt to checkout in GYD.
Third Party Transfers or Deposits to Republic Bank are free of charge. Local Inter-Bank transfers and wire-transfers from foreign banks may attract fees. Customer Absorbs fees.
If accepts payments on your behalf namely through Bank Transfer or GTT Mobile Money, are issued within 2-14 business days of the buyer confirming delivery via Bank Transfer, Check or under special circumstances, cash, or 30 days in lieu of confirmation.
are issued in Guyana Dollar currently.