Refund Policy

Last updated: February 1, 2026

ReadyBid uses a secure escrow payment system powered by Stripe. Funds are held in escrow until the transaction is successfully completed. This policy explains how refunds, disputes, and cancellations are handled.

1. How Escrow Works

When a buyer accepts an offer and makes a payment, the funds are not immediately released to the seller. Instead, they are held securely in escrow by Stripe until the buyer confirms that the item or service has been delivered as described.

• Payment is collected from the buyer when an offer is accepted.
• Funds are held in escrow during delivery/fulfillment.
• The buyer confirms delivery to release funds to the seller.
• ReadyBid deducts a 5% platform fee before releasing funds to the seller.

2. Cancellations Before Delivery

Buyer Cancellation

If a buyer needs to cancel a transaction before the seller has shipped or begun delivering, a full refund will be issued to the original payment method. Cancellation requests should be made as soon as possible through the transaction page.

Seller Cancellation

If a seller is unable to fulfill an accepted offer, they should notify the buyer immediately. In this case, a full refund is automatically issued to the buyer. Repeated seller cancellations may result in account restrictions.

3. Disputes

If a buyer receives an item or service that does not match the offer description, they can open a dispute through the transaction page. The dispute process works as follows:

1. Buyer opens a dispute and provides a description of the issue along with any supporting evidence (photos, screenshots, etc.).
2. Seller is notified and given the opportunity to respond with their own evidence.
3. ReadyBid reviews the dispute and examines evidence from both parties.
4. A resolution is issued, which may include one of the following outcomes:

• Full refund to buyer: If the item/service was not delivered or significantly differs from the description.
• Partial refund: If the item/service was delivered but with minor discrepancies.
• Funds released to seller: If the delivery was as described and the dispute is not valid.

4. Refund Timelines

Refund times may vary depending on your bank or payment provider. ReadyBid processes refunds immediately upon resolution, but it may take additional time for the funds to appear in your account.

5. Non-Refundable Situations

Refunds may not be issued in the following circumstances:

• The buyer confirmed delivery and the transaction has been completed.
• The dispute deadline has passed (disputes must be opened within 14 days of delivery).
• The buyer's claim is not supported by evidence.
• The item or service was delivered as described in the offer.

6. Platform Fees

ReadyBid's 5% platform fee is deducted from the seller's payout at the time funds are released. In the event of a full refund to the buyer, no platform fee is charged. For partial refunds, the platform fee is recalculated based on the final settled amount.

7. Chargebacks

If a buyer initiates a chargeback through their bank or credit card company instead of using ReadyBid's dispute process, ReadyBid reserves the right to suspend the buyer's account pending investigation. We strongly encourage all users to resolve issues through our built-in dispute system first.

8. Contact Us

If you have questions about a refund or need help with a transaction, please contact us at support@readybid.com.