B2B eCommerce Q&A Forum

    1. Virginia Newcome
    2. FINANCIAL SERVICES
    3. Wednesday, 28 June 2017

    What happened to the Amazon Pay A-Z Guarantee for purchases on any B2B ecommerce site as long as Amazon Pay was used?

    Solomon Wisdom Accepted Answer Pending Moderation
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    Hi Virginia:

    It might have been for not just B2B services. But in any case I think it was discontinued in April of this year (2017). Here are some things to remember it by!

    This Amazon Pay program may have been discontinued as of April 2017 and is provided here only by way of historical information. The Amazon A-to-z Guarantee provided buyers with an opportunity to obtain a full reimbursement for their purchase or cancel their authorized payment if they were not satisfied with a purchase made on a third-party site using Amazon Payments. Under this program, Buyers could file an A-to-z Guarantee claim when one of the following conditions applied: (i) Items not received; (ii) Late Delivery; (iii) defective or damaged items, missing parts, or not as depicted in Sellers description; (iv) Non-reimbursement for, or non- acceptance of, returns; (v) Wrong invoice amount; (vi) The payment is not made via the Send Money or Request Money features (Person-to-Person or P2P payments) on the Amazon Pay platform. The guarantee provided confidence and trust when buyers shopped from the universe of sellers who use the Amazon Pay service.

    Check here for more.

    1. more than a month ago
    2. FINANCIAL SERVICES
    3. # 1
    Solomon Wisdom Accepted Answer Pending Moderation
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    Oh and here is a short blurb on Trade Assurance:

    What is Trade Assurance?

     

    It is not credit insurance. It is not Marine Insurance. Very simply it is contract Assurance. It is assurance that the buyer got what was ordered, when it was ordered for. It is also assurance that the seller does not find out after delivery that the buyer ordered something else. So it is firstly assurance that there will not be a dispute. But unlike retail sales, in a B2B transaction are more complex and the disputes are seldom cut and dry. Trade assurance bridges this complexity by providing a guarantee that the interest of the buyer and the seller is financially protected as long as certain conditions are met. These conditions are generally assured through inspections by an independent third party that the specifications, quality and quantity are as agreed. For FOB orders, the inspection can take place at the point of shipment – generally at the seller’s location while for CIF orders this can be at the buyers location. In practice, as orders get larger and more complex, the likelihood of this assurance being underwritten reduces. Trade Assurance is not Insurance, it more like a surety bond, where the seller still retains some or all of the responsibility and typically indemnifies the provider of the Surety Bond. In the case of Trade Assurance one or more of 4 things are assured: (i) Specifications; (ii) Quality; (iv) Quantity and (iv) Timeliness. Sometime the Buyer also shares some of this risk with the provider of the Surety Bond as will be seen in some of the examples on this page.

    1. more than a month ago
    2. FINANCIAL SERVICES
    3. # 2
    Virginia Newcome Accepted Answer Pending Moderation
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    I read about the Full Outturn Guarantee (FOG) provided by a company called COTECNA which is listed in this site under service providers. Is this FOG a form of Trade Assurance?

    1. more than a month ago
    2. FINANCIAL SERVICES
    3. # 3
    Solomon Wisdom Accepted Answer Pending Moderation
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    No COTECNA's FOG is really a form of Marine Insurance. Let me explain:

    The Cotecna Group, described elsewhere in the pages on Inspection Services, also provides what looks like Trade Assurance in one of the 5 areas of Cost, Specification, Quality, Quantity, and Timeliness, in this case Quantity. In addition to its various inspection services, Cotecna also offers what it describes as a Full Outturn Guarantee (FOG). In conjunction with top-rated underwriters, Cotecna can provide its' clients with a guarantee against the possible shortage of goods which may occur between their loading at origin and their unloading at destination, resulting in compensation for the client in the event of a quantity loss. Strictly speaking this might also be considered Marine insurance since the protection is against underage after the seller has shipped the order.

    1. more than a month ago
    2. FINANCIAL SERVICES
    3. # 4
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