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EcommerceBytes-NewsFlash, Number 649 - November 18, 2003 - ISSN 1539-5065    1 of 4

buySAFE Launches Bonding Service for eBay Users

By Ina Steiner
November 18, 2003

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buySAFE Inc. and The Hartford Financial Services Group Inc. launched a new service Monday to address online auction risks on eBay. "buySAFE with The Hartford" enables approved eBay sellers to present a credibility seal and financially protect buyers using surety bonds.

buySAFE performs a rigorous qualification check on sellers to reduce problems such as fraud or misrepresentation. The buySAFE Seal informs buyers they are dealing with a reputable, trustworthy merchant. The Hartford, one of the top 10 U.S. surety bond writers, underwrites and issues surety bonds for a qualified sellerís online transactions. The bonds provide that The Hartford will refund the itemís sale price or replace the item in the event the bonded seller does not fulfill the terms of the sale. This protects consumers from certain online transaction risks such as fraud, misrepresentation, refund failure and seller default.

Sellers pay 1% of the selling price to buySAFE, with a minimum charge of $5 per month. Sellers may choose which eBay listings they wish to bond.


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About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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