FAQs | Page 2 of 4

Q: The buyer is asking me to send the item(s) before they have secured the quote by payment into IPromise's BNZ Trust Account (escrow account). Should I do this?

No, only send or hand over the agreed item(s) once the quote has been secured with payment into IPromise's BNZ Trust Account (escrow account).

Q: I have two or more potential buyers for an item, do I send IPromise quotes to them all?

No, absolutely not. It is important to firstly agree on a price with one buyer and then send one quote per transaction. If you want the buyer to decide quickly, we recommend putting a very short expiry date on the quote e.g. one day. That way if the buyer doesn't secure the quote before it expires, you can send a new quote to another buyer. N.B.: You can quickly edit the expired quote and send it to another buyer to save you time.

Q: How much does it cost to sell an item on IPromise?

It costs the Seller a flat fee of $10 on all transactions. There is no cost to the Buyer. There is currently no sign up fee to IPromise if you are buying or selling items. No commission is taken on NZ Bank Account to NZ Bank Account transactions. A small processing fee is charged for credit card payments. This processing fee is paid for by the card holder.

Q: Does IPromise work for any item I am selling?

Yes it does. Buyers can offer IPromise's secure fair and secure payment service for any item. e.g. vehicles, boats, sporting equipment, building materials, antiques, art, electronics, jewellery etc.

Q: How does the free 90-day trial work?

All our Customers have the opportunity to benefit from the full functionality of IPromise for 90 days. We have selected 90 days because most services (that our Customers provide) take weeks to quote, secure payment and then deliver. IPromise is committed to providing users with the opportunity to experience as many of the key features and benefits as possible. After the 90 days, in order for Customers to receive payments from their customers (via our secure BNZ Trust account or escrow account), they will need to select from one of the three monthly subscription options. See our pricing page for more details. However, all ‘Quoted’, ‘In Progress’ and ‘Completed Awaiting Approval’ projects within the 90-day trial period will continue to remain active and free until completion. IPromise is ALWAYS free for your customers. Start your free trial today . NB: The 90-Day Trial does not apply to Items/Goods traded through IPromise.

Q: What if I don’t know how much a job will cost when quoting?

The best way to cover investigations of faults (or unknown outcomes)when quoting is to send your customer the minimum cost of the call out fee. For example, it might be one hour of your time and travel (if applicable). Don’t go to the job until your customer has paid the minimum amount into the secure BNZ Trust Account (escrow account). You can then attend the job, complete the investigation and add a variation to that ‘call out fee quote’ detailing the work you have found that is required to be actioned. That way you have at least locked away the call out fee money for your valuable time and your customer is clear about what additional costs are required. They can then decide to proceed or otherwise with the remediation. The great thing about IPromise is that by completing the first ‘call out fee quote’ you have all the correct contact details for your customer saved in IPromise and future quotes are transparent and simple to manage from then on.