Occasionally buyers will accumulate a B-Stock Balance– a sum of credit on their account. This can happen for a variety of reasons. In this post, we’ll break down when and why credit is issued and how to apply it towards your auction purchases.
Reasons to Receive Credit
So, you’ve got a credit balance on your account, why is it there? From overpayment to consolidation, there are a few reasons why credit is issued. Let’s take a closer look.
Shipping credit: This type of credit comes directly from the shipping facilitator (eg. C.H. Robinson) and is issued for a variety of reasons:
- Consolidation: If multiple orders can be shipped via one truck rather than shipping each order individually. This is dependent on the marketplace, pallet count, and if the truck is LTL (less than truckload) vs FTL (full truckload).
- Liftgate: If you paid for a lift gate service but it was not provided for whatever reason, it may qualify for a refund.
- Residential fee correction: Shipping carriers charge $90 for residential classified addresses. If an address was assessed inaccurately or if the delivery address was changed after the initial payment of this fee, the fee would be refunded. Note: self-storage facilities and other non-business locations can still be classified as residential due to limited access for trucks.
Order credit: This could be anything that comes from a dispute resolution, such as item shortage, overpayment, or not-as-described product.
Buyer pre-payment credit: Some buyers send a surplus amount of money to store on their account to be used when necessary. This is usually done to avoid multiple wire transfer fees.
Promotional credit: Occasionally B-Stock will offer buyers promotional credit for becoming a new buyer, filling out surveys, or other promotional opportunities.
Automatic Credit Deductions
Credit is usually only applied at the buyer’s request. However, there are select circumstances in which credit may be deducted automatically and they include:
Shipping fees assessed after payment: Shipping fees that happen after payment but before delivery. For example:
- Detention fee: This is when the buyer takes longer than the allotted time to unload their deliveries from the truck.
- Liftgate: If the liftgate was not paid for but required and used on delivery.
- Residential fee: When the delivery address is not initially charged a residential fee but the address is later confirmed as a residential address.
- Redelivery fee: This happens when the buyer cannot accept the delivery on the scheduled date and arranges a different date.
Marketplace reinstatement fee: This is a fee paid by the buyer in order to be reinstated into a marketplace. This occurs after their account is blocked due to order cancellation. The fee is $100 but can go higher if a buyer has had previous order cancellations.
If any of these fees are assessed on the buyer and the buyer has credit on their account, it will be deducted immediately to pay for the fees.
How to Use Your Credit
There is no expiration on B-Stock credit and it can be applied anytime at the buyer’s discretion. The credit balance can be broken up in smaller amounts or used in full. The only instance in which credit cannot be used is for a marketplace in which B-Stock does not collect payment. There are select marketplaces that buyers pay the Seller directly and B-Stock does not collect payment on the Seller’s behalf.
Using your B-Stock Balance is easy. You can see your total credit balance and apply it to unpaid orders. Additionally, you will also be able to see details for the reason you have a B-Stock Balance, the amount, and when it was issued.