I'm going to stop the Timef crisis from happening again...Settlement and deposit of at least 50% of sales price within 20 days

'Timev' Announces Measures to Prevent Reoccurrence of Unsettled Situation
Settlement of e-commerce sales within 20 days
Settlement within 10 days based on the date of accommodation, performance, and consumer use

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In the future, e-commerce operators will have to pay the sales price to the store operator within 20 days when the consumer confirms the purchase.

In addition, more than 50% of the sales price should be deposited in financial institutions so that even if the platform goes bankrupt, the business operator can receive some of the sales price back.

Connect reporters. Reporter Oh In-seok.

The Fair Trade Commission announced a plan to revise the large-scale distribution industry law this morning.

Please tell me the details.

[Reporter]
Yes, the Fair Trade Commission has come up with a plan to revise the large-scale distribution industry law to prevent the recurrence of Timon and Wemakeff unadjusted incidents.

There are two key contents.

First, in the future, the online brokerage transaction platform must pay the sales price directly or managed by the payment agency to the store operator within 20 days from the date the consumer confirms the purchase.

The FTC explained that it considered the fact that the average settlement date for businesses subject to the law is 20 days.

However, if services are supplied after purchase, such as accommodation or performance, consumers are required to settle within 10 days based on the actual date of use.

In addition, if the platform or payment agency does not receive the sale price by three business days before the settlement deadline, it can be settled within three business days from the date of receipt of the payment.Businesses subject to the

Act are online brokerage transactions with domestic brokerage transactions of more than 10 billion won or more than 100 billion won in brokerage transactions.

The FTC has also prepared a mechanism for safe management of sales proceeds.

It imposed obligations in the form of depositing more than 50% of the sales price separately at financial institutions or subscribing to payment guarantee insurance so that even if the platform goes bankrupt, business operators can receive some of the sales price back.

In principle, sales cannot be seized, and online brokerage transaction platforms transfer or provide collateral is prohibited.

If the platform goes bankrupt, we plan to pay the sales price first to the store operator and receive reimbursement before other creditors.

The FTC has decided to give operators a one-year grace period after the bill is promulgated so that they can prepare for the new bill.

The FTC expected that the revision would increase the safety and reliability of transactions of many small business owners and strengthen the fairness of the online brokerage transaction market.

So far, the Fair Trade Commission has informed you.