Hi,

I trade online, as a buyer and seller, mostly on auction sites where I
have the issue of trust come up.

Where do I buy online fraud insurance where people would then buy from
me or sell to me without worrying too much about it?

I'm not asking about escrow services.

If I didn't phrase this right, please help me out. :-)

-Mao

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Request for Question Clarification by pinkfreud-ga on 11 Jul 2005 14:28 PDT

Howdy, Mao!

Is this what you're looking for?

http://ww2.buysafe.com/jump.jsp?itemID=0&itemType=HOME_PAGE

More info here:

http://www.entrepreneur.com/article/0,4621,321418,00.html

Please let me know what you think.

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Clarification of Question by 6ra3-ga on 11 Jul 2005 14:41 PDT

Hello Pink,

Glad to meet you again in one of my questions, the question and its
author are both honored! :-)

You've covered my question, but would you also see if you can see how
this would, if possible, benefit a buyer gaining credibility in
auctions specially by those whom only sell to buyers that have
history?

-Mao

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Request for Question Clarification by pinkfreud-ga on 11 Jul 2005 14:44 PDT

I'm unlocking your question so that someone else can have a shot. I
have never used BuySafe, nor have I dealt with anyone who has used the
service, so I can't comment on whether or not it would benefit a
buyer. I hope another Researcher with some firsthand experience can
help you. Hope I helped a little.

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Clarification of Question by 6ra3-ga on 11 Jul 2005 15:39 PDT

Hi Pink,

Actually, I believe it does satisfy the majority of my question. 
Shall I adjust the amount to $35 where you would past an answer
summarizing the service you suggested in the answer fields?

-Mao

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Clarification of Question by 6ra3-ga on 12 Jul 2005 05:36 PDT

Hell Pink,

I'm waiting for your answer. :-)

-Mao

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Request for Question Clarification by pinkfreud-ga on 12 Jul 2005 11:22 PDT

Mao,

Sorry I didn't get back to you more promptly. We are supposed to be
notified by email when there's a clarification response, but sometimes
the notification system is very, very slow.

If you'd like to reprice the question, I'll be pleased to gather more
info on the service that I mentioned above.

~Pink

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Clarification of Question by 6ra3-ga on 12 Jul 2005 12:20 PDT

Hello Pink,

Glad to hear it.. yes please.. including costs and options and
important bits that might be hidden in the fine print. :-p

-Mao

Thanks for accepting my suggestion of "buySAFE" as your official
answer. I've gathered some info for you. As I mentioned earlier, I
have not used buySAFE. It seems quite reputable, and I haven't found
any reason to doubt the genuineness of the organization, or the
reliability of the surety bonding that is being offered.

The main buySAFE home page:

buySAFE Home Page
http://ww2.buysafe.com/jump.jsp?itemID=0&itemType=HOME_PAGE

Here's a Flash audio tour of buySAFE:

buySAFE: Audio Tour
http://ww2.buysafe.com/jump.jsp?itemType=CATEGORY&itemID=48&path=1%2C2%2C6%2C48

In order to qualify for buySAFE, you'll need to provide this information:

"Identity Verification Information:

Social Security and Driver's License Number 
Federal Tax ID Number (if you have one) 
This information is used solely for authenticating your identity using
independent databases and for accessing your credit information to
ensure you pass our credit-based evaluation process.

eBay Information

User ID, Feedback Rating, Percentage Positive, Monthly Sales Volume
and Email Address
As with all your information, your eBay information is carefully
protected. Your eBay User information is needed to verify your
experience with selling on eBay and for enabling us to post the
buySAFE Seal on your item listings in accordance with eBay's posting
guidelines.

Financial Information

Monthly Income 
Estimated Personal and Business Bank Account Balances 
Estimated Non-cash Assets (estimated value of property you own) 
Estimated Total Liabilities (total of all loans such as business
loans, mortgages, auto loans and credit cards)
This information helps us evaluate your financial strength and
stability. Historically, individuals and businesses that have adequate
financial resources to meet their obligations pose significantly less
risk of default, non-performance or fraud.

Payment Information

Estimated Total Liabilities (total of all loans such as business
loans, mortgages, auto loans and credit cards)"

Pricing info:

"You pay 1% of the final sale price for each Bonded Item you sell. You
will only be charged for Bonded Items that you sell...

buySAFE is free to buyers because Bonded Sellers pay to protect their
transactions and their buyers - an important sign that you really care
about your customers.

When you post the buySAFE Seal and protect an eBay transaction with a
bond from one of buySAFE?s trusted surety partners, the total charges
are 1% of the final sales price of an item, excluding taxes, shipping
and handling, and other fees.

The total 1% charge includes a 0.65% charge for buySAFE Seal services
and a 0.35% charge for the surety bond from buySAFE?s surety partner.
You pay only for successfully closed transactions. If eBay provides
you with a Non-Paying Bidder (NPB) refund, buySAFE will also refund
your fees for that transaction. Charges are billed monthly and are
calculated in U.S. dollars."

buySAFE: Apply Now
http://129.33.210.36/jump.jsp?itemType=GATEWAY&itemID=7&path=1%2C2%2C7

You can obtain more info on buySafe by filling in this online form:

buySAFE: Partner Page
http://response.buysafe.com/sellers/index.php?siteid=otwa&adid=partnerpage

"BuySAFE was founded in late 2003 by Steven Woda, an avid eBay shopper
who got ripped off by a seller in a transaction for a handheld
computer. He knew that shopping online with an unknown seller could be
risky and that there were many people leery of it, so he melded his
background in surety bond underwriting with eBay auctions to help make
online shopping a much safer proposition.

Today, buySAFE issues surety bonds through Liberty Mutual, one of the
top U.S. surety bond writers. Once buyers make a bonded purchase, they
can actually view a PDF file version of their 'insurance policy'
online, one that lists their name, the item they purchased and the
selling price of the item. This visual goes a long way toward
instilling confidence in the purchase. As a matter of fact, buySAFE's
recent buyer survey revealed that approximately 96 percent of online
buyers prefer to buy from a bonded seller if terms and price are the
same--even if the competing seller had higher feedback ratings."

Entrepreneur: What's All the Noise About Surety Bonding?
http://www.entrepreneur.com/article/0,4621,321418,00.html

"December 30, 2004  
BuySafe has chosen Liberty Mutual to be the main provider of surety
bonds for its eBay-seller bonding service. The Hartford had been the
main provider, and it will continue to be a BuySafe partner and
investor.

BuySafe launched a year ago, enabling approved eBay sellers to
financially protect buyers using surety bonds. Sellers purchase surety
bonds from BuySafe and include the BuySafe seal in their eBay
listings. The program is designed to assure buyers that it is safe to
buy from participating sellers, who must pass a comprehensive
inspection to ensure they are established and reliable. Sellers pay a
percentage of their items' selling price to BuySafe.

With BuySafe's new relationship with Liberty Mutual, the service now
guarantees the terms and conditions of purchases made from
participating sellers with promised refunds of up to $25,000."

AuctionBytes: BuySafe Partners with Liberty Mutual for eBay 
http://www.auctionbytes.com/cab/abn/y04/m12/i30/s02

"A company called buySafe Inc. in Alexandria, Va., has come up with a
way to use an ancient financial instrument, known as a surety bond, to
remove the uncertainty from eBay transactions.

A surety bond is a guarantee issued by a third party, usually an
insurance company, that a particular vetted individual will live up to
the terms of a contract...

BuySafe started testing with a handful of vendors in November 2003.
Since April, all sellers have been able to apply to qualify for the
bonds. Currently, it's the only seller of surety bonds for eBay
transactions."

IEEE Spectrum: eBuyer, Beware
http://www.spectrum.ieee.org/WEBONLY/resource/oct04/1004webs.html

To be fair, I must admit that not everything said about buySAFE on the
Web is favorable. There are some wild allegations about buySAFE flying
around. I'd suggest taking this with a large grain of salt:

The Alarm Clock: Is BuySafe Evil?
http://www.thealarmclock.com/mt/archives/2005/06/is_buysafe_evil_1.html

This was the Google search string that led me to informtion on buySAFE:

Google Web Search: ebay "surety bond OR bonds OR bonding"
://www.google.com/search?hl=en&q=ebay+%22surety+bond+OR+bonds+OR+bonding%22

I hope this is helpful! Please let me know if anything is in need of clarification.

Very best regards,
pinkfreud

As good as the usual superior quality. :-)

-Mao

This may interest you:

http://www.peoples.com/im/cda/rcknox_services/1,,11852,00.html

Best regards,
Rainbow

Hello Rainbow,

Tell you what, how much would you think is a fair amount for making a
summary of their services and comparing them to buysafe's services
along with some costs estimation even if they take communications via
email with the company?

If I can agree with you here in the comments, I'll post another question for you.

Thank you.

-Mao

Hi Mao,

Thank you for your comment. Unfortunately, I was not able to find out
much more about the eTailer Fraud Solution Insurance Policy besides
what is provided in the link in my previous comment.

Wishing you the best,
Rainbow