Payment Terms & Conditions
Last updated: 7 June 2026
Effective date: 7 June 2026
1. Payment Deadline
- 5 days after auction close.
- Strict deadline — no exceptions.
- Failure results in bid cancellation and account review.
2. Accepted Payment Methods
- Wire / Bank Transfer — recommended, no fees.
- Credit / Debit Card via Stripe (2.9% fee).
- No cash, cheques, or cryptocurrency.
3. Wire Transfer Details
- Bank: [BANK NAME — to be provided]
- Account: [TO BE PROVIDED]
- Account Name: Key Asset Technologies LLC
- Routing / ABA: [TO BE PROVIDED]
- You MUST include your payment reference number.
4. Card Payment
- Powered by Stripe (PCI compliant).
- 2.9% + $0.30 processing fee.
- Instant confirmation.
- Major cards accepted (Visa, Mastercard, Amex).
6. Sales Tax
- Illinois sales tax of 6.25% where applicable.
- Collected as a marketplace facilitator on behalf of the state.
- A tax invoice is provided.
7. Currency
- All amounts are in USD.
- Wire transfers and card payments are processed in USD.
8. Payment Verification
- Wire transfers: 1–3 business days to verify.
- Card payments: instant.
- A receipt is emailed upon verification.
9. Late Payment Consequences
- Day 3: Reminder email sent.
- Day 4: Final reminder.
- Day 5: Bid cancelled.
- Day 7: Account suspended.
- Repeat offenders: permanent ban.
10. Refunds
- Generally no refunds (see Refund Policy).
- The platform fee is non-refundable.
- Exceptions apply for proven platform errors.
11. Tax Receipts
- A tax invoice is provided.
- Suitable for business expense claims.
12. Payment Disputes
- Contact: payments@katexchange.com
- Response within 4 business hours.
Questions? payments@katexchange.com
Last reviewed by counsel: 7 June 2026