BOONCART – SELLER KYC & VERIFICATION POLICY
This Seller KYC & Verification Policy (“Policy”) governs the onboarding, verification, re-verification, and compliance obligations of all sellers (“Seller”, “you”, “your”) who list and sell products on the Booncart marketplace (“Booncart”, “we”, “us”, “our”). This Policy forms an integral part of the Seller Terms & Conditions, the Payments & Settlement Policy, the Seller Code of Conduct, and all other operational policies of the Platform. By registering as a Seller on Booncart, you acknowledge that you have read, understood, and agreed to comply with the terms of this Policy.
Purpose of KYC Verification
Booncart requires every Seller to complete a mandatory KYC verification process to ensure a safe and trustworthy marketplace. The verification process is designed to authenticate the Seller’s identity, establish the legitimacy of the business, ensure compliance with applicable tax and regulatory requirements, and prevent fraudulent or unauthorised sellers from operating on the Platform. KYC verification also helps maintain transparency, accountability, and customer protection while enabling Booncart to adhere to statutory obligations under Indian law, including the Digital Personal Data Protection Act, 2023. All submitted KYC documents undergo a systemic review by Booncart’s verification team, and the standard turnaround time for completing this review is typically between 24 to 72 hours. Sellers will be notified once their KYC has been successfully approved or if additional information is required.
Documents Required for Verification
To onboard a Seller on the Platform, Booncart requires valid and complete documentation that establishes the Seller’s business identity, ownership, and operational details. Depending on the nature of the business, this may include identity proof of the authorised signatory, PAN information, GST registration details, business registration documents, proof of business address, bank account verification, and brand-related authorisations for branded products. These documents must be genuine, current, and consistent with the information provided during registration. Booncart reserves the right to request additional documentation where required for legal, category-specific, or risk-related reasons. Sellers are also required to ensure that all KYC information remains accurate at all times. Any change in business details such as updated addresses, renewed registrations, modifications in ownership, revised GST details, or changes in bank information must be updated within 7 days of such change. Failure to update documents within this period may result in temporary suspension of listings, withholding of settlements, or restricted account activity until compliance is completed.
Verification Procedure
Upon submission of the required documents, Booncart undertakes a multi-layered verification process involving authentication of the submitted documents, validation of tax and registration identifiers through official databases, confirmation of authorised signatories, and, where applicable, physical or digital verification of business premises or warehouses. Booncart may also require confirmation of brand ownership or authorised distribution rights for Sellers listing branded products. In situations where discrepancies arise particularly in cases of PAN and GST mismatches, which are common among Sellers the verification team will place the Seller’s account under review, and all payouts or settlements will remain temporarily paused until the mismatch is corrected and fresh documentation is provided. Sellers may begin listing products only after successful completion of the verification process, and until verification is fully completed, certain Platform functionalities, including payments and settlements, may remain restricted.
Continuing Obligations and Re-Verification
Verification is not a one-time exercise. Booncart may initiate re-verification at any time if there is a change in the Seller’s business structure, ownership, address, GST details, banking information, or authorised signatory. Re-verification may also be triggered by unusual activity, recurring customer complaints, concerns relating to product authenticity or quality, or discrepancies identified during routine audits. Certain KYC documents such as GST certificates, brand authorisation letters, licences, or registrations have predefined validity periods, and Booncart may request updated versions of these documents up to thirty (30) days prior to their expiry to ensure uninterrupted compliance. Sellers must cooperate fully with all re-verification activities and furnish updated or additional documents upon request. Failure to comply with re-verification requirements or to provide renewed documents before expiry may result in suspension of listings, withholding of settlements, or deactivation of the Seller account.
Warehouse and Operational Address Validation
For Sellers operating in logistics-heavy or high-risk categories, Booncart may conduct warehouse or pickup-location verification to confirm that the Seller possesses adequate storage, packaging, and operational capacity. This may include inspections, video verification, or review of inventory and storage conditions. Any mismatch or inconsistency between declared addresses and operational locations may lead to temporary restrictions or suspension until the Seller corrects the discrepancies and completes re-verification.
Brand Authenticity and Compliance Requirements
Sellers who list branded or trademark-protected products must provide evidence of authorisation to sell such products. Booncart may require brand authorisation letters, trademark certificates, distributor agreements, or supplier invoices as part of the verification process. Where product authenticity is questioned, Booncart may request proof of purchase, supply chain documentation, batch information, or any other evidence necessary to establish the legitimacy of the inventory. Failure to demonstrate authenticity may result in delisting of products, suspension of the Seller account, or penalties as prescribed under the Seller Penalty & Enforcement Policy.
High-Risk Product Categories
Certain product categories such as electronics, cosmetics, food items, baby products, medical devices, supplements, or safety-sensitive items, may require additional compliance documentation, including regulatory certifications, safety approvals, BIS or FSSAI licences, or batch and expiry information. Sellers must ensure that such documents remain valid and always updated. Booncart may decline to onboard Sellers or delist products that do not meet these regulatory or safety standards.
Fraud Prevention and Risk Monitoring
Booncart employs specialised systems to detect fraud, prevent misuse of the Platform, and monitor potential risks. If a Seller exhibits patterns indicative of fraudulent behaviour including abnormal order activity, repeated return claims associated with Seller fault, suspicious product sourcing, or inconsistencies in identity or documentation, Booncart may initiate an investigation and require the Seller to undergo additional verification. During such investigations, Booncart may suspend listings, freeze payouts, restrict account functions, or take any action necessary to protect customers and the integrity of the Platform.
Impact of Non-Compliance on Payouts and Account Status
Sellers must complete KYC verification to receive settlements from Booncart. If documents are incomplete, inaccurate, expired, inconsistent, or under review, Booncart may freeze settlements until verification is successfully completed. Payouts may also be withheld when compliance doubts arise, during active investigations, or when verification reveals mismatches between bank account details and the registered business entity. Persistent non-compliance may lead to suspension or permanent deactivation of the Seller account.
Data Security and Confidentiality:
All information and documents collected during the KYC and verification process are processed and stored in accordance with applicable data protection laws and Booncart’s Privacy Policy. Access to KYC data is restricted to authorised personnel and service providers engaged in verification activities. Booncart is committed to safeguarding the confidentiality and security of Seller information and does not disclose such information except as required for legal compliance, fraud prevention, risk assessment, or enforcement of Platform policies.
Amendments to the Policy:
Booncart reserves the right to modify, update, or revise this Policy at any time in response to legal requirements, operational changes, or security needs. Any updates will be published on the Platform and continued use of the Platform after such updates constitutes acceptance of the revised Policy.
