Legal &
Policies

What Waziv Is

Waziv operates a bid–ask exchange for live event tickets. Our initial market is Capital One Arena, covering Washington Capitals and Wizards games. Waziv is a marketplace platform — we facilitate transactions between Buyers and Sellers but are not a party to any ticket sale. We operate under Stripe Connect's standard delayed-payout settlement model. Waziv is not an escrow service, money transmitter, or fiduciary, and does not hold funds in trust.

Who Can Use Waziv

• You must be at least 18 years old.
• You must reside in the United States.
• You must provide accurate and current information when creating an account.
• You are responsible for maintaining your login credentials and all activity under your account.

How Buying Works

Post a Bid — the price you're willing to pay for a specific section, row, and quantity. Your Bid is visible on the live order book. When your Bid meets or exceeds a Seller's Ask, a Match occurs and an Order is created. At the moment of Match, your payment method is charged the full Order amount, which includes the ticket value plus the Marketplace Fee. Orders are binding once Matched and cannot be cancelled by you except as described in the Cancellation section below.

How Selling Works

Post an Ask — the price you'll accept for tickets you possess. To activate your listing and make it visible to Buyers, a 30% authorization hold (the Penalty Pre-authorization) is placed on your payment method. This is a hold, not a charge — no funds leave your account at listing. When your Ask Matches a Buyer's Bid, the Order is binding. You must transfer the tickets to the Buyer by the Transfer Deadline. Sellers are paid via Stripe Connect 8 calendar days after the event ends, conditional on no open disputes. Waziv does not hold funds in trust or act as a fiduciary; funds are processed through the Waziv platform balance via Stripe Connect.

Marketplace Fee

Waziv charges a single transparent fee called the Marketplace Fee. The buyer-side fee is currently 12% of Order Value, with a $2.00 minimum per Order. The seller-side fee is currently 0% at launch. Fees may be adjusted from time to time; any change applies only to new Orders created after the change takes effect. The total price shown to Buyers always includes the Marketplace Fee — no hidden charges at checkout.

Disputes

If you believe your tickets were not transferred or were materially defective, you may file a Buyer Claim from the time of Match through 2 hours after event start. The Seller has 24 hours to respond with evidence of delivery. A Waziv administrator may resolve the claim within 48 hours. If no administrator action is taken within that window, the claim is automatically resolved in the Seller's favor — no refund is issued and no penalty is captured on a default Seller resolution.

If the claim is resolved in your favor, you receive a full refund of the Order amount including the Marketplace Fee.

Cancellations & Postponements

• Cancelled events: If an event is cancelled and not rescheduled before Seller payout is released, Buyers receive a full refund and Seller penalty holds are released without capture.
• Postponed or rescheduled events: Original tickets transfer to the rescheduled date. No refund is issued. Settlement timestamps are recalculated based on the new event date.
• Contingent events (such as playoff games not played due to elimination) are treated as cancelled.

Chargebacks

Filing a chargeback with your card issuer does not waive these Terms. If a chargeback is filed against an Order where the Seller delivered successfully, Waziv may set off the chargeback amount against any pending payout and may pursue the Buyer for any resulting deficiency. Sellers bear liability for chargebacks resulting from their own failure or breach.

Prohibited Conduct

• Posting Bids or Asks you don't intend to fulfill.
• Speculative listings — listing tickets you don't currently possess.
• Listing the same tickets simultaneously on another platform.
• Misrepresenting section, row, quantity, or any material detail.
• Using bots or automated tools except through documented APIs.
• Conducting off-platform transactions after a Match.
• Market manipulation, including coordinated bidding or wash trading.

Limitation of Liability

Waziv's total liability for any claim is limited to the Order amount and Marketplace Fee paid in the Order at issue. Waziv is not liable for indirect, incidental, consequential, or punitive damages, including lost profits, travel expenses, or substitute ticket costs.

Arbitration & Governing Law

Disputes are resolved by individual binding arbitration under AAA Consumer Arbitration Rules. A class action waiver applies — you and Waziv each waive the right to bring or participate in any class proceeding. You may opt out of arbitration by sending written notice within 30 days of first accepting these Terms. These Terms are governed by the laws of Delaware.

Modifications

We may update these Terms from time to time. Material changes will be communicated by posted notice and email. Continued use after the effective date of an update constitutes acceptance.

What We Collect

Directly from you: Account information (name, email, phone, password), profile information, transaction information (Bids, Asks, Orders, transaction history), payment information (tokenized references only — full card numbers and bank details are handled by Stripe and never stored on Waziv servers), Seller identity verification (collected through Stripe Connect for KYC, not stored on Waziv servers), and communications.

Automatically: Device information (IP address, device type, OS, browser), usage information (pages viewed, features used, timestamps), and cookies.

From other sources: Stripe (KYC verification results, payout status, refund and chargeback events), fraud-prevention providers, and event data sources used to populate listings.

How We Use It

• Create and manage your account and process transactions.
• Hold Buyer payments in the Stripe Connect platform balance and release Seller payouts per the Terms of Service.
• Detect, investigate, and prevent fraud and abuse.
• Send transactional communications (Order confirmations, payout notices, dispute notices).
• Send marketing communications where permitted — you may opt out at any time.
• Comply with legal obligations, including tax reporting and anti-money-laundering rules.
• Improve and develop the Marketplace.

How We Share It

• Stripe — for payment processing, payouts, refunds, and KYC.
• Transaction counterparty — only information necessary to complete the ticket transfer (e.g., Buyer's transfer destination). Buyers are not given Sellers' full identity.
• Service providers — cloud hosting, email delivery, analytics, customer support, and fraud prevention, under data-processing agreements.
• Legal compliance — responses to subpoenas, court orders, or lawful requests.
• Corporate transactions — mergers, acquisitions, or asset sales, where the recipient is bound by terms at least as protective as this Policy.

Cookies

We use cookies to operate the Marketplace, remember preferences, secure sessions, and measure usage. You can control cookies through your browser settings. We honor Global Privacy Control (GPC) signals as a valid opt-out of sharing for behavioral advertising purposes.

Your Rights

Depending on where you reside, you may have the right to: know what personal information we hold about you; access a copy in a portable format; correct inaccurate information; delete information (subject to legal exceptions); opt out of the sale or sharing of personal information; limit use of sensitive personal information; and be free from discrimination for exercising these rights.

These rights are available to residents of California, Colorado, Connecticut, Delaware, Indiana, Iowa, Kentucky, Maryland, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, Oregon, Rhode Island, Tennessee, Texas, Utah, and Virginia. To exercise any right, contact info@waziv.com.

Children

The Marketplace is not directed to children under 13 and no one under 18 may use Waziv. If we learn we've collected information from a child under 13, we will delete it promptly.

SMS & Email

If you opt into SMS, you consent to receive automated transactional messages. Message and data rates may apply. Reply STOP to opt out, HELP for assistance. You may unsubscribe from marketing emails via the link in any marketing message. Transactional emails cannot be opted out of without closing your account.

Security

We use TLS encryption in transit, encryption at rest, role-based access controls, and Stripe Connect for sensitive payment data. No system can guarantee perfect security.

Changes

We may update this Policy from time to time. Material changes will be communicated by posted notice and email. Contact us at info@waziv.com or Waziv, Inc., P.O. Box 6753, Annapolis, MD 21401.

Who Can Sell

• You must be at least 18 years old and a US resident.
• You must have a valid US bank account linked through Stripe Connect Express.
• You must complete identity verification (KYC) through Stripe.
• You must maintain a valid payment method on file for the Penalty Pre-authorization.
• You must not be subject to any prior suspension from the Marketplace.

Listing Requirements

When you post an Ask, you represent and warrant that:

• You have lawful possession of the tickets at the time of listing. Speculative listings are prohibited.
• The section, row, quantity, and Ask price you specify are accurate.
• The tickets are valid, unrestricted, and you are entitled to transfer them.
• You have not listed the same tickets on any other platform while your Waziv listing is active.
• Your listing complies with all applicable laws, including state ticket-resale statutes.

Listing Activation & the 30% Hold

When you activate a listing, Waziv places a Penalty Pre-authorization equal to 30% of (Ask Price × Quantity) on your payment method. This is an authorization hold — not a charge. No funds leave your account when the hold is placed. Your listing will not appear on the public order book until the hold succeeds.

Authorization holds typically expire after approximately 7 days per card-network rules. By accepting this Agreement, you authorize Waziv to automatically re-authorize the hold on any active listing. If a re-authorization fails, your listing is automatically deactivated until you restore a valid payment method.

Match Creates a Binding Order

Once a Buyer's Bid matches your Ask, an Order is created. The Order is binding on you immediately and cannot be cancelled by you.

Transfer Obligations

• Standard deadline: When Match occurs more than 2 hours before event start — you must complete a Successful Transfer within 24 hours of Match.
• Urgent deadline: When Match occurs 2 hours or less before event start — you must complete transfer within 10 minutes of Match (5-minute grace period applies).

A Successful Transfer means confirmation by a recognized ticket provider that the tickets have reached the Buyer's designated destination. Failure to meet the Transfer Deadline triggers the Penalty Policy.

Penalty

On a confirmed Seller breach, 15% of (Ask Price × Quantity) is credited to the Buyer as compensation and 15% is retained by Waziv. The Buyer is also refunded their full Order amount separately. See the Penalty Policy for full details. On a default Seller resolution (administrator inaction at 48 hours), no portion of your Pre-authorization is captured.

Payout

Your payout is released via Stripe Connect 8 calendar days after the event ends, provided no Buyer Claim is open, no chargeback is pending, and your account is in good standing. Funds are processed through the Waziv platform balance via Stripe Connect. Waziv does not hold funds in trust or act as a fiduciary.

Disputes

If a Buyer files a claim, you have 24 hours to submit evidence of Successful Transfer. If you don't respond, the claim is treated as a confirmed breach. If you respond, a Waziv administrator may resolve within 48 hours; absent administrator action, the claim resolves in your favor by default.

Chargebacks

You bear liability for chargebacks resulting from your failure or breach. Waziv may set off chargeback amounts against pending payouts or charge the payment method on file. If a chargeback results from buyer fraud rather than your failure, Waziv will work in good faith to recover funds.

Suspension & Termination

A confirmed Seller breach results in automatic account suspension. Other grounds for suspension or termination include repeated breaches, material misrepresentation, fraud, failure to maintain Penalty Pre-authorization capability, and material breach of these Terms.

Taxes

You are solely responsible for all federal, state, and local taxes on your sales. Stripe issues Form 1099-K in accordance with IRS thresholds. Waziv does not provide tax advice.

Stripe Connect

Your use of Stripe Connect is also governed by the Stripe Connected Account Agreement, which you accept during Stripe Connect Express onboarding.

What the Penalty Is

When a Seller activates a listing, Waziv places a Penalty Pre-authorization equal to 30% of (Ask Price × Quantity) on the Seller's payment method. This is an authorization hold — not a charge. The hold reduces available credit but does not move money. No listing goes live on the order book without an active hold.

Re-authorization

Card-network rules typically expire authorization holds after approximately 7 days. For active listings, Waziv may re-authorize automatically. By accepting the Seller Agreement, Sellers consent to automatic re-authorization. If re-authorization fails, the listing is automatically deactivated until a valid payment method is restored.

When the Hold Is Captured

A Penalty Capture occurs only under the following conditions — no others:

• Seller non-response: The Seller fails to respond to a Buyer Claim within 24 hours of filing.
• Admin-confirmed breach: A Waziv administrator confirms a Seller breach within the 48-hour administrative resolution window.
• Frozen account at breach confirmation: The Seller's account is frozen at the time breach is confirmed.

This list is exhaustive. No other event triggers a capture.

How Capture Is Allocated

When a capture is triggered:

• Buyer refund (independent): The Buyer is refunded the full Order amount from their original payment. This refund is separate from the captured penalty.
• 15% to Buyer: An additional amount equal to 15% of (Ask Price × Quantity) is credited to the Buyer as compensation.
• 15% to Waziv: An amount equal to 15% of (Ask Price × Quantity) is retained by Waziv to cover operational costs.

Captures are all-or-nothing per Order. Partial captures do not occur.

When the Hold Is Released (No Capture)

• Seller completes a Successful Transfer by the Transfer Deadline.
• Seller cancels the listing before a Match.
• Listing expires unmatched.
• Default Seller resolution — administrator inaction at 48 hours; the claim resolves in the Seller's favor.
• Administrator confirms Seller delivered the tickets.
• Event is cancelled.

Disputing a Capture

If you believe a Penalty Capture occurred in error, you may submit a dispute through Waziv support within 7 days of the capture. Include the Order ID, evidence of Successful Transfer, and a description of the basis for your dispute. Resolution of a capture dispute is final.

Modifications

Changes to this Policy apply only to listings activated after the change's effective date. Capture mechanics for listings already active at the time of a modification are not subject to retroactive change.

For privacy requests, support inquiries, legal notices, and general questions, please use the contact information below. Email is the primary channel during our pre-launch period.