Watch Match Transaction Service Terms

1. Scope and Relationship with Other Documents

• These Transaction Service Terms (the “Terms”) apply to any person who uses the WM website, mobile application or related service interface (collectively, the “WM Platform”) to submit or respond to an Offer, create an Order, pay a fee, complete authentication and handover, or participate in a related cancellation, refund or dispute process.
• These Terms apply to both Buyers and Sellers. “Seller” includes a Merchant that has passed WM merchant verification and a Private Seller, unless expressly stated otherwise.
• These Terms supplement the Platform Terms of Use and Merchant and Private Seller Terms. Authentication, case opening, reports, reviews, custody of a watch and handover liability are separately governed by the Authentication and Handover Service Schedule.
• If the relevant documents are inconsistent:
• the specific product, price, fees and transaction arrangements clearly displayed and accepted before confirmation of an individual Order prevail for that Order;
• the Authentication and Handover Service Schedule prevails for authentication and handover matters expressly governed by it;
• these Terms prevail for Offers, product locking, checkout, payments, cancellations, refunds and transaction-responsibility reviews; and
• all other matters are governed by the Platform Terms of Use and Merchant and Private Seller Terms.
• Nothing in these Terms reduces any right that cannot be excluded or restricted under applicable law.

2. Key Definitions

• “Offer” means a purchase price and related transaction terms proposed by a Buyer for a specified product through the WM Platform.
• “Counteroffer” means a new price or set of terms proposed through the WM Platform by a Seller or Buyer in response to the other party.
• “Transaction Price” means the price for the watch accepted by the Buyer and Seller through the WM Platform, excluding any separately stated Authentication Fee or other charge.
• “Commitment Fee” means the amount paid by the Buyer to WM at Checkout, as stated on the Order page. It must not be described as a “deposit”, “escrow” or by any other term suggesting that WM holds the entire transaction amount.
• “Platform Fee” means the portion of the total Commitment Fee currently equal to 1% of the Transaction Price, charged by WM as stated in these Terms and on the Order page.
• “Pre-Order Commitment Fee Balance” means the balance of the total Commitment Fee for a Pre-Order Product after deducting the 1% Platform Fee.
• “Authentication Fee” means the fee paid by the Buyer to WM for the specified watch-authentication service.
• “Watch Balance” means the balance of the Transaction Price after deducting the total Commitment Fee, payable directly by the Buyer to the Seller in accordance with the Order arrangements.
• “In-Stock Product” and “Pre-Order Product” have the meanings given in the Merchant and Private Seller Terms.
• “Business Day” means Monday to Friday, excluding Hong Kong public holidays and any day on which the relevant WM service location ceases normal operations because of a Black Rainstorm Warning, Tropical Cyclone Warning Signal No. 8 or above, or another relevant event.

3. Submitting, Revising and Cancelling Offers

• Before submitting an Offer or Counteroffer, a User should check the product, Seller, price, currency, whether the product is In-Stock or Pre-Order, authentication options, handover arrangements and other material information.
• Submission of an Offer does not reserve the product and the Seller is not required to accept it. Until acceptance, other Users may submit Offers or transact with the Seller.
• A User may cancel or revise an Offer or Counteroffer before acceptance using the functions then available on the WM Platform. If an expiry period applies, it will be displayed on the WM Platform.
• A Seller may accept, reject or make a Counteroffer. A Buyer may accept or reject the Seller’s Counteroffer. A new Counteroffer replaces that party’s previous unaccepted price proposal unless the WM Platform expressly displays otherwise.
• A User must not use false accounts, connected persons, Offers without genuine intent to transact or any other means to manipulate prices, fabricate transaction records or interfere with another User’s transaction.

4. Acceptance and Product Locking

• Once the Seller accepts the Buyer’s Offer, or the Buyer accepts the Seller’s Counteroffer, a confirmed transaction arrangement is formed. Both parties must follow the Checkout, authentication, payment and handover process displayed on the WM Platform.
• The product is locked immediately upon acceptance. The Seller must reserve it for the Order and must not sell, transfer or promise it to another person.
• Each listing corresponds to one specified watch. Multiple watches of the same model must be listed separately, so duplicate accepted Orders should not arise for the same product in the ordinary process.
• Product locking does not mean that WM guarantees completion of the transaction, successful authentication or performance by either party.
• The product is unlocked only after the Order is formally cancelled. An overdue, review, refund or dispute status does not automatically unlock it.

5. Checkout and Payment Confirmation

• Within 24 hours after an Offer or Counteroffer is accepted, the Buyer must complete Checkout, select or confirm the applicable authentication and handover arrangements, and pay the Commitment Fee and Authentication Fee stated on the Order page.
• Before payment, the Buyer must check:
• the Transaction Price and currency;
• whether the product is In-Stock or Pre-Order;
• the Commitment Fee, the Platform Fee included in it and any applicable Pre-Order Commitment Fee Balance;
• the Authentication Fee and whether case opening is requested;
• the estimated Watch Balance and its payee;
• the handover method and location; and
• the cancellation and refund rules.
• By confirming and paying, the Buyer accepts the transaction and fee arrangements stated on the Order page, without prejudice to any right that cannot lawfully be excluded.
• WM may use a third-party payment service provider to process Commitment Fees, Authentication Fees and refunds. Users must provide valid payment information and complete any reasonable verification required by that provider.
• Supported payment methods and any payment-processing fee will be displayed on the Order or payment page before payment. WM will not subsequently charge a payment-processing fee that was not clearly disclosed before payment.
• Payment is complete only when confirmed successful by WM or the relevant payment service provider. A display that payment has been submitted or is processing, or receipt of payment evidence, does not mean final settlement. WM may suspend subsequent steps pending confirmation.

6. Commitment Fee for In-Stock Products

• The Commitment Fee for an In-Stock Product is currently 1% of the Transaction Price, paid by the Buyer to WM at Checkout as the WM Platform Fee.
• Unless clearly stated otherwise on the Order page, the 1% is accounted for within the allocation of the Transaction Price and does not increase the watch price. For example, for a Transaction Price of HK$100,000, the Buyer pays a HK$1,000 Commitment Fee to WM and a HK$99,000 Watch Balance to the Seller in accordance with the Order. The Authentication Fee is separate.
• On normal completion of the transaction, the 1% Platform Fee is not refunded to the Buyer or transferred to the Seller.
• If the Order is cancelled, refund of the Commitment Fee is governed by the responsibility classification and refund rules in section 13.

7. Commitment Fee for Pre-Order Products

• Only a Merchant that has passed WM merchant verification may list a Pre-Order Product and set its Commitment Fee. A Private Seller may not list a Pre-Order Product.
• When listing a Pre-Order Product, the Merchant may set the total Commitment Fee percentage within the range permitted by WM. It must be at least 1% and must not exceed 30% of the Transaction Price.
• The total percentage set by the Merchant includes the WM Platform Fee currently equal to 1% of the Transaction Price. That 1% is not charged in addition to the selected percentage.
• After deducting the 1% Platform Fee, the Pre-Order Commitment Fee Balance forms part of the Transaction Price. WM will not release it to the Merchant before completion.
• WM may mark the Order “Transaction Completed” based on confirmation by both parties, records from the WM Handover Centre or other reliable evidence of delivery and payment.
• Following normal completion, WM will settle the Pre-Order Commitment Fee Balance to the Merchant within three Business Days starting from the next Business Day after the Order is marked “Transaction Completed”. If settlement cannot be completed because of incorrect recipient information supplied by the Merchant, bank or payment-provider processing, system failure, or another cause not arising from WM’s unreasonable delay, WM may request corrected or additional information and reschedule settlement within a reasonable time after the issue is resolved. A resulting difference in the time of receipt is not late settlement by WM.
• If completion information is insufficient or inconsistent, or a dispute exists, WM may withhold the “Transaction Completed” status and settlement until reasonable verification is complete.
• If a Pre-Order transaction is cancelled or disputed, WM may withhold a refund or allocation of the Pre-Order Commitment Fee Balance pending reasonable review under sections 13 and 14.
• Before paying the Commitment Fee and Authentication Fee for a Pre-Order Product, the Buyer must confirm the expected arrival or delivery time directly with the Merchant and independently assess whether it is acceptable. The parties should, where practicable, retain the confirmation through the WM Platform.
• The estimated delivery period shown in a listing is a reference for the Buyer and Merchant when confirming arrangements before payment. A delivery date or period otherwise clearly agreed before payment prevails as evidence for review of that Order.
• After payment, a Pre-Order Product does not automatically become overdue or cancel merely because the estimated delivery period shown in the listing expires.
• The Merchant must proactively update the Buyer on the Pre-Order and arrival status and promptly notify the Buyer of a material change to timing, supply or delivery. WM does not proactively track procurement, supply, arrival or delivery for each Pre-Order. A party requesting WM’s assistance must contact WM and provide relevant information.

8. Authentication Fee

• The Authentication Fee is paid by the Buyer and calculated at 2% of the Transaction Price for each watch, subject to a minimum of HK$1,500 and a maximum of HK$5,000. The same calculation applies to In-Stock and Pre-Order Products.
• The Authentication Fee is paid together with the Commitment Fee at Checkout unless the Order page clearly states otherwise.
• Authentication is performed by the independent professional authentication organisation disclosed by WM at the relevant time. The inspection scope, case-opening authorisation, report, review and related liability are governed by the Authentication and Handover Service Schedule.
• Refunds of the Authentication Fee are governed by section 13. A refund to the Buyer does not prevent WM from recovering from a responsible Seller all or part of a reasonable Authentication Fee actually incurred.

9. Watch Balance

• Unless the Order page expressly states otherwise, the Buyer pays the Watch Balance directly to the Seller. WM does not collect it.
• WM does not provide Escrow, Secure Escrow or custodial payment services. Users must not understand or describe WM’s collection of the Commitment Fee or Authentication Fee as WM holding the entire transaction amount.
• Before handover, the parties should agree on the Watch Balance payment method. The Buyer must check transfer limits, account settings, payment timing and required verification in advance. Before delivering the watch, the Seller must independently confirm with its bank or payment service provider that the funds have finally and irrevocably cleared.
• WM may help display payment arrangements and record the parties’ confirmations, but does not guarantee that a transfer screenshot, proof of payment or payment status submitted by the Buyer is genuine, that funds cannot be reversed, or that the payment instrument is free from fraud.
• The parties bear all bank, payment-instrument, exchange-rate, transfer, tax and other charges arising from their chosen Watch Balance arrangement, unless clearly stated otherwise on the Order page.

10. Order Deadlines and Overdue Status

• Unless clearly stated otherwise on the Order page, each of the following must be completed within 24 hours after the relevant WM Platform notice:
• the Buyer completes Checkout;
• the Seller completes the authentication-delivery booking;
• the Buyer completes the handover booking; and
• the Seller completes the handover booking.
• If a party misses an applicable deadline, the Order enters “Order Overdue” status but is not automatically cancelled.
• WM or Handover Centre personnel may contact the relevant person and, according to the circumstances, restore the process, require completion within a reasonable period, reschedule or manually cancel the Order.
• Failure to attend or complete a booked authentication delivery or handover likewise places the Order in “Order Overdue” status. WM or Handover Centre personnel will determine whether to reschedule or cancel.
• The product is unlocked and inventory released only after cancellation. If either party is responsible, refunds, fees and compensation are governed by sections 13 and 14.
• A User unable to complete a step because of a WM system failure, an event beyond reasonable control or another cause not attributable to that User should promptly notify WM and provide reasonable information. WM may extend the deadline or provide an alternative process.
• The overdue mechanism is not automatically triggered by expiry of the estimated delivery period shown for a Pre-Order Product. Pre-Order progress and delay are handled under section 7 and according to the particular case.

11. Cooperation with Authentication and the Transaction

• The Buyer may select authentication and case opening at Checkout. The Seller must confirm the arrangements in accordance with the Authentication and Handover Service Schedule and the platform process.
• At the designated time, the Seller must deliver the watch corresponding to the listing, together with its accessories, to the designated location and complete the delivery and required authorisations. The booking deadline is governed by section 10.
• If the Seller refuses a confirmed reasonable inspection, fails to deliver on time, submits a different watch, or the physical watch materially differs from the listing, WM may suspend or cancel the transaction. The authentication outcome, refund and responsibility are governed by these Terms and the Authentication and Handover Service Schedule.

12. Handover and Completion

• Transactions should generally be completed at a WM Handover Centre. Handover booking and overdue arrangements are governed by section 10; onsite handover and custody details are governed by the Authentication and Handover Service Schedule.
• If the parties complete handover at the Seller’s shop or another location through a process permitted by WM, the onsite support, identity checks, handover records and CCTV protection of the WM Handover Centre do not apply.
• The parties must complete handover in accordance with the confirmed time, location, watch, accessories, identity-verification and payment arrangements. Before delivery, the Seller must independently confirm receipt of the Watch Balance.
• WM may mark an Order “Transaction Completed” based on the parties’ confirmation, Handover Centre records or other reliable evidence. Physical-product issues, report objections and custody claims are governed by the Authentication and Handover Service Schedule.

13. Cancellation and Refund Rules

13.1 Cancellation Due to Seller Responsibility

• If a transaction is cancelled for a reason attributable to the Seller, WM will refund to the Buyer the full Commitment Fee and Authentication Fee paid.
• Seller Responsibility includes, without limitation:
• the product has been sold, is unavailable or the Seller has no right to deliver it;
• the Seller entered an incorrect product price, currency, inventory status or other material information;
• without reasonable cause, the Seller refuses confirmed authentication, case opening, delivery for authentication or handover arrangements;
• the Seller fails to deliver for authentication or handover on time, becomes uncontactable or fails to attend handover;
• the product does not pass authentication, is an assembled watch, or materially differs from the listing;
• the Seller requires the Buyer to pay an undisclosed fee or accept a new, unagreed condition; or
• the transaction cannot reasonably be completed because of another act or failure to perform by the Seller.
• If authentication has actually been carried out, WM may require the Seller to bear all or part of the reasonable Authentication Fee incurred, having regard to the reason for cancellation, authentication result and Seller Responsibility.
• Exceeding the estimated delivery period displayed in a Pre-Order listing is not by itself an automatic Merchant default. Responsibility for delay will be assessed having regard to the delivery time confirmed with the Merchant before payment, whether timely updates were provided, the cause of delay, subsequent agreements and other relevant evidence.

13.2 Cancellation Due to Buyer Responsibility

• If a transaction is cancelled for a reason attributable to the Buyer, the 1% Platform Fee and Authentication Fee paid are not refundable, unless an individual Order expressly provides a more favourable arrangement for the Buyer.
• Buyer Responsibility includes, without limitation:
• requesting cancellation of a confirmed transaction without reasonable cause;
• failing to complete Checkout, payment, a booking or handover within a reasonable period;
• failing to pay the Watch Balance as confirmed;
• becoming uncontactable, failing to attend handover or expressly refusing to continue the transaction; or
• the transaction cannot reasonably be completed because of another act or failure to perform by the Buyer.
• For an In-Stock Product, the 1% Commitment Fee is not refundable unless WM offers a more favourable arrangement in the particular case.
• For a Pre-Order Product, WM may allocate reasonable compensation to the Merchant from the Pre-Order Commitment Fee Balance for direct loss that the Merchant can reasonably prove and for which it has not otherwise been compensated. Any remaining balance will be refunded to the Buyer. The Merchant does not automatically receive the entire balance.

13.3 Cancellation for Reasons Not Attributable to Either Party

• If a transaction is cancelled because of an event beyond reasonable control, a legal restriction, inability of the WM Platform or service to continue the arrangement, or another cause not attributable to either party, WM will refund the entire Commitment Fee, including the 1% Platform Fee, to the Buyer. No Pre-Order Commitment Fee Balance will be allocated to the Merchant.
• If authentication has not started, the Authentication Fee will be refunded in full. If it has started or been completed, it is generally non-refundable. WM may provide a more favourable refund arrangement according to the circumstances.

13.4 Refund Method and Timing

• A refund will generally be made to the original payment method. If this is not possible, or law or a payment service provider requires otherwise, WM may use another method following reasonable verification.
• WM will arrange the refund within a reasonable time after completing its responsibility review and receiving the necessary refund information. WM does not control the actual posting time of a bank, card issuer or payment service provider.
• The User must provide accurate and complete refund information and cooperate with reasonable verification. Delay caused by incorrect User information, failure to respond to verification or third-party processing is not unreasonable delay by WM.
• A User may not recover twice for the same loss through a refund, payment dispute, insurance proceeds or other third-party compensation.

14. Responsibility Review and Allocation for Pre-Orders

• If a Pre-Order transaction is cancelled, or responsibility and allocation are disputed, WM may withhold refund or allocation of the Pre-Order Commitment Fee Balance pending reasonable review.
• The Buyer and Merchant must provide relevant information within a reasonable period specified by WM, including:
• the listing and Order information;
• platform communications and confirmed arrangements;
• procurement, ordering or sourcing commitments;
• payment and refund records;
• expected and actual delivery arrangements confirmed before payment;
• reasons for cancellation, delay or non-performance;
• direct loss actually incurred and steps taken to mitigate it;
• third-party compensation received or available; and
• other relevant evidence reasonably requested by WM.
• WM may consider whether the parties performed the confirmed arrangements, the reason for cancellation or delay, accuracy of listing and delivery information, notice and cooperation, provable procurement commitments, actual and reasonable direct loss, mitigation and third-party compensation.
• After giving both parties a reasonable opportunity to provide information, WM may refund all or part of the balance to the Buyer, allocate it as compensation to the Merchant, divide it between the parties, or continue withholding it for as long as reasonably required.
• Merchant compensation must not exceed the Pre-Order Commitment Fee Balance and must be proportionate to direct loss reasonably proved and not otherwise compensated. A Merchant does not automatically receive funds merely because the Buyer cancels or the Merchant makes a request.
• WM will notify both parties of the outcome and principal reasons. This is an internal transaction and payment review, not formal arbitration under the Arbitration Ordinance (Cap. 609 of the Laws of Hong Kong), and does not prevent either party from seeking assistance from a court, regulator or other lawfully established dispute-resolution body.

15. Manifest Pricing and Information Errors

• If the product price, currency or other material pricing information contains a manifest error that a reasonable person could identify, WM may suspend or cancel the Order and will not compel the Seller to transact at the manifestly erroneous price.
• All amounts paid by the Buyer to WM will be refunded in full.
• If the error was caused by the Seller’s entry or operation, it is treated as Seller Responsibility. WM may require the Seller to bear reasonable authentication, payment or other direct costs incurred and may restrict listing or transaction functions for repeated errors.
• If the error was caused by a WM system, it is not attributed to either party and the cancellation is handled accordingly.
• Normal market fluctuation, subsequent regret or a view that the accepted price is unattractive cannot be treated as a manifest pricing error.

16. Payment Disputes, Reversals and Chargebacks

• A User who believes a payment was unauthorised, the amount was incorrect or the service is disputed should promptly provide information through WM customer support for investigation.
• A payment reversal, card chargeback or third-party payment dispute does not automatically cancel the Order or determine responsibility. WM may suspend the transaction, refund or relevant account functions pending reasonable review.
• If payment fails, is reversed or charged back, WM may suspend the Order and services and require the Buyer to complete or restore payment within a specified reasonable period. Buyer Responsibility is determined according to the cause and evidence and is not automatic in every case.
• A User must not use a false, duplicate or malicious payment dispute to avoid a confirmed fee or transaction obligation. This does not restrict a User’s right to make a claim to a payment provider regarding an unauthorised payment or other right available by law.
• A User receiving funds from WM, a bank, payment provider, insurer or other third party for the same matter must notify WM. No party may receive duplicate compensation for the same loss.

17. Transaction Records and Notices

• WM may retain records relating to Offers, Counteroffers, product locking, Orders, payments, refunds, platform communications, authentication, handover, responsibility reviews and disputes in accordance with the Privacy Policy and applicable law.
• In the absence of manifest error or reliable evidence to the contrary, WM Platform records may be used as evidence of the process, notices, User actions and payment status, without preventing any party from submitting other reasonable evidence.
• WM may send Order notices through platform notifications, the account inbox, registered email address, telephone, SMS or another reasonable channel. Users must keep contact information current and review notices regularly.
• Missing a deadline because the User failed to update contact details, blocked notices or did not reasonably review a delivered message does not automatically excuse responsibility, except in the case of a widespread WM system or communications-service failure.

18. WM’s Role and Limits of Responsibility

• Unless a listing or Order expressly identifies WM as Seller, the watch contract is generally between Buyer and Seller. WM provides the transaction process, fees, records, responsibility review, authentication coordination and handover arrangements, but does not thereby become either party’s agent, partner or trustee.
• WM does not guarantee User performance, successful authentication, successful payment of the Watch Balance or completion of a transaction.
• WM must reasonably process amounts it actually receives, refunds and responsibility reviews in accordance with these Terms and applicable law. WM does not avoid liability imposed by law merely because it uses a third-party payment or other service provider.
• General platform responsibility is governed by the Platform Terms of Use; product and Seller responsibility by the Merchant and Private Seller Terms; and authentication, custody and handover responsibility by the Authentication and Handover Service Schedule.
• A limitation of liability applies only to the extent permitted by applicable law and relevant reasonableness requirements. It does not exclude liability for fraud or wilful misconduct, death or personal injury caused by negligence, or any other liability that cannot lawfully be excluded or limited.

19. Events Beyond Reasonable Control

• A party is not in breach to the extent that performance is delayed or temporarily prevented by an event beyond its reasonable control, including natural disaster, fire, flood, government action, public transport disruption, public-health event, civil disorder, or widespread system, electricity, network or communications failure.
• The affected party must, where reasonably practicable, notify WM promptly, provide reasonable information and take steps to reduce the impact.
• WM may reasonably extend deadlines, reschedule the process or cancel an Order that cannot continue. Funds are handled under section 13 after cancellation.

20. Amendments and Severability

• WM may amend these Terms for service, operational, risk or legal reasons and publish the update through the WM Platform, account notice, email or another reasonable method.
• WM will, where reasonably practicable, give advance notice of an amendment that materially affects Users’ rights or obligations. An amendment will generally not retrospectively alter the substantive fees, refunds or transaction arrangements of a confirmed Order, except where required by law or urgently required to protect Users.
• If any part of these Terms is held invalid, unenforceable or subject to a limiting interpretation, the remaining provisions continue in effect.
• WM’s failure to exercise a right immediately is not a waiver of that right.

21. Governing Law and Dispute Resolution

• These Terms are governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.
• If a dispute arises between a User and WM, the parties should first submit relevant information through WM customer support or another designated channel and attempt in good faith to resolve it within a reasonable period.
• If the dispute is not resolved through negotiation, either party may submit it to a court of competent jurisdiction in the Hong Kong Special Administrative Region.
• This clause does not restrict either party from making a complaint to or seeking assistance from a law-enforcement agency, regulator or other lawfully established dispute-resolution body.

22. Contact Us

For enquiries about a transaction, payment, refund or these Terms, please contact:

• Email: admin@watchmatch.ai
• WhatsApp / Telephone: +852 5990 4888