Terms of Service

1. What Lotzo is

Lotzo is a marketplace. Sellers list their own used items, buyers bid on them, and the winner picks the item up in person. Lotzo isn't the seller of any item; the sale is between the buyer and the seller. We run the auction, hold the payment through our payment provider (Stripe) until the handover, and decide disputes.

2. Your account

• You must be able to form a binding contract, and the information you give us must be accurate.
• You need a confirmed email to sign in, and a verified Canadian mobile number to bid or sell.
• One person per account. Keep your password private; you're responsible for activity on your account.

3. Listing an item

• You must own the item and be able to hand it over at the pickup area you choose.
• Describe it honestly, including known flaws. If AI drafts your listing, you're responsible for checking and correcting it.
• You can edit a listing until someone bids. After that you can only add photos and flaws, lower the lowest price you'll accept, and change pickup times; nothing can change in the last hour. Every change is recorded.
• The lowest price you'll accept is never shown to buyers. If the auction ends below it, the item doesn't sell and nobody is charged.
• These items aren't allowed, and we remove listings for them:
  • Weapons and firearms
  • Recalled products
  • Stolen goods
  • Alcohol
  • Drugs
  • Anything else that's illegal to sell in Canada

4. Bidding

• A bid is a commitment to buy at that price if you win. Bids can't be withdrawn, with one exception: if the seller adds a flaw to the listing after your last bid, you may withdraw.
• You need a saved card to bid. A bid in the last 2 minutes extends the auction by 2 minutes.
• Bidding on your own items, or arranging bids to push the price up, isn't allowed.

5. Winning and paying

• When you win, your saved card is charged the winning bid plus the 10% buyer premium.
• If the charge fails, you have 24 hours to pay from the order page. If you don't, the order is cancelled and the seller can sell the item again.
• 2 failed payments suspend your account. A payment made within the 24 hours doesn't count.

6. Pickup

• The seller's pickup address is shared with the buyer only after payment. Buyer and seller arrange a time directly.
• The buyer checks the item, then shows their 6-digit code. Showing the code confirms the handover. Never hand over or accept an item without it.
• After 5 wrong codes, code entry locks until we review it.

7. Problems and disputes

If an item isn't as described, the buyer can report it from the order page within 48 hours of pickup. The seller's payout is paused while a person at Lotzo reviews it and hears from both sides. We may refund the buyer, pay the seller, or split the amount, and our decision is final on Lotzo.

8. Fees and payouts

• Listing is free. Buyers pay a 10% premium and sellers pay a 5% commission, with a minimum total fee of $2 per sale. See fees.
• Sellers are paid through Stripe 48 hours after the handover, if no problem has been reported. Stripe asks sellers to verify their identity and bank account before the first payout.

9. Suspension and removal

We may remove listings or suspend accounts that break these terms, put other people at risk, or involve fraud.

10. Changes and contact

We may update these terms; we'll tell you about important changes before they apply. Questions? Contact us.